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Re: Honda fit vs VW GTI

Both great cars but there will be zero times when you are driving the GTI and wishing you had a Fit. The opposite won't be true. The GTI can do everything a Fit can do at the expense of a bit of gas mileage and a bit of reliability. But the GTI still gets very good mileage and its reliability is not...
by matjen
Sun Mar 01, 2015 12:52 pm
 
Forum: Personal Consumer Issues
Topic: Honda fit vs VW GTI
Replies: 30
Views: 1226

Re: Past, present, and future of Berkshire - Annual letter

Invest like Warren. Buffett's Alpha http://www.econ.yale.edu/~af227/pdf/Buffett%27s%20Alpha%20-%20Frazzini,%20Kabiller%20and%20Pedersen.pdf Berkshire Hathaway has realized a Sharpe ratio of 0.76, higher than any other stock or mutual fund with a history of more than 30 years, and Berkshire has a sig...
by matjen
Sat Feb 28, 2015 6:45 pm
 
Forum: Investing - Theory, News & General
Topic: Past, present, and future of Berkshire - Annual letter
Replies: 29
Views: 2228

Re: "2015 Annual Letter by Scott Burns and Kennon Grose"

Amen on the REITS point. I personally got caught out by selling all my REITS (other than what is naturally in VTI and VXUS) in two parts over the past 18 months in order to increase my fixed income percentage and to buy a slice of AQR's QSPIX. I had all the correct reasons in the world but none of t...
by matjen
Sat Feb 28, 2015 1:17 pm
 
Forum: Investing - Theory, News & General
Topic: "2015 Annual Letter by Scott Burns and Kennon Grose"
Replies: 8
Views: 1088

BEST Life Insurance Contract of All Time!

HOLY SMOKES, and here I thought my mother's variable annuity with TIAA-CREF that includes a 3% return fixed account that allows money to be withdrawn twice a year (at our discretion) and no requirement to annuitize until age 90 was a deal. This is frankly unbelievable. "The company was L’Abeill...
by matjen
Fri Feb 27, 2015 11:09 am
 
Forum: Investing - Theory, News & General
Topic: BEST Life Insurance Contract of All Time!
Replies: 0
Views: 368

Re: Luxury Car

I love hot hatches - they're the perfect all-in-one car for anyone who enjoys driving and can't justify a dedicated toy. The Focus RS is one of my 'might actually be able to afford one day' dream cars. I do find myself worrying a bit about safety concerns with driving an expensive/flashy car. Worki...
by matjen
Tue Feb 24, 2015 10:47 am
 
Forum: Personal Consumer Issues
Topic: Luxury Car
Replies: 81
Views: 5427

Cliff Asness on Ritholtz's Masters in Business

Cliff Asness from AQR has just appeared on Barry Ritholtz's Master in Business series. I haven't listened yet but I am sure it is interesting. Wanted to bring it to the Bogleheads' attention. http://www.ritholtz.com/blog/2015/02/mib-cliff-asness/?utm_source=dlvr.it&utm_medium=twitter http://www....
by matjen
Sat Feb 21, 2015 10:13 am
 
Forum: Investing - Theory, News & General
Topic: Cliff Asness on Ritholtz's Masters in Business
Replies: 2
Views: 572

Re: Read WSJ every day ?

I also email links to my kids for various articles that they will appreciate Those links probably won't work unless they are subscribers. Incorrect. The WSJ wants you to share its content in that fashion. They used to create a link that would expire after 72 hours or something. Not sure if there is...
by matjen
Sat Feb 21, 2015 9:37 am
 
Forum: Personal Consumer Issues
Topic: Read WSJ every day ?
Replies: 86
Views: 4967

Re: Read WSJ every day ?

My daily read is WSJ for business news, love the weekend edition and Dan Neil car reviews, though skip the editorial section, so ideologically slanted becomes an insult to intelligence, NYT for all the news that's fit to print, including thoughtful editorials, Bloomberg mobile for breaking business...
by matjen
Sat Feb 21, 2015 9:15 am
 
Forum: Personal Consumer Issues
Topic: Read WSJ every day ?
Replies: 86
Views: 4967

Re: "The Education of a Value Investor"

For those interested in Spier and Pabrai, I just came across a very good website called 5 Good Questions that has lengthy interviews with finance pros. http://fivegoodquestions.co/about Here are the links to a dual interview with them: http://fivegoodquestions.co/season-1/s1e8 http://fivegoodquestio...
by matjen
Thu Feb 19, 2015 1:24 pm
 
Forum: Investing - Theory, News & General
Topic: "The Education of a Value Investor"
Replies: 29
Views: 3803

Re: Read WSJ every day ?

