Search found 198 matches

by gtwhitegold
Thu Jul 20, 2017 6:23 am
Forum: Investing - Theory, News & General
Topic: Stone Ridge Elements Funds
Replies: 1
Views: 335

Stone Ridge Elements Funds

Has anyone seen anything about the Stone Ridge Elements funds? I ran into their page online looking for information about Stone Ridge's other funds. If they are or will be available to retail investors, they look like a good alternative to AQR's Multi-Style funds. They also have an International Sma...
by gtwhitegold
Wed Jul 19, 2017 7:04 am
Forum: Investing - Theory, News & General
Topic: Why does VG offer almost identical international funds?
Replies: 7
Views: 1108

Re: Why does VG offer almost identical international funds?

Total International includes small caps and Ex-US doesn't. So, all else equal, choose Total International.
by gtwhitegold
Sat Jul 15, 2017 10:49 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 184
Views: 21455

Re: My Favorite Alternative Funds

My wife and I hold QSPNX and QMHNX in our Fidelity accounts and will consider other alternative funds if they are accessible without an advisor and they are worth their costs. I've considered investing in other managed futures funds, but the costs are too high for my taste.
by gtwhitegold
Wed Jul 12, 2017 7:37 am
Forum: Investing - Theory, News & General
Topic: Approximating a target maturity bond fund
Replies: 8
Views: 389

Re: Approximating a target maturity bond fund

You have 2 options, either have (a) shorter term fund(s) and try to keep an average maturity between the funds equal to the remaining time you have left on the loan or you can keep the other amount in a high interest savings account in addition to BLV and set the duration of the amount in the saving...
by gtwhitegold
Wed Jul 12, 2017 7:25 am
Forum: Investing - Theory, News & General
Topic: Paul Merriman: The One Fund Every Investor Should Own
Replies: 122
Views: 18292

Re: Paul Merriman: The One Fund Every Investor Should Own

The other solution would be to hold an appropriate target date fund that targets factors in addition to beta such as the newer DFA funds that are available now. This does not provide a very large factor load to small or value however, but it is simple enough to set it and forget it if you have acces...
by gtwhitegold
Wed Jul 12, 2017 5:29 am
Forum: Investing - Theory, News & General
Topic: TSP Expense Ratio jumps to 0.038%
Replies: 72
Views: 8819

Re: TSP Expense Ratio jumps to 0.038%

Blackrock manages all of the TSP funds and performs similar security lending on the TSP as they do their own funds. However, this does not subtract from the costs of the funds. The TSP funds have outperformed their indices several years due in part to securities lending. This suggests to me that the...
by gtwhitegold
Mon Jul 10, 2017 4:58 am
Forum: Investing - Theory, News & General
Topic: Talk me out of long term bonds
Replies: 26
Views: 2346

Re: Talk me out of long term bonds

The other thing to consider is if you have a higher interest stable value fund (SVF). If so, you may increase your bond duration and substitute a portion of your bond portfolio with the SVF to match duration with expected time period and still collect higher returns. New investor question. Why are l...
by gtwhitegold
Mon Jul 10, 2017 4:43 am
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 184
Views: 21455

Re: My Favorite Alternative Funds

The 00s were net neutral for US stocks. You must have hated it then. No asset will ever perform consistently except for CDs, US Government Bonds held to maturity, and savings accounts. If you expect anything to, you're probably fooling yourself. Well I'm pretty disappointed with QSPNX, which has bee...
by gtwhitegold
Sat Jul 08, 2017 5:05 am
Forum: Investing - Theory, News & General
Topic: Money Pours In = Diminishing Returns?
Replies: 9
Views: 2399

Re: Money Pours In = Diminishing Returns?

No, I'm arguing about markets in general. If assets continue to attract more money and prices continue to increase without reason or if they overreact to information and go significantly above historical valuations, then investors should expect lower returns in the future. I'm not supporting market ...
by gtwhitegold
Sun Jun 25, 2017 10:24 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio critique, bond options for taxable at Schwab, in CA?
Replies: 13
Views: 1438

Re: Portfolio critique, bond options for taxable at Schwab, in CA?

