Taylor Larimore wrote: ↑
Sun Jun 09, 2019 1:50 pm
nedsaid wrote:As far as Rick, his book "All About Asset Allocation" has been forgotten. Sort of like Mission Impossible message where the agent is warned that if captured that the Secretary will disavow all knowledge. The book has met that fate.
Your quote is very unfair -- and it is wrong. I am surprised you wrote it.
I own Rick's second edition of All About Asset Allocation
published in 2006. It currently has 4 1/2 Amazon stars (out of 5). John Bogle wrote this endorsement:
All about Asset Allocation offers advice that is both prudent and practical--keep it simple, diversify, and above all, keep your expenses low--from an author who both knows how vital asset allocation is to investment success and, most important, works with real people."
I selected All About Asset Allocation
for my Collection of Investment Gems
. This is a link to Rick's many Gems, most of which are as important today as they were when the book was written:
All About Asset-Allocation
After winning a large lawsuit from the firm that purchased Rick's former advisory business, we are fortunate that Rick recently returned to being a financial adviser.
I own Rick's book and enjoyed it. I thought it was an excellent work. Granted, it was written some years ago and Rick has refined his thinking to some degree since. People are entitled to change their minds on things. I just reacted to Rick acting as if he had never written the book, wondering aloud why we spend much time even talking about factors. Rick was one of the influencers who convinced me the efficacy of Small/Value tilting some years ago. Things just sort of disappeared down the old memory hole.
This got started when Rick made a comment about the "Larry portfolio." He wondered which one it was since Larry had so many. He gave Larry the raspberries for changing his mind on things. I then reminded Rick of his book, which advocated Small-Value tilting. I did remind Rick that his own thinking had changed a bit over the years. I didn't mention that he also has put out a number of model portfolios himself. Sort of like standing at the plate and seeing a high, hanging curveball. I just couldn't resist taking a swing at a fat pitch. Knocked it over the deep centerfield fence.
I googled "Rick Ferri Small-Cap Value" and got this link:
https://www.forbes.com/sites/rickferri/ ... a28e2a1179
Larry Swedroe or Paul Merriman could have written this article. Rick said this in the article,
"The academic research supporting small-cap value exposure is robust." Now it seems that Rick is
more 3 fund than the Boglemeister himself. More Bogle than thou.
In fairness to Rick, his portfolios were not complex, certainly simpler than Paul Merriman's. His books were written with what was known at the time. He is a good author and I would recommend his work to others. He is a recommended author here and I would add my endorsement to his writings.
I also have read his posts faithfully here over the years. He did post once that he thought the premiums from factor tilts would about cover his fees. Rick also posted something like that the older that he got, the more he saw the wisdom in simpler portfolios. So I could see the refinements to his thinking.
I am very grateful that Rick has returned full force to the forum. I am also glad that he is back in the advisory business and am certain that he serves his clients well.
A fool and his money are good for business.