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JPMorgan Chase CEO Jamie Dimon says investors may be underestimating the risks still lurking in the global economy.

Speaking in a recent interview with Bloomberg, Dimon warned that markets appear unusually comfortable despite persistent inflation and geopolitical uncertainty.

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“Asset prices are kind of high, credits are kind of low,” Dimon said (1). “There’s a lot of complacency in the market.”

Markets have largely rallied on expectations that inflation will continue easing. The Federal Reserve can engineer a so-called “soft landing,” but Dimon suggested investors shouldn’t assume the outlook is that simple (2).

“Inflation is the skunk at the party,” he said. “It’s been coming down, but it seems to maybe have leveled off around 3%.”

If inflation unexpectedly accelerates again, or if markets suddenly price in that risk, investors could face a far more volatile market.

Dimon asserts that inflation pressures extend well beyond oil prices.

“You can look at medical prices, construction prices, insurance prices, wages for certain things,” he said. “Inflation is a big thing. It’s not just oil.”

Even though inflation has cooled significantly since its 2022 peak of 8.0%, it remains above the Federal Reserve’s long-term target of 2% (3). According to the U.S. Bureau of Labor Statistics, the consumer price index is running close to 3% year-over-year earlier this year (4).

Persistent inflation can have wide-ranging consequences for financial markets. Higher interest rates for longer, increased borrowing costs, pressure on stock valuations and tighter credit conditions are all challenges investors may face when inflation runs amok.

Portfolios can also struggle, especially those heavily weighted towards stocks and bonds. That’s why many investors look to assets that have historically performed better during inflationary periods.

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Gold has long been considered a store of value during periods of economic uncertainty and rising prices. It’s not tied to corporate earnings or government debt, so investors turn to it when inflation erodes the purchasing power of currencies.

So if you’re wondering how to hedge against inflation, gold can be a good starting point.

According to data from the World Gold Council, gold prices have increased about 9% per year on average since 1971, roughly matching long-term equity returns and outpacing bonds over the same period (5).

After a record-breaking 2025, gold has continued to see success, trading around $5,176 in March 2026 (6).

One way to invest in this asset is to open a gold IRA with Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to hedge their retirement funds against economic uncertainties.

Download your free information guide today to find out how to get up to $10,000 in free silver on qualifying purchases.

Gold isn’t the only worthy inflation hedge out there, though, and it pays to diversify.

As prices rise across the country, rents and property values often follow suit. This means real estate can serve as a hedge, allowing investors to preserve purchasing power while potentially generating income.

Rental properties have long been a proven source of steady, passive income for high-net-worth investors. It’s no wonder that real estate accounts for nearly 25% of the typical family office portfolio, according to research from UBS (7).

However, the time and cost of managing and maintaining properties can prevent some from accessing this market.

That’s where fractional real estate investment platforms can help.

Companies like mogul offer fractional ownership in blue-chip rental properties, giving investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or 3 a.m. tenant calls.

Founded by former Goldman Sachs real estate investors, the mogul team handpicks the top 1% of single-family rental homes nationwide for you. Simply put, you can invest in institutional-quality offerings at a fraction of the usual cost.

Each property undergoes a vetting process that requires a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10 to 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

Real assets secure every investment and are not dependent on the platform’s viability. Each property is held in a standalone Propco LLC, so investors own the property — not the platform. Blockchain-based fractionalization adds an extra layer of security, ensuring a permanent, verifiable record of each stake.

Getting started is quick and easy. Just sign up for an account and browse available properties. Once you verify your information with the team, you can invest like a mogul in just a few clicks.

Investors can also access private commercial real estate deals that were previously available only to institutions.

If diversifying into multifamily and industrial rentals appeals to you, you could consider investing with Lightstone DIRECT, a new investing platform from the Lightstone Group, one of the largest private real estate companies in the country with over 25,000 multifamily units in its portfolio.