I agree with In_reality. It doesn't look like you're trying to capture a size or value premium with your portfolio, so access to DFA funds probably isn't a big deal. Thus, use your tax advantaged space to hold your bonds as much as possible. Start with your traditional IRA and 401k accounts. I would...
by gtwhitegold
Sat Jun 24, 2017 11:12 pm
Forum: Investing - Theory, News & General
Topic: Money Pours In = Diminishing Returns?
Replies: 9
Views: 2399

Re: Money Pours In = Diminishing Returns?

I would argue that as more money flows in, the expected returns will naturally decrease, but this is to be expected. However, if investing in market weighted indices, investors should just accept this and move on. Trying to outsmart the system is likely a fool's errand.
by gtwhitegold
Sat Jun 24, 2017 11:06 pm
Forum: Investing - Theory, News & General
Topic: What do BH think of this formula for an early retiree?
Replies: 26
Views: 3679

Re: What do BH think of this formula for an early retiree?

Why not use a TIPS ladder or a CD ladder and have the rest in your desired future asset allocation?

I would personally have more in my ladder than recommended to allow for the unexpected, but the goal is the same.
by gtwhitegold
Tue Jun 06, 2017 7:17 am
Forum: Investing - Theory, News & General
Topic: Questions and Answers about Opting into the Blended Retirement System (BRS)
Replies: 1
Views: 379

Re: Questions and Answers about Opting into the Blended Retirement System (BRS)

I'm above the window for the BRS, but my biggest recommendation is to do your research for what is better for you. In most instances, the traditional retirement package is better than BRS if the person does decide to serve over 20 years and is eligible to receive a pension. However, BRS is definitel...
by gtwhitegold
Mon May 22, 2017 9:48 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Problems With The Factor Zoo
Replies: 24
Views: 2941

Re: Larry Swedroe: Problems With The Factor Zoo

The thing with quality is that alone it performs better than the market over long periods of time, but it's even better combined with value. Putting the two together gets rid of junk value stocks and overvalued quality stocks leaving you with equities somewhat like a Buffet portfolio, "quality at a ...
by gtwhitegold
Sat May 20, 2017 7:21 pm
Forum: Investing - Theory, News & General
Topic: Different Asset Allocation for Taxable
Replies: 7
Views: 1045

Re: Different Asset Allocation for Taxable

Also, just search for a Roth conversion ladder either here or Google. I intend to utilize that capability once I'm closer to retirement.
by gtwhitegold
Sat May 20, 2017 6:53 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Problems With The Factor Zoo
Replies: 24
Views: 2941

Re: Larry Swedroe: Problems With The Factor Zoo

AQR Multi-Style, DFA, and the iShares Edge Multi-factor funds all screen for quality. Also, any funds that us price to equity or price to cash flow screens will have a quality tilt. As a screen, I like it. I'm also more interested in "quality" factors as screening rather than independent sources of ...
by gtwhitegold
Sat May 13, 2017 8:54 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe Article On Enhancing Momentum Strategies
Replies: 60
Views: 6659

Re: Larry Swedroe Article On Enhancing Momentum Strategies

Same here. Most Bogleheads would scoff at some of the expense ratios for funds that I am currently holding, but I believe that they are the least expensive funds that are available to me that meet the requirements that I have established. Should less expensive funds arise that I have access to, I wi...
by gtwhitegold
Sat May 13, 2017 7:48 am
Forum: Investing - Theory, News & General
Topic: Rob Arnott [buy emerging market equities vs. US stocks]
Replies: 40
Views: 3524

Re: Rob Arnott [buy emerging market equities vs. US stocks]

