Search found 1640 matches

by matjen
Wed Aug 16, 2017 5:35 pm
Forum: Investing - Help with Personal Investments
Topic: a simple world wide portfolio
Replies: 6
Views: 470

Re: a simple world wide portfolio

Sounds good to me. Though I would just buy VT and have one fund. I think the major difference would be about 5% less emerging markets but the advantage is that it balances itself automatically.

http://portfolios.morningstar.com/fund/ ... ture=en_US
by matjen
Tue Aug 15, 2017 6:53 am
Forum: Investing - Theory, News & General
Topic: Bill Sharpe's preferred portfolio
Replies: 70
Views: 11740

Re: Bill Sharpe's preferred portfolio

These posts by Robert T. may be of interest to those looking at Sharpe's stuff. https://www.bogleheads.org/forum/viewtopic.php?f=10&t=221254&newpost=3424179&start=50#p3419283 Using an indicative ‘market portfolio’ of: 30% US stocks 25% non-US stocks 23% US bonds 22% Non-US bonds (re: pg 22 of Bill S...
by matjen
Mon Aug 14, 2017 9:47 am
Forum: Investing - Theory, News & General
Topic: What a Low Return Outlook Means for Your Retirement?
Replies: 42
Views: 5101

What a Low Return Outlook Means for Your Retirement?

I thought this was quite a nice article on retirement success. Optimists will likely not like it. For me a flaw is that it is only taking into account US equities. High valuations of core assets in the U.S. suggest that retirement withdrawal rates that were once safe may now deliver success rates th...
by matjen
Tue Aug 08, 2017 7:11 pm
Forum: Investing - Theory, News & General
Topic: Deja Vu.. are there too many houses for sale?
Replies: 47
Views: 4136

Re: Deja Vu.. are there too many houses for sale?

The whole premise of that article is silly. That man has fixated on one neighborhood. There are plenty of decent neighborhoods in Philadelphia where $200k can buy a lot of house. You can't pick up a habitable rowhouse there for $10k like you could during the financial crisis, but you can certainly ...
by matjen
Tue Aug 08, 2017 4:01 pm
Forum: Investing - Theory, News & General
Topic: Deja Vu.. are there too many houses for sale?
Replies: 47
Views: 4136

Re: Deja Vu.. are there too many houses for sale?

Well this is timely.

Baby Boomers Who Refuse to Sell Are Dominating the Housing Market
https://www.bloomberg.com/news/articles ... ing-market
by matjen
Tue Aug 08, 2017 3:13 pm
Forum: Investing - Theory, News & General
Topic: Another Great Post from AQR's Cliff Asness
Replies: 5
Views: 1441

Re: Another Great Post from AQR's Cliff Asness

Where is the evidence that factors in general are reasonably priced relative the market as a whole? I am willing to learn if someone has this information. Garland Whizzer I'm not sure much of anyone of note agrees with Arnott. Without looking again I bet the footnotes show the AQR papers/responses ...
by matjen
Mon Aug 07, 2017 7:10 pm
Forum: Investing - Theory, News & General
Topic: Another Great Post from AQR's Cliff Asness
Replies: 5
Views: 1441

Another Great Post from AQR's Cliff Asness

A nice overview of the 2007 Quant Quake and factor investing in general. Per usual, the footnotes are not to be missed. It would be an interesting contest, and perhaps a future blog topic, to come up with the single biggest common investment error out there.[24] But one candidate would surely be ove...
by matjen
Fri Aug 04, 2017 3:37 pm
Forum: Investing - Theory, News & General
Topic: GoogleFinance ticker problems with IShare funds
Replies: 4
Views: 350

Re: GoogleFinance ticker problems with IShare funds

I have been having the same issue. Glad to know I am not alone. :(
by matjen
Mon Jul 24, 2017 8:29 pm
Forum: Investing - Theory, News & General
Topic: Wes Gray on MTUM and discrepancy with Momentum
Replies: 7
Views: 759

Re: Wes Gray on MTUM and discrepancy with Momentum

matjen, which is closer to your personal view? a) This means MTUM is good, because it's all about the moolah, the spondulix, the Benjamins. b) This means MTUM is bad, because it's not doing what it's supposed to do. c) No strong opinion! I don't own MTUM or do much with the momentum factor other th...
by matjen
Mon Jul 24, 2017 6:35 pm
Forum: Investing - Theory, News & General
Topic: Wes Gray on MTUM and discrepancy with Momentum
Replies: 7
Views: 759

