Re-balance Cycle Reminder All MyPlanIQ’s newsletters are archived here.
For regular SAA and TAA portfolios, the next re-balance will be on Monday, November 18, 2019. You can also find the re-balance calendar for 2019 on ‘Dashboard‘ page once you log in.
As a reminder to expert users: advanced portfolios are still re-balanced based on their original re-balance schedules and they are not the same as those used in Strategic and Tactical Asset Allocation (SAA and TAA) portfolios of a plan.
Please note that we now list the next re-balance date on every portfolio page.
Introducing MyPlanIQ Asset Allocation Composite Strategy
In last week’s newsletter November 11, 2019: Market Indicator And Momentum, we introduced Composite Momentum strategy that, in addition to relative momentum among funds and assets, incorporates a general risk asset market condition indicator to guide risk asset allocation.
In this newsletter, we introduce our new Asset Allocation Composite (AAC) strategy and its use in asset allocation portfolios for brokerage investment accounts (IRA or taxable) and retirement plans such as 401k, 403b and annuity.
As always, we believe in diversification among major assets that include US stocks, international developed market stocks, emerging market stocks, Real Estate (REITs), commodities and bonds. Among the major risk assets (i.e. the assets other than bonds mentioned in the above), we adopt a long term strategic view that’s similar to our Strategic Asset Allocation. We further recognize that US companies, especially large companies, have oversized exposure in oversea or international markets. Thus, US stock allocation actually includes some non-insignificant exposure that needs to be taken into account. Our AAC allocation now incorporates this viewpoint.
We also adopt a more conservative view on commodities asset class. We believe other than gold, other commodities subclasses are not efficiently investable as currently, their exposure has to be through derivatives or so called futures. Technical issues make funds representing these assets not cost effective. We thus don’t recommend commodities allocation for average investors.
Funds in assets
We have long advocated the following in terms of selecting candidate funds for various asset classes (see our article here):
We advocate using ultra low cost index funds for these asset classes. We have discussed the rationale behind this. A simple reason for this (among other factors) is that actively managed stock funds are usually much less predictable as they greatly depend on managers’ subjective investment viewpoints, making them not really suitable for long term investments. Furthermore, more and more efficient stock markets are making actively managed stock funds much harder to outperform index funds. In fact, majority of actively managed stock funds underperform index funds, based on many academic studies on long running data.
Recently, (smart) factor ETFs have become more mature and have shown great potential (see November 4, 2019: Factor ETF Rotation, for example). Though some of these index based funds are not really passive per se, they nevertheless are based on a well defined set of rules (or quantitative), free of subjective human opinions. These factor ETFs are utilized in some of our advanced portfolios.
Bonds (fixed income):
On the other hand, for fixed income (bonds), we believe the outperformance persistence by some good bond managers is much more consistent and greater, especially for intermediate term bond funds. It’s also possible to use a momentum based strategy to periodically rotate/select a fund to achieve even better returns with lower risk. Our long running total return bond fund portfolios on Brokerage Investors page have consistently outperformed index bond funds and the excellent total return bond funds used as candidate funds. We have written extensively on these types of portfolios (for example, see August 28, 2017: Total Return Bond Fund Portfolios: Where Do They Fit?).
ETFs or mutual funds
For stock assets, we generally prefer index ETFs over index mutual funds, though mutual funds are also workable. The reasons are as follows:
- Stock index ETFs now possess lower expense ratios than their mutual fund counterparts. This is evident in Vanguard’s index ETFs and its index mutual funds.
- Stock index ETFs have no minimum holding period restriction, unlike mutual funds. Many brokerages impose a minimum 3 month holding period for mutual funds (TD Ameritrade is even more extreme, having 3 month minimum holding requirement). This can sometimes hinder our risk exposure adjustment in a fast changing market.
- ETFs can now be traded commission free in many major brokerages.
- Major stock index ETFs now have large liquidity, thus much lower premium/discount over their net asset values.
Of course, for some investors, unlike mutual funds whose prices are set after market close, it’s still a hassle to have to pay attention to ETFs’ intraday prices when making a trade. This can become a source of distraction and/frustration. For this, mutual funds can be still useful.
Our AAC based portfolios will look once a month to decide whether to rebalance. Notice that not every month a portfolio needs to rebalance. This depends on the candidate funds in a portfolio. Our general purpose MPIQ Core ETFs AAC portfolios (see below), for example, average only 4 trades a year.
At a rebalance time, the strategy will decide whether to perform risk asset exposure change (decrease or increase) as well as individual fund selection. The risk asset (stock) exposure decision is based on our market indicator.
