--- title: "Alternative Investments: Private Markets" description: "How private equity, private credit, crowdfunding, royalties, and collectibles work, what risks they add, and a due-diligence framework before committing capital." canonical: https://www.getswoopr.com/alternative-investments/ source: "Swoopr Investment: https://www.getswoopr.com" --- Learn Investments # Alternative Investments: Private Markets, Collectibles, Royalties and Illiquid Assets What sits outside stocks, bonds, and cash, and what it costs you in exchange. Alternative investments are assets or structures outside conventional publicly traded stocks, bonds, and cash. The category includes private equity, venture capital, private credit, hedge funds, managed futures, real estate, commodities, royalties, litigation finance, and collectibles. Alternatives are not automatically diversifiers or superior investments; many add illiquidity, opaque valuation, high fees, concentration, and fraud risk that a conventional public security typically does not carry to the same degree. Search guides, glossary terms, tools and answers Search Key takeaways Portfolio Management ![A vintage typewriter displaying a page with the words 'Startup Investments,' ideal for business and entrepreneurship themes.](https://www.getswoopr.com/images/hero/alternative-investments.webp) *Photo by [Markus Winkler](https://www.pexels.com/@markus-winkler-1430818) via [Pexels](https://www.pexels.com/photo/white-printer-paper-on-a-vintage-typewriter-4584836/)* ## Direct Answer > Alternative investments are assets or structures outside conventional publicly traded stocks, bonds, and cash. The category includes private equity, venture capital, private credit, hedge funds, managed futures, real estate, commodities, royalties, litigation finance, and collectibles. Alternatives are not automatically diversifiers or superior investments; many add illiquidity, opaque valuation, high fees, concentration, and fraud risk. Swoopr already covers commodities and real estate as individual asset classes elsewhere. This page covers the remaining alternatives, private markets, crowdfunding structures, royalties, and collectibles, along with a due-diligence framework that applies across all of them. ## Key takeaways - "Alternative investment" is a broad category defined mainly by what it is not: not a conventional publicly traded stock, bond, or cash instrument. - Illiquidity is common across the category and is not automatically compensated by higher expected return. - Infrequent or manager-estimated pricing can make reported volatility understate real risk. - Access is often restricted by securities laws, fund minimums, or platform terms, and eligibility rules vary by structure. - Fees, leverage, and manager selection can matter more to the outcome than the underlying asset class label. - A consistent due-diligence framework applies whether the specific vehicle is a private fund, a royalty contract, or a collectible. ## Private equity and venture capital Private equity and venture capital involve ownership stakes in companies that are not publicly traded, typically held through a fund structure rather than purchased directly on an exchange. These commitments generally involve long holding periods, often a decade or more, and capital calls, where an investor commits capital upfront but the fund draws it down over time rather than requiring the full amount immediately. Transparency is typically limited compared with a public company's ongoing disclosure requirements. Manager-selection risk is significant: the difference in outcomes between funds run by different managers in the same strategy can be large, and past performance at the fund-manager level does not reliably predict future results. Access to many private equity and venture capital funds is restricted by securities laws or fund terms to investors meeting specific eligibility criteria. Swoopr covers both in depth as separate disciplines, because their economics differ more than the shared label suggests: [Private Equity](https://www.getswoopr.com/alternative-investments/private-equity/) sets out the general partner and limited partner structure, capital calls, the J-curve, the full fee stack, and why reported returns need careful reading. [Venture Capital](https://www.getswoopr.com/alternative-investments/venture-capital/) covers the funding stages, the power-law return distribution that makes an average industry figure a poor personal expectation, dilution and liquidation preferences, and the access problem. ## Private credit Private credit refers to lending arrangements that occur outside public bond markets, where a fund or platform originates or purchases loans directly rather than the loan being securitized and traded publicly. The absence of a daily market price does not eliminate the underlying credit risk; it just means that risk is not being continuously repriced by public markets the way it is for a comparable publicly traded bond, covered in Swoopr's [Fixed Income & Bonds](https://www.getswoopr.com/fixed-income-bonds/) hub. ![Close-up of a hand holding 2000 Russian Ruble banknotes, financial concept.](https://www.getswoopr.com/images/accent/alternative-investments-accent-1.webp) *Photo by [Bia Limova](https://www.pexels.com/@bia-limova-1908542654) via [Pexels](https://www.pexels.com/photo/hand-holding-russian-ruble-banknotes-close-up-33175664/)* Evaluating a private credit position requires the same underwriting questions