Search found 34713 matches

by nisiprius
Thu Apr 19, 2018 8:17 am
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

With regard to the nature of the BTOP50 index, I emailed BarclayHedge with some questions and received a reply saying: --returns are net of fees --the April return as of April 18 reflects an estimate of the Index return from April 1 - 17 based on the daily returns of he underlying funds. --The advis...
by nisiprius
Thu Apr 19, 2018 8:11 am
Forum: Investing - Theory, News & General
Topic: Goof? Prime MM, "retail," "Admiral," $5 million minimum?
Replies: 15
Views: 1237

Re: Goof? Prime MM, "retail," "Admiral," $5 million minimum?

[And a later edit - I found Vanguard's announcement of the name change from Institutional to Admiral - https://pressroom.vanguard.com/news/Press_Release_Vanguard_Prime_Tax_Exempt_MMF_for_Indiv_06.16.15.html Bingo. Thanks to Dantes and to whose who pointed out that institutions can't hold this any m...
by nisiprius
Thu Apr 19, 2018 6:38 am
Forum: Investing - Theory, News & General
Topic: Lack of FDIC Insurance a big deal?
Replies: 18
Views: 1470

Re: Lack of FDIC Insurance a big deal?

It's not totally meaningless. As far as I know, to date, there has been exactly one money market mutual fund that has ever collapsed, and oddly enough it was the grandaddy of them all, the Reserve Primary Money Market Fund. The final outcome was that all of the fund's investors eventually got almost...
by nisiprius
Thu Apr 19, 2018 6:10 am
Forum: Investing - Theory, News & General
Topic: Goof? Prime MM, "retail," "Admiral," $5 million minimum?
Replies: 15
Views: 1237

Re: Goof? Prime MM, "retail," "Admiral," $5 million minimum?

munemaker wrote:
Thu Apr 19, 2018 6:04 am
No, I don't think it is a mistake.

The Admiral shares are to pass lower expense ratios on to larger account holders (not for pikers).
Every other Admiral share-class fund I know of has a minimum of either $10,000 (index funds) or $50,000 (non-index funds).
by nisiprius
Thu Apr 19, 2018 5:52 am
Forum: Investing - Theory, News & General
Topic: Goof? Prime MM, "retail," "Admiral," $5 million minimum?
Replies: 15
Views: 1237

Goof? Prime MM, "retail," "Admiral," $5 million minimum?

Do you think this is a goof and someone typed "Admiral" when they meant to type "Institutional?" It's too rich for my blood, that's for sure. VMMRX web page https://imgur.com/t53FTHQ.png It's "fund number" 0066; the best evidence I see of a goof is that the actual HTML page title code is "<TITLE>Van...
by nisiprius
Thu Apr 19, 2018 5:47 am
Forum: Investing - Theory, News & General
Topic: The cost of maintaining stable NAV in money market funds
Replies: 5
Views: 545

Re: The cost of maintaining stable NAV in money market funds

Tangentially, I was surprised to realize that the Vanguard Prime Money Market Fund currently has the highest expense ratio of all the mutual funds I hold. It's not that it's a big deal or worth fussing about, but... does know where to find past expense ratios? I'm almost sure that it used have the l...
by nisiprius
Wed Apr 18, 2018 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to argue for S&P
Replies: 15
Views: 812

Re: How to argue for S&P

Very likely the people who select funds for your 401(k) only choose funds that have outperformed in the past, so it's 20/20 hindsight. The problem is that there's no evidence that outperformance persists. For example, Morningstar has officially acknowledged that its star ratings do not show persiste...
by nisiprius
Wed Apr 18, 2018 4:05 pm
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

Barclay BTOP50 Index The BTOP50 Index seeks to replicate the overall composition of the managed futures industry with regard to trading style and overall market exposure. The BTOP50 employs a top-down approach in selecting its constituents. The largest investable trading advisor programs, as measur...
by nisiprius
Wed Apr 18, 2018 3:59 pm
Forum: Investing - Help with Personal Investments
Topic: Please help me with arguments for/against actively managed...
Replies: 34
Views: 1436

Re: Please help me with arguments for/against actively managed...

