Oct 20, 2026 · 1h 2m
Anson Funds turns market hype into an investing edge
Bitcoin Is Just Getting Started, Says Billion Dollar Investor | Moez Kassam
Moez Kassam explains how Anson Funds navigates Bitcoin, AI, activism, and global markets by treating sentiment as both risk and opportunity.
- 1Anson Funds enters momentum-driven themes early, tracks investor behavior, and exits before enthusiasm becomes excess.
- 2Kassam favors flexible, less-crowded situations where structure, sentiment, and dislocations matter more than technological scale.
- 3The firm treats prediction markets, social media, and retail activity as information sources without assuming they provide a complete investment edge.
Don't miss
Kassam explains how Anson used early Bitcoin exposure and treasury-company financing to recycle capital as institutional and retail demand grew.
The brief
Moez Kassam describes Anson Funds as both a hedge fund and deal-making operation, using flexibility across securities and markets to find opportunities created by changing sentiment.
Anson’s Bitcoin investments illustrate the method: take a small position early, study the theme closely, then structure financing and recycle capital as demand reshapes the trade.
Kassam sees AI as a crowded field where enthusiasm can obscure fees, leverage, and private-market complexity, making infrastructure and sentiment as important as the headline companies.
Rather than compete with the largest funds on technology or networks, Anson seeks less-covered situations, including Korean memory-chip trades and event-driven corporate campaigns.
The episode’s central tension is whether democratized information improves investor judgment or simply makes retail behavior more predictable for sophisticated funds to trade around.
What was said on this episode
30 statements · 20 positive · 9 negative · 1 neutral
Bitcoin has a durable investor base that will sustain it.
“there is an inherent group of people who are going to keep this thing going”
Listen at 1:10
Bitcoin will remain a lasting financial asset.
“this is something that's here to stay for sure”
Listen at 1:30
Investors should avoid assets surrounded by excessive hype.
“anything that has too much hype around it, that's when you want to be walking away”
Listen at 2:48
Momentum assets can rise faster, longer, and higher than expected.
“things can go up a lot faster and a lot longer and a lot higher than you think”
Listen at 5:13
Bitcoin has inherent value and will persist.
“Now I believe Bitcoin has an inherent value and it's here to stay.”
Listen at 8:33
Late-stage Bitcoin treasury deals generally offer worse terms.
“the later you are and the louder the music the worse that the deals are”
Listen at 11:10
Strive preferred securities are expected to rise toward par value.
“the idea is it'll slowly gravitate towards 100”
Listen at 13:13
Anson underwrites approximately 20% IRR on short-term preferred investments.
“we'll look at it underwriting a 20% IRR”
Listen at 14:17
Leading AI companies are currently valued too richly for confident bets.
“the valuations are very rich to make those types of bets today”
Listen at 18:44
Excessive private-market AI structures could face significant stress.
“there could be a lot of stress on it”
Listen at 20:22
AI summaries of investment reports frequently omit information or are materially wrong.
“75% of the time, there's something that they've missed or 10, 15% of the time, they've got the whole thing wrong.”
Listen at 25:14
AI-driven investor behavior will improve Kassam’s job and returns.
“I think my job and our returns are going to actually get better”
Listen at 25:31
Anson generally avoids crowded Tesla and SpaceX investment situations.
“I'll avoid situations like Tesla and SpaceX for the most part”
Listen at 26:28
Samsung and SK Hynix earnings are expected to be exceptionally strong.
“the earnings for these companies looks insane over the next few years”
Listen at 30:44
Buying CoreWeave during extreme pessimism produced a subsequent sharp rise.
“we bought Corweave on the Thursday, and then it ripped eventually”
Listen at 32:45
Memory stocks may rise 10–15% as market conditions stabilize.
“as things stabilize, you'll get a 10, 15% jump in a matter of days or a matter of weeks”
Listen at 33:35
Single-name short selling is difficult in the current bull market.
“short selling is a hard game”
Listen at 35:43
Lionsgate is likely worth substantially more under a proper sale process.
“if you ran a proper process, it's probably worth a lot more than where it's trading at today”
Listen at 43:07
Selling Lionsgate would be the ideal outcome.
“That would be an ideal world, yes.”
Listen at 43:13
Moderna’s upcoming earnings should end its current momentum rally.
“the earnings, in my opinion, should mark the end or even before it”
Listen at 44:46
Prediction markets provide better information than polling data.
“it's better than polling data”
Listen at 47:26
Retail investors overestimate their informational advantage.
“people believe they have an advantage more than they do”
Listen at 52:09
Space-related investments may succeed over a long period.
“this is a theme that may work out over time”
Listen at 53:22
Tesla should be viewed primarily as a technology company, not a car company.
“You can't call it a car company, right? This is a technology company”
Listen at 54:11
SPAC valuations and activity are driven by investor sentiment.
“SPACs move with sentiment”
Listen at 54:43
Anson is cautiously re-entering the SPAC market.
“we're, we're, we're nimbling again on the SPAC market itself”
Listen at 55:52
Being based in Canada gives Anson an investment advantage.
“I think it's an advantage”
Listen at 56:26
Canada and the United States benefit from remaining independent countries.
“we both do better as independent sovereign countries”
Listen at 57:56
Canada and the United States should maintain friendly relations.
“we're better off being friends than foes, I believe”
Listen at 58:40
Canada and the United States benefit from cooperation based on shared interests.
“we have such common interests that we're better off being on the same side”
Listen at 59:20
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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