−3.3%
since Sep 2
The idea
I think markets will start repricing US assets the moment a socialist-leaning shift toward 2028 looks likely, well before any policy actually passes. So most of this portfolio is a hedge: gold in a few forms, silver, inflation-protected bonds, broad commodities, and stocks outside the US to sit apart from the political risk, plus bitcoin and its rails as a fast exit if capital wants out. A smaller slice bets on the sectors a big-spending progressive agenda would favor, like infrastructure and clean energy, so I have upside either way.
What it owns
- International stocks and currencies provide ballast outside the US political system, with the potential to benefit if capital rotates away from US assets. · Vanguard FTSE Europe ETFIt provides developed-market exposure outside the US, positioned to benefit if capital rotates away on political risk concerns., iShares Core MSCI Emerging Markets ETFIt typically benefits from a weaker dollar, the natural outcome of heavy US deficit spending and capital outflows., iShares MSCI Japan ETFIt offers developed stability in a different political system, while the yen historically strengthens when capital flees US-specific concerns.25%
- Gold and related assets tend to rise when investors worry about deficit spending, currency debasement, or political instability, serving as the core hedge in this take. · SPDR Gold SharesIt is the anchor hedge, rising when investors fear fiscal deficits, currency weakness, or political uncertainty., VanEck Gold Miners ETFIt provides amplified exposure to gold prices through mining companies, moving harder than gold itself in both directions., iShares Silver TrustIt combines the monetary-fear trade of precious metals with industrial demand from solar and electrification buildout., Franco-Nevada CorporationIt collects royalties on gold production from other companies, providing gold upside while avoiding mining operational risks.24%
- Clean energy companies and infrastructure developers capture upside if large-scale government spending on green transition and public works moves forward. · Global X U.S. Infrastructure Development ETFIt owns infrastructure builders and materials companies that directly benefit from large government spending on public works., First SolarIt makes American-built solar panels that domestic-content rules and tax credits favor in a green spending scenario., iShares Global Clean Energy ETFIt diversifies across global clean energy without picking single winners, benefiting from worldwide investment in the green transition., NextEra EnergyIt is the largest US renewables developer inside a regulated utility, offering green policy upside while paying dividends to shareholders.18%
- Assets that historically gain value when government spending exceeds revenue and price levels rise across the economy. · iShares TIPS Bond ETFIt adjusts principal with inflation, paying off if deficit spending pushes inflation expectations higher than the market currently prices., Invesco DB Commodity Index FundIt holds commodities across energy, metals, and agriculture that historically outperform when deficits and inflation expand.13%
- Crypto and related platforms offer channels for capital movement outside traditional systems, benefiting from wealth relocating due to policy concerns. · iShares Bitcoin TrustIt serves as a store of value outside traditional systems if wealth holders seek to protect assets from redistributionist policy concerns., Coinbase GlobalIt earns fees on crypto transaction volume that would expand if capital flight into digital assets accelerates.10%
- Cash10%