Search found 2237 matches

by azanon
Sat May 25, 2019 8:10 am
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

I think we're caught in a semantics discussion here. When I say growth, I mean, specifically as well as exclusively, a negative exposure to value factor. Growth and momentum are not the same thing, or I'm not using them to mean the same thing. Perhaps it is overly semantic, but I think it's worth a...
by azanon
Sat May 25, 2019 7:05 am
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

Yeah I don't even understand "multifactor" where the multi includes both Value and momentum. ISCF actually tilts growth, using morningstar's box. Though I'm no expert on factors, I know enough about them to know that momentum generally implies a pricey, hot, and popular stock, which is the near ant...
by azanon
Sat May 25, 2019 7:01 am
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

I am aware that the quants say that value and momentum factor really are two independent factors, but there is going to be an undeniable correlation with momentum and growth factor stock (a correlation well above 0). Conventional wisdom tends to automatically associate growth stocks with the moment...
by azanon
Fri May 24, 2019 3:14 pm
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

I had the same intuition, only coming around to my current position when no amount of searching through the data was revealing what I thought OUGHT to be there. Not saying there aren't ANY additional benefits, by the way, just that they are pretty marginal and expensive to come by. I need do run so...
by azanon
Fri May 24, 2019 3:09 pm
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

Yeah I don't even understand "multifactor" where the multi includes both Value and momentum. ISCF actually tilts growth, using morningstar's box. Morningstar's style boxes aren't constructed using factor exposure, and their definitions position "value" and "growth" as a continuum instead of the mat...
by azanon
Fri May 24, 2019 3:01 pm
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

How about portfoliovisualizer instead? ISCF is -0.34 on Value factor using their "factor regression". I don't use that tool a lot, but I did check to make sure that negative means not value, by plugging in some known "value" international funds (and they had positive value loading). i don't know ab...
by azanon
Fri May 24, 2019 2:56 pm
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

Yeah I don't even understand "multifactor" where the multi includes both Value and momentum. ISCF actually tilts growth, using morningstar's box. Though I'm no expert on factors, I know enough about them to know that momentum generally implies a pricey, hot, and popular stock, which is the near ant...
by azanon
Fri May 24, 2019 2:51 pm
Forum: Investing - Theory, News & General
Topic: Vanguard issues 10-year forecast for stock, bond market returns
Replies: 64
Views: 5882

Re: Vanguard issues 10-year forecast for stock, bond market returns

U.S. equity returns: 4% – 6% U.S. aggregate bond returns: 2.5% – 4.5% International equities returns: 7.5% – 9.5% International bond returns (hedged): 2% – 4% Vanguard also said it sees no imminent recession threat, and said the U.S. economy is currently in the mid- to late-stages of the business c...
by azanon
Fri May 24, 2019 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Pay for Masters in cash vs. retirement contributions?
Replies: 17
Views: 1052

Re: Pay for Masters in cash vs. retirement contributions?

So masters aren't free anymore? I admit it's been 23 years since I got mine, but back in the day, if you made a decent GRE, many schools would give you "tuition remission" (what I got) - (presumably because doing research for them was worth paying you for). And if you did a TA/RA, you made money go...
by azanon
Fri May 24, 2019 2:40 pm
Forum: Investing - Theory, News & General
Topic: Who killed value?
Replies: 23
Views: 2252

Re: Who killed value?

Every time a child says "I don't believe in factors," a factor dies... I can still hear the value-factor bell ring. Yeah value investing is definitely getting tested for several years now. But what are "we" to do? The only other popular idea for picking stocks, is to buy and hold proportionally mor...
by azanon
Fri May 24, 2019 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Pay for Masters in cash vs. retirement contributions?
Replies: 17
Views: 1052

Re: Pay for Masters in cash vs. retirement contributions?

