Search found 86 matches

by wickywack
Sat Nov 21, 2020 7:08 pm
Forum: Personal Investments
Topic: Any way to exclude FAANG company from S&P index fund?
Replies: 20
Views: 2748

Re: Any way to exclude FAANG company from S&P index fund?

Another option is something like Wealthfront's direct indexing. They emulate the S&P 500 via individual stocks but allow you exclude specified tickers. Note, if you go this route, you'd own hundreds of individual stocks. WF would manage it, but I imagine it'd be messy if you wanted to move away ...
by wickywack
Thu Nov 12, 2020 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Initial RSU grant fully vested after 4 years, total comp going forward is less or should I expect an equivalent refresh
Replies: 14
Views: 1157

Re: Initial RSU grant fully vested after 4 years, total comp going forward is less or should I expect an equivalent refr

I hit the 4 year mark at my company (Bay Area, non-FAANG) and my initial RSU grant is coming to an end. This means that in Year 5 and going forward, my total annual comp is going to be lower than the past individual 4 years. I've only just realized this a couple months after having the upcoming yea...
by wickywack
Mon Nov 02, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Am I crazy to get Tesla Model Y?
Replies: 50
Views: 3658

Re: Am I crazy to get Tesla Model Y?

You mean you'd have only 1 vehicle and it'd be electric? Don't really understand how it works - what if you want to hit the road and visit few national parks on a long weekend (1-2 kilo miles)? It's good to have an electric for short commutes but hybrid/gas should be the second backup car then I ag...
by wickywack
Wed Oct 28, 2020 7:49 am
Forum: Investing - Theory, News & General
Topic: Impressive Results from Financial Planner -- Time to Surrender?
Replies: 35
Views: 3672

Re: Impressive Results from Financial Planner -- Time to Surrender?

When I was grading my previous financial advisor, I used external rate of return (xirr in Google sheets). Over a 10 year period, I had my dated deposits and my final (at the time) balance. That is sufficient to compute an external rate of return, and far simpler than looking at the actual funds. I h...
by wickywack
Wed Oct 21, 2020 10:42 am
Forum: Investing - Theory, News & General
Topic: Most Trusted Risk Premia Factors?
Replies: 30
Views: 1412

Re: Most Trusted Risk Premia Factors?

This aspect of "trust" as the OP puts it is something I've never quite grokked with risk premia factors. I've read literature (e.g., Swedroe's Black Swans book) demonstrating that a 1/N factor portfolio (where market is just one factor) would have had better risk-adjusted return than marke...
by wickywack
Tue Oct 06, 2020 7:46 pm
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 121
Views: 10362

Re: AQR still singing the same song

...Is overweighting market less diversified?... How is it possible to "overweight the market?" Perhaps in a factor sense? I think trying to get the market factor the same size as the other factors would be a really bad idea since the market provides most of the return in a factor model. Y...
by wickywack
Tue Oct 06, 2020 8:54 am
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 121
Views: 10362

Re: AQR still singing the same song

. If I was to invest in AQR funds it would be along the lines of the following (for the equity portion): 25% = AQR Large Cap Multi-Style [QCELX] 25% = AQR Small Cap Multi-Style [QSMLX] 37% = AQR International Multi-Style [QICLX] 13% = AQR Emerging Multi-Style [QEELX] Approximate factor loads: 1.00 ...
by wickywack
Thu Sep 17, 2020 5:28 pm
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 121
Views: 10362

Re: AQR still singing the same song

One thing that fascinates me about QSPIX ( I think AQR's most discussed fund ) is not is recent underperformance, but its forward claims and what ( I think) that actually should mean for portfolio construction if the claims are accepted. When it came out, the expectation was : * equity like returns...
by wickywack
Wed Sep 16, 2020 4:58 pm
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 121
Views: 10362

Re: AQR still singing the same song

One thing that fascinates me about QSPIX ( I think AQR's most discussed fund ) is not is recent underperformance, but its forward claims and what ( I think) that actually should mean for portfolio construction if the claims are accepted. When it came out, the expectation was : * equity like returns ...
by wickywack
Sat Aug 22, 2020 11:56 am
Forum: Personal Investments
Topic: Fisher vs Cetera [choosing a firm to work with]
Replies: 43
Views: 2845

Re: Fisher vs Cetera [choosing a firm to work with]

I had a Cetera advisor for several years before moving to self management at Vanguard. Some in my family are still with him. The guy was an independent advisor who used Cetera as a platform, so the branding was a bit light - i.e., we were with him more than Cetera. Positives: - Way better than our p...
by wickywack
Wed Aug 19, 2020 9:58 am
Forum: Investing - Theory, News & General
Topic: How does one respond to this ethical/emotional critique of indexing?
Replies: 57
Views: 4307

Re: How does one respond to this ethical/emotional critique of indexing?

