Search found 1472 matches

by grap0013
Thu Jul 02, 2015 7:52 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 359
Views: 45041

Re: What are you up YTD? [Year To Date]

+4.03% per Morningstar

International SCV is carrying the load.
by grap0013
Thu Jul 02, 2015 7:50 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

1 week returns:

My entire portfolio (all equities): -1.55%
intermed term treasuries VFITX: -0.15%
QSPIX: +0.82%

What is not to like?! :D
by grap0013
Wed Jul 01, 2015 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Obsessing towards zero balance on credit card.
Replies: 95
Views: 4091

Re: Obsessing towards zero balance on credit card.

It's entirely possible that I could have CC charges in a month that exceed my monthly retirement income, thus requiring a transfer of funds into my checking account from investments/savings. A simple monthly autopay setup isn't going to work... Keep more :moneybag in checking. What's the interest r...
by grap0013
Tue Jun 30, 2015 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Obsessing towards zero balance on credit card.
Replies: 95
Views: 4091

Re: Obsessing towards zero balance on credit card.

My CC has the option to pay in full every month automatically and that's what I do. I NEVER check early to pay it off before it is due. Your obsession does not sound healthy, but there is a lot of obsession in these here parts. Does your obsessing negatively impact other areas of your life? Are your...
by grap0013
Tue Jun 30, 2015 10:19 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

One magnitude of correlation example: Let's say US stocks and EMs have a positive correlation of 0.68 and you get yearly returns of: 2012 US 10% EM 1% 2013 US -2% EM -18% 2014 US 5% EM 3% Correlations were all in the same direction (positive vs. negative returns) but US returns are in the green whil...
by grap0013
Tue Jun 30, 2015 10:15 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

Treasury bonds don't have negative correlation with stocks. Look at the bond return of the last 5 years. If they were negatively correlated, bonds would have huge losses. They don't. The only thing I am aware of that is negatively correlated with stocks is shorting the stock market:) Au contraire m...
by grap0013
Tue Jun 30, 2015 7:36 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

Down 0.61% today when S&P 500 down 2.09% - not bad. Total Bond Market Index Fund was UP 0.66% today... I'm really not sure what you people think you are accomplishing here. Plain old stocks/bonds seems to be working just fine for diversification today. Treasury bonds were up even a little bit m...
by grap0013
Fri Jun 26, 2015 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Pay student loan off at 2.875%? - otherwise, 14 years to go
Replies: 52
Views: 4992

Re: Pay student loan off at 2.875%? - otherwise, 14 years to go

z3r0c00l wrote:What if we derive satisfaction from hearing you plan to pay this down right away?


Ha ha, funniest post of the day.

Keep your 20% bonds in tax deferred and invest your CD funds into equity funds in taxable and destroy the returns of that loan obligation! ;-)

My spouse would say pay it off.
by grap0013
Fri Jun 26, 2015 3:10 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads are more aggressive...
Replies: 57
Views: 5953

Re: Bogleheads are more aggressive...

Benchmark is Bogle who is very conservative. Therefore, most Bogleheads are on the aggressive side of conservative but still less aggressive than the general populace. For instance, I'm as aggressive as one gets in Boglehead land at 100% equity + max tilts, but I'm not buying individual cannabis oil...
by grap0013
Fri Jun 26, 2015 2:54 pm
Forum: Investing - Theory, News & General
Topic: AQR/Asness: Stocks, Bonds: Bleak Outlook
Replies: 90
Views: 6970

Re: AQR/Asness: Stocks, Bonds: Bleak Outlook

Angst wrote:Not to be funny - not at all - but I sense nothing of religion in HomerJ's comments, just agnosticism.


Good thing you are not trying to be funny! It may be futile. Nobody even giggled at my boomstick index reference and I was trying to funny! :-)
by grap0013
Fri Jun 26, 2015 8:22 am
Forum: Investing - Theory, News & General
Topic: AQR/Asness: Stocks, Bonds: Bleak Outlook
Replies: 90
Views: 6970

Re: AQR/Asness: Stocks, Bonds: Bleak Outlook

^Do I see expected real returns in the positive territory for the "boomstick" index on there? I'm gonna buy me some of that! Could be the biased vision of my avatar.... Pessimists are right more often but optimists get more done. I do not think the future looks as bleak as some may make it...
by grap0013
Wed Jun 24, 2015 7:18 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

It is also entertaining. What would I do with my time if I didn't have this thread? :happy Looks like this thread has run its course. What happened to stay the course? Back to the shadows I go until some more QSPIX stuff comes out, or a new factor is invented , or a good yoga thread comes along....
by grap0013
Mon Jun 22, 2015 9:51 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

The general question, with all strategies that a) are validated only by very long runs of backtested data, and b) show periods of of outperformance and underperformance that have, in the past, lasted for over a decade, is: do I personally have the depth of conviction (and life expectancy) needed to...
by grap0013
Fri Jun 19, 2015 3:12 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

