PlanB

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PlanB
planb@planbtc.com
npub15wcv...qy0q
Creator of the stock-to-flow model
Adding 2% bitcoin to a classic 60/40 portfolio vastly improves performance. But most investors are too focused on Sharpe-ratio (based on st.deviation). They see that Sharpe declines a bit. Calmar-ratio (based on drawdown) is a better metric and it improves a lot! Using Calmar: ditching stocks and bonds entirely and invest 4% in BTC while holding 96% in cash, yields superior investment performance. It will take years for large traditional investors to change their risk perspective from st.deviation to drawdown and their risk/return perspective from Sharpe to Calmar. Perspective matters. image