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by matjen
Thu May 28, 2015 4:23 pm
Forum: Investing - Theory, News & General
Topic: Swedroe: Risk-Managed Momentum Outperforms
Replies: 6
Views: 347

Re: Swedroe: Risk-Managed Momentum Outperforms

Typical verb-tense disease. Instead of "Risk-Managed Momentum Outperforms," it should be "In backtesting, in the past, risk-managed momentum strategies would have outperformed." Instead of "virtually eliminates crashes," it should be "in backtesting, in the past, ...
by matjen
Thu May 28, 2015 2:37 pm
Forum: Investing - Theory, News & General
Topic: Swedroe: Risk-Managed Momentum Outperforms
Replies: 6
Views: 347

Swedroe: Risk-Managed Momentum Outperforms

I don't think Larry Swedroe has posted this yet so I thought I would since many on this forum pay attention to or own AQR funds/strategies. http://www.etf.com/sections/index-investor-corner/swedroe-risk-managed-momentum-outperforms?nopaging=1 Here are some sections that provide a flavor: "Momen...
by matjen
Wed May 27, 2015 4:49 pm
Forum: Investing - Help with Personal Investments
Topic: A Lesson [in Portfolio Simplicity]
Replies: 11
Views: 2070

Re: A Lesson

. Out of interest I just checked my portfolio performance since inception (at start of 2003) against the Vanguard lifestrategy growth funds. I have a 75:25 stock:bond portfolio with global small cap and value tilt. A combined 75:25 Vanguard Lifestrategy Growth:Moderate Growth mix provides a 75% sto...
by matjen
Wed May 27, 2015 8:51 am
Forum: Investing - Theory, News & General
Topic: Worried about longevity risk...this isn't good news
Replies: 13
Views: 1757

Re: Worried about longevity risk...this isn't good news

dodecahedron wrote:This seems non-problematic to me. Somebody who wants to annuitize $1M should probably spread it among multiple insurance companies anyway, just for their own protection.


Fair point.
by matjen
Wed May 27, 2015 8:40 am
Forum: Investing - Theory, News & General
Topic: Worried about longevity risk...this isn't good news
Replies: 13
Views: 1757

Worried about longevity risk...this isn't good news

http://www.insurance-journal.ca/2015/05/27/transamerica-will-no-longer-accept-spias-over-1-million/#.VWXH-izm524.twitter Especially if you are Canadian. --- Transamerica Life Canada has announced that, effective immediately, it will no longer accept Single Premium Immediate Annuity (SPIA) deposits o...
by matjen
Fri May 22, 2015 6:44 am
Forum: Investing - Theory, News & General
Topic: AQR's Cliff Asness: Guest appearance on WealthTrack
Replies: 36
Views: 2798

Re: AQR's Cliff Asness: Guest appearance on WealthTrack

I would also rephrase your last sentence. TIPS are an important component for many nearly everyone that should be highlighted as a tool for a retirees basic income floor. BobK Point taken. In your opinion who who would not fall into the "nearly everyone" grouping? My thoughts would be tho...
by matjen
Fri May 22, 2015 6:15 am
Forum: Investing - Theory, News & General
Topic: Not your father's Total Bond Market Fund anymore
Replies: 86
Views: 8856

Re: Not your father's Total Bond Market Fund anymore

've been giving the choice between Total Bond and Int Term Bond Indexes a good bit of thought as I prepare to invest my pension lump sum. The most important conclusion I've come to is that either one should more than adequately accomplish the objective of safety and stability in the bond portion of...
by matjen
Fri May 22, 2015 6:05 am
Forum: Investing - Theory, News & General
Topic: AQR's Cliff Asness: Guest appearance on WealthTrack
Replies: 36
Views: 2798

