*I'm sorry but again sometimes loud distortions so put sound soft when using earplugs. Summary: A passive portfolio needs to have returns above real inflation (7% per year!) and in a reliable way so that you can take money out every few years, and not sit on major losses sometimes where you have to sit it out for a decade. The only portfolio able to do this to my knowledge is this 75% global stocks / 25% physical gold portfolio. Once you bring in bonds such as the traditional Permanent Portfolio and typical 'Diversified Portfolio' does, you do have less yearly volatility but are unable to beat real inflation. I show here the returns since 1928 up until today. Enjoy :) Links: Previous video about the sheet: Historical Returns Since 1928 - Stocks, Gold, Inflation & Permanent Portfolio: https://www.youtube.com/watch?v=QbkDEhFzG8o Sheet: https://docs.google.com/spreadsheets/d/e/2PACX-1vSToqZQThdLCOgRJjRNavcg0qLUNqZXt28HDye-g15g6qk4U1kO289PEUClEFgC2d-M-J51wJFqCI9-/pubhtml Sheet PDF: https://docs.google.com/spreadsheets/d/e/2PACX-1vSToqZQThdLCOgRJjRNavcg0qLUNqZXt28HDye-g15g6qk4U1kO289PEUClEFgC2d-M-J51wJFqCI9-/pub?output=pdf Real Inflation = 5% - Historical Prices Of New Home, New Car, Oil, Bacon, Chocolate, Soup, ... : https://www.youtube.com/watch?v=FIO06yLUiYI&t Great critique from Christian Kuhl: Note that the MSCI World Index represents 23 developed markets and no emerging markets. The MSCI ACWI (all country world index) adds 24 emerging markets to the MSCI World Index and is therefore broader and recommended.