Search found 1700 matches

by matjen
Sun Feb 11, 2018 5:05 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

In terms of comparisons, you need to reference the dates the comments were made. If you look at performance since 9/30/2015, the story is not a clear as the chart presented implies. Since Sept 2015, QPSIX returned 4.4% per year versus 17.2% for the S&P 500 & 2.2% for SEQUX. Now SEQUX was half way t...
by matjen
Sat Feb 10, 2018 12:24 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

That Goldman fund is really tripping me up. Effective after the close of business on October 30, 2017, the Goldman Sachs Dynamic Allocation Fund (the Fund) was renamed the Goldman Sachs Alternative Premia Fund and changed its investment objective, benchmark and principal investment strategy. Post-c...
by matjen
Sat Feb 10, 2018 10:53 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

There is something to this. Vanguard's fund, after all, is implemented at a .22% ER (the rest of the 1.6% is actual shorting costs). Its alternative strategies fund is also going to be coming out and it's at something like .42. What's one of the more ironical/comical things is that there is a major...
by matjen
Sat Feb 10, 2018 9:36 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

I invite those new to this thread to read some of the past posts and predictions. Amazing how a fund that has done everything it promised to do and acted as expected is still getting railed on (as is Larry Swedroe for some reason). And no, that doesn't mean QSPIX is for everyone or should be. Never ...
by matjen
Thu Feb 08, 2018 7:35 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

That WSJ article is incredibly weak sauce IMO. I mean credentials and experience aren't the only thing in the world but they are basing the article around a person who manages 200 mil (though she did work at Bridgewater for a spell). More importantly the facts/logic doesn't seem to be there. Markets...
by matjen
Wed Feb 07, 2018 7:59 am
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

Why not just buy an equity index fund for the good times and a bond fund like BND for the not so good times In an allocation that allows investor to sleep well at night. But if everyone did would probably put the hedge funds out of business. With the major caveat that I 100% agree with you for 98% ...
by matjen
Tue Feb 06, 2018 10:31 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

I honestly can't. Grok was/is the big Vanguard Market Neutral proponent in the context of QSPIX. It is my understanding that he is spooked by the leverage. I believe Larry S. and Lack_ey countered that much of that leverage is on low volatility things like Tbills or whatever rather than equities. I ...
by matjen
Tue Feb 06, 2018 9:58 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

It looks like QSPIX acted like bonds, which is okay. If I was a QSPIX investor, I would expect higher than the 2-3% return that you will get out of bonds over the next decade. If you do all the fancy stuff and still have the return of bonds, you may as well just be in bonds. If I owned this fund, I...
by matjen
Tue Feb 06, 2018 9:40 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

So it looks like QSPIX acted pretty much like bonds during this period of market turbulence. Probably some people were fantasizing that this fund would shoot straight up. My guess is that it is doing about what it is designed to do. The question is, is this a better diversifier than plain old bonds...
by matjen
Mon Feb 05, 2018 9:37 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1246
Views: 185825

Re: QSPIX - thoughts on interesting fund

How has this fund been performing during the recent downdraft? You would expect this environment would be where these kind of funds would really shine. At least today on February 5, 2018, the fund fell 0.56% when the general stock market was down about 4%. Bonds were up today. Here are the last 10 ...
by matjen
Mon Feb 05, 2018 8:05 am
Forum: Investing - Theory, News & General
Topic: Economist - “Factor investing” gains popularity
Replies: 22
Views: 2454

Re: Economist - “Factor investing” gains popularity

. Just as there are today, there were similar debates of the merits of tilting when I started my portfolio 15 years ago, and would not be surprised to see similar debates in 15 years time. We each need to weigh these merits and make our own decisions. I had the same portfolio tilts for the past 15 ...
by matjen
Sun Feb 04, 2018 10:08 am
Forum: Investing - Theory, News & General
Topic: Economist - “Factor investing” gains popularity
Replies: 22
Views: 2454

