Search found 1848 matches

by garlandwhizzer
Fri Mar 23, 2018 7:33 pm
Forum: Investing - Theory, News & General
Topic: "Smart Beta's Foundation Problem"
Replies: 31
Views: 3161

Re: "Smart Beta's Foundation Problem"

Thanks for this thoughtful posting, stlutz. I much enjoyed reading your insightful post and the articles listed, especially Mr. Wiggins article: https://www.institutionalinvestor.com/a ... egist-sick In it Wiggins takes a hard look and skeptical look at factors. As for the size factor, it turns out ...
by garlandwhizzer
Wed Feb 14, 2018 5:01 pm
Forum: Investing - Theory, News & General
Topic: philosophicaleconomics predicts 4% real equity returns
Replies: 152
Views: 11330

Re: philosophicaleconomics predicts 4% real equity returns

It's not just philosophicaleconomics that makes such predictions. Bogle, Vanguard, Swedroe, Bernstein, Arnott, Grantham and others who are experienced students of the market and sound number crunchers are making similar or even worse projections of future returns of US stocks and bonds. Those who di...
by garlandwhizzer
Wed Feb 14, 2018 1:50 pm
Forum: Investing - Theory, News & General
Topic: The Misguided Beliefs of Financial Advisors
Replies: 15
Views: 3173

Re: The Misguided Beliefs of Financial Advisors

The following are the sources of the 3% advisor alpha in the Vanguard paper. Cost-effective implementation (expense ratios) 40 bps Rebalancing 35 bps Behavioral coaching 150 bps Asset location 0 to 75 bps Spending strategy (withdrawal order) 0 to 110 bps Total-return versus income investing > 0 bps ...
by garlandwhizzer
Wed Feb 14, 2018 1:25 pm
Forum: Investing - Theory, News & General
Topic: philosophicaleconomics predicts 4% real equity returns
Replies: 152
Views: 11330

Re: philosophicaleconomics predicts 4% real equity returns

Very interesting article, thanks for posting, getrichslowly. Although predicting anything about the market's future is prone to error, I tend to accept the basic premise that, in spite of, and perhaps partially because of, our past exuberant performance, future US equity returns over the next decade...
by garlandwhizzer
Tue Feb 13, 2018 2:03 pm
Forum: Investing - Theory, News & General
Topic: I think US interest rates could drop.
Replies: 62
Views: 7246

Re: I think US interest rates could drop.

I don't know whether over the long term rates are going to go up, down, or remain stable. I do expect them to go up somewhat in the short term, as they already have largely due to the FED. For decades until recently the pressure on rates has been to the downside. What is different now is that QE is ...
by garlandwhizzer
Tue Feb 13, 2018 1:43 pm
Forum: Investing - Theory, News & General
Topic: Correlations among different types of bonds
Replies: 14
Views: 1386

Re: Correlations among different types of bonds

jalbert wrote; It is interesting that short-term corporate bonds have a significantly higher correlation with stocks than intermediate corporates. Shortening corporate bond duration in a stock and bond portfolio may in fact increase portfolio risk. The effect is presumably caused by having less ter...
by garlandwhizzer
Mon Feb 12, 2018 9:39 pm
Forum: Investing - Theory, News & General
Topic: I think US interest rates could drop.
Replies: 62
Views: 7246

Re: I think US interest rates could drop.

triceratop wrote: Excellent post as always Garland, but I have one minor quibble: to my knowledge the Fed has only announced that they will no longer reinvest proceeds from maturing treasuries and not that they plan to sell them outright, as a gradual plan to reduce the balance sheet You are right,...
by garlandwhizzer
Mon Feb 12, 2018 1:34 pm
Forum: Investing - Theory, News & General
Topic: annuity vs. decumulation: apples to apples comparisons?
Replies: 26
Views: 2218

Re: annuity vs. decumulation: apples to apples comparisons?

Don't mistake nominal monthly income payments from SPIAs for real inflation adjusted income over a long time span. You do not know up front what the cumulative rate of inflation will be over the next 20 or 30 years. Hence unless you get an inflation adjusted annuity you cannot determine the level of...
by garlandwhizzer
Mon Feb 12, 2018 11:39 am
Forum: Investing - Theory, News & General
Topic: I think US interest rates could drop.
Replies: 62
Views: 7246

Re: I think US interest rates could drop.