Since they eliminate intermediaries — brokers and crowdfunding middlemen — accredited investors with a minimum investment of $100,000 can gain direct access to institutional-quality multifamily opportunities. This streamlined model can help reduce fees while enhancing transparency and control.

And with Lightstone DIRECT, you invest in single-asset multifamily deals alongside Lightstone — a true partner — as Lightstone puts at least 20% of its own capital into every offering. All of Lightstone’s investment opportunities undergo a rigorous, multi-stage review before being approved by Lightstone’s Principals, including Founder David Lichtenstein.

How it works is simple: Just sign up with your email, and you can schedule a call with a capital formation expert to assess your investment opportunities. From here, all you have to do is verify your details to begin investing.

Founded in 1986, Lightstone has a proven track record of delivering strong risk-adjusted returns across market cycles with a 27.6% historical net IRR and 2.54x historical net equity multiple on realized investments since 2004. All told, Lightstone has $12 billion in assets under management — including in industrial and commercial real estate.

As such, even if multifamily rentals don’t appeal to you, Lightstone could still serve you well as an investment vehicle for other real estate verticals.

Get started today with Lightstone DIRECT and invest alongside experienced professionals with skin in the game.

Dimon’s warning about market complacency highlights the importance of being a diversified investor.

“We look at the broad range of outcomes,” he said in the Bloomberg interview.

Retail investors often struggle because they chase trends and panic during downturns. That’s one reason some investors are turning to alternative assets with low correlation to the stock market.

In 1999, the S&P 500 peaked, and it took 14 long years to fully recover.

Today? Goldman Sachs is forecasting just 3% annual returns from 2024 to 2034. It sounds bleak but not surprising: the S&P is trading at its highest price-to-earnings ratio since the dot-com boom. Vanguard isn’t far off, projecting around 5%.

In fact, nearly everything feels priced near all-time highs — equities, gold, crypto, you name it.

That’s why billionaires have long carved out a slice of their portfolios in an asset class with low correlation to the market and strong rebound potential: post-war and contemporary art.

It may sound surprising, but more than 70,000 investors have followed suit since 2019, using Masterworks. The platform offers fractional shares of works by Banksy, Basquiat, Picasso and more.

Masterworks has sold 25 artworks so far, yielding net annualized returns like 14.6%, 17.6% and 17.8%.*

Moneywise readers can get priority access to diversify with art: Skip the waitlist here.

*Past performance is not indicative of future returns. Investing involves risk. See important Regulation A disclosures at Masterworks.com/cd

Ultimately, the biggest risk for many investors isn’t inflation or geopolitics — it’s the person staring back at them in the mirror.

Being consistent and having a long-term plan are two of the most important factors in building wealth. Without a clear strategy, you may miss out on key gains or make poor decisions under pressure.

A professional advisor can help you avoid these big mistakes by crunching the numbers and building a plan tailored to your specific needs.

But hiring an advisor can be a lifelong commitment, so finding someone you can trust is crucial.

That’s where Advisor.com can come in. The platform connects you with an expert near you for free.

Advisor.com does the heavy lifting for you, vetting advisors based on track record, client ratios and regulatory background. Plus, their network comprises fiduciaries, who are legally required to act in your best interests.

Just enter a few details about your finances and goals, and Advisor.com’s AI-powered matching tool will match you with a qualified expert best suited to your unique financial goals and preferences.

Set up a free initial consultation with no obligation to hire to see if they’re the right fit for you.

Dimon’s core message is simple: Markets may be pricing in a best-case scenario while ignoring some very real risks.

Investors can’t control inflation, central bank policy or geopolitical tensions. But they can control how they prepare their portfolios.

And if Dimon is right that inflation remains the “skunk at the party,” investors who diversify and plan may avoid being caught off guard when markets change direction.

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Bloomberg News (1); Investopedia (2); World Data (3); BLS (4); World Gold Council (5); Gold Price (6); UBS (7)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.