I read it everyday and have for probably 20 years. It leans a bit right at the editorial page just as the NYT leans left. Together they are probably the 2 papers to read on a national level.
by matjen
Thu Feb 19, 2015 8:09 am
 
Forum: Personal Consumer Issues
Topic: Read WSJ every day ?
Replies: 86
Views: 4967

Re: An alternative to alternative investments [QSPIX]

. Of the four 'styles' in the style premium fund (value, momentum, defensive, carry), 'carry' correlations with the market seem to increase at the wrong time. For example - see Figure 2 at the end of this paper http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2298565 , and here is an extract from...
by matjen
Wed Feb 18, 2015 8:01 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: Does anyone like the new Toyota/Lexus grilles?

I really like the Lexus grills...especially the mesh sport lines. I find the Camry grill ugly.
by matjen
Mon Feb 16, 2015 11:14 pm
 
Forum: Personal Consumer Issues
Topic: Does anyone like the new Toyota/Lexus grilles?
Replies: 57
Views: 3226

Re: SIGN PETITION FOR Jack Bogle's Presidential Medal of Fre

Signed awhile ago. Jack Bogle deserves it.
by matjen
Mon Feb 16, 2015 11:01 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: SIGN PETITION FOR Jack Bogle's Presidential Medal of Freedom
Replies: 165
Views: 9199

Re: Tesla S

"and have the most satisfying car owning experience ever" And then there is Edmunds and Consumer Reports. http://www.edmunds.com/tesla/model-s/2013/long-term-road-test/wrap-up.html Bottom Line: The Model S is a fast, comfortable and technologically brilliant luxury sedan, but numerous pro...
by matjen
Mon Feb 16, 2015 6:50 pm
 
Forum: Personal Consumer Issues
Topic: Tesla S
Replies: 610
Views: 73463

Re: "The Education of a Value Investor"

. What continues to amaze me is the power of an index approach (across any market segment). Guy Spier outlines the rigor of his investment process, which is significant, involving talking with some of the best investors in the world about investment ideas, checklists, behavioral work arounds etc. I...
by matjen
Sun Feb 15, 2015 6:12 pm
 
Forum: Investing - Theory, News & General
Topic: "The Education of a Value Investor"
Replies: 29
Views: 3803

Re: Time to finally purchase nice bedding - thoughts?

Check out some of the new premium online retailers for bedding. parachute is a good one. http://www.parachutehome.com/
by matjen
Fri Feb 13, 2015 6:15 pm
 
Forum: Personal Consumer Issues
Topic: Time to finally purchase nice bedding - thoughts?
Replies: 25
Views: 2086

Re: Buffett/Hedge Fund Bet - Protege Partners' Excuses!

So the Fund of funds that made the (so far and most likely permanently) ill fated million dollar bet with Warren Buffett has come out with a letter. For all of you who like to spot goal post moving, whining, and excuses...here is the letter and an apologetic take on it from a Yahoo finance contribu...
by matjen
Thu Feb 12, 2015 5:05 pm
 
Forum: Investing - Theory, News & General
Topic: Buffett/Hedge Fund Bet - Protege Partners' Excuses!
Replies: 34
Views: 2514

Re: Your Future According to Yale Star Robert J. Shiller

^^^^^+100

Think how much something like a cell phone or a smart phone has done for billions of people around the world. Many who live in countries that have very poor wiring infrastructure. Seems to me this is much more important than a moon shot.
by matjen
Thu Feb 12, 2015 2:04 pm
 
Forum: Investing - Theory, News & General
Topic: Your Future According to Yale Star Robert J. Shiller
Replies: 86
Views: 10154

Buffett/Hedge Fund Bet - Protege Partners' Excuses!

