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Re: An alternative to alternative investments [QSPIX]

Some observations... 1: Very few people have the assets to commit $5m to an alternative fund. 2: So if people are to access this fund, they need an advisor. 3: Its great news that there are advisors on this board who offer ARQ funds!!!!! Yay! 4: 1.5% ER + ~0.5% Advisor Fee + ~0.5% transaction &...
by Ketawa
Sun Nov 23, 2014 8:06 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: Using Bond Funds for market pullbacks

I am not sure I am following you on this, the pullback would be 15% from wherever the market was before. If the market went up 20% in 2015 and then promptly dropped down 15%, then yes the strategy would be to buy after the 15% pullback. The example highlights this: you are currently comfortable wit...
by Ketawa
Sat Nov 22, 2014 1:35 pm
 
Forum: Investing - Theory, News & General
Topic: Using Bond Funds for market pullbacks
Replies: 19
Views: 806

Re: 25yo Military New Investor

I disagree. Currently between the G and F fund portions of the L2050, there's roughly 14% and growing. Additionally the I fund makes up 25% of the fund. I fund has 66.8% holdings in Europe which is struggling right now and is the only fund currently in the red. Despite lower volatility, L funds con...
by Ketawa
Sat Nov 22, 2014 1:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: 25yo Military New Investor
Replies: 34
Views: 2846

Re: Can someone explain these emerging market funds

The daily price changes given for ETFs is subject to the vagaries of closing prices. The closing price is calculated at the midpoint between the last bid and ask. It might not reflect the actual value of the ETF. Vanguard's web site says that NAV for VWO was up 1.79% today. VEIEX (same fund, Investo...
by Ketawa
Fri Nov 21, 2014 7:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can someone explain these emerging market funds
Replies: 4
Views: 416

Re: Tracking Error Aversion

I have seen two different definitions of tracking error, not just the one you mention. 1. The difference in performance between your assets and a common benchmark, not the index to which your assets should be benchmarked. This can be an issue for international stocks, REITs, value stocks, small caps...
by Ketawa
Fri Nov 21, 2014 6:49 pm
 
Forum: Investing - Theory, News & General
Topic: Tracking Error Aversion
Replies: 3
Views: 404

Re: Does investing in a 401k actually save any money?

SpecialK22 wrote:This investor also receives a significant tax break up front by putting money in the 401k. I believe you forgot to add this in.


+1. OP missed that someone investing $100k in a Traditional 401k would only be able to invest $67k in taxable if facing a 33% marginal tax rate.
by Ketawa
Fri Nov 21, 2014 2:12 pm
 
Forum: Investing - Theory, News & General
Topic: Does investing in a 401k actually save any money?
Replies: 47
Views: 3632

Re: GAO Concerned your IRA may be too big!

Now, I checked the dubious claim that: Large individual and employer contributions sustained over decades and rolled over from an employer plan would be necessary to accumulate an IRA balance of more than $5 million. The contribution limit for T-IRA was $1500/yr from 1750-1980, $2000/yr from 1981-2...
by Ketawa
Fri Nov 21, 2014 2:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: GAO Concerned your IRA may be too big!
Replies: 25
Views: 2758

Re: Why finance research is often wrong - the jelly bean pro

Ignatious P. Daily wrote:[personal attack removed by admin alex]


In virtually every thread that delves into momentum funds, someone mentions that AQR momentum funds are available to individual investors at TD Ameritrade and/or Fidelity without an advisor. But I guess you missed those threads.
by Ketawa
Thu Nov 20, 2014 2:10 pm
 
Forum: Investing - Theory, News & General
Topic: Why finance research is often wrong - the jelly bean problem
Replies: 58
Views: 5126

Re: An alternative to alternative investments [QSPIX]

Hmm, the waiver of fees down to 1.5% is only found in the small print in the prospectus at the fidelity site, as opposed to being listed on the main info page. Looks like they would feature it a little more prominently. The waiver expires in April 2015. Does management usually continue these fee wa...
by Ketawa
Thu Nov 20, 2014 2:03 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: How To Invest Your Emergency Fund?