If you thought free riding is bad, just wait until you read this: “Passive investing is worse for society than Marxism” This line of argument always amuses me. Passive investing is the essence of capitalism working as intended: clever entrepreneurs (e.g., Bogle) identify inefficiencies in the marke...
by wickywack
Wed Aug 12, 2020 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Large pay cut for better quality of life
Replies: 82
Views: 7627

Re: Large pay cut for better quality of life

If you had the $120K job today in a location you liked, would you consider giving it up for the $340K high stress job in a location you liked less?
by wickywack
Tue Aug 11, 2020 8:02 am
Forum: Investing - Theory, News & General
Topic: Think no one can beat the index?
Replies: 158
Views: 15466

Re: Think no one can beat the index?

I'll check back in the future and post another results update. I suppose I should expect most everyone to again claim it is just "luck" that I continue to outperform the market. People are coming at you because your "track record" is actually a 10 month period of time. Until you...
by wickywack
Sat Aug 08, 2020 7:25 pm
Forum: Personal Investments
Topic: Is switching 529 plans worth it?
Replies: 7
Views: 953

Re: Is switching 529 plans worth it?

Last night I terminated the relationship with my advisor (thanks to the teaching on this site and White Coat Investor!). I need advice on the following: 1. I initiated the transfer of accounts from TDAmeritrate Institutional to Vanguard. The Vanguard rep told me there may be a fee to sell the DFA f...
by wickywack
Fri Jul 17, 2020 6:03 pm
Forum: Personal Investments
Topic: Which 529 plan did you choose and why? [Help select a 529 plan]
Replies: 28
Views: 905

Re: Which 529 plan did you choose and why? [Help select a 529 plan]

Vanguard (Nevada), primarily because it's well integrated with everything else I had there. I also liked the age-based options. My kid is in college, and it's almost all bonds (automatically). Was nice not to worry about it during the market crash earlier this year. FWIW, Vanguard 529s count toward ...
by wickywack
Wed Jul 15, 2020 9:37 pm
Forum: Personal Investments
Topic: My Robo Advisor Experiences
Replies: 18
Views: 3100

Re: My Robo Advisor Experiences

Do Vanguard or Fidelity robos do tax loss harvesting? Are they otherwise more tax efficient than target date funds are far as rebalancing?
by wickywack
Tue Jul 14, 2020 7:23 am
Forum: Investing - Theory, News & General
Topic: Reality check: why would anyone buy a Stone Ridge Longevity fund?
Replies: 30
Views: 2743

Re: Reality check: why would anyone buy a Stone Ridge Longevity fund?

This makes it impossible for an outsider to backtest claims that e.g. a portfolio of 25% each QSPIX, AVRPX, LENDX, and SRRIX is expected to have similar return as equities with half the volatility. FWIW, that claim is on QSPIX alone : The expectation is that the fund will produce equity-like return...
by wickywack
Fri Jul 10, 2020 8:51 am
Forum: Personal Investments
Topic: Should I leave Wealthfront????
Replies: 15
Views: 1947

Re: Should I leave Wealthfront????

If this is a tax-advantaged account (e.g., an IRA now), then, as others have pointed out, there is no really benefit to WealthFront over a cheaper Vanguard Target or LifeStrategy fund or similar. (Perhaps a minor one if you really like WealthFront's allocations over Vanguard, but I think WealthFront...
by wickywack
Wed Jul 08, 2020 4:38 pm
Forum: Investing - Theory, News & General
Topic: Why [was] QSPIX steadily declining?
Replies: 172
Views: 19320

Re: Why [was] QSPIX steadily declining?

Larry also stated both in this forum and his website that adding alts allows the investor to extend bond maturities (go for longer duration), which by itself without any of the other aforementioned changes would more than make up for the awful performance of QSPIX: Interesting - I thought Swedroe w...
by wickywack
Mon Jul 06, 2020 3:19 pm
Forum: Investing - Theory, News & General
Topic: Why [was] QSPIX steadily declining?
Replies: 172
Views: 19320

Re: Why [was] QSPIX steadily declining?

