Random Roger's Retirement Planning

FEBRUARY 17, 2024

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." So a core holding, I think that conceptually it could be risk parity meets the Permanent Portfolio?

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Portfolio Management Taxes Marketing 81

Alpha Architect

AUGUST 29, 2022

We address this question by examining equity markets’ reaction and investors’ portfolio rebalancing in response to the first-time disclosure of the ratio of CEO to median worker pay by U.S. public companies in 2018. Do equity markets care about income inequality?

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Marketing Marketing Portfolio 119

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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Portfolio Asset Allocation Accounting Management 74

The Big Picture

SEPTEMBER 23, 2023

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. 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.

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Management Medical Portfolio Management Economics 182

Random Roger's Retirement Planning

AUGUST 5, 2022

In the last few blog posts we've looked at portfolios that seek to replace bonds with alts in such a way to reduce portfolio volatility the way bonds used to. In a couple of instances we've created portfolios that outperformed Vanguard Balanced Index (VBAIX) a proxy for a 60/40 portfolio and did so with a lower standard deviation.

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Portfolio Numbers Marketing Marketing 70

Calculated Risk

MAY 29, 2024

Asset Quality Metrics Remained Generally Favorable With the Exception of Material Deterioration in Credit Card and Commercial Real Estate (CRE) Portfolios: Loans that were 90 days or more past due or in nonaccrual status increased to 0.91 The quarterly increase was led by commercial and industrial loans and non-owner-occupied CRE loans.

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Numbers Banking Insurance Assets 124

Trade Brains

JANUARY 17, 2024

The company’s portfolio includes complexes and drugs in the respiratory, anti-retroviral, urology, cardiology, anti-infective, CNS, and other key therapeutic fields. Sun Pharma’s portfolio includes innovative specialty medicines, branded generics, pure generics, and APIs. 2018-19 ₹ 16,362.41 ₹ 29,065.91 ₹ 1,492.44 ₹ 3,209.32

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Pharmaceutical Planning Medicine Manufacturing 111

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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Trade Brains

JANUARY 29, 2024

2018-19 ₹ 5,024.69 ₹ 2,654.05 2018-19 ₹ -1,537 ₹ 1,366.56 2018-19 -1.36 2018-19 -0.99 SJVN SJVN intends to diversify its portfolio by undertaking various projects as part of the government’s 24/7 electricity initiative. Suzlon SJVN 2022-23 ₹ 5,970.53 ₹ 2,938.35 2019-20 ₹ 2,972.85 ₹ 2,644.66 2021-22 -1.79

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Planning Government Accounting Transportation 111

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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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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Wealth Management

FEBRUARY 14, 2023

billion SPDR S&P Kensho New Economies Composite ETF uses natural-language processing in its portfolio construction.

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Economy Portfolio 59

Trade Brains

FEBRUARY 14, 2024

2018-19 ₹ 1,710.77 ₹ 215.79 2018-19 ₹ - 22.52 ₹ 88.67 Particulars/ Financial Year RoCE (%) Titagarh Railsystems Jupiter Wagons 2022-23 16.82% 23.88% 2021-22 8.87% 11.74% 2020-21 4.27% 11.24% 2019-20 1.87% 2.36% 2018-19 1.08% 1.06% Debt Analysis Titagarh and Jupiter’s debt-to-equity ratios in FY23 were 0.71 crore and Rs.

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Planning Manufacturing Transportation License 105

Trade Brains

NOVEMBER 17, 2023

2018-19 7.04 -1.87 Financial Year OPM NPM 2022-23 23.86% 15.77% 2021-22 14.55% 5.50% 2020-21 53.85% -18.26% 2019-20 6.69% -55.99% 2018-19 45% -27.13% Average (5 Years) 28.79% -16% Return Ratios The company growth in RoE was 96.9% However, with an exponential growth in Net profits, CAGR growth cannot be compared. Net Profit (Cr.)

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Government Engineering Distribution Planning 115

Random Roger's Retirement Planning

MARCH 11, 2024

The 1987 crash was partly attributed to selling portfolio insurance and there was the so called Volmageddon of 2018. 2018 was not 1987 and if there is another event where volatility ends up being a major determent then it will be different than the other two but with some overlap. There have been volatility events before.

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Numbers Insurance Marketing Marketing 98

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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Portfolio Asset Allocation Advertising Numbers 102

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 5, 2024

Starting back in 2007 or 2008 I wrote about his barbell portfolio idea that goes very high risk with 10% of the portfolio in search of asymmetric returns and then very conservative with the other 90%. The returns generated from the 10% could almost be enough for the entire portfolio. Here's an example of the effect.

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Portfolio Retail Investing Investments 91

Trade Brains

FEBRUARY 22, 2024

2018-19 ₹ 9,812.51 ₹ 3,460.77 2019-20 (₹ 16,432.58) (₹ 2,843.39) 2018-19 ₹ 1,709.26 (₹ 1,907.87) Net Interest Margin and Net Profit Margin Yes Bank’s and IDFC FB’s NIM in FY23 were 2.22% and 5.26%, respectively, representing 9.35% and 3.13% year-on-year increases. Particulars/ Financial Year Net Interest Income (Cr.)

