Search found 769 matches

by vesalius
Sat Aug 26, 2017 9:38 pm
Forum: Investing - Theory, News & General
Topic: Review with Me - Larry Swedroe's new book
Replies: 160
Views: 6878

Re: Review with Me - Larry Swedroe's new book

I utilize one of Mr Swedroe's suggested portfolios and I am at a loss how that three fund portfolio is any more complex or hard to manage than the ubiquitous 3 fund boglehead portfolio as that is where I started. It is more expensive, but historically and so far in my own experience it is also more ...
by vesalius
Thu May 25, 2017 9:13 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Value Premium: Risk Or Mispricing
Replies: 42
Views: 2811

Re: Larry Swedroe: Value Premium: Risk Or Mispricing

Random Walker wrote:My understanding of the RAFI funds is that virtually all of their returns are explained by the Factor models.

Dave
Research Affiliates: Why Factor Tilts Are Not Smart ‘Smart Beta’

Not surprisingly, Arnott does not seem not agree.
by vesalius
Fri May 12, 2017 7:36 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe Article On Enhancing Momentum Strategies
Replies: 60
Views: 6495

Re: Larry Swedroe Article On Enhancing Momentum Strategies

Rkhusky, Yes, it can always get ugly. And when it gets ugly correlations do tend to go to 1. That being said, I got to believe that diversifying the sources of risk has got to be somewhat better than the single huge bet on market beta. Dave I don't agree that you're actually diversifying over sourc...
by vesalius
Thu May 11, 2017 3:42 pm
Forum: Investing - Theory, News & General
Topic: If not Past Performance, how do you evaluate a fund/etf?
Replies: 18
Views: 1425

Re: If not Past Performance, how do you evaluate a fund/etf?

You specifically asked about small-cap value funds at Fidelity and Vanguard. Fidelity does not offer any small-cap value fund. At Vanguard there is Vanguard Small-cap Value Index Fund Investor Shares (VISVX) or Admiral Shares (VSIAX) or ETF (VBR). Other small-cap value options have significantly hi...
by vesalius
Thu May 11, 2017 3:24 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey's ELP's pay him to not understand investment fees
Replies: 24
Views: 2814

Re: Dave Ramsey's ELP's pay him to not understand investment fees

“It is difficult to get a man to understand something when his salary depends upon his not understanding it.” ― Upton Sinclair

We all know this is true from everyday people to big time celebrities in sales, science, religion, and politics.
by vesalius
Wed May 03, 2017 8:42 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe Article On Enhancing Momentum Strategies
Replies: 60
Views: 6495

Re: Larry Swedroe Article On Enhancing Momentum Strategies

So the new term here to me is "Idiosyncratic Momentum". For those that have a handle on this, is that appreciably different than Time series Momentum because at first glance they seem the same to me?
by vesalius
Thu Mar 30, 2017 3:15 pm
Forum: Personal Consumer Issues
Topic: thoughts on in-ceiling speakers?
Replies: 48
Views: 4463

Re: thoughts on in-ceiling speakers?

Depends on what you are willing to spend. You can get a very nice all ceiling setup in 5.1 or more. I think Triads are outstanding in build quality and sound. They are not cheap though. Triad Speakers I loved the KEF inwall and inceiling home theater speaker I heard as well. Also not cheap. KEF THX ...
by vesalius
Wed Feb 15, 2017 1:21 pm
Forum: Investing - Theory, News & General
Topic: Is a total market fund the most diversified
Replies: 157
Views: 15886

Re: Is a total market fund the most diversified

If your main goal is to protect yourself from loss but want some stocks then buy a consumer staples fund or etf.Pretty clear how that worked in 2008.Of course that is not diversified at all. Thanks for the recommendation, but believe in the simplicity of and in my opinion more all weather usefulnes...
by vesalius
Tue Feb 14, 2017 9:53 pm
Forum: Investing - Theory, News & General
Topic: Is a total market fund the most diversified
Replies: 157
Views: 15886

