It sucks because eventually they're right (and the rest of us were still laughing at the earlier podcasts).

Instead of cash, I hold treasuries. The rest is spread out among low holding cost index funds (watch out for fees... they will kill your profits) and use dividend re-investment. Split things between tax advantaged and non tax advantaged depending on your short and long term goals (ask a certified financial advisor with fiduciary duty for strategies that work for you. It's worth the small fee)

Every time the market takes a crap, I buy. I rarely sell. Keep enough cash or near cash assets in a no penalty account(s) to cover unexpected costs so aren't forced to sell.

A luxurious set up for sure (which took about a decade to get set up) but it's repeatable and fairly stable.

Now, if you have real wealth (like $10s of millions of liquid assets) then look to setting up a MFO or SFO and focus on tax efficiency, etc. That's a whole different set of strategies.

Give it to entrepeneurs/researchers doing intrinsicly cool things like cancer research, without knowing how you will get any of it back right at the start. The problem is NOT lack of productive investments, its that Uber rich people think its not fair if they ever lose.

Military manufacturers are a reasonably safe haven these days as Europe is desperately trying to re-arm itself following the Russian invasion of Ukraine, the Middle East is in flames once again and there's a ton of uncertainty and small scale hostilities around China/India/Pakistan.

Urban residential real estate is also a safe haven assuming you still are allowed to invest there. Demand is not going to shrink any time soon (as most Western governments are running rural areas to the ground for them being too expensive to bring on modern standards and expectations in infrastructure), and supply is so scarce that even large developments and re-zoning will hardly make a dent in demand.

Invest in a fund which underweights bubble stocks by tracking a suitable alternative index:

https://www.bogleheads.org/wiki/Alternative_indices

Dividend weighted indexes are the classic option, and fundamental weighted index are a newer one.

Maybe unfashionable equities? Utility stocks, Japan/S Korea, BRKB etc?

Golds been rallying really aggressively recently

Yeah, frankly I think there is no truly safe place for investments at this point.

We might as well just enjoy the ride knowing at least when it hits the bottom, we'll all of us be in the same tough spot.

> Gold? Dead asset

What? Gold is at a record high, and with inflation it will only go higher.

https://www.macrotrends.net/1333/historical-gold-prices-100-...

> But they can't do this for much longer, inflation is the first sign, which is why Trump is raising tariffs.

Trump is raising tariffs because he thinks they are a good idea and has since the 1980s:

> “The fact is, you don’t have free trade. We think of it as free trade, but you right now don’t have free trade,” Trump said in a 1987 episode of Larry King Live that’s excerpted in Trump’s Trade War. “A lot of people are tired of watching the other countries ripping off the United States. This is a great country.”

* https://www.pbs.org/wgbh/frontline/article/trumps-tariff-str...

Trump's mindset is a 1980s NYC real estate guy (zero-sum, one-off games), which when applied to global trade, is basically mercantilist:

* https://en.wikipedia.org/wiki/Mercantilism

Meanwhile, in the real world, commerce is often non-zero-sum (both parties get something of value, i.e., "win-win"), and you play multiple rounds with each trading partner and reputation matters (rather than one-off, where burning your bridges could be an actual strategy).

> which is why Trump is raising tariffs.

I question this bit. (That may be why he's raising tariffs; I question whether it will work.)

When tariffs go up, prices go up (delusions that "other countries will pay" notwithstanding). That shows up in inflation statistics, which in turn will (probably) show up in T Bill rates, but as a higher rate, not a lower one.

Except... tariffs might be a one-off increase. They may not compound the way "regular" inflation does. So maybe it will work in the medium term?

Sure, if you bet against the crowd with leverage or a tight funding leash.

Global equity index ETF have reliably yielded 5% returns over 12-15 year periods for ~75 years.