There is a classic article out there called "Alpha Hunters and Beta Grazers" by Martin Leibowitz. It talks about under what conditions you should be active - "Alpha", and when passive - "Beta" It is here, Leibowitz, Martin A., Alpha Hunters and Beta Grazers. Financial Analysts Journal, Vol. 61, No....
by nisiprius
Wed Apr 18, 2018 3:52 pm
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

Lack_ey, I agree that the shape of the BTOP50 index looks more like some kind of continuous, smooth slowdown, not a corner at 2007. I'm not quite sure what the BTOP50 Index is; these don't seem to be mutual funds: AlphaGen Capital Limited (Long Short Agriculture Fund AlphaSimplex Group, LLC (Managed...
by nisiprius
Wed Apr 18, 2018 12:56 pm
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

...So, what am I to conclude? course of action?... In my case, my chosen course of action is: Ignore "innovative" mutual funds that, for the first time, finally bring to retail investors strategies and asset classes, formerly available only to sophisticated wealthy investors, hedge funds, and insti...
by nisiprius
Wed Apr 18, 2018 10:52 am
Forum: Investing - Help with Personal Investments
Topic: Weighted Expense Ratio Calculator
Replies: 6
Views: 438

Re: Weighted Expense Ratio Calculator

I just look at my list of holdings on Vanguard's websites, see that the highest expense ratio of any fund I own is 0.16%, figure the weighted ratio must be lower than that, and, frankly, feel that's all I need to know. The last time I calculated a weighted average expense ratio was when someone is f...
by nisiprius
Wed Apr 18, 2018 10:47 am
Forum: Investing - Theory, News & General
Topic: Rise in rates continues - good for fixed income investors and banks
Replies: 6
Views: 1063

Re: Rise in rates continues - good for fixed income investors and banks

It also feels more like "normal equilibrium." And personally, at the moment, being a retiree with important cash and bond allocations, my unhappiness at the one-year return for Vanguard Total Bond and Vanguard Inflation-Protected Securities only having been 0.09% and 0.38% respectively, is tolerable...
by nisiprius
Wed Apr 18, 2018 9:52 am
Forum: Investing - Theory, News & General
Topic: Theoretical question. What would happen if 100% of investors are buy and hold.
Replies: 18
Views: 1583

Re: Theoretical question. What would happen if 100% of investors are buy and hold.

This "theoretical question" is, in fact, a standard (and nonsensical) talking point that is often made as an attack on index funds. It makes as much sense as asking Theoretically, what would happen if every 100% of all Apple stockholders placed "sell" orders for all of their Apple shares? Theoretica...
by nisiprius
Wed Apr 18, 2018 7:16 am
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

...The raison d'etre of CTAs (commodity trading advisors, i.e. managed futures) has always been crisis alpha... Well, look at the chart. Both the index and the category average existed in 2008-2009. What do you mean by "crisis alpha?" If you mean that they stayed level instead of plunging in 2008-2...
by nisiprius
Wed Apr 18, 2018 7:07 am
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

Excellent thread. I'm late to the conversation. You may find these two links interesting: 1. https://s3.amazonaws.com/static.contentres.com/media/documents/1272fad4-2828-4f8e-9be2-0125290f17a7.pdf I don't find it interesting, I find it frustrating because I am 99.9% certain that it is just plain wr...
by nisiprius
Tue Apr 17, 2018 7:36 pm
Forum: Investing - Help with Personal Investments
Topic: Please help me with arguments for/against actively managed...
Replies: 34
Views: 1436

Re: Please help me with arguments for/against actively managed...

