An "immune portfolio" concept is deeply personal and varies significantly based on individual circumstances, goals, and risk tolerance. As stated in a recent blog post:
One moment, you’re free, and the next, you’re arrested. Things change so fast nowadays.
The EU’s common debt is coming, and that means that the EURO will continue to debase. Let’s fix the economy by introducing more government. The European Union will go down as one of the most stupendous experiments of our time. It's a wonderful idea on paper, but who in their right mind thought it could work? Very different countries under one monetary policy… So what is next? MORE DEBT.
Inflation, currency debasement, and less financial sovereignty for individuals.
Crafting your portfolio
The goal isn’t just to accumulate wealth - it’s to be resilient and sleep well at night, comfortable with what you own. Everyone's investment approach is different, and there’s no one-size-fits-all solution. The key is to find your own style and "team" of assets, tailored to your goals, risk tolerance, and life stage.
Young student: More risk, less knowledge. (And fuck everybody who says you are too young).
First mortgage and family: Less risk. Family comes first.
Debt-free under 60: More risk-taking for freedom.
Debt-free over 60: Wealth preservation.
These are generalizations; individual circumstances, such as being a freelancer or entrepreneur, can dramatically alter the approach. The key is to recognize that there's no one-size-fits-all solution. But there is the 60/40 portfolio! Well, that is the surest way to get fucked. I am sorry, but the Braindead solution will not work in the future. I wish it did.
Why do I care? I pay 25% of my salary to the government pension plan. Sorry, but you were born at the wrong time to benefit from the Ponzi (if you are under 55y old).
The secret is that nobody knows the fucking secret! There will never be a universal solution, but there can be an optimal “team” that works for you (even if it looks stupid compared to what is normal).
Think of it as building a team with different assets, each playing a specific role in your financial strategy. Whether you're aiming for more immunity, greater gains, straight-up gambling, or wealth preservation, ask yourself:
Do we need defenders?
Who will make the goals?
Who will save us from trouble and clutch us the win?
How’s Your Team Looking? Honorable citizen.
Over 70% of wealth is tied to the house.
A mortgage can be an excellent “escape” from debasement if your economy grows and you live in a highly desirable area. Finland was like this 20 years ago; if the prospects were the same as we lived in 2004, I would go 9/10 times to this route.
It is 2024, and we are taxing property owners more and more. There has been zero economic growth since 2008. If this stagnation continues, it is a 100% sure way to lose money. Why risk financial sovereignty?
Random stock 5-15pcs, and rest in an index fund. (Again, these are 90% diversified in Finland. Are you diversified if your house is in Finland, your income is in Finland, and most of your stocks are Finnish?)
The majority of the portfolios I see in Finland are the “Honorable citizen”. They have big mortgages in good neighborhoods, stability, and the security that comes with it. It’s 100% fine to follow this route. There's nothing wrong with building your life around a solid home and a stable job. However, relying solely on this strategy means putting all your eggs in one government-backed basket.
Life is unpredictable. Governments change, policies shift…
Keep your core: Maintain your primary investments, like your home and index funds. These are your foundation.
Add spice: Sprinkle in a few alternative asset classes, such as Bitcoin or real estate abroad; even watches can be good. Just 1-5%
Stay liquid: Another problem I see is very low liquidity, leveraging up on the indexes to amplify gains. Very small emergency fund. What if shit hits the fan?
To flip this, I also see the other extreme, where there is no solid base, just speculative assets; there are no get-rich schemes.
It seems that in investing, people also miss out on “common sense” and go straight to the extremes. Go autopilot with a mortgage—or gamble it all. Okay, let's use our brains a little bit and make some effort here to plan the future. Learn what assets/businesses would be good to own long-term.
Watching most people invest is like watching 5-year-olds play football. Everyone's chasing the ball.
Sometimes, do jack shit. It's a great time to learn more.
Sometimes, be the firefighter: When everyone's panicking, we should often buy.
Always think long-term. Learn what assets and businesses are worth owning for the long term.
Constantly question and stress-test your “thesis.” Build the stories, build the narratives, what if, what should happen, what could happen, what if Bitcoin goes tits up? There is always a 1% chance. Is this business worthwhile to own anymore? - great exercise and fun.
