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Re: An alternative to alternative investments [QSPIX]

This makes sense to me, Larry. But if it boils down to subjective belief, then you could potentially say the same about any mutual fund with a high ER if one believes that the fund's manager is good enough, no? You are clearly far more knowledgeable than the average investor and your subjective fee...
by matjen
Tue Nov 25, 2014 7:01 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 103
Views: 6405

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 matjen
Sun Nov 23, 2014 8:10 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 103
Views: 6405

Re: An alternative to alternative investments [QSPIX]

Biggest issue for us ordinary DIY Bogleheads is the $5 million minimum investment. Incorrect. On page one of this thread Tramper Al actually placed an order at Fidelity (see his post below). Also, if you have any type of adviser relationship (even low cost/virtual) then you can get access to this f...
by matjen
Sun Nov 23, 2014 5:21 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 103
Views: 6405

Re: An alternative to alternative investments [QSPIX]

Disclosure: I have a significant personal investment in the fund and it was approved by the investment policy committee of my firm, Buckingham, as a 401(k) plan option. Are you sure Larry its not typo, 3% is considered noise and not significant personal investment. Fair point I suppose. I think wha...
by matjen
Thu Nov 20, 2014 2:45 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 103
Views: 6405

Re: An alternative to alternative investments [QSPIX]

Thanks Larry. Great article on my favorite fund to follow! For those interested, here is some more info on the fund/investing strategy: Antii Ilmanen presentation: Beyond the Equity Premium http://video.cfainstitute.org/services/player/bcpid3577743869001?bckey=AQ~~,AAABE5oc3_E~,Leu10fA0D1sc9Dh9wz3oy...
by matjen
Wed Nov 19, 2014 11:22 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 103
Views: 6405

Re: Paid off our Mortgage this evening!

Congratulations!!! :sharebeer
by matjen
Mon Nov 17, 2014 8:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off our Mortgage this evening!
Replies: 75
Views: 7526

Re: Uber Car and the real cost of driving

Thought this would interest many on this thread. I think the golden era of Uber/Lyft drivers making $ may have passed but there are still people doing this part time effectively. All sorts of strategy goes into it and there are now apps that do business intelligence on your driving sessions. http://...
by matjen
Thu Nov 13, 2014 11:56 am
 
Forum: Personal Consumer Issues
Topic: Uber Car and the real cost of driving
Replies: 32
Views: 2773

Is active fund management an industrial sized rip off?

I thought this was a great article regarding the dangers of active management. I especially like the part where it is compared to the Confidence Con. In addition there is a link to one of the Sensible Investing videos which have been mentioned on this forum on multiple occasions. http://monevator.co...
by matjen
Sat Nov 08, 2014 9:09 am
 
Forum: Investing - Theory, News & General
Topic: Is active fund management an industrial sized rip off?
Replies: 4
Views: 735

Re: 22, I want to be rich, looking for a high reward fund

I can't believe others have left out this great piece of advice...marry a rich girl/partner! Great way to get rich quick assuming you are marrying for the right reasons (e.g. not to be rich).
by matjen
Thu Nov 06, 2014 6:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: 22, I want to be rich, looking for a high reward fund
Replies: 67
Views: 6153

Re: Explaining muni bond spreads

Let me talk my book a bit and remind Bogleheads that Baird Intermediate Muni Bond Institutional BMBIX is an alternative muni fund to the Vanguard offerings and I would think splits the difference between Larry's points and Rick's points. I also believe it is BAM approved (according to Jared Kizer......
by matjen
Tue Nov 04, 2014 12:39 pm
 
Forum: Investing - Theory, News & General
Topic: Explaining muni bond spreads
Replies: 40
Views: 3491

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? This isn't factor tilts but it is style percentages so may be helpful to you. https://funds.aqr.com/our-funds...
by matjen
Sun Nov 02, 2014 10:45 am
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5969

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

Well after October AQR's Style Premia Fund QSPIX is now up YTD compared to Vanguard's Market Neutral VMNFX. It is also up since date of inception which is the better measure it seems to me. Incredibly short time frames of course but more interesting than looking at Total Stock Mkt compared to say S&...
by matjen
Sat Nov 01, 2014 7:49 am
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5969

Re: Intermediate Bond ETF's

iShares National AMT-Free Muni Bond MUB
iShares ST National AMTFree Muni Bnd SUB
by matjen
Wed Oct 29, 2014 3:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Intermediate Bond ETF's
Replies: 9
Views: 828

Barron's on Schwab [CEO prefers Indexing for 401ks]

The CEO of Schwab seems to be a true Boglehead. http://online.barrons.com/articles/inside-schwab-1414216834?tesla=y&mod=djemb_mag_h (subscription probably needed to access from this link) "After the great migration from defined-benefit to defined-contribution plans ushered in by 401(k) plan...
by matjen
Sat Oct 25, 2014 8:10 am
 
