Search found 1433 matches

by matjen
Mon Aug 22, 2016 11:03 am
Forum: Investing - Theory, News & General
Topic: Zweig: Three New ETF ideas that actually make sense
Replies: 12
Views: 1692

Re: Zweig: Three New ETF ideas that actually make sense

Meb Faber has created a total global ETF for those interested. Basically an ETF of ETFs that holds plenty of Vanguard ETFs. .29 expense ratio.

http://www.cambriafunds.com/Data/Sites/ ... tSheet.pdf
by matjen
Sat Aug 06, 2016 10:55 am
Forum: Investing - Theory, News & General
Topic: Do mutual fund investors benefit when their funds also manage hedge funds?
Replies: 6
Views: 455

Re: Do mutual fund investors benefit when their funds also manage hedge funds?

Larry, is this a concern for you with regard to AQR's funds? That would be the one area in the Swedroe (and Matjen) universe where I could see this arising as an issue. My own take is that AQR seems to be rapidly migrating to the Mutual Fund side of the equation rather than the other way around and ...
by matjen
Sat Aug 06, 2016 9:19 am
Forum: Personal Consumer Issues
Topic: Moving from Android to iPhone
Replies: 48
Views: 3148

Re: Moving from Android to iPhone

Wait a month, the iPhone 7 will be out. The 6S will be cheaper. Agree, this is a very poor time to buy an iPhone. Moreover, strongly suggest you get the 64GB rather than 16GB. 16GB could be OK IF you really understand how to leverage the cloud to store everything (leverage free Google Photos storag...
by matjen
Sat Aug 06, 2016 8:52 am
Forum: Investing - Theory, News & General
Topic: Barron's: Vanguard’s Climate-Change Dismissal
Replies: 6
Views: 1082

Re: Barron's: Vanguard’s Climate-Change Dismissal

I don't think this should devolve into an argument about global warming/climate change or whatever. I view it as more akin to the numerous threads about "Socially Responsible Investing" that crop up from time to time. This article would not change my extremely high view of Vanguard but I t...
by matjen
Sat Aug 06, 2016 8:28 am
Forum: Investing - Theory, News & General
Topic: Barron's: Vanguard’s Climate-Change Dismissal
Replies: 6
Views: 1082

Barron's: Vanguard’s Climate-Change Dismissal

Although not hugely important to me, some may find it so. Link is probably behind a paywall since I am a subscriber but I'm sure you can google to find article. Vanguard’s Climate-Change Dismissal Vanguard has failed to support a single sustainability resolution of the 200 that have been filed. Acco...
by matjen
Fri Aug 05, 2016 12:09 pm
Forum: Investing - Theory, News & General
Topic: What is the purpose of a Long/Short Equity Fund fund like AQR QLERX?
Replies: 49
Views: 2519

Re: What is the purpose of a Long/Short Equity Fund fund like AQR QLERX?

C' mon Homer. I expect more from you. Looking at assets in isolation is a rookie mistake: https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=1985&firstMonth=1&endYear=2016&lastMonth=12&endDate=08%2F03%2F2016&initialAmount=10000&annualOp...
by matjen
Fri Aug 05, 2016 11:59 am
Forum: Investing - Theory, News & General
Topic: A costly mistake made by both investors and advisors
Replies: 240
Views: 17390

Re: A costly mistake made by both investors and advisors

But you are at least pointing out that there is a very wide dispersion of results.... Maybe financial experts should post predictions including the wide dispersion of results. This is exactly what Asness does. I haven't read this entire thread but I bet this article has been brought up. It is a cla...
by matjen
Thu Aug 04, 2016 6:43 am
Forum: Investing - Theory, News & General
Topic: Any correlation between Total Stock and Total Bond ?
Replies: 18
Views: 1258

Re: Any correlation between Total Stock and Total Bond ?

I forgot what the results were but I think they were in the -.3 range. A Perfect negative correlation is -1 and a perfect positive correlation is +1. Depending on how much of a stickler you are you could say they are negatively correlated or they are very, very lowly correlated which is the phrase I...
by matjen
Thu Aug 04, 2016 6:29 am
Forum: Investing - Theory, News & General
Topic: Any correlation between Total Stock and Total Bond ?
Replies: 18
Views: 1258

Re: Any correlation between Total Stock and Total Bond ?

