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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
Sun Mar 29, 2015 6:56 pm
 
Forum: Investing - Theory, News & General
Topic: An alternative to alternative investments [QSPIX]
Replies: 319
Views: 38792

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
Thu Mar 26, 2015 10:33 am
 
Forum: Personal Consumer Issues
Topic: Kendrick Lamar: Rapper with Boglehead Principles?
Replies: 14
Views: 1568

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 7:17 pm
 
Forum: Investing - Theory, News & General
Topic: Asset Class Junkie Reads Bernstein's Skating Where Puck Was
Replies: 4
Views: 698

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
Wed Mar 25, 2015 4:17 pm
 
Forum: Investing - Theory, News & General
Topic: AQR's Alternative Thinking - Long Term Outlook
Replies: 0
Views: 285

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
Tue Mar 24, 2015 1:19 pm
 
Forum: Investing - Theory, News & General
Topic: Econtalk on Investing/Data Mining/Statistical Significance
Replies: 4
Views: 477

Re: How Do You Watch Television?

With my eyes.
by matjen
Sun Mar 22, 2015 1:34 pm
 
Forum: Personal Consumer Issues
Topic: How Do You Watch Television?
Replies: 81
Views: 5531

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
Wed Mar 18, 2015 1:38 pm
 
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 88
Views: 6159

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 6:44 pm
 
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 88
Views: 6159

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
Tue Mar 17, 2015 6:14 pm
 
Forum: Investing - Theory, News & General
Topic: PXSV has changed indexes
Replies: 88
Views: 6159

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
Mon Mar 16, 2015 7:42 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller - How Scary Is the Bond Market?
Replies: 29
Views: 4408

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 1:22 pm
 
Forum: Investing - Theory, News & General
Topic: Muni bonds vs. Treasuries - Please explain to me like I'm 5
Replies: 25
Views: 2559

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
Fri Mar 13, 2015 11:07 am
 
Forum: Investing - Theory, News & General
Topic: Any other investors with 70/30 portfolio?
Replies: 70
Views: 7521

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
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: 2559

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
Sun Mar 08, 2015 10:52 am
 
Forum: Investing - Theory, News & General
Topic: My Vanguard Momentum Trading Blog
Replies: 18
Views: 1673

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 1:49 pm
 
Forum: Personal Consumer Issues
Topic: Honda fit vs VW GTI
Replies: 54
Views: 3979

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
Sat Mar 07, 2015 10:06 am
 
Forum: Personal Consumer Issues
Topic: Honda fit vs VW GTI
Replies: 54
Views: 3979

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 12:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: What if you already have a couple million?
Replies: 42
Views: 6565

Re: Taylor Larimore Honored

Well deserved I am sure Taylor. Congratulations!!!! :beer
by matjen
Tue Mar 03, 2015 11:17 am
 
Forum: Investing - Theory, News & General
Topic: Taylor Larimore Honored
Replies: 59
Views: 5067

Meb Faber Kindle Books - Free!

Hello Bogleheads, From time to time Meb Faber comes up in discussion. He has a new book coming out shortly which appears to be his take on the Dimson and Marsh global returns work. He let me know that two of his earlier works are currently free over at Amazon for those who are interested. Here is hi...
by matjen
Mon Mar 02, 2015 3:18 pm
 
Forum: Investing - Theory, News & General
Topic: Meb Faber Kindle Books - Free!
Replies: 1
Views: 545

Re: Nasdaq Record High....

I was victimized by Cisco (CSCO). Although many point to the obvious dot com stocks like etoys or pets.com but don't forget you can lose a bundle being in a company that has dominated its space for the past 15 years as well. Expectations were just too crazy.
by matjen
Mon Mar 02, 2015 2:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Nasdaq Record High....
Replies: 25
Views: 1953

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: 54
Views: 3979

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: 2607

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: 1199

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: 391

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: 5685

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: 592

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: 101
Views: 6881

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: 101
Views: 6881

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: 3887

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: 101
Views: 6881

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: 319
Views: 38792

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: 61
Views: 3931

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: 182
Views: 11631

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: 634
Views: 78358

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: 3887

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: 2184

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: 2641

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: 10463

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: 2641

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: 711

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: 394

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: 139
Views: 13300

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: 2184

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: 10463

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: 3840

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: 975

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: 2028

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: 1856
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