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Strategy & Asset Allocation
An allocation is judged over a full cycle, and every strategy has a bounded domain of validity. Horizon, diversification, position sizing, rebalancing and index vehicles are described as mechanisms, together with the rate and inflation regimes in which they held up or gave way. ETFs, bonds, gold, real estate and commodities are compared by access route, cost and behaviour, never ranked or recommended.
45pieces
26in-depth analyses
1datasets
11quick reads
Where to start
Three reads, in order: the basics, the full mechanism, then what the data says.
01The basics How to Start Investing as a Beginner Start investing without being a financial expert. BeginnerRead → 
02The full mechanism Gold’s Role Across the Real-Rate Regime Gold pays no coupon, so its portfolio role tracks the real rate and the dollar more than inflation alone. In-depth analysisRead → 
03The evidence How to Choose an ETF: The 2026 Framework (Index, Costs, Liquidity, Taxes) Index, costs, liquidity, tax structure: a complete, data-backed framework for choosing an ETF in 2026, with regime history and a total-cost simulator. StudyRead → Research and data
Our in-depth research and the downloadable series on the subject.
Dataset Developed Markets ex-US Datasets for developed markets outside the US: yen, pound, franc, Canadian and Australian dollar rates, plus Japan, UK and Germany 10-year yields. See the data → 
StudyBest Investments 2026: Every Major Vehicle, Read Through the Macro Regime 
StudyHow to Buy Bonds: TreasuryDirect, Funds, ETFs and the Maturity Question 
StudyHow to Invest in Gold: Bullion, ETFs, Miners and the Tax Bill at Exit
StudyBest Investments 2026: Every Major Vehicle, Read Through the Macro Regime StudyHow to Buy Bonds: TreasuryDirect, Funds, ETFs and the Maturity Question StudyHow to Invest in Gold: Bullion, ETFs, Miners and the Tax Bill at Exit All analyses, by angle
Grouped by sub-topic rather than by date. Filter to get straight to the point.
Choosing investments in the light of the macro cycle9
The sub-pillar →- CoreBest Short-Term Investments in 2026: The Grid by Horizon, Net of Taxes and Inflation T-bills, HYSAs, money market funds, CDs, I-bonds: every major short-term investment in 2026, compared after taxes and inflation, horizon by horizon. Jul 8, 2026
- CoreHow to invest in real estate: every route compared Direct rentals, REITs, crowdfunding and syndications, house hacking, your own home: entry ticket, liquidity, leverage and the tax rules, route by route. Jul 8, 2026
- CoreBest S&P 500 ETF: what actually separates near-identical funds Expense ratios, tracking difference, spreads, securities lending: a factual framework for comparing S&P 500 ETFs and index funds. Jul 8, 2026
- CoreHow to Invest in Dividend Stocks: A Screening Grid, Not a Stock List Payout ratio, free cash flow coverage, dividend growth: the observable criteria behind dividend investing, the yield trap, and the tax on net returns. Jul 8, 2026
- CoreHow to Invest in AI: Mapping the Exposure Routes, from Chips to Indices Chips, cloud, models and adopters: a map of the routes to AI exposure, what broad indices already hold, and where thematic ETFs concentrate their bets. Jul 8, 2026
- CoreHow to Buy Bitcoin: Exchanges, Spot ETFs, Self-Custody and the Tax Trail Exchanges, spot ETFs and self-custody compared as routes to bitcoin, with the US tax treatment of disposals and documented counterparty risks, no picks. Jul 8, 2026
- CoreHow to Invest in Commodities in 2026: Access Routes and Their Structural Costs No route holds the commodity: futures, rolled ETFs and ETNs, or sector equity, each access route carries a structural cost that the headline price hides. Jul 8, 2026
- CoreHow to Invest $10,000 in 2026: What the Amount Actually Changes At $10,000 the question isn't which assets but which constraints the sum really lifts: fees, entry tickets, diversification, and taxable vs IRA or 401(k). Jul 8, 2026
- CoreWhich bond ETF for the rate regime How the main bond ETF categories behave as real rates rise, plateau or fall. Jun 17, 2026
Passive management3
The sub-pillar →- CoreBest ETFs 2026: What the Data Can Tell You, and What No Ranking Will Expense ratios, AUM, tracking difference: what verifiable data shows about the best ETFs of 2026, category by category, and what no ranking measures. Jul 8, 2026
