The Importance of Maximally Diversifying Your Portfolio

This is not about predicting. It's about being maximally prepared. And so however the inflation shock may manifest by having a thoughtful, maximally diversified set of exposures coming from the commodity complex gives you the best opportunity to make sure you're there in whatever area of main inflation,. unexpected inflation is manifesting from. The thing to kind of wrap up with is now we've put something together that has immense value on its own merit of diversification without any sort of prediction. But it also means that when you decide to tilt a portfolio away from maximal diversification, you can't just look at what's my expected return of this overweight. Now you have to recognize that the moment you dev