Re: AQR's Cliff Asness: Guest appearance on WealthTrack

Please, that is like being asked what to invest in for growth and talking about REITS, but leaving out equities, and then explaining that over sights happen when one only has 26 minutes. :D BobK Disagree, "most" commentators/pundits just refer to bonds generally and don't make the distinc...
by matjen
Thu May 21, 2015 9:10 am
Forum: Investing - Theory, News & General
Topic: AQR's Cliff Asness: Guest appearance on WealthTrack
Replies: 36
Views: 2798

Re: AQR's Cliff Asness: Guest appearance on WealthTrack

Saint Jack has a very similar view of the next 10 years. Here is a video where both go through their thoughts on the matter. Starting around say 3 minute mark.

http://www.bloomberg.com/news/videos/b/ ... f0a0d7a0ac
by matjen
Wed May 20, 2015 10:48 pm
Forum: Investing - Theory, News & General
Topic: AQR's Cliff Asness: Guest appearance on WealthTrack
Replies: 36
Views: 2798

Re: AQR's Cliff Asness: Guest appearance on WealthTrack

bobcat2 wrote:The last sentence of this first article is classic.
[OT link removed by admin LadyGeek]
BobK


[OT response removed by admin LadyGeek]
by matjen
Sun May 17, 2015 1:59 am
Forum: Investing - Theory, News & General
Topic: AQR's Cliff Asness: Guest appearance on WealthTrack
Replies: 36
Views: 2798

Re: AQR's Cliff Asness: Guest appearance on WealthTrack

Thank you for posting Rx. Cliff Asness is almost always a great interview and this is no exception. I admire how he always makes a point to highlight when he is talking his business and how he refuses to over promise or over simplify things.
by matjen
Sat May 16, 2015 11:36 am
Forum: Investing - Theory, News & General
Topic: Best Asset Allocation if you've "won the game"
Replies: 86
Views: 8508

Re: Best Asset Allocation if you've "won the game"

As Clive alluded too earlier in the thread, my vote would be to go with a "Larry Portfolio." Plenty of threads on it but I put together some notes on it for my own reference. This is probably cut and pasted from prior threads so I apologize for any plagiarism from other knowledgeable poste...
by matjen
Thu May 07, 2015 7:17 am
Forum: Personal Consumer Issues
Topic: Looking to Retire in Cleveland
Replies: 32
Views: 2497

Re: Looking to Retire in Cleveland

Cleveland? Have you thought of Amarillo, TX? ;-)

viewtopic.php?f=2&t=165185&newpost=2483397
by matjen
Wed May 06, 2015 8:06 am
Forum: Investing - Theory, News & General
Topic: part two of Facts and fiction on value investing bl
Replies: 70
Views: 4528

Re: part two of Facts and fiction on value investing bl

Tech companies will in the future dominate the stock market, and tech companies don't have to be growth companies. But a lot are in the growth bucket. Tech will take over as the most valuable sector. You will miss out on moves in this market. Especially mid and small cap companies that are bought b...
by matjen
Tue May 05, 2015 3:18 pm
Forum: Investing - Help with Personal Investments
Topic: Best Municipal Bond Options for Fidelity or Ameritrade
Replies: 10
Views: 782

Re: Best Municipal Bond Options for Fidelity or Ameritrade

The downside is that my very top choices in bond funds are not quite as optimal. IMO BMBIX is optimal if you have a heavy equity weighting. I'm in a similar situation and the Bond fund in my current 401(k) is far from optimal in that it holds plenty of corporates and actually was down in 2008-2009....
by matjen
Tue May 05, 2015 1:29 pm
Forum: Personal Consumer Issues
Topic: Wisconsin vacation ideas
Replies: 34
Views: 2335

Re: Wisconsin vacation ideas

^ +1 Great List!
by matjen
Mon May 04, 2015 12:24 pm
Forum: Investing - Help with Personal Investments
Topic: Best Municipal Bond Options for Fidelity or Ameritrade
Replies: 10
Views: 782

