Everything outside stocks and bonds — gold, commodities, P2P lending, crypto and collectibles. Higher variance, different rules.
Everything that is not a stock or a bond gets filed under "alternatives" — a category so broad it is almost meaningless. Here is how to think about it usefully.
Read article →Gold pays no dividend, produces nothing, and has been valuable for five thousand years. Both halves of that sentence are true, which is what makes it hard.
Read article →Oil, copper, wheat. Commodity funds do not simply track the price you see on the news — and understanding why saves a lot of disappointment.
Read article →Advertised returns of 10%+ with "buyback guarantees". Here is what those numbers really represent and what happens when the cycle turns.
Read article →Skip the ideology in both directions. If you are going to hold crypto, the only question that matters is how much — and the answer follows from one property.
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The indices look wonderful. The returns are worse than they appear, for reasons that are structural rather than bad luck.
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