Search found 178 matches

by Jiu Jitsu Fighter
Wed Jul 03, 2019 4:36 pm
Forum: Investing - Theory, News & General
Topic: "Alice's Adventures in Factorland"
Replies: 209
Views: 11647

Re: "Alice's Adventures in Factorland"

I'm on team Swedroe. Taylor is a good guy whose intentions are well meaning for sure. Bogle is a hero, but I don't agree with him on everything. Buffett talks out of both sides of his mouth. As others have mentioned, watch what he does not what he says. He talks about about the disparity between the...
by Jiu Jitsu Fighter
Thu Jun 06, 2019 11:09 am
Forum: Investing - Theory, News & General
Topic: are TIPS expensive? or are they cheap?
Replies: 204
Views: 21266

Re: are TIPS expensive? or are they cheap?

international001 wrote:
Thu Jun 06, 2019 10:13 am
One think I cannot figure out. If the inflation goes to -2.00%, what is the nominal yield a TIP would give you? 0%? Do you have to pay money for it?
The principal is adjusted downward.
by Jiu Jitsu Fighter
Thu Jun 06, 2019 11:04 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 20776

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

If you believe in efficient markets, the small-value segment of the market must outperform TSM over the long run. Otherwise, there would be nobody investing in these mostly junky companies compared to the larger well-known blue-chip companies. I understand if someone has reservations on the actual p...
by Jiu Jitsu Fighter
Wed Jun 05, 2019 10:18 am
Forum: Investing - Theory, News & General
Topic: Rookie Factor-Tilting Question.. Please Help!
Replies: 27
Views: 1636

Re: Rookie Factor-Tilting Question.. Please Help!

TSM is factor neutral. It is not debatable.
by Jiu Jitsu Fighter
Thu May 30, 2019 10:03 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 20776

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

...and the past always predicts the future. No. Looking backward has never helped investors predict if premiums will occur or when they will occur. We can only pay the rent and hope they show up in enough quantity to a least cover that rent. This includes market beta as well. Perhaps you could have...
by Jiu Jitsu Fighter
Tue May 14, 2019 6:43 pm
Forum: Investing - Theory, News & General
Topic: Episode 009: "Bogleheads on Investing" with guest Dr. Wesley Gray, host Rick Ferri
Replies: 14
Views: 2513

Re: Episode 009: "Bogleheads on Investing" with guest Dr. Wesley Gray, host Rick Ferri

Really solid podcast. I'm glad that you, Rick l, did not get into an argument over the merits of factor investing (me being one of them) because I know you are a promoter of straight market cap weighted index funds, period. I never enjoyed the arguments that you and Larry would get into because I ad...
by Jiu Jitsu Fighter
Thu May 02, 2019 1:34 pm
Forum: Investing - Theory, News & General
Topic: Is factor-based small-value/Fama-French tilting worth it?
Replies: 101
Views: 7383

Re: Is factor-based small-value/Fama-French tilting worth it?

But if risk based factors are truly risk based, then they would logically have to have increased expected return in an efficient market. The expected return may take a haircut or maybe even should take a haircut, but not be eradicated. The behavioral factors are another story, but even for those, t...
by Jiu Jitsu Fighter
Wed May 01, 2019 6:32 pm
Forum: Investing - Theory, News & General
Topic: Is factor-based small-value/Fama-French tilting worth it?
Replies: 101
Views: 7383

Re: Large Caps or Small Caps?

Bogleheads: I have difficulty being convinced (by the financial industry) to minimize the largest and most successful companies in the world. Best wishes. Taylor Taylor, You make this argument all too often. The statement is not consistent with your advocacy of owning the total stock market index. ...
by Jiu Jitsu Fighter
Tue Apr 30, 2019 1:01 pm
Forum: Investing - Theory, News & General
Topic: Is factor-based small-value/Fama-French tilting worth it?
Replies: 101
Views: 7383

Re: Is factor-based small-value/Fama-French tilting worth it?

