Life is uncertain and that includes the financial markets. The fact is that when investing in the real world, you need to be prepared for surprises. So why not use an investment approach that takes this into consideration?
A few decades ago, the late Harry Brownea successful financial advisor and authorcreated an ingenious investing strategy that did just this. The "Permanent Portfolio," as it is known, was not designed around predicting the future or outsmarting other investors. Instead, it embraced the idea of the unpredictable, the unknowable, and the surprising. Now, authors Craig Rowland and J. M. Lawson add their own experience and insights to this strategy to help you invest and save in a way that will allow you to safely reach your financial goals.
While the approach may appear simple, it is far from simplistic. It actually reflects a sophisticated understanding of economics and financial history and explores ideas about diversification that you may not have come across before. At the basic level, it's just four investment asset classesstocks, bonds, cash, and gold. This book will show you how to effectively implement the permanent portfolio using such assets and how to avoid investing mistakes that are extremely expensive.
Along the way, you'll discover different implementation options that can fit any situation, and also be exposed to important issues associated with this discipline including storing part of your life savings in a foreign account to protect against natural or manmade disasters. Common pitfalls in the investing world are also covered, from the risk associated with active management and investment industry costs to dangerous biases in what passes for conventional investment wisdom and how to enjoy investing instead of constantly being concerned about it.
You don't need a complicated investment strategy to do well in the markets, you need the right investment strategy. The Permanent Portfolio still remains one of the most effective investment approaches you'll ever encounter. Designed to work under any economic condition, it will put you in a better position to prosper all with less risk, less management, and less costs than more complicated strategies out there.
"The Permanent Portfolio is an easy-to-access how-to manual. . . . This book doesn't just cover the theories behind this method; it also gives details for putting the theories to work in the real world."
From the Foreword by J.D. Roth
No mattter how hard you try, market uncertainty cannot be eliminated. So rather than attempt to do away with it, why not embrace it? That's what the "Permanent Portfolio"developed a few decades ago by the late Harry Browne, a successful financial advisor and authorwas designed to do.
Authors Craig Rowland and J. M. Lawson understand the intricacies of this approach. And with this new book, they not only put them in perspective, but also add their own experience and insights to this proven strategy. Written in a straightforward and accessible style, this reliable guide will put you in a better position to invest and save in a way that will allow you to safely reach your financial goals.
Along the way, it takes you through every step of the process, and reveals how to set up and maintain your permanent portfolio. Topics touched upon include everything from diversification of asset mix and performance to investing and taxes.
If you're looking to build a better portfolio without the stress that usually comes along with this endeavor, then look no further than The Permanent Portfolio.
Overall, the Permanent Portfolio strategy is quite simple.
The authors do an excellent job of explaining their allocation strategy and give very explicit recommendations for implementing it.
This book is well written and has all the information you need to understand and implement this easy and safe portfolio.
The concept of the permanent portfolio -- balancing your investments across four decorrelated asset classes because the future is unpredictable in its details but predictable in... Read morePublished 2 months ago by Bibliophile
Recently I was tasked with helping someone close invest a large sum of money. This was terrifying to me because it was someone else's fortune and they were relying on me for... Read morePublished 4 months ago by allanster
Many academic studies indicate that over time very few people, even the most astute on wall street, can consistently beat the market. Read morePublished 4 months ago by Frank D. Bonerigo
This book proposes a very simple portfolio for very long term investors, almost too simple. It would take nerves of steel and an ultimate conviction this system will work to stay... Read morePublished 4 months ago by S. Johnson
Thsi book gave me a very different view from the main street view of what I should do with my $$$. The author takes research and applies it to practical ways of investing. Read morePublished 4 months ago by Amazon Customer
This forces one to consider economic terrain first and then construct a portfolio. Good for turbulence ahead. Not sexy but utilitarian.Published 6 months ago by C. A. Bengtson
This book provides a wonderful presentation of Harry Browne's investment strategy. It covers all the bases. Harry would be proud!Published 6 months ago by tparker24
This book is a how-to guide to implement Harry Browne's Permanent Portfolio. While I don't follow Browne's strategy to the letter, I did find some great tips that I could apply... Read morePublished 6 months ago by Whizzer283
Conceptually the book has much to recommend it. From my perspective, the approach creates a kind of ecologic system and then asks what large asset classes can survive in those... Read morePublished 7 months ago by George Smiley