a public bond investor would ask, applied without the benefit of public market pricing: underwriting quality, seniority in the capital structure, covenants protecting the lender, collateral backing the loan, how much leverage the borrower or the fund itself is carrying, and realistic recovery assumptions if the borrower defaults. Swoopr's [Private Credit & Direct Lending](https://www.getswoopr.com/private-credit-direct-lending/) guide covers this asset class in depth: business development company (BDC) structure and leverage limits, loan seniority (senior secured, unitranche, mezzanine), leveraged loans and covenant-lite risk, and the interval-fund and accredited-investor routes individual investors use to get access. ## Infrastructure investing Infrastructure investing means taking an ownership or lending stake in long-lived physical assets that provide an essential service, such as toll roads, airports, seaports, water utilities, electricity transmission, pipelines, and communication towers. Many of these assets operate under long-term contracts, government concessions, or regulated-rate structures that can produce relatively stable, sometimes inflation-linked cash flows over multi-decade horizons, which is the main appeal relative to more cyclical assets. Individual investors can access listed infrastructure through publicly traded companies or exchange-traded funds that hold utility, transportation, and energy-infrastructure stocks, with the same daily liquidity as any other public security. Unlisted infrastructure funds instead hold direct stakes in specific projects, typically with fund lockups of a decade or more, capital calls, and limited investor eligibility, similar in structure to private equity. Both approaches carry regulatory and political risk, since a project's economics often depend on a government-set rate, concession term, or permit that can change; unlisted structures add the leverage, valuation, and liquidity risks common to private funds generally, plus concentration risk if a single project or counterparty dominates the fund. Swoopr's [Infrastructure Investing](https://www.getswoopr.com/alternative-investments/infrastructure-investing/) guide covers the category in full, including the distinction between regulated, contracted and merchant revenue models that determines nearly all of the risk, when inflation linkage is real and when it is not, the trade-offs between listed and unlisted access, and the master limited partnership tax mechanics that surprise investors who hold them inside an IRA. ## Crowdfunding and peer-to-peer structures Online crowdfunding and peer-to-peer platforms can give individual investors access to securities or loans that were historically difficult to reach directly, using offering structures and exemptions defined under securities law. These structures vary in what they actually offer: some involve equity in a private company, others involve debt, and the specific offering exemption used determines investor eligibility limits, disclosure requirements, and resale restrictions. The platform hosting an offering is not the same as the issuer making the offering, and a platform's role, marketing, screening, and custody functions should be understood separately from the quality of any specific issuer or loan listed on it. Accessibility through a platform interface should never be equated with reduced risk; the underlying security or loan carries whatever risk its own structure and issuer create, and resale before maturity or exit can be limited or unavailable. Regulation Crowdfunding is the exemption most people mean by the word, and it carries specific guardrails. The SEC states that every Regulation Crowdfunding transaction must take place online through an SEC-registered intermediary, either a broker-dealer or a funding portal; that a company may raise a maximum aggregate of $5 million through crowdfunding offerings in a 12-month period; that the amount an individual non-accredited investor may commit across all crowdfunding offerings in a 12-month period is capped; and that securities purchased in a crowdfunding transaction generally cannot be resold for one year. Offerings are also subject to bad-actor disqualification provisions that bar issuers with certain disciplinary histories. The dollar ceiling is adjusted for inflation periodically under the JOBS Act, so confirm the figure currently in force on the SEC's own page before relying on it. Not everything sold on a crowdfunding platform is a Regulation Crowdfunding offering. The same platform can also host Regulation A offerings and Regulation D private placements, which sit under different exemptions with different eligibility conditions, disclosure obligations, and resale restrictions. The exemption named in the offering document, not the platform's marketing language, determines what the issuer was required to disclose, whether an investment cap applies to you, and how long you may be unable to sell. Peer-to-peer and marketplace lending raise a separate structural question that a lending interface tends to obscure. Establish from the offering document whether you are acquiring a direct interest in the underlying loan or a note issued by the platform whose payments merely depend on that loan, because the two answers differ in what happens if the platform itself fails rather than the borrower. Either way, a single loan concentrates credit risk in one obligor, and any expected-return figure a platform