Group III
Asset classes and instruments
What investors actually buy — equities, bonds, funds and ETFs, and the rest of the instrument universe.
- 14Equities: the first instrumentWhat a share is, legally and economically — the varieties, the rights, and the honest risk lane at the small end.11 lessons
- 15Bonds and fixed income: lending, pricedThe other half of the market — the instrument, the issuers, credit, and the curve.16 lessons
- 16Funds and ETFs: owning through a wrapperHow most people actually own securities — with ETFs given first-class treatment.19 lessons
- 17Options and derivatives: contracts on other thingsThe highest-complexity lane, with the risk arithmetic assembled at the end rather than asserted at the start.16 lessons
- 18Foreign exchange: the price of one money in anotherThe largest market nobody invests in — written for the reader who already carries currency risk, and for the one who met FX as an advert.12 lessons
- 19Crypto and digital assets: technology, asset and industryThe strictest lane in the map — the technology explained accurately, without lending credibility to the promotion around it.16 lessons
- 20Commodities and real assets: things you can touchPhysical things that mostly produce no income — reached through instruments that behave unlike the thing itself.9 lessons
- 21Alternative investments: everything else, and what it costsA category defined by exclusion, taken apart fee- and risk-forward — where the returns come from, and what consumes them.13 lessons