Our AAC always makes rebalance decision at the end of a month and investors will perform rebalance orders on the first trading day of the next month. It no longer uses our re-balance calendar that was mainly designed to accommodate the minimum 30 days holding period requirement in the past. We are phasing out this rebalance calendar in the near future.
Risk asset exposure and fund selection
Our AAC based portfolios can dynamically reduce or increase risk asset exposure based on our our market indicator. As stated in the previous newsletter November 11, 2019: Market Indicator And Momentum, our market indicator makes infrequent such change: for example, since 1996, it only decided to change exposure five times. The main purpose of such risk asset exposure change is to reduce or avoid large portfolio loss during a severe market downturn. As we stated many times, holding a diversified stock index fund for a very long period of time can in general result in an inflation beating return (of course, we want to emphasize again here the term ‘a very long period of time’, usually means 20 years or longer). We thus make a conscious decision to be conservative in terms of reducing stock exposure.
Once asset allocations are decided, our strategy selects funds within each asset class. The method is still momentum based. Momentum based fund rotation/selection can result in further return improvement.
AAC portfolios for brokerages
One of the main criticisms we received in the past from our users is that we provide too many choices. Investors are thus confused and have to spend extra time to decide which ones to choose. While such many choice approach might suit some expert or advanced investors, many are frustrated.
We now drastically trim down the number of choices for brokerage investors. In fact, we will offer only one Core ETFs based general allocation portfolios. As before, users can customize a new portfolio based on their personal risk profile. However, these portfolios are all based on a set of selected ETFs. As it stands today, these ETFs are as follows (note, from time to time, we might change these ETFs lineup infrequently if there is a need):
- US Stocks: Vanguard Total Stock Market ETF (VTI)
- International Stocks: Vanguard FTSE Developed Markets Stock (VEA)
- Emerging Market Stocks: Vanguard Total Stock Market ETF (VWO)
- Real Estate: Vanguard REIT Index ETF (VNQ)
- Fixed Income:
|Intermediate-Term Bond||VCIT||Vanguard Intermediate-Term Corp Bd ETF|
|Intermediate-Term Bond||BOND||PIMCO Total Return Active ETF|
|High Yield Muni||HYD||Market Vectors® High-Yield Municipal ETF|
|Muni National Interm||MUB||iShares National AMT-Free Muni Bond|
|Intermediate-Term Bond||FBND||Fidelity Total Bond ETF|
|Intermediate-Term Bond||BND||Vanguard Total Bond Market ETF|
|Intermediate-Term Bond||VMBS||Vanguard Mortgage-Backed Securities ETF|
|LONG GOVERNMENT||IEF||iShares 7-10 Year Treasury Bond|
|Intermediate-Term Bond||TOTL||SPDR® DoubleLine Total Return Tact ETF|
The candidate ETFs in fixed income are from some excellent total return bond ETFs (that have their mutual fund counterparts such as PIMCO’s BOND ETF vs. PIMCO’s PTTAX) and some index bond funds. They are the basis of the ETF fixed income portfolio we featured in September 30, 2019: Boosting Bond ETF Portfolio’s Return With Muni Bond ETFs. Our intention is to construct a comparable/competitive bond portfolio to replace total return bond fund portfolios as mentioned in October 29, 2018: Taxable Total Return Bond Plus Muni Bond Fund Based Portfolios.
The following are the returns for moderate (risk profile 40, i.e. at most 60% in stocks) and most aggressive (all stocks) portfolios:
|1Yr AR||3Yr AR||5Yr AR||5Yr Sharpe||10Yr AR||15Yr AR|
|MPIQ Core ETFs Asset Allocation Composite Moderate||18.7%||14.9%||9.9%||7.0%||0.93||8.2%||7.8%|
|MPIQ Core ETFs Asset Allocation Composite Most Aggressive (All Stocks)||23.9%||15.7%||12.0%||8.1%||0.67||10.0%||9.8%|
|VFINX (Vanguard 500 Index Investor)||26.6%||16.3%||14.7%||10.9%||0.76||13.1%||8.8%|
|VBINX (Vanguard Balanced Index Inv)||18.8%||14.0%||10.1%||7.7%||0.89||9.4%||7.3%|
We want to caution here that since the fixed income ETFs have short history, their meaningful data should be really as those highlighted, i.e. up to last 5 years. As a comparison and for benchmarking purpose, we also construct a plan that consists of Vanguard stock index mutual funds and total return bond and muni bond funds as mentioned in October 29, 2018: Taxable Total Return Bond Plus Muni Bond Fund Based Portfolios. Since mutual funds have much longer history, the following table shows their returns since 2001:
|Ticker/Portfolio Name||1Yr AR||3Yr AR||5Yr AR||10Yr AR||15Yr AR||Since 1/1/2001|
|MPIQ Core Asset Mutual Funds Asset Allocation Composite Moderate||13.1%||9.5%||7.1%||9.6%||10.1%||11.5%|
|MPIQ Core ETFs Asset Allocation Composite Moderate||14.9%||9.9%||7.0%||N/A||N/A||N/A|
|VFINX (Vanguard 500 Index Investor)||16.3%||14.7%||10.9%||13.1%||8.8%||10.8%|
|VBINX (Vanguard Balanced Index Inv)||14.0%||10.1%||7.7%||9.4%||7.3%||7.1%|
Since 2001 chart:
Detailed year by year comparison >>
- MPIQ Core Asset Mutual Funds Asset Allocation Composite Moderate obeys minimum 3 month holding period requirement for all the mutual funds.