I personally think that overweighting emerging markets vice international developed markets is a good idea if you believe that they will continue to have lower correlations with US equities than international developed markets. I personally believe this, so I am overweight emerging markets relative ...
by gtwhitegold
Fri May 12, 2017 11:26 pm
Forum: Investing - Theory, News & General
Topic: Odd factor loadings - int'l funds
Replies: 6
Views: 911

Re: Odd factor loadings - int'l funds

Two things to look at are how the desired fund maps out in the Morningstar.com portfolio view and if its prospectus explicitly states that it uses quantitative methods in its security selection. The other issues with using portfolio visualizer for international funds are that the country exposures a...
by gtwhitegold
Fri May 12, 2017 8:00 am
Forum: Investing - Theory, News & General
Topic: Odd factor loadings - int'l funds
Replies: 6
Views: 911

Re: Odd factor loadings - int'l funds

The other issues with using portfolio visualizer for international funds are that the country exposures are not the same between most international funds and the global excluding the United States option in portfolio visualizer and that some funds include emerging markets while portfolio visualizer ...
by gtwhitegold
Sat May 06, 2017 11:46 pm
Forum: Investing - Help with Personal Investments
Topic: 3 Fund Portfolio with TSP help
Replies: 38
Views: 4243

Re: 3 Fund Portfolio with TSP help

Depending on your TSP balance, I would personally recommend to keep your international funds in your Vanguard account and US and bonds in the TSP. If you already have a sizeable TSP balance, then use the I Fund for a portion of your international exposure. Since the TSP doesn't have a total stock ma...
by gtwhitegold
Mon Apr 24, 2017 2:43 am
Forum: Investing - Theory, News & General
Topic: Passive and Active, All the Time?
Replies: 15
Views: 1644

Re: Passive and Active, All the Time?

I do think that it's better to use active management for quantitative funds vice indices, since you can do the patient trading and other stuff that DFA is praised for, but I don't think that pure active management is beneficial. You normally don't pay much extra for quantitative active funds vice re...
by gtwhitegold
Mon Apr 17, 2017 12:15 pm
Forum: Investing - Theory, News & General
Topic: International Portfolio Tilt
Replies: 18
Views: 2307

Re: International Portfolio Tilt

I'm about at parity between US and International stocks in my portfolio now. I'm also overweight Emerging Markets relative to International Developed Markets. I'm using AQR Multi-Style Funds for Developed (QICNX/QICLX) and Emerging (QEELX/QEENX) large caps. I'm using Segall Bryant and Hamill's Inter...
by gtwhitegold
Sun Apr 16, 2017 3:18 am
Forum: Investing - Theory, News & General
Topic: Zweig: The Expensive Ingredient of Cheap ETFs [Price vs. NAV]
Replies: 12
Views: 2840

Re: Zweig: The Expensive Ingredient of Cheap ETFs [Price vs. NAV]

I have a small allocation to frontier markets and I use iShares FM and Guggenheim FRN since there aren't any quality mutual funds for frontier markets. I also have a small allocation to First Trust Emerging Markets Small Cap AlphaDEX fund. I do use limit orders, but it's still difficult to trade at ...
by gtwhitegold
Wed Apr 12, 2017 11:02 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 192
Views: 33690

Re: Improving the TSP [for current participants]

I'm considering something similar. After my Active duty time is up, I will likely transfer most of my traditional balance to a TIRA and my Roth balance to a RIRA. After that, I will roll over the TIRA to either my future employer's 401K or to a Solo 401k that I am considering opening for work as an ...
by gtwhitegold
Sun Apr 09, 2017 2:05 am
Forum: Investing - Theory, News & General
Topic: Roth IRA - Using Risk to Grow the Pie
Replies: 30
Views: 3331

Re: Roth IRA - Using Risk to Grow the Pie

I would lean towards AQR's relaxed Constraint funds. More specifically, QERIX (EMLC) and QSRIX (USSC). Both of these should have considerably more risk and higher returns than a traditional long-only mutual fund.
by gtwhitegold
Mon Mar 27, 2017 4:44 am
Forum: Investing - Help with Personal Investments
Topic: Add TIPS (VAIPX) to Bond Allocation?
Replies: 8
Views: 1249

Re: Add TIPS (VAIPX) to Bond Allocation?

