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Re: Roth vs trad 401k + various Qs on SCV, momentum, bonds

The mortgage rate is probably better than I was originally thinking, if a 30 year. I was considering 15 year rates. I'd still look to pay down that mortgage before further building up taxable accounts. Bonds in taxable likely makes more sense than the reverse in this low interest rate environment. S...
by Sammy_M
Fri Feb 27, 2015 9:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Roth vs trad 401k + various Qs on SCV, momentum, bonds
Replies: 7
Views: 576

Re: Roth vs trad 401k + various Qs on SCV, momentum, bonds

I'd stick with traditional 401K. I'd max the HSA and then max the 401K even if it means drawing down on taxable investments. Some random thoughts... Mortgage rate seems high. Can you refi? Otherwise pay down as rapidly as you can before buying other fixed income (provided you've got a sizable emerge...
by Sammy_M
Fri Feb 27, 2015 6:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Roth vs trad 401k + various Qs on SCV, momentum, bonds
Replies: 7
Views: 576

Re: How to hedge a 5/5 ARM?

psychoslowmatic wrote:Or should I KISS and just build up my emergency fund a bit then put all extra funds into the mortgage? 401k and IRA are maxed, no taxable investment accounts yet, no other debt.

I'd probably just do this. 5YR CDs are only at 2.25 now per depositaccounts.com.
by Sammy_M
Fri Feb 27, 2015 6:42 am
 
Forum: Investing - Help with Personal Investments
Topic: How to hedge a 5/5 ARM?
Replies: 20
Views: 1385

Re: What bonds to select for a taxable account

At what marginal tax rate would a 2.25% 5YR CD with 6 month EWP be worse than Vanguard Intermediate-Term Tax-Exempt with SEC yield as of 02/17/2015 of 1.51% and Average duration of 4.7?
by Sammy_M
Wed Feb 18, 2015 8:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: What bonds to select for a taxable account
Replies: 6
Views: 533

Re: What bonds to select for a taxable account

I'm 29 and my 401k and IRA have been maxed out for bonds. Even with them maxed out I'm below a 20% for bond allocation and would like to find some bond funds to purchase in a taxable account. I'd like to find a fund that will balance market volatility (and hopefully produce a decent return). I'd be...
by Sammy_M
Wed Feb 18, 2015 7:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: What bonds to select for a taxable account
Replies: 6
Views: 533

Re: An alternative to alternative investments [QSPIX]

Anyone know how much leverage the AQR Equity Market Neutral Fund (QMNIX, 1.37% ER) employs? It doesn't include Carry exposure.
by Sammy_M
Wed Feb 18, 2015 7:33 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 39271

Re: Emerging markets bonds better than US high yield bonds?

Didn't spot much that's interesting in the annual report. There is a capital loss carryforward, but it still might be best to hold in an IRA. I don't think there's any foreign taxes involved (assuming it never invests directly), and if I understand correctly, after the fund does well enough, there ...
by Sammy_M
Tue Feb 17, 2015 1:21 pm
 
Forum: Investing - Theory, News & General
Topic: Emerging markets bonds better than US high yield bonds?
Replies: 28
Views: 2668

Re: Emerging markets bonds better than US high yield bonds?

Wisdomtree's CEW fund Oddly, I didn't see a place to download the annual report. Googling this will return a result from hosted.rightprospectus.com for the Aug 31 2014 report: annual-report wisdomtree trust Currency Strategy, Fixed Income and Alternative Funds Here is a link to all reports on all t...
by Sammy_M
Sun Feb 15, 2015 12:36 pm
 
Forum: Investing - Theory, News & General
Topic: Emerging markets bonds better than US high yield bonds?
Replies: 28
Views: 2668

Re: Emerging markets bonds better than US high yield bonds?