Economist - “Factor investing” gains popularity

I think this was a pretty fair and quick overview of Factor Investing. Maxing the factors “Factor investing” gains popularity https://www.economist.com/news/finance-and-economics/21736145-age-old-search-magic-market-beating-formula-still-looks Still, the best-known factors have been too successful f...
by matjen
Fri Feb 02, 2018 9:40 am
Forum: Personal Consumer Issues
Topic: White-Rodgers Thermostats
Replies: 14
Views: 3530

Re: White-Rodgers Thermostats

Literally this same thing happened to me this morning. Just had an EVSE (electric car charger) installed in my garage a week ago and purchased a car two days ago. Has been very cold last two days and I notice the garage is way colder than normal. Take a look at the radiant heat thermostat and it is ...
by matjen
Sun Jan 07, 2018 6:45 pm
Forum: Investing - Theory, News & General
Topic: Morningstar Premium for $99
Replies: 33
Views: 2979

Re: Morningstar Premium for $99

Thanks for the link OP. I agree that it is worth the $99 a year to me but not the $199. I am a big fan of the X-Ray feature across entire portfolios.
by matjen
Fri Dec 15, 2017 9:25 am
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 97
Views: 5983

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

Nisi I agree. I was confused by that sentence as well. Perhaps they are referring to anyone who isn't pure market cap.
by matjen
Fri Dec 15, 2017 8:43 am
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 97
Views: 5983

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

But what I want to know is when one should switch horses among the factors? For instance, US small-cap value trailed in 2017, but did great in 2016. And foreign small caps trailed in 2016, but did great in 2017. Which factor is going to be the best performing factor over the next 12 months? I want ...
by matjen
Fri Dec 15, 2017 8:36 am
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 97
Views: 5983

Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

For all the Factor Fans on the Board and all you haters with your time period selected arguments. ;-) Momentum and Small Cap Value seem to be pretty good strategies (but hey, cap weight is perfectly fine as well). Almost all investors are knowingly or unknowingly exposed to factors such as size, val...
by matjen
Mon Dec 11, 2017 9:42 am
Forum: Investing - Theory, News & General
Topic: No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment
Replies: 8
Views: 1683

No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment

I think many will enjoy this slide deck. Covers a bunch of topics commonly discussed here with regard to the current investing environment and how to position for the next 10-130 years. Reduce fees. Increase savings. Asset location. Dynamic withdrawal rather than fixed. Risk profile. Increase divers...
by matjen
Thu Dec 07, 2017 11:07 am
Forum: Investing - Theory, News & General
Topic: AQR/Asness - You Can Have Your Momentum Factor and Eat it Too
Replies: 21
Views: 1842

Re: AQR/Asness - You Can Have Your Momentum Factor and Eat it Too

By the way, what explains the statistically significant -2.23% Annualized Alpha (α) of AMOMX (AQR Large Cap Momentum)? Why does MTUM (iShares large cap momentum) have a statistically significant positive Alpha? They have about the same MOM loadings and very different returns. My take is that theore...
by matjen
Wed Dec 06, 2017 6:42 pm
Forum: Investing - Theory, News & General
Topic: AQR/Asness - You Can Have Your Momentum Factor and Eat it Too
Replies: 21
Views: 1842

Re: AQR/Asness - You Can Have Your Momentum Factor and Eat it Too

Random Walker wrote:
Wed Dec 06, 2017 6:23 pm
Thanks Matjen for posting the article. I assume this article is discussing CS Momentum as opposed to TS Momentum?

Dave
I assume so Dave but I haven't read it thoroughly yet. Just skimmed it but they are discussing MOM so I take that to mean CS Momentum.
by matjen
Wed Dec 06, 2017 5:28 pm
Forum: Investing - Theory, News & General
Topic: AQR/Asness - You Can Have Your Momentum Factor and Eat it Too
Replies: 21
Views: 1842

AQR/Asness - You Can Have Your Momentum Factor and Eat it Too

The latest from AQR’s Cliff Asness. As Cliff says himself: The Momentum Factor: Its Not Just For Breakfast Anymore Oh, and it survives t-costs, and studies that say it doesn’t are just poorly done nonsense. https://www.aqr.com/cliffs-perspective/you-can-have-your-momentum-factor-and-eat-it-too?utm_t...
by matjen
Wed Dec 06, 2017 9:43 am
Forum: Investing - Help with Personal Investments
Topic: Want to sell my Bitcoin, but when?
Replies: 90
Views: 8908

Re: Want to sell my Bitcoin, but when?