Bonus: Writing/researching. 95% of what I write here are just random thoughts and brain dumps. It's not pretty, it's not polished, but it's part of the process. Sometimes it clicks after one day, sometimes a week later, and most of the time, nothing happens at all. But when it clicks? That’s the magic.
Then, we might get that game-changing idea.
Read books, listen to audiobooks, listen to podcasts, and read a little bit of substack/blogs. Have you ever got anything from “mainstream” media?
Asset classes to consider - beyond the traditional stocks and bonds
Bitcoin
It is the best, and there is no second-best.
Bitcoin is slowly cementing itself as the best alternative to safeguard wealth.
I did not say it: BLACKROCK: “could serve as a hedge against increasing global disorder and declining trust in governments, banks, and fiat currencies.” Go with pure form.
Best alternative to safeguard wealth
Hedge against global disorder and declining trust in governments
Not controlled by any single entity
— Comes with high volatility.
How it fits: Core component for wealth preservation and financial sovereignty.
Other cryptocurrencies
Stablecoins are extremely useful.
How it fits: Stablecoins are extremely useful for maintaining liquidity and facilitating transactions.
Precious Metals
Traditional store of value
— Storage and transportation issues
— Verification challenges
— Potential government seizure
If I retire soon, I would go with these, but how do I move them? Where should I store them? How do I verify them? Should I just own paper gold? Yeah would be cool to own some gold coins, but I can’t get the fuck out of Finland with coins up in my arse.
Real Estate
I’m not fond of real estate, and owning it here in Finland makes no point. The property tax is high and will continue to rise. The Russians owned a lot of real estate close to the border, and due to sanctions, their value is going straight to zero… People here in Finland celebrate this. Has it ever stopped when the government started to sanction and seize assets? Who’s next?
Cucked Finland is not a place to own anything.
On the other hand, one of my friends very nicely purchased a house from Albania 15 years ago with peanuts.
Productive Assets & Knowledge & Skills
This makes little sense in Finland or any other high-taxation country, but it is necessary to be “free” or “escape” to greener pastures.
Small-scale businesses or side hustles that generate cash flow
Skills or equipment that can be monetized
Investments in yourself that increase your earning potential
In Finland:
Bullshit office job in Finland, not likely very “transferable” to abroad.
Education is still excellent and cheap —> Get certified as a plumber, electrician, HVAC etc. These are valuable everywhere.
It might be useful to do some side hustles, random gigs, etc., to learn about entrepreneurship, taxation, and general how to run a business. I am surprised that 95% of my friends have zero idea how this “works.”
Digital Skills (Coding, Web Development, Data Analysis, LLM?)
Open doors to remote work opportunities globally?
Financial knowledge
Learn how to invest in stocks, ETFs, or index funds to generate passive income. Compounding is the 8th wonder…
Other basics: Budgeting, Retirement planning, Building your fucking emergency fund…
2/3, and you are good. Do I want to leave Finland? No, but what if? It’s already a socialist country, and if I end up in jail for “misinformation,” then yeah, it’s bye, bye.
Resiliency is the goal. Forget chasing money, “success,” and material shit - we want to be like cockroaches, thriving no matter what. Whether the system changes or collapses, you will get wrecked if you rely on any government.
So wtf?
Personalization is Key: There's no one-size-fits-all solution. Your portfolio should reflect your unique circumstances, risk tolerance, and goals.
Diversification Beyond Traditional Assets: To build resilience, consider spicing up with alternative assets.
Stay Liquid and Flexible: Maintain an emergency fund and keep some assets easily accessible or transferable.
Continuous Learning: Invest in your skills and knowledge. Financial education and adaptable professional skills are very important assets.
Question the Status Quo: Don't blindly follow traditional advice. Stay informed and be ready to adapt your strategy as the world changes.
Balance Security and Freedom: Aim for a portfolio that provides both stability and the flexibility to pivot if circumstances change dramatically.
Benjamin Franklin “Most men die at 25, we just bury them at 75”.
Don’t let your investments become an autopilot decision or be trapped. It’s not even mistrusting the government, it is still always healthy to question the status quo. Become resilient - thrive regardless of external circumstances.
I learned this the hard way when the virus hit, and I lost my life's work. It was only after that shock that I adopted this "immune" mindset. And you know what? It's made me a 10x better investor. I think more critically about my choices, the businesses/assets I want to own, and how to plan for the unexpected.
Stay resilient,