Search found 182 matches

by vencat
Mon Jan 16, 2017 12:21 pm
Forum: Investing - Theory, News & General
Topic: The gulf between MOM fund returns and MOM factor returns
Replies: 30
Views: 1635

Re: The gulf between MOM fund returns and MOM factor returns

You'd achieve a significantly higher value load with iShares S&P SmallCap 600 Value ETF (IJS) for example than combining Guggenheim S&P Smallcap 600 Pure Value ETF (RZV) and iShares Edge MSCI USA Momentum Factor ETF (MTUM) in the right proportions to zero out the net momentum exposure. Exce...
by vencat
Mon Jan 16, 2017 11:50 am
Forum: Investing - Theory, News & General
Topic: The gulf between MOM fund returns and MOM factor returns
Replies: 30
Views: 1635

Re: The gulf between MOM fund returns and MOM factor returns

Personally, I'm more comfortable targeting positive market, size, and value exposure. But also comfortable offsetting a negative portfolio load to momentum through a direct holding of momentum (e.g. through MTUM) with the goal of achieving a zero net momentum exposure at the overall portfolio level...
by vencat
Sun Jan 08, 2017 11:18 pm
Forum: Investing - Help with Personal Investments
Topic: Disadvantage of Tax loss harvesting
Replies: 65
Views: 3439

Re: Disadvantage of Tax loss harvesting

Thanks to all for the responses.
I will continue to TLH.
by vencat
Sat Jan 07, 2017 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: Disadvantage of Tax loss harvesting
Replies: 65
Views: 3439

Re: Disadvantage of Tax loss harvesting

f I had accumulated $150k tax loss credits, I would undertake a very critical analysis of my purchasing criteria.........Gordon Your point? All of my investing is in Vanguard index funds except for DFA in wife's 401K and Utah 529 Adding context to my situation...this is a post from another thread: ...
by vencat
Sat Jan 07, 2017 9:52 am
Forum: Investing - Help with Personal Investments
Topic: Disadvantage of Tax loss harvesting
Replies: 65
Views: 3439

Disadvantage of Tax loss harvesting

I'm an aggressive tax loss harvester and have accumulated over $150,000/- in losses. This statement in a Vanguard article has me concerned. Vanguard research June 2013 Glass half full: The silver lining of capital losses Author Sarah Hammer . investor harvests losses greater than gains plus $3,000 o...
by vencat
Sat Jan 07, 2017 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 7025

Re: Doctors and retirement

What's wrong with aiming for a high(er) retirement net worth? To each his own. My wife and and I are both physicians in our mid 50s with very decent incomes and I've been investing the Boglehead way for about 20 years. So, yes, the upper target is quite possible and relatively close. Main expenses h...
by vencat
Wed Jan 04, 2017 8:36 pm
Forum: Investing - Theory, News & General
Topic: "Academic Research Doesn't Always Make Grade in Real World"
Replies: 47
Views: 3752

Re: "Academic Research Doesn't Always Make Grade in Real World"

Was expecting a stronger response from Larry. Take the simple example of small cap/small cap value which the FFers were stressing for years until the world changed with the new factors. Even the 'lowly' Vanguard funds, Tax Managed small cap and small cap value have beaten Total Stock market for 1, 3...
by vencat
Mon Jan 02, 2017 5:09 pm
Forum: Investing - Theory, News & General
Topic: Tax Loss Harvesting - Is it worth it?
Replies: 85
Views: 5297

Re: Tax Loss Harvesting - Is it worth it?

The Vanguard article https://personal.vanguard.com/pdf/s802.pdf mentions the following: "However,since future portfolio positions and tax rates are unknown, it is generally not recommended to harvest losses in excess of current-year gains plus an amount to offset ordinary income." Can some...
by vencat
Wed Nov 23, 2016 10:29 pm
Forum: Investing - Theory, News & General
Topic: Renaissance Technologies - Inside a Moneymaking Machine Like No Other
Replies: 54
Views: 5386

Re: Renaissance Technologies - Inside a Moneymaking Machine Like No Other

'I wonder what Larry would say about this. He comes on here a lot.'

