Michael Saylor
speaker
2,284 appearances
6 recordings
5 series
first heard Nov 2024
last heard 14 Jun
Michael Saylor’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 1.
Appearances
And if you change your mind next Tuesday, you can take your capital back.
I mean, the other thing we've done with Stretch, which is very useful, is there's a concept, risk-adjusted return, and it's captured by the Sharpe ratio.
It's a metric that financial engineers use.
It's what is the return of the investment minus the risk-free rate?
The risk-free rate is SOFR, the standard overnight funds rate.
It's 370 basis points.
It's what the government pays you on their T-bills.
So if you take the return, subtract the risk-free rate, divide by the volatility, you get a Sharpe ratio.
And the Sharpe ratio of the S&P is like 0.85.
That's it?
Yeah.
You have a higher volatility than the annual return.
The Sharpe ratio of Bitcoin is around the same.
The Sharpe ratio of most credit instruments is 0.2 to 0.4.
And the Sharpe ratio of money markets is negative.
Wow.
The Sharpe ratio of STRC is 2.8.
It's 10x better than other credit instruments.
And...
If you were running a hedge fund and you could say, look, the volatility of my portfolio was 10, but my return was 20, that'd be a sharp ratio of two, you could raise infinite money.
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