Search found 5806 matches

by lack_ey
Sat Dec 16, 2017 9:01 pm
Forum: Investing - Help with Personal Investments
Topic: Bitcoin futures with Fidelity
Replies: 18
Views: 1318

Re: Bitcoin futures with Fidelity

Bitcoin Investment Trust maybe? https://eresearch.fidelity.com/eresearch/goto/evaluate/snapshot.jhtml?symbols=GBTC . I started following this when it was at 800 and felt it was too high and wanted to buy if it went to 500.Its 2700 now :( It's still trading around a 50% premium to NAV and has an ER ...
by lack_ey
Sat Dec 16, 2017 7:46 pm
Forum: Investing - Help with Personal Investments
Topic: VTSAX Price (?)
Replies: 2
Views: 416

Re: VTSAX Price (?)

If you submit the order after 4 PM, you get execution on the next business day on the price determined that day. That's past the cutoff.
by lack_ey
Sat Dec 16, 2017 7:06 pm
Forum: Investing - Help with Personal Investments
Topic: Bitcoin futures with Fidelity
Replies: 18
Views: 1318

Re: Bitcoin futures with Fidelity

How would you price a Bitcoin contract or determine fair value? Is there a uniform spot price? Is settlement in dollars, Bitcoin or what? Bitcoins are a liquid asset you can readily trade that have zero holding costs. Futures for these kinds of assets should be relatively close to spot, outside of ...
by lack_ey
Sat Dec 16, 2017 3:00 pm
Forum: Investing - Help with Personal Investments
Topic: Why does VTI have a fee of .04?
Replies: 10
Views: 1056

Re: Why does VTI have a fee of .04?

It's an investment fund, yes, operating as dictated under relevant law and regulations under the '40 Act like most mutual funds. It's not really charging a fee but taking money out of assets (well, dividend payouts from underlying holdings) to pay the fund sponsor/management and cover costs. The rat...
by lack_ey
Sat Dec 16, 2017 2:34 pm
Forum: Investing - Help with Personal Investments
Topic: Bitcoin futures with Fidelity
Replies: 18
Views: 1318

Re: Bitcoin futures with Fidelity

I don't think Fidelity offers futures trading, do they? Also should note that the CBOE contract is for 1 bitcoin (~$18,000), while CME contract is for 5 bitcoins (~$90,000), and of course you need to go long or short whole numbers of contracts. Not sure what the initial and maintenance margins would...
by lack_ey
Sat Dec 16, 2017 12:17 pm
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 85
Views: 2792

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

So, suppose a hypothetical Vanguard in 1926 decided to launch an S&P-500-like index fund, and a hypothetic AQR in 1926 decided to launch a long-short mutual fund that was intended to help investors improve a baseline stock market portfolio by making use of the value factor. Say we use SBBI Large Co...
by lack_ey
Sat Dec 16, 2017 11:44 am
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 85
Views: 2792

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

2) I investigated the possible portfolios formed by mixing different percentages of large stocks and the pure value factor, by calculating the mean, standard deviation, and correlation between large stocks and the value factor, calculating the efficient frontier (the "Markowitz bullet"), and the ta...
by lack_ey
Sat Dec 16, 2017 11:28 am
Forum: Investing - Theory, News & General
Topic: factor loading of emerging markets
Replies: 3
Views: 299

Re: factor loading of emerging markets

thanks! I was just using the factor regression tool on portfoliovisualizer. I don't know how accurate that tool is, especially for emerging markets. But if one looks at the average market cap and the P/E, p/b, p/cf etc of DEMSX/EWX it's obvious that they are tilted heavily towards small/value. With...
by lack_ey
Sat Dec 16, 2017 2:50 am
Forum: Investing - Theory, News & General
Topic: factor loading of emerging markets
Replies: 3
Views: 299

Re: factor loading of emerging markets

Do you have emerging markets factor data? I've never been able to find that myself. Closest fit might be Asia ex-Japan, as a lot of EM is there, but don't trust what that says too much because of the different country coverage. If you're regressing on US factor data, at times it's just not going to ...
by lack_ey
Fri Dec 15, 2017 10:26 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds-Is the "coupon" what we should expect for return??
Replies: 13
Views: 719

Re: Bonds-Is the "coupon" what we should expect for return??

