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Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. Brownes historical perspective from the 1970s and early 1980s was very different. In a twist of the quip on a long enough timeline, everyone dies. Said a bit more straightforward, true diversification seeks to accomplish the two things most investors care about in their portfolios: However, 2008 and subsequent events suggested to us that the commonly touted forms of diversification were not as effective as advertised. Thanks for your comment. Artemis is a long volatility manager, after all, and talking up their book, so to speak. Commodities Fire Up the "Dragon Portfolio" - True Market Insiders The optimal portfolio, since 1929, included risk weighted combinations of Domestic Equity (24%), Fixed Income (18%), Active Long Volatility (21%), Trend Following Commodities (18%), and Physical Gold (19%). by JackoC Mon Oct 12, 2020 9:34 pm, Post The five components of the Dragon Portfolio have a low correlation to one another, and they each perform differently in different economic environments. "To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets. YQA 232-3. Trading We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. Fixed Income: 20% U.S. 20+ Year Treasuries, Long Volatility: 20% CBOE Long Volatility Index. It was the year many retirees or near-retirees had to rethink their futures, families downsized, and plans for the future changed in big ways. The equities, fixed income and gold components are fairly self-explanatory. The problem us humans have, is that if it has sucked more recently than something else sucked thats a particularly hard thing to not do get all panicky about. The Dragon Portfolio is based on historical research stretching back to the 1920s that sought to identify the most effective portfolio not just over the last few decades, but the long run of history. While this is certainly possible, we do not feel it is prudent and certainly doesnt qualify as a well-diversified portfolio. (Note: the performance of the Hundred Year Portfolio can be tracked here: https://www.petebarrresearch.com/hundredyear), Chris Cole is the founder and CIO of Artemis Capital. I do like the idea of the dragon portfolio, but I am still researching before I implement it. It will be interesting to track performance going forward. Commodity trend is an active strategy which seeks to buy when an asset price trend is rising and sell, or short, when the asset price trend is falling. It's having hurricane insurance that doesn't just rebuild your house, but leaves it better than it was before the storm - at a compounding non-linear rate. Long volatility is magic, it just needs patience. This comment has already been saved in your, Wall Street closes sharply higher, notches weekly gains as Treasury yields ease, Stock market today: Dow snaps 4-week losing streak as growth stocks strike back, Waller's spicy speech, ISM, chipmaker updates - what's moving markets, 5 Reasons Why March Will Be a Month to Remember on Wall Street, Congress to Limit U.S. Oil Exports to China: What Traders Need to Know, 2 Growth Stocks to Buy Despite Hawkish Fed, Rising Yields, Vanguard Total Bond Market II Index Fund Investor, PIMCO Commodity Real Return Strategy Institutional, SG FTSE MIB Gross TR 5x Daily Short Strategy RT 18, Vontobel 7X Long Fixed Lever on Natural Gas 8.06, Gen Zers Are Overly Optimistic About Being Wealthy.