Search found 940 matches

by hdas
Tue Jul 16, 2019 1:29 pm
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Portfolio Optimization

This is a really good read . Some excerpts: Specifically, we evaluate the performance of naive versus optimized portfolios on the following data sets, which are all available at daily scale: 10 U.S. market-cap weighted industry portfolios from the Ken French data library 25 U.S. market-cap weighted ...
by hdas
Tue Jul 16, 2019 10:07 am
Forum: Investing - Theory, News & General
Topic: Major changes in VWOB (Vanguard Emerging Markets Govt Bond ETF) portfolio (almost no China)?
Replies: 8
Views: 948

Re: Major changes in VWOB (Vanguard Emerging Markets Govt Bond ETF) portfolio (almost no China)?

Does anyone have an idea why the dramatic change? I don't own VWOB--I prefer Vanguard's active fund--but I find it odd that an index fund could change so dramatically without apparent notice. I hypothesize that this change will considerably narrow the performance gap between VEGBX and VWOB. We shal...
by hdas
Tue Jul 16, 2019 8:57 am
Forum: Investing - Theory, News & General
Topic: Why factor investing isn't working
Replies: 462
Views: 18655

Re: Why factor investing isn't working

fyi, there is clearly no risk story for MOM, low vol, profitability and quality. I don't agree with Larry that there is "clearly" no risk story for these factors. My view is that the risks associated with some of the other factors are somewhat more obvious and maybe better documented, but IMHO ther...
by hdas
Mon Jul 15, 2019 9:56 am
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

3. The descriptive chart shows that the ratio is way past 3 standard deviations stretched in favor of large growth. At this point you at least have to question in the nice stable relationship is over. hdas, perhaps you've posted this before, but are you willing to share your portfolio? Your viewpoi...
by hdas
Mon Jul 15, 2019 9:49 am
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

Question: When they make a change to their holdings is this info available immediately? I really don't know. Do we know the date the buy/sell and the purchase price? Next business day, no price info tho. 3. Put in orders to buy the stocks that made it to the final list at 5%-10%(or varying percenta...
by hdas
Sun Jul 14, 2019 9:02 am
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

On a total return basis, from Jan 2004 to Jan 2019 has SCV beating LCG. And since the March 2009 low, SCV was ahead as recently as 1st March this year. Use tradables and not categories, I chose VUG and IJS because they are best in class and low ER. Feb 04 is VUG inception. VUG - Vanguard Growth ETF...
by hdas
Sun Jul 14, 2019 8:54 am
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

Isn't it not quite right to compare the ratio of prices between large growth and small value? Small value has higher dividends than large growth generally so the same total return equals less etf share price appreciation. The prices I use are adjusted for dividend. And my data is accurate. Sorry if...
by hdas
Sat Jul 13, 2019 7:21 pm
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

The idea of basing an investment strategy on a stock's volatility is absurd. http://www.upl.co/uploads/lowvol1563063392.png I suggest the shareholder letters of Warren Buffett. 20 years late...but thanks. Investing is not a mathematical or a statistical problem, and attempting to use math to improv...
by hdas
Sat Jul 13, 2019 11:20 am
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

A new low on a weekly basis on the Small Cap Value (IJS) / Large Growth (VUG) ratio. The prediction is not looking good. A few notes: 1. For this type of stuff I like to use the most recent data. 15 years seems sensible. The world is a dynamic place and asset pricing reflects that. 2. I also prefer ...
by hdas
Sat Jul 13, 2019 11:11 am
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

This is week 17 of the experiment, some observations: 1. To the extent that the portfolio is doing better that SPY which was the goal (im only investing in large caps), we are doing ok. However, the portfolio is trailing the performance of a naive 50/50 MTUM, USMV benchmark by ~1.5%. http://www.upl....
by hdas
Sat Jul 13, 2019 10:46 am
Forum: Investing - Theory, News & General
Topic: Refinements to Hedgefundie's excellent approach
Replies: 94
Views: 6345

Re: Refinements to Hedgefundie's excellent approach

I'm not exactly sure what you are referring to as the whole exercise in this case. Could you be a little more specific? Is it Hedgefundie's initial premise? The idea of validating the premise? Testing the limits of the approach? Finding timing rules that work well "in sample" That's the nature of m...
by hdas
Fri Jul 12, 2019 6:03 pm
Forum: Personal Investments
Topic: 100% VMNVX [Vanguard Global Minimum Volatility Fund]
Replies: 13
Views: 1442