See below for Research Affiliates' outlook on EM currency vs. EM debt. Appears they expect all the return from the EM debt asset class to come from FX. http://i59.tinypic.com/2v3o6pt.png http://www.researchaffiliates.com/AssetAllocation/Pages/Core-Overview.aspx I wonder if buying Wisdomtree's CEW fu...
by Sammy_M
Sun Feb 15, 2015 9:52 am
 
Forum: Investing - Theory, News & General
Topic: Emerging markets bonds better than US high yield bonds?
Replies: 28
Views: 2668

Re: 529 Lump Sum contribution for newborn

Not all prepaid plans limit out of state use. Our lump sums above were into the WA state prepaid plan, and are transferable at full value, without penalty, to any qualified institution, including out of state. The current value of those prepaid plans based on the current price of local tuition is $...
by Sammy_M
Sun Feb 15, 2015 7:55 am
 
Forum: Personal Finance (Not Investing)
Topic: 529 Lump Sum contribution for newborn
Replies: 31
Views: 2071

Re: College savings costs / number

I've already mentioned one solution: Stop saving for college. That way all the middle class families will be able to afford college. Their kids will go to public institutions at about $20K to $25K a year minus tax breaks of $2500 minus summer jobs minus part-time work during the school year minus f...
by Sammy_M
Sat Feb 14, 2015 4:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: College savings costs / number
Replies: 120
Views: 6809

Re: 529 Lump Sum contribution for newborn

If I had it, I'd dump it in Colorado 529 stable value at 3.09% and then move fixed income to equities in my 401K. Even if you end up withdrawing with penalty, you'd still come out ahead. Another reason to lump sum in now is to be grandfathered in should any changes occur in the tax code.
by Sammy_M
Fri Feb 13, 2015 6:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: 529 Lump Sum contribution for newborn
Replies: 31
Views: 2071

Re: Using online tax software

I'm generally very comfortable with online transactions but simply will not store my tax info in the cloud. Regardless of the likelihood of breach, the severity is too high. Everything is there: SSNs and DOBs for the entire family, all financial institutions we use, sometimes even account numbers. ...
by Sammy_M
Wed Feb 11, 2015 10:39 am
 
Forum: Personal Consumer Issues
Topic: Using online tax software
Replies: 14
Views: 1033

Re: Using online tax software

I'm generally very comfortable with online transactions but simply will not store my tax info in the cloud. Regardless of the likelihood of breach, the severity is too high.

Everything is there: SSNs and DOBs for the entire family, all financial institutions we use, sometimes even account numbers.
by Sammy_M
Wed Feb 11, 2015 9:09 am
 
Forum: Personal Consumer Issues
Topic: Using online tax software
Replies: 14
Views: 1033

I-Bonds or 2.25% APY 5YR CD

I have a $20K CD that just matured. I won't need the money within the next 12 months. Looks like the best 5YR CD today is 2.25% APY with 6 months of forfeited interest early withdrawal penalty (EWP). Neither my wife or I have bought I-Bonds this year, and they're at 1.48% until May 1. It will probab...
by Sammy_M
Wed Feb 11, 2015 7:01 am
 
Forum: Investing - Help with Personal Investments
Topic: I-Bonds or 2.25% APY 5YR CD
Replies: 3
Views: 663

Re: Developed Markets Index Fund has lower QDI

I stopped adding to international funds (VEA,VEU,VWO) in the taxable account in 2012 when I noticed that the dividend yields are in general much higher than domestic equity. Now I allocate international funds to tax advantaged accounts and leave the taxable account for domestic equity. Same here, b...
by Sammy_M
Wed Feb 11, 2015 6:45 am
 
Forum: Investing - Theory, News & General
Topic: Developed Markets Index Fund has lower QDI
Replies: 6
Views: 423

Re: iShares Files for Intl Quality and Momentum Factor ETFs

Robert, Do you see merit in isolating the other factor exposure from beta exposure for rebalancing benefit? I'm intrigued by the QSPIX strategy and am seriously considering lessening my use long-only Value & Momentum funds and redirecting these monies to inexpensive Market funds and QSPIX (at 5-...
by Sammy_M
Sun Feb 01, 2015 11:37 am
 
Forum: Investing - Theory, News & General
Topic: iShares Files for Intl Quality and Momentum Factor ETFs
Replies: 28
Views: 2320

Re: An alternative to alternative investments [QSPIX]

I think the best way to look at is that one is paying a substantial premium for something with real expected returns that are historically super uncorrelated with equities, bonds, CCFs. Moreover, it is implementing 4 styles that are virtually uncorrelated with each other. Investor is paying huge pr...
by Sammy_M
Sun Feb 01, 2015 8:53 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 39271

Re: An alternative to alternative investments [QSPIX]