Very, very low correlations. Use portfolio visualizer to take a look. https://www.portfoliovisualizer.com/asset-correlations
by matjen
Wed Jul 27, 2016 9:28 pm
Forum: Investing - Theory, News & General
Topic: Revisiting Dr. Bernstein on REITs
Replies: 29
Views: 3287

Re: Revisiting Dr. Bernstein on REITs

This post by Dr. Bernstein was actually one of the big influencers on me selling my REITS soon thereafter. Having said that they were only about 3% of my portfolio and I was trying to take risk off and wasn't so keen on REITS or TIPS which is the other asset class I sold to fund a 5% stake in AQR's ...
by matjen
Wed Jul 27, 2016 9:21 am
Forum: Investing - Theory, News & General
Topic: are the markets overvalued? Are Grantham/Hussman etal correct?
Replies: 222
Views: 13815

Re: are the markets overvalued? Are Grantham/Hussman etal correct?

Trader/Investor wrote:Looking at the returns since inception of Hussman's flagship fund I can't see how anyone can possibly label him a "well- respected financial expert"


8-)

Image
by matjen
Sun Jul 03, 2016 4:57 pm
Forum: Personal Consumer Issues
Topic: Roku TV without carrier?
Replies: 27
Views: 2095

Re: Roku TV without carrier?

I recently purchased two ROKU TVs from BestBuy for my mother. She loves them. You get great over the air reception with a decent antenna and then just purchase the services you desire to fill in additional content. Services like Netflix ($10/mo), Amazon Prime ($10/mo), HBO ($15/mo), etc.
by matjen
Sun Jul 03, 2016 4:50 pm
Forum: Investing - Theory, News & General
Topic: Are Markets Efficient? - Fama & Thaler Video
Replies: 2
Views: 415

Are Markets Efficient? - Fama & Thaler Video

Here is a nice video about market efficiency with Gene Fama and Richard Thaler. Thaler is one of the leaders of the Behavioral Economics movement and good friends with Fama. Quick takeaways: Passive investing is the way to go for most, both utilize small cap value as a strategy though Fama thinks li...
by matjen
Fri Jul 01, 2016 8:05 am
Forum: Personal Consumer Issues
Topic: Need help getting Gmail back
Replies: 31
Views: 2549

Re: Need help getting Gmail back

Rick Ferri wrote:Yes. Im now convinced there is a Google God.

Rick


That knows everything there is to know about you. ;-) A price of progress I am willing to pay.
by matjen
Sun Jun 26, 2016 3:57 pm
Forum: Investing - Theory, News & General
Topic: Alt Funds Not So Good on Brexit Friday (-.71%)
Replies: 9
Views: 1037

Alt Funds Not So Good on Brexit Friday (-.71%)

Although AQR's QSPIX was up .70% (Vanguard Total Bond was up .55%) the average alternative fund did poorly on Friday.

Image
by matjen
Thu Jun 23, 2016 11:26 am
Forum: Investing - Theory, News & General
Topic: New AQR/Asness Paper on Factor Timing
Replies: 9
Views: 921

Re: New AQR/Asness Paper on Factor Timing

Rick Ferri wrote:While this stuff is theoretically interesting, it's not important. You can skip it.

Rick Ferri


Which is basically what Asness is saying. Pick the factors/strategy exposure that you can stick with and stick with it. For three-funders that may be just beta which is fine of course.
by matjen
Wed Jun 22, 2016 5:51 pm
Forum: Investing - Theory, News & General
Topic: New AQR/Asness Paper on Factor Timing
Replies: 9
Views: 921

New AQR/Asness Paper on Factor Timing

Cliff Asness' latest in the ongoing disagreement he has with Arnott on this topic. Last sentence of the Abstract could have been written by our own Robert T. " Instead, investors are better off identifying factors they believe in, and staying diversified across them, unless we see far more extr...
by matjen
Wed Jun 22, 2016 8:26 am
Forum: Local Chapters and Bogleheads Community
Topic: Happy Birthday, Mel! Boglehead #2.
Replies: 41
Views: 2954

Re: Happy Birthday, Mel! Boglehead #2.

