I Love Goooooold?! :) | Frank Vasquez | 184

20 snips

Dec 14, 2025

Frank Vasquez, a retired attorney and host of Risk Parity Radio, dives into the intriguing role of gold in modern portfolios. He discusses how gold serves as speculation rather than a gamble, and its unique benefits for retirees versus accumulators. Frank explains the differences between physical gold and ETFs, revealing their impact on diversification and volatility. He recommends holding about 10-15% of gold for retirement, while emphasizing the importance of practical simplicity and effective portfolio allocation for financial success.

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INSIGHT

Gold Is Speculation, Not Gambling

Gold is a speculation, not an investment, because it produces no cash flow.
Speculation differs from gambling: gold has a positive expectation while gambling has a negative one.

INSIGHT

Central Banks Are Powering Gold's Rally

Gold's recent rally is driven largely by central bank buying and international demand.
Gold shows near-zero correlation to stocks and bonds, making it a genuine diversifier in portfolios.

INSIGHT

Correlation Is The Source Of Diversification

Correlation measures whether assets move together and drives diversification benefits.
Combining assets with low correlations lowers portfolio volatility without proportionally cutting returns.

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Frank Vasquez (aka 'Uncle Frank' to the FI community) returns to the show to talk gold and what this shiny speculation is actually doing in a modern FI portfolio. Frank is the voice behind Risk Parity Radio and has a knack for making even the most tangled concepts in life and investing feel approachable. In this episode he tackles:

Gold as speculation, not a gamble
Gold's role in accumulation vs. retirement
Typical gold allocation
Correlation & diversification
Physical gold vs. ETFs

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