In this episode we answer emails from Paul, MyContactInfo, Alex and Marvin. We discuss Paul's sample portfolio construction, inherent conflicts of interest in financial media and the financial services industry, new Wisdom Tree Funds GDE and GDMN and more conflicts of interest from popular personal finance personalities involving day care centers and milk shake drinkers. Links: Portfolio Visualizer Analysis Of Paul's Portfolio: Backtest Portfolio Asset Class Allocation (portfoliovisualizer.com) ...
Apr 13, 2022•30 min•Season 2Ep. 167
In this episode we answer emails from Mitchell, Alexi (Dude!), Brian and Daniel. We discuss how to identify similar funds for tax loss harvesting, concentrations and "bad decades", leveraged ETFs in accumulation, using risk-parity portfolios for intermediate accumulations, and withdrawing in retirement from a Golden Butterfly portfolio. And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Additional Links: Portfol...
Apr 10, 2022•27 min•Season 2Ep. 166
In this episode we answer emails from Mike, John, Jeff, Wang, and Ray. We discuss recent performance of long-term treasury bonds and tax loss harvesting them, ValueStockGeek's Weird Portfolio (see episodes 113 and 126), borrowing against your portfolio at Interactive Brokers, how to understand criticism and not get caught up in spurious arguments and insults, and staying focused on we are actually trying to do here with advice from Bruce Lee and Ralph Waldo Emerson. Links: Weird Portfolio Articl...
Apr 06, 2022•33 min•Season 2Ep. 165
In this episode we answer emails from Michelle, Brian, Alan and MyContactInfo. We discuss transitioning from accumulation to decumulation, why TIPS suck (again), consumption smoothing in financial planning and the Allegory of the Cave applied to financial services and media. And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Additional Links: Correlation Analysis of TIPs and Treasuries: Asset Correlations (portf...
Apr 02, 2022•35 min•Season 2Ep. 164
In this episode we read a novella from Karen about how she is constructing her Golden Ratio-style retirement portfolio. Then we review expense and budgeting considerations, asset locations in multiple accounts, drawing down on a portfolio with ten-year IRAs and the basic options for managing asset sales and distributions. And a bit on REITs to boot! Fear? That's the other retiree's problem! Episode 160, where we answered Karen's initial question: Podcast 160| Risk Parity Radio Support the show...
Mar 31, 2022•38 min•Season 2Ep. 163
In this episode we answer emails from Luis from Brazil, Paul, Alexi (His Dude-ness), and MyContactInfo (a different one). We discuss how to analyze Brazilian TIPs and other role-based assets, the trials and tribulations of treasury bonds, the oddly extraordinary performance of property and casualty insurance companies in times like these, tax considerations in fund-picking and what concentrations in particular stock fund sectors do in risk-parity portfolios. And THEN we our go through our weekly...
Mar 27, 2022•32 min•Season 2Ep. 162
In this episode we announce the roll out of the Risk Parity Chronicles blog and website from our listener Justin. We also address emails from MyContactInfo, Spencer, Satoshi and Andre. We discuss an interview of Eugene Fama about the war in the Ukraine, the ETF SAA (ProShares 2x Small Cap), the inherent problems with analyzing gold in a portfolio pre-1971 and related issues, and how to value a property to be inherited. Links: Justin's Risk Parity Chronicles blog and website: Risk Parity Chronicl...
Mar 23, 2022•24 min•Season 2Ep. 161
In this episode we address emails from Thomas, Karen and Jeffrey. We discuss high-performing two-fund portfolios, Bill Bengen and Michael Kitces missiles into the Deathstar's crystal balls and exhaust ports, Karen's portfolio management, an updated and improved shortcut tool for analyses at Portfolio Visualizer and Portfolio Charts, and a query about investing in energy sector stocks. And THEN we scare you with our weekly portfolio reviews of the seven sample portfolios you can find at Portfolio...
Mar 20, 2022•42 min•Season 2Ep. 160
In this episode we begin with a rant about a Think Advisor article about what financial services is all about -- the PARTY CIRCUIT. And the we address emails from the Nameless One, Kyu, Brian and Eric. We discuss the original Permanent Portfolio and modifications to the Golden Butterfly portfolio, the tax feature of the Portfolio Visualizer Monte Carlo simulator, efficient allocations in taxable, tax-deferred and tax protected accounts, considerations surrounding expected returns of asset classe...
Mar 17, 2022•44 min•Season 2Ep. 159
In this episode we address emails from Julie T., Julie H. Jeff and Colin. We discuss the automated trading platform Composer, places to learn about crypto and NFTs, the growth factor in equities, the fund PRWCX, a modified Golden Butterfly portfolio, and using ABLE accounts for the "family match". And THEN we scar you with our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Additional links: The Composer website: Composer – Automated tradi...
