Very interesting framing: Would you rather own ALL the gold in the world OR own {NVIDIA, Apple, Alphabet, Microsoft, Amazon, TSMC, Meta, Ramco, Broadcom, Tesla, Berkshire} & $8 trillion of cash?

Gold is definitely an unproductive asset in one’s locker - but has been a great hedge (esp. if you believe in returns rotation over the long term)

I’m squarely in the camp that Alpha (as a GenZ investor, aged 28) comes from private markets - so I agree w/ Akshay - I vote for Pvt Markets with my time & money (over Gold or even Public Markets)