publishes describes its own historical loan book rather than a market-wide rate available to a new lender. Real-estate crowdfunding is the largest single category and Swoopr covers it separately: [Real Estate Crowdfunding](https://www.getswoopr.com/real-estate-reits/real-estate-crowdfunding/) works through accredited versus non-accredited access, the fee stack, and how a platform deal differs from a publicly traded REIT. ## Direct small-business ownership Buying and operating a small business or franchise directly is a fundamentally different kind of alternative investment than the fund-based structures above: the investor is typically an active operator rather than a passive capital provider, and the return depends heavily on that operator's own skill and effort, not only on the business's existing performance. The U.S. Small Business Administration outlines several standard approaches to valuing a business before purchase, including capitalized earnings, cash flow capacity, and tangible-asset methods, since there is no continuous public market price to rely on the way there is for a stock. ![Flat lay image of small business finance concept with coins, calendar, and smartphone calculator.](https://www.getswoopr.com/images/accent/alternative-investments-accent-2.webp) *Photo by [Leeloo The First](https://www.pexels.com/@leeloothefirst) via [Pexels](https://www.pexels.com/photo/calendar-and-scrabble-tiles-7163963/)* Financing a purchase commonly combines the buyer's own capital, seller financing, and a loan, including SBA-guaranteed loan programs designed for exactly this purpose; many of these loans require a personal guarantee, which extends the investment's risk beyond the capital initially committed. Due diligence before a purchase should cover financial statements and tax returns, existing contracts and leases, required licenses and permits, pending litigation, and, for a franchise, the franchisor's disclosure documents and territory restrictions. Unlike a diversified fund, a single small-business purchase concentrates an investor's capital, labor, and often personal financing guarantees in one operating entity. ## Royalties and specialty cash flows Royalty investments provide a claim on cash flows generated by an underlying asset or contract rather than ownership of the asset itself. Common categories include music royalties tied to a catalog's earnings, mineral and oil-and-gas royalties tied to resource extraction, and intellectual-property royalties tied to licensing agreements. Evaluating a royalty investment requires understanding the legal nature of the ownership interest being sold, the contractual duration of the royalty stream, the counterparty obligations of whoever is paying the royalty, how the interest is valued in the absence of a public market, and how concentrated the cash flow is in a single catalog, well, or license rather than a diversified pool. ## Collectibles Collectibles, including art, watches, coins, wine, classic cars, and memorabilia, can carry large bid-ask spreads between what a buyer will pay and what a seller can realize, alongside ongoing costs like storage, insurance, and authentication that a financial security does not typically require. Pricing is often opaque: a single publicized auction result does not establish a reliable market price for similar items, and provenance or condition differences between two seemingly similar items can produce very different values. ![A variety of international coins scattered on a light background, showcasing different currencies.](https://www.getswoopr.com/images/accent/alternative-investments-accent-3.webp) *Photo by [cottonbro studio](https://www.pexels.com/@cottonbro) via [Pexels](https://www.pexels.com/photo/gold-and-silver-round-coins-3943718/)* Past appreciation in a specific collectible category should never be presented as evidence of a reliable expected return going forward. Publicized sales figures tend to reflect the most notable, best-preserved, or most sought-after examples, which is a form of survivorship that can make the category as a whole look more consistently profitable than most individual holdings within it actually are. Swoopr's [Collectibles](https://www.getswoopr.com/alternative-investments/collectibles/) guide works through the full round trip with numbers, covering buyer premiums and seller commissions, storage, insurance and authentication costs, why published category indices systematically overstate returns, the higher federal tax rate applied to net long-term gains on collectibles, and what a fractional-ownership platform is actually selling. ## Due-diligence framework Before committing capital to any alternative investment, the same set of structural questions applies regardless of the specific asset type: 1. What is the legal structure of the investment, and what rights does it actually confer? 2. What are the investor eligibility requirements, and do you meet them? 3. Who holds custody of the underlying asset or capital? 4. What valuation method is used, and how often is it updated? 5. What are the liquidity terms: can the position be sold, and under what conditions? 6. What is the fee waterfall, including management fees, performance fees, and any hidden costs? 7. How much leverage is used, at the investment level or the underlying asset level? 8. What counterparty exposure exists, and what happens if a counterparty fails? 9. How is the investment reported for tax purposes? 