One reason why interest rates may go up is simply supply and demand. This year alone we will have a trillion dollar deficit on top of a very high debt/GDP ratio. In fact with the tax cuts and increases in military and domestic spending plus the Fed selling Treasuries to reduce their balance sheet we...
by garlandwhizzer
Mon Feb 12, 2018 10:58 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Driver’s Behind The Dip
Replies: 27
Views: 3004

Re: Larry Swedroe: Driver’s Behind The Dip

Excellent article by Larry, thanks for posting it, Dave. A thoughtful analysis of the factors behind recent volatility and timeless advice about portfolio construction to stay the course through the tough times.

Garland Whizzer
by garlandwhizzer
Sat Feb 10, 2018 12:11 pm
Forum: Investing - Theory, News & General
Topic: 70% chance of correction in 2018 according to Vanguard - Highest in 15 years
Replies: 111
Views: 15185

Re: 70% chance of correction in 2018 according to Vanguard - Highest in 15 years

David1082b wrote: Corrections have happened almost every year historically, Corrections defined as a 10% drop in stock prices have historically occurred according to Vanguard in 40% of calendar years. There was no correction for example in 2017 when equity volatility was remarkably low and returns ...
by garlandwhizzer
Sat Feb 10, 2018 11:47 am
Forum: Investing - Theory, News & General
Topic: 30 yr tips auction 2/15: 1.0% yield?
Replies: 174
Views: 17005

Re: 30 yr tips auction 2/15: 1.0% yield?

garlandwhizzer wrote: It's essentially impossible to construct a balanced portfolio of quality bonds and broadly based index funds that doesn't produce dramatically better than 1% expected 30 year returns grok87 replied: Thanks for your thoughtful response. I guess i would quibble with your phrase ...
by garlandwhizzer
Fri Feb 09, 2018 9:44 pm
Forum: Investing - Theory, News & General
Topic: 30 yr tips auction 2/15: 1.0% yield?
Replies: 174
Views: 17005

Re: 30 yr tips auction 2/15: 1.0% yield?

I have no interest in a LMP because I don't think I can accurately define what my cost of living is going to be 30 years from now. A lot of unexpected things can happen to one's circumstances in 30 years. There are simply too many unforeseen variables that can over such a long time span seriously in...
by garlandwhizzer
Fri Feb 09, 2018 9:25 pm
Forum: Investing - Theory, News & General
Topic: 70% chance of correction in 2018 according to Vanguard - Highest in 15 years
Replies: 111
Views: 15185

Re: 70% chance of correction in 2018 according to Vanguard - Highest in 15 years

I remember a some Forum posts that mocked Joe Davis's prediction when it came out but that 70% call looks good in retrospect now. Also both Vanguard and Schwab have been cautioning investors for some time that in 2018 volatility was very likely to increase although the VIX had been hanging at histor...
by garlandwhizzer
Fri Feb 09, 2018 1:29 pm
Forum: Investing - Theory, News & General
Topic: TIPS and Inflation
Replies: 8
Views: 686

Re: TIPS and Inflation

It is duration risk rather than inflation risk that may explain why TBM has outperformed TIPS fund this year. TIPS has an average duration of 7.9 years. TBM has an averaged duration of 6.1 years. In an environment of increasing rates, duration risk damages returns whether or not there is increasing ...
by garlandwhizzer
Thu Feb 08, 2018 11:19 pm
Forum: Investing - Theory, News & General
Topic: Why Weak Dollar, after likely four future interest rate hike?
Replies: 8
Views: 1183

Re: Why Weak Dollar, after likely four future interest rate hike?

It was widely believed by the experts with the Fed raising rates, plus reducing the size of the balance sheet, plus the US experiencing increasingly robust economic growth that the dollar would appreciate. They predicted that it would soon be at parity with the Euro 2 or 3 years ago. In other DM cou...
by garlandwhizzer
Thu Feb 08, 2018 1:52 pm
Forum: Investing - Theory, News & General
Topic: Why should we care about inflation?
Replies: 58
Views: 5604

Re: Why should we care about inflation?