One other thing to consider is correlations between assets. Longer TIPS tend to have lower correlations with equities than shorter term bonds. So, if you have a small allocation to bonds, then a longer duration will probably be better in the long run. As your bond allocation increases, shorten your ...
by gtwhitegold
Fri Mar 24, 2017 11:36 pm
Forum: Investing - Theory, News & General
Topic: Part 2 of series on EM, another look at valuations
Replies: 11
Views: 1700

Re: Part 2 of series on EM, another look at valuations

DEMSX isn't marketed as small value, but it still has more of a value tilt than most emerging markets small cap funds. If it was readily available to retail investors, I would use it for my allocation to EMSC. I wonder why DFA doesn't have emerging market small cap value? It has either emerging mark...
by gtwhitegold
Thu Mar 23, 2017 5:09 am
Forum: Investing - Theory, News & General
Topic: Blog on emerging Markets, and investors underweighting them
Replies: 103
Views: 10355

Re: Blog on emerging Markets, and investors underweighting them

I am personally overweight EM vice international developed stocks due to lower correlations with US stocks. My current portfolio has half of equities in international and of that, 60% is in EM. I think that it's a good idea to at least slightly overweight EM since EM equities have lower correlations...
by gtwhitegold
Tue Mar 21, 2017 9:50 pm
Forum: Investing - Theory, News & General
Topic: Reinsurance. CAT bonds
Replies: 24
Views: 2801

Re: Reinsurance. CAT bonds

Larry,

What makes SRRIX better than the Cat Bond market as a whole? I just finished reading an article about the status of the Cat bond market and it doesn't provide much confidence in the future of it for the time being.

https://www.aqr.com/library/journal-art ... -cat-bonds

Thanks in advance.
by gtwhitegold
Tue Mar 21, 2017 8:08 pm
Forum: Investing - Theory, News & General
Topic: How Cliff Asness Became A Billionaire By Building A Kind Of Vanguard Of Hedge Funds
Replies: 11
Views: 2143

Re: How Cliff Asness Became A Billionaire By Building A Kind Of Vanguard Of Hedge Funds

I will take that back. Apparently, they are looking to offer a catastrophe bond fund. If it will be widely available may be another matter. No fund ticker was mentioned. m If this does open up to retail investors, it will be interesting to me. It will probably be going after a similar market to the ...
by gtwhitegold
Tue Mar 21, 2017 7:58 pm
Forum: Investing - Theory, News & General
Topic: How Cliff Asness Became A Billionaire By Building A Kind Of Vanguard Of Hedge Funds
Replies: 11
Views: 2143

Re: How Cliff Asness Became A Billionaire By Building A Kind Of Vanguard Of Hedge Funds

I don't know. Everything else in the article seems pretty canned. It may be conjecture on the author's part. Have you seen an SEC filing for it? I don't think that they will release a bond fund. Most of their research into bonds goes into their alternative funds. Just checking, but you know that was...
by gtwhitegold
Tue Mar 21, 2017 6:23 pm
Forum: Investing - Theory, News & General
Topic: How Cliff Asness Became A Billionaire By Building A Kind Of Vanguard Of Hedge Funds
Replies: 11
Views: 2143

Re: How Cliff Asness Became A Billionaire By Building A Kind Of Vanguard Of Hedge Funds

I don't think that they will release a bond fund. Most of their research into bonds goes into their alternative funds. I assume though that AQR is still charging 150 basis points (1.5%) + a performance fee? They run hedge funds (and a range of separately managed accounts and other pools of money for...
by gtwhitegold
Tue Mar 21, 2017 6:18 pm
Forum: Investing - Theory, News & General
Topic: Harvard endowment beats S&P 500 by 2% a year over last 40 years
Replies: 50
Views: 7102

