07/1 Permanent Portfolio Update

The portfolio returned -6.64% in June. This compares somewhat favorably with most equity indexes. It trailed a simple global 60/40 mix, however.

Summary report with comparison statistics is available here.

Current exposures:

Not much to add by way of additional commentary for June. The gold weight has run down a bit but not quite to the level where I think it warrants a rebalance.

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