JBTX wrote: The problem is if inflation does rear its head, I tend to think there will be hesitation to fight it too aggressively like Volcker did in the 80's. Growth will probably already be lower due to factors above, and with high levels of government debt around the world, a signfiicant rise in...
by garlandwhizzer
Thu Feb 08, 2018 1:07 pm
Forum: Investing - Theory, News & General
Topic: 30 yr tips auction 2/15: 1.0% yield?
Replies: 174
Views: 17005

Re: 30 yr tips auction 2/15: 1.0% yield?

jebmke wrote: I'll get interested again when the 10-year gets up in the 2% range. 1+ I wouldn't touch a 30 year bond instrument of any type now without an expected real yield of 2%. Rates on 10 yr and 30 yr. bonds are going up now and IMO that trend is likely to continue for some time. If you want ...
by garlandwhizzer
Wed Feb 07, 2018 6:10 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: 4 Horsemen Of Your Portfolio
Replies: 111
Views: 11928

Re: Larry Swedroe: 4 Horsemen Of Your Portfolio

Larry states the problem well. Like siamond, I don't believe that alternate investments are the magic bullet that solves the problem. The appropriate mixture of stocks and bonds fitted to my goals and risk tolerance works for me. Volatility does not bother me. That's the nature of the equity beast. ...
by garlandwhizzer
Wed Feb 07, 2018 2:01 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: 4 Horsemen Of Your Portfolio
Replies: 111
Views: 11928

Re: Larry Swedroe: 4 Horseman Of Your Portfolio

Thanks for posting this excellent article, Dave. I believe Larry states the problem realistically and well. It is not a pretty picture but if we are to plan effectively for our future retirement needs, we need to make realistic assumptions about what that future is likely to be. International divers...
by garlandwhizzer
Tue Feb 06, 2018 8:58 pm
Forum: Investing - Theory, News & General
Topic: Economist - “Factor investing” gains popularity
Replies: 22
Views: 3074

Re: Economist - “Factor investing” gains popularity

triceratop wrote: Garland, I don't understand your point about the role of bonds going forward, and the likelihood of such realized excess returns persisting. Robert T achieved 1.6% excess return even after controlling for increased exposure to risk assets. Moreover, Robert T held less in bonds tha...
by garlandwhizzer
Tue Feb 06, 2018 11:55 am
Forum: Investing - Theory, News & General
Topic: Rebalancing by Yield?
Replies: 4
Views: 476

Re: Rebalancing by Yield?

lack_ey wrote: What matters is the return and the risk. The yield is just a component, and there's not any reason you should balance yields between different asset classes. 1+ You can get in trouble focusing on yield alone rather than total expected return and the risk level necessary to achieve th...
by garlandwhizzer
Tue Feb 06, 2018 11:37 am
Forum: Investing - Theory, News & General
Topic: Why GNMAs Shouldn't Be Your Bond Choice
Replies: 70
Views: 5516

Re: Why GNMAs Shouldn't Be Your Bond Choice

I think that arguing whether ITT or TBM or GNMA is the only one to own is akin to clerics arguing over how many angels could dance on a pinhead during the middle ages. All 3 are viable choices, so much less volatile than stocks and solid anchors in equity market declines. The differences in yield ar...
by garlandwhizzer
Mon Feb 05, 2018 2:16 pm
Forum: Investing - Theory, News & General
Topic: Economist - “Factor investing” gains popularity
Replies: 22
Views: 3074

Re: Economist - “Factor investing” gains popularity

Robert T wrote: My tilted portfolio obviously had higher risk than the ‘market portfolio’, but interestingly here is a comparison with a 100% global stock portfolio (MSCI All Cap World Stock Index), together with a DFA ‘Balanced’ portfolio. 2003-2017: Annualized return (%) / Standard Deviation / Ma...
by garlandwhizzer
Sun Feb 04, 2018 8:24 pm
Forum: Investing - Theory, News & General
Topic: why are people saying there is bond issues. BND only down 2% YTD
Replies: 29
Views: 3220