Re: Best Municipal Bond Options for Fidelity or Ameritrade

Have you thought of Baird Intermediate Muni Bd Inst BMBIX at 30 basis points? I think it is the highest quality intermediate term muni bond fund. A tad more expensive than the basic indexes obviously. Plenty of threads on it. If it costs you every month to buy some then perhaps a problem but if you ...
by matjen
Fri May 01, 2015 9:24 am
Forum: Investing - Theory, News & General
Topic: Bridgewater (Dalio) Alum Starts a Risk Parity RoboAdvisor
Replies: 7
Views: 552

Re: Bridgewater (Dalio) Alum Starts a Risk Parity RoboAdviso

$792,515 under management and two years at what I presume is very low level position at Bridgewater.

https://www.hedgewise.com/documents/For ... art_2A.pdf
by matjen
Fri May 01, 2015 8:48 am
Forum: Investing - Theory, News & General
Topic: Bridgewater (Dalio) Alum Starts a Risk Parity RoboAdvisor
Replies: 7
Views: 552

Bridgewater (Dalio) Alum Starts a Risk Parity RoboAdvisor

Although certainly not a Boglehead-approved strategy, I do find it interesting in that the RoboAdvisor trend now seems to be extending to the more exotic/expensive strategies. Lots of interesting info/marketing on the website. Upon quick glance, fees range from 50 bps to 90 bbs BUT you still have to...
by matjen
Mon Apr 27, 2015 9:04 am
Forum: Investing - Theory, News & General
Topic: How Smart are 'Smart Beta' ETFs? Analysis of Relative Perfor
Replies: 3
Views: 302

Re: How Smart are 'Smart Beta' ETFs? Analysis of Relative Pe

long-term investors can obtain similar or better performance than Smart Beta funds from a simple mix of a risk-free asset and a portfolio which combines passive cap-weighted exposure to market, size and value premiums, while paying a fraction of the cost. This is not the three fund portfolio, this ...
by matjen
Mon Apr 27, 2015 8:33 am
Forum: Investing - Theory, News & General
Topic: How Smart are 'Smart Beta' ETFs? Analysis of Relative Perfor
Replies: 3
Views: 302

How Smart are 'Smart Beta' ETFs? Analysis of Relative Perfor

Just saw this and thought I would put it up on the forum. as a love letter to all the three-fund fans! Enjoy! I have not read yet. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2594941 Abstract: Using a comprehensive sample of 164 domestic equity Smart Beta (SB) ETFs during 2003-2014 period, I ...
by matjen
Thu Apr 23, 2015 8:47 am
Forum: Investing - Theory, News & General
Topic: A Great List of Useless Financial Porn Phrases
Replies: 30
Views: 4177

A Great List of Useless Financial Porn Phrases

Courtesy of Business Insider. "If you follow stock-market punditry obsessively like we do, you'll quickly notice something. A handful of analysts speak English. But the vast majority don't. Rather, they speak a language unique to the investment business. This language consists of market phrases...
by matjen
Wed Apr 22, 2015 3:51 pm
Forum: Investing - Theory, News & General
Topic: Muni Bonds vs Muni Bond Funds
Replies: 10
Views: 787

Re: Muni Bonds vs Muni Bond Funds

Great responses so far. I really appreciate the input. It confirms once again why I keep on telling no to FAs. I Agree 100% with the comments regarding funds mutual funds instead of individual funds. Besides, at least in my case, I am using bonds funds to reduce the risk of my portfolio, not to cha...
by matjen
Wed Apr 22, 2015 11:52 am
Forum: Investing - Theory, News & General
Topic: Muni Bonds vs Muni Bond Funds
Replies: 10
Views: 787

Re: Muni Bonds vs Muni Bond Funds

I think this article by Rick Ferri would be of interest to those on this thread. http://www.rickferri.com/blog/investments/bond-funds-for-the-long-run/ Bond Funds for the Long Run "One of the most common investment questions people ask is, “Should I buy individual bonds or a bond fund?” I’ll cu...
by matjen
Sun Apr 19, 2015 8:55 am
Forum: Investing - Theory, News & General
Topic: David Booth interviews Eugene Fama
Replies: 11
Views: 1895

