Lesson 1Commodities exposure for individuals: ETFs, ETNs, commodity-linked structured productsThis section covers how individuals gain commodity exposure using ETFs, ETNs, and structured products, comparing structures, roll yield, tracking error, counterparty risk, tax treatment, and how these 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 and tangible assets (art, wine, watches): valuation, provenance, storage, consignment marketsThis section reviews collectibles and tangible assets such as art, wine, and watches, focusing on valuation methods, provenance checks, storage and insurance, fractional and fund structures, and how consignment and 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 and fractional property platforms: structure, returns, feesThis section details real estate crowdfunding and fractional property platforms, including deal structures, equity vs debt offerings, expected returns, fee layers, liquidity limits, and how investors assess sponsors, markets, and 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 and angel investing platforms: deal flow, syndication, carry, dilution, minimumsThis section explains how online venture and angel platforms work, including deal sourcing, syndicate structures, carry and dilution mechanics, minimum check sizes, and how individuals can evaluate access, risks, and 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 and security tokens: legal wrapper, platforms, custody, secondary marketsThis section explains tokenized securities and security tokens, covering legal wrappers, issuance platforms, investor eligibility, custody and transfer agents, secondary trading venues, and how tokenization changes liquidity and 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 and direct lending: strategies, manager selection, fee and liquidity structuresThis section explores private credit funds and direct lending vehicles, including core strategies, underwriting approaches, manager selection, fee and liquidity structures, covenants, and how these 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 and tokenized assets: on-chain fundamentals, token economics, custody optionsThis section examines cryptocurrencies and tokenized assets, focusing on on-chain fundamentals, token economics, consensus and incentives, custody options, exchange and smart contract risks, and how individuals evaluate access and sizing.
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 lending and consumer/business marketplace loans: underwriting, credit tiers, defaultsThis section explores peer-to-peer lending and marketplace loans to consumers and businesses, focusing on underwriting models, credit tiers, expected defaults, platform incentives, servicing, and how investors build and 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 and liquid alternative wrappers available to individuals: strategies, liquidity, fee alignment, platform accessThis section introduces hedge fund and liquid alternative wrappers accessible to individuals, outlining common strategies, liquidity terms, fee alignment, platform access routes, minimums, and how these vehicles interact with 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