Happy Birthday Mel! :beer
by matjen
Tue Jun 14, 2016 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Paid off the mortgage today
Replies: 67
Views: 6020

Re: Paid off the mortgage today

Congratulations! :beer
by matjen
Tue Jun 14, 2016 8:25 am
Forum: Personal Consumer Issues
Topic: Any Porsche 911 owners here?
Replies: 73
Views: 6216

Re: Any Porsche 911 owners here?

I own a 2003 Boxster S and love it. Not cheap to maintain as it ages but gets pretty decent gas mileage and no more expensive to maintain (or minimally more) than any other European brand. I wanted a convertible and felt the Boxster was better than the 911 since it was purpose-built and had a more p...
by matjen
Mon Jun 13, 2016 7:27 pm
Forum: Investing - Theory, News & General
Topic: What four faces would you put on the Mount Rushmore of Investing
Replies: 47
Views: 3490

Re: What four faces would you put on the Mount Rushmore of Investing

My four in order of when they influenced me are:

Bernstein (Dr.)
Bogle
Swedroe
Asness
by matjen
Sun Jun 12, 2016 8:20 am
Forum: Investing - Theory, News & General
Topic: Developing conviction to stick with a long-term investment plan
Replies: 14
Views: 1470

Re: Developing conviction to stick with a long-term investment plan

On the last point - it may be a useful exercise for investors to write down the rational for building their portfolio to certain specifications (perhaps even including why it wasn't set up to other specifications) - to re-read in times of market uncertainty to help stay the course. This is an excel...
by matjen
Wed Jun 08, 2016 11:52 am
Forum: Investing - Theory, News & General
Topic: "Negative interest rates: What they are and what they mean."
Replies: 10
Views: 1666

Re: "Negative interest rates: What they are and what they mean."

Bonds provide two critical things: safety and income. US bonds are in my opinion safer than foreign bonds especially EM bonds not only because they are denominated in our own spending currency but also because our bond markets are deeper, well-regulated, and more transparent than many INTL markets....
by matjen
Tue Jun 07, 2016 4:56 pm
Forum: Investing - Theory, News & General
Topic: Howard Marks presentation
Replies: 20
Views: 2015

Re: Howard Marks presentation

Wonderful video that covers a fair amount of ground. Thank you for posting Robert T.
by matjen
Tue May 31, 2016 8:59 am
Forum: Personal Consumer Issues
Topic: Uber Car and the real cost of driving
Replies: 71
Views: 9227

Re: Uber Car and the real cost of driving

Interesting posts/thoughts Valuethinker. :beer
by matjen
Wed May 18, 2016 8:30 am
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 1551
Views: 801076

Re: The Three-Fund Portfolio

Thanks for the replies. If I got rid of NAESX and stuck with the 3 fund, would this be too aggressive even for someone who is aggressive and is 31. Total Stock Admiral 70% Total Intl 12% Total Bonds 18% This is a personal decision that has no right answer. However, your asset allocation is actually...
by matjen
Wed May 18, 2016 8:10 am
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 1551
Views: 801076

Re: The Three-Fund Portfolio

Regarding ^...My thoughts as a slicer and dicer in general, No. If you are going to add to a classic three-fund portfolio it seems to me you should follow what most of the academic literature and thought leaders do/have done. That really isn't small cap. It is however small cap value or for others i...
by matjen
Tue May 17, 2016 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Destination, Not Journey?
Replies: 20
Views: 2431

Re: Destination, Not Journey?

OP, Congratulations on your early success and don't sweat too much over how you feel about security/money. I think it is much better to be wired the way you are than the other way around. However, you must also work on your relationships (partner and friends) since that is really the most important ...
by matjen
Mon May 16, 2016 10:13 pm
Forum: Investing - Help with Personal Investments
Topic: IF YOU TILT small cap, DO YOU PAIR SP500 or TSM with it?
Replies: 43
Views: 2932

Re: IF YOU TILT small cap, DO YOU PAIR SP500 or TSM with it?

TSM...preferably Vanguard's VTI/VTSAX or the Total World VT.
by matjen
Mon May 16, 2016 6:29 pm
Forum: Investing - Theory, News & General
Topic: What % do you have in alternatives? REITs, commodities, etc.)
Replies: 67
Views: 4124

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

As an AQR/Asness fanboy I should point out that AQR is a major player in the "Alternatives" space.

https://funds.aqr.com/news/aqr-liquid-a ... s-magazine

Image
by matjen
Mon May 16, 2016 5:19 pm
Forum: Investing - Theory, News & General
Topic: What % do you have in alternatives? REITs, commodities, etc.)
Replies: 67
Views: 4124

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

I have 5% in the AQR Style Premia Alternative Fund Class I QSPIX
by matjen
Mon May 16, 2016 3:59 pm
Forum: Investing - Theory, News & General
Topic: Replicating Private Equity with Value Investing, Leverage, etc.
Replies: 1
Views: 256

Replicating Private Equity with Value Investing, Leverage, etc.