Re: why are people saying there is bond issues. BND only down 2% YTD

z3r0c00l wrote: ↑Sun Feb 04, 2018 3:08 pm 1.4% vs 2.8%, you get double the yield for a modest increase in risk. Many of us prefer this for a safe investment. Remember inflation, that 1.4% is a guaranteed loss after inflation. I for one only use highly safe things like CDs for an emergency fund. For...
by garlandwhizzer
Sun Feb 04, 2018 2:35 pm
Forum: Investing - Theory, News & General
Topic: Economist - “Factor investing” gains popularity
Replies: 22
Views: 3074

Re: Economist - “Factor investing” gains popularity

There is no doubt that factor investing is gaining in popularity. This may not be such a good thing for factor investing returns going forward. I found it interesting that Cliff Asness, who is knowledgeable, brilliant, and honest, wrote that the market factor is his favorite factor. Other factors me...
by garlandwhizzer
Sat Feb 03, 2018 12:03 pm
Forum: Investing - Theory, News & General
Topic: Developed vs Emerging Markets
Replies: 12
Views: 1387

Re: Developed vs Emerging Markets

I'm 50 EM/50 DM. No problem with doing it cap weight but I believe that EM will offer greater diversification benefit to US equity and also greater expected long term returns than DM. EM have been more volatile historically but I tolerate volatility well. Experts disagree on these issues. Each to hi...
by garlandwhizzer
Fri Feb 02, 2018 2:47 pm
Forum: Investing - Theory, News & General
Topic: Alan Greenspan says there are bubbles in both stocks and bonds
Replies: 87
Views: 8638

Re: Alan Greenspan says there are bubbles in both stocks and bonds

Thanks for the link to Greenspan's interview, Siamond. I think his concern about rising debt levels is a valid concern and agree with Siamond that he made no call for imminent disaster in the near future. Massive levels of new debt stimulates the economy short term but it raises the risk for both st...
by garlandwhizzer
Fri Feb 02, 2018 11:42 am
Forum: Investing - Theory, News & General
Topic: Alan Greenspan says there are bubbles in both stocks and bonds
Replies: 87
Views: 8638

Re: Alan Greenspan says there are bubbles in both stocks and bonds

Just to clarify for those who long for a protracted period of rising interest rates, apparently thinking it will be good for bond returns. That works only if inflation doesn't play a role which historically it usually does. The following demonstrates the difference between a bond bull market and a b...
by garlandwhizzer
Thu Feb 01, 2018 1:59 pm
Forum: Investing - Theory, News & General
Topic: Alan Greenspan says there are bubbles in both stocks and bonds
Replies: 87
Views: 8638

Re: Alan Greenspan says there are bubbles in both stocks and bonds

stultz wrote: People talk about a 35 year bull market in bonds the dates back to the late 80s because interest rates have mostly gone down since then. That's not really true. Bond returns would have been much higher had rates stayed at 8 or 10% the entire time. Lower rates hurt your returns; they d...
by garlandwhizzer
Wed Jan 31, 2018 8:59 pm
Forum: Investing - Theory, News & General
Topic: Small Value Premium - How Do You View It?
Replies: 95
Views: 7755

Re: Small Value Premium - How Do You View It?

Alexa9 wrote: There is the complaint that the offerings in small value funds are neither small or valuey enough to achieve maximum exposure to the premiums. Just wait for my super value microcap fund. There is such a fund, Guggenheim's S&P Small Cap Pure Value ETF, RZV. It is dominated by microcaps...
by garlandwhizzer
Wed Jan 31, 2018 1:08 pm
Forum: Investing - Theory, News & General
Topic: How did you guys do in 1966 - 1980?
Replies: 34
Views: 3593

Re: How did you guys do in 1966 - 1980?

Investing was like struggling to sail into a strong headwind. No asset classes were spared in real terms in stagflation. There was no asset class that offered significant positive real returns as inflation climbed to 15% and economic growth in real terms was stagnant. In the Great Depression you cou...
by garlandwhizzer
Mon Jan 29, 2018 11:19 am
Forum: Investing - Theory, News & General
Topic: Wisdom of Bitcoin
Replies: 90
Views: 7529

Re: Wisdom of Bitcoin

When I first started the video presentation I turned it off quickly realizing the kid speaking knew nothing. Now that I went back and listened to it in total, I see the whole thing is a joke which explains why a conservative investor like Bobcat2 endorsed it. My bad. Anyway we're all in agreement. B...
by garlandwhizzer
Sun Jan 28, 2018 1:50 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Rising Rates Increase Worries
Replies: 86
Views: 13907