To a casual observer it appears that most are simply guessing what this fund is actually doing, even its supporters seems to only speculate on the AQR implementation, and what is in the attribution report explaining its latest performance. So, do those that buy into this strategy essentially ignore...
by wickywack
Mon Jul 06, 2020 1:11 pm
Forum: Investing - Theory, News & General
Topic: Why [was] QSPIX steadily declining?
Replies: 172
Views: 19320

Re: Why [was] QSPIX steadily declining?

...As for recent performance, you'd have to ask someone who gets the attribution analysis updates but it surely has something to do with value underperformance as others have suggested. AQR chooses to list this fund among its "alternatives" fund, not among its "equities fund." (...
by wickywack
Mon Jul 06, 2020 8:33 am
Forum: Investing - Theory, News & General
Topic: Why [was] QSPIX steadily declining?
Replies: 172
Views: 19320

Re: Why [was] QSPIX steadily declining?

AQR does a quarterly attribution analysis, but it is not publicly available. It's only available to RIAs. So any friendly financial advisors want to share? Interesting - is this sort of opacity common? I don't mean to beat a dead horse. I'm curious what signals folks use to keep investing. I don't ...
by wickywack
Sun Jul 05, 2020 4:09 pm
Forum: Investing - Theory, News & General
Topic: Why [was] QSPIX steadily declining?
Replies: 172
Views: 19320

Re: Why [was] QSPIX steadily declining?

...As for recent performance, you'd have to ask someone who gets the attribution analysis updates but it surely has something to do with value underperformance as others have suggested. AQR chooses to list this fund among its "alternatives" fund, not among its "equities fund." (...
by wickywack
Sun Jul 05, 2020 9:18 am
Forum: Investing - Theory, News & General
Topic: Why [was] QSPIX steadily declining?
Replies: 172
Views: 19320

Re: Why [was] QSPIX steadily declining?

. Decide on long-term portfolio factor exposure targets Choose funds to achieve these at lowest (total) cost Stay the course Arguably the following two portfolios are similar: Portfolio 1 – with exposure to value/momentum/quality through long-short 60% iShares MSCI All Cap World Index (ACWI) 10% Va...
by wickywack
Sat May 23, 2020 10:32 pm
Forum: Personal Consumer Issues
Topic: Tesla Y test drive
Replies: 37
Views: 3703

Re: Tesla Y test drive

We test drove the Y yesterday, love the acceleration but was a little surprise at the interior noise at highway speed. We can’t decided if we should get it or wait until the RAV4- Prime is available for a test drive and see which we should get. Any Tesla owners have issue with interior noise? I hav...
by wickywack
Mon May 18, 2020 10:25 am
Forum: Personal Investments
Topic: Jettison QSPIX?
Replies: 68
Views: 5183

Re: Jettison QSPIX?

I guess I'm less interested in exactly why it's not performed lately, and more interested in how much it actually needs to return to be worthwhile as part of a bigger portfolio (e.g., the 3-funder in my earlier post), assuming current correlation and volatility continue. I.e., how would you modify a...
by wickywack
Sun May 17, 2020 1:51 pm
Forum: Personal Investments
Topic: Jettison QSPIX?
Replies: 68
Views: 5183

Re: Jettison QSPIX?

QSPIX has been slightly negative since its inception as of now. On the plus side, it *has* delivered on at least couple aspects its proponents have touted: (1) Its correlation with both stocks and bonds is near zero. (2) Its volatility - as measured by standard deviation - is about half that of stoc...
by wickywack
Wed May 13, 2020 9:55 am
Forum: Investing - Theory, News & General
Topic: Why is total market weighted index best?
Replies: 61
Views: 4619

Re: Why is total market weighted index best?

But I'm looking for positive arguments. Why is a total market weighted index the best choice? Why is it better than an equal weighted index (which is a different animal, more small mid cap and probably more value tilt) This isn't a theoretical answer - just a personal mental exercise I've done. I m...
by wickywack
Mon Mar 30, 2020 9:15 pm
Forum: Investing - Theory, News & General
Topic: Great example of someone who should have never invested in factors
Replies: 119
Views: 8385

Re: Great example of someone who should have never invested in factors

Because the TSM exposure to the small value stocks is exactly by definition offset by exposure to large growth stocks. There is no net exposure to the size or value factors. Need to look at diversification across unique sources of risk. Dave Larry Swedroe is usually careful in his wording: risk fac...
by wickywack
Mon Mar 30, 2020 7:38 pm
Forum: Investing - Theory, News & General
Topic: Great example of someone who should have never invested in factors
Replies: 119
Views: 8385

