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). The third portfolio is just the Vanguard Balanced Index Fund (VBAIX).

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Brown Advisory

MARCH 30, 2018

Outlook for 2018 | Confronting the Unknown. Fri, 03/30/2018 - 11:57. Throughout 2017, our meetings and conversations with clients very frequently focused on the topic of risk. As always, we want to avoid skewing portfolios toward a specific market scenario, because we can’t accurately predict which scenario will come to pass.

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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. Not surprisingly, AI has also permeated public policy discussions, especially with the U.S. 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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The Big Picture

JANUARY 8, 2025

His firm runs over $10 billion in client crypto assets. To help us unpack this and what it means for your portfolio, let’s bring in Matt Hougan. I think many of the skeptics don’t evaluate where the data is today because they’re taking a 2022 or 2018 or 2014 view of Bitcoin and crypto. I’m Barry Ritholtz.

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Random Roger's Retirement Planning

MARCH 9, 2025

A portfolio strategy that goes narrower than a couple of broad based index funds probably has some exposure to dividend stocks already so the decision about whether to make any changes can be moot, you already have some exposure. To be clear, Portfolio 3 does use the portable alpha approach, it is leveraged by 40%.

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Random Roger's Retirement Planning

AUGUST 7, 2022

A couple of months ago we looked at The Cockroach Portfolio , a sort of all-weather portfolio that seems like it could be an attempt to update and evolve the Permanent Portfolio which allocates an equal 25% to stocks, long bonds, gold and cash. Starting in 2018 causes the performance to change as follows.

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Random Roger's Retirement Planning

MARCH 3, 2025

On Friday, I added gold to client accounts with GLDM. I added SH for clients a little while and have been holding BTAL for them and personally since 2018. We've talked about client holdings CBOE and NOC as having some defensive tendencies. It's like GLD but quite a bit cheaper. What is yours?

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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. Here’s a quick recap of 2018 and our thoughts heading into 2019. 2018: Tough Conditions Prove Helpful for Munis. Thu, 02/07/2019 - 08:44.

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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. The Merger Fund is a client and personal holding. It has 77.5%

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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. The longest reports typically target institutional clients—not individuals. 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

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. On Artificial Intelligence.

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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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Random Roger's Retirement Planning

NOVEMBER 18, 2022

The general idea is that selling puts can lower portfolio volatility (I use a different fund, with a much different put strategy that does this) and help manage the downside but not during crashes. Ditto the Christmas Crash in 2018. LOTIX is a managed futures fund with a comparison to the standard 60/40 portfolio as proxied with VBAIX.

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Random Roger's Retirement Planning

JUNE 12, 2023

I played around with SJB on Portfolio Visualizer and built the following comparison. Portfolio 3 is 100% Vanguard Balanced Index Fund (VBAIX) which is a proxy for a 60/40 portfolio. Below, Portfolio 1 and 3 are the same, Portfolio 2 I subbed in ProShares Short 20+ Year Treasury ETF (TBF).

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Random Roger's Retirement Planning

JUNE 16, 2024

My longest tenured clients have had some holdings for a full 20 years now and quite a few more names for 15 years. In 2018, Nvidia was down 30% versus 4% for the S&P 500 and in 2022 it was cut in half versus 18% for the S&P 500. Coincidental to the Fisher quote, I bought client holding Motorola Solutions (MSI) in 2013.

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Brown Advisory

APRIL 22, 2020

Oil & Water: Fossil Fuel Divestment in Sustainable Bond Portfolios ajackson Wed, 04/22/2020 - 13:47 To many sustainable investors, owning fossil fuels is a black-and-white issue. The fossil fuel divestment “movement” has gained some momentum in recent years, and it is a topic we discuss with a growing number of clients.

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Brown Advisory

APRIL 22, 2020

Oil & Water: Fossil Fuel Divestment in Sustainable Bond Portfolios. The fossil fuel divestment “movement” has gained some momentum in recent years, and it is a topic we discuss with a growing number of clients. Should an investor looking for a fossil fuel-free portfolio consider this bond? Wed, 04/22/2020 - 13:47. Conclusion.