. Another relevant paper by Fama-French http://www.chicagobooth.edu/news/pdf/Tilted%20Portfolios%20Hedge%20Funds%20and%20Portable%20Alpha%20200605.pdf Robert . Hmmm....I don't know what to make of your stance here Robert. Judging by your previous posts, I think you are intrigued by QSPIX but this p...
by grap0013
Thu Jun 18, 2015 7:13 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

If you're a tilter (which I would assume a QSPIX investor is) do you understand EVERYTHING about your SCV fund? Whether DFSVX/VISVX/VBR/QSMLX there are going to be things you don't know. Your SCV allocation is probably some multiple of your QSPIX allocation as well (for me it's about x 4) You make ...
by grap0013
Mon Jun 15, 2015 10:44 pm
Forum: Personal Consumer Issues
Topic: Which is a best place to start learning yoga?
Replies: 31
Views: 2960

Re: Which is a best place to start learning yoga?

P90X. Go big or go home. 1 hour 32 minutes. Burns about 650 calories. My back has not felt this good in 19 years. Do your best and forget the rest! Tony Horton is my teacher. I previously had no yoga experience.
by grap0013
Mon Jun 15, 2015 7:10 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

Packer 16 asked "how do you get comfortable?". I think investing is inherently a bit uncomfortable at least! One of the only ways to gain some comfort is to diversify as broadly as possible. When one is appropriately diversified, there is always a portion of the portfolio that is relative...
by grap0013
Mon Jun 15, 2015 7:05 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

I decided to buy this fund in my Fido IRA. I have purchased a sizable amount (400k) and am curious to see how it performs relatively to equties I hold in my taxable account at Fido. Will report back ! Wow. That is one very expensive lab experiment. Hope it works well for you. Please report back, I ...
by grap0013
Sat Jun 13, 2015 7:14 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

Nothing special about 10%; it could be 5% or whatever else. Until someone can give me a better rationale than just a hunch for what percentage of QSPIX one ought to include in their portfolio, I find it hard to justify anything. People can't even agree on REITs nor stock:bond mix. No chance to agre...
by grap0013
Fri Jun 12, 2015 10:26 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

Grap0013, I think it's worthwhile to note that for really volatile or weakly/negatively correlated asset classes, their diversification effect on a portfolio will appear to be bigger than their small % allocation would suggest. Don't remember how to calculate it, but I've seen that sort of example ...
by grap0013
Fri Jun 12, 2015 6:31 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

For those of you who have an allocation to this fund, I'm curious if you plan to rebalance into or out of it as applicable (with whatever rules you normally use to rebalance)? I'm just trying to figure out if this fund represent an asset class that would be rebalanced similar to stocks and bonds, o...
by grap0013
Thu Jun 11, 2015 1:26 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

AQR said what the fund would've done in the past and now it's doing it in real life and people still don't like it. This fund could be around in 20 years performing the same way and some people will still be skeptical. You really think we're crazy for not immediately buying into a new fund's hype? ...
by grap0013
Thu Jun 11, 2015 1:10 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

Food for thought: ⋅ For QSPIX to succeed, it needs dumb investors on the other side of every transaction. Why dumb? Because if QSPIX trades using solid scientific strategies supposed to always win , then these traders should be guaranteed to loose. They must really be dumb to doubt scienc...
by grap0013
Thu Jun 11, 2015 8:21 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

My question, to both grap and Random Walker , is this: At what point do you maximize your portfolio's Sharpe ratio? E.g., grap, instead of 100% SV, are you really something like 90% SV and 10% QSPIX? Or would kicking it up to 20% QSPIX boost your portfolio's Sharpe still further? At what point will...
by grap0013
Wed Jun 10, 2015 9:48 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

Let's call BS on 7% and say it is 5% or 6% (9.17% as of 5/29 but has had a bad couple days b/c Grap has been posting about it...the Grap Omen :-) ). Wouldn't that still be kinda awesome given it isn't correlated with stocks or bonds? Wouldn't that be a good thing for one's portfolio? It is the esti...
by grap0013
Wed Jun 10, 2015 7:15 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

I believe how QSPIX affects a portfolio depends on where you take assets from to create the position. If you take from the equity side, I believe you would likely keep expected return about the same and likely decrease portfolio volatility. If you take from the bond side, you would increase expecte...
by grap0013
Wed Jun 10, 2015 7:13 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

I would say that Robert T. had a balanced review earlier that reached a conclusion that you can get the factor loads desired in a less expensive and complicated manner by just being long (and tilted to factors) if your assets are situated in tax sheltered accounts. If the vast majority of your asse...
by grap0013
Mon Jun 08, 2015 10:13 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 378
Views: 30822

