Why The Best-Laid Investment Plans Usually Go Wrong
You might think an investment guide written in 1987 couldn't be relevant to the current scene. Not so. The first 200 pages examines and demolishes all the usual investment strategies/sales pitches because these usually result in loss. Then Browne introduces the idea of a "permanent portfolio," a mixture of very low overhead investments whose inevitable ups and downs balance each other resulting in moderate profit with great stability.