Re: 100% VMNVX [Vanguard Global Minimum Volatility Fund]

Hi, First time poster. Thank you for your generosity in responding. 1. Is it reasonable to have 100% of my portfolio in VMNVX with retirement about 25 years away. 2. Please suggest alternate approaches. I prefer global diversification with some factor exposure . Thanks. Go for it. You won’t need to...
by hdas
Fri Jul 12, 2019 12:59 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Enhancing the Performance of Momentum Strategies
Replies: 4
Views: 620

Re: Larry Swedroe: Enhancing the Performance of Momentum Strategies

Larry Swedroe recently posted an article on improving momentum strategies by screening out stocks with "extreme" recent returns. Do any current momentum funds actually perform this screen? More broadly, would it be fair to say that while the major factors themselves are fairly well-established in t...
by hdas
Fri Jul 12, 2019 9:10 am
Forum: Investing - Theory, News & General
Topic: Refinements to Hedgefundie's excellent approach
Replies: 94
Views: 6345

Re: Refinements to Hedgefundie's excellent approach

I've been backtesting aspects of Hedgefundie's approach with leveraged ETFs, and I thought it would be appropriate to start a new thread to keep the information more readily available. I'm expecting a few more posts as I go along, and the more the merrier! While you seem capable and motivated, this...
by hdas
Fri Jul 12, 2019 9:04 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2522
Views: 192135

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

I really like M1. I currently have 20% of my total portfolio with them - and a quarter of that (5%) devoted to this delightful strategy (experiment?)! I started the transfer of a 3-fund portfolio at Vanguard to M1 on Jun 10th. It's now July 12th and my money is gone from Vanguard and yet not availa...
by hdas
Thu Jul 11, 2019 11:21 pm
Forum: Investing - Theory, News & General
Topic: Refinements to Hedgefundie's excellent approach
Replies: 94
Views: 6345

Re: Refinements to Hedgefundie's excellent approach

I've been backtesting aspects of Hedgefundie's approach with leveraged ETFs, and I thought it would be appropriate to start a new thread to keep the information more readily available. I'm expecting a few more posts as I go along, and the more the merrier! While you seem capable and motivated, this...
by hdas
Thu Jul 11, 2019 11:13 pm
Forum: Personal Investments
Topic: For those of you who have a factor diversified portfolio, what is yours?
Replies: 55
Views: 3992

Re: For those of you who have a factor diversified portfolio, what is yours?

If you have a portfolio that's diversified over several factors: what is yours and why did you choose that one? I'm in the process of building a portfolio that diversifies risk over market, size, value, momentum and maybe quality too and I would like to see how other people have build theirs. For t...
by hdas
Wed Jul 10, 2019 9:56 am
Forum: Investing - Theory, News & General
Topic: De-Risking and Diversification aren't the same thing.
Replies: 45
Views: 2204

Re: De-Risking and Diversification aren't the same thing.

One of the tenets of modern portfolio theory is that investors demand compensation for shouldering undiversifiable (i.e. systematic) risks. The more systematic risk the investor bears, the higher the expected return must be. Nice post, however, the tenet you mention is not true or at least heavily ...
by hdas
Tue Jul 09, 2019 6:09 pm
Forum: Investing - Theory, News & General
Topic: De-Risking and Diversification aren't the same thing.
Replies: 45
Views: 2204

Re: De-Risking and Diversification aren't the same thing.

One of the tenets of modern portfolio theory is that investors demand compensation for shouldering undiversifiable (i.e. systematic) risks. The more systematic risk the investor bears, the higher the expected return must be. Nice post, however, the tenet you mention is not true or at least heavily ...
by hdas
Mon Jul 08, 2019 2:28 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle was right: smart beta ETFs are closet trackers (including Vanguard’s)
Replies: 21
Views: 2352

Re: Jack Bogle was right: smart beta ETFs are closet trackers (including Vanguard’s)

As a result, even if Small Cap Value Index hadn't had a much higher return (both absolute and volatility-adjusted) than Total Stock Market Index over this period of time it would still be true that the diversification benefits would have been significant. Can you expound on that statement? Small Ca...
by hdas
Sat Jul 06, 2019 9:01 am
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

If you're going to go down this path, you might want to consider implementing a volatility targeting approach with a portion of your portfolio. Yes, I’d like to use leverage at some point but I don’t have access to cheap rates. I’m using Merrill, I have private banking privileges but still rates ar...
by hdas
Sat Jul 06, 2019 8:43 am
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