This was my first thought....hope he takes the bait.
by vencat
Sun Nov 13, 2016 9:02 pm
Forum: Investing - Theory, News & General
Topic: Why patience and discipline are key to investing, it's temperament not intellect
Replies: 38
Views: 5137

Re: Why patience and discipline are key to investing, it's temperament not intellect

Robert,
IJS YTD according to Morningstar is 47.86%!!?
Is that real?

Venkat
by vencat
Wed Sep 14, 2016 7:13 pm
Forum: Investing - Help with Personal Investments
Topic: I am going to stop tilting. Sanity check.
Replies: 66
Views: 6619

Re: I am going to stop tilting. Sanity check.

I'm not an expert or a quant but I've favored tilting for many years. 1. Positive experience with 20 years of investing (15 years of tilting) 2. Just check Morningstar. Even the 'lowly' Vanguard small cap value and Tax Managed small cap compares favorably to Total Stock market index and I daresay, D...
by vencat
Sun Sep 11, 2016 9:16 am
Forum: Investing - Theory, News & General
Topic: "Factor investing"
Replies: 221
Views: 18862

Re: "Factor investing"

This may have been the full quote:

And let me say this about a better diversifier: "Better diversification" is the last refuge of the scoundrel. -- Anything that's done well recently is considered a great diversifier.
by vencat
Tue Jun 28, 2016 6:52 am
Forum: Investing - Theory, News & General
Topic: Rick Ferri looking to internationalize his portfolio
Replies: 507
Views: 118358

Re: Rick Ferri looking to internationalize his portfolio

Unrelated but appears that Rick is no longer mentioned in his (former?) company web site Portfolio Solutions.
Has he sold his company?
by vencat
Fri Jan 15, 2016 4:26 pm
Forum: Investing - Theory, News & General
Topic: 2015 Callan Periodic Table of Investment Returns
Replies: 26
Views: 3656

Re: 2015 Callan Periodic Table of Investment Returns

Actually Boglehead Tamales does a better Callan chart:

viewtopic.php?t=180882
by vencat
Wed Jan 06, 2016 2:01 pm
Forum: Investing - Theory, News & General
Topic: Small Value ETF DES
Replies: 3
Views: 681

Re: Small Value ETF DES

Many choices but none as inexpensive as VBR
http://etfdb.com/etfdb-category/small-c ... -equities/
by vencat
Sun Dec 13, 2015 1:55 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1162
Views: 156328

Re: QSPIX - thoughts on interesting fund

Some interesting links regarding QSPIX for newcomers: https://grandstreetwm.wordpress.com/?s=qspix http://www.mutualfundobserver.com/2015/09/aqr-style-premia-alternative-i-qspix-aqr-style-premia-alternative-lv-i-qslix-september-2015/ Personally, I'm watching this fund with interest. Not yet easily a...
by vencat
Thu Oct 29, 2015 7:01 pm
Forum: Investing - Help with Personal Investments
Topic: What price point makes DFA attractive
Replies: 14
Views: 2237

Re: What price point makes DFA attractive

Actual live fund returns show better results than that. The DFA Small Cap Value fund (DFSVX) has an annualized return of 11.8% since its inception in 1993, while the total US stock market (VTSMX) returned only 9.2% annualized -- a realized premium in live funds of more than 2% per year. Really? Hav...
by vencat
Wed Oct 28, 2015 7:22 pm
Forum: Investing - Theory, News & General
Topic: Tax-loss harvesting and switching to cash for 30 days
Replies: 30
Views: 3049

Re: Tax-loss harvesting and switching to cash for 30 days

What is your comment on this from Vanguard Vanguard research June 2013 Glass half full: The silver lining of capital losses Author Sarah Hammer . investor harvests losses greater than gains plus $3,000 of ordinary income, he or she may not have future capital gains to offset those losses, or future ...
by vencat
Wed Oct 28, 2015 7:14 pm
Forum: Investing - Theory, News & General
Topic: Tax-loss harvesting and switching to cash for 30 days
Replies: 30
Views: 3049