From the AQR Insight Awards. Erik Stafford, Ph.D., Harvard Business School Private equity (PE) funds tend to select relatively small stocks with low earnings multiples as measured by EBITDA. The author shows that publicly traded equities with these same characteristics have historically demonstrated...
by matjen
Mon May 16, 2016 2:52 pm
Forum: Investing - Theory, News & General
Topic: DEMSX vs VSS
Replies: 7
Views: 392

Re: DEMSX vs VSS

I'd rather have the DFA fund than any of the ETFs in the space, that's for sure. If there's one place DFA's not-a-slave-to-an-index, so-called patient trading can really help, it's got to be small cap EM. +1 IF this is the space you want to be in. VSS may be the only game in town for what it does (...
by matjen
Sat May 14, 2016 11:56 am
Forum: Personal Finance (Not Investing)
Topic: 25x income needs or 25x residual living expenses?
Replies: 24
Views: 3708

Re: 25x income needs or 25x residual living expenses?

HomerJ has some good thoughts as well. I'm back up to using 3.99% as a starting point with the obvious VPW thing guiding me in real life. :beer
by matjen
Sat May 14, 2016 8:51 am
Forum: Personal Finance (Not Investing)
Topic: 25x income needs or 25x residual living expenses?
Replies: 24
Views: 3708

Re: 25x income needs or 25x residual living expenses?

^ +1 Great post Lack_ey. This is how I view the topic as well. Great overall summary of the issues.
by matjen
Sat May 14, 2016 8:24 am
Forum: Investing - Help with Personal Investments
Topic: Muni bonds vs Muni bond fund
Replies: 7
Views: 783

Re: Muni bonds vs Muni bond fund

OP, I agree with what was written above but let me get you to the end decision as I see it. For the majority of investors a well run and inexpensive muni bond fund is the way to go. If you have some $$ then perhaps having a well qualified and honest fiduciary build a ladder for you that meets your c...
by matjen
Tue May 10, 2016 4:40 pm
Forum: Investing - Theory, News & General
Topic: BI-The computers have won and Wall Street will never be the same
Replies: 2
Views: 1483

BI-The computers have won and Wall Street will never be the same

Stock picking is on the ropes and not just in the mutual fund space. Could just be noise of course but I don't think so. There are certainly many other types of hedge fund strategies besides old-timey stock selection but regardless of the strategy, taking the human out of the equation or minimizing ...
by matjen
Sat May 07, 2016 9:49 am
Forum: Investing - Theory, News & General
Topic: Where is Rick Ferri? [Portfolio Solutions management and fee structure]
Replies: 95
Views: 17126

Re: Where is Rick Ferri?

^Yes. I actually edited my response at the same time you wrote yours.
by matjen
Sat May 07, 2016 9:41 am
Forum: Investing - Theory, News & General
Topic: Where is Rick Ferri? [Portfolio Solutions management and fee structure]
Replies: 95
Views: 17126

Re: Where is Rick Ferri?

I'm not saying that anything came of the suit or any fault was found


Regarding a Motion to Compel from two years ago...is speculation. I agree people should know if Rick is still involved which the ADV and the website provide info on and have been discussed and locked once already.
by matjen
Sat May 07, 2016 9:06 am
Forum: Investing - Theory, News & General
Topic: Where is Rick Ferri? [Portfolio Solutions management and fee structure]
Replies: 95
Views: 17126

Re: Where is Rick Ferri?

