债券不再是唯一答案
For the past two decades, bonds played the safe-haven role in the 60/40 portfolio. But with a higher interest rate floor and the risk of persistent inflation, bonds' hedging efficiency is declining—sometimes they even fall alongside equities.
This means we need to look beyond traditional bonds for new safe-haven candidates.
我的配置比例
Gold: 5-8%. A long-term safe-haven base, hedging against monetary system risk. Not too much, just enough.
Bitcoin: 1-3%. A small position, bearing long-term optionality. Not for everyone—depends on whether you can stomach its volatility.
Others (commodity ETFs, REITs): 3-5%. For additional diversification.
Total alternatives: 10-15%. The rest stays in core holdings.
On investment analysis, market insight, and asset allocation — not chasing short-term noise, but understanding what truly drives long-term returns.