10. Are audited financial statements available, where applicable to the structure? 11. What conflicts of interest exist for the sponsor, manager, or platform? 12. What are the exit mechanics: how and when can the position actually be closed out? ## Private-market due-diligence playbook The twelve-question framework above covers what to ask. This section covers how to apply those questions to private funds and private placements specifically, where the documents and mechanics differ materially from evaluating a public security. ### Reading the offering documents A private fund's offering documents typically include a private placement memorandum (PPM), limited partnership agreement (LPA), and subscription agreement. The PPM describes the strategy, the risks, and the team. The LPA governs the actual legal relationship and contains the definitive fee and governance terms. The subscription agreement records the investor's commitment. When these documents conflict, the LPA typically controls. Read the LPA, not only the PPM; PPMs are marketing documents, and the material restrictions on investor rights are in the LPA. Key LPA provisions to locate before signing include: the management-fee base (committed capital versus net asset value, since the two diverge significantly in early years), the carried-interest calculation basis and hurdle rate, whether the carry is deal-by-deal or fund-level (deal-by-deal carry means the general partner can receive performance fees on winning positions while later losses remain unrecouped by the investor), clawback provisions and whether they are actually enforceable in practice, the key-person clause and what happens to investor rights if named principals leave, and the general partner's removal or no-fault termination threshold. ### Evaluating track record and selection bias A manager presenting past fund performance should be asked: which funds are included, which funds are excluded and why, whether the returns are audited, and what the distribution between realized and unrealized value is. Realized returns are cash in hand; unrealized returns are the manager's own estimate of positions not yet sold. A fund with a high multiple of invested capital but most of it unrealized is making a prediction, not reporting a result. Manager selection within private markets is a meaningful driver of return in a way that is less true for diversified public-market exposures. The difference in outcomes between top-quartile and bottom-quartile private equity funds has historically been larger than the equivalent dispersion in public equity funds, and persistence of manager rank across funds is imperfect. Past quartile rank is a signal worth examining, but not a reliable forecast. ### Capital call logistics and liquidity planning A capital commitment is a binding obligation to fund calls when issued, typically on 10 to 15 business days' notice. The unfunded portion of a commitment is not sitting in the fund earning a return; it must be held available in liquid form by the investor. Common practice is to hold the uncalled commitment in money market instruments or short-term bonds while keeping it accessible on short notice. The implications for personal liquidity are material: a $500,000 commitment drawn over five years means the investor maintains roughly $400,000 in accessible liquid form for years before the capital is needed. Failing to meet a capital call typically results in severe penalties under the LPA, including possible forfeiture of the investor's existing interest in the fund at a steep discount. Verify the cure period (how long after a missed call before penalties trigger) and understand exactly what happens under the agreement before committing. ### The J-curve and interpreting early-fund performance A private fund that is one to three years old and showing negative or low returns is not necessarily performing poorly. Fees and organizational expenses are charged from inception, while investments are held at cost or near-cost and have not yet appreciated or been exited, so reported net asset value sits below contributed capital in the early years. The fund's performance figure at year two carries almost no information about the eventual outcome. Evaluating a private fund manager based on early-vintage-year returns is a common analytical error; fund-level performance should be read from the cash-on-cash multiples of vintage years old enough to have meaningful realized distributions, which typically means funds at least seven to ten years old. ### Fee-stack calculation The full economic cost of a private fund allocation includes: the management fee (typically 1.5% to 2% annually on committed or net asset value), the carried interest (typically 20% of profits above the hurdle rate), any organizational expenses charged to the fund, fund-level transaction and monitoring fees paid by portfolio companies, and, in a fund-of-funds structure, a second layer of management and performance fees. Modeling these in combination over a realistic fund life, with a sensitivity check on exit timing and gross return assumptions, is how an investor converts a headline "2 and 20" description into an actual expected net return at different gross return levels. At gross returns below the hurdle rate an investor pays management fees with no performance fee offset; at high gross returns the carry becomes the largest cost component. ## Common mistakes - Treating illiquidity as automatically compensated by a higher expected