Fund fees predict success or failure The expense ratio is the most proven predictor of future fund returns. We find that it is a dependable predictor when we run the data.... we have updated the data to show just how strong and dependable fees are as a predictor of future success. That's not to say...
by nisiprius
Tue Apr 17, 2018 6:23 pm
Forum: Investing - Theory, News & General
Topic: How Warren Buffett Won His Multi-Million Dollar Long Bet
Replies: 27
Views: 3306

Re: How Warren Buffett Won His Multi-Million Dollar Long Bet

...One question though for the Total market gurus here: Why does one of the most successful investors in the world, repeatedly stress (in his 2018 annual letter) that one should invest in the American economy for the long term, specifically the S&P 500. He never once mentions investing in the the T...
by nisiprius
Tue Apr 17, 2018 4:48 pm
Forum: Investing - Theory, News & General
Topic: N.Y. Attorney General Forces Vanguard, BlackRock, Others To Disclose Active Share
Replies: 5
Views: 1022

Re: N.Y. Attorney General Forces Vanguard, BlackRock, Others To Disclose Active Share

I think it's a Good Thing. More information is better. According to the article, the fund companies affected were calculating this already and disclosing it to institutional investors, so it shouldn't cost them anything to comply--and it can't cost that much to comply anyway. Why shouldn't retail in...
by nisiprius
Tue Apr 17, 2018 3:01 pm
Forum: Investing - Theory, News & General
Topic: How Warren Buffett Won His Multi-Million Dollar Long Bet
Replies: 27
Views: 3306

Re: How Warren Buffett Won His Multi-Million Dollar Long Bet

Protégé Partners specializes in fund-of-hedge-funds investing. That was their schtick, that's why Seides did it. In their words, Through tenured judgment, deep-dive due diligence and pro-active risk management, we strive to identify best-in-class managers and put capital to work through arms-length,...
by nisiprius
Tue Apr 17, 2018 2:50 pm
Forum: Personal Consumer Issues
Topic: underwater camera advice
Replies: 18
Views: 539

Re: underwater camera advice

Warning: 1) I have not used mine underwater. I haven't even tried it out underwater. 2) Obviously this isn't a professional-quality camera. My little Sony DSC-TX30, which is so small that I just have it on me all the time--including right now--in a holder on my belt is supposed to be waterproof. As ...
by nisiprius
Tue Apr 17, 2018 11:37 am
Forum: Investing - Theory, News & General
Topic: NAESX - is not really Small Cap?!
Replies: 36
Views: 2109

Re: NAESX - is not really Small Cap?!

...[CRSP has] a megacap index, largecap index, midcap index, and smallcap index. The large cap index corresponds to the combination of the midcap and megacap indices . This means that all stocks in the midcap index are contained in the largecap index. The largecap index contains just a little over ...
by nisiprius
Tue Apr 17, 2018 9:34 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Don’t Exclude Emerging Markets
Replies: 30
Views: 2937

Re: Larry Swedroe: Don’t Exclude Emerging Markets

...Investors are certainly free to stick with a U.S.-only portfolio — but they shouldn't think that they don't have any exposure to the risks (currency and otherwise) of international and emerging markets. Last time I checked, U.S. companies in aggregate derive about 37% of their revenues overseas....
by nisiprius
Tue Apr 17, 2018 8:07 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Don’t Exclude Emerging Markets
Replies: 30
Views: 2937

Re: Larry Swedroe: Don’t Exclude Emerging Markets

He's probably using numbers from MSCI. MSCI World IMI total market cap is 45.92 trillion. MSCI Emerging Markets IMI total market is 6.33 trillion. MSCI's EM indexes include South Korea as an emerging market. I think that's it. That would do it. I see that Fidelity's FSGUX, which uses MSCI ACWI Ex-U...
by nisiprius
Tue Apr 17, 2018 6:56 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Don’t Exclude Emerging Markets
Replies: 30
Views: 2937

