Because USD is a depreciating currency, hence earns negative returns, and stocks/bonds are investments which earn positive returns. Portfolios mostly want investment classes, not asset classes, hence why they don't buy Picassos and Lambos.
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Because USD is a depreciating currency, hence earns negative returns, and stocks/bonds are investments which earn positive returns. Portfolios mostly want investment classes, not asset classes, hence why they don't buy Picassos and Lambos.