Protecting Stocks, ETFs & Wealth

• Bonds and What Interest Rates Do to Them

  Why bond prices fall when rates rise, what maturity has to do with it, and why 2022 hurt so much.

• Diversification — What It Delivers and What It Does Not

  Why spreading helps against single-name risk but not against market risk, and why exactly that disappoints when it matters.

• Gold as Crisis Protection

  What gold has historically protected against, what it has not, and why it is no substitute for a liquidity reserve.