The Big Picture

SEPTEMBER 23, 2023

This week, we speak with Armen Panossian , managing director and head of performing credit at Oaktree Capital Management , which has $179 billion in assets under management. He oversees the firm’s liquid and private credit strategies, and also serves as a portfolio manager within Oaktree’s global private debt and global credit strategies.

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Random Roger's Retirement Planning

JANUARY 14, 2024

Long time readers might know my fascination with Nassim Taleb's idea about barbelling portfolios to concentrate risk into a small slice while having the vast majority in safe assets. LFMIX in Portfolio 1 is the LoCorr Macro Strategy Fund and in Portfolio 2, QGMIX is AQR Macro Opportunities. So this is interesting.

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Random Roger's Retirement Planning

FEBRUARY 14, 2025

Torsten Slok blogged about how ineffective bonds have been in terms of providing any return or diversification benefits lately in the context of a 60/40 portfolio. The third portfolio is just the Vanguard Balanced Index Fund (VBAIX). Despite all the leverage, Portfolio 1 has a very smooth ride including up a lot in 2022.

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Random Roger's Retirement Planning

MARCH 29, 2025

First up, Phillip Toews who runs an asset management shop and who wrote a book about about behavioral portfolio construction wrote about understanding market history and a section on how to build robust portfolio that reads like he could have outsourced that part of the article to me. That is buying low.

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Good Financial Cents

NOVEMBER 9, 2022

Having enough income-producing assets working in your favor can make it possible to “live rich” – or at least get by – without ever having to clock in for an employer again. These people have income-producing assets spinning off profits or dividends, and they use those funds to pay for their bills and lifestyle.

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Brown Advisory

NOVEMBER 26, 2018

2018 Impact Report: Sustainable Core Fixed Income Strategy ajackson Mon, 11/26/2018 - 08:01 A Letter of Introduction From The Portfolio Managers Brown Advisory is deeply committed to sustainable investing. 30, 2018, our firm managed approximately $4.1 As of Sept. and Brown Advisory Trust Company of Delaware, LLC.

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Brown Advisory

NOVEMBER 26, 2018

2018 Impact Report: Sustainable Core Fixed Income Strategy. Mon, 11/26/2018 - 08:01. A Letter of Introduction From The Portfolio Managers. . 30, 2018, our firm managed approximately $4.1 billion* in client assets under various sustainable investment mandates for individuals, families and institutions. As of Sept.

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Random Roger's Retirement Planning

FEBRUARY 17, 2024

It is a complex fund that at a high level goes long and short various asset classes, pairing various attributes against each other. From the AQR site , QSPIX "aims to deliver attractive risk adjusted returns with low correlation to traditional stock/bond portfolios by investing in a broad and diversified range of alternative risk premia."

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Random Roger's Retirement Planning

DECEMBER 22, 2023

With that preamble, I started thinking about the 75/50 portfolio that I first started writing about during the Financial Crisis. I've mentioned 75/50 a couple of times in passing but the big idea was to create a portfolio that captures 75% of the upside of the equity market with only 50% of the downside. ARBFX 3.7%

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Brown Advisory

MARCH 30, 2018

Outlook for 2018 | Confronting the Unknown. Fri, 03/30/2018 - 11:57. While February’s volatility did not materially change our asset allocation views, it reinforced to us the importance of a comprehensive discussion about how we think about risk and how we manage it. These views have led us to reduce exposure to large-cap U.S.

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Random Roger's Retirement Planning

MARCH 4, 2025

I spent a lot of time Monday evening going down the Blackrock rabbit hole starting with their thoughts about adding Bitcoin to a portfolio which they say they're starting to do in their models. The Blackrock Opportunistic Alts Portfolio is more interesting. This model overlaps a lot with the next model. It has 77.5%

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Brown Advisory

MAY 31, 2018

NOW 2018 | China and the Race for Artificial Intelligence achen Thu, 05/31/2018 - 09:20 The advent of artificial intelligence (AI) is one of the top technology stories in recent years. It should not be assumed that investments in such securities or asset classes have been or will be profitable. Sharpened by both the U.S.