Re: Tax-loss harvesting and switching to cash for 30 days

I do practice a form of RBD rebalancing( didn't realize it was called that) and TLH with alternate funds /ETFs rather than cash. My stock allocation usually is about 1 to 5% short of my target (due to drift and paycheck). Understand that the advantages may be slim but it's psychologically satisfying...
by vencat
Wed Oct 28, 2015 4:15 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Equivalents to DFA Funds
Replies: 23
Views: 2546

Re: Vanguard Equivalents to DFA Funds

This is a classic from Robert T

viewtopic.php?t=7353

Venkat
by vencat
Sat Oct 24, 2015 7:58 pm
Forum: Investing - Theory, News & General
Topic: Vanguard: The view from a quantitative perspective
Replies: 15
Views: 3041

Re: Vanguard: The view from a quantitative perspective

How about this apples to orange comparision http://quote.morningstar.com/fund/chart.aspx?t=VMNVX&region=USA&culture=en-US&statePara=%7Bsecurities%3A%5B%7Bn%3A%22Vanguard%20Global%20Minimum%20Volatility%20Admr%22%2Cids%3A%22F00000QHIN%7C0P0000ZN5Q%7CCU%24%24%24%24%24USD%7C1%7C1%7CFO%7C201...
by vencat
Sat Oct 24, 2015 7:41 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Equivalents to DFA Funds
Replies: 23
Views: 2546

Re: Vanguard Equivalents to DFA Funds

I use DFA because of my wife's 401K as well as for second 529 plan (Utah) for my kids. DFA vs Vanguard performance is a moving and changing target. Just see Morningstar performance for Large value, small value etc Difference is trivial enough that it is not statistically significant and adviser fee ...
by vencat
Fri Sep 25, 2015 12:01 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1162
Views: 156328

Re: QSPIX - thoughts on interesting fund

Larry, Sorry i got the alpha and beta mixed up. More fuel for the enthusiasts (Robert T may have referenced this earlier): https://grandstreetwm.wordpress.com/2014/01/10/is-this-new-mutual-fund-a-game-changer-part-1 https://grandstreetwm.wordpress.com/2014/01/23/is-this-mutual-fund-a-game-changer-pa...
by vencat
Thu Sep 24, 2015 5:55 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1162
Views: 156328

Re: QSPIX - thoughts on interesting fund

For most of us this is an inaccessible and arguably, unnecessary fund. High minimums, tax inefficiency, high expense ratio and very short history settle it for me. Maybe this is the holy grail of investing fund that was not available when Larry wrote his book: The Quest for Alpha: The Holy Grail of ...
by vencat
Fri Aug 21, 2015 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: With Stock Market heading south
Replies: 95
Views: 13085

Re: With Stock Market heading south

Missed yesterday because of work. Did buy some today though
by vencat
Fri Jul 31, 2015 7:50 pm
Forum: Investing - Theory, News & General
Topic: Factors or Fundamentals?
Replies: 38
Views: 2111

Re: Factors or Fundamentals?

Question for Rick. I know you endorse small and value tilt for those who have the discipline to stick to the strategy. You have been strangely silent about momentum, profitability, quality, low volatility and any other factor I may have missed out. Have you joined the factor bandwagon or are you sti...
by vencat
Sun Jul 26, 2015 8:38 pm
Forum: Investing - Help with Personal Investments
Topic: Lesson learned about RBD [Really Bad Day]
Replies: 30
Views: 3585

Re: Lesson learned about RBD [Really Bad Day]

http://home.comcast.net/~rodec/finance/papers/AnalysisRBD.pdf http://www.wsj.com/articles/SB10001424053111904563904576589134168081092 Despite the evidence, I do buy on the dips when I notice them. I'm usually close to my asset allocation and rebalance on major dips. Just a psychological thing. Makes...
by vencat
Tue Jul 07, 2015 8:54 pm
Forum: Investing - Theory, News & General
Topic: "Vanguard's recommended international allocation."
Replies: 63
Views: 8539

Re: "Vanguard's recommended international allocation."

