How a Permanent-style portfolio fared in the 2022 inflation and rate shock
Permanent-style: 25% gold · 25% equities · 25% cash · 25% commodities · quarterly rebalance · physical costs on (coins) · window 2022-01-03 to 2024-01-19 · computed 2026-07-13 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) | −4.0% |
|---|---|
| Total return (nominal) | +5.2% |
| CAGR (real) | −2.0% |
| Max drawdown (real) | −12.0% |
| Recovery | not recovered in window |
| Purchasing-power ratio | 0.96× |
| Ulcer index | 6.4 |
| Worst calendar year | 2022: −3.4% |
| Physical costs paid | $209 |
| Liquidation value | $10,447 |
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 2022 inflation and rate shock would have ended the window worth $9,602 in real, CPI-deflated terms: a real return of −4.0%. Along the way it fell at most 12.0% from its peak (not recovered in window), with an ulcer index of 6.4. The same stake in equities alone returned −7.9% real. This allocation beat it by 4.0 percentage points of purchasing power. Physical ownership (dealer spread, storage, insurance) cost $209 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