Re: Larry Swedroe: Don’t Exclude Emerging Markets

I don't think the difference between EM = 9% vs 13% of global market cap is important. It's just a puzzle. I can't seem to account for it by including China A shares or taking account of the recent US stock market fluctuations. ADDED: I think Selters, below, got it. It's probably MSCI's categorizati...
by nisiprius
Mon Apr 16, 2018 8:10 pm
Forum: Investing - Theory, News & General
Topic: "The Only Investment Guide You'll Ever Need" Kindle daily deal
Replies: 7
Views: 1518

Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

It's awfully good. It's too bad that there are things in it that are glaringly out of date. I haven't gotten to the part, except to glance at it, where he become an advocates for Joel Greenblatt and the "Magic Formula." I am trying to decide whether to give it as a gift to my twenty-year-old grandda...
by nisiprius
Mon Apr 16, 2018 8:05 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Don’t Exclude Emerging Markets
Replies: 30
Views: 2937

Re: Larry Swedroe: Don’t Exclude Emerging Markets

Added: Selters, below, figured it out, I think. MSCI's index and category definitions include South Korea as an emerging market, and South Korea is about 2% of world global market cap, and that's just about enough to account for the difference. It's not a big deal, but does anyone have a source for ...
by nisiprius
Mon Apr 16, 2018 7:27 pm
Forum: Personal Consumer Issues
Topic: Costco Free Screenings
Replies: 16
Views: 2506

Re: Costco Free Screenings

Never heard of this before... well, I see that the only one in my state isn't near where I live--isn't offered in the Costco I usually go to. I would have thought that most primary care doctors would be doing this, and more than this, but it might be a nice little plus for people who, for whatever r...
by nisiprius
Mon Apr 16, 2018 7:20 pm
Forum: Investing - Help with Personal Investments
Topic: Easy way to compare funds, indexes, stock
Replies: 10
Views: 762

Re: Easy way to compare funds, indexes, stock

You can do almost everything you asked for, except for taxes, using Morningstar growth charts. See this article. Growth charts include dividends. The big Morningstar trick is that you must begin by plotting a mutual fund first if you want to get growth charts. You can then add ETFs or individual sto...
by nisiprius
Mon Apr 16, 2018 4:06 pm
Forum: Investing - Theory, News & General
Topic: Meb Faber/Cambria/Trinity Funds
Replies: 44
Views: 2816

Re: Meb Faber/Cambria/Trinity Funds

...It is hard to figure out how he actually invest his own money from the podcast... I can't find the archived copy in the archive.org Wayback Machine--"his" website seems to have morphed from mebanefaber.com to mebfaber.com to worldbeta.com... and he was involved in something called the "Ivy Portf...
by nisiprius
Mon Apr 16, 2018 11:35 am
Forum: Investing - Help with Personal Investments
Topic: How 'bad' are American Funds through UBS?
Replies: 12
Views: 615

Re: How 'bad' are American Funds through UBS?

American Funds are not bad. William J. Bernstein remarked that privately held fund companies (including American and Fidelity), which only have to satisfy the company owner, seem to have lower fees and be generally less greedy than the public companies that have to answer to their shareholders. I wo...
by nisiprius
Mon Apr 16, 2018 11:16 am
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

With regard to "this is just how you'd expect these things to perform during a bull market," a couple of points. First, I did not compare them to stocks, nor bonds, nor 60/40. The only reason I showed stock and bonds was to show what happens when you look at category averages instead of known-in-hin...
by nisiprius
Mon Apr 16, 2018 8:16 am
Forum: Investing - Theory, News & General
Topic: The World in 2050 — GDP & Stock Market Capitalization
Replies: 52
Views: 3664

Re: The World in 2050 — GDP & Stock Market Capitalization

In the space of one hundred and seventy-six years the Lower Mississippi has shortened itself two hundred and forty-two miles. That is an average of a trifle over one mile and a third per year. Therefore, any calm person, who is not blind or idiotic, can see that in the Old Oolitic Silurian Period,'...
by nisiprius
Mon Apr 16, 2018 7:08 am
Forum: Investing - Theory, News & General
Topic: NAESX - is not really Small Cap?!
Replies: 36
Views: 2109

Re: NAESX - is not really Small Cap?!