- CoreWhy ETF Liquidity Looks Continuous Under Stress ETF liquidity often appears continuous while the liquidity of underlying markets weakens. Jun 4, 2026
- CoreETF Liquidity and Market Risk: Understanding the Invisible Fragility ETF liquidity risk explained: price/NAV gaps, procyclicality, structural fragilities, and early warning signals during market stress. Mar 10, 2026
Portfolio Risk Management3
The sub-pillar →- CoreInvestment Discipline and Long-Term Portfolio Performance Portfolio performance depends more on mistakes avoided than gains achieved: Morningstar puts the behavior gap at 1.2 points a year over the decade to 2024. Mar 10, 2026
- Why Strategic Consistency Matters More Than Performance Why an investment strategy's consistency reveals more than isolated performance points, and how to read trajectories rather than endpoints over a full cycle. May 29, 2026
- 60/30/10 Portfolio Grid: Reading Allocation After Zero Rates How to structure a 60/30/10 portfolio in a world of higher interest rates, positive real yields, and rising dispersion across markets. Mar 20, 2026
Other angles12
- CoreBest investment accounts for kids: custodial, 529 and beyond 529 plans, UTMA/UGMA custodial accounts, Roth IRAs for minors with earned income, savings bonds: rules, taxes, and the quiet power of an 18-year horizon. Jul 8, 2026
- CoreInvesting at all-time highs: what the record actually shows Returns 1, 3 and 5 years after S&P 500 all-time highs vs random days, why highs cluster, and what CAPE does and does not say. Jul 8, 2026
- CoreHow to Invest in Stocks in 2026: The Complete Chain from Account to Order Investing in stocks is a five-link chain: account, broker, security, order, and rhythm, each a separate decision, with the mechanics of an order in full. Jul 8, 2026
- CoreETF Liquidity and Credit: Understanding Where Hidden Fragilities Emerge ETFs look simple, liquid and transparent, and in normal conditions they are. Jul 8, 2026
- CoreWhen Do Commodities Diversify a Stock Portfolio? Evidence From Every Major Drawdown Since 1970 Eco3min Research · Commodities & Cross-Asset Commodities rose 136% while U.S. Jul 3, 2026
- CoreCommodities Stopped Being a Reliable Diversifier After 2008 (1992–2026) For 14 years before 2008, commodities and US stocks moved independently at -0.01. Jul 3, 2026
- CoreHow Interest Rates Reshape Financial Markets: Valuations, Flows, and Risk Premia Interest rates don’t trigger instant market crashes. Mar 10, 2026
- CorePrimary Residence, Savings, and Investing: Three Distinct Wealth Functions A primary residence, emergency savings, and long-term investments serve different purposes: use, safety, and growth. Mar 10, 2026
- How Much Cash American Households Hold: Deposits, Money Funds, and the Savings Mix US households held $14.9T in deposits and $5.3T in money funds in mid-2026, but the median account is $8,000 vs a $62,410 mean. Jul 2, 2026
- The Real Return on Regulated Cash, 1960–2026: A Long Record of Repression Windows The real return on regulated cash from 1960 to 2026: nominal minus inflation, cumulative real return, and the repression windows. Jun 29, 2026
- Yen Carry Trade: The Hidden Leverage Shaking Forex and Portfolios The yen carry trade in 2026: how the Fed-BoJ gap narrowed to 2.9 points, what the CFTC positioning reversal showed, and how past unwinds actually played out. Jun 17, 2026
- Capital required to live off investment income 🧭 eco3min analysis tool: Methodological framework Simulator: Capital to live off investment income Estimate the capital required given a real return and a safety margin. May 28, 2026
Quick reads
Comparisons and common misconceptions: the essentials in a few minutes.
ComparisonDollar cost averaging vs lump sum: what history shows ComparisonBitcoin ETF vs self-custody: structure compared ComparisonUS vs international equities: a statistical comparison ComparisonPhysical vs synthetic ETFs: replication compared ComparisonDeveloped vs emerging markets: the risk-return profile ComparisonStocks vs bonds: what the long-run data shows ComparisonActive vs passive investing: what the evidence documents Comparison60/40 vs all-weather: how the portfolios behave MisconceptionsCommon mistakes about ETFs and passive investing MisconceptionsCommon mistakes about asset allocation
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This topic also exists in French.Stratégie et allocation, 39 pieces →