Re: Larry Swedroe: Rising Rates Increase Worries

Regressor wrote: If I buy a 30y treasury, I'm guaranteed to get 2.85% for 30 years, while if you buy a 30 day treasury at 1.24% you're guaranteed to get that yield only for 30 days. If interest rates drop to zero and stay there, I'll still be getting my 2.85% for 30 years, but you'll be getting zer...
by garlandwhizzer
Sun Jan 28, 2018 1:21 pm
Forum: Investing - Theory, News & General
Topic: Wisdom of Bitcoin
Replies: 90
Views: 7529

Re: Wisdom of Bitcoin

Bobcat2, I'm wondering if you're serious or joking about Bitcoin. You have always been a champion of very low risk investing with guaranteed income like annuities or TIPS ladders rather than accepting the risk of equity. Bitcoin is at the opposite end of the risk spectrum, IMO pure speculation altho...
by garlandwhizzer
Sat Jan 27, 2018 12:30 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Rising Rates Increase Worries
Replies: 86
Views: 13907

Re: Larry Swedroe: Rising Rates Increase Worries

willthrill81 wrote: I'll repeat it again: interest rate increases are not a long-term threat to bonds. Inflation, especially when its 'unexpected', is the real threat to bonds. The fact that 30 year Treasuries currently offer a yield of 2.85% tells you that the current market expectations for infla...
by garlandwhizzer
Sat Jan 27, 2018 12:11 pm
Forum: Investing - Theory, News & General
Topic: Do Alpha Males Deliver Alpha? Testosterone and Hedge Funds
Replies: 16
Views: 1518

Re: Do Alpha Males Deliver Alpha? Testosterone and Hedge Funds

This is a great example of the quality of academic stock market research which is often IMO garbage. Publish or perish is the rule in academia and volume of output is more visible than its quality when it comes to climbing up the academic ladder. Data mining provides a rich source of investing model...
by garlandwhizzer
Fri Jan 26, 2018 3:16 pm
Forum: Investing - Theory, News & General
Topic: Starting to feel like the late 1990s?
Replies: 145
Views: 13606

Starting to feel like the late 1990s?

Netflix continues to skyrocket as it burns through more and more cash. Netflix reported a quarterly loss last quarter but due to top line subscriber growth its price spiked in after hours trading. Netflix has a PE ratio of 220 and a market cap of 117 billion. Amazon has a stratospheric PE 0f 346. Te...
by garlandwhizzer
Fri Jan 26, 2018 12:24 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Rising Rates Increase Worries
Replies: 86
Views: 13907

Re: Larry Swedroe: Rising Rates Increase Worries

30 year Treasuries yielded 14.8% in 1981 because bond market participants saw more than a decade of ever increasing interest rates and inflation, currently at about 15% in 1981, and they expected that to continue for decades. That, of course, turned out to be totally wrong in spite of all the smart ...
by garlandwhizzer
Fri Jan 26, 2018 11:38 am
Forum: Investing - Theory, News & General
Topic: Dalio says bonds have entered a bear market
Replies: 96
Views: 10296

Re: Dalio says bonds have entered a bear market

It's important to realize that a bond bear market isn't at all like a stock bear market. Even in the worst bond bear markets bond holders don't lose a lot of money quickly. Rather they lose positive inflation adjusted return over time. The bond bear market, unlike a stock bear market, doesn't sudden...
by garlandwhizzer
Wed Jan 24, 2018 11:34 am
Forum: Investing - Theory, News & General
Topic: Kitces article: A cash bucket in retirement? Nope
Replies: 150
Views: 12802

Re: Kitces article: A cash bucket in retirement? Nope

JCE66 wrote in response to my comment that my 2-3 years of living expenses in MM funds saved me a bundle during the 2007-9 crash: garlandwhizzer....Was having the MM fund by happenstance or design back in 07-09? Did you set up that MM fund thinking it was a 'behavioral brake' for yourself? If you di...
by garlandwhizzer
Wed Jan 24, 2018 11:06 am
Forum: Investing - Theory, News & General
Topic: Dalio says bonds have entered a bear market
Replies: 96
Views: 10296