Re: David Booth interviews Eugene French

Of great interest to me. Great interview. Thanks for posting Robert T. Some highlights for me: 38 minute mark: Additional new factors. Fama prefers a whole portfolio methodology rather than multiple slices of various strategies/factors 41:30 Momentum discussion. It's very real but has implementation...
by matjen
Fri Apr 17, 2015 5:31 pm
Forum: Investing - Theory, News & General
Topic: Fact, Fiction, and Value Investing - Asness/AQR
Replies: 9
Views: 1179

Fact, Fiction, and Value Investing - Asness/AQR

Thought many would enjoy this. I actually haven't read it yet. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2595747 Abstract: Value investing has been a part of the investment lexicon for at least the better part of a century. In particular the diversified systematic “value factor” or “value e...
by matjen
Fri Apr 17, 2015 7:40 am
Forum: Investing - Theory, News & General
Topic: John Bogle vs Jim Grant Debate
Replies: 14
Views: 2283

Re: John Bogle vs Jim Grant Debate

Thanks for posting. In the first article this immediately caught my eye: "After an exchange of barbed letters (circulated to clients of Grant fans like Ted Aronson, who manages $25 billion at Philadelphia-based AJO + Partners ), Bogle and Grant had pledged to argue whether “the cost of investin...
by matjen
Thu Apr 16, 2015 3:57 pm
Forum: Local Chapters and Bogleheads Community
Topic: Favorite Boglehead Avatar?
Replies: 89
Views: 5356

Re: Favorite Boglehead Avatar?

Although I am a fan of my own Billy Jack Avatar. I think the recent "protests" during Mario Draghi's press conference makes for a couple of nice Avatars....I suppose especially if you diversify internationally. :-) http://i61.tinypic.com/6xzsrl.jpg http://i58.tinypic.com/345bxpe.png
by matjen
Sat Apr 11, 2015 9:17 am
Forum: Personal Consumer Issues
Topic: Best fish oil/omega-3 supplement?
Replies: 18
Views: 1276

Re: Best fish oil/omega-3 supplement?

Carlson Fish Oil. Again, not cheap but very good. Can be ordered through Amazon. http://www.amazon.com/Carlson-Finest-Liquid-Omega-3-Lemon/dp/B001LF39RO/ref=sr_1_1?s=hpc&ie=UTF8&qid=1428761775&sr=1-1&keywords=carlson+fish+oil From Dr. Peter Attia: "FISH OIL 1 tablespoon of Carls...
by matjen
Mon Apr 06, 2015 7:17 am
Forum: Investing - Theory, News & General
Topic: Small Value is not tax inefficient!
Replies: 13
Views: 1653

Re: Small Value is not tax inefficient!

^That M* chart does not show the effects of re-invested dividends. Chart a mutual fund first to get that effect. For example, start with VISVX, then add the ETFs for comparison. Thanks Livesoft. I had forgotten about that...but honestly, didn't think it would apply if you are comparing ETF to ETF. ...
by matjen
Mon Apr 06, 2015 7:06 am
Forum: Investing - Theory, News & General
Topic: Small Value is not tax inefficient!
Replies: 13
Views: 1653

Re: Small Value is not tax inefficient!

Part of this is for the wrong reason; IJS costs 20 more basis points than VTI, which costs an extra 3 basis points in taxes. SLYV at 15 basis points is probably the preferred option for tracking this index nowadays. Did SLYV change benchmarks recently or something? For some reason IJS handily beats...
by matjen
Tue Mar 31, 2015 4:44 pm
Forum: Investing - Theory, News & General
Topic: "The Final Say on Spending Rules" - L. Siegel
Replies: 17
Views: 2720

Re: Giving heirs an early inheritance.

