Search found 788 matches

by vesalius
Mon Jul 02, 2018 3:12 pm
Forum: Investing - Theory, News & General
Topic: Vanguard to offer non-Vanguard ETFs commission-free
Replies: 238
Views: 22924

Re: Vanguard to offer non-Vanguard ETFs commission-free

It'll be interesting to see if DFA funds will be in this list, especially since they're not inverse funds.. but DFA wants to only sell their funds through an advisor. That would be a disruptor if allowed! DFA has ETFs? Yes by proxy, they manage John Hancocks Multifactor ETFs JHMD Multifactor Develo...
by vesalius
Wed May 09, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Best cash-back credit card right now?
Replies: 42
Views: 5452

Re: Best cash-back credit card right now?

Wanted simple, ApplePay compatible with no fees and cards that automatically deposited cash back into an account or deducted from my bill.n Less muss/less fuss In my wallet: USAA Limitless Cashback Rewards 2.5% on everything PenFed Platinum Cash Rewards Visa 5% on gas/diesel Kept in the drawer or on...
by vesalius
Sun Feb 11, 2018 1:22 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1435
Views: 207981

Re: QSPIX - thoughts on interesting fund

I wonder how many of us Bogleheads appreciate that a typical 60% TSM / 40% TBM portfolio has at least 90% of its risk wrapped up in a single factor . Dave Dave: In my view, anyone who owns "60% TSM (Total U.S. Stock Market" and "40% TBM (Total U.S. Bond Market)" already has nearly all U.S. "factors...
by vesalius
Wed Jan 17, 2018 4:31 pm
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 55
Views: 8937

Re: International Small-cap Value Funds ??

VSS has actually outperformed its index by 30 bp per year over the last 3 years. (VSS did not do as well tracking in its first few years.) Impressive. VWO is only behind by .1%, less than the ER. 10 year return is more impressive, .09% in spite of higher ER in the past. Both Vanguard and Blackrock/...
by vesalius
Sat Dec 30, 2017 2:48 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: The Tax Efficiency Of Long -Short Strategies
Replies: 4
Views: 789

Re: Larry Swedroe: The Tax Efficiency Of Long -Short Strategies

At AQR these are the new funds developed to take advantage of this potential Tax savings. Large Cap Relaxed Constraint Equity Fund Small Cap Relaxed Constraint Equity Fund International Relaxed Constraint Equity Fund Emerging Relaxed Constraint Equity Fund Alternative Risk Premia Fund Each of the re...
by vesalius
Fri Dec 29, 2017 8:23 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 209
Views: 32586

Re: My Favorite Alternative Funds

Alternative Risk Premia Fund (QRPIX) - Invest long and short across four different asset groups: Stocks & Industries, Equity Indices, Fixed Income and Currencies based on six investment styles: Value, Momentum, Carry, Defensive, Trend and Volatility . Style Premia Alternative Fund (QSPIX) - Invest ...
by vesalius
Fri Dec 29, 2017 8:19 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Managed Vol Strategies Work
Replies: 24
Views: 2776

Re: Larry Swedroe: Managed Vol Strategies Work

That is why I personally have substantial investment in them and I would invest more if I had more room in tax advantaged space. Note that AQR is coming out now with a tax aware version of Style Premia Alternative (QSPRX), QRPRX I think it is. I could now hold that in taxable account, bit different...
by vesalius
Fri Dec 29, 2017 12:10 pm
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

You are right on LP being damn near impossible to set up for many with the majority of savings in Company 401k type accounts. Unless you have access to a 401k brokerage window or your taxable+personal IRA is enough to handle the stock side and you go all bonds in the 401k.
by vesalius
Fri Dec 29, 2017 11:23 am
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

If someone were to go Larry style for the accumulation phase, I guess rather than say an 80/20 TSM/TBM, you might do something like 60/40 IJS (iShares small value)/IEI (iShares 1-3 yr treasury). The Larry is designed to lose less in a 2008 style crash, but max drawdown isn’t the most important cons...
by vesalius
Fri Dec 29, 2017 2:30 am
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

Longinvest - this is a fantastic post. Thank you for running the numbers for us. Choosing the timeframe of "just after the article was published until today" hardly seems to constitute cherry picking to me. It is cold hard facts that should provide a wake up call to anybody thinking about changing ...
by vesalius
Thu Dec 28, 2017 1:47 pm
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