Re: Harvard endowment beats S&P 500 by 2% a year over last 40 years

Issue looks mostly political to me. God forbid paying someone a competitive wage to his or her peers.

http://awealthofcommonsense.com/2016/10 ... ndowments/
by gtwhitegold
Tue Mar 21, 2017 5:59 pm
Forum: Investing - Help with Personal Investments
Topic: How to harmonize a TSP and a Vanguard portfolio
Replies: 9
Views: 810

Re: How to harmonize a TSP and a Vanguard portfolio

I personally would sell any bonds held with Vanguard and purchase Vanguard Total International. (VGTSX/VTIAX/VXUS) I would also lean towards the Admiral Shares of the Mutual Fund if possible (VTIAX.) After that, I would work with US stocks if necessary in your Vanguard account. Just make sure that y...
by gtwhitegold
Tue Mar 07, 2017 11:16 pm
Forum: Investing - Theory, News & General
Topic: ETF Inflows YTD - Vanguard #2
Replies: 3
Views: 646

Re: ETF Inflows YTD - Vanguard #2

Another issue is that Blackrock has a considerable head start on Vanguard. Blackrock ETFs tend to be more liquid than comparable Vanguard ETFs since they have been open longer, leading to more shares outstanding and more shares trading hands on a daily basis. Also, in many areas, Blackrock offers ET...
by gtwhitegold
Tue Mar 07, 2017 10:56 pm
Forum: Investing - Theory, News & General
Topic: Improving the Dalio/Robbins All-Seasons Portfolio
Replies: 70
Views: 14392

Re: Improving the Dalio/Robbins All-Seasons Portfolio

I personally am doing something similar to this with my portfolio, but in place of commodities I'm using AQR's QMHIX Managed Futures High Volatility Fund and QSPIX Style Premia Fund. I agree with Larry Swedroe that commodity futures are in contango too much to be profitable now and am using other so...
by gtwhitegold
Thu Feb 23, 2017 3:34 pm
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Funds Available at Fidelity
Replies: 8
Views: 1503

Re: AQR Relaxed Constraint Funds Available at Fidelity

Morningstar.com has posted their fund portfolio views of the AQR Relaxed Constraint Series. They appear to have a much larger value tilt than the Multi-Style Series. I'm thinking about using both for rebalancing opportunities.

http://portfolios.morningstar.com/fund/ ... ture=en_US

http://portfolios.morningstar.com/fund/ ... ture=en_US

http://portfolios.morningstar.com/fund/summary?t=QIRIX

http://portfolios.morningstar.com/fund/ ... ture=en_US
by gtwhitegold
Sun Feb 19, 2017 7:37 am
Forum: Investing - Theory, News & General
Topic: TSP Expense Ratio jumps to 0.038%
Replies: 72
Views: 8819

Re: TSP Expense Ratio jumps to 0.038%

The inflexibility of withdrawal options and my decision to have a small value and Emerging Markets tilt on my portfolio is pushing me towards moving most of my money out of the TSP upon transfer to the Fleet Reserve. The biggest carrot left is the G Fund which I'm willing to replace with a stable va...
by gtwhitegold
Sat Feb 18, 2017 7:23 am
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Funds Available at Fidelity
Replies: 8
Views: 1503

Re: AQR Relaxed Constraint Funds Available at Fidelity

Looks like the I class shares are the only flavor available now through Fidelity. Also, it's currently missing the International Developed fund, QIRIX. If they add the N class shares, I will likely use them for my allocations to USSC, IDLC and EMLC in my IRA accounts.
by gtwhitegold
Fri Feb 17, 2017 5:41 am
Forum: Investing - Theory, News & General
Topic: Please list value funds you currently use
Replies: 62
Views: 6185