- This portfolio can serve as a benchmark reference as it has long history since 2001.
- It has outperforms both VBINX (60% US stocks/40% bonds) and VFINX (S&P 500) by some big margin, especially since 2001.
- It has much less drawdown or interim loss: 13.8% vs. VFINX’s 55% or VBINX’s 36%.
- On the other hand, for the past 5 years, the ETF counterpart MPIQ Core ETFs Asset Allocation Composite Moderate compares very favorably with the mutual fund one.
We thus feel comfortable to use the Core ETFs portfolios for general or basic subscribers. However, investors can still choose to use mutual fund portfolios if needed. We will have a more in depth discussion on this in the next newsletter. Users interested in this can find this portfolio on our Brokerage Investors page or through Get Started Now on our home page.
Finally, for 401k and other retirement or predefined plans, our AAC strategy has been deployed and users can customize a new AAC portfolio to follow.
In the near future, we will make more changes on our website and also discuss in more depth on how to use our model portfolios. Stay tuned.
US companies continued to deliver better than expected (albeit lower) earnings: As of last Friday, Factset shows that the blended earnings decline of S&P 500 for Q3 2019 is -2.3%, better than even last week’s -2.7%. US large cap stock indexes are all at record highs. It does look like investors’ risk appetite has also improved in a generally favorable stock season. Again, we want to emphasize markets can change suddenly in a high valuation and extended stock market rise environment. We call for staying the course and being risk conscious.
For more detailed asset trend scores, please refer to 360° Market Overview.
In terms of investments, even after the recent retreat, U.S. stock valuation is still at a historically high level and a bigger correction is still waiting to happen. It is thus not a good time to take excessive risk. However, we remain optimistic about U.S. economy in the long term and believe much better investment opportunities will arise in the future.
We again would like to stress for any new investor and new money, the best way to step into this kind of markets is through dollar cost average (DCA), i.e. invest and/or follow a model portfolio in several phases (such as 2 or 3 months) instead of the whole sum at one shot.
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–Thanks to those who have already contributed — we appreciate it.
- November 11, 2019: Market Indicator And Momentum
- November 4, 2019: Factor ETF Rotation
- October 28, 2019: Multi-factor ETFs vs. Equal Weight Multi-Factor Portfolios
- October 21, 2019: Multi-factor ETFs: Value And Momentum
- October 14, 2019: Low Volatility Factor ETFs
- October 7, 2019: Zero Commission Era Has Arrived, Is It Really That Good?
- September 30, 2019: Boosting Bond ETF Portfolio’s Return With Muni Bond ETFs
- September 23, 2019: Value ETFs
- September 16, 2019: Factor ETFs
- September 9, 2019: Momentum Factor Stock ETFs
- August 26, 2019: Employer 401k Match: Yet Another Free Lunch Not To Be Missed
- August 19, 2019: PIMCO Income Fund and Other Total Return Bond Funds Update
- August 12, 2019: Aggressive Fixed Income Portfolios?