I purchased two guaranteed life-income annuities (SPIAs) so that I could give my heirs their inheritance while I am still alive and their need is greatest. It had nothing to do with maximizing my spending. It was insurance that I would never run of money. Best wishes. Taylor Taylor that is a very i...
by matjen
Sun Mar 29, 2015 6:56 pm
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 41392

Re: An alternative to alternative investments [QSPIX]

Thank you Robert T. for bringing this paper to my attention. I found it very interesting.
by matjen
Thu Mar 26, 2015 10:33 am
Forum: Personal Consumer Issues
Topic: Kendrick Lamar: Rapper with Boglehead Principles?
Replies: 14
Views: 1678

Re: Kendrick Lamar: Rapper with Boglehead Principles?

I saw him perform last summer. rap/hip_hop can get tedious live but he put on a good show. Had a backing band which made a difference.
by matjen
Wed Mar 25, 2015 7:17 pm
Forum: Investing - Theory, News & General
Topic: Asset Class Junkie Reads Bernstein's Skating Where Puck Was
Replies: 4
Views: 765

Re: Asset Class Junkie Reads Bernstein's Skating Where Puck

Cheer up value tilters! I love Bill Bernstein and Four Pillars is the single most important finance book I have ever read, however Cliff Asness and crew have a different perspective. More here but this quote should help. ;-) https://www.bogleheads.org/forum/viewtopic.php?f=10&t=162047&newpos...
by matjen
Wed Mar 25, 2015 4:17 pm
Forum: Investing - Theory, News & General
Topic: AQR's Alternative Thinking - Long Term Outlook
Replies: 0
Views: 339

AQR's Alternative Thinking - Long Term Outlook

Here is an article summarizing AQR's thoughts and lower a link to the PDF itself. As always, interesting stuff and not highly encouraging. The whitepaper does say that they think value/momentum tilts and long/short portfolio construction should do a bit better. So I have that going for me. ;-) http:...
by matjen
Tue Mar 24, 2015 1:19 pm
Forum: Investing - Theory, News & General
Topic: Econtalk on Investing/Data Mining/Statistical Significance
Replies: 4
Views: 549

Econtalk on Investing/Data Mining/Statistical Significance

I thought many Bogleheads would enjoy this most recent Econtalk episode. Much of it has to do with investment strategies, data mining and similar topics. http://www.econtalk.org/archives/2015/03/campbell_harvey.html Campbell Harvey of Duke University talks with EconTalk host Russ Roberts about his r...
by matjen
Sun Mar 22, 2015 1:34 pm
Forum: Personal Consumer Issues
Topic: How Do You Watch Television?
Replies: 81
Views: 6360

Re: How Do You Watch Television?

With my eyes.
by matjen
Wed Mar 18, 2015 1:38 pm
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 130
Views: 11785

Re: PXSV has changed indexes

Love the metaphor! This has been my central point when we get into these 3-fund vs. slice and dice spats. If I had a fresh lump sum or were a young high income investor I would take the middle ground moving forward and utilize a 3-fund or perhaps 4-fund portfolio that had all the factor loads/tilts...
by matjen
Tue Mar 17, 2015 6:44 pm
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 130
Views: 11785

Re: PXSV has changed indexes

For us 100% SCV tilters I'm guessing something like: 70% FNDA 30% MTUM looks pretty for factor loads? Not really. See: https://www.portfoliovisualizer.com/factor-analysis?s=y&allocation1_1=40&includeBondFactors=false&endDate=03%2F16%2F2015&allocation2_1=60&symbol1=VIVAX&symb...
by matjen
Tue Mar 17, 2015 6:14 pm
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 130
Views: 11785

Re: PXSV has changed indexes

What happened to good old iShares S&P Small-Cap 600 Value IJS?

The elephant in the room is that this is another potential reason for DFA it seems to me. They don't mess about on the indexes.
by matjen
Mon Mar 16, 2015 7:42 pm
Forum: Investing - Theory, News & General
Topic: Shiller - How Scary Is the Bond Market?
Replies: 29
Views: 4579

Shiller - How Scary Is the Bond Market?