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Brown Advisory

MAY 31, 2018

NOW 2018 | China and the Race for Artificial Intelligence. Thu, 05/31/2018 - 09:20. The race is on to lead the world in AI innovation, and a panel of experts at NOW 2018 offered insight on the competitive dynamics between the two global superpowers driving progress in AI. Sharpened by both the U.S.

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Validea

MARCH 13, 2025

Strong Liquidity (Current Ratio 2) A companys current assets must be at least twice its current liabilities, ensuring financial stability. Low Debt Levels (Long-Term Debt Net Current Assets) Limiting debt helps safeguard a companys financial health, especially during economic downturns.

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Darrow Wealth Management

JULY 1, 2024

In 2018, the brackets dropped to 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Mortgage interest will once again be tax-deductible on larger loans As a result of the 2017 legislation, between 2018 and 2025, interest on new mortgages is only tax-deductible up to $750,000 of mortgage debt on a primary or second home.

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Brown Advisory

FEBRUARY 7, 2019

Muni Bonds: Winners in 2018 and Bright Skies Ahead for 2019 ajackson Thu, 02/07/2019 - 08:44 Municipal bonds held their ground in 2018, and truly shined when equity markets were punished during the fourth quarter. Here’s a quick recap of 2018 and our thoughts heading into 2019. Treasury yields in late November and December 2018.

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Brown Advisory

FEBRUARY 7, 2019

Muni Bonds: Winners in 2018 and Bright Skies Ahead for 2019. Municipal bonds held their ground in 2018, and truly shined when equity markets were punished during the fourth quarter. Rising uncertainty for risk assets, coupled with a favorable mix of healthy demand and limited supply, offer a promising backdrop.

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Random Roger's Retirement Planning

APRIL 17, 2024

The idea of building an All-Weather portfolio of course has its appeal. The basic idea is to be much less volatile than the broad market or the typical 60/40 portfolio. It raises the question though of how much performance should an investor expect or be willing give up for the potential emotional comfort of an All-Weather portfolio.

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Investment Writing

SEPTEMBER 5, 2023

Commentary about portfolio performance is part of every investment manager’s communications. It can consist of a single line giving portfolio returns. In this article, I review portfolio performance reports’ common components. In this article, I review portfolio performance reports’ common components.

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Random Roger's Retirement Planning

SEPTEMBER 18, 2024

My interest goes back long before the ReturnStacked ETFs existed and I believe long before the term capital efficiency was common, to Nassim Taleb writing about barbelling returns where most of the risk is allocated to just 10% of a portfolio with the rest in very conservative things like T-bills. Here is some modeling we did on August 19th.

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Brown Advisory

NOVEMBER 8, 2018

Private Credit: A Surprisingly All-Weather Asset Class. Thu, 11/08/2018 - 09:35. Private credit has experienced a post-recession boom, but with rates rising steadily and default risk possibly increasing as well, some view the asset class with caution. Does the asset class still make sense in this environment?

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Discipline Funds

JULY 21, 2023

You’re buying a long-term asset that is designed to lose money, but will create a very large short-term real return in the case of an outlier risk event. Investment portfolio insurance is a more interesting thought exercise. May 28, 2018). And that is the ultimate form of financial certainty.

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Trade Brains

FEBRUARY 22, 2024

The higher the asset quality of banks, the better the state of the economy. Battled Crisis The company, which was once an outperformer and the 5th largest private bank in the country, ran into problems due to stressed assets such as ADAG, Essel Group, and DHFL. 2018-19 ₹ 9,812.51 ₹ 3,460.77 2020-21 ₹ 7,428.35 ₹ 7,383.03

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Brown Advisory

JUNE 14, 2018

NOW 2018 Conference: Our Investment Team’s Roundtable Recap achen Thu, 06/14/2018 - 10:27 The NOW conference is always memorable, but this year’s conference included some particularly compelling and provocative ideas. Jane Korhonen, a portfolio manager in our Washington, D.C.

