Adam Livingston

speaker

573 appearances 1 recordings 1 series first heard Jun 2026 last heard 24 Jun

Adam Livingston’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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What Bitcoin Did · Is Michael Saylor Trapped? STRC Explained | Adam Livingston · 24 Jun 2026 podcast

Me too.

Because I look at...

equity multiples.

And I can't square that in my head on how these things are investable.

And what's funny, even before I was totally orange-pilled, my orange-pilling journey has been quite long, but I have always thought that about equities.

And I've always been able to perceive certain valuations being ridiculous.

And I continue to see that get more crazy as my life goes on and I get older.

And

The uncertainty is wild.

We have people debating on whether or not MSTR should trade at a 10% premium to their Bitcoin holdings versus DoorDash stock trading at a 70x earnings.

To me, I'm like, guys, the answer is probably somewhere in the middle here.

So to me, that's why I love Bitcoin.

And I actually do like the treasury companies because...

In terms of like a risk-reward calculus, it's so much easier of a tell to me.

Like, do I buy Costco at a 60 PE?

Is that overvalued or undervalued?

Will Costco exist in 2100 when robots have replaced humanity?

There's never been more uncertainty, yet equity multiples are at the highest they've ever been.

I believe that the composite price-to-earnings multiple for the S&P 500 is a 29.

Like, I don't, I think that's crazy.

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