In a conversation exploring the collision of traditional finance and futuristic technology, top Wall Street strategist Tom Lee sketched out a wild “black swan” scenario in which the global financial system is upended not by the Federal Reserve, but by Elon Musk.
Speaking at a live recording of SoFi’s The Important Part podcast at WNYC, the Fundstrat cofounder and head of research raised his eyebrows and offered various thoughts on the asset, wowing the crowd and drawing smiles and laughs from co-panelist Michael Lewis, author of The Big Short, and podcast host Liz Thomas, head of investment strategy at SoFi. Not only is gold a “Lindy effect” asset, Lee said, but it’s also a “demographic” story, in Lee’s opinion, that has to do with nostalgia. All that, and he sees a “black swan” tail risk that involves Musk, the world’s richest man, discovering a new asteroid and becoming the world’s central banker.