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Brown Advisory

JUNE 14, 2018

NOW 2018 Conference: Our Investment Team’s Roundtable Recap. Thu, 06/14/2018 - 10:27. I wanted to make sure we considered those ideas and their implications for the portfolios we manage for our clients, with truly open minds. Jane Korhonen, a portfolio manager in our Washington, D.C.

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Random Roger's Retirement Planning

SEPTEMBER 18, 2023

RSST is similar to client/personal holding Standpoint Multi Asset (BLNDX/REMIX) in that both blend equities and managed futures but I think they are targeting different return profiles. The portfolio constituents are labeled on the screen grab. I think that is attributable to a terrible year for 100/100 in 2018.

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The Big Picture

OCTOBER 9, 2024

To help us unpack all of this and what it means for your portfolio, let’s bring in Professor Aswath Damodaran of NYU School of Business. purely by luck in 2018. I’m Barry Ritholtz, and on today’s edition of at the money, we’re going to explain how to become more savvy about understanding equity values.

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Random Roger's Retirement Planning

OCTOBER 10, 2023

There was some interesting reading today looking at various portfolio construction and strategy issues. lagged far behind the Vanguard Balanced Index Fund (VBAIX) which is a proxy for a 60/40 portfolio. lagged far behind the Vanguard Balanced Index Fund (VBAIX) which is a proxy for a 60/40 portfolio. For the year, that 1.8%

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Random Roger's Retirement Planning

JUNE 26, 2024

I stumbled into an old podcast from Resolve Asset Management that looked at the lack of differentiation from most factors and how to seek out "orthogonality" to get better diversification. And because I think it's related, I wanted to put another simple, Permanent-inspired portfolio on the table to discuss with Portfolio 2.

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Harness Wealth

NOVEMBER 12, 2024

While it’s not always advisable to sell investments at a loss, it may make sense in your situation to consider selling underperforming assets, especially if you’re willing to invest in alternative assets that provide similar exposure without triggering a wash sale. Find your next tax advisor at Harness today. million ($27.98

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Random Roger's Retirement Planning

JUNE 27, 2022

The first is from Nomadic Samuel who in a recent post on what I think is his quest to find the perfect portfolio said "When it comes to building portfolios that are prepared for every economic curveball thrown their way allocating assets in a balanced manner is crucial." A couple of thought provoking comments to consider.

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Truemind Capital

JULY 26, 2024

In 2018, we decided to have a Gold allocation of ~15% to all our client’s portfolios owing to macroeconomic developments. When so much money is printed without any underlying asset to back it, it starts losing its value, especially when the interest rates are close to zero.

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Risk Management Guru

APRIL 21, 2020

Why portfolio diversification is for the ignorant investor. This is often mentioned in the world of investing where clients trust their advisors to spread their money over a hundred stock funds among other asset classes such as bonds and commodities to protect their customers against risk. Financial Post. Financial Post , 7 Dec.

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The Irrelevant Investor

OCTOBER 17, 2019

trillion in financial assets as of December 2018. of average household assets DC-only households were least likely to trade, with only 6% trading, while 4 in 10 households holding both IRA and taxable accounts traded. Again, only 6% of households with defined contribution accounts made changes to their portfolio in 2018.

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Random Roger's Retirement Planning

AUGUST 28, 2024

The Catalyst/Aspect Enhanced Multi-Asset Fund (CASIX) just started trading at the start of the year. It seems to take a page from client/personal holding Standpoint Multi-Asset (BLNDX) by layering managed futures on top of, in this case, a passive 60/40 portfolio. We can backtest this a couple of different ways.

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The Irrelevant Investor

JUNE 15, 2019

trillion in assets. In 2018, 52% of all participants at Vanguard were invested in a single target-date fund. In 2018, 52% of all participants at Vanguard were invested in a single target-date fund. They anticipate that by 2023 80% of all assets at Vanguard will be in an automatic investment program.

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Random Roger's Retirement Planning

JULY 3, 2022

Certainly there are plenty of places in traditional fixed income to hide out while the most volatile parts of the asset class continues to work through whatever it is working through. I think it is important to manage portfolio volatility to reduce the odds of panicking and reduce the odds that client income needs are disrupted.

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