I've been a Boglehead of sorts for at least 19 years. I've been gradually increasing my international allocation both large and small caps especially recently. Hoping to silence the Vanguard portfolio watch caution when I hit 30 percent.
by vencat
Sat Jun 13, 2015 7:19 pm
Forum: Investing - Help with Personal Investments
Topic: Indexing don't work outside of USA? [India]
Replies: 7
Views: 1681

Re: Indexing don't work outside of USA? [India]

You could try 'core and explore' strategy. That is, use a base of index funds/ETFs and add active MF especially for mid/small cap area. The following was from a previous post: Goldman Sachs Nifty index ETF (50%), Goldman Sachs Junior BEES ETF (25%), HDFC Midcap Opportunity Growth(25%). (small/mid ca...
by vencat
Sat Apr 11, 2015 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: Two Comma Club
Replies: 66
Views: 11195

Re: Two Comma Club

The problem with the 2 comma club is that you want to be in the 8 figure club!!!!
by vencat
Thu Mar 26, 2015 11:45 pm
Forum: Investing - Theory, News & General
Topic: "TIPS. Love them or leave them?"
Replies: 16
Views: 2450

Re: "TIPS. Love them or leave them?"

The usual Boglehead rule for bonds was/is:
50% Total Bond and 50% TIPS. (not getting into tax exempt bonds for high tax bracket).
Has that changed???
by vencat
Thu Feb 12, 2015 11:32 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in India
Replies: 17
Views: 3861

Re: Investing in India

MF Utility seems like the ideal platform to hold mutual funds from multiple companies.
I'm not certain you can buy ETFs, though.
by vencat
Wed Feb 11, 2015 9:55 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in India
Replies: 17
Views: 3861

Re: Investing in India

Ways to invest in India http://articles.economictimes.indiatimes.com/2011-06-20/news/29679836_1_mutual-funds-fund-companies-offer-online-trading http://profit.ndtv.com/news/cheat-sheet/article-investing-in-mutual-funds-heres-the-cheapest-easiest-way-32829 http://www.fundsindia.com/ http://www.indian...
by vencat
Wed Feb 11, 2015 8:40 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in India
Replies: 17
Views: 3861

Re: Investing in India

Please see these previous threads. I have contributed to some of them. http://www.bogleheads.org/forum/viewtopic.php?f=1&t=93075 https://www.bogleheads.org/forum/viewtopic.php?f=1&t=139590 http://www.bogleheads.org/forum/viewtopic.php?f=1&t=128887 https://www.bogleheads.org/forum/viewtop...
by vencat
Sun Feb 01, 2015 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: 2.875% mortgage pay-off financially justifiable?
Replies: 35
Views: 5330

Re: 2.875% mortgage pay-off financially justifiable?

I was in a similar situation. 2.875% for 10 years. Could have paid off long ago. Finally did last month with funds from my Limited Tax Exempt fund. Wife and I feel good about it.
by vencat
Sat Jan 31, 2015 2:22 pm
Forum: Investing - Help with Personal Investments
Topic: What is the best free stock screener?
Replies: 7
Views: 1080

Re: What is the best free stock screener?

Petro, Do you still use the low beta approach for individual stocks? if I recall from years ago you use a mix of Vanguard active funds and a portfolio of low beta stocks. I also vaguely recall something about a tactical strategy or fund....FundX?? in the early 2000s. Were you dabbling with momentum ...
by vencat
Sat Jan 31, 2015 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: What makes a good index? [India funds]
Replies: 6
Views: 915

Re: What makes a good index? [India funds]

I feel that a mixed approach is best for Indian markets. At least till Vanguard tries to reenter Indian market..... One other thing......Indian approach to investing appears to be oriented to market timing and 'profit booking'. Except for above deviation i.e mixed approach, I would strongly recommen...
by vencat
Sat Jan 31, 2015 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: What makes a good index? [India funds]
Replies: 6
Views: 915

Re: What makes a good index? [India funds]