Re: Is a total market fund the most diversified

Of course that was understood and my comments were based on the same premise.
by vesalius
Tue Feb 14, 2017 4:44 pm
Forum: Investing - Theory, News & General
Topic: Is a total market fund the most diversified
Replies: 157
Views: 15886

Re: Is a total market fund the most diversified

Dbr To be brutally honest my thoughts are not really not important.I just kind of shake my head at all of the technical mumbo jumbo that gets carried to such extremes and still is based on past performance that may or may not be repeated.Is TSM diversified enough for me?I believe highly paid people...
by vesalius
Tue Feb 14, 2017 3:51 pm
Forum: Investing - Theory, News & General
Topic: RAFI Multi-Factor Indexes
Replies: 23
Views: 3089

Re: RAFI Multi-Factor Indexes

Has AQR released any information WRT backtested data for the new relaxed constraint funds? Related: Relaxed Constraint Portfolios . Understanding Relaxed Constraint Equity Strategies Thanks Robert, much obliged. I had not yet read the Feb 2017 paper. I'll admit I am strongly considering using QSRIX...
by vesalius
Tue Feb 14, 2017 10:28 am
Forum: Investing - Theory, News & General
Topic: How Much To Tilt To Small Value?
Replies: 214
Views: 29070

Re: How Much To Tilt To Small Value?

Just one comment, yes the value premium has been negative for last nine years, but was less negative from 08-16 then the market beta premium was negative from 2000-09 an even longer period. To me it's amusing that the people focus on the value premium being slightly negative for an even shorter per...
by vesalius
Tue Feb 14, 2017 9:41 am
Forum: Investing - Theory, News & General
Topic: Is a total market fund the most diversified
Replies: 157
Views: 15886

Re: Is a total market fund the most diversified

I want to maximize returns and minimize risk based on what happened in the past and may not repeat in the future Well in the end isn't that what everyone here is doing to one degree or another? From Taylor and his beloved 3 fund to Larry and his personal portfolio as well as almost everyone in betw...
by vesalius
Thu Jan 19, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Does pharmacy school ranking matter?
Replies: 42
Views: 4986

Re: Does pharmacy school ranking matter?

Hospital pharmacist here on the residency committee. 1. Exclude any school that has opened after the year 2000. 2. Of the remainder pick the school that will allow your son to graduate with the least amount of student loans. Make sure he realizes that retail pharmacy is soul crushing and the only w...
by vesalius
Tue Jan 17, 2017 1:54 pm
Forum: Investing - Theory, News & General
Topic: Spending HSA money versus other
Replies: 21
Views: 2397

Re: Spending HSA money versus other

Wait a sec. Withdrawals from an HSA after 59 1/2 for non-medical expense paying purposes are fully taxable - just as a traditional IRA. Sorry. I pay out-of-pocket for medical expenses when I expect them to be greater than 10% of my AGI and thus deductible. This happens when I pre-pay a year's worth...
by vesalius
Mon Jan 16, 2017 6:18 pm
Forum: Investing - Theory, News & General
Topic: Factor-Diversified Portfolio
Replies: 175
Views: 16769

Re: Factor-Diversified Portfolio

I'm sorry, but there's no theory that says hold Japan only. You should diversify globally. That's cherry-picking. Well there are plenty of theories that state hold US only for Stock (because big US companies have enough foreign exposure anyway) and global diversification is potentially not only unn...
by vesalius
Mon Jan 16, 2017 2:30 pm
Forum: Investing - Theory, News & General
Topic: Factor-Diversified Portfolio
Replies: 175
Views: 16769

Re: Factor-Diversified Portfolio

I'm sorry, but there's no theory that says hold Japan only. You should diversify globally. That's cherry-picking. Well there are plenty of theories that state hold US only for Stock (because big US companies have enough foreign exposure anyway) and global diversification is potentially not only unn...
by vesalius
Sun Jan 15, 2017 12:48 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1186
Views: 177290