So masters aren't free anymore? I admit it's been 23 years since I got mine, but back in the day, if you made a decent GRE, many schools would give you "tuition remission" (what I got) - (presumably because doing research for them was worth paying you for). And if you did a TA/RA, you made money goi...
by azanon
Fri May 24, 2019 2:09 pm
Forum: Investing - Theory, News & General
Topic: Switching from Vanguard to Schwab
Replies: 19
Views: 2506

Re: Switching from Vanguard to Schwab

Switch from Vanguard to Schwab five years ago. Could not be more pleased. Bonus of $5000 plus 100 free trades with costumer service that is much better than Vanguard. Vanguard just grew to big to fast without training staff properly but still a good company just not in Schwab’s league. Just one per...
by azanon
Fri May 24, 2019 2:00 pm
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

ISCF is the only cheap option I know of that includes a specific value tilt (but it is multifactor so the momentum tilt takes away from some of the value tilt). I used to be a holder of DLS, but sold out for cheaper options. Yes, but like you wrote, it is not really a value fund. However, I guess m...
by azanon
Fri May 24, 2019 1:51 pm
Forum: Investing - Theory, News & General
Topic: International Small-cap Value Funds ??
Replies: 88
Views: 13135

Re: International Small-cap Value Funds ??

ISCF is the only cheap option I know of that includes a specific value tilt (but it is multifactor so the momentum tilt takes away from some of the value tilt). I used to be a holder of DLS, but sold out for cheaper options. Any portfolio that already has exposure to US small cap value and ex-US la...
by azanon
Thu May 23, 2019 1:11 pm
Forum: Investing - Theory, News & General
Topic: "A Set-It-and-Forget-It Target-Date Series From Vanguard"
Replies: 73
Views: 6396

Re: "A Set-It-and-Forget-It Target-Date Series From Vanguard"

Vineviz is right about 65-75% equities being about average for an age 55 year old in 2019, 10+ year bull market, and no multi-year-long bear markets (defined as 5+ years) since 68'-82'. Of course that's NOT what I said. That allocation is roughly OPTIMAL for a 55 year old investor with "average" ri...
by azanon
Thu May 23, 2019 11:48 am
Forum: Investing - Theory, News & General
Topic: "A Set-It-and-Forget-It Target-Date Series From Vanguard"
Replies: 73
Views: 6396

Re: "A Set-It-and-Forget-It Target-Date Series From Vanguard"

I'm surprised by how aggressive these target-date funds are. For instance, at 10 years from retirement, they still allocate 70% in equities. I don't know, maybe it's just me who's unreasonably conservative... Your conservatism might be perfectly reasonable for you, but 65% to 75% equities at age 55...
by azanon
Thu May 23, 2019 10:13 am
Forum: Investing - Theory, News & General
Topic: "A Set-It-and-Forget-It Target-Date Series From Vanguard"
Replies: 73
Views: 6396

Re: "A Set-It-and-Forget-It Target-Date Series From Vanguard"

Let's add some more Experts - I feel we don't have enough yet. The center of gravity for retirees - 30% equities. Reckless conservatism at its best, with an added dose of only recognizing people as "experts" when they tell you what you want to hear. I love it. I'd be just fine if you left me comple...
by azanon
Thu May 23, 2019 9:47 am
Forum: Investing - Theory, News & General
Topic: "A Set-It-and-Forget-It Target-Date Series From Vanguard"
Replies: 73
Views: 6396

Re: "A Set-It-and-Forget-It Target-Date Series From Vanguard"

Don't like Zvi? Ask expert Wade Pfau whether you should be that exposed to equities in the first year of retirement. Okay, let's ask him. Wade, what do you think of lifecycle (aka target date) funds for most people? ... the lifecycle strategy still prevails as a better choice for the typical invest...
by azanon
Thu May 23, 2019 9:22 am
Forum: Investing - Theory, News & General
Topic: "A Set-It-and-Forget-It Target-Date Series From Vanguard"
Replies: 73
Views: 6396

