Search found 2588 matches

by HEDGEFUNDIE
Mon Jun 24, 2019 11:01 pm
Forum: Investing - Theory, News & General
Topic: Dimensional Funds versus Vanguard
Replies: 14
Views: 1451

Re: Dimensional Funds versus Vanguard

greg24 wrote:
Mon Jun 24, 2019 3:25 pm
DFA has a pretty big expense ratio compared to Vanguard. Tread lightly.
And yet so many DFA funds have beaten their Vanguard equivalents. Just one example:

https://www.portfoliovisualizer.com/fun ... F24%2F2019
by HEDGEFUNDIE
Mon Jun 24, 2019 10:10 pm
Forum: Personal Investments
Topic: Emerging markets EX China
Replies: 4
Views: 389

Re: Emerging markets EX China

Why would you want to exclude the country that has outperformed the other emerging markets in the index? https://www.portfoliovisualizer.com/fund-performance?s=y&symbol=MCHFX&benchmark=VEIEX&endDate=06%2F24%2F2019 Looking at a 5 year chart for MCHFX vs VEIEX - ouchhhh. MCHFX is down 21.25% and VEIE...
by HEDGEFUNDIE
Mon Jun 24, 2019 8:53 pm
Forum: Personal Investments
Topic: Emerging markets EX China
Replies: 4
Views: 389

Re: Emerging markets EX China

Why would you want to exclude the country that has outperformed the other emerging markets in the index?

https://www.portfoliovisualizer.com/fun ... F24%2F2019
by HEDGEFUNDIE
Sun Jun 23, 2019 3:02 pm
Forum: Investing - Theory, News & General
Topic: Vanguard to offer private equity investments? Thoughts?
Replies: 66
Views: 5441

Re: Vanguard to offer private equity investments? Thoughts?

I'm baffled by the interest some have in "Private Equity". If it was available for you to buy, it would no longer be "Private Equity", it would just be publicly owned equity with poor liquidity, poor disclosures, and un-audited balance sheets. It's almost like the SEC regulations that restrict how/...
by HEDGEFUNDIE
Sun Jun 23, 2019 7:43 am
Forum: Investing - Theory, News & General
Topic: Vanguard to offer private equity investments? Thoughts?
Replies: 66
Views: 5441

Re: Vanguard to offer private equity investments? Thoughts?

Here is the key rationale from the article: In a decade marked by his­tor­i­cally low in­ter­est rates, re­turn-starved pen­sions and sov­ereign wealth funds have poured money into pri­vate mar­kets. The move is re­shap­ing cap­i­tal mar­kets with the num­ber of ini­tial pub­lic of­fer­ings in the U...
by HEDGEFUNDIE
Sat Jun 22, 2019 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 202
Views: 17017

Re: Relationship mortgage discounts for moving a million assets

First Republic: 2.625% + 0 points, contingent on bringing over $1M in new assets ... I was ready to go forward with First Republic, but learned that they had a 1% fee for assets under management, and being a self-directed investor, I didn't need that. For the record, First Republic has a self-direc...
by HEDGEFUNDIE
Sat Jun 22, 2019 5:42 pm
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2196

Re: Seeking practical help understanding “bid-ask spread” for ETFs

vineviz wrote:
Sat Jun 22, 2019 4:42 pm
livesoft wrote:
Sat Jun 22, 2019 4:30 pm
There are some instances at bogleheads.org of investors selling shares in one account and buying them in another account for the same price. Thus, no spread.
There is ALWAYS a spread. And you can NEVER avoid paying it.
Not true if the shares are created out of thin air for you by the AP
by HEDGEFUNDIE
Sat Jun 22, 2019 11:43 am
Forum: Investing - Theory, News & General
Topic: Next 30 Years for Ray Dalio’s All Weather Portfolio?
Replies: 37
Views: 3050

Re: Next 30 Years for Ray Dalio’s All Weather Portfolio?

