Evergreen/Gavekal publishes a regular newsletter regarding investments. In a recent newsletter, they describe the benefits of an actively management portfolio.
One key point is that a safer portfolio is one that may not catch all the highs of a bull run, nor does it catch all the lows of a bear run. And in the end, this is actually better for portfolio performance. The end appreciation of such a portfolio is actually better than one which follows the equity market directly.
From the newsletter, they suggest the following style of portfolio instruments and activities are considered
—and include when attractively valued—a variety of components, including but not limited to: specialized stock market investments (e.g., actively-managed, high-dividend, covered calls, long/short equity, actively-rebalanced, preferred stocks, etc.), specialized bond investments (e.g., actively-managed, convertible bonds, inflation-protected securities, principal-protected notes, etc.), alternative investments (e.g., master limited partnerships, royalty trusts, REITS, commodity funds/advisors, private equity, hedge funds, timber, etc.) , annuities, variable life, and others.
I would go one further step and explicitly state that obtaining these types of instruments in additional currencies may yield additional stability.