Interesting new Robert Shiller article on likelihood of a bond market "crash." http://www.project-syndicate.org/commentary/bond-market-crash-contagion-by-robert-j--shiller-2015-03 "All of these yields have since moved slightly higher, but they remain exceptionally low. It seems puzzli...
by matjen
Fri Mar 13, 2015 1:22 pm
Forum: Investing - Theory, News & General
Topic: Muni bonds vs. Treasuries - Please explain to me like I'm 5
Replies: 25
Views: 2782

Re: Muni bonds vs. Treasuries - Please explain to me like I'

ogd, thanks for explaining more about this. I don't completely get it and I won't remember it well so you'll likely have to explain again sometime. :happy If it fair to assume that muni bonds are more callable than something like the bonds in total bond market? Or treasuries? Or corporates? This is...
by matjen
Fri Mar 13, 2015 11:07 am
Forum: Investing - Theory, News & General
Topic: Any other investors with 70/30 portfolio?
Replies: 71
Views: 8631

Re: Any other investors with 70/30 portfolio?

I'm 49 in a matter of weeks and at 75/25 but slowly inching toward 70/30. However, I have a pretty good tilt toward SCV and 4%-5% of my portfolio is in QSPIX so one could say that my 75/25 is more risky than a 3-funder...or not.
by matjen
Mon Mar 09, 2015 10:20 am
Forum: Investing - Theory, News & General
Topic: Muni bonds vs. Treasuries - Please explain to me like I'm 5
Replies: 25
Views: 2782

Re: Muni bonds vs. Treasuries - Please explain to me like I'

I think that a properly diversified and managed Muni fund can be just a bit riskier than Treasuries and, of course, also provide a tax advantage. The Vanguard fund you have selected is riskier than that. Look at how it performed in 2008 and ask yourself if you are going to be OK with that next bear ...
by matjen
Sun Mar 08, 2015 10:52 am
Forum: Investing - Theory, News & General
Topic: My Vanguard Momentum Trading Blog
Replies: 23
Views: 2514

Re: My Vanguard Momentum Trading Blog

Typo in your Author section top right. Just an FYI.

If you follow my advice, you are own your own.
by matjen
Sat Mar 07, 2015 1:49 pm
Forum: Personal Consumer Issues
Topic: Honda fit vs VW GTI
Replies: 54
Views: 4420

Re: Honda fit vs VW GTI

First of all, I would not use Car and Driver to evaluate a car that I was thinking of buying. Why anyone would not use Car and Driver as a source of information is beyond me but to each his/her own. I'm not saying it is necessarily the best or only information but it is certainly a very valid data ...
by matjen
Sat Mar 07, 2015 10:06 am
Forum: Personal Consumer Issues
Topic: Honda fit vs VW GTI
Replies: 54
Views: 4420

Re: Honda fit vs VW GTI

Car & Driver just issued a report on their long term Fit. I would much rather have a 2 year old GTI. 3500-4000 RPM at highway speeds in a very poorly insulated car would annoy me to no end. Still, it serves its purpose as an urban utility vehicle. http://www.caranddriver.com/reviews/2015-honda-f...
by matjen
Tue Mar 03, 2015 12:06 pm
Forum: Investing - Help with Personal Investments
Topic: What if you already have a couple million?
Replies: 42
Views: 6872

Re: What if you already have a couple million?

60/40 is my thumbnail answer assuming your expenses are under control and no major changes in your life are expected. I think you are too young to go much more conservative than that.
by matjen
Tue Mar 03, 2015 11:17 am
Forum: Investing - Theory, News & General
Topic: Taylor Larimore Honored
Replies: 59
Views: 5950

Re: Taylor Larimore Honored

Well deserved I am sure Taylor. Congratulations!!!! :beer

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