DesertDiva wrote:
Fri Jun 21, 2019 3:30 pm
Why not skip the gold and commodity tilt, put the money into VTSAX, and benefit from 3,601 distinct holdings?? To me, that is far more diversified.
Because in aggregate, they do not actually behave like distinct holdings.
by HEDGEFUNDIE
Sat Jun 22, 2019 11:21 am
Forum: Personal Consumer Issues
Topic: what was your worst major purchase? mine is a 2019 mazda3
Replies: 162
Views: 11826

Re: what was your worst major purchase? mine is a 2019 mazda3

TBD but I have a nagging suspicion it will be the house I am in now, a 1600 sqft’er bought last year for $1.8M, and appraised 12 months later at the same price. This is after years of double digit appreciation in this Bay Area neighborhood. Did you bite your fingernails completely off by now? :happ...
by HEDGEFUNDIE
Sat Jun 22, 2019 9:46 am
Forum: Personal Consumer Issues
Topic: what was your worst major purchase? mine is a 2019 mazda3
Replies: 162
Views: 11826

Re: what was your worst major purchase? mine is a 2019 mazda3

TBD but I have a nagging suspicion it will be the house I am in now, a 1600 sqft’er bought last year for $1.8M, and appraised 12 months later at the same price. This is after years of double digit appreciation in this Bay Area neighborhood.
by HEDGEFUNDIE
Fri Jun 21, 2019 10:53 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Glad to see the experimentation, but just wanted to point out that the 1 month inverse volatility strategy has only returned 15% YTD while the original strategy has returned 29%.

Just like with plain ol’ index funds, tracking error is a thing.
by HEDGEFUNDIE
Fri Jun 21, 2019 10:38 pm
Forum: Personal Investments
Topic: PIMIX, income, cash, interest rates?
Replies: 54
Views: 4877

Re: PIMIX, income, cash, interest rates?

Yes but given the short positions the 73.5% cannot really be thought of as such. Interestingly enough., on a 12m basis, BND, AGG are beating PIMIX.....the popularity (and size) curse? :greedy I think not .. I hold PIMIX for income and it has produced nearly twice the income of those other funds ......
by HEDGEFUNDIE
Fri Jun 21, 2019 9:51 pm
Forum: Personal Investments
Topic: understanding S&P 600 risk
Replies: 4
Views: 900

Re: understanding S&P 600 risk

Because over the past ten 10 years it has performed about the same as the S&P 500 with 1/3 more volatility.

https://www.portfoliovisualizer.com/fun ... F21%2F2019
by HEDGEFUNDIE
Thu Jun 20, 2019 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 202
Views: 17017

Re: Relationship mortgage discounts for moving a million assets

I was offered a 5/1 at 2.625% from Raymond James with no relationship on a ~$700k loan balance and a $1200 origination fee. Currently trying to negotiate with HSBC for a better rate with a $75k relationship. This rate was before this week's drop in treasury yields and I'm floating it for now. These...
by HEDGEFUNDIE
Wed Jun 19, 2019 6:49 pm
Forum: Investing - Theory, News & General
Topic: Facebook Libra Cryptocurrency - effect on stocks or bonds?
Replies: 42
Views: 3540

Re: Facebook Libra Cryptocurrency - effect on stocks or bonds?

The biggest impact of Libra will not be in the coin itself, but rather the consumer behavior in using the coin.

If this takes off I see it as equivalent to FB buying Venmo for the customer data. Now that’s unquestionably of value.
by HEDGEFUNDIE
Wed Jun 19, 2019 10:31 am
Forum: Personal Finance (Not Investing)
Topic: With hindsight, what signs indicated you were about to lose your job?
Replies: 127
Views: 11299

Re: With hindsight, what signs indicated you were about to lose your job?

My very first job out of college in 2008 was at a prestigious hedge fund in Manhattan. Lehman Brothers collapsed exactly two weeks after I started work. Two years later the fund had lost around half of its AUM, meaning its revenue was essentially cut in half as well. The fund’s investments were actu...
by HEDGEFUNDIE
Wed Jun 19, 2019 9:56 am
Forum: Investing - Theory, News & General
Topic: Utilities - worth another look?
Replies: 98
Views: 6856

Re: Utilities - worth another look?

So, it is a good idea to shift some funds to Utilities? All of this diversification discussion is interesting but not that helpful to me in deciding to make some changes or not. If you have common 3-fund portfolio of 50% US stocks (VTSAX), 25% VTI, and 25% BND, would shifting to 40/25/25/10 VPU (fo...
by HEDGEFUNDIE
Tue Jun 18, 2019 10:37 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

I've been following this thread since the beginning and I have no doubt that this strategy would have worked in the past and will probably continue to work into the near future. What I can't wrap my head around is why this would work long term? The stock market grows because of inflation and the gr...
by HEDGEFUNDIE
Tue Jun 18, 2019 9:00 pm
Forum: Personal Investments
Topic: MetLife Preference Premier Variable Annuity Keep or Dump
Replies: 12
Views: 846

Re: MetLife Preference Premier Variable Annuity Keep or Dump

You definitely shouldn’t get locked into another 10 year contract.

