Is Cryptocurrency for Real?

Crypto is an increasingly dominant topic of conversation among investors, but is it a genuine asset class or the latest in a long list of financial manias? 

Dan Kemp 25 May, 2021 | 4:30AM
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Cryptocurrency is an increasingly dominant topic of conversation in the re-opened pubs of the Square Mile as professional investors try to understand whether they are a genuine asset class or simply the latest in a long list of financial manias.

As long-term, valuation-driven investors who take the stewardship of our investors’ capital seriously, it is tempting to ignore the convulsions occurring in one corner of the capital markets and focus our attention and resources on assets with more predictable outcomes. However, experience has taught us that excess in one part of the capital markets can metastasise, impacting all investors and therefore cannot be ignored.

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About Author

Dan Kemp

Dan Kemp  Dan Kemp is Chief Investment Officer, Morningstar Investment Management EMEA.

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