Wes Gray on MTUM and discrepancy with Momentum

Interesting article on why MTUM is killing it this year yet the academic version of the Momentum Factor isn't. Being long only rather than long/short is helping this year but there is more to it. MTUM doesn’t use the 2-12 momentum measure exclusively, but a mix of metrics developed by MSCI. They loo...
by matjen
Tue Jul 18, 2017 8:58 pm
Forum: Personal Consumer Issues
Topic: A week in Iceland
Replies: 28
Views: 1718

Re: A week in Iceland

We are going last few days in August and first week of September. Driving the Ring Road. Pretty much following this exact itinerary.

http://www.alexcornell.com/iceland-travel-guide/
by matjen
Sun Jul 16, 2017 8:20 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1186
Views: 174440

Re: QSPIX - thoughts on interesting fund

I haven't sold any QSPIX but the market run up has moved me closer to 6% now. I'll stick with that and I have some of Stone Ridge's LENDX and will likely add some SRRIX. Perhaps 10-15% between the three. I assume you have to have an advisor to buy SRRIX? That is my understanding. On the recent alte...
by matjen
Sun Jul 16, 2017 7:50 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1186
Views: 174440

Re: QSPIX - thoughts on interesting fund

matjen Let's not hope for too many more of those type days (:-)) Larry Crud! I forgot I am 7% QSPIX and not 70% matjen, does it seem like you'll be sticking to "7% in QSPIX" for the long run? thanks I haven't sold any QSPIX but the market run up has moved me closer to 6% now. I'll stick w...
by matjen
Wed Jul 12, 2017 8:23 pm
Forum: Investing - Help with Personal Investments
Topic: International Value Tilting
Replies: 29
Views: 2013

Re: International Value Tilting

How much of the performance difference is due to size as opposed value? I don't know. Could be other reasons as well. A bit more emerging markets in DWUSX (though they were horrid a few years ago). If you add Vanguard FTSE All-World ex-US Small-Cap Index Fund ETF Shares to that chart it does even w...
by matjen
Wed Jul 12, 2017 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: International Value Tilting
Replies: 29
Views: 2013

Re: International Value Tilting

I tilt toward value internationally via DFA's World ex US Targeted Val Instl DWUSX. Pricey ER but it has performed exceptionally well. An all-in-one international value fund tilted toward small and mid-cap value including 20% toward emerging markets. Here is is in comparison to Vanguard Total Intern...
by matjen
Wed Jul 12, 2017 4:13 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

Matjen, what happened to that reinsurance fund that the Long Term Capital Management folks started? Did they have to abandon it when LTCM failed? I wondered the same thing and couldn't find anything on it. I'm going to assume they lost it. What many don't realize is that LTCM gave almost all the mo...
by matjen
Wed Jul 12, 2017 3:55 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

Nedsaid, It is my understanding that Larry has pretty much devoted his entire tax sheltered space to LENDX. SRRIX and QSPIX (and this other Stone Ridge Fund Grap mentioned). He is a HNW individual though so that is probably 10-15% of his portfolio is my guess. I recently read Roger Lowenstein's book...
by matjen
Mon Jul 10, 2017 6:24 am
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

thanks Dave. i guess i would be cautious about any analysis on momentum out of AQR. Tough to separate the true research from the marketing spin. As Buffet would say, don't ask the barber if you need a haircut. Lot's of backtesting and clever period-selection stuff in their papers. For example they ...
by matjen
Mon Jul 10, 2017 6:09 am
Forum: Personal Consumer Issues
Topic: Background Jazz
Replies: 5
Views: 697

Re: Background Jazz

Sign up for Google Play Music. It is free with a commercial every 15 minutes or so perhaps. They have a whole section for music while working or studying, etc. Station titles like: Mellow Jazz, Jazz while reading. Jazz Focus, etc.
by matjen
Sun Jul 09, 2017 7:42 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

And I would also factor in the very real hassle of dealing with a human advisor. To me, that would be a distinct negative. We have no need of tax or investment advice. Managing our portfolio online is easy. Real hassle? Not in my very real experience. So just to set the record straight, the 1K fee ...
by matjen
Fri Jul 07, 2017 8:10 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

