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Wealth protection isn't just nominal value of capital. True wealth protection protects investors from effects of inflation and decline from purchasing power of capital.
The long term performance of equity asset class over 38 years shows it has consistently beaten inflation.
When investing in equities, one is investing in earnings growth of companies. So wealth gets created as well as protected by beating inflation.
Equity as an asset class is good for wealth protection but find a suitable category that best suits your needs.
Excellent idea. I really liked the idea of protecting "Purchasing "Power" rather than focusing on Wealth protection