Search found 159 matches

by gtwhitegold
Sun Feb 19, 2017 7:37 am
Forum: Investing - Theory, News & General
Topic: TSP Expense Ratio jumps to 0.038%
Replies: 56
Views: 4755

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: 7
Views: 1019

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: 60
Views: 4108

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: 7
Views: 1019

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: 3066

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: 13890

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: 1182
Views: 162558

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: 2413

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: 1754

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: 2781

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: 1754

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.
by gtwhitegold
Fri Jan 20, 2017 6:43 pm
Forum: Investing - Theory, News & General
Topic: What are the global market cap weights today?
Replies: 10
Views: 719

Re: What are the global market cap weights today?

My complaint with using a fund is that this is an approximation. It doesn't include Chinese 'A' Shares, stocks listed outside of their host country, or frontier market stocks. It also performs sampling of holdings, which throws things off. I'm sure that I'm missing something, but you should get the ...
by gtwhitegold
Fri Jan 20, 2017 6:32 pm
Forum: Investing - Theory, News & General
Topic: "The Year in Alternative Funds: A Bumpy Road With Some Bright Spots"
Replies: 21
Views: 2211

Re: "The Year in Alternative Funds: A Bumpy Road With Some Bright Spots"

I understand the risks involved and that the projected long-term correlation is near zero. With the volatility constraints of the fund, it's possible, but I doubt that it will just explode meaning a total loss of investment. This along with QSPNX are the 2 alternative funds that I intend to include ...
by gtwhitegold
Fri Jan 20, 2017 7:46 am
Forum: Investing - Theory, News & General
Topic: "The Year in Alternative Funds: A Bumpy Road With Some Bright Spots"
Replies: 21
Views: 2211

Re: "The Year in Alternative Funds: A Bumpy Road With Some Bright Spots"

This along with QSPNX are the 2 alternative funds that I intend to include in my portfolio. Both are only slightly positively correlated with each other and bonds, but negatively correlated with equities. I would have created a position last year if I wasn't trying ensure that both my wife and I had...
by gtwhitegold
Thu Jan 19, 2017 7:29 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1182
Views: 162558

Re: QSPIX - thoughts on interesting fund

Almost all AQR funds are advisor only now (including (QSPIX/QSPNX) with Scottrade. What are the ways to access AQR funds? They mention a pretty high mininum for at least QSPIX. Thanks AQR Style Premia (QSP*X where * = {N, I, R}) is closed to new investors, as is the low volatility version (QSL*X), o...
by gtwhitegold
Fri Jan 13, 2017 9:06 pm
Forum: Investing - Theory, News & General
Topic: Factor-Diversified Portfolio
Replies: 175
Views: 13890

Re: Factor-Diversified Portfolio

Jocdoc, My response would be as much as you can tolerate, or as much as your capacity allows. I only have access to 5 basic funds in my employer's account (Thrift Savings Plan), so any factors other than a small cap tilt have to be done outside of my TSP which is what I have done. I'm focusing on em...
by gtwhitegold
Thu Jan 12, 2017 2:03 am
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Equity Funds
Replies: 26
Views: 2454

Re: AQR Relaxed Constraint Equity Funds

Got it. For some reason I thought that Value was either flat or slightly positive.
by gtwhitegold
Thu Jan 12, 2017 1:59 am
Forum: Investing - Theory, News & General
Topic: More in 401k. tIRA ,ect
Replies: 3
Views: 362

Re: More in 401k. tIRA ,ect

I agree with this as well as beefing up Social Security for people without a pension.
by gtwhitegold
Wed Jan 11, 2017 9:20 pm
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Equity Funds
Replies: 26
Views: 2454

Re: AQR Relaxed Constraint Equity Funds

I know about the crash in momentum, but value should have offset it in a balanced portfolio. I guess that the short side of quality may have been the part that pushed the overall portfolio down in those funds. One thing that I wasn't able to get from D. E. Shawn & Co.'s paper is how they believe...
by gtwhitegold
Tue Jan 10, 2017 6:06 pm
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Equity Funds
Replies: 26
Views: 2454

Re: AQR Relaxed Constraint Equity Funds

One thing that I wasn't able to get from D. E. Shawn & Co.'s paper is how they believe that the quant funds underperformed. Was it due to a small number of stocks monitored, limitations on shorting stocks or something else. If someone has a good reference for me to better understand this I would...
by gtwhitegold
Mon Jan 09, 2017 6:01 pm
Forum: Investing - Theory, News & General
Topic: Value investing: you must pay for your lunch -- sometimes a lot.
Replies: 52
Views: 5954

Re: Value investing: you must pay for your lunch -- sometimes a lot.