How much more complex should I make my portfolio to chase theoretical small-value/Fama-French return premiums? I'm thinking tilting to one factor (small value) is too simple. The only way to get multi-factor tilts is to use the general indexes anyway. Large, mid-cap, and small. In other words we ca...
by Jiu Jitsu Fighter
Tue Apr 30, 2019 12:38 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Announces Plans to Launch Commodities Fund
Replies: 195
Views: 24355

Re: Vanguard Announces Plans to Launch Commodities Fund

Discredited on this forum, but I prefer a small allocation to gold (~5%). Unlike a commodities fund using futures, you don't have to deal with rolling contracts, backwardation, contango, all while having a near zero correlation to stocks and bonds. I know that there are no cash flows, it's a rock th...
by Jiu Jitsu Fighter
Tue Apr 30, 2019 11:52 am
Forum: Investing - Theory, News & General
Topic: Is factor-based small-value/Fama-French tilting worth it?
Replies: 101
Views: 7383

Re: Is factor-based small-value/Fama-French tilting worth it?

A good majority of those who are convinced that the small and/or value factor premiums do not exist also do not (1) question the equity (beta) premium (see Japan) and most likely tilt to a home country bias or exclude foreign stocks completely which is counterintuitive to their logic of discrediting...
by Jiu Jitsu Fighter
Thu Apr 18, 2019 3:55 pm
Forum: Investing - Theory, News & General
Topic: Barry Ritholtz podcast with Bill Bernstein
Replies: 2
Views: 939

Re: Barry Ritholtz podcast with Bill Bernstein

Finally, that bag of hot air, Mr. know-it-all, Ritholtz, has on a very good guest without a political axe to grind. Back a few years ago, MIB was great if you could get past Barry frontrunning everyone's comments to prove how knowledgeable he was. It deteriorated into subpar guests branching too far...
by Jiu Jitsu Fighter
Fri Mar 29, 2019 11:19 am
Forum: Investing - Theory, News & General
Topic: Submit questions for Allan Roth, my next "Bogleheads on Investing" podcast guest
Replies: 22
Views: 2359

Re: Submit questions for Allan Roth, my next "Bogleheads on Investing" podcast guest

He invests in GDX - Gold Miners ETF. Does he still hold that position and at what percentage of total investable assets?
by Jiu Jitsu Fighter
Thu Mar 14, 2019 3:08 am
Forum: Investing - Theory, News & General
Topic: What theory has changed, since you last took Economics/Finance courses in college?
Replies: 69
Views: 6046

Re: What theory has changed, since you last took Economics/Finance courses in college?

Macro was all Keynesian garbage. They removed all of the pages from the Paul Samuelson textbooks that raved over the Soviet Union's economic system. Keynesianism is not garbage. It is probably more enduring than many recent economic schools of thought. Now what you and others may not like, and unde...
by Jiu Jitsu Fighter
Tue Mar 12, 2019 5:29 pm
Forum: Investing - Theory, News & General
Topic: What theory has changed, since you last took Economics/Finance courses in college?
Replies: 69
Views: 6046

Re: What theory has changed, since you last took Economics/Finance courses in college?

Macro was all Keynesian garbage. They removed all of the pages from the Paul Samuelson textbooks that raved over the Soviet Union's economic system.
by Jiu Jitsu Fighter
Thu Mar 07, 2019 11:42 am
Forum: Investing - Theory, News & General
Topic: Larry's new book The Complete Guide to a Successful & Secure Retirement
Replies: 22
Views: 11839

Re: Larry's new book The Complete Guide to a Successful & Secure Retirement

For anyone interested in the St. Louis, Mo. area - Larry will be speaking about the new retirement book at the St. Charles County Library - Spencer Road Branch @ 7:00 p.m. on Thursday, April 11, 2019. Address: 427 Spencer Road - St. Peters, MO. 63376-2420 Phone: (636) 441-0794 The announcement is k...
by Jiu Jitsu Fighter
Thu Feb 28, 2019 5:04 pm
Forum: Investing - Theory, News & General
Topic: REIT's and Rick Ferri
Replies: 60
Views: 10350