I would certainly consider some or all of these asset classes if they were readily available. But since I don't have ready access to any of them, my interest is largely irrelevant. I suppose I could get access to the non-closed AQR funds if I moved some money to Fidelity, but that's a bridge too fa...
by matjen
Fri Jul 07, 2017 6:50 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

Are there fees per purchase or sale of the funds, or does the $1,000 include a reasonable volume of transactions? That is determined by which custodian has your funds. I know they work with Fidelity and Schwab. I think TD Ameritrade as well. They do not work with Vanguard. There can be $20 to $45 f...
by matjen
Fri Jul 07, 2017 10:46 am
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

How did you determine hypothetical 2008 performance? I'm particularly curious about back testing of LENDX. There was no Lending Club and probably no Prosper back then. How do you back test something that did not even exist? Grap may have been a little gloomy on LENDX. Larry Swedroe wrote the follow...
by matjen
Fri Jul 07, 2017 10:29 am
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 119
Views: 9549

Re: My Favorite Alternative Funds

Great post Grap! A nice beginning one-stop-shop for this sort of strategy. I am a fan of QSPIX, LENDX and potentially SRRIX. Packer thanks for the additional options to explore as well. To add to Nisi's suggestion regarding possible Vanguard options do not forget Vanguard Market Neutral Fund Investo...
by matjen
Mon Jul 03, 2017 9:34 am
Forum: Investing - Theory, News & General
Topic: Northern Trust CIO's Perspective Presentation
Replies: 3
Views: 435

Re: Northern Trust CIO's Perspective Presentation

Couldn't your argument be applied to any type of indexing/quant and valuation metric? Seems to me that's a lot of words to say "this time it "may" be different." It also kind of assumes people can effectively analyze individual stocks.
by matjen
Mon Jul 03, 2017 8:47 am
Forum: Investing - Theory, News & General
Topic: Northern Trust CIO's Perspective Presentation
Replies: 3
Views: 435

Northern Trust CIO's Perspective Presentation

From May 2017. Some really interesting slides in this deck. It includes the usual returns quilt but also has a a factors quilt (slide 12). There is also a slide on factor valuations (slide 16) that I thought was well done. Like AQR/Asness, he shows that the value factor has not been overgrazed. http...
by matjen
Wed Jun 28, 2017 3:53 pm
Forum: Investing - Theory, News & General
Topic: Malkiel essay on Smart Beta
Replies: 0
Views: 277

Malkiel essay on Smart Beta

Burton Malkiel goes into more detail on Smart beta/factors and when they are capable of working. The argument for using several factors simultaneously is strongly supported by decades of academic research. The clear result of many empirical analyses is that the return differentials resulting from di...
by matjen
Mon Jun 26, 2017 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Allocation Decisions: LENDX, SRRIX and QSPIX
Replies: 47
Views: 4072

Re: Allocation Decisions: LENDX, SRRIX and QSPIX

Uuuuummmmm....... this is one the most ridiculous correlation matrixes I have ever seen: m It's hard not to like these new ALTs... Super short time period though Grap. I would expect LENDX to be more correlated with equities in a bear market since unemployment would rise and more defaults on consum...
by matjen
Mon Jun 26, 2017 6:31 am
Forum: Investing - Theory, News & General
Topic: Your Favorite Portfolio Tilts
Replies: 86
Views: 6896

Re: Your Favorite Portfolio Tilts

. FWIW – I had the same portfolio tilts (reflected in earlier post) over past 14.4 years. What have these tilts added over this period relative to an indicative ‘market portfolio’ reflected in my earlier post? +0.8% from greater equity orientation +0.7% from greater EM allocation* +1.0% from value ...
by matjen
Fri Jun 23, 2017 10:11 am
Forum: Investing - Help with Personal Investments
Topic: Allocation Decisions: LENDX, SRRIX and QSPIX
Replies: 47
Views: 4072

Re: Allocation Decisions: LENDX, SRRIX and QSPIX

What's the easiest way to view the returns of LENDX and SRRIX? I'm having a hard time finding this. Bloomberg has them. Unfortunately, Morningstar doesn't. I made a request for them to be added but they have not as of yet. Would be nice to have for Portfolio X-Ray purposes more than anything. m m
by matjen
Thu Jun 22, 2017 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Decisions: LENDX, SRRIX and QSPIX
Replies: 47
Views: 4072

Re: Allocation Decisions: LENDX, SRRIX and QSPIX

Avo wrote:QSPIX has been essentially flat since the end of 2015. Does this worry anyone?