I keep most of my emergency fund in Mango, Union Plus, and Santander checking accounts. By jumping through some hoops to set up and automate the process, you can make 5%+ FDIC insured on up to about $12k. A couple can raise that to $24k. They are as liquid as the amount of time it takes to ACH pull....
by Ketawa
Thu Nov 20, 2014 11:53 am
 
Forum: Investing - Help with Personal Investments
Topic: How To Invest Your Emergency Fund?
Replies: 59
Views: 7614

Re: An alternative to alternative investments [QSPIX]

This thread is quickly becoming silly. Let's make it sillier! Exactly,let see how this investment fit into those. 1 Develop a workable plan - Nope Holding an allocation to a fund isn't a workable plan? 2 Invest early and often - Yes Concur. 3 Never bear too much or too little risk - Maybe, too compl...
by Ketawa
Thu Nov 20, 2014 11:35 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: EM & Ex-US Value: trading cost and index drag

Portfolio Visualizer can do regressions using various world regions, although there isn't any option to split developed and emerging markets. For example, PDN shows 0.99 Mkt-RF, 0.30 SMB, 0.14 HML, -0.13 Mom, 3.31% annual alpha.
by Ketawa
Thu Nov 20, 2014 9:46 am
 
Forum: Investing - Theory, News & General
Topic: EM & Ex-US Value: trading cost and index drag
Replies: 12
Views: 1451

Re: An alternative to alternative investments [QSPIX]

Which is the preferred version of this fund "regular" or LV (low volatility)? From the article: There’s also a version of the fund (QSLIX) that targets half the volatility (5% instead of 10%) of QSPIX. The fee is lowered to 0.85%. Thus, you are paying more than half the fee to earn half t...
by Ketawa
Thu Nov 20, 2014 12:50 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: An alternative to alternative investments [QSPIX]

The annualized return is close to the average 'style premium' across the asset classes. The main effect of diversifying across additional markets, or premia, is to lower the standard deviation (rather than adding to returns). My sense is the same would be true if 'carry' and 'defensive' sorts were ...
by Ketawa
Wed Nov 19, 2014 10:32 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: An alternative to alternative investments [QSPIX]

How would you rebalance this fund? Stocks? Bonds? A split between the two? And could you tax loss harvest, or do you always want QSPIX in tax advantaged? It should definitely come from the equity allocation as the volatility is very equity-like. Look at a Morningstar growth chart and compare it to ...
by Ketawa
Wed Nov 19, 2014 3:08 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: An alternative to alternative investments [QSPIX]

It looks as if this fund can be purchased through Fidelity with a small $2,500 minimum, although with a not small $50 transaction fee. So I am ready to learn more about the fund. https://fundresearch.fidelity.com/mutual-funds/fees-and-prices/00203H420 I don't consider it the fault of the reader if ...
by Ketawa
Wed Nov 19, 2014 12:21 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: An alternative to alternative investments [QSPIX]

Larry, You list "four premia that many investors desire:" value, size, momentum, and defensive. I thought the second was "carry " rather than size. Am I incorrect? Or has something changed about their carry strategy? Thanks, wbond It looks like that was a typo. The second page o...
by Ketawa
Wed Nov 19, 2014 11:25 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 89
Views: 5645

Re: Borrowing from TSP for lot purchase

TSP loans are paid out in the same proportion of Traditional/Roth as the overall account. Loan repayments are in the same Traditional/Roth proportion as the original loan. If your TSP account was 100% Roth TSP, the loan would be 100% Roth and paid back as 100% Roth. Having a larger Roth balance make...
by Ketawa
Wed Nov 19, 2014 11:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Borrowing from TSP for lot purchase
Replies: 34
Views: 2118

Re: 25yo Military New Investor

-@Ketawa, so in the TSP this would look like 20% G Fund, 80% C/S Fund (80/20%)? Then when we get the money for the IRA's it's just a matter of 2 funds in each IRA that cover the total stateside and international stock markets, 50/50 split? My suggestion was just one potential way to build a three-f...
by Ketawa
Wed Nov 19, 2014 10:18 am
 
Forum: Investing - Help with Personal Investments
Topic: 25yo Military New Investor
Replies: 34
Views: 2846

Re: Chip and Signature (not PIN) in Europe

The PenFed Platinum Cash Rewards and the Barclaycard Arrival Plus are both good options for Chip + PIN and no foreign transaction fees. I have both and I remember setting my PIN on the PenFed Platinum Cash Rewards. For some reason, I can't remember setting a PIN on the Barclaycard Arrival Plus nor r...
by Ketawa
Tue Nov 18, 2014 12:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Chip and Signature (not PIN) in Europe
Replies: 15
Views: 776

Re: EM & Ex-US Value: trading cost and index drag

Underperforming over 5 years but not 1 or 3 would imply that there were problems in the past that have potentially been fixed, not that poor performance strikes after 5 years. PXH was well known for performing poorly compared to its index from the web site, but then the problems were fixed and it ha...
by Ketawa
Tue Nov 18, 2014 10:42 am
 
Forum: Investing - Theory, News & General
Topic: EM & Ex-US Value: trading cost and index drag
Replies: 12
Views: 1451

Re: Save for down payment w/Roth TSP?