- August 5, 2019: Long Term Investment Strategies And Short Term Market Noises
- July 29, 2019: Fixed Income Portfolios In A Lower Yield Environment
- July 22, 2019: Core Satellite Portfolios Balance Fluctuation
- July 15, 2019: Quality Stock Factor ETFs
- July 8, 2019: Surprise! Brokerages Make Most From Your Cash, Not Commissions
- July 1, 2019: Utilities Sector Review
- June 24, 2019: Asset Allocation Funds Review
- June 17, 2019: Latest Performance Comparison Among Several Advanced Strategies
- June 10, 2019: Money Market And Ultra Short Term Bond Funds
- June 3, 2019: What We Can Learn From The Seasonality Strategy
- May 20, 2019: Morningstar Portfolio Manager Awards
- May 13, 2019: Total Return Bond ETFs Review
- May 6, 2019: Global Allocation Revisited
- April 29, 2019: Asset Trend Review
- April 22, 2019: The Current State Of Fixed Income
- April 15, 2019: The Importance Of Fixed Income Returns For Retirement Spending
- April 8, 2019: Newsletter Collection Update
- April 1, 2019: S&P 500 As A Business
- March 25, 2019: Health Care Sector Review
- March 18, 2019: The Risk Of Stock Investing
- March 11, 2019: Consumer Staples Sector Review
- March 4, 2019: Global Stock Valuation Update
- February 25, 2019: ‘Bad’ Tactical Strategy
- February 11, 2019: “Best” Balanced Fund And Portfolios Revisited
- February 4, 2019: Cash And Money Market Funds: Interests And Safety
- January 28, 2019: Fixed Income Review
- January 14, 2019: Tactical Asset Allocation Portfolio Review
- January 7, 2019: Global Strategic Asset Allocation Portfolio Review
- December 17, 2018: Robinhood’s ‘Revolution’ Or Gimmick
- December 10, 2018: How Defensive Are REITs?
- December 3, 2018: Conservative Core Satellite Portfolio
- November 26, 2018: Allocation Mutual Fund Review
- November 19, 2018: Is The Recent Downtrend Sustainable?
- November 12, 2018: The Staggering Low Interest Rates From Big Banks
- November 5, 2018: The ‘Right’ Or ‘Wrong’ Decision
- October 29, 2018: Taxable Total Return Bond Plus Muni Bond Fund Based Portfolios
- October 22, 2018: DoubleLine Shiller CAPE 10 Based Fund Review
- October 15, 2018: Newsletter Collection Update
- October 8, 2018: Asset Trend Review
- October 1, 2018: Taxable vs. Tax Exempt High Yield Bonds
- September 24, 2018: High Yield Bonds In A Rising Rate Environment
- September 10, 2018: Value, Growth And Blend Stock Style Investing
- August 27, 2018: Money Market ETFs?
- August 20, 2018: How Momentum Investing Stacks Up?
- August 13, 2018: Total Return Bond ETF
- August 6, 2018: Fidelity Zero-Fee Index Funds
- July 30, 2018: Tax Efficient Portfolios
- July 23, 2018: Municipal Bond Funds And Portfolios
- July 16, 2018: A Guide To Conservative Portfolios
- July 9, 2018: Conservative Allocation Mutual Funds Based Portfolios
- July 2, 2018: Small Cap Stocks For The Long Term
- June 25, 2018: What Can We Learn From GE’s Removal From Dow Jones Index?
- June 18, 2018: The ‘Best’ Balanced Portfolio Continues To Excel
- June 11, 2018: Is 10 Year Long Enough For Portfolio Comparison?
- June 4, 2018: Action Plan: Risk Review For Investments
- May 21, 2018: Rising Rates, Consumer Staples And Stock Index
- May 14, 2018: Newsletter Collection Update
- May 7, 2018: Money Market Fund Taxonomy
- April 30, 2018: Momentum Investing Review
- April 23, 2018: Commodities In Current Environment
- April 16, 2018: Municipal Bonds As A Fixed Income Asset Class
- April 9, 2018: Exponential Or Compounding Nature In Investing
- April 2, 2018: Inside Of The Stock Chaos
- March 26, 2018: Total Return Bond Update
- March 19, 2018: Treasury Bills vs. Brokered CDs
- March 12, 2018: Defensive Conservative Portfolio Review
- March 5, 2018: Warren Buffett’s Advices
- February 26, 2018: Pros And Cons of Strategic And Tactical Portfolios In 2018
- February 12, 2018: Trend Review
- February 5, 2018: Market Selloff And Long Term Investing
- January 29, 2018: The New Addition To Our Total Return Bond Fund Candidates
- January 22, 2018: Where Are Bonds Heading?
- January 15, 2018: Tactical Portfolios Review
- January 8, 2018: Strategic Portfolios Review
- December 18, 2017: Record Highs And Risk
- December 11, 2017: Cash Return And Interest Rate Update
- December 4, 2017: Mutual Fund Star Ratings: Are They Useful?
- November 20, 2017: Thankful And Mindful
- November 13, 2017: Is This A Good Time For Retirees Or Would Be Retirees?
