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After my recent layoff from a 34 year career, I decided to take the advice in Alex Green's Gone Fishin Portfolio (GFP)bestseller. I now have a portfolio over at Vanguard with the asset allocation mentioned in the book. I have held this for about 3 weeks now and so far I am up 7.4%. It's a good start (however it doesn't really mean anything). The real idea of this approach is to "set it and forget it" (sorta like the Ron Popeil philosophy of cooking) and only revisit your portfolio once yearly to rebalance. I am hopeful the next 10 years will be as fruitful as the last 10 years for this GFP. You can find me working (and fishin) in Yellowstone National Park beginning in May, and I will not be fretting about my stocks and bonds.
As of today, my equities heavy Gone Fishin Portfolio is now up 25% since I created it. It is still looking quite good, and I still think folks should read this book (whether they do their own portfolio or not).