return. - Reading a smooth, infrequently priced return series as evidence of low real risk. - Assuming platform accessibility means reduced underlying investment risk. - Skipping the fee-waterfall question because performance fees are less visible than a fund's headline expense ratio. - Treating a single publicized sale price as a reliable market value for a collectible category. - Concentrating too much capital in one manager, royalty stream, or collectible category. - Not confirming exit mechanics before committing capital that may be needed sooner than expected. ## Where to go next - [Private Equity](https://www.getswoopr.com/alternative-investments/private-equity/): fund structure, capital calls, the fee stack, and how to read reported returns honestly. - [Venture Capital](https://www.getswoopr.com/alternative-investments/venture-capital/): funding stages, the power-law return distribution, dilution, liquidation preferences, and access. - [Infrastructure Investing](https://www.getswoopr.com/alternative-investments/infrastructure-investing/): regulated, contracted and merchant revenue models, and listed versus unlisted access. - [Collectibles](https://www.getswoopr.com/alternative-investments/collectibles/): transaction and carrying costs, survivorship bias in reported indices, and tax treatment. - [Hobby Assets as Investments](https://www.getswoopr.com/hobby-assets/): the two-ledger method, five return engines, full cost stack, and a scorecard for evaluating passion-asset economics honestly. - [Commodities & Precious Metals](https://www.getswoopr.com/commodities-precious-metals/): an alternative asset class Swoopr covers separately in depth. - [Real Estate & REITs](https://www.getswoopr.com/real-estate-reits/): another alternative asset class with its own dedicated guide. - [Fixed Income & Bonds](https://www.getswoopr.com/fixed-income-bonds/): public bond-market mechanics as a contrast to private credit. - [Private Credit & Direct Lending](https://www.getswoopr.com/private-credit-direct-lending/): a full guide to BDCs, direct lending, and loan-structure risk. - [Private Market Due Diligence Playbook](https://www.getswoopr.com/alternative-investments/private-market-due-diligence-playbook/): a structured framework for evaluating illiquid, private-market investments before committing capital. - [Portfolio Management](https://www.getswoopr.com/portfolio-management/): how an alternative allocation fits within an overall portfolio. ## FAQ ### What counts as an alternative investment? Alternative investments are assets or structures outside conventional publicly traded stocks, bonds, and cash. The category includes private equity, venture capital, private credit, hedge funds, managed futures, real estate, commodities, royalties, litigation finance, and collectibles. Alternatives are not automatically diversifiers or superior investments; many add illiquidity, opaque valuation, high fees, concentration, and fraud risk that a conventional public security typically does not carry to the same degree. ### Does illiquidity make reported volatility understate real risk? It can. Many alternative investments are priced infrequently by a manager's own estimate rather than by continuous market trading, which can produce a reported return series that looks smoother than the investment's true underlying risk. This smoothing effect can make an illiquid alternative appear less volatile than a comparable public security, when the difference partly reflects how infrequently it is priced rather than a genuine reduction in risk. ### Are collectibles a reliable investment? Not reliably. Collectibles such as art, watches, coins, wine, classic cars, and memorabilia can have large bid-ask spreads, ongoing storage and insurance costs, authenticity risk, and opaque pricing that make consistent valuation difficult. Past auction appreciation for a specific item or category should never be treated as evidence of a dependable expected return, since survivorship in publicized sales and highly individual condition or provenance factors can distort the picture. ### How can individual investors access infrastructure investing? Individual investors can buy listed infrastructure through publicly traded companies or exchange-traded funds that hold utility, transportation, and energy-infrastructure stocks, with the same daily liquidity as any other public security. Unlisted infrastructure funds instead hold direct stakes in specific projects, typically with fund lockups of a decade or more, capital calls, and limited investor eligibility, similar in structure to private equity. ### Is buying a small business considered an alternative investment? Yes, and it is one of the most hands-on forms of alternative investing. Buying and operating a small business or franchise directly makes the investor an active operator rather than a passive capital provider, with no continuous public market price, financing that often requires a personal guarantee, and returns that depend heavily on the operator's own skill and effort rather than a diversified fund's professional management. ### Is a crowdfunding investment regulated the same way as a public stock? No. Crowdfunding offerings are sold under exemptions from full securities registration, so what the issuer must disclose is narrower than what a listed public company must file. Under Regulation Crowdfunding the SEC requires the transaction to run through a registered broker-dealer or funding portal, caps