So the Fund of funds that made the (so far and most likely permanently) ill fated million dollar bet with Warren Buffett has come out with a letter. For all of you who like to spot goal post moving, whining, and excuses...here is the letter and an apologetic take on it from a Yahoo finance contribut...
by matjen
Thu Feb 12, 2015 1:54 pm
 
Forum: Investing - Theory, News & General
Topic: Buffett/Hedge Fund Bet - Protege Partners' Excuses!
Replies: 34
Views: 2514

Re: How do slice and dicers rebalance?

I rebalance/adjust AA glide path with new money. Monthly 401(k) contributions and dividends. Once a year I take a closer look to make any larger adjustments.
by matjen
Wed Feb 11, 2015 8:46 am
 
Forum: Investing - Theory, News & General
Topic: How do slice and dicers rebalance?
Replies: 14
Views: 688

Solin's Overview of Larry Swedroe's New Book

Here is a quick review/overview of Larry Swedroe's new book. IT is from Dan Solin who also works at BAM so take that into consideration. Regardless, a decent overview. "Who are the winners? They are mainly actively managed funds, which are often able to generate alpha, before costs. However, wh...
by matjen
Wed Feb 11, 2015 8:40 am
 
Forum: Investing - Theory, News & General
Topic: Solin's Overview of Larry Swedroe's New Book
Replies: 0
Views: 387

Re: Bogleheads 2015 Hedge Fund Contest

Scientific answer: Ginsberg's theorem, part 3. Musical answer: Don Henley 1977, final line. I'm gonna guess you meant to put in "Hotel California" somewhere in there... :happy "Relax," said the night man, "We are programmed to receive You can check out any time you like but...
by matjen
Tue Feb 10, 2015 7:36 am
 
Forum: Investing - Theory, News & General
Topic: Bogleheads 2015 Hedge Fund Contest
Replies: 126
Views: 11362

WSJ - Simple, Bedrock Rules on Personal Finance

A good list from this weekend's WSJ. I'm a subscriber so my link may not work for all but I'm sure you can back door it via a Google search. "Smart money moves aren’t more complicated than you think. They’re simpler. Cut through all the jargon and pontificating and technical stuff, and everythi...
by matjen
Sun Feb 08, 2015 9:11 am
 
Forum: Investing - Theory, News & General
Topic: WSJ - Simple, Bedrock Rules on Personal Finance
Replies: 11
Views: 2135

Re: Your Future According to Yale Star Robert J. Shiller

Perfect summary Lazyday and great post Nisi. The inequality issue and the rise of computers/robots from just manufacturing and deep into the middle/upper middle class has been a big topic on Econtalk.org the past year or so. I certainly feel it in my industry but then I remain an optimist and often ...
by matjen
Sun Feb 08, 2015 8:41 am
 
Forum: Investing - Theory, News & General
Topic: Your Future According to Yale Star Robert J. Shiller
Replies: 86
Views: 10154

Re: Vanguard Total Bond - Not reccomended by Swedroe??

If you aren't afraid of ETFs then I would suggest Vanguard Intermediate-Term Govt Bd ETF VGIT. 5 year duration. Almost all treasuries. 12 basis points.

http://etfs.morningstar.com/quote?t=vgit
by matjen
Sat Feb 07, 2015 10:36 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard Total Bond - Not reccomended by Swedroe??
Replies: 23
Views: 3763

Re: Asness and Bogle on investment strategy, pensions

An oldie but a goodie...thanks for posting.
by matjen
Wed Feb 04, 2015 7:32 pm
 
Forum: Investing - Theory, News & General
Topic: Asness and Bogle on investment strategy, pensions
Replies: 4
Views: 964

Re: 2015 Update on Buffett's Hedge Fund Bet

I think the most impressive thing about this is the margin of difference currently and that the bet period included an enormous bear market. That should have greatly favored the hedge funds. They did better but nowhere near well enough to make up for the rebound over the last several years.
by matjen
Tue Feb 03, 2015 11:32 pm
 
Forum: Investing - Theory, News & General
Topic: 2015 Update on Buffett's Hedge Fund Bet
Replies: 18
Views: 2007

Re: Thoughts on DFA equities?

