Marc Faber Portfolio
Stocks, bonds, gold and property in equal parts.
Holding now
Signal from Dec 2025 close- VTI25%
- BND25%
- GLD25%
- VNQ25%
- VTIUS Total Market25.0%
- BNDUS Aggregate Bonds25.0%
- GLDGold25.0%
- VNQUS REITs25.0%
Trailing returns
Through Sep 25, 2026 · 3Y+ annualised1M
-2.5%
YTD
+4.3%
1Y
+8.2%
3Y
+17.8%
5Y
+8.9%
10Y
+8.7%
Growth of $100
Backtest from Dec 1, 2004 to Sep 25, 2026 (21.7 years)
Growth of $100, rebased to the start of the selected range. Month-end prices, dividends reinvested, no taxes or trading costs.
Risk & return, full backtest
CAGR
+8.7%
Volatility
11.8%
Max drawdown
-33.0%
Sharpe
0.63
Sortino
0.89
Calmar
0.26
Best year
+22.7%
Worst year
-15.6%
Drawdowns
Percent below the prior peak, vs the S&P 500
Calendar-year returns
Faded bars are partial years · 64% of months positive
Strategy Lab
Stress-test the implementation: trade on the signal day's close or later, split the portfolio into tranches that rebalance on different days (reduces timing luck), or swap a fund for a same-asset-class alternative.
The idea
The Gloom, Boom & Doom editor's long-standing suggestion. Large gold and REIT sleeves make it behave very differently from a 60/40.
The rules
- 125% each: US stocks, aggregate bonds, gold, REITs.
- 2Rebalance annually.
Funds used
- BND US Aggregate Bonds
- GLD Gold
- VNQ US REITs
- VTI US Total Market
Early history uses proxy funds: AGG, SHY.
Recent allocations
Decided at each month-end, held the following month
- Dec 2025
- Dec 2024
- Dec 2023
- Dec 2022
- Dec 2021
- Dec 2020
- Dec 2019
- Dec 2018
- Dec 2017
- Dec 2016
- Dec 2015
- Dec 2014