Re: Great example of someone who should have never invested in factors

Totally agree Dave How is a portfolio that already includes small value stocks at market weights less diverse than one that has them at double or triple market rates? Because the TSM exposure to the small value stocks is exactly by definition offset by exposure to large growth stocks. There is no n...
by wickywack
Mon Mar 30, 2020 7:13 pm
Forum: Investing - Theory, News & General
Topic: Great example of someone who should have never invested in factors
Replies: 119
Views: 8385

Re: Great example of someone who should have never invested in factors

My theory on the small / value premium has always been very simple. If it's extra return because of extra risk, I can achieve the same result with a slightly higher equity allocation. Not exactly: it's a different risk, not just extra risk. You could get the same volatility as SCV by simply leverag...
by wickywack
Mon Mar 23, 2020 9:56 am
Forum: Personal Investments
Topic: Tapering down tilts
Replies: 13
Views: 896

Re: Tapering down tilts

Have you tried not replicating accross accounts? I.e. looking at your portfolio as a whole? Not sure I understand the question. I'm not replicating across accounts. I'm maintaining percentages across my portfolio. E.g., I'm only investing in REITs in my 401k because (a) I have access to Vanguard's ...
by wickywack
Sun Mar 22, 2020 8:36 pm
Forum: Personal Investments
Topic: Tapering down tilts
Replies: 13
Views: 896

Re: Tapering down tilts

Absolutely! I did it and it feels great. I went all the way to a single fund LifeStrategy Moderate (60/40) in tax advantaged accounts. Right now, because of the big drop in small cap and REIT, I would be inclined to make the move in small steps, maybe something like 5% per year. [edit] I came to BH...
by wickywack
Sun Mar 22, 2020 3:01 pm
Forum: Personal Investments
Topic: Tapering down tilts
Replies: 13
Views: 896

Tapering down tilts

Several years ago, I set an asset allocation, basically a 3-fund portfolio with separate tilts on the equity side to us small-value, us reits, and emerging markets.  I've been sticking to it closely, but I am considering eliminating these tilts.  I'm not (I think!) bothered by recent under-performan...
by wickywack
Thu Jan 23, 2020 8:23 am
Forum: Personal Investments
Topic: Retirement: Thoughts on Asset Allocation [trigger warning--alternatives mentioned]
Replies: 33
Views: 2485

Re: Retirement: Thoughts on Asset Allocation [trigger warning--alternatives mentioned]

A quick thought - it feels redundant to have both a value tilt in your equities and QRPIX (which includes the value factor). You might consider dropping one and increasing the other to simplify. More generally, you might also start with a three-fund portfolio as a reference point on what kind of ri...
by wickywack
Wed Jan 22, 2020 7:22 pm
Forum: Personal Investments
Topic: Retirement: Thoughts on Asset Allocation [trigger warning--alternatives mentioned]
Replies: 33
Views: 2485

Re: Retirement: Thoughts on Asset Allocation [trigger warning--alternatives mentioned]

A quick thought - it feels redundant to have both a value tilt in your equities and QRPIX (which includes the value factor). You might consider dropping one and increasing the other to simplify. More generally, you might also start with a three-fund portfolio as a reference point on what kind of ris...
by wickywack
Sat Jul 27, 2019 12:02 pm
Forum: Investing - Theory, News & General
Topic: Donor-advised fund versus direct stock donation
Replies: 41
Views: 2186

Re: Donor-advised fund versus direct stock donation

And if you still have money in the donor-advised fund when you turn 70-1/2, you need to use that money for your charitable donations, rather than getting the more favorable tax treatment of qualified charitable distributions. (You can always take advantage of your good market returns to do both.) I...
by wickywack
Tue Jul 16, 2019 7:25 pm
Forum: Investing - Theory, News & General
Topic: Why factor investing isn't working
Replies: 484
Views: 29376

Re: Why factor investing isn't working

The risk based explanations are why I have the MOST faith in the size and value premiums while I don't ignore the others that meet all the criteria of persistence, pervasiveness, robustness, intuitiveness and implementability. At very least want to avoid being on the right hand side of factors like...
by wickywack
Mon Jan 21, 2019 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Best Credit Card for International Travel
Replies: 51
Views: 4066

Re: Best Credit Card for International Travel

I use both the First Tech and the Cap One Quicksilver. The combo's been pretty convenient. The First Tech is indeed pin priority - it'll ask for a pin most places, even in the US. Not sure I've ever been asked to sign on that card. Just don't forget your pin! The latest Quicksilver cards support co...
by wickywack
Sun Jan 20, 2019 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Best Credit Card for International Travel
Replies: 51
Views: 4066