Forum: Investing - Theory, News & General
Topic: Barron's on Schwab [CEO prefers Indexing for 401ks]
Replies: 16
Views: 2222

Re: Tesla S

There are two types of folks: one who own Tesla and have the most satisfying car owning experience ever. Where car gets newer by day, spend no time adding energy to it, and enjoy the ride. Then there are people who have not owned the car and think that this car can never suit them and how can folks...
by matjen
Sat Oct 25, 2014 7:50 am
 
Forum: Personal Consumer Issues
Topic: Tesla S
Replies: 556
Views: 63586

Re: Tesla S

I really have no dispute with the posts directly above. I just sometimes cringe at the deification of the car and/or experience. If someone wants to tell me it is the best thing since sliced bread I am hard pressed to disagree when it comes to incredibly important things like speed, safety, space/ut...
by matjen
Thu Oct 23, 2014 8:54 am
 
Forum: Personal Consumer Issues
Topic: Tesla S
Replies: 556
Views: 63586

Re: Tesla S

"so I found myself driving for 1.5 to 2.5 hours then stopping for 45 minutes to an hour to charge the car." This actually sound miserable to me. I would think the newness of the car/toy (meant in the best sense of the word) and your first time being in those particular locations added quit...
by matjen
Thu Oct 23, 2014 8:02 am
 
Forum: Personal Consumer Issues
Topic: Tesla S
Replies: 556
Views: 63586

Re: Reporter doing story on PIMCO in 401k

I actually spoke to her. I have Pimco as my only intermediate term bond fund option. I have a high yield option, a crappy stable value option and then also the T. Row Price Spectrum which they call a multi-sector bond option. Morningstar gives it a good rating FWIW but the fact of the matter is that...
by matjen
Wed Oct 22, 2014 8:34 am
 
Forum: Investing - Theory, News & General
Topic: Reporter doing story on PIMCO in 401k
Replies: 8
Views: 1143

New Paper ". . . and the Cross-Section of Expected Returns"

I don't have access to the full paper but others might and it sounds like it should interest those doubting any future factors or probably and recent ones or perhaps any factors at all... http://www.nber.org/papers/w20592?utm_campaign=ntw&utm_medium=email&utm_source=ntw Hundreds of papers an...
by matjen
Mon Oct 20, 2014 8:06 am
 
Forum: Investing - Theory, News & General
Topic: New Paper ". . . and the Cross-Section of Expected Returns"
Replies: 8
Views: 735

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

QSPIX down 2.1% today. I thought it was supposed to have about half the volatility of equities. Wonder what gives? yep. YTD it is up 1.78%. vs the vanguard market neutral fund is up 2.36%. this is rather surprising given that the vanguard fund just does long/short equities whereas the aqr fund is s...
by matjen
Sat Oct 18, 2014 9:53 am
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5969

Re: Masters in business interview I did with Barry Ritholtz

Larry, I enjoy and appreciate your contributions to this site and I really enjoyed the interview and have read most of your books. One question I have concerns your statements about RAFI in the interview. The statement concerning the RAFI returns being explained by French Fama. Cliff Asness spent s...
by matjen
Wed Oct 15, 2014 11:08 am
 
Forum: Investing - Theory, News & General
Topic: Masters in business interview I did with Barry Ritholtz
Replies: 13
Views: 1261

Re: Masters in business interview I did with Barry Ritholtz

Great interview Larry. Would encourage those interested to listen to the long version. Lots of good stuff in the extra period.
by matjen
Sun Oct 12, 2014 12:35 pm
 
Forum: Investing - Theory, News & General
Topic: Masters in business interview I did with Barry Ritholtz
Replies: 13
Views: 1261

Re: Spreadsheet for Rebalancing Bands

A forum member asked me about my own rebalancing spreadsheet. I made a generic version and put it on Google sheets for anyone who'd like to have a look: Rebalancing Bands template I also linked to it on the wiki. I hope someone might find it useful. There are other good spreadsheets on the wiki pag...
by matjen
Sat Oct 11, 2014 2:00 pm
 
Forum: Investing - Theory, News & General
Topic: Spreadsheet for Rebalancing Bands
Replies: 18
Views: 1986

Re: Recommend a NAS HD

Apparently not everyone is as happy as you are: http://www.amazon.com/Cloud-6TB-Personal-Storage-WDBCTL0060HWT-NESN/product-reviews/B00KU686L4/ref=cm_cr_dp_qt_hist_one?ie=UTF8&filterBy=addOneStar&showViewpoints=0 But I'm sure this is like all the other hard drive products from all the hard ...
by matjen
Sat Oct 11, 2014 11:47 am
 