Re: REIT's and Rick Ferri

Commercial real estate is about 13% of GDP but only represents about 3% of the stock market. Investing an extra 10% in property REITs increased the allocation in commercial real estate closer to its weight in the real economy... Rick Ferri You could make that same argument for other sectors and cou...
by Jiu Jitsu Fighter
Sun Feb 24, 2019 2:26 pm
Forum: Investing - Theory, News & General
Topic: NYT: Jack Bogle Helped Keep Inflation Low
Replies: 10
Views: 1719

Re: NYT: Jack Bogle Helped Keep Inflation Low

Woah, the New York Times botched an economic concept? No way!
by Jiu Jitsu Fighter
Thu Feb 14, 2019 12:08 pm
Forum: Investing - Theory, News & General
Topic: Why I Own a Total Market Index Fund
Replies: 43
Views: 6820

Re: Why I Own a Total Market Index Fund

So, that must mean that we should be adding Private Equity to the three-fund portfolio. We wouldn't want to miss out on the profits generated from all of those 40-hour-per-week private company employees.
by Jiu Jitsu Fighter
Mon Feb 11, 2019 6:40 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: No Point To Timing Factors
Replies: 16
Views: 1630

Re: Larry Swedroe: No Point To Timing Factors

This is one of the few times that I disagree with Larry. I agree that purely trying to time market factors is likely a losers game. Where I disagree with him is with regard to the RAFI funds. I don't think that constitutes factor timing since the methodology does not change. It's not like, since gro...
by Jiu Jitsu Fighter
Thu Jan 31, 2019 10:29 am
Forum: Investing - Theory, News & General
Topic: What was your first Vanguard fund or ETF?
Replies: 72
Views: 5287

Re: What was your first Vanguard fund or ETF?

Still have the confirm: VFINX - $2,000 Roth IRA contribution in May 2000 (sweet timing). That was the Roth limit in 2000 which was also the limit in 1982. I remember mailing a check in.
by Jiu Jitsu Fighter
Tue Jan 22, 2019 1:10 pm
Forum: Investing - Theory, News & General
Topic: "Bogleheads on Investing" podcast growing audience
Replies: 24
Views: 3133

Re: "Bogleheads on Investing" podcast growing audience

William Bernstein for sure!

My other hopefuls although not strict Boglehead adherents:

Cliff Asness
Rob Arnott
Larry Swedroe

Thanks,
JJF
by Jiu Jitsu Fighter
Tue Jan 22, 2019 11:10 am
Forum: Investing - Theory, News & General
Topic: Question for RobertT
Replies: 54
Views: 16106

Re: Question for RobertT

More specifically, VOE vs RPV (S&P 500 Pure Value) - any preference? RPV has a higher value load but somewhat offset by more negative momentum as well as a higher expense ratio. When considering alternatives I simply ask the question - will inclusion achieve my factor load targets at lower cost? Th...
by Jiu Jitsu Fighter
Mon Jan 14, 2019 12:32 pm
Forum: Investing - Theory, News & General
Topic: Question for RobertT
Replies: 54
Views: 16106

Re: Question for RobertT

Hi Robert, Thanks for the incredible value (pun intended) that you bring to this group. I would like to get your thoughts on Invesco's pure value indices. More specifically, VOE vs RPV (S&P 500 Pure Value) - any preference? RPV has a higher value load but somewhat offset by more negative momentum as...
by Jiu Jitsu Fighter
Wed Jan 09, 2019 5:43 pm
Forum: Investing - Theory, News & General
Topic: Opinions on First Trust International AlphaDEX ETFs
Replies: 7
Views: 555

Re: Opinions on First Trust International AlphaDEX ETFs

gtwhitegold wrote:
Wed Jan 09, 2019 5:31 pm
I'm using it in a tax advantaged account, so I'm not too concerned about fund closure. I also agree that it could be cheaper, but it looks more value biased than DGS, so I still use it.
Agreed, and the methodology is much better to capture factor premiums
by Jiu Jitsu Fighter
Wed Jan 09, 2019 5:07 pm
Forum: Investing - Theory, News & General
Topic: Larry's new book The Complete Guide to a Successful & Secure Retirement
Replies: 22
Views: 11839