Re: QSPIX - thoughts on interesting fund

QSPIX is 10% of my portfolio. There is a lot of talk about AQR on the forum because retail investors can access their funds through Fidelity and TD Ameritrade. It's almost useless to compare returns of this fund against equities or fixed income in isolation, so I don't even bother. It doesn't even ...
by grap0013
Wed May 06, 2015 11:43 am
Forum: Investing - Theory, News & General
Topic: Gross: stockbug alert, future investment returns will be miniscule
Replies: 67
Views: 5738

Re: Gross: stockbug alert, future investment returns will be miniscule

^Agreed this is a depressing thread. Future bond returns will be current yield minus inflation. Real stock returns = 1/PE1. Plan for +/- 3% of that. Reading this stuff (eg. Gross) will only increase your stress levels which produces more cortisol and will deprive one of future life expectancy. Tune ...
by grap0013
Tue May 05, 2015 7:41 am
Forum: Investing - Theory, News & General
Topic: the missing value premium
Replies: 34
Views: 3507

Re: the missing value premium

^ My linked chart goes all the way back to 1993 right after Fama-French wrote their classic 1992 paper. Note that it took about 8 years after that paper for the premium to start showing up. One must be patient. I think with some of these new factors the first 5-10 years may be rough for them but eve...
by grap0013
Tue May 05, 2015 7:35 am
Forum: Investing - Theory, News & General
Topic: the missing value premium
Replies: 34
Views: 3507

Re: the missing value premium

Whether or not the purported "premium" shows up in some model is one thing, whether or not it shows up in real world mutual funds and indexes is another: Annualized returns for past 20 years May-1995 to May-2015 Vanguard Growth Index (VIGRX) = 9.59% Vanguard Value Index (VIVAX) = 9.06% MS...
by grap0013
Mon May 04, 2015 11:27 am
Forum: Investing - Theory, News & General
Topic: Best Time of Year to Rebalance Portfolio?
Replies: 54
Views: 4349

Re: Best Time of Year to Rebalance Portfolio?

The 3rd Friday in March. I think Research Affliates backtested the bejesus out of their fundamental indexes and found this strategy worked best. See March 2009 for proof in a real life example! :wink:
by grap0013
Mon May 04, 2015 7:29 am
Forum: Investing - Theory, News & General
Topic: the missing value premium
Replies: 34
Views: 3507

Re: the missing value premium

This kinda reminds me of the equity premium. Even if it isn't realized you still don't underperform by much (eg. bonds beat stocks in 30 year period by 0.1%) Therefore, trying to get these premiums is "riskier" but it isn't. Biggest risk is yourself changing strategies frequently and doing...
by grap0013
Wed Apr 29, 2015 10:02 pm
Forum: Investing - Help with Personal Investments
Topic: DFA as a new 401k option - Poll
Replies: 12
Views: 1003

Re: DFA as a new 401k option - Poll

IMHO if you have to ask and the answers will influence your decision then you are not ready to tilt. There will be times when tilting does not work well and you'll read some very good arguments not to do it. Staying the course with any strategy is key. When you come in guns a blazin' for tilting no ...
by grap0013
Mon Apr 27, 2015 3:10 pm
Forum: Investing - Theory, News & General
Topic: MSCI Diversified Multi-Factor Index
Replies: 36
Views: 4225

Re: MSCI Diversified Multi-Factor Index

WORLD ex USA Small DIVERSIFIED MULTI-FACTOR Index (1999-2014 using AQR Factors) Intercept 0.065 MKTRF 1.069 SMB 0.865 HML 0.333 UMD 0.116 QMJ 0.199 This guy looks interesting. Does this include emerging markets? Looks like the iSCV option people have been gushing about wanting for years. Internatio...
by grap0013
Mon Apr 27, 2015 11:58 am
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 130
Views: 12611

Re: PXSV has changed indexes

FWIW, I know Arnott called the 2009 annual rebalance In March "lucky" but looking over year-to-year returns they seem to get "lucky" every 5-6 years and have outsized performance relative to classic SCV strategies. I wouldn't expect bonus alpha to show up every year just like I w...
by grap0013
Mon Apr 27, 2015 9:07 am
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 130
Views: 12611

Re: PXSV has changed indexes

I just changed back to PRFZ. I held it previously to PXSV in my Roth IRA. Dance with the girl you came with. Longterm backtests shows it outperformed VBR by about 100 basis points if I remember correctly even with higher fees. My spouse uses VSIAX in her 401K so I'm also diversifying my factor expos...
by grap0013
Fri Apr 24, 2015 11:17 am
Forum: Investing - Theory, News & General
Topic: International Stock Poll: Emerging vs Developed Ratio
Replies: 55
Views: 3049

Re: International Stock Poll: Emerging vs Developed Ratio

MindBogler wrote:50-50 because it is simple.


