The Barron's cover story was about the potential for private equity and private credit to be available in 401k plans. If you have read anything about this story, it probably included something to the effect of this being good for the asset managers and how they've been trying to get into this market for a while.

I think is a monumentally bad idea. The odds of this ending badly are very high. Contradiction alert, they probably should be available in plans, I am not a fan being denied access by someone else but it is up to us figure out they are looking for bagholders and to have the sense to avoid putting our 401k money into private equity. One of the comments on the Barron's article said, "if it's such a good deal, why are they offering it to you?" That was pretty much what I was taught about IPOs when I first started at Lehman Brothers in 1989. 

Does anyone think the asset managers have an altruistic ambition to level the playing field for the individual investor? My dude, no. If you gots to have it, skip one contribution and put that money into one of the asset managers benefitting from the fee income.

After looking at the results of a couple of the ReturnStacked ETFs, a reader asked about the Return Stacked Global Stocks & Bonds ETF (RSSB). 

I think the replication is pretty accurate and being short stacks like VTI/VXUS / UTWO/UTEN/UTHY/UFIV, as illustrated on the chart, should address most of the cost of financing. The results are within a few basis points of being identical. For someone interest in portable alpha and wanting to take on a little duration in a treasury portfolio, it seems to work. 

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