Infact real return is all positive for all countries in the dataset of DMS 2016 (Global Investment Returns Sourcebook 2016). There are two...
I posted in this another thread. https://www.elitetrader.com/et/threads/what-are-the-arguments-against-index-investing.297648/page-9 [ATTACH]...
^agree. I just looked at Midcap value (which is mostly his holdings) and T-bill rates from 1986. Mid-cap value premium over Tbill during this...
His alpha is not statistically insignificant means that it can be duplicated theoretically. He has advantage that few others does not have...
http://www.nber.org/papers/w19681.pdf Page 6 of this paper. Again this is not knock against him and as i mentioned before, he did it before...
There always will be couple of exceptions. Medallion fund by Renaissance is another one of those exception, but this is closed and data is hard...
Basic two ways to evaluate any security is standard deviation and beta. But as you aware there are other ways to measure risk especially for...
In your previous post, you mentioned investors with enough resources and with proper research some how can achieve superior returns. Well Hedge...
Agree on closet indexers and disagree on every thing else. We can agree hedge funds have lot more resources than average joe. Here are their...
It is my take away from the report. Others can take away what ever they want. I think it was first published 15 years ago and I look forward to...
It does not matter whether you did it or some well informed, highly educated portfolio manager does it. Any deviation from indexing is active...
Disagree. This is the tired old argument of the active investing. I posted the SPIVA report upthread. [ATTACH] Investing is a long game. When...
Just to be specific, 10 year treasury does not have 10 year duration. Currently from WSJ figures 10 year treasury has 8.75 years of duration and...
"Triumph of the Optimists" by Dimson, Marsh et al is wonderful book for financial history. For limited time, its close cousin "Financial Market...
Dow and Nikkei is flawed index (price weighted, not cap weighted). Even considering that diversified Japanese investor would have come out ahead...
S&P publishes it. Here is the 2016 data. http://media.spglobal.com/documents/SPGlobal_Indices_Article_3+April+2017_US+SPIVA+Year+End+2016.pdf
Agree. Only reason against this argument is that it neglects tax loss harvesting. If the same world index (VT) is split into similar weights...
Question of this thread is pretty vague. There are more indicies than stocks. So which index investing?...
Exactly. Investors who did dollar cost average during any financial crisis (even during US depression or Japanese bubble) would have come out...
I don't think you stress tested for black swan event. 12 month long term put IV does not explode during the time of stress, what explodes is IV...
Separate names with a comma.