Gold and the Permanent Portfolio in Australia
This agnostic approach is best demonstrated by Davin’s answer to the question of why the gold price has not responded to the recent US government debt ceiling drama: “We don’t know but we don’t really care. It is only ever the fast money that rotates into or out of an asset in anticipation of others doing the same. … In an environment where there is a loss of confidence in the US dollar and US bonds owning a hard asset that is liquid will protect the wealth of our unit holders, even when taking potential Australian dollar appreciation into account. Within the Cor Capital Fund this is of course not a ‘bet’ we are making but just a risk we are covering.”
Cor Strategy | Australia Equities | Australian Cash | |
Annual Average Return | 10.5% | 10.6% | 9.1% |
Std. Dev. of Annual Returns | 8.9% | 23.9% | 4.5% |
Value of $1 invested in 1970 | $62.12 | $66.20 | $37.27 |
Source: http://goldchat.blogspot.com/2013/10/gold-and-permanent-portfolio-in.html
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