I did a quick analysis a couple weeks ago and found that QSPIX + plain beta has a comparable cost per unit risk exposure to a long-only tilted portfolio (using say, AQR core funds (not sure where else you'll get momentum that doesn't subtract from value)). The differences are a) with QSPIX you can ...
by Sammy_M
Tue Jan 27, 2015 7:00 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 39271

Re: An alternative to alternative investments [QSPIX]

The AQR presentation in the link above was very interesting. On pg. 44 (of the PDF) they outline 3 options for accessing style premia Option 1: Single-Style Long-Only Strategy Option 2: Multi-Style Long-Only Strategy Option 3: Multi-Style Long-Short Strategy Advantages/disadvantages are discussed o...
by Sammy_M
Tue Jan 27, 2015 6:56 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 39271

Re: An alternative to alternative investments [QSPIX]

The AQR presentation in the link above was very interesting. On pg. 44 (of the PDF) they outline 3 options for accessing style premia Option 1: Single-Style Long-Only Strategy Option 2: Multi-Style Long-Only Strategy Option 3: Multi-Style Long-Short Strategy Advantages/disadvantages are discussed on...
by Sammy_M
Tue Jan 27, 2015 3:42 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 39271

Re: iShares Files for Intl Quality and Momentum Factor ETFs

They're out... IMTM, 0.30 ER https://www.ishares.com/us/products/271538/ishares-msci-international-developed-momentum-factor-etf IQLT, 0.30 ER https://www.ishares.com/us/products/271540/ishares-msci-international-developed-quality-factor-etf Global Momentum is now quite affordable (MTUM and IMTM) .....
by Sammy_M
Tue Jan 27, 2015 3:09 pm
 
Forum: Investing - Theory, News & General
Topic: iShares Files for Intl Quality and Momentum Factor ETFs
Replies: 28
Views: 2320

Re: Factor return premiums: academic theory vs. what you'll

I don't follow the author's logic or math. Based on Table 1 in the Journal of Index Investing article: SmB: 1.1 HmL: 4.6 MoM: 4.6 Take IJS with a 0.25% expense ratio and factor exposures of 0.79, 0.51 and 0.08 respectively as derived from portfoliovisualizer: =0.79*1.1+0.51*4.6+0.08*4.6-0.25 = 3.3 e...
by Sammy_M
Tue Dec 23, 2014 12:53 pm
 
Forum: Investing - Theory, News & General
Topic: Factor return premiums: academic theory vs. what you'll get
Replies: 9
Views: 1249

Re: An alternative to alternative investments [QSPIX]

The challenge is how to use RALS in a portfolio. ... Again, to me, this illustrates the importance of looking at investment options through a factor exposure framework (rather than simply fund names), to understand the characteristics of fund options, and to construct a portfolio to target, more ex...
by Sammy_M
Sat Nov 29, 2014 9:04 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 39271

Re: Lenovo vs Surface Pro 3

I know it's a little out of your budget but the Yoga 3 looks pretty awesome
http://www.pcworld.com/article/2846219/ ... hinge.html
by Sammy_M
Mon Nov 17, 2014 7:59 pm
 
Forum: Personal Consumer Issues
Topic: Lenovo vs Surface Pro 3
Replies: 20
Views: 1732

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

Larry, do you know the target factor tilts for the AQR Core, Intl Core and two Style Premia funds?

M* shows equities in the Style Premia funds are 75% international. Does that seem correct?
by Sammy_M
Sun Nov 02, 2014 10:34 am
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 71
Views: 8189

Re: RBD for Gold Miners

Wow. Another beating today. GDX down 5+%.
by Sammy_M
Fri Oct 31, 2014 8:42 am
 
Forum: Investing - Theory, News & General
Topic: RBD for Gold Miners
Replies: 12
Views: 1699

RBD for Gold Miners

GDX down 7.3% and GDXJ down 8.5% today

To quote Bill Bernstein, it's an asset class that's appropriate for at most the one percent of investors with enough historical knowledge, patience, cash, and courage.
viewtopic.php?p=1892541#p1892541
by Sammy_M
Thu Oct 30, 2014 8:02 pm
 
Forum: Investing - Theory, News & General
Topic: RBD for Gold Miners
Replies: 12
Views: 1699

Re: Starting Taxable Investing

Concur w Dale_G. Only minor consideration I'd offer is whether you want to put the Total Intl within taxable vs. Roth. Allows you to take advantage of the foreign tax credit.