Re: QSPIX - thoughts on interesting fund

Right now, I'm leaning towards 45% RT6 10% alternatives (5% LENDX, 2.5% QSPIX, 2.5% SRRIX) 45% bonds What is RT6? I first saw it used by Swedroe here. "Two ways to use higher tilts, or full tilt, what we call RT6--because it loads about .6 on the two factors. Either higher returns or same retu...
by vesalius
Sat Dec 10, 2016 7:00 pm
Forum: Investing - Theory, News & General
Topic: Do you think Slice and Dice makes it harder to stay the course?
Replies: 40
Views: 2854

Re: Do you think Slice and Dice makes it harder to stay the course?

It's wonderful to be a S&D: I am always buying asset classes which are doing relatively poorly. I noticed a lot of people asking about Small Value. I just hit my upper rebalancing band for small value today, so I'll be rebalancing into International Small Cap on Monday. I have seen almost no di...
by vesalius
Thu Dec 08, 2016 3:33 pm
Forum: Investing - Theory, News & General
Topic: AQR - Alternative Thinking 4Q 2016: Superstar Investors
Replies: 22
Views: 2066

Re: AQR - Alternative Thinking 4Q 2016: Superstar Investors

Ok, I buy that. I don't have a good handle on the time frames involved... are we missing anyone else who earned long-term alpha like that? Buffett and Soros are both very smart, successful investors, but it would seem that Lynch is (was) in a league of his own. Renaissance Technologies Medallion Fu...
by vesalius
Wed Dec 07, 2016 2:45 pm
Forum: Personal Consumer Issues
Topic: confused about HDMI cables
Replies: 18
Views: 2301

Re: confused about HDMI cables

I bought a new 4K tv and and am currently using a 10 year old HDMI cable for video. Should I buy a newer cable? Also, when I connect a soundbar, will I need to use an HDMI-ARC cable for audio? If I should be doing things differently please let me know. Thanks!! No, you don't need a new HDMI cable. ...
by vesalius
Sun Nov 27, 2016 1:38 pm
Forum: Investing - Theory, News & General
Topic: From a 20-fund indexed portfolio, to a simple one
Replies: 12
Views: 1849

Re: From a 20-fund indexed portfolio, to a simple one

Good selections of funds. Glad you found what works for you. That and a good contribution rate are really important. I settled on a simple easy to manage 4 fund portfolio. AQR Small Cap Multi-Style Fund Class I QSMLX DFA World ex U.S. Targeted Value Portfolio Institutional Class Shares DWUSX AQR Sty...
by vesalius
Sat Nov 26, 2016 1:15 pm
Forum: Investing - Theory, News & General
Topic: Not DFA - what are the best Value and MOM funds?
Replies: 20
Views: 3199

Re: Not DFA - what are the best Value and MOM funds?

AQR also offers funds that combine them (DFA only screens for negative momentum, thus avoiding negative loading on MOM but not getting positive). And there are multi factor funds like Goldman's new fund that get exposure to multiple factors. Larry If I just want to invest in a Value fund and a MOM ...
by vesalius
Fri Nov 25, 2016 3:57 pm
Forum: Investing - Theory, News & General
Topic: DFA vs Vanguard (I know, I know)
Replies: 34
Views: 4895

Re: DFA vs Vanguard (I know, I know)

Just thought I'd give this post a bump. I believe anyone interested in DIY investing through VG, should at least actively consider the Advisor DFA route. Then if they choose DIY VG, they will have more conviction to stick to their plan. Interested to hear what others think. Dave Just switched to on...
by vesalius
Fri Nov 25, 2016 1:07 pm
Forum: Investing - Theory, News & General
Topic: A look at the research and evidence on time-series MOM
Replies: 140
Views: 15105

Re: A look at the research and evidence on time-series MOM

For those not "buying the kool aid", do you believe the data? Do you think the benefit will be arbitraged away? Do you not trust it because it is a behavioral story rather than a risk story? Do you look at it in isolation rather than as a component of a multi-factor portfolio? Just looks ...
by vesalius
Thu Nov 24, 2016 10:14 am
Forum: Investing - Theory, News & General
Topic: A look at the research and evidence on time-series MOM
Replies: 140
Views: 15105

Re: A look at the research and evidence on time-series MOM

Thanks Larry, I figured there was an obvious reason I was glossing over.

