John Dow

The decision to own gold often comes down to a choice between the efficiency of the financial system and the security of a tangible asset. While both physical gold and Gold ETFs track the same spot price, the “truth” about your returns is hidden in the friction of carry costs, tax treatments, and counterparty risks.

Most investors categorize bonds as “safe” and stocks as “risky.” This binary view often overlooks the specific mechanics of the corporate bond market, where the risk isn’t always about a company going bankrupt. Instead, the true risk often lies in the “spread”—the extra yield investors demand over risk-free government Treasuries. In a stable economy, this

How Bond Yields Really Work in a Rising Rate Environment Bond markets often appear counterintuitive. To many, the logic seems simple: when interest rates rise, fixed-income assets should become more attractive because they offer higher payouts. Instead, the reality is often a bloodbath for bond prices. This inverse relationship—where prices fall as yields rise—is the