Random Roger's Retirement Planning

OCTOBER 19, 2023

Here's the latest about Harvard from Bloomberg that included this chart of the asset allocation. It's not that someone could not copy the asset class exposure, just that the return streams would not look the same and often, various forms of sophistication replication does not really work in fund form. Black is 2023.

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Random Roger's Retirement Planning

JULY 15, 2024

First up, the Harvard Endowment which posted the following asset allocation. Here's an article at theStreet.com from 2007 where I bagged on PSP. Arguably neither one is very close in terms of how it replicates but borrowing the asset allocation from the top down yields what I would call a valid result. I used PSP.

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The Big Picture

SEPTEMBER 12, 2022

They run over $800 billion in client assets, and Kristen’s group, the North American Group, is responsible for about half of the revenue that that massive organization generates. At Citi, in 2007, fantastic timing, you take over as Head of Structured Solutions. And so, 2007, I came over to Citi. BITTERLY MICHELL: Always risk.

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Random Roger's Retirement Planning

JULY 8, 2023

Having that much in asset classes that are intended to not look like equities should mean that the long term result won't look anything like the stock market. A 25% allocation to equities for someone who needs equity market growth for their plan to work won't get it done. Then it more than cut in half but is now at 4400.

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The Irrelevant Investor

JUNE 13, 2017

This fierce competition amongst asset management companies is driving down expense ratios, but investor's are potentially paying higher costs. Large Cap ETFs with over $500 million in assets, which means there will always be something in that category doing better than what you've selected. There are 50 U.S.

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The Irrelevant Investor

JUNE 15, 2019

trillion in assets. They anticipate that by 2023 80% of all assets at Vanguard will be in an automatic investment program. Automatic enrollment has tripled since 2007. 18,500, $24,500 for people 50 or older) The chart below shows overall asset allocation in these plans. Here are some of their key findings.

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Darrow Wealth Management

MAY 22, 2023

The federal funds rate hasn’t been this high since 2007 when it peaked at 5.25%. So when the federal funds rate goes up, it can have an outsized impact on shorter term interest rates on assets like Treasury bills (T-bills). This has been the faster pace of rate hikes since the 1980-1981 cycle.

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Random Roger's Retirement Planning

AUGUST 12, 2024

Or you could look at the 2007 high which was within a few points of the 2000 high and say it took 12 years to double. The first is to build a portfolio that you have a reasonable basis to believe can get you to where you need to be can stick with emotionally and maintain an asset allocation that allows you to manage sequence of return risks.

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Truemind Capital

MAY 19, 2020

The chart below illustrates that the smart money enters when valuations are low and the majority of the investors aren’t looking at that asset class or security. The important takeaway is that there should be an allocation plan prepared for asset class volatility and it shouldn’t be just an ad-hoc emotional buying or selling.

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James Hendries

JUNE 20, 2023

As the economy is likely downshifting, investors should take heed that the Federal Reserve’s (Fed) current stance is eerily similar to early 2007. A Lot Can Change in a Few Quarters So, why bring up a Fed statement from 2007? A lot changed over the course of 2007 and 2008 as the economy fell into the Great Financial Crisis.

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The Big Picture

JULY 11, 2023

One is we were securitizing the assets in the auto loan and selling them off to other asset managers because we weren’t able to buy them ourselves. The requirements for asset managers to have a bank were such that it would inhibit us a bit. JOHNSON: …for most assets. I also ran our credit card business at the time.

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The Big Picture

FEBRUARY 6, 2024

So it’s, 00:09:11 [Speaker Changed] You’ve become an enterprise, it’s 10 x what it once was in terms of headcount, it’s much bigger in terms of assets. Then what enables that you have to have some asset ability capability that competitors can’t equally duplicate. I do keep a strong balance sheet.

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James Hendries

NOVEMBER 15, 2022

One equity market debate discussed frequently in the LPL Research Strategic & Tactical Asset Allocation Committee (STAAC) is the growth vs. value style reversal experienced the past 12 months. Since then, value has outperformed growth for the longest sustained period since 2003–2007. large cap S&P 500 Index. Conclusion.

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The Big Picture

NOVEMBER 8, 2022

No, I — the first thing I spoke at was a Goldman Sachs Asset Management conference, strange enough in a place called Carefree, Arizona. I was having lunch with Jeremy in the summer of 2007, just after the Bear Stearns hedge fund started blowing up. Jeremy called and said, “Would you like to join the asset allocation team?”

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Random Roger's Retirement Planning

NOVEMBER 21, 2024

There's no fact sheet yet and while the holdings are available, the asset allocation is vague without calculating the spreadsheet yourself which I did (hopefully correctly). To my knowledge, RYMFX was the first managed futures mutual fund and it had the space to itself for several years after in launched in 2007.

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Brown Advisory

DECEMBER 2, 2015

History offers many examples of investors beguiled and then burned by high-yield bonds sold by overleveraged companies, from telecommunications firms in 2000 to homebuilders in 2007 to coal mining companies in 2014. By Taylor Graff, CFA, Asset Allocation Analyst. Anchoring Expectations.

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Brown Advisory

JULY 1, 2016

Changes in their assumed rate of return can impact decisions ranging from asset allocation to the spending level that a portfolio can rationally support. Low rates are generally good for stocks, as they tend to drive investors into riskier asset classes with higher return potential.

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Brown Advisory

JULY 1, 2016

Changes in their assumed rate of return can impact decisions ranging from asset allocation to the spending level that a portfolio can rationally support. Low rates are generally good for stocks, as they tend to drive investors into riskier asset classes with higher return potential.

