Bonds Are Dead: Morgan Stanley Turns to Gold as Inflation Hedge Morgan Stanley recently revealed a 60-20-20 portfolio: 60% stocks, 20% bonds, and 20% gold. For one of Wall Street’s biggest firms to openly admit that inflation is permanent and bonds are dead money is a big deal. Gold is no longer fringe — it’s mainstream. #stock #cash #hedge #electronicdevice #inflationhedge #morganstanley #gold | Peter Schiff