If you were going to annuitize, you should do it ASAP. The longer you wait the less lifetime payout you will receive.
by HEDGEFUNDIE
Tue Jun 18, 2019 7:44 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Hi Hedgefundie, Your comparison basically assumes that interest rates will continue to drop over the next 12 years. When comparing different implementations of the same basic strategy you need to make sure the equity and interest rate exposures are in a similar ratio. For example you can look at th...
by HEDGEFUNDIE
Tue Jun 18, 2019 6:18 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Hi Hedgefundie, Your comparison basically assumes that interest rates will continue to drop over the next 12 years. When comparing different implementations of the same basic strategy you need to make sure the equity and interest rate exposures are in a similar ratio. For example you can look at th...
by HEDGEFUNDIE
Tue Jun 18, 2019 2:07 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Unlike this thread I use highly leveraged short term bonds (about 20x) but it's mostly the same as leveraging long term bonds. My results have been... interesting, to say the least. 2016-2017: Huge gains, something like 50% CAGR. The gains came entirely from the stocks side, while the bonds steadil...
by HEDGEFUNDIE
Tue Jun 18, 2019 2:00 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Final note on the PIMCO fund. It presents an interesting opportunity to compare futures vs. daily leveraged ETF implementations: https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=2&startYear=1985&firstMonth=1&endYear=2019&lastMonth=12&calendarAligned=true&endDate=06%2F17%2F2019&...
by HEDGEFUNDIE
Tue Jun 18, 2019 11:53 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Final note on the PIMCO fund. It presents an interesting opportunity to compare futures vs. daily leveraged ETF implementations: https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=2&startYear=1985&firstMonth=1&endYear=2019&lastMonth=12&calendarAligned=true&endDate=06%2F17%2F2019&i...
by HEDGEFUNDIE
Tue Jun 18, 2019 11:48 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Comparing the PIMCO fund with the simulated 3x funds, the latter comes close on Sharpe and beats on Sortino (which is the better metric anyway). As expected, the 3x strategy has a salutary effect during market crashes.

Image
by HEDGEFUNDIE
Tue Jun 18, 2019 11:19 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

mrspock wrote:
Tue Jun 18, 2019 11:16 am
gw wrote:
Tue Jun 18, 2019 10:52 am
Hot tip - try with 10x leverage - it's even better!
... first they ridicule you.
20 years from now when my M1 balance hits $10M I’d be happy to invite everyone who has contributed to this thread onboard my yacht. Especially the haters.
by HEDGEFUNDIE
Tue Jun 18, 2019 10:59 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

The institutional PIMCO "Plus" funds are available to anyone with a Vanguard Brokerage account for $25k minimum. I've held them in my Roth for the last 10 years with good results. In my opinion they have expected Sharp ratios higher than the strategy advocated in this thread, primarily due to the e...
by HEDGEFUNDIE
Tue Jun 18, 2019 10:55 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Hi Hedgefundie, If 12 years ago you had placed a bet that long term rates would drop over the next 12 years, you would have won your bet. There is no additional information content in your statement above. Looking at this thread there are many instances of irrational thinking: 1) mental accounting ...
by HEDGEFUNDIE
Tue Jun 18, 2019 10:33 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

The institutional PIMCO "Plus" funds are available to anyone with a Vanguard Brokerage account for $25k minimum. I've held them in my Roth for the last 10 years with good results. In my opinion they have expected Sharp ratios higher than the strategy advocated in this thread, primarily due to the e...
by HEDGEFUNDIE
Tue Jun 18, 2019 10:17 am
Forum: Investing - Theory, News & General
Topic: Utilities - worth another look?
Replies: 98
Views: 6856

Re: Utilities - worth another look?

