I had several analysis of the downside. There are many types of risks.

• black swan crash@@ — is mostly about stock market crashes
• scenario planning: long-term asset devalue 

Hi Joshua,

You are not the first one to point out my over-concentration on properties.

I tried diversifying, and took up high-risk alternative investments in U.S. oil fields, Brazil real estate and Singapore private equity.

I am already disillusioned with unit trusts, so I moved some small amount of money gradually out, to build up my own stock portfolio — tiny at the moment.

Not counting highly liquid cash-like instruments, Less than 1% of my net worth is in the traditional “safe” investments like insurance, unit trusts and safe bonds. Therefore, I should consider myself a risky investor. I have allocated my assets rather carefully, overweight on things important to me, such as elder shield, personal accidents,,.

When I have more fund, I plan to invest more into gold, stocks and… Yes more real estate, despite the concentration risk. Question is where

• U.S. offers high rental yield and is my favorite
• China rental yield is very low, but shops might be a good idea
• Resorts in Thailand, Philippines prime locations.