Hi dopplerdave,

That’s because the site is actually www.testfol.io. Sorry for the inconvenience — I’ve corrected it above.

I’ve no doubt Browne was a smart guy—the Permanent Portfolio is still incredibly elegant because it's so simple. And yeah, Browne was pretty clear about holding all four assets at all times. His whole point was that since nobody can foresee the future, you need all four assets to stay protected agai...

I have to admit that I have a certain bias toward energy stocks, given my background in the industry. That said, I also believe that XLE might only have been a sensible addition in hindsight. Fossil fuels are steadily losing relevance, and the balance is increasingly shifting toward electricity - dr...

Barbestand klingt nach... Accouting?

Interesting Update, thanks a lot!

Hi everyone, Over the holidays, I came across a short book by Charles Gave, a french economist, that is available online for free: The General Theory of Portfolio Construction (https://web.gavekal.com/books/the-general-theory-of-portfolio-construction/). I thought it might be of interest to some of ...

Out of curiosity: what was the rationale for switching from buying all asset to increasing the cash portion until the rebalancing band is triggered?

Hi Hal, interesting – personally, I'm a big fan of the KISS principle! I'm convinced that the biggest threat to returns is one's own behavior during difficult market phases. In my view, the main weakness of the Permanent Portfolio is the discipline of the investor to rebalance into underperforming a...

@dualstow: Thanks for the bump, much appreciated! I already checked out the mentioned thread. Very interesting and great to see that I'm not the first non-US investor with a Permanent Portfolio (PP) in this forum! @whatchamacallit: Yes, up to €100k in cash per bank is covered by the state deposit gu...

Hi everyone, I'm new to this forum but have been a long-time admirer of the PP. I've read Craig Rowlands book and find the PP's core idea incredibly elegant. I'm fascinated by the portfolio's simplicity and how the individual asset classes interact. I'm based in Germany and have had a good portion (...