The era of gold has not yet ended, but the baton of big pie has been raised high.

Fidelity's global macro director Jurrien Timmer has issued a warning: from the perspective of the Sharpe ratio, gold and big pie show a negative correlation, and big pie is in a stage of preparing to launch, potentially ready to break gold's dominance at any moment. He suggests that investors start with 'four golds and one pie' to balance risk and volatility—this is not only a switch in asset allocation, but also a handover ceremony between tradition and the future. Are you ready?