Taxable
07% Total International (VTIAX, 0.14)

Roth
19% Total Stock (VTSAX, 0.05)
10% Total International (VTIAX, 0.14)
by Sammy_M
Fri Oct 24, 2014 3:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Starting Taxable Investing
Replies: 8
Views: 1499

Re: Int'l value fund question

Vanguard Intl Value also has emerging market exposure
by Sammy_M
Thu Oct 23, 2014 2:42 pm
 
Forum: Investing - Theory, News & General
Topic: Int'l value fund question
Replies: 3
Views: 460

Re: Ultimate Small Cap Value Portfolio...

... DLS and IJS. ...sooo 2000's. Today, it's all about IEIS and PXSV. :wink: (neither of which do I own) Side questio. Any place that allows one to purchase ieis? All my brokerages have it restricted Fidelity. I haven't bought any. I'll be keeping an eye on spreads though, and at some point may swi...
by Sammy_M
Sat Oct 11, 2014 6:05 am
 
Forum: Investing - Theory, News & General
Topic: Ultimate Small Cap Value Portfolio...
Replies: 31
Views: 4394

Re: Quicken 2015 for Windows - Any reviews?

^It won't help me with rebalancing. No bands. I use a spreadsheet.
by Sammy_M
Sat Oct 11, 2014 5:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Quicken 2015 for Windows - Any reviews?
Replies: 109
Views: 19882

Re: Quicken 2015 for Windows - Any reviews?

Purchased Home and Business 2015 a few hours ago. Upgraded from 2012 with about five years of data and lots of accounts. No observed problems.

X-ray feature is a nice enhancement. Wish it would allow me to classify my i-bonds and CDs as bonds though.
by Sammy_M
Fri Oct 10, 2014 8:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quicken 2015 for Windows - Any reviews?
Replies: 109
Views: 19882

Re: is anything 'cheap' out there?

My guess:
Precious metal equities (GDXJ)
Collateralized commodity futures (DBC)
Emerging mkt value (PXH)
by Sammy_M
Fri Oct 10, 2014 5:51 pm
 
Forum: Investing - Theory, News & General
Topic: is anything 'cheap' out there?
Replies: 54
Views: 5976

Re: Ultimate Small Cap Value Portfolio...

princetontiger wrote:... DLS and IJS.

...sooo 2000's. Today, it's all about IEIS and PXSV. :wink: (neither of which do I own)
by Sammy_M
Fri Oct 10, 2014 5:02 pm
 
Forum: Investing - Theory, News & General
Topic: Ultimate Small Cap Value Portfolio...
Replies: 31
Views: 4394

Re: DFA-RAFI & factor diversification within 30:30:40 portfo

. 1. The MSCI quality index does perform okay. A 30:30:40 MSCI Quality:DFA LV: DFA SV had annualized return/SD/Sharpe ratio of 15.3/17.8/0.67 for 1980-2013 period, so higher Share Ratio than when DFA LG is added. Just to note the MSCI quality index has about a -0.15 size and value load, and a 0.3 '...
by Sammy_M
Sun Sep 28, 2014 5:46 am
 
Forum: Investing - Theory, News & General
Topic: DFA-RAFI & factor diversification within 30:30:40 portfolio
Replies: 17
Views: 3304

Re: Adding Momentum and Quality factor exposure

stlutz, I definitely hear you about AQR expenses. I unfortunately won't be able to get all the momentum/quality exposure I would prefer domestically because of 401K options. I have Vng TSM in 401K but subpar international options. AQR Core funds are not cheap, but I would be lying if I said that Lar...
by Sammy_M
Mon Sep 22, 2014 4:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Adding Momentum and Quality factor exposure
Replies: 4
Views: 454

Adding Momentum and Quality factor exposure

I've been following the literature and discussion on Momentum and Quality factors, and after after a year or so, am convinced that it is worth pursuing (at reasonable costs). I'm now examining available fund options and am moving toward implementation. For foreign equities, the choices seem limited....
by Sammy_M
Sun Sep 21, 2014 7:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Adding Momentum and Quality factor exposure
Replies: 4
Views: 454

Re: Good article on style premium investing & AQR new fund

FWIW They will be coming out with a new version of the fund with about half the expense ratio, but targetting half the volatility. So more bond like volatility, rather than about half the stock volatility, and of course lower returns Larry This appears to be QSLIX with an ER presently capped at 0.8...
by Sammy_M
Fri Sep 19, 2014 8:36 am
 