Assuming that buying a home makes sense for your personal situation, nobody would fault you for saving $X in taxable for a down payment and $Y in the TSP for your retirement. Saving $X + $Y in the TSP, then taking out $X as a TSP loan is better in some cases since you can preserve valuable tax-advan...
by Ketawa
Fri Nov 14, 2014 7:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Save for down payment w/Roth TSP?
Replies: 11
Views: 687

Re: Conflicting Free FICO Scores

There is more than one type of FICO score. Barclaycard gives the FICO 8 score, with a range of 300 to 850. PenFed gives the FICO NextGen score, with a range of 150 to 950. Source: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-versions-and-variations/td-...
by Ketawa
Fri Nov 14, 2014 12:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Conflicting Free FICO Scores
Replies: 11
Views: 994

Re: 25yo Military New Investor

2. Retire at 45 w/ 150k a year: Right now my long term plan is to work 20yrs (or more) and take advantage of the military pension. Assuming conservatively it is averaging $50K a year, my goal is to provide the other $100K. Considering my personality I wouldn’t be surprised if I kept working in some...
by Ketawa
Fri Nov 14, 2014 12:17 am
 
Forum: Investing - Help with Personal Investments
Topic: 25yo Military New Investor
Replies: 34
Views: 2846

Re: 25yo Military New Investor

Questions (in no particular order) : 1. We want to be pretty lazy investors (1-3 funds at the most) while keeping with our 85/15 AA. Would it be stupid to invest 100% in to the L2050 fund and then roll all of it into the L2060 fund if and when it becomes available (L2050 starts to progress to 84/16...
by Ketawa
Thu Nov 13, 2014 11:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: 25yo Military New Investor
Replies: 34
Views: 2846

Re: 25yo Military New Investor

What a horrible way to "help" our service members who are already sacrificing to serve their country. Giving them loans right off the bat does tie them into USAA early on. Wow. How about offering a record high interest savings account to add money into their pockets rather than taking mon...
by Ketawa
Thu Nov 13, 2014 11:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: 25yo Military New Investor
Replies: 34
Views: 2846

Re: Should I avoid buying Vanguard ETFs?

I'm laughing because your non-Boglehead source appears to be clueless. Some ETFs do occassionally distribute capital gains for pretty clear reasons. Those ETFs could be non-Vanguard ETFs and could be Vanguard ETFs. The Vanguard ETF structure diminishes the chance of a Vanguard ETF from distributing...
by Ketawa
Wed Nov 12, 2014 12:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I avoid buying Vanguard ETFs?
Replies: 12
Views: 1541

Re: Yet Another Credit Card Thread

Applying for credit cards to get the signup bonus is the way to optimize rewards, but it takes a lot of diligence and time, and it adds complexity to your life. In the last 11 months, I have spent about $17k to meet spending requirements through my normal daily spending and earned: $444 from the Bar...
by Ketawa
Tue Nov 11, 2014 6:00 pm
 
Forum: Personal Consumer Issues
Topic: Yet Another Credit Card Thread
Replies: 24
Views: 1822

Re: Yet Another Credit Card Thread

If you are looking for simple cash back cards that you can keep a long time, this is what I would recommend. AMEX Blue Cash Preferred - 6% on groceries, $75 annual fee worthwhile as long as you typically spend at least $208/month at grocery stores, easy to redeem for statement credit. PenFed Platinu...
by Ketawa
Tue Nov 11, 2014 5:49 pm
 
Forum: Personal Consumer Issues
Topic: Yet Another Credit Card Thread
Replies: 24
Views: 1822

Re: Question about Govt. TSP: G vs. F Funds

I would rather slightly increase my equity allocation, as the G Fund has zero volatility. You can hold more equities with the G Fund and have the same level of risk. Dumb question, but whats the easiest way to determine how much you could/would increase your equity allocation due to the lack of vol...
by Ketawa
Mon Nov 10, 2014 10:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Govt. TSP: G vs. F Funds
Replies: 63
Views: 6670

