Who Is Going To Call The Top In Bitcoin? Morgan Stanley Says They Might Have A Model

In the alternative investment industry, there is an unpublished list of all-time excellent risk management trades. There is Balyasny Asset Management logically modeling in 2015 that the US Federal Reserve withdrawing quantitative stimulus might lead to a crash and adjusting its risk management overlay accordingly.  There is Jim Chanos and Kynikos Associates calling out fraud at Enron, identifying little underlying value amid the market hype. And there are the likes of Ray Dalio and Bridgewater Associates looking at the consensus hype before the 2008 financial crisis and likewise identifying fundamental concerns that were being ignored. Is the same true of…