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Banking Planning Accounting Retail 104

Random Roger's Retirement Planning

SEPTEMBER 18, 2023

The portfolio constituents are labeled on the screen grab. I think that is attributable to a terrible year for 100/100 in 2018. Terrible year in 2018 or 2022? 2018 was still lousy and 2022 was very good. I am more open to RSST as a core position than I was but 2018 is a good example of how it can go poorly.

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Management Portfolio Clients Investments 75

Random Roger's Retirement Planning

APRIL 3, 2024

Looking at AQMIX on your statement kind of going nowhere for 10 years could be difficult but clearly a portfolio with the allocation in Portfolio 3 would have kept up just fine and if they had focused on the bottom line number and not the line items, it would not have been difficult. 90/40 was down 1.56% and Portfolio 3 was up 3.25%.

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Numbers Portfolio Management Retirement 96

Random Roger's Retirement Planning

JUNE 26, 2024

Although the way we articulate these ideas has changed we've basically been having the same conversation about trying to learn how to better diversify the portfolio without giving up too much of the equity market's ergodicity, it's inertia from going up more often than not. The ride is obviously very smooth over a decently long time frame.

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Portfolio Management Numbers Taxes 95

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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Taxes Tax Planning Planning Estate Planning 89

Trade Brains

NOVEMBER 6, 2023

2018-19 3,652.45 Financial Year OPM (%) NPM (%) 2022-23 6.50% 2.66% 2021-22 2% -2.81% 2020-21 0.65% -6.21% 2019-20 8.72% 1.63% 2018-19 7.63% 3.93% Average (5 Years) 5.10% -0.16% Return Ratios Force has RoE 7.38% in FY23 as compared to -5.08 Earnings remain volatile till the volume stabilizes. Financial Year Revenue (Cr.) 2019-20 3,080.52

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Planning Transportation Engineering Manufacturing 105

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

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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Trade Brains

SEPTEMBER 11, 2022

Revenue (Rs in Cr) 2018 2019 2020 2021 2022. Profit Margin ratios (Rs in Cr) 2018 2019 2020 2021 2022. Return ratios (Rs in Cr) 2018 2019 2020 2021 2022. Valuation Parameter (Rs in Cr) 2018 2019 2020 2021 2022. The post Apollo Hospitals Vs Fortis Healthcare – Which Stock to Inject Into Your Portfolio?

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Healthcare Portfolio Medical Valuation 52

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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Valuation Investing Investments Numbers 325

Carson Wealth

JANUARY 8, 2024

The top panel of the chart below shows initial claims for unemployment benefits across the entire year (2023 in dark blue), compared to claims in 2022 (gray) and the average across 2018-2019 (yellow). It indicates layoffs remain low, which is why initial claims for unemployment benefits match the low levels seen in 2022 and even 2018-2019.

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Marketing Marketing Economy Numbers 96

Random Roger's Retirement Planning

APRIL 11, 2024

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. The 2020's have not been lost for managed futures so the same portfolios from 2020 onward. Here's the year by year. Obviously, the BTAL blend held up much better in 2022.

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Management Taxes Accounting Portfolio 93

Random Roger's Retirement Planning

JUNE 16, 2024

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. For maintaining a diversified portfolio, the attributes of both stocks are important. In 2018, the 50/50 blend was up 12% versus a 4% drop for the S&P 500.

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Investing Investments Clients Taxes 90

Trade Brains

SEPTEMBER 13, 2023

RIL invested approximately Rs 1340 crore and purchased a 73% stake in 2018. Mukesh Ambani Investment in Startups #3 – Addverb Technologies Enhancing e-commerce, warehouse management, and energy generation have been top priorities for Addverb Technologies, a technology business that specializes in the application of robotic solutions.

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Trade Brains

MAY 23, 2023

Fiscal Year Operating Revenue Net Profit 2023 TBA TBA 2022 3,084 256 2021 1,768 127 2020 1,534 70 2019 1,569 72 2018 1,393 76 5-Yr CAGR 17.23% 27.64% (figures in Rs Cr except for CAGR) Profits can rise faster than sales either because of operating leverage or margin improvement. With Laxmi Organic, both factors played their respective roles.

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Planning Manufacturing Sales Pharmaceutical 105

Random Roger's Retirement Planning

SEPTEMBER 12, 2024

He gave examples like Risk Parity, Permanent Portfolio, Talmud (never heard of that one), the Endowment Portfolio and there were comments for others including the Ivy Portfolio which is different from the Endowment Portfolio. In 2018, EBSIX went up until it's ex-dividend date and in 2020 it went up a little more.

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The Big Picture

FEBRUARY 14, 2024

I’m Barry Ritholtz, and on today’s edition of At the Money, we’re gonna discuss whether war and inflation 20 somehow adds up to higher portfolio prices. Q4 2018, 19.9%. The answer might surprise you. To help us unpack all of this and what it means for your investments, let’s bring in Jeff Hirsch. Either way].

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Marketing Marketing Government Numbers 317

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. Closing out with a theory.

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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. Merger arbitrage has been a pretty reliable way to reduce portfolio volatility and act like how investors hope fixed income will act. There are expectations embedded in these numbers.

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Management Retirement Planning Portfolio Retirement 98