Not sure where the OP is going here but: Investing in individual stocks is what was the norm prior to mutual/index funds. Investors made money the "old fashioned way" and did it with the principle of buy and hold that our beloved Jack Bogle espoused...Hence the foundation of Vanguard. All stock fun...
by hdas
Sat Jul 06, 2019 8:41 am
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

What are your holdings? And how did you choose them? > I hold individual stocks. > I prefer to keep the holding private. Besides, there’s a lot of turnover, 1-2 stocks per week. > I rank the largest 1000 US stocks based on low volatility and momentum. Then select the top 25 after adjusting for sect...
by hdas
Fri Jul 05, 2019 10:44 pm
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

If you're going to go down this path, you might want to consider implementing a volatility targeting approach with a portion of your portfolio. Yes, I’d like to use leverage at some point but I don’t have access to cheap rates. I’m using Merrill, I have private banking privileges but still rates ar...
by hdas
Fri Jul 05, 2019 10:14 pm
Forum: Personal Investments
Topic: "Steelmanning" the case for owning individual stocks
Replies: 95
Views: 8264

Re: "Steelmanning" the case for owning individual stocks

Some interesting ideas here : Back to the absolute index. For example, let’s say I want to build a multi-factor fund based on 4 factors: Value, Momentum, Volatility, and Quality. The typical way would be to rank each stock on those four measures, then average those four ranks together, and then sele...
by hdas
Thu Jul 04, 2019 8:29 pm
Forum: Investing - Theory, News & General
Topic: Hedge Fund carry
Replies: 8
Views: 858

Re: Hedge Fund carry

That seems crazy to me. This is the carried interest, not the management fee. So if a fund turns $100 into $200 during year 1 and never makes another dime, they keep taking 20% of that gain year after year until it's nearly gone. Only $32 of the $100 gain is left after 5 years if I'm doing the math...
by hdas
Thu Jul 04, 2019 11:38 am
Forum: Investing - Theory, News & General
Topic: Misbehaviour of markets and the Black Swan
Replies: 86
Views: 7298

Re: Misbehaviour of markets and the Black Swan

If you are a day trader, or even better a high frequency trader with access to a super computer, then Mandelbrot is essential. I work in the industry. I think you have it backwards. The more independent instances you have, the more you can approach it with stats. Mandelbrot/Taleb stuff is useless, ...
by hdas
Wed Jul 03, 2019 7:07 pm
Forum: Investing - Theory, News & General
Topic: VFMF (Vanguard Multifactor) == Closet Value Index Fund
Replies: 50
Views: 3929

Re: VFMF (Vanguard Multifactor) == Closet Value Index Fund

You are missing BAB and term + credit factors. :greedy None of those funds are fixed income as far as I'm aware, so term+credit factors don't apply, and just like its value/quality loads, there is minimal Low Beta load (0.09). The only loading it has seems to be size. EDIT: I don't think BAB factor...
by hdas
Wed Jul 03, 2019 4:44 pm
Forum: Investing - Theory, News & General
Topic: VFMF (Vanguard Multifactor) == Closet Value Index Fund
Replies: 50
Views: 3929

Re: VFMF (Vanguard Multifactor) == Closet Value Index Fund

See this :greedy I did a regression on that portfolio over the same period VFMF has been around (unfortunately could only do 12 month roll period, not daily, so results not exact): https://www.portfoliovisualizer.com/factor-analysis?s=y®ressionType=2&startDate=03%2F1%2F2018&sharedTimePeriod=fals...
by hdas
Wed Jul 03, 2019 4:09 pm
Forum: Investing - Theory, News & General
Topic: VFMF (Vanguard Multifactor) == Closet Value Index Fund
Replies: 50
Views: 3929

Re: VFMF (Vanguard Multifactor) == Closet Value Index Fund

It's worth mentioning that you can structure a portfolio diversified across all factors that looks very different to VFMF and that has outperformed TSM over the last years. My criticism applies specifically to VFMF. :greedy Assuming approximately equal factor weights and the absence of factor timin...
by hdas
Wed Jul 03, 2019 1:19 pm
Forum: Personal Investments
Topic: Question for the 5%...Anyone buying any individual stocks?
Replies: 51
Views: 4272

Re: Question for the 5%...Anyone buying any individual stocks?