Sell a chunk soon. The coming Bitcoin Futures at CME will allow people/pros to much more easily go short. That will start happening.
by matjen
Sat Dec 02, 2017 9:31 am
Forum: Investing - Theory, News & General
Topic: Fama - Embrace passive management already
Replies: 16
Views: 2595

Fama - Embrace passive management already

Semantics aside as to what passive actually is, a great article with many concise snippets of wisdom from Eugene Fama. On factor investing Forget timing factors. That’s ridiculous. A company that I’m involved with [Dimensional Fund Advisors] does it passively. They just buy the whole value segment o...
by matjen
Tue Nov 28, 2017 10:53 am
Forum: Investing - Theory, News & General
Topic: Vanguard to launch US 'smart beta' ETFs - Will this board burn down?
Replies: 156
Views: 17468

Vanguard To Introduce First Actively Managed ETFs With Suite Of Factor Funds

[merged matjen's thread and its replies into this existing one - moderator prudent] Yay for factors! Yay for choice! The new suite of active factor offerings includes: Vanguard U.S. Minimum Volatility ETF – seeks to provide long-term capital appreciation with lower volatility relative to the broad ...
by matjen
Fri Nov 24, 2017 9:58 am
Forum: Investing - Theory, News & General
Topic: WSJ - Is Your Stockpicker Lucky or Good?
Replies: 8
Views: 848

Re: WSJ - Is Your Stockpicker Lucky or Good?

livesoft wrote:
Fri Nov 24, 2017 9:53 am
That suggests that one wants to make a lot of transactions in order to determine if they are lucky or not.
I think it is more of a "need" thing than a "want" thing.
by matjen
Fri Nov 24, 2017 9:26 am
Forum: Investing - Theory, News & General
Topic: WSJ - Is Your Stockpicker Lucky or Good?
Replies: 8
Views: 848

WSJ - Is Your Stockpicker Lucky or Good?

Behind a paywall but people can usually find ways around that. A great article that shows the difficulty in selecting and sticking with a "star" manager. Once again it is Victor Haghani of LTCM fame that is providing the insight. Victor Haghani, a co-founder of one of the best-known investment firms...
by matjen
Sat Nov 18, 2017 9:07 am
Forum: Investing - Theory, News & General
Topic: Morningstar - AQR: The Vanguard of Alternative Investing?
Replies: 58
Views: 5631

Morningstar - AQR: The Vanguard of Alternative Investing?

John Rekenthaler has a nice article on AQR's success up at Morningstar. http://beta.morningstar.com/articles/837417/aqr-the-vanguard-of-alternative-investing.html AQR won the old-fashioned way: Its funds beat everybody else's. AQR Long-Short Equity (QLEIX) finished first in its category. AQR Equity ...
by matjen
Thu Nov 16, 2017 5:38 pm
Forum: Personal Consumer Issues
Topic: BMW to Chevy Bolt?
Replies: 30
Views: 2569

Re: BMW to Chevy Bolt?

I’m a big fan of EV, and willing to support hybrids also. I’ve got to say that the only rationale for how quirky and ugly the i3 looks is that BMW must have wanted nobody to think of it as a BMW. Finish shminish, the ugly had to be intentional :D Could be worse. Could cost 130k and be fugly like th...
by matjen
Thu Nov 16, 2017 4:52 pm
Forum: Personal Consumer Issues
Topic: BMW to Chevy Bolt?
Replies: 30
Views: 2569

Re: BMW to Chevy Bolt?

We worry that EVs have insufficient range. But we also worry that we may drive them too many miles in a year :? :? OP has not mentioned the BMW i3, but that might be a better choice from a seat/ interior finish viewpoint? (however, less range?). I agree with this sentiment. 2015 i3 RExs coming off ...
by matjen
Wed Nov 15, 2017 11:42 am
Forum: Personal Consumer Issues
Topic: Office Chair Recommendations (Aeron?)
Replies: 38
Views: 2733

Re: Office Chair Recommendations (Aeron?)