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Random Roger's Retirement Planning

APRIL 11, 2024

One pushed back on the logic behind using the AGFiQ US Market Neutral Ant-Beta ETF (BTAL) in client accounts. Portfoliovisualizer shows the annual decline at 1.55% but taking out 2018 when it was up 15% and 2022 when it was up 20% and it would have been noticeably worse. There have been some engaging reader comments lately.

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Brown Advisory

MARCH 9, 2018

Our holy grail is the investment that offers our clients clear additional benefits without additional risk. We think that green bonds are a “no-brainer” for clients focused on sustainable investing. There are a number of reasons that clients may be interested in adding green bonds to their portfolios.

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Brown Advisory

MARCH 9, 2018

Income and Impact: Adding Green Bonds to Investment Portfolios. Fri, 03/09/2018 - 13:46. Our holy grail is the investment that offers our clients clear additional benefits without additional risk. We think that green bonds are a “no-brainer” for clients focused on sustainable investing. Green Bonds 101.

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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

APRIL 3, 2024

It is similar with managed futures or client/personal holding BTAL. 90/40 had a higher CAGR than traditional 60/40 but lower than 60% equities/40% managed futures in Portfolio 3. The advantage that both managed futures portfolios had over traditional 60/40 is how well they did in 2022.

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Random Roger's Retirement Planning

APRIL 9, 2024

Mutiny Funds put out a paper on the hows and whys of using alts for The Cockroach Portfolio that they manage and that we've looked at a few times. ASFYX is a client and personal holding. Merger arbitrage has been a pretty reliable way to reduce portfolio volatility and act like how investors hope fixed income will act.

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Trade Brains

FEBRUARY 22, 2024

They offer corporate banking, branch banking, and commercial banking services to their clients. 2018-19 ₹ 9,812.51 ₹ 3,460.77 In this article, we will compare Yes Bank vs IDFC First Bank in the banking sector. Yes Bank Company Overview Rana Kapoor founded the company in 2003 in Mumbai, India. 2020-21 ₹ 7,428.35 ₹ 7,383.03

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Random Roger's Retirement Planning

JULY 3, 2022

I recently added very short term t-bills and a CD for many clients getting in the neighborhood of 2.5% Client accounts also own hedges, call them alts if you'd like, that will hopefully help avoid the full brunt of large equity market declines, so far so good as we've talked about in several recent posts.

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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. of the principal invested in Canada.

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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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Random Roger's Retirement Planning

DECEMBER 12, 2023

The client was in his 70's when the story starts in 2015 and he had "at least $50 million." If portrayed correctly in the article, there is no way they were looking out for the client's interests. 500,000 back then would have grown into $6 million if they panic sold into the 2018 low.

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The Big Picture

DECEMBER 6, 2022

when I first moved from Spain, and I learned a lot because I spent a lot of time with financial advisors, which, as you know, is a key segment of our client base today. phenomenon, it’s a global phenomenon and we want to be able to service our clients in all regions of the world. Is that the clients you’re aiming for?

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Random Roger's Retirement Planning

JUNE 6, 2024

The fund builds a diverse portfolio of stocks and fixed income and layers long and short volatility in there to seek its objective. I chose client holding ROBO as the whatever because I've held it for ages, it has at times outperformed, at times it has lagged but I am not cherry picking the top performing thing I have to distort the results.

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Random Roger's Retirement Planning

AUGUST 28, 2022

I've mentioned before that I am test driving RDMIX for possible use in client accounts. The fund is a mix of risk parity (there's more to it which we'll get to) as a base, the primary portion of the portfolio. Let's look at RDMIX with Portfoliovisualizer and compare to a portfolio we've looked at a few times and 100% VBAIX.

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Random Roger's Retirement Planning

AUGUST 28, 2024

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. NTSX is leveraged up such that 67% equals 100% into a 60/40 portfolio. I would also note that managed futures did worse in 2016 than 2018.

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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. Gold should continue to be part of your portfolio with at least 10-15% allocation as portfolio insurance and not necessarily to generate higher returns.

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