We won best paper from S&P SPIVA worldwide!
- Rick Ferri
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We won best paper from S&P SPIVA worldwide!
From the press release:
NEW YORK, May 22, 2014 /PRNewswire/: Two researchers from the United States have claimed first prize (USD $30,000) for their study on the outperformance of diversified portfolios of index fund portfolios to portfolios of actively managed funds in S&P Dow Jones Indices' third annual SPIVA Awards program. Second prize (USD $15,000) in the SPIVA Awards program went to a team of researchers from universities across the U.S. for their study of explicit indexing.
The winning paper, "A Case of Index Fund Portfolios," published by Richard Ferri of Portfolio Solutions®, LLC and Alex Benke of Betterment, shows that an all index fund strategy in portfolios is favorable over portfolios of actively managed funds. Two distinct strategies were compared in the report: one that selects low-cost market-tracking index funds exclusively and a second that selects from actively managed funds that attempt to outperform the markets. The study revealed that the probability of outperformance using the simplest index fund portfolio started in the 80th percentile and increased over time. A broader portfolio holding multiple low-cost index funds began at close to the 90th percentile.
Link to paper: A Case For Index Fund Portfolios
Co-written by Rick Ferri, CFA, Portfolio Solutions and Alex Benke, CFP, Betterment
Published: June 2013
For the record, I donated my portion of the prize to the Wall Street Warfighters Foundation, a non-profit orginization with a mission to identify, develop, and place service disabled veterans in careers in the financial services industry. All contributions to the foundation are warmly welcome.
Rick Ferri
[An archived copy of the paper can be found here: WhitePaper.pdf --admin LadyGeek]
NEW YORK, May 22, 2014 /PRNewswire/: Two researchers from the United States have claimed first prize (USD $30,000) for their study on the outperformance of diversified portfolios of index fund portfolios to portfolios of actively managed funds in S&P Dow Jones Indices' third annual SPIVA Awards program. Second prize (USD $15,000) in the SPIVA Awards program went to a team of researchers from universities across the U.S. for their study of explicit indexing.
The winning paper, "A Case of Index Fund Portfolios," published by Richard Ferri of Portfolio Solutions®, LLC and Alex Benke of Betterment, shows that an all index fund strategy in portfolios is favorable over portfolios of actively managed funds. Two distinct strategies were compared in the report: one that selects low-cost market-tracking index funds exclusively and a second that selects from actively managed funds that attempt to outperform the markets. The study revealed that the probability of outperformance using the simplest index fund portfolio started in the 80th percentile and increased over time. A broader portfolio holding multiple low-cost index funds began at close to the 90th percentile.
Link to paper: A Case For Index Fund Portfolios
Co-written by Rick Ferri, CFA, Portfolio Solutions and Alex Benke, CFP, Betterment
Published: June 2013
For the record, I donated my portion of the prize to the Wall Street Warfighters Foundation, a non-profit orginization with a mission to identify, develop, and place service disabled veterans in careers in the financial services industry. All contributions to the foundation are warmly welcome.
Rick Ferri
[An archived copy of the paper can be found here: WhitePaper.pdf --admin LadyGeek]
Last edited by Rick Ferri on Thu Mar 10, 2016 4:32 pm, edited 1 time in total.
The Education of an Index Investor: born in darkness, finds indexing enlightenment, overcomplicates everything, embraces simplicity.
Re: We won best paper from S&P SPIVA worldwide!
"For the record, I donated my portion of the prize to the Wall Street Warfighters Foundation, a non-profit orginization with a mission to identify, develop, and place service disabled veterans in careers in the financial services industry"
Superb,Exlempary!
Superb,Exlempary!
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
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Re: We won best paper from S&P SPIVA worldwide!
congratulations Rick, well done
larry
larry
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Re: We won best paper from S&P SPIVA worldwide!
Great job Rick! Congratulations!
Excellent use of the proceeds.
Excellent use of the proceeds.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: We won best paper from S&P SPIVA worldwide!
Well deserved Rick! Congratulations!!!!
A man is rich in proportion to the number of things he can afford to let alone.
Re: We won best paper from S&P SPIVA worldwide!
To Rick and his Team
Outstanding work, and please continue to Do Great Things. "Because of my integrity you uphold me and set me in your presence forever."
Thank you.
Outstanding work, and please continue to Do Great Things. "Because of my integrity you uphold me and set me in your presence forever."
Thank you.
~ Member of the Active Retired Force since 2014 ~
- Dale_G
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Re: We won best paper from S&P SPIVA worldwide!
Terrific - and in keeping with what we have come to expect from you Rick. You have now set an even higher hurdle.
Dale
Dale
Volatility is my friend
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Re: We won best paper from S&P SPIVA worldwide!
Congratulations and thank you!
- patriciamgr2
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Re: We won best paper from S&P SPIVA worldwide!
Congratulations on the honor and thank you so very much for your use of the prize proceeds. I appreciate all that you do for investors like us. Thanks!
