Balancing Assets for Lower Risks

Michael Cuggino's Permanent Portfolio fund invests across a broad range, from gold and Swiss francs to T-bills and growth stocks

With the numerous uncertainties in today's investing world, it pays to be defensive. Michael Cuggino, president and portfolio manager of the Permanent Portfolio Funds (PRPFX ), has a formula for just that: a fund invested in a variety of asset classes such as gold, Swiss francs, U.S. Treasury bills, and growth stocks -- designed so that if one type of investment is declining, another is rising to offset it, in hopes that the fund as a whole will increase in value.

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