Re: Larry's new book THE COMPLETE GUIDE TO A SUCCESSFUL & SECURE RETIREMENT

Finished reading it last night. I would definitely recommend it although it's geared more toward retirees. It is at a level that most people that have somewhat of an interest in personal finance will have no trouble with the concepts. I always had hoped that Larry would write an advanced book on par...
by Jiu Jitsu Fighter
Wed Jan 09, 2019 4:59 pm
Forum: Investing - Theory, News & General
Topic: Opinions on First Trust International AlphaDEX ETFs
Replies: 7
Views: 555

Re: Opinions on First Trust International AlphaDEX ETFs

Gotcha. Looks like they have a quasi-quality screen in their ranking system in addition to the traditional value metrics. 80 bps is steep for either of the funds, and as I mentioned, the ISV fund's volume/AUM is ridiculously low. I just was trying to determine if I should keep them on my radar if th...
by Jiu Jitsu Fighter
Wed Jan 09, 2019 4:59 pm
Forum: Investing - Theory, News & General
Topic: Opinions on First Trust International AlphaDEX ETFs
Replies: 7
Views: 555

Re: Opinions on First Trust International AlphaDEX ETFs

Gotcha. Looks like they have a quasi-quality screen in their ranking system in addition to the traditional value metrics. 80 bps is steep for either of the funds, and as I mentioned, the ISV fund's volume/AUM is ridiculously low. I just was trying to determine if I should keep them on my radar if th...
by Jiu Jitsu Fighter
Tue Jan 08, 2019 3:01 pm
Forum: Investing - Theory, News & General
Topic: Opinions on First Trust International AlphaDEX ETFs
Replies: 7
Views: 555

Opinions on First Trust International AlphaDEX ETFs

They have two international small value ETFs: FDTS - Int Dev Mkts Small-Cap Value and FEMS - Emerging Mkts Small/Mid-Cap Value. Volume/AUM is very low, especially FDTS, and their expense ratios are relatively high. I'm just looking for opinions on their portfolio construction since there are very fe...
by Jiu Jitsu Fighter
Mon Jan 07, 2019 1:12 pm
Forum: Investing - Theory, News & General
Topic: Other Portfolios that aren't 3 fund
Replies: 59
Views: 9732

Re: Other Portfolios that aren't 3 fund

VTI Total US Market 30% IJS S&P 600 Small-Cap Value 30% VEA Total International Developed Market 15% DLS International Dev Mkts Small-Cap Dividend15% VWO Total Emerging Markets 5% DGS Emerging Markets Small-Cap Dividend 5% 50/50 Large/Small 50/50 Cap-weighted Total Market/Small Value Small home coun...
by Jiu Jitsu Fighter
Sun Jan 06, 2019 5:45 am
Forum: Investing - Theory, News & General
Topic: Gus Sauter: the next "Bogleheads on Investing" podcast guest
Replies: 28
Views: 2742

Re: Gus Sauter: the next "Bogleheads on Investing" podcast guest

Ask him why Vanguard created the S&P 600 value index fund VIOV and the new factor funds (VFMF, VFVA, etc.) and then put them in the dungeon of the website and barely marketed them. Were they made to suit a particular institutional investor? :beer ....and more insight on the factor funds. Opinion on...
by Jiu Jitsu Fighter
Tue Jan 01, 2019 5:48 pm
Forum: Investing - Theory, News & General
Topic: 2019 Hedge Fund Contest
Replies: 235
Views: 21630

Re: 2019 Hedge Fund Contest

Biosimilarly

Short: ABBV
by Jiu Jitsu Fighter
Thu Dec 13, 2018 3:02 pm
Forum: Investing - Theory, News & General
Topic: Is there value in these books?
Replies: 22
Views: 1673

Re: Is there value in these books?

blackfish wrote:
Thu Dec 13, 2018 1:41 pm
Bought Capital in the 21st Century by Thomas Piketty when Audible had it on sale for $4.00. Starting it today, any thoughts on it's merit?
Zero merit from me. If you'd like to read critiques, go to mises.org and search for reviews of his book.
by Jiu Jitsu Fighter
Thu Dec 13, 2018 2:55 pm
Forum: Investing - Theory, News & General
Topic: Is there value in these books?
Replies: 22
Views: 1673

Re: Is there value in these books?

