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The Money Machine You've Never Heard Of

From: The Investment Underground
Subject: Why 99% of investors are doing diversification wrong

Your portfolio is broken.

And it's not your fault.

See, everyone told you to "diversify." Buy some stocks. Add some bonds. Maybe throw in a REIT or two.

But here's what they didn't tell you:

That's not diversification. That's decoration.

When the market crashes, everything crashes together. Your "diversified" portfolio becomes a synchronized swimming team heading straight to the bottom.

Ray Dalio figured this out years ago. The guy who built the world's largest hedge fund discovered something most people miss:

You need 12 uncorrelated income streams.

Not 12 different stocks. Not 12 different sectors.

12 streams that move independently. When one zigs, the others zag.

The Math That Changes Everything

Dalio's research shows this approach can cut your risk by 80% while keeping the same returns.

Think about that for a second.

Same upside. 80% less downside.

But here's the problem...

The Diversification Trap

Scott Galloway, the NYU professor who calls out Wall Street's BS, explains it best:

"Everything's on everything now is somewhat correlated."

Why? Because every institution read the same diversification playbook in the 80s. Now when trouble hits, they all panic-sell the same stuff.

The cure became the disease.

The New Playbook

So how do you actually build uncorrelated streams in 2025?

Galloway's doing it. And he's sharing his blueprint:

Stream 1: Individual stock picks
Not index funds. Single companies you research yourself.

Stream 2: Co-investing with VCs
Get into deals alongside professional investors.

Stream 3: Geographic arbitrage
Israeli tech companies. European defense stocks. Places where big money isn't crowded.

Stream 4: Capital expenditure waves
Like Europe's defense spending boom after Ukraine.

Stream 5: Small-cap special situations
Latin America. Eastern Europe. Markets too small for Goldman Sachs to care about.

Stream 6-12: The gaps others ignore
Mid-cap value plays. Commodity cycles. Currency trades. Distressed debt.

The One Thing Everyone Gets Wrong

Most people think diversification means buying different things.

Wrong.

Real diversification means buying things that react differently to the same events.

When inflation spikes, your tech stocks crash but your commodity plays soar.
When rates fall, your bonds rally but your bank stocks drop.
When the dollar weakens, your international positions shine.

That's correlation working for you, not against you.

The Reality Check

Building 12 truly uncorrelated streams isn't easy.

It takes research. It takes patience. It takes saying no to the obvious plays everyone else is making.

But the alternative is watching your "diversified" portfolio move like a single position when things get ugly.

And things always get ugly.

What This Means for You

Start simple. Pick three uncorrelated streams:

1. One defensive play (utilities, consumer staples)

2. One growth bet (tech, biotech, emerging markets)

3. One inflation hedge (commodities, real estate, TIPS)

Test it. Watch how they move relative to each other during market stress.

Then add stream four. Then five.

Build the machine one piece at a time.

The Bottom Line

Dalio's framework isn't about getting rich quick.

It's about staying rich when everyone else is getting poor.

In a world where correlations spike during crises, uncorrelated streams are your insurance policy.

The question isn't whether you can afford to build them.

It's whether you can afford not to.

Want the full breakdown of Galloway's 12-stream strategy? Hit reply and let me know.

Sources:

• The Scott Galloway Playbook - Scribd

• Ray Dalio's Market Crash Advice - Investopedia

• Ray Dalio on Investing Today - Investopedia

Forward this to someone who thinks their 60/40 portfolio is "diversified."