Forum: Investing - Theory, News & General
Topic: Good article on style premium investing & AQR new fund
Replies: 86
Views: 9024

Re: Emerging markets 1900-2013

On the Schwab Emerging Markets Large Company Index (SFENX), since inception 01/31/2008 to end June 2014 (similar period to earlier comparisons), tracking error over this period has been -1.86%, compared to -1.14% for PXH. In addition, SFENX (and the recent ETF version FNDE) has less stock holdings ...
by Sammy_M
Mon Sep 01, 2014 5:18 pm
 
Forum: Investing - Theory, News & General
Topic: Emerging markets 1900-2013
Replies: 54
Views: 6460

Re: MOM faltering? [Momentum]

Moving toward implementation...the ER for an international value fund like SFNNX, EFV or VTRIX is 0.34-0.43 vs. 0.70 for AQR International Core (QICLX). AQR Intl. Core tilts not only to value, but also momentum and profitability. Is the negative correlation between value and momentum likely to deliv...
by Sammy_M
Thu Jul 31, 2014 8:37 pm
 
Forum: Investing - Theory, News & General
Topic: MOM faltering? [Momentum]
Replies: 94
Views: 6618

Re: Using 529 Stable Value Fund for non-college savings

fyi, looks like the new rate is 2.64%. Still the best fixed-income 529 option?
by Sammy_M
Thu Jan 02, 2014 4:20 pm
 
Forum: Investing - Theory, News & General
Topic: Using 529 Stable Value Fund for non-college savings
Replies: 11
Views: 1771

Re: Pull-ups and Push-ups

What else should I consider adding for my back? As far as limited equipment exercises, supermans are indeed very good to target the lower back. Hanging leg raises, bringing toes all the way to the bar and back down in a slow and controlled manner, work both abdominal and lower back muscles. Also an...
by Sammy_M
Sun Nov 17, 2013 8:25 am
 
Forum: Personal Consumer Issues
Topic: Pull-ups and Push-ups
Replies: 385
Views: 65116

Re: How to beat the index

If someone's created index works better, investors will flock toward it and the market profile will change and so will the pure index that tracks it. This is why it's so difficult to beat the cap-weighted index over time. Very well put. Unless you (i) have investing skills that are superior to the ...
by Sammy_M
Fri Nov 15, 2013 1:41 pm
 
Forum: Investing - Theory, News & General
Topic: How to beat the index
Replies: 26
Views: 2055

Re: Shiller P/E 10 hits 25

Diversify globally. It's not 25 everywhere.

If you've already done that, I think it's reasonable to decrease US equities by a couple % for each increase in PE10 above say 23.
by Sammy_M
Wed Nov 13, 2013 8:45 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller P/E 10 hits 25
Replies: 268
Views: 19870

Re: iBonds for tax sheltering

We fund in this order

Pretax 401k
Roth IRAs (backdoor)
iBonds
Mortgage paydown (2.625)

I-Bonds count toward our bond allocation. 0.20 real with no credit and no duration risk is about the best deal going.
by Sammy_M
Wed Nov 13, 2013 8:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: iBonds for tax sheltering
Replies: 18
Views: 1623

Fama & Shiller: Great Democratizers

I did a search but didn't see where anyone mentioned this article before. I thought it was very well written. http://www.indexuniverse.com/sections/blog/20113-fama-a-shiller-great-democratizers.html Its larger point is that both Fama and Shiller have helped investors understand the properties of the...
by Sammy_M
Wed Nov 06, 2013 12:17 pm
 
Forum: Investing - Theory, News & General
Topic: Fama & Shiller: Great Democratizers
Replies: 0
Views: 207

Re: Pull-ups and Push-ups

My home workout is simple: 1. Pull (pull-ups) 2. Push (push-ups) 3. Core (hanging knee or leg lifts) 4. Legs (squats/lunges) I currently do 10 sets of 8 each, with a minute rest between each set. Total workout = 30 minutes. Sounds a lot like "Angie." http://www.mensfitness.com/training/en...
by Sammy_M
Sat Nov 02, 2013 7:27 am
 
Forum: Personal Consumer Issues
Topic: Pull-ups and Push-ups
Replies: 385
Views: 65116
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