I sit in a Knoll Life chair currently (as in right now as I type!) and like it quite a bit. However I actually prefer the Knoll Chadwick. It is a very comfortable and a bit smaller than some of the other big gun chairs. I prefer the smaller footprint.

https://www.knoll.com/product/chadwick
by matjen
Thu Nov 09, 2017 1:49 pm
Forum: Investing - Theory, News & General
Topic: DFA access
Replies: 30
Views: 3364

Re: DFA access

GreatOdinsRaven wrote:
Thu Nov 09, 2017 1:42 pm

May I ask if you’re using IJS in a taxable account? We would be...
Yes. Still (happily) have a bunch of VTI, VXUS and IJS in taxable accounts as well as some VSS.
by matjen
Thu Nov 09, 2017 1:02 pm
Forum: Investing - Theory, News & General
Topic: DFA access
Replies: 30
Views: 3364

Re: DFA access

I, too, have come to the conclusion that you can basically get almost the same factor exposure with IJS that you can with DFSVX (and you don’t have to pay for access...). The size factor loadings are almost identical and the value factor is similar although not as heavily weighted. The thing that a...
by matjen
Thu Nov 09, 2017 10:13 am
Forum: Investing - Theory, News & General
Topic: DFA access
Replies: 30
Views: 3364

Re: DFA access

I like to keep my investments simple so I use target date funds. American Funds are available at Fidelity, so I use AF 2030. Looking "under the hood", I see that AF 2030 and DFA 2030 have similar stock/bond allocations. Yet AF seems to do better than DFA, with a similar amount of risk. My thinking ...
by matjen
Thu Nov 09, 2017 8:25 am
Forum: Investing - Theory, News & General
Topic: DFA access
Replies: 30
Views: 3364

Re: DFA access

I am also a low touch client at FPL. Low quarterly fee that applies to my whole household (so me and DW accounts at Fidelity, Schwab or TD Ameritrade). https://www.fplcapital.com/model-folios/ Nothing but good things to say about my experience. Have DFA, AQR, and Stone Ridge access. Agree that DFA l...
by matjen
Sat Nov 04, 2017 12:56 pm
Forum: Personal Consumer Issues
Topic: Got an iPhoneX
Replies: 157
Views: 12412

Re: Got an iPhoneX

Cash wrote:
Sat Nov 04, 2017 12:52 pm
I feel like I'm missing an important pop culture reference with that pic...
The infamous "grassy knoll" where some people think JFK's "real" assassin shot from.
https://en.wikipedia.org/wiki/Dealey_Plaza#Grassy_knoll
by matjen
Sat Nov 04, 2017 12:33 pm
Forum: Personal Consumer Issues
Topic: Got an iPhoneX
Replies: 157
Views: 12412

Re: Got an iPhoneX

Leesbro63 wrote:
Sat Nov 04, 2017 12:18 pm
I see it! The REAL (big) iPhone X! Behind the picket fence above the grassy knoll!
LOL. :beer
by matjen
Sat Nov 04, 2017 12:14 pm
Forum: Personal Consumer Issues
Topic: Got an iPhoneX
Replies: 157
Views: 12412

Re: Got an iPhoneX

Finally we were able to get the iPhone X photo uploaded... :twisted:



Image
by matjen
Sat Nov 04, 2017 10:33 am
Forum: Personal Consumer Issues
Topic: Got an iPhoneX
Replies: 157
Views: 12412

Re: Got an iPhoneX

Leesbro63 wrote:
Sat Nov 04, 2017 10:14 am
Yes but MY photo shows the X CLEARLY smaller/narrower/less real estate. THIS photo that you posted is misleading.
Good grief! My photo above was taken by the WSJ. Is the WSJ somehow incented to mislead on this crucial issue? ;-)
by matjen
Sat Nov 04, 2017 7:43 am
Forum: Personal Consumer Issues
Topic: Got an iPhoneX
Replies: 157
Views: 12412

Re: Got an iPhoneX

I think the general point on the X screen size is that it is a higher quality screen and the phone is much smaller than the older "Plus" phones. There is more screen given the physical size of the phone. Much less bezel and longer in general. To my eyes the screen is very close in size to a Plus pho...
by matjen
Sun Oct 29, 2017 12:58 pm
Forum: Investing - Theory, News & General
Topic: Thaler's Misbehaving: The Making of Behavioral Economics - FREE*
Replies: 10
Views: 799