Larry, I don't think that I will pursue it, but I'm curious. Is reinsurance available to retail investors? It sounds like something only available to "well qualified investors." LT Well that's my portfolio, but more recently have added reinsurance and alternative lending, taking it from th...
by gtwhitegold
Fri Jan 06, 2017 5:50 am
Forum: Investing - Theory, News & General
Topic: Leveraging the Barclays Aggregate Bond Index
Replies: 4
Views: 540

Re: Leveraging the Barclays Aggregate Bond Index

My recommendation would be to just extend your duration. If you are trying to match the quality of the Barclay's Aggregate Bond Index, just invest in a fund like VBLTX/BLV and match your intend duration to that.
by gtwhitegold
Fri Jan 06, 2017 4:24 am
Forum: Investing - Theory, News & General
Topic: Thoughts on ishares multifactor ETFs?
Replies: 16
Views: 1855

Re: Thoughts on ishares multifactor ETFs?

I don't have any of the iShares multi-factor ETFS, but I am considering buying ISCF. There aren't many inexpensive multi-factor funds available to retail customers. I'm using AQR where available and I'm still looking for a better EM small cap fund.
by gtwhitegold
Sat Dec 31, 2016 1:37 pm
Forum: Investing - Theory, News & General
Topic: Changes in Emerging Market Funds
Replies: 3
Views: 605

Re: Changes in Emerging Market Funds

While I agree that EM equities will be more correlated with DM, I do see a purpose in having an EM position. I don't really see anything new of value in this article.
by gtwhitegold
Fri Dec 30, 2016 12:51 am
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Equity Funds
Replies: 26
Views: 2454

Re: AQR Relaxed Constraint Equity Funds

This is why I doubt that AQR will ever issue any CEFs. Any strategies that AQR has that they don't consider liquid enough for retail open-ended mutual funds will only be issued as non-40 Act funds to qualified institutional investors. That may also be the answer to my earlier question about Internat...
by gtwhitegold
Thu Dec 29, 2016 9:29 am
Forum: Investing - Theory, News & General
Topic: AQR Relaxed Constraint Equity Funds
Replies: 26
Views: 2454

Re: AQR Relaxed Constraint Equity Funds

I'm also interested in these funds and curious if they have stronger factor loads than the Multi-Style funds. If they do, I'm interested, but I find it questionable due to the tracking error constraints.

I'm also curious if AQR will ever release an International or Emerging Markets small cap funds.
by gtwhitegold
Sat Dec 17, 2016 10:08 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe's New Book is Available Now!
Replies: 155
Views: 16982

Re: Larry Swedroe's New Book is Available Now!

You can use the regression tool at portfoliovisualizer to check your funds, at least the domestic ones. I've noticed this to be a recurring problem with international funds. I get impossible numbers for either positive or negative alpha when I try to run regressions. I imagine that it's due to diff...
by gtwhitegold
Mon Jul 25, 2016 7:34 am
Forum: Investing - Theory, News & General
Topic: ETF.com ETF ratings
Replies: 10
Views: 956

Re: ETF.com ETF ratings

I believe that tracking efficiency is more important than expense ratio especially for funds with similar expense ratios. (Given the assumption that they are tracking the same index.)
by gtwhitegold
Mon Jul 25, 2016 5:55 am
Forum: Investing - Theory, News & General
Topic: I'm Calling an Emerging Markets Bottom
Replies: 223
Views: 34588

Re: I'm Calling an Emerging Markets Bottom

I'm still down around 16% in my EM and FM investments, but I'm still adding to them. I just rebalanced a little of my US SC fund into EM SCV and will continue to trim positions in asset classes that I am over my allocation as I can and and them to my EM/FM allocation.
by gtwhitegold
Sun Jul 17, 2016 8:11 am
Forum: Investing - Theory, News & General
Topic: EM vs DM in International
Replies: 18
Views: 2528

Re: EM vs DM in International

I treat my portfolio similarly. I have an even divide between US and International with 60% of my International in EM. I also only hold factor oriented funds where possible. I am using AQR's Multi-Style funds where possible and supplementing those with FEMS and ISCF for international small caps. I p...
by gtwhitegold
Sat Jul 09, 2016 2:42 am
Forum: Investing - Theory, News & General
Topic: EM vs DM in International
Replies: 18
Views: 2528

Re: EM vs DM in International

I personally am trying to overweight EM stocks in my portfolio. I have a target of 29% of my equities in EM since they have historically been a better diversifier than DM ex US equities.