Mar 12, 2022•29 min•Season 2Ep. 158
In this episode we give a shout out to our listeners in Ukraine and answer emails from Darren, Jeffrey and Ron. We discuss World Central Kitchen, comparison tools for non-U.S. funds, the Portfolio Visualizer Financial Goals tool, shorter-term use of risk parity portfolios, the disgusting problem of unwinding poorly performing annuity products and some customized risk-parity style portfolios. Links: World Central Kitchen charity for Ukraine: World Central Kitchen (wck.org) Marketwatch example of ...
Mar 09, 2022•24 min•Season 2Ep. 157
In this episode we address emails and messages from Nathan, Michael, MyContactInfo and Visitor 5225. We discuss correlations of international funds vs. small cap value funds, new international small cap value funds, the plusses and minuses of the Accelerated Permanent Portfolio, Aswath Damdaran and the follies of dividend investing, and my email address. Whoa! And THEN we look at monthly distributions and returns of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Add...
Mar 02, 2022•27 min•Season 2Ep. 156
In this episode we address emails from Chris, Kevin from Canada, Davis, Amy and Mark. We discuss RPAR's performance issues, A Canadian Anti-Beta ETF and academic analysis of those strategies, using utilities in the Golden Ratio portfolio, frontier markets and international factor funds, decumulation mechanisms and the Golden Ratio sample portfolio, and DFA-like funds. And THEN we put you to sleep with our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk P...
Feb 26, 2022•31 min•Season 2Ep. 155
In this episode we address emails from Brandon, Scot, Junior, Tony and Chris. We address using leverage in accumulation portfolios, thanks to Scot, how QYLD resembles a 1987 Chrysler LeBaron, the UPRO stock split (again), and sources of gold data. Links: Ben Felix Video About Leverage: Investing With Leverage (Borrowing to Invest, Leveraged ETFs) - YouTube AQR Paper About Leverage: Alternative Thinking Why Do Most Investors Choose Concentration Over Leverage.pdf Portfolio Visualizer Destruction ...
Feb 23, 2022•21 min•Season 2Ep. 154
In this episode we attend to emails from Justin, Mycontactinfo, Ron, Bastian and Dustin. We discuss the UPRO stock split, Dan Pink's Drive and flow states, Laurence Kotlikoff books and the nature of reality and uncertainty, having a look at PICK and EWD, and more variations on the Golden Ratio portfolio. And THEN we put you to sleep with our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Additional links: Mark's Cool Portfolio Shortcutter...
Feb 19, 2022•37 min•Season 2Ep. 153
In this episode we give Mary a break and analyze the ProShares Ultrapro S&P500 ETF, ticker symbol UPRO, using David Stein's Ten Questions to Master Investing, which are: 1. What is it? 2. Is it an investment, a speculation, or a gamble? 3. What is the upside? 4. What is the downside? 5. Who is on the other side of the trade? 6. What is the investment vehicle? 7. What does it take to be successful? 8. Who is getting a cut? 9. How does it impact your portfolio? 10. Should you invest? This fund...
Feb 16, 2022•23 min•Season 2Ep. 152
In this episode we answer emails from Julie T, Justin, Jeffrey, Anderson and the mysterious Mycontactinfo. We discuss Golden Ratio modifications, TIPs vs. commodities and stocks for inflation YTD, asset roles in Risk Parity Portfolios, volatility funds, the good, bad and ugly of dividend investing, ideas for future episodes and Professor Lo's new book (again). And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . A...
Feb 13, 2022•45 min•Season 2Ep. 151
In this episode we answer questions from Steve, Alexi, Mycontactinfo and Brandon. We discuss choosing REITS better than you might with a REIT fund, "inflation winners and losers", the new "In Pursuit of the Perfect Portfolio" book, and the preferred shares fund PFF. Links: VNQ holdings: VNQ - Vanguard Real Estate ETF | Vanguard NAREIT REIT Sectors: REIT Sectors | Nareit REIT correlation matrix: Asset Correlations (portfoliovisualizer.com) Alexi's Article on Assets that Benefit from Inflation: Wh...
Feb 09, 2022•25 min•Season 2Ep. 150
In this episode we answer questions from Alexi, Vaughn, Yamini, Jamie (x2) and Adam. We discuss merger arbitrage as an asset class, the Macro-Allocation Principle applied to an accumulation portfolio, the benefits of investing in insurance companies, tail risk parity and the my favorite science paper and considerations about the lack of really old data. And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Addition...
Feb 05, 2022•40 min•Season 2Ep. 149
In this episode we address emails from Rory (x2), Frank, Andy and Mark. We discuss UPRO issues, where to put gold, role models for retirement, Andy's experiments with UPAR and Mark's wonderful new tool and options strategies for reducing stock market risk. Links: Kitces Analysis of Morningstar Safe Withdrawal Rate Report: Can Morningstar's Withdrawal Rate Report Refute The 4% Rule? (kitces.com) Andy's UPAR Bogleheads Forum Link: The Tobin Two-Fund Portfolio - Bogleheads.org Mark's Most Excellent...
