In the John Authers video presented here is a fascinating work done by Principal Global Investors, joining a group of studies of investing for the long term and the Return landscape for Asset Classes ranging from Equity, Bonds, ETFs and so on. Quite interesting to note some of the conclusions of the Report, like the potential increasing allocation to Real Estate and Alternative Credit Markets and the potential for Institutional Investors other than Global Banks to take these Investments (really good from my point of view). Further it is instructive to learn that gold is an opportunistic short-term investment (besides the value it creates) that have high costs of holding, which explains poor performance. Finally ETFs turned from being a good beta (market exposure parameter) investment to being a tactical asset class and losing status from asset allocation to opportunistic. The brilliant Report and the accompanying video discussion can be downloaded here.