Gold is money

[Clive]

?

[Lone Wolf]

If you substitute stocks for oil, then - as slide 63 indicates - a somewhat similar effect is evident over time. So you might opt to hold 50% in gold, 50% in stocks.  Rather than investing in those two assets alone however the volatility can potentially be further reduced by splitting that 50-50 with some cash, and invest the cash in mid duration treasuries (ST/LT barbell or perhaps a 5 year ladder) and you have derived the PP approach.

What an interesting bit of reverse engineering.  Great stuff as usual, Clive.  Thanks.

[LNGTERMER]

Well done Clive I second Lone Wolf. I am always impressed with your analytical skills and adherence to the scientific method to back up your investigatory research and ideas.