GoSeigen wrote:what do you think of Platinum? For my sins, I've been running down gold positions and switching to platinum but so far it's looking like a poor exchange.
Central Banks don't hold it; When investors are fearful they flock to the primary reserve currencies (US$), when returns from that are poor (negative real yields) they buy gold - maybe silver, less likely platinum. Stocks and gold work well as a pair, one tending to rise as real yields turn negative (gold), the other does well when real yields are positive. A form of 'extreme bonds' at polar opposites (such that a barbell of the two converges as a form of bond bullet).
If you consider 50/50 stock/gold as a bond bullet, then instead of a 50/50 stock/bond asset allocation if you hold 75/25 stock/gold then historically https://tinyurl.com/ya7z56ye they broadly rewarded the same, but where the 75/25 stock/gold was the more volatile but that potentially reduced taxation risk factors - such as regular income/interest streams.
You can reduce 75/25 stock/gold down to 67/33 with little difference in rewards. Splitting stocks 50/50 between UK index tracker and US index tracker, third each in UK stock, US stock and gold, and you're currency diversified across domestic (£)/primary reserve currency (US$)/global currency (gold). Which for me has worked very well. However I've not tested that using platinum instead of gold (nor do I intent to as gold is good enough for my purposes). Of the order of a long term history of 7% real (after inflation) +/- 2% (subject to relative valuations at the start and end dates and sourced via a 2% SWR + discretionary top slicing real gains as/when apparent).