An alternative investment is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals,[1] art,[2] wine, antiques, coins, or stamps[3] and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits,[4] venture capital, film production,[5] financial derivatives, and cryptocurrencies. Investments in real estate, forestry and shipping are also often termed "alternative" despite the ancient use of such real assets to enhance and preserve wealth.[6] In the last century, fancy color diamonds have emerged as an alternative investment class as well.[7] Alternative investments are to be contrasted with traditional investments.