Lesson 1Commodities exposure fi individuals: ETFs, ETNs, commodity-linked structured productsDis section cover how individuals gain commodity exposure usin' ETFs, ETNs, an' structured products, comparin' structures, roll yield, trackin' error, counterparty risk, tax treatment, an' how dese tools fit within diversified portfolios.
Physical vs futures-based commodity ETFsETNs, issuer credit risk, and payoff termsRoll yield, contango, and backwardation effectsTracking error and benchmark selection issuesCommodity-linked structured product featuresTax, K‑1s, and portfolio role of commoditiesLesson 2Collectibles an' tangible assets (art, wine, watches): valuation, provenance, storage, consignment marketsDis section review collectibles an' tangible assets such as art, wine, an' watches, focusin' pon valuation methods, provenance checks, storage an' insurance, fractional an' fund structures, an' how consignment an' auction markets operate.
Art, wine, and watch market overviewsValuation drivers, comps, and rarity premiumsProvenance, authenticity, and fraud risksStorage, insurance, and logistics solutionsFractional ownership and fund structuresAuction, dealer, and consignment channelsLesson 3Real estate crowdfunding an' fractional property platforms: structure, returns, feesDis section detail real estate crowdfunding an' fractional property platforms, includin' deal structures, equity vs debt offerings, expected returns, fee layers, liquidity limits, an' how investors assess sponsors, markets, an' property risks.
Equity vs debt real estate deal structuresSingle-asset vs diversified property vehiclesSponsor due diligence and track record reviewProjected returns, waterfalls, and stress testsPlatform, asset management, and other feesLiquidity limits, lockups, and exit optionsLesson 4Venture capital an' angel investin' platforms: deal flow, syndication, carry, dilution, minimumsDis section explain how online venture an' angel platforms work, includin' deal sourcin', syndicate structures, carry an' dilution mechanics, minimum check sizes, an' how individuals can evaluate access, risks, an' expected timelines.
Platform-based deal sourcing and screeningSyndicate structures, SPVs, and lead investorsCarry, fees, and investor return waterfallsEquity dilution, follow-on rounds, pro rataMinimum check sizes and portfolio constructionRisk, illiquidity, and exit time horizonsLesson 5Tokenized securities an' security tokens: legal wrapper, platforms, custody, secondary marketsDis section explain tokenized securities an' security tokens, coverin' legal wrappers, issuance platforms, investor eligibility, custody an' transfer agents, secondary tradin' venues, an' how tokenization change liquidity an' settlement.
Security token legal and regulatory basicsPrimary issuance platforms and workflowsInvestor accreditation and KYC processesCustody, transfer agents, and cap tablesSecondary trading venues and liquidityBenefits and limits of asset tokenizationLesson 6Private credit funds an' direct lendin': strategies, manager selection, fee an' liquidity structuresDis section explore private credit funds an' direct lendin' vehicles, includin' core strategies, underwr itin' approaches, manager selection, fee an' liquidity structures, covenants, an' how dese funds behave across credit cycles.
Direct lending, mezzanine, and specialty financeUnderwriting standards and covenant packagesManager due diligence and track recordFee structures, hurdles, and clawbacksLiquidity terms, gates, and side pocketsCycle risk, defaults, and recovery patternsLesson 7Cryptocurrencies an' tokenized assets: on-chain fundamentals, token economics, custody optionsDis section examine cryptocurrencies an' tokenized assets, focusin' pon on-chain fundamentals, token economics, consensus an' incentives, custody options, exchange an' smart contract risks, an' how individuals evaluate access an' sizin'.
Layer-1 vs application and utility tokensOn-chain metrics, usage, and network effectsToken supply schedules, burns, and emissionsCentralized vs self-custody wallet optionsExchange, smart contract, and protocol risksPosition sizing, volatility, and regulationLesson 8Peer-to-peer lendin' an' consumer/business marketplace loans: underwr itin', credit tiers, defaultsDis section explore peer-to-peer lendin' an' marketplace loans to consumers an' businesses, focusin' pon underwr itin' models, credit tiers, expected defaults, platform incentives, servicin', an' how investors build an' monitor loan portfolios.
Platform underwriting models and data sourcesConsumer vs business loan product structuresCredit tiers, pricing, and expected loss ratesDefaults, recoveries, and collection practicesDiversification, sizing, and reinvestment plansRegulation, platform risk, and conflictsLesson 9Hedge fund an' liquid alternative wrappers available to individuals: strategies, liquidity, fee alignment, platform accessDis section introduce hedge fund an' liquid alternative wrappers accessible to individuals, outlinin' common strategies, liquidity terms, fee alignment, platform access routes, minimums, an' how dese vehicles interact wid broader portfolios.
Common hedge fund and liquid alt strategies’40 Act liquid alt and UCITS fund structuresLockups, gates, and redemption mechanicsManagement, performance, and hurdle feesPlatform access, minimums, and ticket sizesRole in diversification and risk budgeting
