Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Gordon Scott has been an active investor and technical analyst or 20+ years.

We show that gold’s long-run return has been well above inflation for over 50 years. Frameworks for estimating gold’s long-term return exist but fall short of a robust approach that aligns with the ...

The economic literature has long attributed non-zero expected excess returns in currency markets to time-varying risk premiums demanded by risk-averse investors. This paper, building on Bacchetta and ...

This update discusses Gladstone Capital (GLAD), which remains a component in the Total Return portfolio. The amount of first-lien positions has increased to 72%, with around 10% of the portfolio ...