The Gold Bug Pejorative

In 2008, I thought the world was ending.

Lehman Brothers had collapsed.

I lost my job...markets were in free fall.

For a year, I had quietly been buying gold for my family.

Then one morning I heard Beck Quick interview a famous portfolio manager laughing on CNBC about people paying $700 an ounce for gold!!!

I felt foolish.

Still, I tried to “educate” friends and family about gold and silver.

Most laughed at me...

Precious metals then entered a long bear market...it was brutal...

I was the “Gold Bug” and it was not a compliment!

A pejorative label that has stuck with me—even on investment committees I serve today.

But here’s the thing: I’m fine with it...

During that season of doubt... I discovered Harry Browne.

A visionary who thought differently about both life and investing.

He designed the Permanent Portfolio—a strategy built to survive any market environment, using:

Stocks

Bonds

Gold

Cash

The goal?

Resilience...not speculation.

Browne believed that real wealth wasn’t about luxury. It was about freedom.

That philosophy resonated deeply...and it still does.

5 Lessons Harry Browne taught me:

👉 Question conventional wisdom. Popular ≠ correct.

👉 Diversify for resilience. Survive first, then thrive.

👉 Own gold. Timeless protection in uncertain times.

👉 Pursue freedom. Financial independence → life independence.

👉 Challenge the system. Progress comes from questioning, not conforming.

Today, when someone calls me a “Gold Bug,” I smile.

Because sometimes the best opportunities lie in thinking differently.

In a market like this… that lesson still applies.

--> Question: How are you thinking differently from the crowd today?