Feb 03, 2022•33 min•Season 2Ep. 148
In this episode we answer emails from Jeff (x2), Popeye, and the anonymous Mycontactinfo (x2). We discuss some feeble attempts at disparagement by former financial media people and put them in context, an essay on taking your money off the table and weathering financial downturns by Bill Bernstein and an free course from MIT. And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Additional links: The Bernstein Essa...
Jan 29, 2022•27 min•Season 2Ep. 147
In this episode we give Mary a break and analyze the ProShares Ultrashort Australian Dollar ETF, ticker symbol CROC, using David Stein's Ten Questions to Master Investing, which are: 1. What is it? 2. Is it an investment, a speculation, or a gamble? 3. What is the upside? 4. What is the downside? 5. Who is on the other side of the trade? 6. What is the investment vehicle? 7. What does it take to be successful? 8. Who is getting a cut? 9. How does it impact your portfolio? 10. Should you invest? ...
Jan 26, 2022•24 min•Season 2Ep. 146
In this episode we pay tribute to Clark Bender and then answer emails from Chris, Roy, Dustin, Daniel and Kevin. We discuss M1 trading issues, PDBC's 2021 returns, reinvesting dividends, sample portfolio returns, what to do about old stocks lying around, Dustin's sample risk parity portfolio, I-bonds, considerations for international funds, Tom Waits, and an improvised reading list. And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios ...
Jan 23, 2022•47 min•Season 2Ep. 145
In this episode we address emails from "Harry", Anderson, Brian and Alan. We discuss transitioning a mostly crypto portfolio to retirement, stablecoins, rebalancing bands, 3-5% flexible withdrawal strategies, MORE stablecoin questions and the basics of transitioning from an accumulation portfolio to a retirement portfolio. Links: Optimal Rebalancing Article: Optimal Rebalancing – Time Horizons Vs Tolerance Bands (kitces.com) Never Pay Taxes Again Article: Never Pay Taxes Again - Go Curry Cracker...
Jan 19, 2022•42 min•Season 2Ep. 144
In this episode we address emails from Patreon Patron Dominic, Javier, Sebastien, David and Ed. We discuss allocating a Golden Butterfly - style portfolio, an application of the Macro-Allocation principle to an accumulation portfolio, a potential gambling problem involving leveraged funds, the psychology of avoiding foolish consistencies and the financial media, and applications of the Monte Carlo simulator and Portfolio Visualizer and the calculators at Portfolio Charts to small cap value based...
Jan 13, 2022•45 min•Season 2Ep. 143
In this episode we answer emails from Dan, Chas and Sam. We discuss some aspects of a new Risk Parity book, the poor performance and problems with TIPs, sub-portfolio constructions, using a correlation analysis to determine which non-U.S. funds to use, which bond funds to use, why you shouldn't pay attention to proposed legislation, more on international funds and how to find the podcast where your email is answered. And THEN we our go through our weekly portfolio reviews of the seven sample por...
Jan 08, 2022•45 min•Season 2Ep. 142
In this episode we invite listener Alexi into the den to discuss a variety of topic on his mind. These include gold, municipal bond fund TFI, assorted risk-parity portfolio constructions, the Big Lebowski, gambling problems and leveraged funds, choices in small cap value funds, problems with the M1 platform and liquidity issues, the relationship between the traditional 60/40 portfolio and the Golden Ratio, asset classes that perform well in various growth/inflation quadrants, and the drawbacks t...
Jan 06, 2022•51 min•Season 2Ep. 141
In this episode we answer emails from Christer, Craig and Scott. We discuss synthetically modelling SWAN on Portfolio Visualizer, how using the MAR metric (and others) reveals superior performance for risk-parity-style portfolios, how NOT to predict future treasury bond rates in the context of the Golden Butterfly portfolio, and the foolish consistencies and nonsensical ravings of those who attempt such things. And THEN we our go through our weekly and monthly (and a bit of annual) portfolio rev...
Jan 02, 2022•40 min•Season 2Ep. 140
In this episode, we answer emails from Adam, Amit, Jeffrey and Kevin. We discuss alternative theoretical withdrawal strategies and tools to model them, practical considerations for withdrawals, milkshakes, the differences between the sample portfolios and their withdrawal percentages, Torqemada, modeling leveraged accumulation portfolios, the ups and downs of growth funds and value funds, and Kevin's desires for More Cowbell. Links: Monte Carlo simulation with a life expectancy withdrawal strate...
Dec 29, 2021•28 min•Season 2Ep. 139
In this episode we address emails from Alexi, Ron, Niklas, Jody and Brian. We discuss levered portfolios, Spinal Tap, the fabulous generosity of our listeners, currency risk, website data improvements, and options for a 20-something with or without leverage. And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio . Additional links: REIT Episodes: Podcast #19 and Podcast #21| Risk Parity Radio Mega REIT Correlation Mat...
Dec 27, 2021•37 min•Season 2Ep. 138
