“Sunsets are proof that endings can be beautiful.” – Buddha
While the Indextravaganza has become an annual year-end tradition, I feel it’s appropriate to wind down Alt Blend in its current format with one final recap edition. Selfishly, it makes it easier to search archives for future reference, but it’s also a great way to reflect on how much of my rambling you’ve endured in 2026 before we chart a new path forward.
Don’t worry (or sorry), I’m not going anywhere. But going forward, I will have the privilege of being part of the Thoughts on Money (TOM) team here at TBG. If you aren’t already familiar with TOM (subscribe here!), it’s admittedly far more practical than Alt Blend, and it has evolved to encompass all of our team’s writing contributions outside of David Bahnsen’s Dividend Cafe.
As TOM covers a wide range of topics, like financial planning, risk, investing, economics – even some food/book reviews (with financial relevance, of course) – Alts can fall seamlessly in the mix when needed. While I feel a bit of sadness to officially wrap up Alt Blend after 6 years, 143 editions, and probably close to 1000 hours of my life (a solid half year at 40 hrs/week), I’m far more excited for this next chapter and honored to have been welcomed into the TOM team with open arms.
With that, let’s dig into the final Alt Blend Indextravaganza. Here we go!
Start of the year: Alt Blend Editions 125-126 (1/21/26 thru 2/4/26)
There is no common thread to speak of between these two editions. Just starting the year off all over the place.
- Prediction Marketing: With news of people winning big money on world events (like Maduro’s capture), this explored merits, drawbacks, technologies and some of those infamous trades in the prediction market landscape.
- Energy: The concept of energy flow perceived as emotion, viewing energy requirements as a basis for decision-making, and translating this to portfolio construction. Resources are finite, so make the best of them.
Target-dating & Vegas: Alt Blend Editions 127-129 (2/18/26 thru 3/18/26)
Using a financial planning perspective to provide context on glide path funds and staying the course through volatility and media noise.
- Target Dating – Part 1: Target-date funds may be convenient, but they have inherent assumptions that can glide you right off your path – one of which being that investors should hold more bonds going into and during retirement.
- Target Dating – Part 2: Target-date funds come in many flavors, and you may be surprised how many active decisions can be included within a “passive” fund/approach.
- Vagus Nerve: The Vagus Nerve is like the financial planner of our bodies. Better planning leads to better outcomes, and it can be critical for staying the course in the face of media noise like that of the endless alarmist private credit headlines.
An Alts Journey: Alt Blend Editions 130-131 (4/1/26 thru 4/15/26)
Looking briefly at the evolution of liquid Alts and private market interval-fund solutions, and a reminder that gating is a good thing.
- Giving Credit Where (Private) Credit is Due – Part 1: Thinking back on my experience with liquid-Alts solutions over the past two decades, along with some defining characteristics.
- Giving Credit Where (Private) Credit is Due – Part 2: Gratitude for the evolution of interval fund solutions and broader access to private markets, along with trade-offs and gating thoughts.
The world as we know it and what comes next: Alt Blend Editions 132-133 (4/29/26 thru 5/13/26)
Putting our portfolios into a global context and diving into quantum computing.
- The World, Revisited: The world’s balance sheet is massive; investable markets and investor portfolios look very different. If you think your index investing is capturing a “passive” representation of broad investments, think again.
- Quantum Leap: RNostalgia for the incredible show of the late ‘80s/early ‘90s as a jumping-off point for a deeper dive into quantum computing, complete with a physics lesson on things being in two places/states at once (quantum superposition) and how this allows quantum computers to do calculations exponentially faster than classical computers.
Logistics of our packages and energy: Alt Blend Editions 134-136 (5/27/26 thru 6/24/26)
Learning about how all these packages seamlessly show up on our doorstep on a daily basis, and considering the current and future state of energy.
- The Last Mile – Part 1: Leveraging my childhood experience of month-long skateboard deliveries for gratitude in light of the rapid deliveries we take for granted today, and dipping a toe into leasing vs. buying in the logistics world.
- The Last Mile – Part 2: Major logistics providers, how cargo planes are leased or owned, and how we can use Alts to participate in the various stages of transportation, warehousing, and delivery.
- Fuel in Bahrain: Using Led Zeppelin’s “Fool in the Rain” for this pun of a topic (finally) and as a backbone for exploring the current state of energy production, the shortage we face, and reasons for optimism in how we may solve for those needs.
Min-Maxxing: Alt Blend Editions 137-139 (7/8/26 thru 8/5/26)
It is important to decide what to minimize or maximize, as there are always trade-offs involved.
- BetaMaxxing: A throwback to videotapes and then the current trend of “maxxing” that has found its way into investing.
- Maximizing Return or Minimizing Regret? – Part 1: Important differences between “winning by not losing” and “playing not to lose,” and how that matters for income, inflation, and where Alts fit into the conversation.
- Maximizing Return or Minimizing Regret? – Part 2: Index investors may be attempting to both maximize returns while minimizing regret, but that comes with major caveats. And “low cost” DIY investing can come with a significant price.
Recent Alts news: Alt Blend Editions 140-142 (8/19/26 thru 9/16/26)
Opining on some of the latest happenings in the Alts world.
- Some of the Latest Happenings in Alts – Part 1: The pervasive extension of private equity investments, what solutions exist to address it, and an update on crypto indexes.
- Some of the Latest Happenings in Alts – Part 2: Institutional investment teams are understaffed for the increased number of decisions required in the current environment. Global payments are far more seamless due to crypto, and AI agents stand to have a significant impact on our daily lives – hopefully for the better.
- Some of the Latest Happenings in Alts – Part 3: Related-party transactions in the news, lending money to family, and – of course – rounding it all out by fighting the good fight on behalf of private markets and private credit, as the onslaught of disparaging headlines continues.
THANK YOU for being part of this journey with me: not only for reading, but for the questions, kind words, and other dialogue that have come along the way. I hope it has been helpful. It’s not goodbye; it’s see you soon. Until then…
This is the end of Alt Blend.
Steve
