As I toil over my little tome and approach the home stretch—I think—I’m gaining renewed respect for life’s forks in the road. They lead me to, among other things, end my brief hiatus from the blogosphere by welcoming you to Part 2 of a rarefied approach to asset management. Part 1 suggested that you identify the portfolio’s precious metals—I’m showing my hand, so anyone uninterested in sparkles may favor the term “commodities”—and savor them. Inevitably, some of the aforementioned forks lead to rough patches and that’s where Part 2, the Gold Standard, comes in. You’ll have to set your own; and reset it, if need be. Today it could be a daydream of coasting through Tuscany on a Vespa and if tomorrow proves especially arduous—tax season, recession, writer's block; take your pick—then you may need to up the ante and replace that scooter with a Ducati. In short, I’m advocating flexibility and persistence (reset, reset, reset). Also, hedge your bets by keeping a ledger or journal of your assets should you require a reminder. You're reading one of mine (I absolutely adored Tuscany), as I hope that by putting this advice in print I've increased the likelihood of heeding it. See you next week.
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