No, you should expect the return to be on average closer to the yield (to maturity, or in some cases yield to worst). I think (but am not sure) that this is only true for Treasuries. At least, I've never seen any other bond used in the usual "yield predict return" charts. Plus, no one really thinks...
by lack_ey
Fri Dec 15, 2017 9:25 pm
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 85
Views: 2792

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

I fail to see your point. You absolutely can get exposure (with a loading strictly less than 1) to SmB and HmL using long-only (index, too) funds. People call these the Small and Value factors. What is your specific objection? As an aside to the actual point being made, I don't think that's quite r...
by lack_ey
Fri Dec 15, 2017 6:16 pm
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 85
Views: 2792

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

One of the things that I don't quite understand... I had originally thought that factors were extracted by a mathematical technique called factor analysis. I've never been deeply enough into it to know offhand just how that works. It's similar, but not identical to principal components analysis, wh...
by lack_ey
Fri Dec 15, 2017 5:18 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds-Is the "coupon" what we should expect for return??
Replies: 13
Views: 719

Re: Bonds-Is the "coupon" what we should expect for return??

No, you should expect the return to be on average closer to the yield (to maturity, or in some cases yield to worst). The yield considers both coupons as well as price movement. If a bond has one year remaining, pays $100 at maturity, is paying a $1 coupon this year, and is trading at $99 now, you e...
by lack_ey
Fri Dec 15, 2017 3:56 pm
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 85
Views: 2792

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

Aren't factors just correlations with lipstick applied? TJSi Correlations of what? I'm not sure how to interpret this, in the sense that there are logically maybe some words and concepts missing, like somebody stating that balls are just fitness. It's generally possible to compute correlations betw...
by lack_ey
Fri Dec 15, 2017 11:35 am
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 85
Views: 2792

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

But I don't have a non-market allocation. Yes or no, in your opinion, used the way you use the terminology, think it's generally used, and think it should be used... ...do you feel that I, holding only VTSMX (and Total International, VGTSX) am "knowingly or unknowingly exposed to factors such as si...
by lack_ey
Fri Dec 15, 2017 10:06 am
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 85
Views: 2792

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

I'm puzzled by this sentence: Almost all investors are knowingly or unknowingly exposed to factors such as size, value, yield, momentum, and risk. Two questions. First, what on earth is meant by "risk?" Is risk, itself, a factor? Is that a mistake, and did they mean to say "the market factor?" Or h...
by lack_ey
Thu Dec 14, 2017 8:02 pm
Forum: Investing - Theory, News & General
Topic: Moods of the U.S. Stock Market, 1990-2017
Replies: 30
Views: 2036

Re: Moods of the U.S. Stock Market, 1990-2017

I'm not as comfortable linking investor enthusiasm to P/E changes (multiple expansion). There are probably better and more direct measures of sentiment. Pricing isn't based on current earnings but rather future prospective earnings, potential future pricing, liquidity, projected risk, investor appet...
by lack_ey
Thu Dec 14, 2017 5:36 pm
Forum: Investing - Help with Personal Investments
Topic: For ETFs: Fidelity or Vanguard or others
Replies: 14
Views: 1237

Re: For ETFs: Fidelity or Vanguard or others

I think you'd want to first decide which ETFs you want to buy and then choose a provider who will allow you to buy and hold these for free. I do understand that there are those who will accept nothing but VTI. If that's the case, then either Vanguard or Merrill Edge are probably the places to consi...
by lack_ey
Wed Dec 13, 2017 11:42 pm
Forum: Investing - Theory, News & General
Topic: interest rate hike, bond went UP
Replies: 7
Views: 1836

Re: interest rate hike, bond went UP

Bond prices are directly related to the yields on those bonds. There's no direct relationship to short-term benchmark rates. Everybody went in expecting the Fed funds rate target to be raised 25 bp, which is what happened. That's the baseline universe around which the bonds were priced. If overall e...
by lack_ey
Wed Dec 13, 2017 9:01 pm
Forum: Investing - Theory, News & General
Topic: Vanguard to launch US 'smart beta' ETFs - Will this board burn down?
Replies: 133
Views: 12233

Re: Vanguard to launch US 'smart beta' ETFs - Will this board burn down?

