How a Permanent-style portfolio fared in the 2008 financial crisis
Permanent-style — 25% gold · 25% equities · 25% cash · 25% commodities · quarterly rebalance · physical costs on (coins) · window 2007-10-09 to 2013-03-28 · computed 2026-07-06 with the same engine the app runs.
Solid: this portfolio, real (CPI-deflated) value of $10,000. Dashed: the all-equity baseline.
| Total return (real) | +15.6% |
|---|---|
| Total return (nominal) | +28.3% |
| CAGR (real) | +2.7% |
| Max drawdown (real) | −19.9% |
| Recovery | 17.7 months |
| Purchasing-power ratio | 1.16× |
| Ulcer index | 6.4 |
| Worst calendar year | 2008: −10.5% |
| Physical costs paid | $343 |
| Liquidation value | $12,743 |
A $10,000 stake in a Permanent-style portfolio (25% gold · 25% equities · 25% cash · 25% commodities, rebalanced quarterly, physical costs on coins applied) entering the 2008 financial crisis would have ended the window worth $11,558 in real, CPI-deflated terms — a real return of +15.6%. Along the way it fell at most 19.9% from its peak (17.7 months), with an ulcer index of 6.4. The same stake in equities alone returned −9.7% real — this allocation beat it by 25.3 percentage points of purchasing power. Physical ownership — dealer spread, storage, insurance — cost $343 over the window.
Open this portfolio in the stress-tester More scenarios
The link above prefills the allocation — adjust weights, costs, and windows from there. Sources and formulas: methodology.
Educational estimates — not financial advice