Re: Best Credit Card for International Travel

I use the Capital One Quicksilver card and haven't had a problem, but our last international trip was almost a year ago, so Climber2020's warning is concerning. I'm intrigued by the First Tech Federal Credit Union card , which is supposedly a true chip and pin card. It would be nice not to have to ...
by wickywack
Thu Jul 12, 2018 9:52 pm
Forum: Investing - Theory, News & General
Topic: COMING SOON: BOGLEHEADS PODCASTS
Replies: 367
Views: 24434

Re: COMING SOON: BOGLEHEADS PODCASTS

The Bogleheads Index
by wickywack
Sat Jul 07, 2018 1:20 am
Forum: Personal Investments
Topic: Anyone hear of or invest in Rich Uncles?
Replies: 18
Views: 5710

Re: Anyone hear of or invest in Rich Uncles?

A thread on these guys from a few years ago:

viewtopic.php?t=175960
by wickywack
Fri Jul 06, 2018 3:35 pm
Forum: Investing - Theory, News & General
Topic: SS taken at 62 vs. 70, but measured from 70+
Replies: 189
Views: 12957

Re: SS taken at 62 vs. 70, but measured from 70+

Ok, so I often hear that delaying social security until 70 vs. taking it early at 62 is often the beneficial thing to do because of the pseudo ~ 8% return that you get on delayed Social Security. In my case, for me to do that, I would have to spend down my portfolio to "buy" the "age...
by wickywack
Mon Apr 16, 2018 7:50 am
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 89
Views: 11811

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

This is sobering data. Do you find it sobering to realize you're insurance costs without a claim? Sorry - not following you here. I suspect all these trendy categories all had much better returns up to the point that they became trendy. I suspect betting on beta and buy-and-holding without regard t...
by wickywack
Sun Apr 15, 2018 2:17 pm
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 89
Views: 11811

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

In some alt categories there are large differences in asset exposures and risks. We can identify based on stated fund strategies, holdings, and past performance the types of properties to expect, at least to some degree. This can tell us a little bit about forward return in the same sense as the pr...
by wickywack
Thu Apr 12, 2018 10:52 am
Forum: Investing - Theory, News & General
Topic: Unimpressive category averages of managed futures, multialternative, market neutral, etc.
Replies: 89
Views: 11811

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

This is sobering data. I suspect all these trendy categories all had much better returns up to the point that they became trendy.
by wickywack
Sat Feb 10, 2018 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to move to a lower paying career?
Replies: 53
Views: 6682

Re: Can I afford to move to a lower paying career?

Do you expect your annual living expenses to change dramatically in Minnesota? The conventional wisdom is that you need 25x annual expenses saved to retire. You're in excellent shape given your current savings. Shifting to a lower paying job seems very reasonable if that is going to improve your qua...
by wickywack
Sat Jan 20, 2018 11:52 am
Forum: Personal Consumer Issues
Topic: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data
Replies: 40
Views: 7070

Re: Costco Citi removing Foreign Transaction Fees; No Fee/Reimbursed Fee International ATM; ; Free International Data

For useful foreign travel cards, I use: Capital One Quicksilver. This is a Chip-and-Signature, no forex card with 1.5% cash back. It's my go-to card. First Tech Platinum Rewards. This is Chip-and-Pin, Pin-Preferred, no forex card. For kiosks or when you don't want to deal with signature (a lot of ve...
by wickywack
Mon Oct 16, 2017 7:39 pm
Forum: Personal Investments
Topic: My EJ portfolio vs my Vanguard, side by side
Replies: 27
Views: 4182

Re: My EJ portfolio vs my Vanguard, side by side

When I was "grading" my financial advisor, I had a record of all my deposits over the years as well my current balance. I used that to compute an XIRR in a spreadsheet. You might try that to sanity check your actual returns against your PortfolioVisualizer numbers.
by wickywack
Sun Jun 25, 2017 5:11 pm
Forum: Personal Investments
Topic: Portfolio critique, bond options for taxable at Schwab, in CA?
Replies: 13
Views: 3870

Re: Portfolio critique, bond options for taxable at Schwab, in CA?

This is Schwab's list of recommended bond ETFs. Note that a number are commission free: http://www.schwab.com/public/schwab/investing/investment_help/investment_research/etf_research/etfs.html?&path=/Prospect/Research/etfs/overview/selectList.asp?symbol=undefined The treasury ETFs look excellent...