If you listen carefully and have an open mind, O’leary drops a few helpful gems that could help to counter your losses if a recession does hit. A recession is something that Elon Musk recently called "inevitable". It’s also important to keep in mind that O'Leary is a Billionaire, so his funds are a bit more expendable when it comes to investing and collecting.

The alt-investment O'Leary mentioned falls into collectibles, which is a broader alternative asset class that can be tracked with the Total Collectibles index (^CLCTBLS.REGA), but was speaking specifically about watches. If you’re a fan of the show Shark Tank, with Mark Cuban, you know all about the affinity for ticking timepieces. He discusses on Impaulsive the 1 of 1 piece he had made for himself and various other pieces he likes. However, he speaks with absolute joy when speaking about one maker in particular.

Wine, historically, performs well and is relatively resistant to a recession or inflation. While it’s unlikely you’ll be able to buy, start and fund your own winery like Mr. Wonderful, there are several other ways to invest in the industry whose most popular index is up 10.3% YTD. You can choose to invest via ETFs that include wine in their portfolio, or you could take a more direct approach, and buy shares of a valuable wine collection through an investment platform like Vint.

If you want to be the best, model the best. If you want to succeed, copy those who succeed. Mr. Wonderful is clearly one to copy and model your own portfolio after. If you’d like to diversify your own portfolio; research your own collectibles, consider wine and look into O’Leary’s ETF, ALPS O'Shares U.S. Quality Dividend ETF (BATS:OUSA), which consists of large-cap US stocks based on four factors: high quality, low volatility, high dividend yield and dividend quality.