Forum: Personal Consumer Issues
Topic: Recommend a NAS HD
Replies: 17
Views: 843

Re: Recommend a NAS HD

I recently purchased a Western Digital MyCloud NAS and am quite happy. $150 for 2 TB http://www.amazon.com/Cloud-WDBCTL0020HWT-2TB-Personal-Storage/dp/B00EVVGAFI/ref=sr_1_1?ie=UTF8&qid=1413044250&sr=8-1&keywords=mycloud Review: http://www.cnet.com/products/wd-my-cloud-2-tb/ http://www.pc...
by matjen
Sat Oct 11, 2014 11:20 am
 
Forum: Personal Consumer Issues
Topic: Recommend a NAS HD
Replies: 17
Views: 843

Re: John Hussman, smart guy, should you listen to his foreca

You would have thought Hussman would have crushed it this week. I think he was up 11 bps.
by matjen
Fri Oct 10, 2014 5:29 pm
 
Forum: Investing - Theory, News & General
Topic: John Hussman, smart guy, should you listen to his forecasts
Replies: 76
Views: 8433

Re: Wine - how to keep it from not spoiling?

There are gadgets like vacuum pumps and gas canisters but I think the easiest and most effective method is to just re-cork the bottle and place in refrigerator standing up rather than on its side. If red, remove it 30 minutes before serving.
by matjen
Fri Oct 10, 2014 11:12 am
 
Forum: Personal Consumer Issues
Topic: Wine - how to keep it from not spoiling?
Replies: 57
Views: 3017

Which Factor has Outperformed in Dollar Bull Markets?

Interesting blog post for those looking at Momentum. It does have a market timing flavor of course but still interesting. "Momentum was the strongest-performing factor with a median annualized gain of 12.61%. Momentum rose in each occurrence. After a double take, momentum was even able to perfo...
by matjen
Fri Oct 10, 2014 7:27 am
 
Forum: Investing - Theory, News & General
Topic: Which Factor has Outperformed in Dollar Bull Markets?
Replies: 1
Views: 373

Re: Hold the Line

Thank you for the update. Much appreciated. :beer
by matjen
Fri Oct 10, 2014 7:22 am
 
Forum: Investing - Theory, News & General
Topic: Hold the Line
Replies: 11
Views: 1540

Morningstar: Doing the Rope-a-Dope

Doing the Rope-a-Dope: Active management has become investing’s punching bag. Can it survive the onslaught?

http://www.nxtbook.com/nxtbooks/morning ... ex.php#/14
by matjen
Thu Oct 09, 2014 10:08 am
 
Forum: Investing - Theory, News & General
Topic: Morningstar: Doing the Rope-a-Dope
Replies: 1
Views: 495

Re: tired of zero hedge, got an alt news site?

Here is a decent one stop shop: http://www.ceoexpress.com/default.asp

To the extent that anyone thinks the Daily Show (and a lesser extent Huffington) is news...I'm speechless.
by matjen
Wed Oct 08, 2014 12:37 pm
 
Forum: Personal Consumer Issues
Topic: tired of zero hedge, got an alt news site?
Replies: 34
Views: 3116

Re: Road trip to Chicago with kids- what to do/recommendatio

For food/entertainment that kids would like Ed Debevics is popular. http://www.eddebevics.com/

Also, Chicago deep dish pizza at Malnati's, Giordano's or Pizzeria Uno.
by matjen
Sat Oct 04, 2014 6:38 pm
 
Forum: Personal Consumer Issues
Topic: Road trip to Chicago with kids- what to do/recommendations?
Replies: 44
Views: 3143

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

So September was a rough month for most asset classes. Thought I would take a quick look and see how QSPIX did. I personally sold some bond funds and REITs to move a bit into this fund. With the enormous caveat that this is only one month I still wanted to take a look. My eyeball tells me that it c...
by matjen
Thu Oct 02, 2014 3:08 pm
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5969

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

JohnnyFive wrote:Fidelity showing the expense ratio as 211 basis points, not 150

https://fundresearch.fidelity.com/mutua ... /00203H420


Some places list it as 211 but it is 150. AQR has waived the fee to keep it at 150.
by matjen
Thu Oct 02, 2014 2:18 pm
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5969

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

So September was a rough month for most asset classes. Thought I would take a quick look and see how QSPIX did. I personally sold some bond funds and REITs to move a bit into this fund. With the enormous caveat that this is only one month I still wanted to take a look. My eyeball tells me that it ce...
by matjen
Thu Oct 02, 2014 11:00 am
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5969

Re: Portfolio tracking websites?