Can someone explain to a novice like me why one would choose the multifactor mutual fund over the TSM fund? And vise versa Are you asking something more along the lines of (1) why invest in a fund that does these things or (2) why invest in Vanguard's specific fund doing these things? It's hard to ...
by lack_ey
Wed Dec 13, 2017 6:29 pm
Forum: Investing - Theory, News & General
Topic: Vanguard to launch US 'smart beta' ETFs - Will this board burn down?
Replies: 133
Views: 12233

Re: Vanguard to launch US 'smart beta' ETFs - Will this board burn down?

=== Bumping old thread. Replies above this are 8+ days old === There's a recent interview with John Ameriks of Vanguard about these upcoming ETFs: http://www.etf.com/sections/features-and-news/advantages-active-factor-investing?nopaging=1 Hougan : Active strategies? Ameriks : Yes, factors are active...
by lack_ey
Wed Dec 13, 2017 1:03 am
Forum: Investing - Theory, News & General
Topic: Vanguard Bond ETFs Attitude Toward Capital Gains Distributions
Replies: 4
Views: 359

Re: Vanguard Bond ETFs Attitude Toward Capital Gains Distributions

I think there was some speculation that it might have to do with the dual share structure, given that the Vanguard ETF shares the same underlying asset pool as a traditional mutual fund (e.g. VGIT and VSIGX). The mutual fund flows could cause sales that other pure ETFs could avoid (there can be net ...
by lack_ey
Tue Dec 12, 2017 11:25 pm
Forum: Investing - Help with Personal Investments
Topic: For ETFs: Fidelity or Vanguard or others
Replies: 14
Views: 1237

Re: For ETFs: Fidelity or Vanguard or others

I guess what could matter more if you're a more frequent trader may be trade execution more than commissions. If you're trading a lot in relatively large quantities, maybe Interactive Brokers? With $100k assets or more the monthly service charge of max($10 - brokerage commissions that month, 0) is w...
by lack_ey
Tue Dec 12, 2017 7:07 pm
Forum: Investing - Theory, News & General
Topic: Does any indicator not predict a 2000/2007'ish crash?
Replies: 47
Views: 2419

Re: Does any indicator not predict a 2000/2007'ish crash?

Oh no FAGIX is not a weird HYB fund. But any way I added a few other HYB funds with the same result. I have many more. Had to change the timeline slightly b/c some don't go all the way back to 97 but as you can see the same result. http://quotes.morningstar.com/chart/fund/chart?t=fagix®ion=usa&c...
by lack_ey
Tue Dec 12, 2017 6:56 pm
Forum: Investing - Theory, News & General
Topic: Does any indicator not predict a 2000/2007'ish crash?
Replies: 47
Views: 2419

Re: Does any indicator not predict a 2000/2007'ish crash?

Yes if you're certain there will be a crash the total bond is the way to go (actually you should do SH or another fund that returns negative of S&P), but if you feel a crash coming but you're not 100% sure then HYBs beat all of them. If you got into HYBs in 97 you'd currently be ahead of where you'...
by lack_ey
Tue Dec 12, 2017 6:36 pm
Forum: Investing - Theory, News & General
Topic: Does any indicator not predict a 2000/2007'ish crash?
Replies: 47
Views: 2419

Re: Does any indicator not predict a 2000/2007'ish crash?

Interestingly enough, high yield bonds lost to cash through that period. I think that's because back then MMFs paid a huge interest rate. Today, that line would be near-flat, similar story for high quality bonds e.g. Barclay's Int. Agg. Bonds are priced relative to cash, among other things (like ot...
by lack_ey
Tue Dec 12, 2017 6:16 pm
Forum: Investing - Theory, News & General
Topic: Does any indicator not predict a 2000/2007'ish crash?
Replies: 47
Views: 2419

Re: Does any indicator not predict a 2000/2007'ish crash?