Re: We won best paper from S&P SPIVA worldwide!
Good on ya Rick!
Re: We won best paper from S&P SPIVA worldwide!
Well deserved, the paper is excellent...a GEM.
Paul
Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.
Re: We won best paper from S&P SPIVA worldwide!
Nice going on the paper and the prize. Cool use of the proceeds too. That sounds like a very worthy cause.
Kalo
Kalo
"When people say they have a high risk tolerance, what they really mean is that they are willing to make a lot of money." -- Ben Stein/Phil DeMuth - The Little Book of Bullet Proof Investing.
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Re: We won best paper from S&P SPIVA worldwide!
I agree nice job.
Does it concern you that you are donating the proceeds of your award to place disabled veterans in an industry that your truth-telling is putting out of business.
Haha. Just kidding.
Great job!
Does it concern you that you are donating the proceeds of your award to place disabled veterans in an industry that your truth-telling is putting out of business.
Haha. Just kidding.
Great job!
- asset_chaos
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- Mel Lindauer
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Re: We won best paper from S&P SPIVA worldwide!
Nice job, Rick. I used your paper when it first came out to show the active crowd over at Morningstar that the odds were severely stacked against them.
Your generosity continues. I don't know if forum members know that you've been donating the proceeds of your books to the Wounded Warriors, so I'm going to let them know about that, too.
Your generosity continues. I don't know if forum members know that you've been donating the proceeds of your books to the Wounded Warriors, so I'm going to let them know about that, too.
Best Regards - Mel |
|
Semper Fi
Re: We won best paper from S&P SPIVA worldwide!
Sweet!
'It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so!' Mark Twain
- ObliviousInvestor
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Re: We won best paper from S&P SPIVA worldwide!
Congratulations! It's a great paper. I've referred readers to it on several occasions.
Mike Piper |
Roth is a name, not an acronym. If you type ROTH, you're just yelling about retirement accounts.
Re: We won best paper from S&P SPIVA worldwide!
You can get what you want, or you can just get old. (Billy Joel, "Vienna")
Re: We won best paper from S&P SPIVA worldwide!
Rick, I applaud you on the award. But I applaud you more for donating the winnings to a worthy organization. I am a semi-retired consultant now and earmark a very large percentage of the consulting fees to autistic charities. For me it provides far more pleasure than anything I could get myself, especially when I see something that the money is actually used for. For the bogleheads who are not charitable, look into it, it is wonderful.Rick Ferri wrote:From the press release:
NEW YORK, May 22, 2014 /PRNewswire/: Two researchers from the United States have claimed first prize (USD $30,000) for their study on the outperformance of diversified portfolios of index fund portfolios to portfolios of actively managed funds in S&P Dow Jones Indices' third annual SPIVA Awards program. Second prize (USD $15,000) in the SPIVA Awards program went to a team of researchers from universities across the U.S. for their study of explicit indexing.
The winning paper, "A Case of Index Fund Portfolios," published by Richard Ferri of Portfolio Solutions®, LLC and Alex Benke of Betterment, shows that an all index fund strategy in portfolios is favorable over portfolios of actively managed funds. Two distinct strategies were compared in the report: one that selects low-cost market-tracking index funds exclusively and a second that selects from actively managed funds that attempt to outperform the markets. The study revealed that the probability of outperformance using the simplest index fund portfolio started in the 80th percentile and increased over time. A broader portfolio holding multiple low-cost index funds began at close to the 90th percentile.
Link to paper: A Case For Index Fund Portfolios
Co-written by Rick Ferri, CFA, Portfolio Solutions and Alex Benke, CFP, Betterment
Published: June 2013
For the record, I donated my portion of the prize to the Wall Street Warfighters Foundation, a non-profit orginization with a mission to identify, develop, and place service disabled veterans in careers in the financial services industry. All contributions to the foundation are warmly welcome.
Rick Ferri
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Re: We won best paper from S&P SPIVA worldwide!
Congrats, one of the few among the myriad papers that get linked on here I actually read. It was very good. I remember having some lively discussions on the forums over at M* not long after it first came out.
Don't do something. Just stand there!
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Boglehead Rick Ferri
"Simplicity is the master key to financial success." -- Jack Bogle
Re: We won best paper from S&P SPIVA worldwide!
Congratulations, Rick! You make me proud for all you do.
Ed
Ed
Re: We won best paper from S&P SPIVA worldwide!
Congratulations, you and any others involved certainly earned it! -- Tet
- Taylor Larimore
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Rick Ferri's gems.
Bogleheads:
You can read many of Rick's best investing ideas in our Collection of Investment Gems:
All About Asset Allocation
All About Index Funds
The Bogleheads' Guide to Retirement Planning
The ETF Book
The Power of Passive Investing
Protecting Your Wealth
Serious Money (a free online book)
Best wishes.
