By The Sizemore Letter<\/a><\/p>\n As I wrote<\/a> late last week, we are in the midst of a monetary arms race in which Fed Chairman Ben Bernanke and ECB President Mario Draghi are tripping over themselves to see who can inject more liquidity into the financial markets.\u00a0 \u00a0The result will be a bull run in just about everything: stocks, non-treasury bonds, commodities, real estate.\u00a0 You name it, and it\u2019s probably going to enjoy a nice finish to 2012.<\/p>\n Through gritted teeth, I would even include gold in the list, though not for the reason most gold bugs would expect.\u00a0 No, I do not see gold rising as a viable inflation hedge or crisis hedge; I see it rising precisely because it has become a risk asset like everything else (see \u201cA Bad Investment and Getting Worse<\/a>\u201d for my views on the barbarous relic.\u00a0 The article is old but the arguments are as valid as ever.)<\/p>\n There are still risks, of course.\u00a0 Europe could still come unhinged due to political infighting, and the United States is still staring over a fiscal cliff.\u00a0 China may slow worse than the even the bears expect, and the Middle East could erupt into a full-blown war at any time.<\/p>\n For all of these reasons, investors should stay nimble and be prepared to sell some of their more volatile positions if the need arises.\u00a0 But in the meantime, it makes sense to be invested as aggressively as your blood pressure will allow to take advantage of the most bullish coordinated monetary easing in modern history.<\/p>\n With this said, how should investors position their portfolios for the remainder of 2012?<\/p>\n For moderately aggressive investors, I would recommend an ETF portfolio that looks something like this:<\/p>\n