...Yeah, one needs to be careful about using the Morningstar breakpoints for evaluating index funds that may use different construction methodologies. The same goes for the value/blend/growth scale, as Morningstar also uses definitions that differ from many index funds (including Vanguard). Mid-cap...
by nisiprius
Mon Apr 16, 2018 6:34 am
Forum: Investing - Theory, News & General
Topic: Using Stock/Bond Market Total Valuations to Guide Portfolio Allocations
Replies: 9
Views: 961

Re: Using Stock/Bond Market Total Valuations to Guide Portfolio Allocations

...One of the key principles here seems to be to use an index fund to let the market decide on how much of my money should be invested with each company that issues stocks... I'm curious to know if anybody thinks the same idea should guide a person's allocation of stocks to bonds. I did a quick goo...
by nisiprius
Sun Apr 15, 2018 4:44 pm
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

Looking at individual funds is like the people who say--with a straight face, I think--that active funds are superior to index funds and that the SPIVA results are misleading--because investors are smart enough to invest in the good active funds, not the bad ones. Why, just look--all the active fund...
by nisiprius
Sat Apr 14, 2018 6:49 pm
Forum: Investing - Theory, News & General
Topic: Trinity Study updated to 2018
Replies: 113
Views: 9339

Re: Trinity Study updated to 2018

A disservice is done every time the Trinity study is equated to a retirement income withdrawal strategy. As the latter, it would have to be the worst method. The thought of setting a withdrawal rate, then never looking again at actual outcome, portfolio balance, inflation, etc. is reckless. A disse...
by nisiprius
Sat Apr 14, 2018 6:20 pm
Forum: Investing - Help with Personal Investments
Topic: What advantages do a personalized portfolio have over a target date fund, in your opinion?
Replies: 49
Views: 2679

Re: What advantages do a personalized portfolio have over a target date fund, in your opinion?

In my case, the obvious one. Right or wrong, I have personal preferences, that I hold with sufficiently high conviction that I prefer to set my own allocations. I just can't quite bring myself to accept a target date fund or a LifeStrategy fund, when it's so easy to cook my own from scratch. I just ...
by nisiprius
Sat Apr 14, 2018 5:46 pm
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

What I envision as maybe a more representative analysis (but impractical for our purposes, taking too much work) would be to consider the effects of adding each individual fund to a baseline portfolio. Then we can say something like "X% of large blend funds improved portfolio outcomes, Y% made port...
by nisiprius
Sat Apr 14, 2018 4:50 pm
Forum: Investing - Theory, News & General
Topic: NAESX - is not really Small Cap?!
Replies: 36
Views: 2109

Re: NAESX - is not really Small Cap?!

NAESX; VTWO (Vanguard Russell 2000); VIOO (Vanguard S&P Small-cap 600); IJR (iShares Core S&P Small-Cap)

Image

Poor Vanguard NAESX. Looks like it landed just on the wrong side of Morningstar's arbitrary line.
by nisiprius
Sat Apr 14, 2018 2:40 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Don’t Underestimate Buyback Power
Replies: 12
Views: 2312

Re: Larry Swedroe: Don’t Underestimate Buyback Power

What he is saying in these two articles is not exactly contradictory, but still is an interesting contrast. In Look Beyond 60/40 Portfolio he says that future returns of stocks almost sure to be muted because of "valuations," and therefore you really ought to also invest in Stone Ridge alternatives...
by nisiprius
Sat Apr 14, 2018 1:39 pm
Forum: Investing - Theory, News & General
Topic: Two Centuries of U.S. Stock Market Indexes, 1802-2017
Replies: 47
Views: 3628

Re: Two Centuries of U.S. Stock Market Indexes, 1802-2017

I never even thought about the question of sector classification. There's a huge problem there, given that the GICS classification was not even created in 1999. So, this is "fantasy football," in that someone has, somehow, tried to classify companies in 1850 according to categories that were not cod...
by nisiprius
Sat Apr 14, 2018 1:12 pm
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 80
Views: 4530

Re: Unimpressive category averages of managed futures, multialternative, market neutral, etc.

