Travel: NC

I will be chatting up the CFA societies in Charlotte, Winston-Salem, and Raleigh next week.  Stop by and say hello if you're in town!   Charlotte August 5th 12 Noon   TRIAD August 6th 8AM   TRIANGLE August 6 12 Noon  

Asset Allocation Strategies

I have been contemplating writing a book or white paper on asset allocation strategies.  But like many pieces I have started to write this summer, I have simply ended up condensing an entire 200 page book into one blog post.  Maybe it is a case of summer-itis, but I seem to be following the old Thoreau quote - simplify,...

Superhero Inflation

A few fun infographics from Mashable/Samsung.  Kudos to the artist Bob  for getting most of the inflation numbers broadly correct.  (The exception is Batman, once you back out the one time charges for the BatPlane and the BatCave it is more reasonable.)  

Just Go Halfsies

Many people are attracted to investing (rather, trading)  largely due to the excitement.  Also, a lot of people like to have a position one way or another so they can cheer for the position, much the same way they cheer for a sports team or their home country.  ie I'm long gold!  I'm short Tesla!  Go Broncos! So, the act...

Indexing 2.0 (aka Better Indexing)

Here is a fun email I sent out to The Idea Farm this week...thought I would share since lots email me about similar topics... I was considering doing this post as an entire book, but I have too many other articles in front of it.  The basic thesis is that there are a lot of simple, small improvements one can...

Shareholder Yield Book Free on Amazon

Amazon lets you offer your book for free on Amazon for five days per quarter, so I have it setup to be free today through Monday.   So, download a free version while you can (you can read on Kindle, iPad, computer, etc)...! Download here

Is Gundlach Right, Have Bonds Bottomed?

A few weeks ago bond king and fellow Angeleno Jeff Gundlach mentioned that he thought bonds were near a bottom.  From Reuters: "The momentum of higher interest rates is slowing," Gundlach said. "Now is the time to be thinking about taking advantage of the price discounts that exist in some of the risk areas of the bond market," he added. Now...

More on Timing

Fun article on timing stocks.

Factor Tilts

I was thinking about putting together a piece about "Indexing 2.0".  ie What is the best was to build a portfolio that incorporates most of the factor anomalies, and maybe a chart with all of the ETFs filled in for the spaces.  This article reminded me of the project...with an interesting quote from Bill Bernstein: So, short-term T-bills remain appropriate...

How is CAPE Working?

I took a look at the CAPE values at year end 2012 to see how those markets were performing in 2013. The 10 cheapest are up around 1%, and the 10 most expensive are down around 6%. The five most expensive countries by CAPE at end 2012 are -11% YTD, led by expensive Peru and Columbia.   We sent out the CAPE...