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Top Fund Manager - Michael Cuggino, Permanent Portfolio


Michael Cuggino is the portfolio manager and president for Permanent Portfolio fund. With Michael Cuggino Permanent Porfolio manages a family of open-end, no-load mutual funds that specialize in investment strategies that are tax efficient and rely on asset allocation. Cuggino joined this fund in 1991 after the fund had already been in place for 9 years.

 

In addition to his roles at Permanent Porfolio fund, he is also the president and CEO of Pacific Heights Asset Management, the fund's investment advisor. Before joining the fund, he had been employed by other companies in various positions. For instance, he was employed by Ernst and Young, LLP. He has also made a number of appearances on CNN, CBS, CNBC, FOX News, CBS Radio, and many others. He has also been featured in Forbes, Investment News, Investor's Business Daily, and many more.

 

Through Michael Cuggino, Permanent Portfolio succeeds in that he diversifies the portfolio. He typically keeps 35% of the assets in U.S. bonds, 25% in gold and silver, and 15% in energy and real estate stocks. He invests in such stocks as the Texas Pacific Land Trust and Chevron.

 

Michael takes a defensive investment approach, and resulted in the Permanent Portfolio fund being down only 3 years out of its 23 years history. This shows that stock picking does not always outdo asset allocation and diversification of a portfolio. At this time, the portfolio is averaging $260 million in assets. Due to the heavy diversification, Cuggino is able to preserve the fund's purchasing power despite the state of the world economy. This is done by holding a number of non-correlated assets and have a consistent asset allocation strategy.

 

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