“As inflation risk rises, bonds no longer offer an easy diversification option — but hedge funds do.” “Unfortunately, the 2020s brought a mix of Covid-related money-printing largesse and deglobalisation, both of which are invariably inflationary.” “That’s why I’m […]

Nobel laureate Harry Markowitz, the founder of Modern Portfolio Theory, is famously credited with saying that the only free lunch in investing is diversification. Back in the 1950s, Markowitz was the first to mathematically prove out how diversification […]