Our reader, who wishes to remain anonymous, is 49 and has been investing for 20 years. He wants to achieve steady medium-risk capital growth. He has tried to shift his portfolios towards the Harry Browne Permanent Portfolio structure (25 per cent gold, 25 per cent equities, 25 per cent long bonds, 25 per cent cash) but is finding it hard to justify holding 25 per cent in long bonds and 25 per cent in cash at present when interest rates are at all-time lows.
Harry Browne Permanent Portfolio structure
Reader portfolio: Anon