Re: Please list value funds you currently use

Domestic Small: QSMNX - AQR MS US Small
International Large: QICNX - AQR MS ID Large
International Small: SBHSX - Segall, Bryant, and Hamill ID Small
Emerging Large: QEELX - AQR MS EM
Emerging Small: FEMS - FT AlphaDEX EM SC
Emerging Small: ALMMX - Allianz EM SM
Alternative: QSPNX - AQR SP
by gtwhitegold
Fri Feb 10, 2017 11:32 pm
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Funds Available at Fidelity
Replies: 8
Views: 1503

Re: AQR Relaxed Constraint Funds Available at Fidelity

I don't think that I will move my QEELX over right now due to commission costs, but I do plan on using these for my USLC, USSC, IDLC, and EMLC positions in the future once I have gotten closer to my targets for EMSC and IDSC.
by gtwhitegold
Sun Feb 05, 2017 7:54 pm
Forum: Investing - Theory, News & General
Topic: Costs of the TSP? is it self-sustained?
Replies: 33
Views: 3802

Re: Costs of the TSP? is it self-sustained?

Only costs involved with the TSP that are incurred by the taxpayers are those required to be. All other costs are incurred by the funds themselves. I can't find if the board members are political appointees, but if they are then their pay is included. If I remember correctly, only the Chairman is a ...
by gtwhitegold
Fri Feb 03, 2017 6:57 pm
Forum: Investing - Theory, News & General
Topic: Factor-Diversified Portfolio
Replies: 175
Views: 17064

Re: Factor-Diversified Portfolio

Betablocker, If you find that QSPIX suits your investment needs, then just wait for QSTIX, the Style Premia Series II fund. It should provide similar returns and diversification to an equity heavy portfolio, but it excludes commodities, currencies, and interest rate futures. Below is another thread ...
by gtwhitegold
Sat Jan 21, 2017 9:17 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1186
Views: 178456

Re: QSPIX - thoughts on interesting fund

My sentiments exactly. Well in the case of QSPIX (AQR Style Premia Alternative Fund) there IS an interesting benchmark that one could compare it against. AQR actualy runs a lower volatility version of QSPIX called QSLIX (AQR Style Premia Alternative Low Vol Fund). QSLIX targets half the volatility t...
by gtwhitegold
Sat Jan 21, 2017 8:40 pm
Forum: Investing - Theory, News & General
Topic: Holding Bonds as Opportunity to Buy Stocks
Replies: 17
Views: 2682

Re: Holding Bonds as Opportunity to Buy Stocks

Rather than focusing on RBDs (Really Bad Days) I personally focus on rebalancing bands in order to to maintain a set level of risk. I currently have a 5% tolerance band for my positions and try to rebalance whenever one position gets more than 5% out of my desired allocation. Relying on RBDs to reba...
by gtwhitegold
Fri Jan 20, 2017 11:23 pm
Forum: Investing - Theory, News & General
Topic: International equity allocation - do you tilt to EM?
Replies: 22
Views: 2149

Re: International equity allocation - do you tilt to EM?

I accept the fact that in order to obtain greater returns than the market, you have to take greater risk, so I have done so in a logical manner. I don't assume that I will necessarily outperform, but I believe that my portfolio is different enough to outperform and will hopefully do so. I have taken...
by gtwhitegold
Fri Jan 20, 2017 11:13 pm
Forum: Investing - Theory, News & General
Topic: Comparing EM value options [Emerging Market]
Replies: 35
Views: 3739

Re: Comparing EM value options [Emerging Market]

I would personally recommend looking into their mutual funds if you are going with Schwab funds. Similar returns, but you can avoid the bid/ask spreads for ETFs. Someone else can voice an opinion if they have more information. Below are the Schwab ETFs and Mutual Funds for their Fundamental Indices....
by gtwhitegold
Fri Jan 20, 2017 10:30 pm
Forum: Investing - Theory, News & General
Topic: International equity allocation - do you tilt to EM?
Replies: 22
Views: 2149

Re: International equity allocation - do you tilt to EM?

I personally overweight EM versus developed international stocks due to lower correlations with US stocks. This being said, my allocation for EM is only 27.6% of my portfolio.