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Investing Caffeine

MAY 2, 2022

For long-term stock investors who have reaped the massive +520% rewards from the March 2009 lows, they understand this gargantuan climb was not earned without some rocky times along the way.

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Carson Wealth

JUNE 12, 2023

We found there were two times during the tech bubble that stocks gained 20% and again moved to new lows, and it also happened during the global financial crisis of 2007-2009. It was developed a decade ago and is a key input into our asset allocation decisions.

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Brown Advisory

NOVEMBER 12, 2019

On the other hand, based on the normal relationship of earnings multiples to interest rates, stocks are meaningfully undervalued relative to bonds and appear to be one of the few asset classes offering the prospect of inflation-beating returns. And is there enough concern over such a prospect to seriously undermine investor confidence?

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Brown Advisory

NOVEMBER 12, 2019

On the other hand, based on the normal relationship of earnings multiples to interest rates, stocks are meaningfully undervalued relative to bonds and appear to be one of the few asset classes offering the prospect of inflation-beating returns. And is there enough concern over such a prospect to seriously undermine investor confidence?

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Brown Advisory

MARCH 30, 2020

For the past year, we have been preparing client portfolios for the end of the extended bull market run that began in 2009—building cash and liquidity reserves, and also exploring opportunities in private and alternative asset classes that historically have offered lower correlation with public markets. Despite the U.S.

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Brown Advisory

MARCH 30, 2020

For the past year, we have been preparing client portfolios for the end of the extended bull market run that began in 2009—building cash and liquidity reserves, and also exploring opportunities in private and alternative asset classes that historically have offered lower correlation with public markets. Source: BLOOMBERG. . Despite the U.S.

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Brown Advisory

APRIL 1, 2015

Although we expressed some worry about the long-term effects of mounting deficits, we concluded that stocks and other assets were not in bubble territory and represented good value despite what we saw as a weak economic recovery. Some might argue that the Fed’s policy could trigger another crisis as asset prices become overly inflated.

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Brown Advisory

AUGUST 6, 2019

As head of asset allocation research in our Investment Solutions Group, he is responsible for analyzing the relative attractiveness of various asset classes and investment strategies. housing in 2007) or a spike in oil prices (1973, 1980 and 1990)—conditions that are not present today. Source: Bloomberg.

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Brown Advisory

AUGUST 6, 2019

As head of asset allocation research in our Investment Solutions Group, he is responsible for analyzing the relative attractiveness of various asset classes and investment strategies. housing in 2007) or a spike in oil prices (1973, 1980 and 1990)—conditions that are not present today. Source: Bloomberg.

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Brown Advisory

SEPTEMBER 22, 2017

This work builds on the Capital Asset Pricing Model developed in the 1960s.) The United Nations Environment Program published a helpful review of key academic and broker reports on responsible investment and performance (UNEP, 2007). Deutsche Asset & Wealth Management White Paper. The Guardian. Available from [link]. Hoepner, A.

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Brown Advisory

SEPTEMBER 22, 2017

This work builds on the Capital Asset Pricing Model developed in the 1960s.) The United Nations Environment Program published a helpful review of key academic and broker reports on responsible investment and performance (UNEP, 2007). Deutsche Asset & Wealth Management White Paper. The Guardian. Available from [link]. Hoepner, A.

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The Big Picture

APRIL 4, 2023

 The transcript from this week’s, MiB: Ken Kencel, Churchill Asset Management , is below. BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest, Ken Kencel of Churchill Asset Management, CEO, Founder, President. This is really a fascinating story. Ken Kencel, welcome to Bloomberg.

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The Big Picture

MARCH 12, 2024

No income, no job, no assets were exactly ninja, Sean Dobson : No pulse seems reasonable. We see it as, like I said, about 50 million assets and we’re modeling up the value of every home in the country, every, every week, basically. We’re we’re the quant shop in real estate, in the quant shop in physical assets.

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The Irrelevant Investor

OCTOBER 20, 2015

Fisher, 1958 The Money Game - George Goodman, 1967 A Random Walk Down Wall Street - Burton Malkiel, 1973 Manias, Panics, and Crashes: A History of Financial Crises - Charles Kindleberger, 1978 The Alchemy of Finance - George Soros, 1987 Market Wizards - Jack Schwager, 1989 Liar's Poker - Michael Lewis, 1989 101 Years on Wall Street, An Investor's Almanac (..)

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Truemind Capital

SEPTEMBER 13, 2019

Had you invested in Sensex in Dec 2007, the next 10 years returns have been ~6.5-7% Similarly, in Example 5, Sensex was trading at a PE of 28x in Dec 2007, much higher than its long term average of 18x-19x. Investors just earned dividends while capital appreciation was zero. Source: Moneycontrol.com.

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The Big Picture

JUNE 20, 2023

In 2007, firms extracted — the private equity firms extracted $20 billion from companies in the form of dividend recapitalizations. Or should this be kept out of private asset allocators’ hands? I think in 2007, we had 24 square feet per capita versus Europe, which was like 14, and Japan, which was like 9.

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The Big Picture

NOVEMBER 25, 2024

We were talking about luck earlier, got introduced to a local asset manager outside of Boston who saw what I was working on and said, this is really interesting. And so as those assets grew, I’m now a young 20-year-old going out trying to go to other asset managers saying, Hey, I have this quantitative research.

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The Big Picture

OCTOBER 6, 2024

Recall in 2007, the polls had a head-to-head featuring Rudy Giuliani and Hillary Clinton (neither became their party’s 2008 nominee). Highly dependent on precise phrasing of questions That’s just about basic market, economic, and asset allocation questions. November 2023 polls showed Biden vs Trump.

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