Have a great thanks giving
by vesalius
Thu Nov 24, 2016 10:04 am
Forum: Investing - Theory, News & General
Topic: A look at the research and evidence on time-series MOM
Replies: 140
Views: 15105

Re: A look at the research and evidence on time-series MOM

Few thoughts to add. First, when we worked with Bridgeway to develop the Omni Funds we did include MOM in terms of a negative screening and have pushed Bridgeway to be a bit more aggressive in implementing it and they have done that, moving from about -0.1 loading (which is low for value fund) to s...
by vesalius
Thu Nov 24, 2016 9:55 am
Forum: Investing - Theory, News & General
Topic: Merriman 2 fund portfolio
Replies: 5
Views: 1660

Re: Merriman 2 fund portfolio

Sounds like a variant of the Larry portfolio, but it leaves out any international. You won't find consensus here or anywhere for this type of portfolio. Even those that use variants, myself included, will caution that unless you are fully convinced in the probability they will perform over time emot...
by vesalius
Wed Nov 23, 2016 10:09 pm
Forum: Personal Consumer Issues
Topic: Apple Watch 2 Distance from iPhone?
Replies: 11
Views: 3859

Re: Apple Watch 2 Distance from iPhone?

I like it, but it fits exactly what needed. I never had version 1 as I tend to always skip the first run or remake of any product. I needed waterproof and got it. Wanted thinner, but didn't need it. Wanted longer battery life, but have no basis for comparison and truthfully I get 2-3 days per charge...
by vesalius
Wed Nov 23, 2016 12:28 pm
Forum: Personal Consumer Issues
Topic: Apple Watch 2 Distance from iPhone?
Replies: 11
Views: 3859

Re: Apple Watch 2 Distance from iPhone?

Yes that should work as long as a couple of caveats are met.
1. The phone you have paired to the watch auto connects to your home wireless network.
2. The upstairs location can connect to that same wireless network.

20 Things Apple Watch Can Do On WiFi Without iPhone In Bluetooth Range
http://www.redmondpie.com/20-things-app ... oth-range/
by vesalius
Wed Nov 23, 2016 10:22 am
Forum: Personal Consumer Issues
Topic: Karate/Taekwondo for an 8 year old?
Replies: 35
Views: 2677

Re: Karate/Taekwondo for an 8 year old?

I have twin 8 year old boys and an older daughter in TKD for the last 2-3 years. They have a great Grand Master teaching them with multiple other black belts there during class also helping. He is tough and demanding but loves the kids he teaches. TKD has been great for their balance and flexibility...
by vesalius
Wed Nov 23, 2016 9:41 am
Forum: Personal Consumer Issues
Topic: When should I upgrade my wireless router? (RT-N56U)
Replies: 43
Views: 6436

Re: When should I upgrade my wireless router? (RT-N56U)

5g is faster, but also shorter range, so not unexpected. A good 5gHz connection can more than handle your modest internet connection speed at full throttle without slowing it down. Caveats being the distance of your device from the router and what kind of obstructions, i.e. Walls, metal, brick and s...
by vesalius
Tue Nov 22, 2016 9:35 pm
Forum: Investing - Theory, News & General
Topic: Not DFA - what are the best Value and MOM funds?
Replies: 20
Views: 3199

Re: Not DFA - what are the best Value and MOM funds?