Yes, I understand where I am posting this question, but I figured at least 5% of people surfing this forum could have some input on this. Any strong individual stock purchases? Long term holds? Possibly next Amazon? What do you think will be booming in the next 5, 10, 15 years? Forget about lottery...
by hdas
Wed Jul 03, 2019 1:17 pm
Forum: Investing - Theory, News & General
Topic: VFMF (Vanguard Multifactor) == Closet Value Index Fund
Replies: 50
Views: 3929

Re: VFMF (Vanguard Multifactor) == Closet Value Index Fund

This is an important observation and flies in the face of multi-factor theory. Interesting that no one mentioned that. Interesting to note also than during this 15 month of so time span while V, MOM, SIZE and QUAL were all negative BETA was hugely positive. Since the inception of VFMF about 15 mont...
by hdas
Wed Jul 03, 2019 8:02 am
Forum: Personal Investments
Topic: Vanguard Global Credit Bond Fund (VGCIX)?
Replies: 6
Views: 435

Re: Vanguard Global Credit Bond Fund (VGCIX)?

HEDGEFUNDIE wrote:
Tue Jul 02, 2019 8:53 pm
Interesting fund, looks like the Vanguard equivalent of PIMIX
Indeed interesting. A nice alternative now that PIMIX can’t even do better than AGG. Cheers :greedy
by hdas
Tue Jul 02, 2019 3:19 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2522
Views: 192135

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

The market is usually at all-time highs. This is just not true. I think you can celebrate your profits and still stick to the facts. Market spends 75% of time in a state of drawdown. Cheers :greedy Then why am I accused of relying on stock bull markets for this strategy? I think you should focus on...
by hdas
Tue Jul 02, 2019 3:01 pm
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2522
Views: 192135

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

HEDGEFUNDIE wrote:
Tue Jul 02, 2019 2:40 pm

The market is usually at all-time highs.
This is just not true. I think you can celebrate your profits and still stick to the facts. Market spends 75% of time in a state of drawdown.

Cheers :greedy
by hdas
Sun Jun 30, 2019 8:24 pm
Forum: Investing - Theory, News & General
Topic: Misbehaviour of markets and the Black Swan
Replies: 86
Views: 7298

Re: Misbehaviour of markets and the Black Swan

Anyone one else read these books and perhaps wants to talk about how they have changed their thinking with their finances? What action items could come out if you believe in they're material? The genius of Taleb was translating options pit wisdom to the masses for entertainment and pseudo philosoph...
by hdas
Sat Jun 29, 2019 2:32 pm
Forum: Investing - Theory, News & General
Topic: The Best of Strategies for the Worst of Times: Can Portfolios be Crisis Proofed?
Replies: 21
Views: 2488

Re: The Best of Strategies for the Worst of Times: Can Portfolios be Crisis Proofed?

From the paper linked in the OP: A strategy that holds long positions in 10- year US Treasuries performed well in the post-2000 equity drawdowns, but was less effective during previous equity sell-offs. This is consistent with the negative bond-equity correlation witnessed post-2000, which is atypi...
by hdas
Fri Jun 28, 2019 7:15 pm
Forum: Investing - Theory, News & General
Topic: The Best of Strategies for the Worst of Times: Can Portfolios be Crisis Proofed?
Replies: 21
Views: 2488

Re: The Best of Strategies for the Worst of Times: Can Portfolios be Crisis Proofed?

MotoTrojan wrote:
Fri Jun 28, 2019 7:04 pm
How do you know we are approaching climax? Today may be a record low moving forward.
Likely 200-300 handles away still. However, It’s apt to have a sound plan and execute into the final disgorgement. :greedy
by hdas
Fri Jun 28, 2019 6:31 pm
Forum: Investing - Theory, News & General
Topic: The Best of Strategies for the Worst of Times: Can Portfolios be Crisis Proofed?
Replies: 21
Views: 2488

The Best of Strategies for the Worst of Times: Can Portfolios be Crisis Proofed?