I include South Korea and Taiwan as EM for consistency purposes.
by gtwhitegold
Mon Jun 06, 2016 2:49 am
Forum: Investing - Theory, News & General
Topic: Continuing my series-does active management in EM add value?
Replies: 7
Views: 1053

Re: Continuing my series-does active management in EM add value?

I personally use AQR'S multi-style EM fund, QEELX for EM large caps and First Trust's AlphaDEX EM Small Cap ETF, FEMS for EM small caps. I do wish that there was better selection for quantitative EM small cap funds for people without access to DFA.
by gtwhitegold
Fri Jun 03, 2016 6:03 pm
Forum: Investing - Theory, News & General
Topic: Fidelity mobile application
Replies: 8
Views: 1063

Re: Fidelity mobile application

I just use the app to monitor positions. Any trades or research on available funds is done on the website normally.
by gtwhitegold
Wed May 18, 2016 9:19 pm
Forum: Investing - Theory, News & General
Topic: AQR Style Premia Alternative (QSPIX) to close; AQR Style Premia Alternative II to open
Replies: 82
Views: 10591

Re: AQR Style Premia Alternative (QSPIX) to close; AQR Style Premia Alternative II to open

blues008 wrote:QSPNX was still available at Schwab for a $100 minimum investment and no fee.


Were you able to actually invest in that fund? I ask because all AQR funds are marked as institutional only at Schwab.
by gtwhitegold
Wed May 18, 2016 7:39 am
Forum: Investing - Theory, News & General
Topic: Investing passively in inefficient markets
Replies: 11
Views: 1082

Re: Investing passively in inefficient markets

I don't believe in stock selection in any market. I invest in index and style based funds like AQR's where I can. I do intend to purchase an active EM SCV fund, but that's only because there isn't much available in that arena that's passive or style based.
by gtwhitegold
Wed May 18, 2016 7:01 am
Forum: Investing - Theory, News & General
Topic: What % do you have in alternatives? REITs, commodities, etc.)
Replies: 67
Views: 4867

Re: What % do you have in alternatives? REITs, commodities, etc.)

3% in QSPNX. Intending to add some QMHNX next year for my Roth IRA contribution.
by gtwhitegold
Sat Mar 19, 2016 12:04 am
Forum: Investing - Theory, News & General
Topic: "Improving Your Finances Opting for Index Funds? Don't Set Yourself Up for Disappointment"
Replies: 3
Views: 1233

Re: "Improving Your Finances Opting for Index Funds? Don't Set Yourself Up for Disappointment"

The best part about this article is that it tries to reinforce good behavior. Having a well thought out plan and sticking to it is the best possible thing you can do. Have a good reason to change funds. Don't act impulsively. That's how you lose money.
by gtwhitegold
Sat Mar 05, 2016 11:46 pm
Forum: Investing - Theory, News & General
Topic: Poll: Active Funds in Which You Invest
Replies: 76
Views: 5806

Re: Poll: Active Funds in Which You Invest

I consider DFA and AQR funds to be rules based active funds. So, that being said, I hold several active funds. QSPNX - AQR Style Premia QEELX - AQR Emerging Markets Multi-Style QSMNX - AQR US Small Cap Multi-Style QICNX - AQR International Multi-Style IEIS - iShares Enhanced International Small Cap ...
by gtwhitegold
Sat Mar 05, 2016 6:59 am
Forum: Investing - Theory, News & General
Topic: Wealthfront uses 5-14% emerging market bonds -- thoughts?
Replies: 16
Views: 1573

Re: Wealthfront uses 5-14% emerging market bonds -- thoughts?