Check this post out. Still all relevant.

viewtopic.php?p=2421420#p2421420

MTUM iShares Edge MSCI USA Momentum Factor has a low ER and gets decent recommendations here from those among us will to go down that Path.
by vesalius
Tue Nov 22, 2016 10:22 am
Forum: Personal Consumer Issues
Topic: Next-Generation Streaming Service for TV/Internet
Replies: 11
Views: 1803

Re: Next-Generation Streaming Service for TV/Internet

AT&T is working on a wireless Internet service for rural areas that travels via line of site along power line poles. This kind of thing could also become available. AT&T’s AirGig uses power lines for multi-gigabit, wireless broadband How AT&T plans to deliver cheap, high-speed internet ...
by vesalius
Mon Nov 21, 2016 10:40 pm
Forum: Personal Consumer Issues
Topic: When should I upgrade my wireless router? (RT-N56U)
Replies: 43
Views: 6436

Re: When should I upgrade my wireless router? (RT-N56U)

Security-wise WPA/WPA2 with AES should be sufficient for the home. What is most likely more useful is that a new router should get regular firmware updates to fix any software security flaws. I am not familiar with the N-56, but Asus is pretty good about making firmware updates available. They are ...
by vesalius
Mon Nov 21, 2016 10:25 pm
Forum: Personal Consumer Issues
Topic: Next-Generation Streaming Service for TV/Internet
Replies: 11
Views: 1803

Re: Next-Generation Streaming Service for TV/Internet

AT&T is working on a wireless Internet service for rural areas that travels via line of site along power line poles. This kind of thing could also become available. AT&T’s AirGig uses power lines for multi-gigabit, wireless broadband How AT&T plans to deliver cheap, high-speed internet o...
by vesalius
Mon Nov 21, 2016 12:26 pm
Forum: Investing - Theory, News & General
Topic: DFA vs Vanguard (I know, I know)
Replies: 34
Views: 4895

Re: DFA vs Vanguard (I know, I know)

Obviously we are far, far away from this really becoming a problem, but I do wonder at what point competition for stocks that are rich in the fashionable factors could start to drive up their price. I think it could be definitely be a problem, but human nature and recency almost certainly keep it f...
by vesalius
Fri Nov 18, 2016 2:51 pm
Forum: Investing - Theory, News & General
Topic: A look at the research and evidence on time-series MOM
Replies: 140
Views: 15105

Re: A look at the research and evidence on time-series MOM

Just for fun, I just looked at VTI since QSPIX inception. 13 negative months. QSPIX had better returns than VTI in 12 of those 13 months. QMHIX had better returns than VTI in 10 of those 13 months. The one negative VTI month were QSPIX did worse, QMHIX was strongly positive. Sounds sort of like an ...
by vesalius
Tue Nov 15, 2016 7:44 pm
Forum: Investing - Theory, News & General
Topic: Adding 5%+ ... Rebalance or Proportional
Replies: 12
Views: 1678

Re: Adding 5%+ ... Rebalance or Proportional

Rebalancing with new money is what I would do as well. Doing so now may obviate the need for more transactions in 6 months and overall decrease transaction cost, if there are any. At the very least it will bring your portfolio back to your preset risk tolerance now.
by vesalius
Mon Nov 14, 2016 2:43 pm
Forum: Investing - Theory, News & General
Topic: Why patience and discipline are key to investing, it's temperament not intellect
Replies: 38
Views: 5862

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

That's really interesting data, Robert. It actually makes sense given just how strong large growth has been the last few years. I'd imagine flows into a couple of big companies like the FANGs of last year would dwarf gains in SCV. I think the bigger issue for the long term is whether publicly trade...
by vesalius
Mon Nov 14, 2016 2:07 pm
Forum: Investing - Theory, News & General
Topic: Updating a slice and dice portfolio with Multi-factor funds
Replies: 10
Views: 2581

Re: Updating a slice and dice portfolio with Multi-factor funds

There are no AQR multistyle small intl or emerging variants as far as I can tell. Only large offered currently, well I think they may be total market style, but regardless they are both overwhelmingly dominated by large. ETF variants: all the caveats about liquidity and trading apply. Many are quite...
by vesalius
Sat Nov 12, 2016 5:44 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe on Meb Faber Show
Replies: 15
Views: 2574

Re: Larry Swedroe on Meb Faber Show

At the end of this great discussion, Larry and Meb long for funds that have ETF tax advantages but trade at end of day NAV. Doesn't that already exist in Vanguard mutual funds that also have ETF share classes? It sounds exactly like Vanguard's unique patented structure, but they seemed to talk abou...
by vesalius
Fri Nov 11, 2016 1:48 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe on Meb Faber Show
Replies: 15
Views: 2574

Re: Larry Swedroe on Meb Faber Show

Good listen. Thanks for posting.