Re: "A Set-It-and-Forget-It Target-Date Series From Vanguard"

Vanguard's Target date funds are a mistake because they are "through" type target date funds, that put Retirees in their initial years at considerable risk, right at a time when they're most vulnerable to sequence of return risks. Most people that retire can't get their job back, and VG's target dat...
by azanon
Wed May 22, 2019 10:46 am
Forum: Investing - Theory, News & General
Topic: Don't add currency risk on top of equity risk
Replies: 59
Views: 3610

Re: Don't add currency risk on top of equity risk

If currencies are ultimately zero-sum over a long period of time, and local currency bonds have lower correlation to other major asset classes than currency hedged one (they do- feel free to confirm at portfoliovisualizer), then I don't need to run any screens to realize that, all things being equal...
by azanon
Sat May 18, 2019 4:44 pm
Forum: Personal Consumer Issues
Topic: Honda CRV or Toyota RAV4 ?
Replies: 79
Views: 6213

Re: Honda CRV or Toyota RAV4 ?

One think I really like about the CX5 (2019, not sure about all previous years), which one ups both the RAV4 and CRV; Ours are all assembled in Japan (VIN starts with J). The RAV4/CRV are not. The 2019 RAV4 is made in Canada and Japan. Which build you get determines which plant it's assembled at......
by azanon
Sat May 18, 2019 4:38 pm
Forum: Personal Consumer Issues
Topic: Which car has the best or most comfortable cabin under 35K
Replies: 74
Views: 5937

Re: Which car has the best or most comfortable cabin under 35K

Even if the "rumor" is true, the Alltrak is the same vehicle as the Sportwagon, just has another 1.5" ish clearance. Sportwagon 4motion is optional, Alltrak is standard. Same vehicle. Some trim may be different. About the same price give or take 2k We agree on the difference between the two, but I ...
by azanon
Sat May 18, 2019 4:37 pm
Forum: Personal Consumer Issues
Topic: Which car has the best or most comfortable cabin under 35K
Replies: 74
Views: 5937

Re: Which car has the best or most comfortable cabin under 35K

The difference between the two are as you explained. Volkswagen was of the opinion that the differences were enough to consider them different cars with different names, not just a different trim level of the same car. I agree with VW. I imagine someone probably appreciated being informed that the ...
by azanon
Fri May 17, 2019 1:12 pm
Forum: Personal Consumer Issues
Topic: Which car has the best or most comfortable cabin under 35K
Replies: 74
Views: 5937

Re: Which car has the best or most comfortable cabin under 35K

It is all personal preference for the most part, but i find my VW Sportwagon Golf to be very comfortable cabin wise and the wife does as well. There won't be much time left to get one of those. Rumor mill is Sportswagon and regular Golf are going away in 2020 for the US market. Alltrak, GTI, and R ...
by azanon
Fri May 17, 2019 7:25 am
Forum: Personal Consumer Issues
Topic: Honda CRV or Toyota RAV4 ?
Replies: 79
Views: 6213

Re: Honda CRV or Toyota RAV4 ?

2. CRV uses a garbage CVT transmission, and the RAV4 doesn't. Also per scotty kilmer, CVT's are best avoided, and are complex and very expensive to fix, and less reliable. You sure about that? I thought a review of the RAV4 I read stated it had a CVT (2019). There aren't many small vehicles without...
by azanon
Fri May 17, 2019 7:19 am
Forum: Personal Consumer Issues
Topic: Which car has the best or most comfortable cabin under 35K
Replies: 74
Views: 5937

Re: Which car has the best or most comfortable cabin under 35K

It is all personal preference for the most part, but i find my VW Sportwagon Golf to be very comfortable cabin wise and the wife does as well. There won't be much time left to get one of those. Rumor mill is Sportswagon and regular Golf are going away in 2020 for the US market. Alltrak, GTI, and R ...
by azanon
Thu May 16, 2019 1:23 pm
Forum: Personal Consumer Issues
Topic: Honda CRV or Toyota RAV4 ?
Replies: 79
Views: 6213

Re: Honda CRV or Toyota RAV4 ?