Adding in TMF to the maximum efficiency mix, say weighted at 37 TMF/63 max efficient, does well to smooth out some bumps. I get for 2005 to present CAGR: 10.86% versus 8.61% worst year: -5.99% versus -32.75% Sharpe ratio: 0.71 versus 0.62 Sortino ratio: 1.14 versus 0.86 Trying to keep the leveraged...
by HEDGEFUNDIE
Tue Jun 18, 2019 9:10 am
Forum: Personal Investments
Topic: What percentage of total portfolio in REIT's do you have? Why?
Replies: 161
Views: 8862

Re: What percentage of total portfolio in REIT's do you have? Why?

10% of total portfolio is in VNQ. The main reason is that I am in a VHCOL and rent. So this serves to expose me to the real estate market more like people who own their house in MCOL areas. In my mental model, this will also fund my down payment when I do buy a home. One other thing I have noticed ...
by HEDGEFUNDIE
Mon Jun 17, 2019 2:37 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

File this one under "this is not a new idea". PIMCO's StocksPLUS Long Duration Fund (PSLDX) was launched in September 2007. It has a 5-star rating from Morningstar, and can be found in some 401ks. It holds: 100% S&P 500 futures 100% Long Bonds (actively managed, both Treasury & Corporate) -100% 3-mo...
by HEDGEFUNDIE
Sun Jun 16, 2019 8:49 pm
Forum: Investing - Theory, News & General
Topic: Question about SPIVA and active vrs passive metrics
Replies: 11
Views: 431

Re: Question about SPIVA and active vrs passive metrics

Most active funds with low fees are closet index funds. The few that have activeshare have a better chance to outperform, but it's still less than 50-50. Rick Ferri Rick's point is a good one. In the context of the PRIMECAP example I gave above, consider the following. In the last 10 years look at ...
by HEDGEFUNDIE
Sun Jun 16, 2019 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4025

Re: Career advice — asking for the “gray hair perspective”

Are we talking law or management consulting? If the latter, there are plenty of firms that would love to have your expertise on staff. That's interesting. Why do you say that? To answer your question, I guess it would fall more on the management consulting side of the spectrum, but most of us are l...
by HEDGEFUNDIE
Sun Jun 16, 2019 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Doing Your Own Taxes
Replies: 36
Views: 3149

Re: Doing Your Own Taxes

I used FreeTaxUSA for the first time this year. Pros: Almost free to complete and to file both Federal and State returns. Cons: You have to know what you’re doing. For example, they asked how much mortgage interest I wanted to deduct. If I didn’t already know about the new tax law limiting deduction...
by HEDGEFUNDIE
Sun Jun 16, 2019 7:49 pm
Forum: Investing - Theory, News & General
Topic: Question about SPIVA and active vrs passive metrics
Replies: 11
Views: 431

Re: Question about SPIVA and active vrs passive metrics

Thanks, that makes sense. However, doesn't it suggest that those active fund managers would likely be capable of beating the market with some regularity if they didn't charge fees to the investor? No it doesn’t. The ones that beat can’t repeat. That’s why Bogleheads invest the way we do. Cheers Exc...
by HEDGEFUNDIE
Sun Jun 16, 2019 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4025

Re: Career advice — asking for the “gray hair perspective”

Are we talking law or management consulting?

If the latter, there are plenty of firms that would love to have your expertise on staff.
by HEDGEFUNDIE
Sun Jun 16, 2019 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options - should I proceed?
Replies: 8
Views: 716

Re: Mortgage refinance options - should I proceed?

You may be underestimating the savings impact of an ARM.

You can probably get a 5/1 ARM for 2.75 - 3%

That’s $10k/yr savings on interest compared to your current loan, $50k total savings.

You said you will likely be in the house for 5 years. What about afterward?
by HEDGEFUNDIE
Sun Jun 16, 2019 4:39 pm
Forum: Investing - Theory, News & General
Topic: So much for financial predictions, eh?
Replies: 46
Views: 4420

Re: So much for financial predictions, eh?

CU Later: Great post. Thank you. Nobody knows nothing - John Bogle Solution: Own the market and stay-the-course. Best wishes. Taylor In this case, the prediction was about bonds. Plenty of Bogleheads were encouraging folks to go shorter in their bond holdings. Because “rates have nowhere to go but ...
by HEDGEFUNDIE
Sun Jun 16, 2019 1:59 pm
Forum: Investing - Theory, News & General
Topic: So much for financial predictions, eh?
Replies: 46
Views: 4420

Re: So much for financial predictions, eh?

