# Productive Asset
Productive assets are [assets](assets.md) which have [income-cashflows](income-cashflows.md) attached to them. Examples include stocks, real estate, and bonds.

[Commodities](commodity.md) are non-productive assets.

[Art](art.md) is a non-productive asset.

[Crypto tokens](cryptoasset.md) are non-productive assets.

## References
1. Grinold, Richard C., and Ronald N. Kahn. Active portfolio management: Quantitative theory and applications. Probus, 1995.
1. Hanley, Brian P. 2018. ‘The False Premises and Promises of Bitcoin’. ArXiv:1312.2048 [Cs, q-Fin], July. http://arxiv.org/abs/1312.2048.
1. Wilmott, Paul. Paul Wilmott introduces quantitative finance. John Wiley & Sons, 2007.
1. Taleb, Nassim Nicholas. 2021. ‘Bitcoin, Currencies, and Fragility’. ArXiv:2106.14204 [Physics, q-Fin], July. http://arxiv.org/abs/2106.14204.
1. ‘Why Bitcoin Is Worse than a Madoff-Style Ponzi Scheme | Financial Times’. n.d. Accessed 20 March 2022. https://www.ft.com/content/83a14261-598d-4601-87fc-5dde528b33d0.