We're also in the market for a similar car for our daughter who's in high school. We're ruled out the CRV because of the oil dilution thing. The RAV 4 is not on the radar, we might have to check it out. My thought is the VW golf/gti/tiguan might fit the bill because of the 6yr 72K mi warranty. She'...
by azanon
Thu May 16, 2019 12:33 pm
Forum: Personal Consumer Issues
Topic: Honda CRV or Toyota RAV4 ?
Replies: 79
Views: 6213

Re: Honda CRV or Toyota RAV4 ?

Long time Honda owner thinking about getting a new CRV. Was wondering how a RAV4 would compare especially on price and reliability. Your thoughts? Reliability, it's no contest for 3 reasons - RAV4 wins: 1. RAV4 engine is naturally aspired, vs CRV's turbo (which is causing major issues btw). Per Sco...
by azanon
Thu May 16, 2019 10:24 am
Forum: Personal Consumer Issues
Topic: Which car has the best or most comfortable cabin under 35K
Replies: 74
Views: 5937

Re: Which car has the best or most comfortable cabin under 35K

It is all personal preference for the most part, but i find my VW Sportwagon Golf to be very comfortable cabin wise and the wife does as well. There won't be much time left to get one of those. Rumor mill is Sportswagon and regular Golf are going away in 2020 for the US market. Alltrak, GTI, and R ...
by azanon
Thu May 16, 2019 9:53 am
Forum: Personal Consumer Issues
Topic: Honda CRV or Toyota RAV4 ?
Replies: 79
Views: 6213

Re: Honda CRV or Toyota RAV4 ?

Long time Honda owner thinking about getting a new CRV. Was wondering how a RAV4 would compare especially on price and reliability. Your thoughts? Reliability, it's no contest for 3 reasons - RAV4 wins: 1. RAV4 engine is naturally aspired, vs CRV's turbo (which is causing major issues btw). Per Sco...
by azanon
Thu May 16, 2019 7:23 am
Forum: Investing - Theory, News & General
Topic: Can future returns for the next 10 years really be predicted with CAPE?
Replies: 36
Views: 2215

Re: Can future returns for the next 10 years really be predicted with CAPE?

Said another way, the actual results doesn't necessarily mean that CAPE was flawed. What it means is that occasionally a long shot wins the race. The US won the past 5 years, and Country House won the Kentucky Derby. That's probabilities for you.... Sure, it's possible we just got lucky. That's abs...
by azanon
Wed May 15, 2019 3:12 pm
Forum: Investing - Theory, News & General
Topic: Can future returns for the next 10 years really be predicted with CAPE?
Replies: 36
Views: 2215

Re: Can future returns for the next 10 years really be predicted with CAPE?

Said another way, the actual results doesn't necessarily mean that CAPE was flawed. What it means is that occasionally a long shot wins the race. The US won the past 5 years, and Country House won the Kentucky Derby. That's probabilities for you.... Sure, it's possible we just got lucky. That's abs...
by azanon
Wed May 15, 2019 7:41 am
Forum: Investing - Theory, News & General
Topic: Can future returns for the next 10 years really be predicted with CAPE?
Replies: 36
Views: 2215

Re: Can future returns for the next 10 years really be predicted with CAPE?

It has less to do with prediction and more to do with probabilities. The value of using CAPE is probably the equivalent of being able to bet on the favorite horse at a racetrack (let's say a 2-1 horse), but getting the composite payout of all of the horses (let's say average 8-1) if you win. Point b...
by azanon
Tue May 14, 2019 4:08 pm
Forum: Investing - Theory, News & General
Topic: What's the highest ER fund available to you?
Replies: 13
Views: 1385

Re: What's the highest ER fund available to you?