Greenspan made his "irrational exuberance" speech in 1996, not 2000. He (and many other people) saw all the same signs you are seeing today. Yet the market MORE THAN DOUBLED from 1996 to 2000, before crashing 40%. Ironically, the market never got below the 1996 levels again. So 1996, when everythin...
by lack_ey
Tue Dec 12, 2017 2:10 pm
Forum: Investing - Theory, News & General
Topic: Total Bond vs. 70/30 Int. Treasury/High Yield Corporate
Replies: 9
Views: 770

Re: Total Bond vs. 70/30 Int. Treasury/High Yield Corporate

Why would people avoid the MBS in total bond after 2008 as opposed to before? If anything, the FNMA and FHLMC issues are safer than before. GNMA as before have the explicit govt guarantee. That's the vast majority of total bond's MBS, with a small slice of investment-grade commerical MBS remaining, ...
by lack_ey
Mon Dec 11, 2017 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: Does a tilt toward consumer staples make sense?
Replies: 15
Views: 816

Re: Does a tilt toward consumer staples make sense?

Probably right about reading newsletters. The rationale was that if/when the total stock market goes down, that perhaps consumer staples would do better relatively speaking. Even as I write this, I realize that whether or not it makes sense in terms of the economy, my portfolio is fine and needs to...
by lack_ey
Mon Dec 11, 2017 2:12 pm
Forum: Investing - Help with Personal Investments
Topic: Does a tilt toward consumer staples make sense?
Replies: 15
Views: 816

Re: Does a tilt toward consumer staples make sense?

Why consumer staples specifically, why $139 specifically, and why are you reading these kinds of newsletters in the first place? How much would you tilt, and what would be the trigger to untilt? What kind of effect do you expect? I can provide more thoughts if you explain your own reasoning. Otherwi...
by lack_ey
Mon Dec 11, 2017 1:40 pm
Forum: Investing - Help with Personal Investments
Topic: What's the case for including foreign developed & emerging markets with a 10-12 year outlook on retirement
Replies: 60
Views: 2735

Re: What's the case for including foreign developed & emerging markets with a 10-12 year outlook on retirement

Why backtest such a short period of time and draw conclusions about relative returns from that? Or is this some kind of theoretical exercise? You're not possibly extrapolating forward the relative return trends over this kind of period, are you? If anything, historically this is a timeframe where yo...
by lack_ey
Sun Dec 10, 2017 11:25 pm
Forum: Investing - Theory, News & General
Topic: Do ETFs have the same issue as mutual funds at year end (distributions)?
Replies: 12
Views: 1676

Re: Do ETFs have the same issue as mutual funds at year end (distributions)?

Depends on the ETF and mutual fund. With respect to dividends, ETFs have to distribute those just as mutual funds do. ETFs do tend to have less capital gains distributions than mutual funds, though. For one, most ETFs are index funds and have lower turnover than the typical mutual fund, which is act...
by lack_ey
Sun Dec 10, 2017 10:30 pm
Forum: Investing - Theory, News & General
Topic: What mix of intermediate and short term bonds?
Replies: 45
Views: 2532

Re: What mix of intermediate and short term bonds?

If you want to optimize FI, use CDs as part of the picture. You get higher yields compared to comparable maturity Treasuries. With direct bank CDs you get lower term risk too, via early withdrawals even under penalty. Obviously you still want some funds and/or cash for the higher liquidity, but you ...
by lack_ey
Sun Dec 10, 2017 8:57 pm
Forum: Investing - Help with Personal Investments
Topic: Dividends ETF
Replies: 7
Views: 585

Re: Dividends ETF

Ha. But I think he meant ETFs with the word "dividend" in the name. But wait, the yield on VDADX is less than the yield on VFIAX and not much more than the yield on VTSAX. (Yeah, I'm not telling anyone what those tickers are, either.) Joke's on you—the DA in VDADX is probably dividend appreciation,...
by lack_ey
Sun Dec 10, 2017 8:52 pm
Forum: Investing - Theory, News & General
Topic: Vanguard economic and market outlook for 2018
Replies: 27
Views: 2524