The difference between something being a one-time historical fact or even anomaly, which is easily fact-checked as pointed out, and what Larry has consistently said innumerable times before and after the NY Times article is the intended benchmark of his 30/70 LP portfolio going forward, a 60/40 mark...
by vesalius
Thu Dec 28, 2017 1:22 pm
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

Bingo. Different portfolio allocations for different goals. Find what works for your situation and don't worry about trying to discredit or disprove other approaches. Exactly, too much time and energy is wasted here. Getting to the point that it is OK for others not to agree with your decisions and...
by vesalius
Thu Dec 28, 2017 12:00 pm
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

Well the NY Times article got one thing right. The LP with short treasuries did return about 10% a year over the 1970-2010 time period. But as far as I know Larry has suggested that the LP, with 30% SCV, has generally matched the returns of a portfolio of 60% LC + bonds -- NOT a portfolio of 100% s...
by vesalius
Tue Dec 26, 2017 1:49 pm
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

A cheaper iShares ETF version could be: 1. iShares Edge MSCI Multifactor USA Small-Cap ETF SMLF 2. iShares Edge MSCI Multifactor Intl Small-Cap ETF ISCF 3. iShares Edge MSCI Multifactor Emerging Markets ETF EMGF A cheaper Scwhab version could be: 1. Schwab Fundamental U.S. Small Company Index ETF F...
by vesalius
Tue Dec 26, 2017 10:24 am
Forum: Investing - Theory, News & General
Topic: What ever happened to the Larry portfolio?
Replies: 120
Views: 14735

Re: What ever happened to the Larry portfolio?

For those guessing or basing comments off old data on the Larry portfolio check this thread. Email from Larry Swedroe about "Reducing the Risk of Black Swans" book 2nd ed. Prior to moving into alternatives, Larry was recommending a simple 3 fund portfolio. Although the easiest version of that portfo...
by vesalius
Sat Dec 16, 2017 3:45 pm
Forum: Investing - Theory, News & General
Topic: My Favorite Alternative Funds
Replies: 209
Views: 32586

Re: My Favorite Alternative Funds

I would be interested in peoples opinions, at least those not dead set against alt funds, on AQR's newer Alternative Risk Premia Fund (QRPIX) in comparison to older and now closed Style Premia Alternative Fund (QSPIX). I have a current position in QSPIX. Alternative Risk Premia Fund (QRPIX) - Invest...
by vesalius
Fri Nov 24, 2017 11:44 pm
Forum: Investing - Theory, News & General
Topic: Why does everyone keep increasing their international stock %?
Replies: 101
Views: 11614

Re: Why does everyone keep increasing their international stock %?

Yes, like the way people cling to the idea that international diversification will improve risk adjusted returns despite decades of evidence contradicting that, or puzzling over some perceived 'home country bias' that seems a puzzle only if you believe in a faulty premise like the Efficient Market ...
by vesalius
Thu Nov 23, 2017 9:14 pm
Forum: Personal Consumer Issues
Topic: Replace TVs with Smart Tvs or not?
Replies: 57
Views: 5408

Re: Replace TVs with Smart Tvs or not?

Plasma TVs can use a lot of energy maybe big and heavy. Thin LED can be mounted on the wall. With limited usage it’s not cost-effective for the energy savings to replace. My only complaint against Smart hubs is when you’re trying to search for the title to stream, it is hard typing letter by letter...
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: 10265

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: 3417

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: 7491

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: 1735

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: 3553

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: 7491

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: 7783

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: 17488

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: 17488

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: 17488

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: 4041

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: 227
Views: 36865

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: 17488

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 :D 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 b...
by vesalius
Thu Jan 19, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Does pharmacy school ranking matter?
Replies: 42
Views: 5977

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: 3070

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: 18536

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: 18536

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: 1435
Views: 207981

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 returns a...
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: 3213

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 discus...
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: 2311

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: 2763

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: 2118

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: 3876

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: 6098

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: 17306

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 too good t...
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: 17306

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: 17306

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: 1964

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: 5333

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: 5333

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.re...
by vesalius
Wed Nov 23, 2016 10:22 am
Forum: Personal Consumer Issues
Topic: Karate/Taekwondo for an 8 year old?
Replies: 35
Views: 3365

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...