I don't know if the individual holdings are audited, but mutual funds in the US are very tightly regulated with respect to how they are operated and how the assets are used. Browne was concerned about manager risk with any type of money management, not just the fund. This is the idea that the person...

Welcome to the Permanent Portfolio Mutual Fund (Ticker: PRPFX) discussion forum. This area is to discuss the Permanent Portfolio Mutual Fund.

This is a question I had asked (perhaps not very clearly) in the thread over @ the Bogleheads forum.  I was positing a scenario along the following lines: US government obligations continue to grow at a rapid rate, causing ever increasing deficits US government interference with markets and segment...