By Clyde Noel

If your stock portfolio doesn’t provide you with the safety you desire, there are other conventional investments that might allow you to sleep better at night. However, there is no investment that doesn’t carry a risk.

Here are some suggestions to consider, but first let’s take those declining stocks.

Stocks represent equity ownership in a publicly traded company. For years they provided a positive return and performed better than bonds.

The shortcoming is that during certain times stocks can be disastrous. The last couple of years on Wall Street have been ugly for investors. To put things in perspective, consider this: In 1929, the Dow was 381. In 1939, it was still 381.

Bonds represent a loan by the investor to a corporation. They can provide a steady income and in the past year have outperformed stocks.

The shortcoming is that they are rate-sensitive. Inflation can wipe out the value of the fixed income they pay. As inflation increases, newly issued bonds have to pay a higher interest rate to attract investors, and that drives down the bonds with lower rates.

Real estate is a nice place to sit out a long drawn out economic downturn. It provides a shelter for income and over time can provide a profit.

The shortcoming is that property is illiquid, and selling real estate can take a long time. Taxes must be paid, and appreciation barely keeps up with inflation. Commissions can eat up any profit if the property is held only a short time.

Gold is the traditional hedge against inflation and a safe haven in times of uncertainty. Gold has developed much interest lately because the dollar has lost value compared to the yen and the euro.

The shortcoming is you can’t cash it in at the grocery store and it can be volatile in price. It’s still 25 percent below its 1996 high.

Cash is great because it’s accepted anywhere. Put it in your mattress, and when you need it it’s still there.

The shortcoming is that purchasing power is constantly undermined by inflation. Changes in sentiment can make cash lose value against other currencies and further erode its buying power. It can also be lost on a buying whim.

Commodities are corn, cattle, coffee, hogs, orange juice and anything purchased as an investment. If prices rise they can be enjoyable.

The shortcoming is that most commodity prices have been declining for two decades. Borrowing money to put in precious metals and energy has wiped out many investors.

Collectibles such as Impressionist art seem to hold their value and look beautiful. The same applies to coins and stamps.

The shortcoming is that art is illiquid. The recent price-fixing scandal at Sotheby’s auction house demonstrates another downside: fraud. Coins and stamps may lose their mint value. Hard to believe? Take them to a dealer and ask what they will give for them.

CDs are nice sitting in the bank and waiting for you to get them back when the time expires.

The shortcoming is that they pay only 1 percent to 2 percent and if you want more yield you have to tie up your money for a long time.