In Plus Episode 402, we discuss purchasing individual Treasury Inflation Protection Securities versus TIPS ETFs. We look at how bonds are taxed and how to tax-adjust municipal and corporate bonds. Finally, we compare return on investment with time-weighted and dollar-weighted returns. … [Read more...]
374 Plus: Portfolio Trade, A New Risk Parity ETF, and the Moonfare Private Equity Platform
In Plus Episode 374, David reviews why he reduced his exposure to Ether by half. We analyze the Ultra Risk Parity ETF (UPAR). Finally, we take a look at the Moonfare Private Equity platform that allows individual investors to invest in institutional leveraged buyout and venture capital funds. … [Read more...]
274 Plus: Why Average Investor Return Calculations Are Flawed and A Member Portfolio Review
In Plus episode 274 for the week of October 26, 2019 we compare time-weighted returns with dollar-weighted returns and how the sequence of returns has led to the conclusion that the average investor significantly underperforms the market, when in fact much of the "underperformance" had nothing to do with the actions of investors. We also review a member's asset allocation and how the Plus Allocation model spreadsheet can be customized for member use. … [Read more...]
180: Can You Outperform Harvard’s Endowment?
Why have college endowments underperformed a simple three fund Vanguard portfolio? Should you mirror a simple two or three fund portfolio or invest more like an endowment with multiple asset classes? Photo by Bill Badzo In this episode you’ll learn: How have college endowments underperformed a simple three Vanguard fund portfolio.What's the difference between time weighted and dollar weighted returns.Why are college endowments shifting more of their portfolios to alternative … [Read more...]