Infliacija valgo mano FIRE galimybę

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Užkietėjęs Mustachian
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Re: Infliacija valgo mano FIRE galimybę

Standartinė laurizas » Ket Lie 14, 2022 6:24 am

Citi rašė:
Tre Kov 09, 2022 8:35 am
Mano nuomone, commodity ETFs nėra tinkamas instrumentas buy-and-hold tipo investavimui.
Šviežias The Washington post straipsnis "Commodities Never Belonged in Your Portfolio", patvirtinantis Citi nuomonę:

Commodities can make for great trades, but they are often lousy investments. Unless you happen to own your own warehouse, you assume a cost to store them, which means it’s hard to make any money holding them for the long term. If investors get in at a peak chasing fad portfolio construction techniques, the returns can be much worse. The Bloomberg Commodities Index is a good illustration. On a spot basis, it is up 351% in the past two decades, a respectable 7.8% compound annual growth rate that’s just slightly behind the S&P 500 Index’s 9.3%. But that’s not what investors earn when they invest through financial instruments because it doesn’t account for the cost of rolling such futures contracts. Among other things, there’s a sizable cost associated with storing barrels of crude oil, tanks of natural gas and bushels of wheat. In part because of these additional costs, the total return version of the same index — based on financial instruments that track the commodities — is up only 50% in the same period (a meager 2% compound annual growth rate).

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