The Permanent Portfolio is different, 25% each stocks/LTT/cash/gold
Land or home or REIT, stocks, gold ... thirds each is the Talmud style, my personal preferred choice.
Consider 'stocks' as a simplified form of buying a farm and working the land - that yield dividends. Own a home and you don't have to find/pay rent to others, has imputed rent benefit. REIT are similar, but where someone else manages buying and renting. Gold is more like just buying land and leaving it idle. Three fields if you like, two being sown/harvested, another being left fallow to enrich the soil (perhaps where you bury your gold, but then rotate the fields yearly - move the gold into the next field).
Stocks and REIT are similar in many ways, somewhat move aligned, but differ. Different crops in different fields, both generally productive. A farmer with a constant fallow field loses less in a bad harvest year - tends to recover quicker from over-worked (extended) poor soil situations, rises less in good/great harvest years.
Definition of a farmer - a man outstanding in his own field :)
The farmer that pushes hard each/every year, over-working all his fields, maybe concentrating into a single crop (stocks) will at times pull ahead, but then slam into one or more seasons of regret, bad harvests. The one field fallow rotation farmer is more inclined to see more steady/consistent harvests. Broadly perhaps similar overall total returns, but where when the rewards are the same/similar the one with the more consistent productivity (lower standard deviation/variance) is generally considered to be the better risk-adjusted reward.
If you own your own home, don't have to find/pay rent for shelter, and additionally have around twice that home value again split equally between stocks and gold, then you're diversified across multiples currencies, both fiat and non-fiat, and multiple sources of income, imputed rent, dividends, SWR (withdrawals), and have two thirds of your wealth in-hand, no counter-party risks (land and gold).
Rebalancing wise and 'spending' the imputed rent, and spending the stock dividends, and drawing some from either stocks or gold - whichever is the higher value of the two at the time ... can be enough, partial rebalancing via directed withdrawals. That can extend out 10 or even 20+ years without too much 'drift' in the asset weightings. If/when a big drift is apparent however then especially if either due to stocks or gold having risen a lot then again partial rebalancing (ignoring your home value unless a move of home is considered reasonable/appropriate) - resetting stocks and gold to 50/50 weights is a appropriate choice/action. If say gold was twice the stocks value or vice-versa.
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