Rethinking the Permanent Portfolio

Discussion of the Gold portion of the Permanent Portfolio

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dualstow
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Re: Rethinking the Permanent Portfolio

Post by dualstow » Thu Jun 27, 2019 9:02 pm

Smith,

Greg Ip wrote an interesting piece in the WSJ called ‘The Worthy Idea Behind Facebook’s Libra”

Does anyone have a link to a non-paywall version? Maybe it was syndicated.
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Re: Rethinking the Permanent Portfolio

Post by Smith1776 » Fri Jun 28, 2019 2:09 am

dualstow wrote:
Thu Jun 27, 2019 9:02 pm
Smith,

Greg Ip wrote an interesting piece in the WSJ called ‘The Worthy Idea Behind Facebook’s Libra”

Does anyone have a link to a non-paywall version? Maybe it was syndicated.
I think I found it. Definitely looks like a good read, but I too couldn't find a non-paywall version.
25% KILO.B | 60% VCIP | 15% VVL/VMO/VVO/VLQ | 90 Days of Expenses Bank Cash | 5% of Net Worth Physical Gold & Silver Bullion
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Re: Rethinking the Permanent Portfolio

Post by pugchief » Fri Jun 28, 2019 7:01 am

Smith1776 wrote:
Fri Jun 28, 2019 2:09 am
dualstow wrote:
Thu Jun 27, 2019 9:02 pm
Smith,

Greg Ip wrote an interesting piece in the WSJ called ‘The Worthy Idea Behind Facebook’s Libra”

Does anyone have a link to a non-paywall version? Maybe it was syndicated.
I think I found it. Definitely looks like a good read, but I too couldn't find a non-paywall version.
Relating to the other thread, using DDG to search ‘The Worthy Idea Behind Facebook’s Libra” did not locate anything on WSJ, but on Google it was the first result. WTF?
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dualstow
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Re: Rethinking the Permanent Portfolio

Post by dualstow » Fri Jun 28, 2019 8:16 am

I don’t know, but search again with

Code: Select all

!google
before that quoted headline.
You will not escape google’s tweaking, but you will get the result you want here.

In other words, at duckduckgo, search

Code: Select all

!google “The Worthy Idea Behind Facebook’s Libra”
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Re: Rethinking the Permanent Portfolio

Post by InsuranceGuy » Fri Jun 28, 2019 10:17 am

dualstow wrote:
Fri Jun 28, 2019 8:16 am
In other words, at duckduckgo, search

Code: Select all

!google “The Worthy Idea Behind Facebook’s Libra”
Doing this completely bypasses any privacy of DDG. Because your search is actually taking place on that other site, you are subject to that site’s policies, including its data collection practices.

You might as well go to google.com, bend over, and search “The Worthy Idea Behind Facebook’s Libra” as that is what is happening through DDG.

Please consider startpage.com for google searches as it will protect your privacy from the google machine. Note I have no vested interest in startpage or DDG, just a privacy advocate.
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Re: Rethinking the Permanent Portfolio

Post by pugchief » Fri Jun 28, 2019 1:18 pm

InsuranceGuy wrote:
Fri Jun 28, 2019 10:17 am
dualstow wrote:
Fri Jun 28, 2019 8:16 am
In other words, at duckduckgo, search

Code: Select all

!google “The Worthy Idea Behind Facebook’s Libra”
Doing this completely bypasses any privacy of DDG. Because your search is actually taking place on that other site, you are subject to that site’s policies, including its data collection practices.

You might as well go to google.com, bend over, and search “The Worthy Idea Behind Facebook’s Libra” as that is what is happening through DDG.