Absolutely read these authors. Keep in mind, going through some of their works is a massive undertaking, especially each one's magnus opus. Mises and Rothbard are my preference. Rothbard is easier to read but is more radicalized (not necessarily in a bad way) than Mises. However, I believe Mises an...
by Jiu Jitsu Fighter
Thu Dec 13, 2018 1:07 pm
Forum: Investing - Theory, News & General
Topic: Is there value in these books?
Replies: 22
Views: 1673

Re: Is there value in these books?

Absolutely read these authors. Keep in mind, going through some of their works is a massive undertaking, especially each one's magnus opus. Mises and Rothbard are my preference. Rothbard is easier to read but is more radicalized (not necessarily in a bad way) than Mises. However, I believe Mises and...
by Jiu Jitsu Fighter
Tue Dec 11, 2018 8:15 pm
Forum: Investing - Theory, News & General
Topic: Vanguard New Factor Funds Portfolio Statistics
Replies: 250
Views: 44082

Re: Vanguard New Factor Funds Portfolio Statistics

I was disappointed that Vanguard came out with their active quant funds (in the US) as US only. I would much rather spread the tracking risk to a global fund and then it doesn't seem as noticeable. Yes, global multi-factor would be nice. asset_chaos: Jack Bogle, our mentor, does not agree with you....
by Jiu Jitsu Fighter
Tue Dec 11, 2018 9:49 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Best Investment Science Books
Replies: 9
Views: 994

Re: Larry Swedroe: Best Investment Science Books

Interesting: I either recommend or buy Four Pillars for anyone who asks me for investment advice. Expected Returns is my favorite but is definitely geared toward those with advanced knowledge in finance/investing.
by Jiu Jitsu Fighter
Mon Dec 10, 2018 4:48 pm
Forum: Investing - Theory, News & General
Topic: Vanguard New Factor Funds Portfolio Statistics
Replies: 250
Views: 44082

Re: Vanguard New Factor Funds Portfolio Statistics

I'm a little bit baffled, as are others, that the VG MF funds all have paltry AUM. I specifically want to focus on the Value factor fund (VFVA). Still only ~$37 MM in AUM. Going by Morningstar (I know that's not a great way to determine factor loads), it looks very valuey compared to most US value f...
by Jiu Jitsu Fighter
Fri Nov 30, 2018 3:38 pm
Forum: Investing - Theory, News & General
Topic: What do bogleheads think of small cap value?
Replies: 37
Views: 4735

Re: What do bogleheads think of small cap value?

I’m nearly all in on SCV tilting. As Larry Swedroe has written, it requires “looking at diversification from a different point of view”. A TSM portfolio has exposure to a single factor, the market factor. A SCV fund will generally have about the same exposure to the market factor as the TSM fund, b...
by Jiu Jitsu Fighter
Tue Nov 27, 2018 8:44 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads Greatest Hits
Replies: 27
Views: 3984

Re: Bogleheads Greatest Hits

RobertT and Larry
by Jiu Jitsu Fighter
Tue Nov 20, 2018 11:51 am
Forum: Investing - Theory, News & General
Topic: The Two Fund Portfolio
Replies: 37
Views: 8165

Re: The Two Fund Portfolio

First of all, I wouldn't recommend the ACWF ETF since it still has less than $100 MM in AUM, and its daily trading volume only around 25k shares. Even though it excludes small-cap stocks, it gets its size exposure from tilting toward smaller companies within the large/mid-cap universe. It's average ...
by Jiu Jitsu Fighter
Fri Nov 02, 2018 4:27 pm
Forum: Investing - Theory, News & General
Topic: Core-4 Investing is LIVE! It really is this time!
Replies: 141
Views: 15066

Re: Core-4 Investing is LIVE! It really is this time!

I must have missed the Larry Portfolio (4 funds).

