We investigate the performance of the 'Permanent Portfolio' in the United States and international markets. This simple approach to asset allocation involves investors splitting their portfolio equally between stocks, bonds, gold and cash. The Permanent Portfolio does not consistently generate...

Purpose – This paper aims to examine whether the cross-sectional return patterns in New Zealand’s main stock market (NZSX) are also present in the alternative (NZAX) and over-the-counter (Unlisted) markets. Design/methodology/approach – Cross-sectional regressions of monthly stock returns...