Security Analysis
The Security Analysis Podcast
Craig Rowland: The Permanent Portfolio

Craig Rowland: The Permanent Portfolio

Craig Rowland is the co-author of the most comprehensive book on the Permanent Portfolio. It was written in 2012 and is called “The Permanent Portfolio: Harry Browne’s Long Term Investment Strategy”

He is a software entrepreneur who sold a company to Cisco Systems, worked for the Pentagon’s Chief of Naval Operations, and he is the founder of Sandfly Security, an agentless Linus security solution.

The Permanent Portfolio is a low-volatility investment approach that was developed by Harry Browne. The genius is in its simplicity – the portfolio is 25% Stocks, 25% Gold, 25% Long Term Treasuries, and 25% Cash.

The portfolio is ideal to limit drawdowns. In 2008, for instance, the stock market declined by 37% and this portfolio was down only 2%. During the COVID crash, this portfolio was down 2% while the stock market was down by 20%.


  1. The Permanent Portfolio: Harry Browne's Long-Term Investment Strategy.

  2. Analysis of the Permanent Portfolio from Portfolio Charts:

  3. Craig’s Twitter feed:


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Security Analysis
The Security Analysis Podcast
This podcast explores investment strategies, economics, personal finance, and stock analysis. It features real conversations and analysis to inform, educate, and entertain. Note that nothing in this podcast is investment advice and it is for entertainment & discussion purposes only. Do your own due diligence before making any investment.