Re: PenFed Visa card for Gas program changing, now with a fe

I am a little confused as to why everyone is referring to the Penfed rewards gas program as 5%. I receive 5 "points" on my gas purchases. Unlike my chase card, 5 "points' does not equal $0.05. The rebate is less than 5% of my gas purchases. The discussion is about the PenFed Platinum...
by Ketawa
Thu Nov 06, 2014 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: PenFed Visa card for Gas program changing, now with a fee.
Replies: 132
Views: 30365

Re: PenFed Visa card for Gas program changing, now with a fe

I had a PenFed auto loan for about 9-10 months while I had the Cash Rewards card, qualifying me for the 5% cash back rate and exemption from the annual fee. I refinanced the loan with another lender in May 2014 and no longer have a product qualifying me for the 5% rate, but I'm still receiving it.
by Ketawa
Thu Nov 06, 2014 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: PenFed Visa card for Gas program changing, now with a fee.
Replies: 132
Views: 30365

Re: A Little Common Core Math problem

I didn't read the entire thread, but I distinctly remember having my first exposure to algebra, variables, simultaneous equations, etc in 7th grade, and that was when I was the only student in my grade in the 8th grade Honors Algebra class. This was in 1999. I went on to take Geometry (8th), Algebra...
by Ketawa
Thu Oct 30, 2014 3:20 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2693

Re: I moved, so my credit score dropped by 50 points

In December, my FICO 8 score calculated by TransUnion was 778. Over the next 8 months, I applied for 7 new credit cards for signup bonuses. My FICO 8 score was 769 in August. I'm shocked that four hard pulls, at most, would cause your score to drop 50 points.
by Ketawa
Sun Oct 26, 2014 8:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: I moved, so my credit score dropped by 50 points
Replies: 14
Views: 1895

Re: New Paper ". . . and the Cross-Section of Expected Retur

The paper has been linked in this thread. Interesting that value and momentum far exceed their threshold, while market beta barely does.
by Ketawa
Mon Oct 20, 2014 9:59 am
 
Forum: Investing - Theory, News & General
Topic: New Paper ". . . and the Cross-Section of Expected Returns"
Replies: 8
Views: 735

Re: Electric Razors

I tried using DE blades with shave cream for about 2-3 months. I could never get the hang of it after trying ~20 different blades, getting nicks almost every time, and I was never impressed with the closeness of the shave. Besides, it was a huge time sink. I don't need or want to shower immediately ...
by Ketawa
Fri Oct 17, 2014 10:18 am
 
Forum: Personal Consumer Issues
Topic: Electric Razors
Replies: 26
Views: 1902

Re: Is it possible to have a favorite movie

Yes. Eternal Sunshine of the Spotless Mind.
by Ketawa
Fri Oct 17, 2014 8:42 am
 
Forum: Personal Consumer Issues
Topic: Is it possible to have a favorite movie
Replies: 82
Views: 3280

Re: How much is your fixed income investment earning?

G Fund: 2.375%
Mango/Union Plus/Santander: 6.1%
NFCU special CD: 5%
Average: 3.8%

All FDIC insured or guaranteed. :sharebeer
by Ketawa
Wed Oct 08, 2014 11:09 am
 
Forum: Investing - Theory, News & General
Topic: How much is your fixed income investment earning?
Replies: 31
Views: 2819

Re: Should small-value investors be buying small value now?

What's the bet place to find these trailing p/e's? Morningstar only has forward looking p/e I believe. Well he did tell you it was from ETF.com... ETF.com reports that RZG (S&P 600 Pure Growth) has a P/E of 27.12 while RZV (S&P 600 Pure Value) has a P/E of 65.65. Meanwhile, RZV is far cheap...
by Ketawa
Mon Oct 06, 2014 10:47 pm
 
Forum: Investing - Theory, News & General
Topic: Should small-value investors be buying small value now?
Replies: 14
Views: 2010

Re: Highest Rate 6 month return

Mango, Union Plus, and Santander are worthwhile if you are willing to jump through the hoops. The best hands off method is: $5000 in Mango savings $5000 in Union Plus savings $50 transfer to/from Mango $500 transfer to/from Union Plus to avoid $2 fee (5.3% return at the margin for tying up an extra ...
by Ketawa
Mon Oct 06, 2014 2:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Highest Rate 6 month return
Replies: 11
Views: 1619