Re: Thaler's Misbehaving: The Making of Behavioral Economics - FREE*

I slightly edited the original post to make it clear that it is free to borrow if a Prime member.
by matjen
Sun Oct 29, 2017 9:51 am
Forum: Investing - Theory, News & General
Topic: Thaler's Misbehaving: The Making of Behavioral Economics - FREE*
Replies: 10
Views: 799

Thaler's Misbehaving: The Making of Behavioral Economics - FREE*

The Kindle edition of Nobel Laureate Richard Thaler's “Misbehaving: The Making of Behavioral Economics” is currently free at Amazon. I thought forum members would be interested. *It is free to borrow if a Prime Member. https://www.amazon.com/Misbehaving-Behavioral-Economics-Richard-Thaler-ebook/dp/B...
by matjen
Fri Oct 27, 2017 5:25 pm
Forum: Investing - Theory, News & General
Topic: Has Anyone Read The Fama Portfolio: Selected Papers of Eugene F. Fama?
Replies: 3
Views: 638

Re: Has Anyone Read The Fama Portfolio: Selected Papers of Eugene F. Fama?

Cliff Asness did a little write up on it in his most recent perspective. $100 is a tad rich but I'll likely get it eventually. https://www.aqr.com/cliffs-perspective/add-more-fama-to-your-portfolio But this is more than a simple collection. It’s a curated collection with the curation done by Profess...
by matjen
Fri Oct 27, 2017 8:48 am
Forum: Investing - Theory, News & General
Topic: Stocks go up, bonds fall. Stock fall, bonds also fall.
Replies: 51
Views: 5783

Re: Stocks go up, bonds fall. Stock fall, bonds also fall.

Stocks are up today and bonds (VBTLX) fall. Stocks were falling yesterday and bonds also fall. Has everyone holding bond funds simply made peace with the fact that bonds are practically useless until there is a 25%+ drop in the market? I can't convince myself to keep holding bonds. AQR's QSPIX Styl...
by matjen
Wed Oct 25, 2017 11:06 am
Forum: Investing - Help with Personal Investments
Topic: Why [was] QSPIX steadily declining?
Replies: 66
Views: 9166

Re: Why is QSPIX steadily declining?

rkhusky wrote:
Wed Oct 25, 2017 10:52 am
YTD returns for QSPIX, Total US, Total Int'l, or VMNFX are not very useful for making any kind of decision.
Fair point. Agreed in general terms.
by matjen
Wed Oct 25, 2017 8:15 am
Forum: Investing - Help with Personal Investments
Topic: Why [was] QSPIX steadily declining?
Replies: 66
Views: 9166

Re: Why is QSPIX steadily declining?

Not very helpful. QSPIX YTD returns are 9.07%. Does it matter if the ER is 1.5 or 2%? Fees matter most when you are comparing two like minded funds with similar strategies. Cue inner Larry Swedroe, "many people know the cost of something but do not know the value". YTD returns don''t have much valu...
by matjen
Tue Oct 24, 2017 5:15 pm
Forum: Investing - Help with Personal Investments
Topic: Why [was] QSPIX steadily declining?
Replies: 66
Views: 9166

Re: Why is QSPIX steadily declining?

QSPIX closed at 10.82 today. :happy

Has been on quite the run so this will no doubt jinx it.
by matjen
Fri Sep 29, 2017 7:39 pm
Forum: Investing - Theory, News & General
Topic: The Four Pillars of Investing – today’s Kindle daily deal
Replies: 10
Views: 1629

Re: The Four Pillars of Investing – today’s Kindle daily deal

This is my favorite investing book of all time. Highly recommended.
by matjen
Thu Sep 21, 2017 4:59 pm
Forum: Personal Consumer Issues
Topic: Tesla S
Replies: 1002
Views: 176861

Re: Tesla S

Here is a fun little video that just came out that many will find of interest. :twisted:

https://www.youtube.com/watch?v=cvk18vx-nrY