I don't think it is good form to be digging stuff up on Rick and posting it to this forum. I think this is especially so when a thread just like this was already locked by the admins. :annoyed
by matjen
Wed May 04, 2016 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Quitting too early? Firecalc comments
Replies: 21
Views: 3796

Re: Quitting too early? Firecalc comments

I like Firecalc but, to temper concerns about it only covering US assets, I also like to complement it with the Portfolio Charts tool. It handles tons of international asset classes, etc. but its drawback is it only goes back to 1972. Methodology: https://portfoliocharts.com/withdrawal-rates-methodo...
by matjen
Wed May 04, 2016 6:25 pm
Forum: Investing - Theory, News & General
Topic: Factor concentration within funds – does it really matter?
Replies: 11
Views: 791

Re: Factor concentration within funds – does it really matter?

Robert,

I had the opportunity to chat with Wes Gray and then sit next to him at lunch during a recent national AAII conference in Vegas. He is an incredibly nice guy. Very, very down to earth. Reminds me of a young Jack Bogle in that way.

Matjen
by matjen
Wed May 04, 2016 6:17 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle: "David and Goliath: Who Wins the Quantitative Battle?"
Replies: 13
Views: 2026

Re: Jack Bogle: "David and Goliath: Who Wins the Quantitative Battle?"

Although I "only" agree with about 98% of it, a wonderful speech per usual from Jack Bogle. Thank you for posting Taylor.
by matjen
Wed May 04, 2016 1:37 pm
Forum: Personal Consumer Issues
Topic: Tesla X
Replies: 232
Views: 35156

Re: Tesla X

BarbaricYawp wrote:So... anyone straying 'off the reservation' to buy Tesla stock directly? :wink:


The very famous and successful short seller James Chanos has disclosed he is short TSLA. FWIW
by matjen
Wed May 04, 2016 9:22 am
Forum: Investing - Theory, News & General
Topic: Interesting Round Table with Cliff Asness and "the" Steve Cohen
Replies: 2
Views: 389

Re: Interesting Round Table with Cliff Asness and (the) Steve Cohen

25:00 mark and Steve Cohen who may be the most successful investor of the last 20 years (certainly top 5) says the data in his firm indicates his people are great stock pickers but not great market timers.
by matjen
Wed May 04, 2016 9:00 am
Forum: Investing - Theory, News & General
Topic: Interesting Round Table with Cliff Asness and "the" Steve Cohen
Replies: 2
Views: 389

Interesting Round Table with Cliff Asness and "the" Steve Cohen

http://www.milkeninstitute.org/events/conferences/global-conference/2016/panel-detail/6168 A round table with "the" Steve Cohen, Cliff Asness and Neil Chriss. Have only watched the first few minutes but looks interesting and very, very timely. Mention Buffett's and Cohen's recent remarks f...
by matjen
Wed May 04, 2016 8:34 am
Forum: Investing - Theory, News & General
Topic: Why does DFA not offer a market neutral fund?
Replies: 17
Views: 1619

Re: Why does DFA not offer a market neutral fund?

I think Nisi raises some good points. This paper has actually come up in the QSPIX threads as I recall. I think originally from Robert T. if I am not mistaken. Perhaps one of the reasons he is intrigued by QSPIX but prefers to keep with long only factor tilts since he can reach the loadings he desir...
by matjen
Tue May 03, 2016 4:59 pm
Forum: Personal Consumer Issues
Topic: I cannot stop buying... [Investing/Personal Finance Books]
Replies: 54
Views: 7649

Re: I cannot stop buying... [Investing/Personal Finance Books]

midareff wrote:I stopped at 55 books, although it covered more than a decade. The lights didn't come on until William Bernstein's Four Pillars. Then came Jack, Ric, Larry and others in no particular order.


Same experience here although I have just slowed down rather than stopped.
by matjen
Tue May 03, 2016 4:55 pm
Forum: Investing - Theory, News & General
Topic: Fama and Asness on Bloomberg
Replies: 1
Views: 375

Re: Fama and Asness on Bloomberg

The best hour of financial television I have ever seen. Fama, Shiller, and Bogle with Asness serving as the lead interviewer/translator. Great, great stuff. Here is an earlier thread on it with links to all the videos.

viewtopic.php?t=137574
by matjen
Sun May 01, 2016 9:56 am
Forum: Investing - Theory, News & General
Topic: Numeracy and Wealth
Replies: 44
Views: 6454

Numeracy and Wealth

Well I'm not very good with numbers (compared to science and math types) but I took very quickly at a young age to the power of compounding. I am thankful to the late Richard Russell for writing a powerful article on the topic which my father gave to me at a young age. http://www.sciencedirect.com/s...

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