In this episode we answer emails from Ronald, George, Jeff. We celebrate episode 500 by sharing a few “Easter egg” resources, then jump into listener questions that cut through common investing myths. We discuss a portfolio for a non-profit, rant about TIPS with a Wall Street Journal article to back us up, and talk about various choices in withdrawal methods.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Links:

Fairfax CASA Donation Page: Donate - Fairfax CASA

Rant Anthology Slides: Risk Parity Radio Rants Anthology.pdf - Google Drive

Four Quadrant Video: The Four Quadrant Model and the True Meaning of Diversification.mp4 - Google Drive

WSJ Article on TIPS: TIPS_ Inflation-Protected Bonds Dont Help You When Inflation Is High - WSJ Copy.pdf - Google Drive

Bernstein TIPS Article: Riskless at Age 104 - Articles - Advisor Perspectives ("A bond fund manager recently related to me his difficulty in figuring out the role of TIPS in his portfolios. After fumbling for a reply, I realized that he was right: like Social Security, they don’t occupy a formal slot in most folks’ asset allocation. . . . TIPS should be kept mentally separate from the policy asset allocation as well.")

Morningstar Article: Morningstar State_of_Retirement_Income_2025.pdf - Google Drive

EconoMe 2026 Presentation: F. Vasquez EconoMe 2026 Final Slides.pdf - Google Drive

Testfolio Golden Ratio w/CPI-based withdrawals: Portfolio Backtester for ETFs and Asset Allocation | testfolio

Testfolio Golden Ratio w/percentage-based withdrawals: Portfolio Backtester for ETFs and Asset Allocation | testfolio

Breathless AI-Bot Summary:

Episode 500 lands with a simple promise: fewer stories, more data, and portfolio choices that hold up when markets stop cooperating. We share a couple of nostalgic “Easter egg” extras from our back catalog, then dive into listener mail that hits the heart of modern portfolio construction for both individuals and institutions.

First, we tackle a nonprofit investing question about moving from capital preservation to growth using a heavily value tilted stock mix. We break down what that allocation is really buying (small cap value, mid cap value, and a value lean in large caps), why it can shine over very long horizons, and why the same strategy can still test patience for a decade or more. If you’ve ever wondered how to balance expected return against real world tracking error, this section is for you.

Then we hit the big rant: Treasury Inflation Protected Securities (TIPS) are not the inflation shield they’re marketed to be. We walk through the Wall Street Journal’s findings, the 2022 case study, and the bigger point that TIPS are still bonds with rate risk. We also talk about what has tended to help more in inflationary regimes, including commodities, value oriented equities, and managed futures, plus when a TIPS ladder might be a reasonable side tool.

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