Re: Vanguard's 2018 Outlook has extremely low expected returns

Taylor, it's the 2018 edition investment outlook, not the outlook for year 2018. In some key ways the latter is more unpredictable. Obviously a lot of uncertainty in both. In any case, I don't think this really counts as "extremely low expected returns" and in fact some others using different models...
by lack_ey
Sun Dec 10, 2017 6:29 pm
Forum: Investing - Theory, News & General
Topic: Do DFA Funds have lower trading costs than Index Funds?
Replies: 32
Views: 1465

Re: Do DFA Funds have lower trading costs than Index Funds?

The index front-running issue can be mitigated but maybe not eliminated. This affects the indexes themselves, too, not just the performance of funds relative to the index, as stocks are traded up or down prior to the index changing. You can predict which stocks are likely going to switch indexes, ju...
by lack_ey
Sun Dec 10, 2017 5:15 pm
Forum: Investing - Theory, News & General
Topic: Do DFA Funds have lower trading costs than Index Funds?
Replies: 32
Views: 1465

Re: Do DFA Funds have lower trading costs than Index Funds?

Nate79 wrote:
Sun Dec 10, 2017 5:03 pm
Until these funds are accessible to the general public not thru an advisor and the advisory fee it doesn't really matter.
Here you go. e.g. JHML

The John Hancock ETFs run by DFA should be available to anyone.
by lack_ey
Sun Dec 10, 2017 3:02 pm
Forum: Investing - Theory, News & General
Topic: Do DFA Funds have lower trading costs than Index Funds?
Replies: 32
Views: 1465

Re: Do DFA Funds have lower trading costs than Index Funds?

Sure, this has been one of the points DFA has made for a long time. This is one of the advantages to not following an index, really. Decent index fund managers are cognizant of trading costs too, but they have a mandate on performance (keeping transaction costs low) as well as tracking consistency w...
by lack_ey
Sun Dec 10, 2017 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Help Choosing a Fidelity Bond Index Fund
Replies: 19
Views: 998

Re: Help Choosing a Fidelity Bond Index Fund

Good catch! Mmmm...maybe I should switch to the index fund, except that I like that the returns of FTBFX have been greater over the past 10 years. I do see though, like Mr. Larimore pointed out, that FSITX faired better around 2009. Thanks for correcting my mistake. By taking more credit risk, yes,...
by lack_ey
Sun Dec 10, 2017 11:57 am
Forum: Investing - Theory, News & General
Topic: Would a Bitcoin Crash affect the general markets?
Replies: 25
Views: 1913

Re: Would a Bitcoin Crash affect the general markets?

To answer with a question,... what does it do to the general market when it's not crashing, or even rising rapidly? :happy Also, hasn't Bitcoin crashed at least a few times already... over 80% one of the times? The market didn't care. In 2011 from $32 to under $3 within a few months. In earlier 201...
by lack_ey
Sat Dec 09, 2017 7:07 pm
Forum: Investing - Theory, News & General
Topic: Examining Total Portfolio Performance: U.S. Government Vs. Corporate Bonds
Replies: 2
Views: 294

Re: Examining Total Portfolio Performance: U.S. Government Vs. Corporate Bonds

Just on a quick glance I wanted to check the data series used. They're using Morningstar’s Long-Term Corporate Bond Index (maturities 7+ yr, credit quality AAA/AA) and Morningstar’s U.S. Long-Term Government Bond Index (maturities 7+ yr). The effect and difference is smaller because these are high-q...
by lack_ey
Sat Dec 09, 2017 6:49 pm
Forum: Investing - Help with Personal Investments
Topic: Help Choosing a Fidelity Bond Index Fund
Replies: 19
Views: 998

Re: Help Choosing a Fidelity Bond Index Fund

It's the only total bond index fund Fidelity runs ("total" meaning most of the investment-grade US taxable bond market, excluding some small issues, inflation-linked bonds, floating-rate bonds, etc.). Total bond index funds, if you don't specify anything, usually refer to those that follow the Bloom...
by lack_ey
Sat Dec 09, 2017 5:20 pm
Forum: Investing - Theory, News & General
Topic: TSM vs High Dividend Yield if I never choose to sell?
Replies: 36
Views: 2299

Re: TSM vs High Dividend Yield if I never choose to sell?