I don't understand why the SEC isn't doing something about a few of those. Those north of 4% ER are outright criminal IMO.
by azanon
Tue May 14, 2019 12:52 pm
Forum: Investing - Theory, News & General
Topic: Nobody knows nothing and AA
Replies: 19
Views: 2207

Re: Nobody knows nothing and AA

Since no one can predict future returns are there any good strategies for AA where you adapt it to what the market is doing at any given time? Surely there is a way to market time to get better results than sticking to a set AA, right? Anybody actually able to out perform the standard rebalancing m...
by azanon
Tue May 14, 2019 11:00 am
Forum: Personal Consumer Issues
Topic: What non frugal things save money?
Replies: 80
Views: 9479

Re: What non frugal things save money?

The free coffee I get at work is awful. So I go in with a coworker and buy a big bag of Dunkin Donuts brand from BJ's. This saves me from (a) having to buy a big bag on my own and (b) stopping at a local coffee shop every day. Only do that (buy a "big" bag) if it's whole beans. If this is ground co...
by azanon
Tue May 14, 2019 9:10 am
Forum: Investing - Theory, News & General
Topic: Firecalc is telling me to be [aggressive]: 85/15. Should I trust the advice?
Replies: 39
Views: 4680

Re: Firecalc is telling me to be [aggressive]: 85/15. Should I trust the advice?

Thanks for the feedback everyone. I'm new to using Monte Carlo tool like the Vanguard one. Is there a percentage that's generally considered acceptable? For example 90%? 95%? 100% sounds extremely conservative. ... realized I could never have a portfolio higher than 60/40. YMMV. I might be similar....
by azanon
Tue May 14, 2019 9:05 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 10846
Views: 1892946

Re: U.S. stocks in free fall

I have balanced funds. I do nothing. Let Vanguard rebalance for me. Vanguard charges extra for that. And when you consider the behavioral finance benefits of a balanced fund, vs. the few bp premium that they charge for it, it ends up being the steal of the century. I like the Balanced Index fund fo...
by azanon
Tue May 14, 2019 8:51 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 10846
Views: 1892946

Re: U.S. stocks in free fall

J G Bankerton wrote:
Tue May 14, 2019 8:28 am
bearcub wrote:
Tue May 14, 2019 6:16 am
I have balanced funds. I do nothing. Let Vanguard rebalance for me.
Vanguard charges extra for that.
And when you consider the behavioral finance benefits of a balanced fund, vs. the few bp premium that they charge for it, it ends up being the steal of the century.
by azanon
Tue May 14, 2019 8:27 am
Forum: Investing - Theory, News & General
Topic: Nobody knows nothing and AA
Replies: 19
Views: 2207

Re: Nobody knows nothing and AA

Since no one can predict future returns are there any good strategies for AA where you adapt it to what the market is doing at any given time? Surely there is a way to market time to get better results than sticking to a set AA, right? Anybody actually able to out perform the standard rebalancing m...
by azanon
Tue May 14, 2019 7:39 am
Forum: Investing - Theory, News & General
Topic: Firecalc is telling me to be [aggressive]: 85/15. Should I trust the advice?
Replies: 39
Views: 4680

Re: Firecalc is telling me to be [aggressive]: 85/15. Should I trust the advice?

I'm using firecalc.com to backtest these scenarios (that resemble my situation). Seems like most of the times 85/15 stocks/bonds comes out best. This seems to be far from the common advice of bonds in age (close to 50/50 in my case). What do you think of these data? Is it wise for me to go 85/15 My...
by azanon
Mon May 13, 2019 10:11 am
Forum: Investing - Theory, News & General
Topic: Swedroe & Kitces recommend government bonds, Vanguard aggregated bonds. What's better?
Replies: 19
Views: 1714

Re: Swedroe & Kitces recommend government bonds, Vanguard aggregated bonds. What's better?

