Institutional-grade research for private investors who value depth over speed, and compounding over noise. No ads. No sponsored content. Just rigour.
Most wealthy families track nominal portfolio returns. Few apply a rigorous real return framework that accounts for spending, inflation, and the compounding drag of fees. We model three family wealth scenarios across 30-year horizons and find the divergence is startling — and largely avoidable with the right structural adjustments.
Read the cover storyA back-tested framework for identifying businesses with durable moats — the kind that compound through recessions, rate cycles, and regime changes.
Private credit now offers yields that public investment-grade bonds cannot match — with superior seniority. We examine the access points, risks, and liquidity tradeoffs for private investors.
High interest rates have made CRTs more attractive than at any point in the last 15 years. A clear breakdown of the mechanics and when to consider them.
The DXY at multi-year lows reopens the currency allocation question for globally diversified wealth. We examine hedging costs, asymmetric exposure, and the case for selective un-hedging.
The energy transition is creating an infrastructure investment cycle unlike any in modern history. We map the segments with the most compelling risk-adjusted profiles for long-term capital.
Empirical research on how sophisticated investors repeatedly undermine their own portfolios — and the structural disciplines that break each pattern.
The benchmark against which all other multi-asset solutions should be measured. Automatic global diversification, disciplined rebalancing, and a 0.22% OCF that removes the primary structural drag of most competitor products. For investors who want a single, set-and-forget core holding, this is the clear starting point.
A sound product with a structural flaw: US weight now exceeds 70%, making this less a "world" allocation and more a leveraged US equity bet with international window-dressing. Suitable as a satellite position but not as the sole equity exposure for a globally minded private investor. Consider a version with explicit US cap.
A retail-friendly fund that demonstrated the perils of narrative-driven portfolio construction at scale. The thesis — disruptive technology — is real. The implementation, concentration risk, and inability to manage reflexive inflows and outflows are not. A 75% drawdown from peak erases a generation of compounding. The structural problems remain unresolved.
Every Saturday morning: one wealth theme, two portfolio moves, three things to read. Trusted by 29,000 private investors since 2018.