You'll end up with slightly lower returns, all else equal, for similar risk, on account of higher dividends resulting in higher taxation. It doesn't matter outside of taxes the percentage of returns that comes from capital appreciation as opposed to dividends. Any amount of dividends not reinvested ...
by lack_ey
Sat Dec 09, 2017 12:02 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity iShares vs Index Funds for Rollover IRA
Replies: 5
Views: 340

Re: Fidelity iShares vs Index Funds for Rollover IRA

On the other hand, I gather that some of the issues against ITOT are it may not have enough trades in a day and that the spread can be too large. ITOT typically gets $36 million in trades a day, with a usual spread of $0.02 (relative to around $60 share price). That's not as good as some alternativ...
by lack_ey
Sat Dec 09, 2017 12:39 am
Forum: Investing - Theory, News & General
Topic: Are Bonds ever better than a Fund?
Replies: 10
Views: 1126

Re: Are Bonds ever better than a Fund?

Aren't there a lot of reasons given in the other threads? There are plenty of potential benefits for at least some potential scenarios. If you manage yourself, you save on fund expenses. You can do more precise liability matching if you have known spending needs, which most generally don't. You can ...
by lack_ey
Fri Dec 08, 2017 8:37 pm
Forum: Investing - Help with Personal Investments
Topic: Bond vs Bond Fund? why funds?
Replies: 25
Views: 1646

Re: Bond vs Bond Fund? why funds?

I guess I'm worried about losing 15% in a bond fund when rates skyrocket. hence the interest in individual bonds. but perhaps that's not a good option for me. There's interest rate risk and you lose money whether you have individual bonds or you own a fund that owns individual bonds. If you're regu...
by lack_ey
Fri Dec 08, 2017 6:55 pm
Forum: Investing - Theory, News & General
Topic: Vanguard economic and market outlook for 2018
Replies: 27
Views: 2524

Re: Vanguard economic and market outlook for 2018

A quick read of this report from a fixed income perspective, returns for cash versus bond funds just looks good. Really brings up the question again of cd and bonds. Personally I have a mixture of both but sometimes question my need for bond funds. bj Well, it's quite possible people are yet again ...
by lack_ey
Fri Dec 08, 2017 11:45 am
Forum: Investing - Theory, News & General
Topic: Vanguard economic and market outlook for 2018
Replies: 27
Views: 2524

Re: Vanguard economic and market outlook for 2018

Thanks for that info. Maybe I should add CRED to my bond world. I simply have AGG to cover all bonds. And a big chunk in municipal bonds. You know AGG (following the BB Aggregate) already has all those USD corporate bonds and yankee bonds? If you want coverage outside of AGG (other than tax-exempt ...
by lack_ey
Fri Dec 08, 2017 10:43 am
Forum: Investing - Theory, News & General
Topic: Vanguard economic and market outlook for 2018
Replies: 27
Views: 2524

Re: Vanguard economic and market outlook for 2018

Seems to be a very different opinion than those of GMO and Research Affiliates, based on recent holdings of their go-anywhere funds. For example, RA's fund is short US equity, and both are heavy on EM. In recent papers from GMO, EM equity is seen as more reasonably priced than the rest of the world...
by lack_ey
Fri Dec 08, 2017 1:35 am
Forum: Investing - Theory, News & General
Topic: The International Index and the Relentless Rules of Humble Arithmetic
Replies: 8
Views: 1125

Re: The International Index and the Relentless Rules of Humble Arithmetic

The median fund, average fund (dollar weighted or equal weighted), and median investor can all beat the market for any given market. Doesn't matter if it's domestic or international. Most of what you see here when comparing a market index fund to the category average (where you expect alpha among fu...