Nope. FWIW, which is very little, it has done better than Vanguard's Market Neutral fund VMNFX since 1/1/16.
by matjen
Thu Jun 22, 2017 12:02 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Decisions: LENDX, SRRIX and QSPIX
Replies: 47
Views: 4072

Re: Allocation Decisions: LENDX, SRRIX and QSPIX

I give general advice here though I don't work in the financial industry. I post the 15 largest holdings in my retirement portfolio, my top 10 individual stocks, and how my investments have performed. People can see if I really eat my own cooking and can check my results to see if I am worth listen...
by matjen
Mon Jun 19, 2017 11:15 am
Forum: Personal Consumer Issues
Topic: Pimp my DW's ride.
Replies: 96
Views: 7050

Re: Pimp my DW's ride.

Agree on the electronics being way behind. This is why the Velar is the only one that interests me. Did you ask about that at all? I know it isn't available yet.
by matjen
Sun Jun 18, 2017 4:50 pm
Forum: Investing - Theory, News & General
Topic: Best Financial Advice from Dad (in honor of father's day)
Replies: 78
Views: 5459

Re: Best Financial Advice from Dad (in honor of father's day)

1) The power of compounding.
2) Although earning money is to buy current things, the purpose of saving is to buy your freedom. Don't trade your freedom for things.
by matjen
Sun Jun 18, 2017 3:43 pm
Forum: Personal Consumer Issues
Topic: BMW X5 2017 - Seeking advice
Replies: 40
Views: 3370

Re: BMW X5 2017 - Seeking advice

I am still perusing all the advice from thread (thanks everyone!) but I didn't see any information outside this thread about big changes for 2018 X5. Here's a post from Bimmerfest about the 2018 X5 (due in Sept) that suggests changes are minor (i.e no generation change). m . On the other hand X3 is...
by matjen
Sun Jun 18, 2017 11:14 am
Forum: Personal Consumer Issues
Topic: BMW X5 2017 - Seeking advice
Replies: 40
Views: 3370

Re: BMW X5 2017 - Seeking advice

Not sure about a diesel option. This article doesn't mention it at all which is a bad sign if that is of interest. It does go into the platform change. Although current model came out in 2014 the platform is actually significantly older. This will be a big upgrade. m The third-gen X5 was introduced ...
by matjen
Sun Jun 18, 2017 9:17 am
Forum: Personal Consumer Issues
Topic: BMW X5 2017 - Seeking advice
Replies: 40
Views: 3370

Re: BMW X5 2017 - Seeking advice

OP, are you aware that the BMW X5 is an extremely old platform/design? 2017 will be the last model year before an entirely new X5 comes out for 2018. Heck, if you are buying in late calendar year 2017 then you may well be buying a 2018 model depending on release date. In any case, if it is a 2017 mo...
by matjen
Tue Jun 13, 2017 1:35 pm
Forum: Investing - Theory, News & General
Topic: DFA Retirement Income Strategies
Replies: 83
Views: 9270

Re: DFA Retirement Income Strategies

These funds seem to be marketed to 401(K) admins, various plans, etc. The irony here is that these types of products really minimize the need for an advisor in my opinion. At least an advisor who is merely handling investments rather than a full suite of services. I mean what is the difference betwe...
by matjen
Tue Jun 13, 2017 9:21 am
Forum: Investing - Theory, News & General
Topic: DFA Retirement Income Strategies
Replies: 83
Views: 9270

Re: DFA Retirement Income Strategies

Here's an article by Wade Pfau on the DFA TDFs. I apologize if somebody has already brought this up earlier in the thread. Excerpt from beginning of article. Dimensional Fund Advisors (DFA) takes a more direct approach to immunizing retirement liabilities through their target-date retirement income...
by matjen
Mon Jun 12, 2017 2:49 pm
Forum: Investing - Theory, News & General
Topic: Dimensional 2017 index annualized return matrix book
Replies: 1
Views: 360

