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Anybody who attempts to discredit any person/concept by attacking grammar, punctuation or caps/bolds without providing a logical rebuttal to the subject material, has objectively lost the dialectic.
For me, no magic number.
One Fund: VWIAX
Two Funds: VWIAX and PRWCX
Three Funds: VWIAX, PRWCX, PIMIX
Four Funds: VWIAX, PRWCX, GLIFX, PIMIX
Five Funds: VWIAX, PRWCX, GLIFX, PIMIX, DSEEX
Six Funds: VWIAX, PRWCX, GLIFX, PIMIX, DSEEX, SIGIX
Seven Fund…
Please take a look at page 25 of this Article. I am not attacking Waggoner, but I prefer a quantitative approach which includes risk parameters. No worries.
Kevin
The Israelsen analysis is quantitative and he clearly shows the added benefit of the sequential addition of developed foreign equities. Waggoner's superficial analysis disregards risk parameters, which clearly benefit from the addition of developed …
@davidrmoran,
I reread the Waggoner Article, and I think that one must dig a little deeper than he does.
Ferri's Take
Israelsen's Quantitative View (1970-2006)
Israelsen's Analysis 2001-2015
Forbes Article on the Israelsen Model
From the Isra…
@TSP_Transfer,
Thanks for the tip on CCAPX, which is an interesting global allocation fund, but really not in the ALT space. The CCAPX manager, Ryan Caldwell, served as the assistant manager of WASAX when it was on top of the world (1/2007 - 6/2014…
If you don't own PRWCX, TRP may be willing to allow your in-laws to gift you one share and thereby enable you to establish a position in this fund. I have done this before for friends and relatives to allow them access to a fund closed to new inves…
@davidrmoran,
I listen to Meb Faber's podcasts, which are flat-out excellent. He is very down to earth and in no way is he influenced by celebrity. In show #36, he was particularly bullish on non-US developed equities, as they have lagged US equit…
@FundStudent, Thanks for the interview link. I agree with everything JG said, as equities are likely to go higher, and may stall when the 10YR note gets to 3%. JG usually has a good feel for the FI and equity markets.
Kevin
@Mitchelg,
Sorry, but I don't see anything compelling about this fund. Right now, the only ALTish fund on my radar that I would buy would be QLEIX. That's it.
Kevin
@davidrmoran,
According to a test trade I just made in my TDAmeritrade retirement account, DSEUX is available for a $5K minimum with a TF. Since I am grandfathered into the ThinkorSwim commission structure, the TF is only $15 each for buys and sell…
@mrc70,
As I see it, you have a much better than average selection of funds in your retirement plan. With your selection, I would probably pick one fund and use my other retirement accounts to complete the portfolio.
I am a federal employee, and …
Evermore Global Value (EVGIX/EVGBX) looks interesting, but the expenses that investors actually pay according to the latest M* Prospectus are 1.53% and 1.78%, respectively. Of course, these actual expenses cannot be found on the M* front pages or e…
Most active managers think they are innovative, special, gifted, and above average, but they aren't. SPIVA is not a "noisy repeat" of jack squat !
SPIVA is fact. SPIVA is truth. The truth will set you free.
In truth, many active managers try …
Why Most Equity Mutual Funds Underperform and How to Identify Those that Outperform
The Efficient Fund Hypothesis
@LewisBraham, I totally agree that there are a very limited number of active managers that are worth investing in, including:
PRWCX,…
The SPIVA data are real and should not be ignored:
SPIVA
Currently we own these passive and smart beta ETFs/funds: VXF (equivalent to TSP S fund which we own), DSEEX, SPHD and PXH.
Kevin
Top article in this Google SEARCH
I will fondly remember the humble VF before he became famous and quoted in a global publication. We will likely be an easy to forget footnote in the life of VF !
Kevin
@msf,
"if you get entertainment value out of these funds, that's fine. Otherwise it's a lot of research work for something that will not make a noticeable impact on your portfolio."
A-fricken-Men !! Well stated.
Kevin
@davidrmoran, Thanks for this fantastic article:
"Es-cape-ing from Overvalued Sectors: Sector
Selection Based on the Cyclically Adjusted
Price-Earnings (CAPE) Ratio"
Kevin
@davidrmoran,
υπερηφάνεια είναι η ρίζα όλων των κακών
"Sin is the worst evil a person can commit in one’s life. Sin can broadly fall into the following categories or what are called the “Seven Deadly Sins”: Pride, Gluttony, Greed, Lust, Sloth, Wra…
@davidrmoran,
Thanks for the Waggoner article. Here is an article in support of buying foreign equities:
The Case for Buying Foreign Stocks Now
Right now, I have the greatest confidence in the US economy, so most of our portfolio is positioned th…
@Sven, I agree that SFGIX/SIGIX is a safer EM play than GVAL. Also, GVAL has inadequate average daily trading volume for our portfolio. We continue to own a small position in SIGIX.
@MikeM, I agree that FMIJX is the best LC Foreign fund out there a…
@openice,
OK, let me be clear. The current AUM is a measly $53M for a fund which began collecting assets 8 months ago in May 2016. Like I said, this fund will not close to new investors anytime soon.
Also, Mr. Deshpande only has a paltry $100K or…
@Javelina,
I am a fairly aggressive investor, but I have yet to see any evidence that owning a position in Frontier Markets is an essential and beneficial part of a diversified global portfolio. Personally, we own SIGIX and PXH in the EM equity s…
I see absolutely no reason to be an early buyer of this fund. Better to watch the fund to see how it behaves, and wait for a sufficient track record. Centerstone is likely looking for AUM like First Eagle, so this fund will not close to new investor…
In the Foreign SCV/MCV space, investors may want to check out BISMX ($100K min. at Fidelity, other brokerages), SBSIX ($100 minimum at Scottrade) and FNDC.
Kevin
If the manager considers his fund to be an "all-cap world fund," then in that space, I would consider VMNVX to be far more attractive in terms of performance and expenses.
Kevin
@VintageFreak, I use M* data and nothing else. So far, I am not convinced that M* is an objective, sponsors-be-damned source of analysis. Just use their data and move along as I do.
That being said, at the end of a 30+ year bull market in bonds, I…
