Equity investors got to gloat over the good run in equities in the first half of 2013 while those invested in gold panicked. In Aug 13, there was a slight change in fortune as we see equities corrected all over the world. As usual, the media associated the tapering of QE and the pending attack on Syria as the causes for the correction. Currencies like Indian Rupees, Indonesian Rupiah, Malaysian Ringgit and Aussie Dollar weakened. On the contrary, USD strengthened and Gold prices recovered. Singapore Permanent Portfolio performed well in the above scenario. Not in terms of returns, but the volatile market condition has not affected the volatility of the Singapore Permanent Portfolio. While the equity market declined 10%, our flagship Singapore Permanent Portfolio only dropped 0.6% from Jul 13. Permanent Portfolio investors would have been sleeping very well. See the chart below. STI ETF has pared the gains ......