CNX 500 is the indian equivalent of the US Total Stock Market. Certainly the broadest but unfortunately expense ratio seems too high and what if Goldman Sachs pulls out or closes fund? Between Nifty and Sensex, no doubt Nifty is better as it has 50 vs 30 stocks. I personally don't invest in India (m...
by vencat
Fri Jan 30, 2015 7:36 pm
Forum: Investing - Help with Personal Investments
Topic: What makes a good index? [India funds]
Replies: 6
Views: 915

Re: What makes a good index? [India funds]

Some previous threads: Some support for indexing in India: https://www.ifa.com/articles/second_look_indian_mutual_fund_landscape/ Arguments against: http://www.onemint.com/2012/03/13/why-isnt-investing-in-index-funds-popular-in-india/ http://www.safalniveshak.com/do-not-invest-in-index-funds/ http:/...
by vencat
Thu Jan 29, 2015 7:10 pm
Forum: Investing - Theory, News & General
Topic: The missing value premium- a 10 year global lookback
Replies: 57
Views: 4710

Re: The missing value premium- a 10 year global lookback

See below for an article and quote from Paul Merriman http://www.marketwatch.com/story/savvy-shoppers-make-savvy-investors-2013-02-13?pagenumber=1 "In my book “Live It Up Without Outliving Your Money,” I show the results of an 82-year study of value stocks vs. growth stocks. In every single 20-...
by vencat
Wed Jan 21, 2015 9:36 pm
Forum: Investing - Help with Personal Investments
Topic: Small Cap Value worth it?
Replies: 33
Views: 5515

Re: Small Cap Value worth it?

6) If you are into market timing, recent underperformance of SV should actually be a buy signal! Long termers should be rebalancing, of course. But then most say momentum is the better way to go, not the recent under-performers? :confused You need both, at least according to this article :wink: htt...
by vencat
Sun Jan 18, 2015 12:55 pm
Forum: Personal Consumer Issues
Topic: "Wining and dining" in medical community
Replies: 35
Views: 4212

Re: "Wining and dining" in medical community

'Wining and dining' is a bunch of BS and not at all integral to the medical community. By the same token, golfing or private club membership is not required! 1) Rarely, at the group practice level, there may be a meet and greet introductory meeting for a new physician with hors d'oeuvres and wine. I...
by vencat
Sat Jan 17, 2015 1:40 pm
Forum: Investing - Help with Personal Investments
Topic: Small Cap Value worth it?
Replies: 33
Views: 5515

Re: Small Cap Value worth it?

Unscientific/?meaningless observations of up to 15 year Morningstar returns: 1) Marginal difference between Total Market and S&P 500: 5 to 15 years, former ahead by 0.26 to 0.61% 2) Small cap blend specifically Tax Managed Small Cap has beaten Total: 5 to 15 years 1.66 to 5.05%. SCV and SCG have...
by vencat
Sat Jan 17, 2015 12:06 pm
Forum: Investing - Theory, News & General
Topic: Malkiel's recommendations, 1990 to 2015
Replies: 45
Views: 6923

Re: Malkiel's recommendations, 1990 to 2015

While I respect all the experts I also pay heed to the the notion, ALL idols have clay feet. This recent article is very good advice from him. http://www.wsj.com/articles/burton-g-malkiel-a-2015-rebalancing-act-for-investors-1419986157 But he actually advocates replacing part of the bond portfolio w...
by vencat
Fri Jan 16, 2015 8:29 pm
Forum: Investing - Theory, News & General
Topic: Larry's New Book On Sale
Replies: 10
Views: 2109

Re: Larry's New Book On Sale

Now, if only the author would make a pitch..........
by vencat
Fri Jan 16, 2015 8:24 pm
Forum: Investing - Theory, News & General
Topic: Why invest in International funds? It's a mystery
Replies: 121
Views: 12909

Re: Why invest in International funds? It's a mystery

Recency bias would favor only US investing. I'm personally at 15% international and will be increasing to 25 or even 30%. The argument against international is a strong positive (or is it negative?)sentiment indicator in my opinion. Having said that international small cap especially value is where ...

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