Choose · what to own

Three decisions decide what to own

In the order they are made, each with a verdict from public data since 1972. Open a decision for its charts, its strategy cards and its reads.

1. 01Asset allocation +1.5pts a year, worst decade Hold stocks, bonds and gold together Worst ten years, real, a year 100% stocks −5.9% 60/40 −3.8% 60/30/10 −2.3% A 60/30/10 against a 60/40, real, 1972 to 2026, at no cost to return (+0.4 a year). Gold carried the 2 regimes where stocks and bonds both lost. 2 charts · 2 strategy cards · 1 read · 5 min
2. 02Equity strategies 22lead changes Own the index; if you tilt, own both sides Worst fall behind the market Value alone −54% Growth alone −39% 50/50 blend −19% Growth and value have swapped the lead 22 times since 1972, the longest run 13 years. The 50/50 blend never fell more than 19% behind the market. 2 charts · 4 strategy cards · 1 read · 5 min
3. 03Diversifiers +2.3pts of drawdown Five percent in a true diversifier cuts the worst fall Change in the worst drawdown at 5% Trend following +2.3 pts Gold +1.9 pts Commodities −0.3 pts Large value −1.5 pts A 60/40 with 5% in trend following, 1985 to 2025: a shallower worst drawdown and +0.34 points a year. An equity flavor at 5% deepens the fall. 2 charts · 3 strategy cards · 1 read · 4 min

What to own is decided here. Which account holds each piece is decided under Account placement, in Implement · how to hold it.