Dalio says bonds have entered a bear market

No one knows the future of markets and all predictions are best taken as a grain of salt. However, Ray Dalio's comments and point of view are interesting.

www.bloomberg.com/news/articles/2018-01 ... bear-phase
by garlandwhizzer
Tue Jan 23, 2018 12:41 pm
Forum: Investing - Theory, News & General
Topic: New in depth interview with Jack Bogle-"Uneasy Lies The Head That Wears A Crown”: A Conversation With Jack Bogle
Replies: 4
Views: 681

Re: New in depth interview with Jack Bogle-"Uneasy Lies The Head That Wears A Crown”: A Conversation With Jack Bogle

Bogle quote regarding growth versus value: You have all these fluctuations and it’s very befuddling to an investor who picks value. Investors should have no confidence at all that value will win in the long run, for the obvious reason. Once everybody “knows” that value does better than growth, the p...
by garlandwhizzer
Tue Jan 23, 2018 12:00 pm
Forum: Investing - Theory, News & General
Topic: Why hold total bond market fund when 7 year CDs yield more?
Replies: 21
Views: 2884

Re: Why hold total bond market fund when 7 year CDs yield more?

Why hold total bond market fund when 7 year CDs yield more?
Instant liquidity for unanticipated expenses or rebalancing which is not available with a 7 yr. CD without penalty.

Garland Whizzer
by garlandwhizzer
Tue Jan 23, 2018 11:55 am
Forum: Investing - Theory, News & General
Topic: Kitces article: A cash bucket in retirement? Nope
Replies: 150
Views: 12802

Re: Kitces article: A cash bucket in retirement? Nope

Cash often gets a bad rap on the Forum. Personally I am in the withdrawal phase and I keep 2 -3 years MM fund for living expenses in my personal non-tax deferred account so that I am not forced to sell equity into a market collapse in order to make living expenses. I always keep an equity heavy port...
by garlandwhizzer
Mon Jan 22, 2018 11:05 am
Forum: Investing - Theory, News & General
Topic: Puzzled by Berkin & Swedroe contradiction re term premium
Replies: 4
Views: 606

Re: Puzzled by Berkin & Swedroe contradiction re term premium

There is considerable duration risk in 20 year nominal bonds which hurts if we enter into a long term rising rate, rising inflationary environment. Their principal value can become quite volatile to the downside in such a scenario. The other point is that the yield curve is rather flat now. You are ...
by garlandwhizzer
Sat Jan 20, 2018 2:27 pm
Forum: Investing - Theory, News & General
Topic: Nobody Knows Nothing - A Chart
Replies: 26
Views: 4544

Re: Nobody Knows Nothing - A Chart

willthrill81 wrote: So do you dispute, for instance, that SCV has beaten TSM over the long-term? The question is: does that guarantee that SCV or trend following will necessarily beat TSM after costs going forward now that many billions of investor dollars are pursuing those strategies. The answer ...
by garlandwhizzer
Fri Jan 19, 2018 7:46 pm
Forum: Investing - Theory, News & General
Topic: Investor Sentiment
Replies: 1
Views: 342

Investor Sentiment

The latest AAII investor sentiment poll is out and current investor sentiment is very bullish by historical standards. Bullish sentiment for market returns over the next 6 months is 54.1% which doesn't sound so impressive until you look at bearish sentiment which is less than half that at 21.4%. The...
by garlandwhizzer
Fri Jan 19, 2018 10:52 am
Forum: Investing - Theory, News & General
Topic: Superstars of Wrestling Investing - Ultimate S&P500 Valuation
Replies: 13
Views: 1629

Re: Superstars of Wrestling Investing - Ultimate S&P500 Valuation

nisi wrote: I don't mean to criticize mentioning this article--I like financial porn as much as the next guy--but its main value, if it has any, is to illustrate the point that at any given instant in time there are huge differences in the predictions of the best informed and most knowledgeable obs...
by garlandwhizzer
Fri Jan 19, 2018 10:47 am
Forum: Investing - Theory, News & General
Topic: Nobody Knows Nothing - A Chart
Replies: 26
Views: 4544

Re: Nobody Knows Nothing - A Chart

Great post, Rowan Oak, thanks.

Garland Whizzer