Eric Satz Makes the Case for Alternative Assets

Takeaways: Why it's not so much that Eric is a believer in alternative assets, but that he believes in a diversification of investment portfolios. That illiquidity of alternative assets is a feature, not a bug. The legal challenges of getting Alto started took longer than the anticipated technical challenges of simplifying the workflow processes of alternative investments.The 'greater fool' theory in investments.How public markets are no longer being driven by the fundamentals of investing and operating.Alto's three levels of operation: a software business which owns a trust company and also owns a securities company.'Historically good returns' in alternative investments = returns that exceed public market returns.Bitcoin, like money, is an invention based on faith.What comprises 'luck' in business: hard work, opportunity, and a third vector: remaining open to what's happening in the market.The cost - and there is one - to entrepreneurship.