permanent portfolio

A portfolio that is designed using a model conceptualized by investor Harry Browne in the 1980s. Browne's goal was to create a portfolio that would perform well in any economic situation. The original (theoretical) permanent portfolio involved an equal allocation of assets in four basic investment categories: precious metals, stocks such as S&P 500 index funds, U.S. Treasury bonds, and money market funds. Some variations of this type of portfolio are still used today with varying degrees of success.