Please consider startpage.com for google searches as it will protect your privacy from the google machine. Note I have no vested interest in startpage or DDG, just a privacy advocate.
I would like a search engine with Google's quality but without Google's left-wing filters. Apparently, none exists. I will try Startpage next. Thanks
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dualstow
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Re: Rethinking the Permanent Portfolio

Post by dualstow » Fri Jun 28, 2019 3:06 pm

InsuranceGuy wrote:
Fri Jun 28, 2019 10:17 am
dualstow wrote:
Fri Jun 28, 2019 8:16 am
In other words, at duckduckgo, search

Code: Select all

!google “The Worthy Idea Behind Facebook’s Libra”
Doing this completely bypasses any privacy of DDG. Because your search is actually taking place on that other site, you are subject to that site’s policies, including its data collection practices.

You might as well go to google.com, bend over, and search “The Worthy Idea Behind Facebook’s Libra” as that is what is happening through DDG.
You’re right. I’ve been wasting my time!
https://medium.com/digiprivacy/why-does ... 75a98d382d

Always assumed there was a little layer of protection there. The !google is pointless, then.
Can I steam my face mask occasionally instead of washing it?
Ans.: Not really. Only steam things for which washing is not an option.
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Re: Rethinking the Permanent Portfolio

Post by technovelist » Fri Jun 28, 2019 10:03 pm

Harry didn't even approve of the use of "paper gold" like commodity futures as a substitute for actual gold.
So I'm pretty sure I know what he would have said about Bitcoin.
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Re: Rethinking the Permanent Portfolio

Post by Smith1776 » Fri Jun 28, 2019 11:40 pm

What's funny about Bitcoin is that as an asset its economic substance is becoming more and more like gold. Even more so than the community even suspected I think.

We PPers think of gold as an alt cash. However, it's really a reserve asset, in that we don't use gold to buy a cup of coffee. It's just too cumbersome. We use our domestic fiat currencies to do that.

Bitcoin, it seems, is inheriting this quality.

Bitcoin's onerous transaction confirmation times, transaction costs, limited block size, and volatility make it unsuitable as real cash. Many of these limitations are due to legacy baggage that can't be changed. As such, even the Bitcoin diehards are resorting to using the cryptocurrency purely for large transactions, or as a long term store for their wealth. Not the proverbial cup of coffee. That isn't unlike gold.
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Re: Rethinking the Permanent Portfolio

Post by dualstow » Sat Jun 29, 2019 7:41 am

I see what you mean, but of course the old differences are still glaring. Until kriegs’ asteroid comes in, gold will always have value because it’s beautiful.

Blockchain is fascinating, but when I heard MIT students were hoarding bitcoin and that the price was getting swingy, I thought, I’m going to stay away.
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Re: Rethinking the Permanent Portfolio

Post by pmward » Sat Jun 29, 2019 8:45 am

I must admit the sheer volatility of Bitcoin the last couple of years really has me thinking about placing 5% in my VP to Bitcoin on the next pull back. With the volatility, 5% can do quite a bit, especially with rebalancing (probably rebalance back to 5% 2x per year since its cycles are so much faster than the other assets). I'm not going to buy it now though, as the chart looks like a clone of late 2017 right before the meltdown. It even started the parabolic rally from almost the same exact level. But when we get the next pullback I just might pull the trigger. I just wish Fidelity would allow crypto trading to retail investors already, it's a hassle to have to open another account specifically for crypto.
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Re: Rethinking the Permanent Portfolio

Post by Ad Orientem » Sat Jun 29, 2019 12:02 pm

Late to this discussion and I haven't read all the comments so apologies if my comment has already been made.

Cryptos are a new and largely untested type of asset with no real history to them. In this sense I don't think they have a place in any PP much less the HBPP. They are at best a speculative investment. It's hard to see them gaining acceptance of the kind we accord to stocks, cash, bonds and gold anytime in what remains of my life. Looking at them on a solely speculative basis, I am not impressed. They strike me as incredibly high risk with all kinds of variables, including potential government regulation, or worse, the continued near complete absence of regulation. And lastly it strikes me as something perilously close to a scam. A sort of tech fantasy turned racket. In the 1970's someone made a fortune marketing "pet rocks." But the big difference was that if you sent in your order with a check, you actually did get a rock mailed back to you. What am I getting here that is real or tangible?
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