- Market analysis · 29 October 2026
Three portfolios against true-flation.
Three common ways to save in Sweden, five years side by side: a robo-adviser with half equities and half bonds, the average Avanza customer and a rule-based portfolio of bitcoin, gold and interest. Who preserved their purchasing power measured against true-flation instead of CPI, and how much did they have to swing for it.
Data through 29 October 2026 · 12 min read
- Market analysis · 23 October 2026
The stock market in dollars and in gold. Two truths over 155 years.
Since 2020 the S&P 500 has risen 14.4 % per year in dollars. Measured in gold it has fallen. I go through 155 years of the stock market to show why, and where we stand today.
Data through 23 October 2026 · 13 min read
- Market analysis · 15 October 2026
The history of fiat currencies
Everything in life is a trade. You trade your time, your energy and your focus for a salary. Money has one job: to preserve what you were paid until you want to use it. I tested the krona, the dollar and gold against that job over 147 years, from 1879, when both currencies could be redeemed for gold.
Data through 14 October 2026 · 16 min read
- Market analysis · 9 October 2026
You think you own 500 companies. You own nine.
We measured 1,027 listed companies in five indices against real inflation, the kind that shows in the gold price. Fewer than half of the companies make it. The indices make it anyway, because a handful of winners carry all the others. That changes what an index fund actually is.
Data through 7 October 2026 · 10 min read
- Market analysis · 2 September 2026
The big trend since 1971 is not growth. It is money.
On 15 August 1971 the dollar stopped being redeemable in gold. Since then the quantity of dollars has multiplied 37 times, consumer prices 8 times and gold 113 times. Share prices have followed the money supply, not run away from it.
Data through September 2026 · 12 min read
