A quick note from our sponsor: me.My coaching service is growing, and the feedback has been consistently positive: thank you! <3 But here’s something interesting: almost everyone who joins finds me through other creators, not through word-of-mouth from past clients. That tells me one of two things: If you’ve benefited Read more
Ben Carlson recently highlighted an uncomfortable truth: over the past five years, bonds have experienced one of their worst stretches in history. Yet, almost no one is screaming about it. Why aren’t investors sounding the alarm? What really pushed me to dig into this wasn’t just Ben’s post though, but Read more
I’ve never been fully sold on inflation-linked bonds. Historically, traditional bonds have delivered real, positive returns over time. And that makes sense: if investors are going to lock in nominal yields for years, they should demand a decent risk premium for doing so. So if regular bonds already compensate for Read more
In April 2022, I introduced on this blog The Italian Leather Sofa Model Portfolio. As a reminder, here is the portfolio composition: The idea behind the portfolio is stolen from here. The link offers the best explanation of what I think is the most common question related to it, i.e. why Read more
This interview on the Get Stacked Investment Podcast is one of the most interesting I’ve stumbled upon in a long time. Not because the topics discussed are novel. But because the guest is an Europoor like us! Rafael Ortega is a Spanish chap who got the “efficient, diversified portfolio” bug, Read more
I was going through some old posts and realized something surprising: I’ve never written a dedicated piece on risk parity. I could’ve sworn I covered it at some point—maybe under the All Weather umbrella—but apparently not. Chalk it up to the hazards of writing too much (or having a bad Read more
In April 2022, I introduced on this blog The Italian Leather Sofa Model Portfolio. As a reminder, here is the portfolio composition: The idea behind the portfolio is stolen from here. The link offers the best explanation to what I think is the most common question related to it, i.e. why Read more
Man AHL dropped a new paper on regime-based investing (link). Think of it as the overachiever’s version of lazy portfolios. Instead of building a portfolio that’s resilient across economic regimes—like the Permanent Portfolio—this approach tries to front-run reality. If we’re in stagflation, why hold anything but cash? Or managed futures, Read more
The CFA Institute produced a detailed report on the historical performance of the 60/40 portfolio (here the link). While the breadth of this study is not as ample as other works, think of the UBS Yearbook, I found some interesting graphs…and the hook to write about potential issues in using Read more
I like David Dredge’s metaphor of a portfolio like a racing car: you do not need to reduce cruise speed when you have brakes. The 60/40 is a car moving always at the same speed, the one that would keep it on the track even on the nastiest turns (what Read more