Vanguard has gotten so big and so global, they can't afford to do anything but encourage investors to invest in every major, and even minor asset class (5%+ of global market portfolio representation). I don't know the exact percentage, but I would suspect global corporate bonds are at least 20% of t...
by azanon
Mon May 13, 2019 9:35 am
Forum: Investing - Theory, News & General
Topic: Will a financial pro be WILLING to run your SWR plan after cognitive decline?
Replies: 67
Views: 4316

Re: Will a financial pro be WILLING to run your SWR plan after cognitive decline?

So is there really any option but to buy an SPIA when there's nobody left to run your SWR system? Note that by the time you realize (or are told) that you can't handle it yourself anymore, you are no longer competent to legally decide which professional SWR system is best for you -- which amounts t...
by azanon
Thu May 09, 2019 3:08 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Wellington and Wellsley over the last 20 years
Replies: 60
Views: 6717

Re: Vanguard Wellington and Wellsley over the last 20 years

I'm a fan of both funds, but interest rates are much lower now than they were 20 years ago as well. Falling interest rates gave bonds and, consequently both funds a nice boost. And a stock market with negative cumulative performance from 2000-2009 was a big factor as well. That being said, I've not...
by azanon
Tue May 07, 2019 10:01 am
Forum: Investing - Theory, News & General
Topic: Question about a fund of fund fee - ticker RLY
Replies: 4
Views: 357

Re: Question about a fund of fund fee - ticker RLY

Via searching for the word "acquired", found that the SAI says: With respect to each Fund, the management fee is reduced by any acquired fund fees and expenses attributable to the Funds’ investments in other investment companies. To me that would mean they are offsetting the acquired fund fees. May...
by azanon
Mon May 06, 2019 5:06 pm
Forum: Investing - Theory, News & General
Topic: Question about a fund of fund fee - ticker RLY
Replies: 4
Views: 357

Question about a fund of fund fee - ticker RLY

I'm trying to figure out the total fees for this ETF: SPDR SSGA multi-asset Real Return ETF (RLY). It lists "total annual fund operating expense" at 0.50%, but the 0.50 is listed under "management fees" instead of "acquired fund fees and expenses". It's an ETF of ETFs that have their own underlying ...
by azanon
Fri May 03, 2019 7:03 am
Forum: Investing - Theory, News & General
Topic: Why an 0.57 "low correlation" represents only an 11% volatility reduction
Replies: 56
Views: 3264

Re: Why an 0.57 "low correlation" represents only an 11% volatility reduction

This is why rebalancing seems to be pandering to the emotional aspect of investor's risk tolerance in my mind. Over the long-term, we typically expect stocks to outperform bonds. Why would we objectively want to regularly rein in the outperforming asset? Yes, this increases portfolio volatility, bu...
by azanon
Fri May 03, 2019 6:57 am
Forum: Investing - Theory, News & General
Topic: “If Some Part Of Your Portfolio Isn’t Performing Poorly, You Are Not Properly Diversified”
Replies: 34
Views: 2436

Re: “If Some Part Of Your Portfolio Isn’t Performing Poorly, You Are Not Properly Diversified”

It's already been said, but a stock stock/bond only proponent (basically, the generic boglehead viewpoint) would have to disagree with this statement, since it is quite common for both asset classes to be positive at the same time. Again, as already said, only endowment type portfolios that add sev...
by azanon
Thu May 02, 2019 3:16 pm
Forum: Investing - Theory, News & General
Topic: “If Some Part Of Your Portfolio Isn’t Performing Poorly, You Are Not Properly Diversified”
Replies: 34
Views: 2436

Re: “If Some Part Of Your Portfolio Isn’t Performing Poorly, You Are Not Properly Diversified”

It's already been said, but a stock stock/bond only proponent (basically, the generic boglehead viewpoint) would have to disagree with this statement, since it is quite common for both asset classes to be positive at the same time. Again, as already said, only endowment type portfolios that add sev...