I don't really care to subscribe to anybody's website. You didn't have to do that at MSN until now, and I believe you have to do it at M* as well. What do you mean by "subscribe?" Morningstar is free for basic functionality but you do have to create login credentials I believe, etc. Even ...
by matjen
Wed Oct 01, 2014 12:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio tracking websites?
Replies: 6
Views: 467

Re: Portfolio tracking websites?

Morningstar
by matjen
Wed Oct 01, 2014 11:25 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio tracking websites?
Replies: 6
Views: 467

Iron Rules of Money

Another Morgan Housel/Motley Fool gem. "The first iron rule of money is that wealth is the stuff you don't see. It's the cars not purchased, the clothes not bought, the jewelry forgone. Money buys things, but wealth -- assets such as cash, stocks, bonds, in the bank, unspent -- buys freedom and...
by matjen
Wed Oct 01, 2014 8:24 am
 
Forum: Investing - Theory, News & General
Topic: Iron Rules of Money
Replies: 3
Views: 766

Re: EmergDoc has Surpassed 10,000 posts!

Congratulations EmergDoc and thank you for all your contributions both here and at WCI. :sharebeer
by matjen
Tue Sep 30, 2014 5:11 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: EmergDoc has Surpassed 10,000 posts!
Replies: 32
Views: 3269

Re: Will you invest in Bill Gross's new bond fund?

Pimco (PTTRX) is basically my only option for a bond fund in my 401(k). Till that changes I really have no option.
by matjen
Mon Sep 29, 2014 8:57 pm
 
Forum: Investing - Theory, News & General
Topic: Will you invest in Bill Gross's new bond fund?
Replies: 51
Views: 3002

Re: Interview I did with Michael Covel

Very nice interview Larry. Lots of good info. Thank you for sharing.
by matjen
Mon Sep 29, 2014 5:23 pm
 
Forum: Investing - Theory, News & General
Topic: Interview I did with Michael Covel
Replies: 11
Views: 1269

Bond King Gross to leave Pimco for Janus

Wow. This really surprised me. I literally had to stop for a second and make sure it wasn't April 1st. What a weird development. He literally starts Monday. I also read that Bill Gross is worth more personally than Janus Capital's market cap - $2.3B vs $2.1B http://www.ft.com/intl/fastft?post=212282...
by matjen
Fri Sep 26, 2014 7:46 am
 
Forum: Investing - Theory, News & General
Topic: Bill Gross moving from PIMCO to Janus, Monday
Replies: 113
Views: 10453

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

The Morningstar info got really weird with this fund all of a sudden. Agree with Larry.
by matjen
Thu Sep 25, 2014 5:07 pm
 
Forum: Investing - Theory, News & General
Topic: Illmanen and AQR style premium fund +interview I did
Replies: 70
Views: 5969

Re: Smartphone applications

Google Finance or Bloomberg.
by matjen
Thu Sep 25, 2014 2:13 pm
 
Forum: Personal Consumer Issues
Topic: Smartphone applications
Replies: 1
Views: 241

'Born in strife': Jack Bogle on Vanguard at 40

"Here's the memo Vanguard Group founder John Clifton "Jack" Bogle sent Vanguard Principal managers and 15+-year veteran employees to mark its 40th anniversary this morning under the title, "Vanguard Turns 40! Happy Birthday! And Thanks to our Crew!" http://www.philly.com/phi...
by matjen
Thu Sep 25, 2014 9:59 am
 
Forum: Investing - Theory, News & General
Topic: 'Born in strife': Jack Bogle on Vanguard at 40
Replies: 1
Views: 368

Re: Indoor rowing machine - worth it?

For those more interested in rowing, you may find this site and/or training program interesting. http://thepeteplan.wordpress.com/beginner-training/ "Indoor rowing training isn’t rocket science, though you might think so if you try to understand some of the training plans “on the market” for in...
by matjen
Thu Sep 25, 2014 8:26 am
 
Forum: Personal Consumer Issues
Topic: Indoor rowing machine - worth it?
Replies: 73
Views: 3739

Re: Indoor rowing machine - worth it?

^ +1 Of all the "machines" I think this is the best one-stop shop. It is the LifeStrategy of workouts. :o
by matjen
Wed Sep 24, 2014 10:01 am
 
Forum: Personal Consumer Issues
Topic: Indoor rowing machine - worth it?
Replies: 73
Views: 3739

Re: Hedge Funds & Diversification

assumer, Cliff Asness talks a bit about these exact topics in this video. On the whole, the hedge fund industry gets most of its returns from regular beta/equity exposure. However, there are probably certain types of hedge funds that would give a different type of exposure. http://www.bloomberg.com/...
by matjen
Tue Sep 23, 2014 11:42 am
 
Forum: Investing - Theory, News & General
Topic: Hedge Funds & Diversification
Replies: 14
Views: 649
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