I think the biggest advantage for DFA these days is that their funds most easily allow one to practice factor investing without having to be really on top of all the rebalancing, and multiple funds, etc. This is something the three-funders always like to harp on...complexity. Although having 8 funds...
by matjen
Sun Feb 01, 2015 1:50 pm
 
Forum: Investing - Theory, News & General
Topic: Thoughts on DFA equities?
Replies: 19
Views: 1797

Re: An alternative to alternative investments [QSPIX]

45% of VTI at 0.05 45% of VXUS at 0.14 10% of QSPIX at 2.11 Wgt average expense ratio of 0.30 20% VOE.....0.1 20% MTUM..0.15 10% QUAL...0.15 15% PDN.....0.5 15% IMTM...0.3 7% IQLT....0.3 13% DGS....0.63 Wgt average expense ratio of .29 (roughly same) If those have the same factor loads and the same...
by matjen
Tue Jan 27, 2015 7:14 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: Ketogenic Diet anyone?

I believe the ketogenic diet embodies the boglehead way of thinking within the nutrition realm. This method of eating spans millions of years. Yet it blatantly goes against the common recommendations put out of national organizations. I truly believe that in a few years this diet will become more a...
by matjen
Tue Jan 27, 2015 10:30 am
 
Forum: Personal Consumer Issues
Topic: Ketogenic Diet anyone?
Replies: 22
Views: 1196

Re: Ketogenic Diet anyone?

This blog would be of interest to those who are interested in learning about low carb/ketones, et. Peter Attia M.D. is very involved and has some amazing qualifications.

http://eatingacademy.com/dr-peter-attia
by matjen
Tue Jan 27, 2015 10:22 am
 
Forum: Personal Consumer Issues
Topic: Ketogenic Diet anyone?
Replies: 22
Views: 1196

Re: Asness - The Small-Firm Effect Is Real, and It’s Spectac

Cliff thank you for chiming in and rounding out your blog and paper. Greatly appreciated! Like I can help myself :) Thanks all. -- C That's what I admire about you. You are a scrappy fellow who will defend his opinion to anyone...even us retail investors. Well done! I know you may shy away from a p...
by matjen
Mon Jan 26, 2015 8:52 pm
 
Forum: Investing - Theory, News & General
Topic: Asness - The Small-Firm Effect Is Real, and It’s Spectacular
Replies: 62
Views: 6642

Re: Asness - The Small-Firm Effect Is Real, and It’s Spectac

Cliff thank you for chiming in and rounding out your blog and paper. Greatly appreciated!
by matjen
Mon Jan 26, 2015 8:39 pm
 
Forum: Investing - Theory, News & General
Topic: Asness - The Small-Firm Effect Is Real, and It’s Spectacular
Replies: 62
Views: 6642

Re: What Movie Have You Recently Watched?

Hobbit Part 3. I really have severe reservations about the whole trilogy. It should never have been a trilogy in the first place. It's difficult to swallow the changes from the book for someone who owns a copy of the 2nd ed. of the original. Nonetheless the visuals based on the work of Alan Lee mad...
by matjen
Sun Jan 25, 2015 12:03 pm
 
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 573
Views: 69818

Re: GAA ETF - a Global Asset Allocation

Here is a brief write up on GAA. Cambria Global Asset Allocation ETF http://www.thinkadvisor.com/2015/01/22/fabers-no-fee-etf-and-why-asset-allocation-doesnt "That is to say, the fund, per its name, invests in a wide gamut of assets including domestic and foreign stocks, bonds, real estate, com...
by matjen
Sun Jan 25, 2015 11:54 am
 
Forum: Investing - Theory, News & General
Topic: GAA ETF - a Global Asset Allocation
Replies: 17
Views: 1367

Asness - The Small-Firm Effect Is Real, and It’s Spectacular

Another Cliff's Perspective for the forum to digest. https://www.aqr.com/cliffs-perspective/the-small-firm-effect-is-real-and-its-spectacular "Does size matter? Certainly in financial markets, many researchers have questioned whether it does. In a new paper, we resurrect the size premium and re...
by matjen
Fri Jan 23, 2015 12:57 pm
 
Forum: Investing - Theory, News & General
Topic: Asness - The Small-Firm Effect Is Real, and It’s Spectacular
Replies: 62
Views: 6642

Re: An alternative to alternative investments [QSPIX]

Any idea if fees were accounted for in that backrest? Directly from the second link: "The returns are then discounted by conservative estimates of transaction costs and the fund’s expense ratio. This adjusted data, in my opinion, gives us the best insight about what to expect going forward.&qu...
by matjen
Wed Jan 21, 2015 10:11 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: An alternative to alternative investments [QSPIX]