Larry, where might I read about or research th e specific re-insurance fund I have seen you mention here and there a few times?
by vesalius
Sun Nov 06, 2016 3:51 pm
Forum: Investing - Theory, News & General
Topic: Should you use component funds or core funds when allocating to factors
Replies: 6
Views: 1517

Re: Should you use component funds or core funds when allocating to factors

The factor construction approached by the Russell Focused Factor indexes is fascinating for this reason. They start with the Russell 1000, then weight on Value factors, then weight on smaller ones, then weight on quality, and finally weight on either yield, momentum, or low vol, while keeping the m...
by vesalius
Sun Nov 06, 2016 2:54 pm
Forum: Investing - Theory, News & General
Topic: What percentage of a portfolio should be in international stocks ?
Replies: 101
Views: 11773

Re: "nobody knows"

Instead, listen to me, and don't invest in international at all, or if you do, no more than 20%, and if you do that, you will beat the market . This sounds like something you would find in an investment newsletter. Coming out of anyone else's mouth, many here would classify it as "noise",...
by vesalius
Sun Nov 06, 2016 11:05 am
Forum: Investing - Theory, News & General
Topic: What percentage of a portfolio should be in international stocks ?
Replies: 101
Views: 11773

Re: "nobody knows"

Instead, listen to me, and don't invest in international at all, or if you do, no more than 20%, and if you do that, you will beat the market . This sounds like something you would find in an investment newsletter. Coming out of anyone else's mouth, many here would classify it as "noise",...
by vesalius
Thu Nov 03, 2016 11:32 pm
Forum: Investing - Theory, News & General
Topic: What percentage of a portfolio should be in international stocks ?
Replies: 101
Views: 11773

Re: What percentage of a portfolio should be in international stocks ?

Just playing devils advocate ... so tilting away from a total cap weighted market portfolio is reasonable, if jack says so, but not advisable if you tilt away from an all beta weighted portfolio? I guess recent backtesting is okay to believe in this situation as well.

Seems clear as mud.

:sharebeer
by vesalius
Sat Oct 22, 2016 10:02 am
Forum: Investing - Theory, News & General
Topic: Smart beta? GSLC
Replies: 8
Views: 1128

Re: Smart beta? GSLC

Any thoughts on smart beta funds i know there are a few low cost options now What do you think of Goldman's active beta etf With an ER of 1.54% it will have to way outperform the S&P500. Even 40, 50 or 60 bp better before fees still leaves you far behind VTI. The ER on the fund is only 0.09%. N...
by vesalius
Fri Oct 21, 2016 4:22 pm
Forum: Investing - Theory, News & General
Topic: Opinions on this new fund: suitability for EM small and value
Replies: 20
Views: 3097

Re: Opinions on this new fund: suitability for EM small and value

While more multi factor than just small value and a new fund, iShares Multifactor Emerging Market (EMGF) might deserve a look.
by vesalius
Thu Oct 13, 2016 1:17 pm
Forum: Investing - Theory, News & General
Topic: Myopic loss aversion and the equity risk premium puzzle
Replies: 76
Views: 5311

Re: Myopic loss aversion and the equity risk premium puzzle

I think loss aversion is very rational and not myopic. At $2 million, I retire with everything I need, and almost everything I want. Growing that to $3 or $4 million changes my life very little. Dropping that to $1 million changes my life immensely. From prior articles I am fairly certain Mr. Swedr...