Larry Swedroe has a new blog that explains that passive investing wins out over market timing. I think that this is useful when considering that the Permanent Portfolio is a type of passive investing.
http://www.cbsnews.com/8301-505123_162- ... instincts/
From the blog:
"The bottom line is that whether you believe that markets are efficient or that they make persistent pricing errors, the evidence strongly suggests that the strategy most likely to help you achieve your financial goal is a passive one. That means having a well-developed plan, including an asset allocation table, and a plan of rebalancing your portfolio as required."
Passive Investing Wins Out
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