BREAKDOWN: Cronyism, Zombie Companies and the True Cost of the Coronavirus, Feat. Morgan Creek’s Mark Yusko

Mark Yusko is the founder of Morgan Creek Capital Management. In this wide-ranging conversation, he and @NLW discuss:

Why bitcoin has fallen with stocks over the last few weeks
Why price and value are not the same thing
Why stocks have been manipulated
An argument for buy backs being illegal
Why cronyism is not capitalism
Why bailouts and other types of intervention help zombie companies that should perish
A debate about whether the “cure is worse than the disease”
The costs of a 0-risk tolerance
The polarization of health vs. economics
Why there should be a market holiday
Why bitcoin is the last and only free market
Why the big market announcements are always on Sunday
Why we’re headed to debt jubilee
There is a non-zero probability that Trump tries to cancel the election
Why a lack of leadership is the biggest cause for pessimism today