Re: Illmanen and AQR style premium fund +interview I did

Fidelity showing the expense ratio as 211 basis points, not 150 https://fundresearch.fidelity.com/mutual-funds/summary/00203H420 Some places list it as 211 but it is 150. AQR has waived the fee to keep it at 150. Yes, I confirmed this with a Fidelity rep. If you pull up the prospectus, I believe it...
by Ketawa
Thu Oct 02, 2014 2:45 pm
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5947

Re: Question about Govt. TSP: G vs. F Funds

Maybe when I get around to it, I will tabulate the difference for every year. I did this, and the results were actually very surprising to me. F Fund G Fund VUSTX Combination Difference 2004 4.30% 4.30% 7.12% 5.24% 0.94% 2005 2.40% 4.49% 6.61% 5.20% 2.80% 2006 4.40% 4.93% 1.74% 3.87% -0.53% 2007 7....
by Ketawa
Wed Oct 01, 2014 3:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Govt. TSP: G vs. F Funds
Replies: 63
Views: 6670

Re: Question about Govt. TSP: G vs. F Funds

The F Fund has a longer duration and benefitted from falling interest rates. It doesn't make a lot of sense to compare it to a fund that has zero duration. The F Fund also has a lot of Treasuries that yield less than the G Fund. Why would you want any of those Treasuries in your fixed income portfol...
by Ketawa
Wed Oct 01, 2014 2:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Govt. TSP: G vs. F Funds
Replies: 63
Views: 6670

Re: Question about Govt. TSP: G vs. F Funds

You should learn more about how the G Fund and F Fund work before dismissing the G Fund returns as pitiful. The G Fund is a legitimate free lunch in investing. There are plenty of other threads and posts on the board about this topic.
by Ketawa
Wed Oct 01, 2014 11:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Question about Govt. TSP: G vs. F Funds
Replies: 63
Views: 6670

Re: Due diligence on RAFI Pure Small Value

I hold PXSV and PDN, as well as QICLX and QEELX. Considering moving to QSMLX for domestic SCV and adding QSPIX, but haven't made final decision. AQR funds are available with low minimums at Fidelity and TD Ameritrade, and possibly other brokerages. What is it about QSMLX that you seem to like bette...
by Ketawa
Wed Oct 01, 2014 10:06 am
 
Forum: Investing - Theory, News & General
Topic: Due diligence on RAFI Pure Small Value
Replies: 187
Views: 17017

Re: Due diligence on RAFI Pure Small Value

I hold PXSV and PDN, as well as QICLX and QEELX. Considering moving to QSMLX for domestic SCV and adding QSPIX, but haven't made final decision. AQR funds are available with low minimums at Fidelity and TD Ameritrade, and possibly other brokerages.
by Ketawa
Tue Sep 30, 2014 5:51 pm
 
Forum: Investing - Theory, News & General
Topic: Due diligence on RAFI Pure Small Value
Replies: 187
Views: 17017

Re: The volatility of premiums

If I picked any random half of the market, wouldn't the odds of my portfolio premium being negative in any given year be 50%? If so, it looks to me like value is less risky than growth and small is less risky than large, as both are ways to underperform the average less than 50% of the time. Stocks...
by Ketawa
Mon Sep 29, 2014 10:39 pm
 
Forum: Investing - Theory, News & General
Topic: The volatility of premiums
Replies: 21
Views: 1516

Re: Illmanen and AQR style premium fund +interview I did

Larry, about how much of the AQR Style Premia Fund (QSPIX) are you recommending for investors? I was thinking 10% of my equity holdings. It looks like QSPIX is available at Fidelity. I have not made any decision yet about whether I would invest in it. I have to wait until at least February 2015 anyw...
by Ketawa
Mon Sep 29, 2014 10:52 am
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5947

Re: Future equities 2% real rhetoric is hogwash

I have been reading lately quite a few people discussing future 2% real returns on equities and I just don't understand how that is possible. Corporations are out there to make a profit. When a corporation makes money it has 2 choices with it. One is to invest back in the corporation thereby increa...
by Ketawa
Mon Sep 29, 2014 10:07 am
 
Forum: Investing - Theory, News & General
Topic: Future equities 2% real rhetoric is hogwash
Replies: 45
Views: 3948
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