I had read several of Harry Browne’s books in the past. I am a huge fan so I recently acquired almost all of them on ebay. Many of the early books follow a similar structure beginning with an outlook for the general economy, explaining how various parts of the financial system works and predictions of what might happen. The second half always gets into the way to build a portfolio to position for the economic environment outlined. What is most amazing is how so many of the conditions Browne warned about in the 1970’s and 1980’s are still concerns today. It feels as if his books written 40 years ago still have timeless advice.
I will not discuss the Permanent Portfolio base strategy at length as there are many resources on the web that have done this already. I will simply say it is comprised of Stocks, Long Term Treasury Bonds, Gold, and Cash with 25% in each.Continue reading “Harry Browne’s Wisdom From The Early Books”