Re: Dimension 2017 index annualized return matrix book

Always a great resource. Thanks for posting.
by matjen
Thu Jun 08, 2017 2:09 pm
Forum: Investing - Theory, News & General
Topic: Bloomberg Invest Spotlight: Cliff Asness
Replies: 18
Views: 1266

Re: Bloomberg Invest Spotlight: Cliff Asness

The second observation I have made after listening to and reading literally thousands of inputs from expert financial mavens over the past 3 decades: there is a truly remarkable coincidence. Although they differ, sometimes dramatically, in the details of their insights and advice, not once in 30+ y...
by matjen
Thu Jun 08, 2017 10:06 am
Forum: Investing - Theory, News & General
Topic: Bloomberg Invest Spotlight: Cliff Asness
Replies: 18
Views: 1266

Bloomberg Invest Spotlight: Cliff Asness

A nice 20 minute interview with AQR's Cliff Asness. Many of the usual topics covered. I particularly appreciated him distinguishing between what AQR does mostly and other firms like Two Sigma or Renaissance Technologies. Also, most pertinent to fairly common discussions on this forum is his defense ...
by matjen
Mon Jun 05, 2017 1:31 pm
Forum: Personal Consumer Issues
Topic: Pimp my DW's ride.
Replies: 96
Views: 7050

Re: Pimp my DW's ride.

I don't know much about wraps but my sense is they are a way more popular down market and in the tuner world not at your "level." I could be wrong though. I don't have a wrap, but I have the opposite impression. I've never personally seen a <$50k car with a wrap. But I have seen numerous ...
by matjen
Mon Jun 05, 2017 8:43 am
Forum: Personal Consumer Issues
Topic: Pimp my DW's ride.
Replies: 96
Views: 7050

Re: Pimp my DW's ride.

I don't know much about wraps but my sense is they are a way more popular down market and in the tuner world not at your "level." I could be wrong though. My other comment is have you had a chance to check out the new Range Rover Velar? It's not top of the line but it is their brand new de...
by matjen
Thu Jun 01, 2017 7:10 am
Forum: Investing - Theory, News & General
Topic: My Smart Beta ETF Premised on Cats Rang Up an 849,751% Return
Replies: 1
Views: 476

My Smart Beta ETF Premised on Cats Rang Up an 849,751% Return

Fun tongue-in-cheek article about data mining, etc. Per usual, Asness nails it. Everything you can sort on can be a factor, but not all factors are interesting. Factors need some economics, theory or intuition even, to be at all interesting to us. Thus the cat factor fails as we have no story for wh...
by matjen
Tue May 30, 2017 9:46 am
Forum: Investing - Help with Personal Investments
Topic: Access to DFA without adviser
Replies: 8
Views: 1101

Re: Access to DFA without adviser

I'd hesitate starting a taxable account with them. If your wife changes jobs what happens to your DFA relationship? My understanding about the DFA funds is that if you leave your advisor you can transfer the funds to another broker but can't add to them. At that point selling them could have real t...
by matjen
Tue May 30, 2017 7:46 am
Forum: Investing - Help with Personal Investments
Topic: Access to DFA without adviser
Replies: 8
Views: 1101

Re: Access to DFA without adviser

Yes I would say it makes sense to move to take advantage of the DFA access IF it gets you access to a handful of funds/strategies that DFA offers that sets them apart. If you have no interest in a small cap value tilt on the US AND International side or in a more advanced Target Date Fund then it do...
by matjen
Fri May 26, 2017 2:23 pm
Forum: Investing - Theory, News & General
Topic: Great Depression Lesson - Is Total Bond Market Too Risky?
Replies: 28
Views: 4836

Re: Great Depression Lesson - Is Total Bond Market Too Risky?

I find it very confusing that some authorities complain that Total Bond is too risky and urge using an all-Treasury fund, while others (including John C. Bogle) complain that it is too heavy in government issues and that ordinary investors would be better served by taking on more risk in order tog ...
by matjen
Thu May 25, 2017 9:51 am
Forum: Investing - Theory, News & General
Topic: DFA Retirement Income Strategies
Replies: 83
Views: 9270

Re: DFA Retirement Income Strategies

The tricky bit is if someone else is doing this for you, are they charging you a reasonable fee for the service? 25 bps or so is more than reasonable for this type of TDF IMO. I just wish that DFA would incorporate more of a SCV tilt into the solution. Perhaps have two versions for each fund. My un...