How Bad Could It Get?

The leading investment strategies of the day are:

The university investment model, currently emphasizing non-marketable investments, which I pioneered but which has now become too crowded.

Momentum investing, in which you or your algorithm buy whatever seems to be going up.

Indexing, also a form of momentum investing because most index funds are capitalization weighted.

Risk Parity, which tries to realize equity like returns from fixed income through leverage, although this has faded aft...