Taylor
You can read many of Rick's best investing ideas in our Collection of Investment Gems:
All About Asset Allocation
All About Index Funds
The Bogleheads' Guide to Retirement Planning
The ETF Book
The Power of Passive Investing
Protecting Your Wealth
Serious Money (a free online book)
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Re: We won best paper from S&P SPIVA worldwide!
Congrats!
Here's the official website: Thought Leadership - SPIVA - S&P Dow Jones Indices. Rick Ferri and Alex Benke are featured.
The wiki has some background info: SPIVA scorecards
For completeness, you can also see the 2nd place finishers (click on the Second Place tab).
Here's the official website: Thought Leadership - SPIVA - S&P Dow Jones Indices. Rick Ferri and Alex Benke are featured.
The wiki has some background info: SPIVA scorecards
For completeness, you can also see the 2nd place finishers (click on the Second Place tab).
- FrugalInvestor
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Re: We won best paper from S&P SPIVA worldwide!
Nice job Rick! You make us all proud and perhaps a little smug.
Have a plan, stay the course and simplify. Then ignore the noise!
- pennstater2005
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Re: We won best paper from S&P SPIVA worldwide!
What a great achievement!
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson
- fishnskiguy
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Re: We won best paper from S&P SPIVA worldwide!
Bravo Zulu.
Chris
Chris
Trident D-5 SLBM- "When you care enough to send the very best."
Re: We won best paper from S&P SPIVA worldwide!
Congratulations on the award. Good job.Mel Lindauer wrote:Nice job, Rick. I used your paper when it first came out to show the active crowd over at Morningstar that the odds were severely stacked against them.
Your generosity continues. I don't know if forum members know that you've been donating the proceeds of your books to the Wounded Warriors, so I'm going to let them know about that, too.
Mel, thanks for letting us know of the donations from the books. I am doubly impressed.
Jim
- Taylor Larimore
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Rick Ferri on "Panel of Experts"
Jim:Congratulations on the award. Good job.
Mel, thanks for letting us know of the donations from the books. I am doubly impressed.
Jim
Rick is a long-time member on our Panel of Experts at Boglehead Conferences. Meet Rick in-person and you will be triply impressed.
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Re: We won best paper from S&P SPIVA worldwide!
Congratulations Rick!
Well deserved....makes me proud to be a "Boglehead"!
Your work, as well as other "Bogleheads", serves us well.
Your use of the proceeds is admirable fo sure!
Sure wish you were here in PA...would be on your front steps waiting to get in.
Respectfully,
Don
Well deserved....makes me proud to be a "Boglehead"!
Your work, as well as other "Bogleheads", serves us well.
Your use of the proceeds is admirable fo sure!
Sure wish you were here in PA...would be on your front steps waiting to get in.
Respectfully,
Don
- laughlinlvr
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Re: We won best paper from S&P SPIVA worldwide!
Congratulations Rick. Thanks for all you do - for veterans, for Bogleheads and for individual investors.
Investing - The hardest way to make an easy living.
Re: We won best paper from S&P SPIVA worldwide!
Congratulations - nice work!
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Re: We won best paper from S&P SPIVA worldwide!
Congratulations on both counts, Rick, creating the winning research paper and what you did with the proceeds. Big time scores on both.
Garland Whizzer
Garland Whizzer
- Rick Ferri
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Re: We won best paper from S&P SPIVA worldwide!
Thank you all. It was quite a surprise.
I have been invited to join the current class of Wall Street Warfighters when they visit S&P in NY next week. I'm looking forward to it.
Rick Ferri
I have been invited to join the current class of Wall Street Warfighters when they visit S&P in NY next week. I'm looking forward to it.
Rick Ferri
The Education of an Index Investor: born in darkness, finds indexing enlightenment, overcomplicates everything, embraces simplicity.
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Re: We won best paper from S&P SPIVA worldwide!
Rick,
Congratulations and thanks for what you do.
Harry
Congratulations and thanks for what you do.
Harry
Re: We won best paper from S&P SPIVA worldwide!
Congratulations!
Well done.
Well done.
We live a world with knowledge of the future markets has less than one significant figure. And people will still and always demand answers to three significant digits.
Re: We won best paper from S&P SPIVA worldwide!
A very interesting read, thanks to you Rick and Alex for producing this work and making it available.
Your PPM #1 (increased probability as a portfolio) is a really big deal! As you show, not only are individual index funds the better bet (as we already know), but as a collectively diversified group, they are even stronger and more robust than what the calculated aggregate would be.
Your PPM #1 (increased probability as a portfolio) is a really big deal! As you show, not only are individual index funds the better bet (as we already know), but as a collectively diversified group, they are even stronger and more robust than what the calculated aggregate would be.
LOSER of the Boglehead Contest 2015 |
lang may yer lum reek
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Re: We won best paper from S&P SPIVA worldwide!
Great now I have another paper to read!!
Congrats and expect nothing less from the author of one of my fav. investing books, "AAAA"!!
Good luck.
Congrats and expect nothing less from the author of one of my fav. investing books, "AAAA"!!
Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” |
-Jack Bogle