Invest in the open.
The Wealthy track, made concrete. Two model engines, published in the open — an all-weather chassis built to ride through any economic season, and a Fundamental portfolio of quality businesses owned outright. Below them, four risk on-ramps that blend the two to your horizon, your stomach, and your needs — so you can take on the right amount of risk on purpose, not by accident. Yours to run; you make the call.
Everything here is educational and illustrative — model allocations in percentages, named vehicles as examples of a concept. It is not investment advice, not a recommendation to buy or sell any security, and not a solicitation. No real account, balance, or position is shown. Markets carry risk of loss. Do your own work, or talk to a licensed advisor, before risking capital.
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All-Weather
Dalio's all-weather chassis — engineered to ride through any of the four economic seasons with the smallest stomach-turn. We express the equity slice through the Fundamental portfolio.
The All-Weather chassis
Dalio's insight: you can't predict the season, so build a portfolio that survives all four — growth, recession, inflation, deflation. Balance risk across assets that each win in a different regime. We run the chassis, but express the equity slice through the Fundamental portfolio.
The Fundamental portfolio
Quality businesses chosen on fundamentals — durable moats, real free cash flow, pricing power, owner-operator capital allocation. Bought to own, not to trade. Weights below are the sleeve's internal mix.
Best-in-class capital allocation; a diversified cash machine in one ticker.
Search + distribution moat; optionality in cloud and AI, priced reasonably.
Enterprise lock-in and recurring cash flow; the rails of business software.
Takes a clip of global spend; pricing power, capital-light, secular tailwind.
Membership flywheel and customer-captive economics; recession-durable.
Sole supplier of EUV lithography; a chokepoint in the entire chip supply.
Diversified, defensive cash flow; ballast inside the growth sleeve.
A brand and distribution moat measured in decades; dividend compounding.
A broad quality-factor basket — diversified ballast beneath the single names.
The growth on-ramps add a small convex sleeve, sized so a total loss is survivable while the upside is uncapped. It is built from three replicable parts: Passive crypto index · Fundamental crypto index · Long-Convexity. Two rules-based on-chain crypto indices for the beta, a long-convexity overlay for the alpha — all self-custodied, all reproducible on your own keys. Detailed below.
Most crypto “indices” are a cap-weighted bag of tickers wrapped in a fund that holds your keys. These are the opposite: two simple rules you can run yourself, on your own wallet, and never give up custody. The rule is the product. One is passive beta; one values a chain like a business.
Sovereign Beta
Cap-weighted majors · 35% cap · quarterly rebalance · self-custodied
Cash-Flow Chain
Weighted by trailing protocol fees / real revenue · semi-annual rebalance · self-custodied
The largest fee-generating network; EIP-1559 burns make it deflationary under load.
Top fee generator by activity; cash flows scale with usage, not hype.
On-chain perp exchange throwing off real, attributable trading revenue.
The blue-chip lending market; earns a spread on billions in deposits.
The dominant DEX; protocol fees track real trading volume.
Usage-priced infrastructure; revenue grows with on-chain TVL secured.
Earns real yield on tokenized treasuries backing its stablecoin.
Synthetic-dollar protocol monetizing the funding-rate spread.
To run either yourself: hold the basket in a self-custody wallet, buy to the weights, and rebalance on the cadence (quarterly for passive, semi-annual for fundamental). No fund, no manager, no one else's keys. The weights and the rule are above — that's everything you need. Crypto is volatile and individual tokens can go to zero; this is a concept to study, not a recommendation to buy.
Long-Convexity
Pay a little to win a lot. Defined-risk, positive-skew positions — small, frequent, survivable losses in exchange for rare, outsized wins. Never bet more than you can watch go to zero.
How each on-ramp would have behaved over the last three years, paper-traded from a $100 base, monthly-rebalanced. Your matched on-ramp — All-Weather — is drawn bold against the others and a 60/40 benchmark.
| on-ramp | total | CAGR | max draw | vol | sharpe* |
|---|---|---|---|---|---|
| Bedrock | +20.6% | +6.4% | -1.3% | 2.3% | 0.85 |
| All-Weather | +21.4% | +6.7% | -3.5% | 4.6% | 0.48 |
| Compounder | +28.1% | +8.6% | -8.4% | 10.3% | 0.40 |
| Convex | +33.5% | +10.1% | -12.6% | 15.3% | 0.37 |
| 60 / 40 benchmark | +26.2% | +8.1% | -7.2% | 10.4% | 0.34 |
* sharpe ≈ (CAGR − 4.5% cash) ÷ annualized vol · modeled monthly returns, rebalanced monthly · Jul '23 – Jun '26
The point isn't to hand you a portfolio. It's to teach you the machine that builds one — so the judgment stays yours. A model you can see, question, and run is worth more than a black box you have to trust. That's the The method, demonstrated in the open, so you can own it.