+1

Me too.
by grap0013
Fri Apr 24, 2015 7:41 am
Forum: Investing - Theory, News & General
Topic: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40]
Replies: 232
Views: 24611

Re: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40

I've never understood the "taking money to your grave" problem. It's not like they're going to liquidate your portfolio and stuff your casket full of Benjamins. :happy More seriously, if you're planning to give away a significant amount of money, there's no taking money to your grave prob...
by grap0013
Thu Apr 23, 2015 11:55 am
Forum: Investing - Theory, News & General
Topic: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40]
Replies: 232
Views: 24611

Re: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40

Investing is incredibly simple. Save enough to retire a bit early given 0% real returns. If returns are worse than that, work until normal retirement age. If returns are higher than that, do something fun with the money. Who needs expected returns? :D Is the smiley face for the whole post or just t...
by grap0013
Wed Apr 22, 2015 7:31 am
Forum: Investing - Theory, News & General
Topic: David Booth interviews Eugene Fama
Replies: 11
Views: 1951

Re: David Booth interviews Eugene Fama

Very interesting. I get the impression that most finance academics advise total market funds being good for the masses, but most of them actually invest their own money tilting to small, value, profitability, and momentum. It's the old, "do as I say, not as I do." I guess I have to agree a...
by grap0013
Fri Apr 17, 2015 5:56 pm
Forum: Investing - Theory, News & General
Topic: Fact, Fiction, and Value Investing - Asness/AQR
Replies: 9
Views: 1291

Re: Fact, Fiction, and Value Investing - Asness/AQR

Thanks for sharing! It's 35 pages. "Fact: Value can be measured in many ways, and is in fact best measured by a composite of many variables." My takeaway message: multiple value metrics are better than 1. Probably helps tracking error too as different value metrics may have long periods of...
by grap0013
Fri Apr 17, 2015 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Can't Just Do Nothing
Replies: 45
Views: 6637

Re: Can't Just Do Nothing

It all sounds a little schemey to me. I guess if it's a hobby it can't hurt too much. I bet your dollars per hour is not very good and does not even come close to your day job. Have you calculated this in an honest way? What's the annual gross on these side gigs? If it's about making more money.... ...
by grap0013
Wed Apr 15, 2015 9:09 pm
Forum: Investing - Theory, News & General
Topic: RBD in Emerging Markets Brewing
Replies: 41
Views: 4573

Re: RBD in Emerging Markets Brewing

PXH today: +1.79%
VEIEX today: +0.47%

PXH 1 month: +15.06%
VEIEX 1 month: +11.58%

Emerging markets are more interesting the past few weeks. Pretty good variation in returns between funds even on a daily basis.

Has EM value turned the corner?
by grap0013
Mon Apr 13, 2015 8:31 pm
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 130
Views: 12611

Re: PXSV has changed indexes

This change suggests to me that this management is primarily in the business of making money for themselves, rather than looking out for the long term interests of their clients. Hmm...where have I heard that before? Ah, yes, the Forum. Garland Whizzer Very true. I bet some guy over at Powershares ...
by grap0013
Mon Apr 13, 2015 10:11 am
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 130
Views: 12611

Re: PXSV has changed indexes

^ The crickets tell me negatory. I did receive my notification about PXSV in the mail though. No new info. in the pamphlet.
by grap0013
Sun Apr 12, 2015 6:37 am
Forum: Investing - Theory, News & General
Topic: MSCI Diversified Multi-Factor Index
Replies: 36
Views: 4225

Re: MSCI Diversified Multi-Factor Index

^ BOSVX ? Also, Robert seems to think QSMLX has a trading impact cost problem to the tune of 2.4% a year based on AQR's estimates. However, so far the fund has only a -1% alpha, 3/4 of which is due to the ER. So overall I'm still not sure what to think of the AQR funds....Fantastic in theory BUT ve...
by grap0013
Sun Apr 12, 2015 6:23 am
Forum: Personal Finance (Not Investing)
Topic: Household Gross Income Poll
Replies: 134
Views: 13532

Re: Household Gross Income Poll

27% of bogleheads make more than 300K! I think we need to strive harder to not make new posters feel relatively poor. Easy to say to max out all tax deferred accounts when making 350K vs. 50K. I think the focus should be more on saving 15-20% rather than "checking all the boxes" by maxing ...
by grap0013
Sat Apr 11, 2015 6:06 am
Forum: Investing - Theory, News & General
Topic: My first quarter review of 2015's sure things
Replies: 12
Views: 3165

Re: My first quarter review of 2015's sure things

I think I can do better than the consensus sure things by using math and logic: Gold historically has matched inflation, inflation is low so too should be gold returns. Small caps have a better than 50:50 shot at greater returns than large caps. If I'm going to take a stance it will be that small ca...

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