As we approach climax in equity markets (let's call it SP500 == 3050-3200), it's worth pondering about what works when the going gets tough. Excellent article by Harvey et al . http://www.upl.co/uploads/correlation1561850013.jpg The Best of Strategies for the Worst of Times: Can Portfolios be Crisis...
by hdas
Fri Jun 28, 2019 2:23 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

I can data mine as well. YTD through yesterday of IJS, VUG, VTI, and MTUM: 12.01% IJS 21.73% VUG 17.85% VTI 18.78% MTUM Put that in your pipe and smoke it. Except that your info is worthless. The issue you seem to be missing is the attractive bet that the Small Value / Large Growth relationship has...
by hdas
Fri Jun 28, 2019 1:04 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

First six months or the year are almost over and looking at the tickers:

VUG +0.22%
IJS +1.49%
XSLV + 1.26%

Ratio IJS/VUG = 0.9127

Rejoice :greedy
by hdas
Fri Jun 28, 2019 11:25 am
Forum: Investing - Theory, News & General
Topic: Ex DFA CIO launches competitor which will also have ETFs
Replies: 26
Views: 2475

Re: Ex DFA CIO launches competitor which will also have ETFs

Svenksa, that is exactly why IMO they are launching it! Let us see, this will compete head to head with: >> Vanguard VSS - (Not Value, but it's the default choice for many tilters) >> Wisdom Tree DLS+DGS >> Ishares ISCF (Multifactor, not quite the same but will compete for assets) Cheers :greedy Lo...
by hdas
Thu Jun 27, 2019 5:12 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

I glance at the tape and see: VUG +0.48% IJS +1.94% XSLV + 1.71% Ratio IJS/VUG = 0.9012 Rejoice :greedy I'm starting to believe all the SCV bashing here lately may be a good thing. The Warren Buffett contrarian in me is cautiously optimistic. But then I really don't care because the Boglehead in me...
by hdas
Thu Jun 27, 2019 3:44 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

I glance at the tape and see:

VUG +0.48%
IJS +1.94%
XSLV + 1.71%

Ratio IJS/VUG = 0.9012

Rejoice :greedy
by hdas
Thu Jun 27, 2019 12:35 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Ticker Symbols.

Bogleheads: I have been around here a long time and I have not memorized the ticker symbols of more than a few funds and ETFs. It is helpful if we know the name of the fund together with its ticker symbol as our wiki requests. Thank you and best wishes. Taylor Taylor, IJS = iShares S&P Small-Cap 60...
by hdas
Wed Jun 26, 2019 8:06 am
Forum: Investing - Theory, News & General
Topic: Vanguard Announces Plans to Launch Commodities Fund
Replies: 187
Views: 18228

Re: Vanguard Announces Plans to Launch Commodities Fund

Here’s the gist: The fund's benchmark is the Bloomberg Commodity Total Return Index, a diverse and widely used commodity futures index. However, the fund will differ from its benchmark in two ways. First, the fund will seek to increase inflation protection by holding a portion of its collateral in s...
by hdas
Tue Jun 25, 2019 1:29 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Announces Plans to Launch Commodities Fund
Replies: 187
Views: 18228

Re: Vanguard Announces Plans to Launch Commodities Fund

SquawkIdent wrote:
Tue Jun 25, 2019 1:26 pm
hdas wrote:
Sun Jun 23, 2019 8:26 am
When is this fund launching?
+1
Saw this in another thread that should be merging to this one soon.

No info about benchmark and portfolio yet. :greedy
by hdas
Tue Jun 25, 2019 1:22 pm
Forum: Investing - Theory, News & General
Topic: Small Cap Value heads Rejoice !!!
Replies: 113
Views: 12972

Re: Small Cap Value heads Rejoice !!!

I glance at the red tape and see:

VUG -1.04%
IJS +0.18%
XSLV + 0.23%

Ratio 0.8844

Rejoice :greedy
by hdas
Tue Jun 25, 2019 1:19 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Announces Plans to Launch Commodities Fund
Replies: 187
Views: 18228

Re: ew vangurd Commodity Fund

SpringMan wrote:
Tue Jun 25, 2019 10:03 am
Vanguard sent us an email regarding this fund today. In my opinion it is not for us. 50K could be better deployed in something easier to understand.
Can you copy paste the msg?............50k seems very reasonable. 5% of 1 mili portfolio. :greedy
by hdas
Tue Jun 25, 2019 10:29 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]
Replies: 2522
Views: 192135

Re: HEDGEFUNDIE's excellent adventure [risk parity strategy using 3x leveraged ETFs]

Vig? More info on this atrocious scheme? Hdas, Could you elaborate on the issue as you see it with how M1 employs rebalancing? By way of disclosure, I’m using Fidelity, but am interested in learning more about M1 and whether it’d be smarter to use them instead of paying the commissions that I’m inc...