CU Later: Great post. Thank you. Nobody knows nothing - John Bogle Solution: Own the market and stay-the-course. Best wishes. Taylor In this case, the prediction was about bonds. Plenty of Bogleheads were encouraging folks to go shorter in their bond holdings. Because “rates have nowhere to go but ...
by HEDGEFUNDIE
Sun Jun 16, 2019 8:37 am
Forum: Investing - Theory, News & General
Topic: Utilities - worth another look?
Replies: 98
Views: 6856

Re: Utilities - worth another look?

If it is not a logical problem, then kindly answer my question from above. Is Portfolio C more or less diversified than Portfolio B? You did the math wrong. B and C should have the exact same diversification ratio. I don’t think so. Show me where the math is wrong. Portfolio B and C are different p...
by HEDGEFUNDIE
Sun Jun 16, 2019 8:16 am
Forum: Investing - Theory, News & General
Topic: Utilities - worth another look?
Replies: 98
Views: 6856

Re: Utilities - worth another look?

That's a good observation. A similar logical issue occurs with risk parity. IMO this logical issue makes the diversification ratio less useful as an objective measurement of diversification, because the DR of TSM alone is 1, adding VPU increases the DR, but VPU is already part of TSM, so you are ad...
by HEDGEFUNDIE
Sun Jun 16, 2019 7:55 am
Forum: Investing - Theory, News & General
Topic: Utilities - worth another look?
Replies: 98
Views: 6856

Re: Utilities - worth another look?

That's a good observation. A similar logical issue occurs with risk parity. IMO this logical issue makes the diversification ratio less useful as an objective measurement of diversification, because the DR of TSM alone is 1, adding VPU increases the DR, but VPU is already part of TSM, so you are ad...
by HEDGEFUNDIE
Sun Jun 16, 2019 7:51 am
Forum: Investing - Theory, News & General
Topic: The Case Against ETFs
Replies: 193
Views: 8664

Re: The Case Against ETFs

Personally, I will stick with index funds over ETFs. Index funds can be explained in detail in a paragraph or two. I have read every page in the wiki that references or explains ETFs, and I've read them several times over. I've read tens or likely even 100 forum topics on ETFs as well. All this tim...
by HEDGEFUNDIE
Thu Jun 13, 2019 10:23 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2198
Views: 160440

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Coming back to this thread, I think a similar bandwagon effect is happening due to the long rally in long term bonds and negative correlation with equities. What might cause the strategy to lag? Nobody thinks of inflation as a threat today, but this is the one thing that will really set back the le...
by HEDGEFUNDIE
Thu Jun 13, 2019 5:40 pm
Forum: Investing - Theory, News & General
Topic: The Case Against ETFs
Replies: 193
Views: 8664

Re: The Case Against ETFs

I agree that active mutual funds are bad. But I’d argue that “passive” ETFs have encouraged investors to trade more frequently. And this hurts returns. You could argue it, but without any evidence how convinced should anyone be by that argument? SPIVA and DALBAR both report active performance every...
by HEDGEFUNDIE
Thu Jun 13, 2019 4:44 pm
Forum: Investing - Theory, News & General
Topic: The Case Against ETFs
Replies: 193
Views: 8664

Re: The Case Against ETFs

Two thoughts: 1. The vast majority of actively managed funds are actually mutual funds, not ETFs. This is because ETFs are required to report their holdings daily, which would give away the active manager's strategy. https://www.fidelity.com/learning-center/investment-products/etf/types-of-etfs-act...
by HEDGEFUNDIE
Thu Jun 13, 2019 2:55 pm
Forum: Investing - Theory, News & General
Topic: The Case Against ETFs
Replies: 193
Views: 8664

Re: The Case Against ETFs

Interesting, totally agree on actively managed mutual funds! It just seems like there’s a false choice between actively MFs and passive ETFs. Bogle coined the term Traditional Index Funds. The hallmark of Vanguard. It seems like Vanguard and Bogleheads are turning away from that vision and embracin...
by HEDGEFUNDIE
Thu Jun 13, 2019 2:48 pm
Forum: Investing - Theory, News & General
Topic: The Case Against ETFs
Replies: 193
Views: 8664

Re: The Case Against ETFs

Two thoughts: 1. The vast majority of actively managed funds are actually mutual funds, not ETFs. This is because ETFs are required to report their holdings daily, which would give away the active manager's strategy. https://www.fidelity.com/learning-center/investment-products/etf/types-of-etfs-acti...