If you are only going to hold one, then I would hold local currency EM bonds. Personally, I don't hold EM bonds currently, but I am considering adding a small slice of local and hard currency sovereigns as well as possibly corporates, but they are still a risk asset to me, and will never replace US ...
by gtwhitegold
Sat Mar 05, 2016 4:35 am
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets Small Cap Value
Replies: 53
Views: 5909

Re: Emerging Markets Small Cap Value

I have used EEMS in the past for EMSC, but I'm trying to have a more focused quantitative portfolio. Right now, I'm using QEELX/QEENX for EMLC. The reason that I had mentioned South Korea is that I would prefer to have similar country exposures in the funds that I invest in. This is a similar proble...
by gtwhitegold
Wed Mar 02, 2016 9:51 pm
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets Small Cap Value
Replies: 53
Views: 5909

Re: Emerging Markets Small Cap Value

Angst, I normally do that and GTS before I post any questions. It looks like all of the EM SC mutual funds have a pretty high expense ratio and a vast majority have a pretty substantial growth tilt. Livesoft, Thanks, I am using FEMS now, but after the change in index, it has less of a value tilt tha...
by gtwhitegold
Wed Mar 02, 2016 7:02 pm
Forum: Investing - Help with Personal Investments
Topic: Maxed out 401k, young high-income earner--what to do next?
Replies: 14
Views: 1882

Re: Maxed out 401k, young high-income earner--what to do next?

You only need 1 Roth IRA and 1 Traditional IRA. The Traditional to contribute to and the Roth to roll over to. Minor follow-up question: If I do a backdoor Roth each year as advised, will I necessarily end up with separate Roth accounts for each year, or is there a way to consolidate all the backdoo...
by gtwhitegold
Wed Mar 02, 2016 9:35 am
Forum: Investing - Theory, News & General
Topic: Maxing Roth 401K vs Trad 401K
Replies: 47
Views: 4861

Re: Maxing Roth 401K vs Trad 401K

I personally use Roth accounts for both my TSP and IRAs, but it really depends on the individual. I would recommend Roth accounts for everyone in the 15% tax bracket and below and it would depend for people in higher tax brackets. If you can afford to maximize both in Roth accounts, then you're prob...
by gtwhitegold
Wed Mar 02, 2016 9:28 am
Forum: Investing - Theory, News & General
Topic: A look at Emerging Markets, recency bias, and diversification
Replies: 32
Views: 4170

Re: A look at Emerging Markets, recency bias, and diversification

Great article Larry, and I'm not just saying it because I share the same view.

If one part of your portfolio isn't falling, then you're probably doing something wrong.

Hopefully EM and EMV/SCV both will have great returns in the not so distant future.
by gtwhitegold
Wed Mar 02, 2016 8:26 am
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets Small Cap Value
Replies: 53
Views: 5909

Emerging Markets Small Cap Value

Looking for some guidance here and thanks in advance. Since I don't have access to DFA and I don't like the fundamentals of the available EM SC ETFs, specifically, DGS, EEMS and EWX. I am looking for a different EM SCV mutual fund. The only one that I have seen that is really value oriented is rathe...
by gtwhitegold
Fri Feb 05, 2016 8:15 pm
Forum: Investing - Theory, News & General
Topic: QSPIX Nightmare - Closed Off to Retail Investors
Replies: 181
Views: 26245

Re: QSPIX Nightmare - Closed Off to Retail Investors

Scottrade has almost completely locked out AQR funds for retail investors. I recently created positions in QSPNX at Fidelity. Here is an example of the message that I'm now seeing in my Scottrade account for AQR funds: QSPIX is an Advisor Class fund, which is available to investors who are working w...
by gtwhitegold
Sun Jan 31, 2016 8:56 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1182
Views: 162558

Re: QSPIX - thoughts on interesting fund

Upon review of the proposal, it would greatly depend upon how the rule was written whether or not it would actually require AQR to reduce leverage of their hedge fund style funds. I have not read the SEC proposal, but I believe that one possible solution is to do something similar to what PIMCO is d...
by gtwhitegold
Sun Jan 31, 2016 8:25 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1182
Views: 162558

Re: QSPIX - thoughts on interesting fund

I have not read the SEC proposal, but I believe that one possible solution is to do something similar to what PIMCO is doing with the PLUS series of funds which have half of their portfolio implemented using total return swaps. If that's the case, AQR may not have any actual transactions aside from ...
by gtwhitegold
Fri Jan 29, 2016 9:22 pm
Forum: Investing - Theory, News & General
Topic: "Are You Holding Your Assets in the Right Types of Accounts?"
Replies: 5
Views: 1730

Re: "Are You Holding Your Assets in the Right Types of Accounts?"

I agree, but I don't implement it like that because my traditional TSP doesn't have the fixed income funds that I want. All of my IRAs and a growing part of my TSP are Roth contributions. I'm hoping for TSP in plan conversions in the future. It also makes sense to adjust between Traditional/Roth IRA...

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