I have read this thread with some interest since it seems to represent a paradigm shift from normal BH thinking. I have looked at the advisor website and the fund information. Is it correct to somewhat simply state that this fund purports to hedge risk and try to maximize return across a broad swat...
by matjen
Mon Jan 19, 2015 1:02 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: An alternative to alternative investments [QSPIX]

I agree with gw's comment above. Moreover, folks probably ought to be thinking in terms of an ER of 2.11%, not 1.5%. In just over 3 months, ie. this April 30th, the 1.50% "Expense Cap" expires and net expenses, currently calculated at 2.11%, should prevail, assuming I'm interpreting the f...
by matjen
Mon Jan 19, 2015 12:56 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: Larry's New Book On Sale

I just ordered it and looking forward to reading it soon.
by matjen
Sat Jan 17, 2015 10:04 am
 
Forum: Investing - Theory, News & General
Topic: Larry's New Book On Sale
Replies: 10
Views: 1803

Re: Tobias Moskowitz on value and momentum

Thank you for posting the video Robert. I had not seen it before. Good stuff.
by matjen
Sat Jan 17, 2015 9:32 am
 
Forum: Investing - Theory, News & General
Topic: Tobias Moskowitz on value and momentum
Replies: 19
Views: 2156

DFA's David Booth on Bloomberg - Video

I recently stumbled upon this brief interview of David Booth from December. Pretty good stuff on indexing, efficient markets, liability matching, investing philosophy, etc.

http://www.bloomberg.com/video/index-in ... UEoaQ.html
by matjen
Fri Jan 16, 2015 12:10 pm
 
Forum: Investing - Theory, News & General
Topic: DFA's David Booth on Bloomberg - Video
Replies: 0
Views: 189

Re: An alternative to alternative investments [QSPIX]

^Good points Robert. It is better to have negative correlation than 0 correlation. However, being a 100% equity guy I have not added any bonds as they lower expected return as one incrementally adds them to a portfolio. That is, one pays the price for safety. QSPIX is interesting because it looks l...
by matjen
Thu Jan 15, 2015 6:53 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: An alternative to alternative investments [QSPIX]

Another interesting point to consider when comparing QSPIX to a large beta fund like VTI is that VTI has sort of killed it since QSPIX started (though not as much as QSPIX :D ) I took gold off and added Total World Stock VT to the list rather than just US Total...now take a look at that comparison. ...
by matjen
Wed Jan 14, 2015 3:04 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: An alternative to alternative investments [QSPIX]

matjen wrote: What exactly does QSPIX have to do to "show" you? As Robert pointed out, comparing it to VTI or VXUS is a straw man. Sure is doing well compared to what Morningstar believes are its bogeys and compared to Vanguard's Market Neutral Fund. Also, when everything else went down i...
by matjen
Wed Jan 14, 2015 9:05 am
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 307
Views: 35963

Re: We miss Larry Swedroe

I am certainly a Swedroe fan and although I can find his blog posts/articles easily and have a few of his books, I really enjoy when he engages on the forum and look forward to his return. Same goes for Rick and the others.
by matjen
Sun Jan 11, 2015 11:02 pm
 
Forum: Investing - Theory, News & General
Topic: We miss Larry Swedroe
Replies: 28
Views: 7490

Re: What Book Are You Currently Reading? Part VI

I'm reading "The Moral Case for Fossil Fuels" by Alex Epstein. A good overview: http://wmbriggs.com/blog/?p=13701

Also, listening to the first Jack Reacher book in my car. "Killing Floor" by Lee Child.
by matjen
Sat Jan 10, 2015 3:28 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 506
Views: 67984

Re: WHY is retirement enjoyable / something to look forward

I fear being massively bored, and I love solving problems, and quite frankly, the level of problems one has to solve as retiree or small company owner isn't comparable to being in charge of 100+ people and running a division of a megacorp. Fear of boredom is not an attribute of a sophisticated mind...
by matjen
Sat Jan 10, 2015 10:12 am
 
Forum: Personal Consumer Issues
Topic: WHY is retirement enjoyable / something to look forward to?
Replies: 237
Views: 20309
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