...2) The large blend stock and intermediate-term bond categories are both terrible by this measure, as the category average simply provides almost pure negative alpha with high R^2 to the passive exposures. It's clear that you don't want to invest across the universe of available funds in these ca...
by nisiprius
Fri Apr 13, 2018 7:53 pm
Forum: Investing - Theory, News & General
Topic: Scatter plots, monthly and quarterly returns, Total Stock versus 500 Index
Replies: 9
Views: 738

Scatter plots, monthly and quarterly returns, Total Stock versus 500 Index

Not quite sure what this shows, but having done the work I thought I might as well share it with the forum. This was pursuant to a thread about whether two total stock market funds could be used as a pair for tax-loss harvesting, or whether they would be considered "substantially identical" for the ...
by nisiprius
Fri Apr 13, 2018 6:22 pm
Forum: Investing - Theory, News & General
Topic: Meb Faber/Cambria/Trinity Funds
Replies: 44
Views: 2816

Re: Meb Faber/Cambria/Trinity Funds

Does the orange line look to you like an elephant in the living room? https://imgur.com/KzcXftM.png Mebane Faber attempted to put into action his much-downloaded paper and his much-lauded tactical asset allocation strategy, in the form of an ETF with the ticker symbol GTAA, for Global Tactical Asset...
by nisiprius
Fri Apr 13, 2018 6:05 pm
Forum: Investing - Help with Personal Investments
Topic: Lazy Portfolio - Using Fidelity ETF's Vs Vanguard ETF's
Replies: 29
Views: 2362

Re: Lazy Portfolio - Using Fidelity ETF's Vs Vanguard ETF's

Whoops, what's the difference between IXUS and ACWX? Boy, is this stuff confusing. OK: they both include both developed and emerging markets, but ACWX "only" includes large caps and mid-caps while IXUS reaches down into small caps. Since IXUS is on the Fidelity no-commission list and ACWX isn't, the...
by nisiprius
Fri Apr 13, 2018 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: Lazy Portfolio - Using Fidelity ETF's Vs Vanguard ETF's
Replies: 29
Views: 2362

Re: Lazy Portfolio - Using Fidelity ETF's Vs Vanguard ETF's

I personally would have no concerns. Not even about IEFA being developed markets only. However, I think the ETF you might want, as the counterpart to VXUS, would be ACWX. We can put the entire portfolios into PortfolioVisualizer. Portfolio 1, blue, is your BND/VXUS/VTI/VNQ, red is AGG/IEFA/ITOT/FREL...
by nisiprius
Fri Apr 13, 2018 3:02 pm
Forum: Investing - Theory, News & General
Topic: vanguard notice - retiring our old investment platform
Replies: 49
Views: 5361

Re: vanguard notice - retiring our old investment platform

And me, I haven't gotten that notice... and when I log in to the website, it is still not showing any of my accounts as "eligible!"
by nisiprius
Fri Apr 13, 2018 1:42 pm
Forum: Investing - Theory, News & General
Topic: Two Centuries of U.S. Stock Market Indexes, 1802-2017
Replies: 47
Views: 3628

Re: Two Centuries of U.S. Stock Market Indexes, 1802-2017

Darn. Excellent thread and I posted in it and I'd completely forgotten all about it. Glad to be reminded of it.
by nisiprius
Fri Apr 13, 2018 12:39 pm
Forum: Investing - Theory, News & General
Topic: Two Centuries of U.S. Stock Market Indexes, 1802-2017
Replies: 47
Views: 3628

Re: Two Centuries of U.S. Stock Market Indexes, 1802-2017

No, I am not an expert on the history of financial data, and there is a lot of interesting stuff in this thread I hadn't known. With regard to the CRSP data, there is a story behind it. I presented some of it in a thread, Origins of the CRSP; what about that 1926 starting point? . Here are the key p...