[afryer]

Totally, understand what you are saying and I think you will have success. I'm not saying to necessarily take more risk, I am saying to use 2/3 of capital to get access to tax efficient 60/40 exposure. Then I would look to further diversify. Whether it's munis to capture credit risk premiums, managed futures for commodity risk premiums, or taleb-style option trading for tail risk premiums. I think these simple liquid alternative funds could improve risk adjusted returns for boglehead style X-fund investors and not increase complexity or break the investment philosophy. Happy investing.