Thought provoking as always. The unhedged global bond comparison is not one I had explored or even considered for that matter.
I guess we are all mad in our own ways. A bit of a ’prepper’ portfolio going on there perhaps, but instructive to explore and question the macro risks in play. I do have this nagging voice in my head that says the broadly inverse stock/gold correlation at the multi year scale may be a little too coincidental to rely on. I like the idea that the stock purchasing power of cash is ALWAYS going to be inversely correlated and can be exploited with AIM like trading.
Even now in the UK careful cash management will result in a least inflation pacing returns and hopefully opportunities for getting back to somewhere near to cash+2 will appear on the horizon.
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