SV (BOSVX)
ISV (DISVX)
EV (DFEVX)
FI (Intermediate-Term Treasury)
by Jiu Jitsu Fighter
Thu Nov 01, 2018 2:02 pm
Forum: Investing - Theory, News & General
Topic: Is market cap weighting a dumb idea?
Replies: 64
Views: 3507

Re: Is market cap weighting a dumb idea?

Meb Faber's strategy: publish a book touting a strategy in which his firm just so happens to have a corresponding ETF and price the electronic copy of the book at $0 on Amazon. His methodology usually sounds plausible. Unfortunately, his ETFs have failed miserably in real time. Remember his tactical...
by Jiu Jitsu Fighter
Tue Oct 23, 2018 4:45 pm
Forum: Investing - Theory, News & General
Topic: 'Smart money' bailing on the market, time to get out?
Replies: 92
Views: 13219

Re: Smart money bailing on the market, time to get out?

(2) Stop reading Zerohedge. It's the worst sort of investment porn. Why do you qualify it as 'investment porn'? I started following them on Twitter because smart people like Cliff Asness, Nassim Nicholas Taleb or Jim O'Shaughnessy follow Zerohedge on Twitter too. So I concluded that it's probably g...
by Jiu Jitsu Fighter
Fri Oct 12, 2018 12:09 am
Forum: Investing - Theory, News & General
Topic: October "Bogleheads On Investing" podcast with Dr. David Blitzer
Replies: 26
Views: 3623

Re: October Bogleheads On Investing Podcast with Dr. David Blitzer

Future guests who have agreed to be interviewed. Presented in no particular order: Tim Buckley (CEO Vanguard) Jonathan Clements (Humble Dollar) Christine Benz (Morningstar) Allan Roth (Wealth Logic) Bill Bernstein (Efficient Frontier) Gus Sauter (Vanguard - Retired) Wes Gray (Alpha Architect) Mel L...
by Jiu Jitsu Fighter
Thu Oct 11, 2018 6:44 pm
Forum: Investing - Theory, News & General
Topic: Barron's Making the Case for Gold
Replies: 153
Views: 14228

Re: Barron's Making the Case for Gold

If a govt with large gold reserves has trouble meeting debt obligations, it may well choose to sell off gold to raise hard cash rather than printing money to deal with the debt. That’s the whole point and role of having substantial gold reserves to partially back a currency. What would that do to t...
by Jiu Jitsu Fighter
Thu Oct 11, 2018 1:59 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Precious Metals and Mining Fund is changing
Replies: 87
Views: 17017

Re: Vanguard Precious Metals and Mining Fund is changing

What a contrarian indicator this has proved out to be so far. GDX (Gold Miners) is up over 6% today and up over 8% over the last two days. I don't even know who this fund is targeted towards. I get precious metal mining stocks. Most are run horribly, but they are uncorrelated to the broad market and...
by Jiu Jitsu Fighter
Thu Oct 04, 2018 10:56 pm
Forum: Investing - Theory, News & General
Topic: Key differences between investing philosophies: Swedroe vs. Bogle
Replies: 144
Views: 9039

Re: Key differences between investing philosophies: Swedroe vs. Bogle

Taylor Larimore wrote:
Thu Oct 04, 2018 7:40 pm
Rick Ferri wrote:
Wed Oct 03, 2018 11:16 am
Jack believes in portfolio simplicity.
Larry believes in portfolio complexity.
I believe in Jack.

Rick Ferri
Bogleheads:

I believe in Jack and Rick Ferri.

Best wishes.
Taylor
I believe in evidence-based investing, not people.
by Jiu Jitsu Fighter
Thu Oct 04, 2018 9:56 am
Forum: Investing - Theory, News & General
Topic: Key differences between investing philosophies: Swedroe vs. Bogle
Replies: 144
Views: 9039

Re: Key differences between investing philosophies: Swedroe vs. Bogle

I've only read one of Jack's books. I can only read how costs matter so many times. I've read all of Larry's books. The 100% in a total domestic fund (less the allocation to his son's actively managed fund) with age in bonds isn't for me. Or, buy the entire haystack and by haystack, Jack means US st...