what an individual non-accredited investor may commit across all crowdfunding offerings in a 12-month period, and generally bars resale of the securities for one year. Other offerings hosted on the same platform may instead rely on Regulation A or Regulation D, which carry different eligibility conditions, disclosure obligations, and resale restrictions, so the exemption named in the offering document determines which protections actually apply. ### What is a capital commitment, and how is it different from an investment? A commitment is a promise to provide capital when the fund calls for it, not a transfer of money at the outset. The fund draws down against the commitment over its investment period as it finds deals, so the investor holds an obligation to fund calls on short notice for years. That has two consequences: uncalled commitments have to be kept available rather than invested elsewhere, and failing to meet a call typically carries severe penalties under the fund agreement. ### What is the J-curve in a private fund? The pattern where reported returns are negative in the early years and turn positive later. Fees and organizational costs are charged from the start while investments are held at cost and have not yet appreciated or been realized, so the reported value sits below the capital contributed. As holdings mature and exits occur, the curve rises. The practical implication is that early-year performance figures for a young fund carry very little information about the eventual outcome. ### How is a private fund's reported return calculated? Usually as an internal rate of return, which accounts for the timing of every cash flow, alongside a multiple of invested capital. The two can disagree sharply: an early exit produces a high internal rate on a small multiple, because the measure rewards speed. Internal rates are also sensitive to how unrealized holdings are valued, which the manager estimates. Reading the multiple beside the rate, and noting how much of the value is still unrealized, is what makes the figure interpretable. ## References - [SEC Investor.gov: Investment Products](https://www.investor.gov/introduction-investing/investing-basics/investment-products) - [SEC Investor.gov](https://www.investor.gov/) - [Commodity Futures Trading Commission: Learn and Protect](https://www.cftc.gov/LearnAndProtect/index.htm) - [U.S. Small Business Administration: Buy an Existing Business or Franchise](https://www.sba.gov/business-guide/plan-your-business/buy-existing-business-or-franchise) - [SEC: Regulation Crowdfunding](https://www.sec.gov/resources-small-businesses/exempt-offerings/regulation-crowdfunding) - [SEC: Exempt Offerings](https://www.sec.gov/resources-small-businesses/exempt-offerings) ## Related Reading - [Portfolio Construction & Asset Allocation](https://www.getswoopr.com/portfolio-management/) the natural next step - [Collectibles as an Investment: Costs, Pricing and Tax Treatment](https://www.getswoopr.com/alternative-investments/collectibles/) covered in depth here - [Infrastructure Investing: Listed, Unlisted and What Drives Returns](https://www.getswoopr.com/alternative-investments/infrastructure-investing/) covered in depth here - [Private Equity: Fund Structure, Fees, Returns and Access](https://www.getswoopr.com/alternative-investments/private-equity/) covered in depth here - [Commodities & Precious Metals](https://www.getswoopr.com/commodities-precious-metals/) closely related - [Fixed Income & Bonds](https://www.getswoopr.com/fixed-income-bonds/) closely related - [Private Credit & Direct Lending](https://www.getswoopr.com/private-credit-direct-lending/) closely related - [Venture Capital: Power Laws, Stages and the Access Problem](https://www.getswoopr.com/alternative-investments/venture-capital/) covered in depth here - [Real Estate & REIT Investing](https://www.getswoopr.com/real-estate-reits/) closely related - [Trading Risk Management for Stocks and Crypto](https://www.getswoopr.com/risk-management/) closely related ## More in This Section - [Classic and Collector Car Investing](https://www.getswoopr.com/alternative-investments/classic-and-collector-cars/) - [Collector Cars as an Investment: Returns](https://www.getswoopr.com/alternative-investments/collector-cars/) - [Infrastructure Investing vs REITs](https://www.getswoopr.com/alternative-investments/infrastructure-vs-reits/) - [Interval Funds: Why Periodic Liquidity Changes the Investment](https://www.getswoopr.com/alternative-investments/interval-funds-liquidity-repurchase-risk/) - [Investing in Fine Art](https://www.getswoopr.com/alternative-investments/fine-art/) - [Investing in Fine Wine](https://www.getswoopr.com/alternative-investments/fine-wine/) - [Investing in Fractional Collectibles](https://www.getswoopr.com/alternative-investments/fractional-collectibles/) - [Luxury Watches as an Investment](https://www.getswoopr.com/alternative-investments/watches/) - [Rare Coins and Currency as an Investment](https://www.getswoopr.com/alternative-investments/rare-coins-and-currency/) - [Sports Cards and Memorabilia](https://www.getswoopr.com/alternative-investments/sports-cards-and-memorabilia/) - [Trading Cards as Investment Collectibles](https://www.getswoopr.com/alternative-investments/trading-cards/) - [Types of Alternative Investments](https://www.getswoopr.com/alternative-investments/types/) - [Whisky and Rare Spirits as Investments](https://www.getswoopr.com/alternative-investments/whisky-and-rare-spirits/)