‘Investors require unusual self-confidence to ignore the widely hyped non-core investments and to embrace the quietly effective core investments.’

David Swensen, CIO, Yale Endowment1

There are a number of asset classes other than cash, bonds and equities that you might consider as part of your wealth plan. In this chapter I’ll explain the main types and whether or not I recommend their inclusion in your portfolio.


Not recommended, in a multi-asset portfolio held for the long term because its expected return does not cover its risk as a portfolio asset, but hold a small amount if it helps you to stay disciplined.

Gold has been a store of value for thousands of years and has as much emotional appeal ...

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