Why I'm Sitting Down With Tuttle, Stansberry, and a Practicing Advisor on July 8
Forty years ago, Harry Browne wrote that an investor should not need to predict the next economic regime in order to survive it. He built the permanent portfolio on that idea. Equal sleeves of stocks, bonds, gold, and cash, rebalanced annually, and the allocation did not care what the Fed was doing or which way the dollar was moving.
The framework still matters. The implementation, in my view, needs serious thought.
Stocks-and-bonds-when-they-decorrelate is no longer the diversification trade it was in the 1980s. Long-duration Treasuries break in inflationary regimes Browne’s original framing did not have to contend with. Gold trades like a risk asset half the time, depending on dollar dynamics. Cash earns real yield until it doesn’t, and the duration of cash regimes has gotten harder to forecast.
On Wednesday, July 8, at 1:00 PM ET, I am sitting down with Matt Tuttle (CEO, Tuttle Capital Management), Porter Stansberry (Founder, Porter & Company), and Frances Newton (CIO, Tuttle Wealth Partners) for a 60-minute educational discussion of what a thoughtful update to the permanent portfolio framework looks like at the conceptual level.
This is not a product conversation. It is a framework conversation.
The questions we will work through:
Where does Browne’s original thesis still hold?
The core insight, that you should not have to forecast the next regime to survive it, is more durable than any specific four-bucket weighting. We will spend time on why that insight matters more in 2026 than it did in 1986.
Where does the original implementation break?
Equal-weight stocks and bonds in a world where they correlate. Long-duration Treasuries in inflationary regimes. Gold sized as a uniform 25% when its behavior varies by dollar regime. These are real implementation gaps, and they are worth discussing as conceptual problems rather than product problems.
What does forecast-independent allocation look like today?
Quality screens on equity exposure. Separating duration risk from yield exposure on the fixed income side. Hard asset exposure sized to the role it actually plays. The mechanics matter, and we will walk through them at the level of framework, not vehicle.
What does this mean for advisors?
The practical conversations to have with clients who are tired of forecast-based portfolios. How to talk about regime-independent thinking without overselling certainty. The honest trade-offs.
CE credit has been approved for the session.
Live Q and A at the end.
The call is on Zoom, registration is required, and the recording goes to registered attendees only.
Register: https://us06web.zoom.us/webinar/register/WN_Z5gQ25OLRAqkCmsHxb5VSw
Wednesday, July 8. 1:00 PM ET. See you there.