- November 6, 2017: Newsletter Collection Update
- October 30, 2017: Rising Interest Rates
- October 23, 2017: A Primer For Portfolios
- October 16, 2017: REITs As An Asset Class
- October 9, 2017: Conservative Portfolios Revisited
- October 2, 2017: The Role of Short Term Bond Funds
- September 25, 2017: Fees In Cash Investments
- September 18, 2017: Conservative Portfolios Review
- September 11, 2017: International Diversification Effect
- September 4, 2017: Invest And Speculate Revisited
- August 28, 2017: Total Return Bond Fund Portfolios: Where Do They Fit?
- August 21, 2017: Portfolio Performance: A Walk In The Past
- August 14, 2017: Fidelity Commission Free ETFs Update
- August 7, 2017: I Didn’t Learn Anything — Mistake vs. Temporary Underperformance
- July 31, 2017: Asset Classes And Fund Choices: A Primer
- July 24, 2017: Total Return Bond Fund Portfolios And Cash
- July 17, 2017: Long Term Stock Holding Periods For Retirement
- July 10, 2017: Half Year Asset Trend Review
- June 26, 2017: How To Beat The Best Balanced Allocation Fund
- June 19, 2017: Newsletter Collection Update
- June 12, 2017: A Mixed Bag Performance of Momentum Investing
- June 5, 2017: How To Start A New Portfolio
- May 29, 2017: Alternative Assets And Their Role In Portfolios
- May 22, 2017: Summer Seasonality And Portfolio Management
- May 15, 2017: Cash: Banking Or Investing?
- May 8, 2017: Holding Period of Long Term Timing Portfolios
- May 1, 2017: Debate on Risk vs. Volatility
- April 24, 2017: The Long Term Stock Market Timing Return Since 1871
- April 17, 2017: Risk vs. Volatility: Long Term Stock Market Returns
- April 10, 2017: Total Return Bond ETFs And Portfolios
- April 3, 2017: Quarter End Asset Trend Review
- March 27, 2017: Practical Consideration For IRAs And 401k Accounts
- March 20, 2017: Fund Fees: That’s (Still) Outrageous
- March 13, 2017: Long Term Stock Valuation Review
- March 6, 2017: Asset Classes for Retirement Investments
- February 27, 2017: Fidelity Total Bond Fund Review
- February 20, 2017: Long Term Stock Timing Based Portfolios And Their Roles
- February 13, 2017: Alternative Investment Portfolios Review
- February 6, 2017: Tax Free Municipal Bond Investments Review
- January 30, 2017: Brokerage Specific Conservative Portfolios
- January 23, 2017: Fixed Income Portfolio Review
- January 16, 2017: Long Term Trend Following Portfolio Review
- January 9, 2017: Tactical Asset Allocation Review
- January 3, 2017: Strategic Asset Allocation Review
- December 12, 2016: Enhanced Index Funds
- December 5, 2016: Review Of Broad Base Core Mutual Funds For Brokerages
- November 28, 2016: Core Index ETFs Review
- November 21, 2016: International Exposure Of U.S. Large Companies
- November 14, 2016: Asset Trends After The Election
- November 7, 2016: Rising Rate And Current Bond Trend
- October 31, 2016: Economy Power And Long Term Stock Returns
- October 24, 2016: Current Commodity Trend And Managed Futures
- October 17, 2016: Investment Mistakes And Good Or Bad Investment Strategies
- October 10, 2016: Momentum Investing Review
- October 3, 2016: Survey & Feedback
- September 26, 2016: Fixed Income Investing: Actively Managed Funds vs. Index Funds
- September 19, 2016: Stock Investing: Actively Managed Funds vs. Index Funds
- September 12, 2016: Newsletter Update
- September 5, 2016: Overvalued Markets And Long Term Timing Strategies
- August 29, 2016: Your 401K Finally Draws Attention
- August 22, 2016: Inflation Protected Securities TIPS For Current Overvalued Markets
- August 15, 2016: Risk On: Emerging Market Stocks And Small Cap Stocks
- August 8, 2016: Portfolio Construction Using Stock ETFs And Bond Mutual Funds
- August 1, 2016: Adding Value To Your Own Investments
- July 25, 2016: Tactical Asset Allocation Funds Review
- July 18, 2016: Strategic Asset Allocation & Lazy Portfolio Review
- July 11, 2016: Asset Trend Review
- June 27, 2016: Secular Cycles For Tactical And Strategic Investment Strategies
- June 20, 2016: A World of Debt
- June 13, 2016: Managed Futures For Portfolio Building
- June 6, 2016: Newsletter Summary
- May 30, 2016: Swensen Portfolio And Permanent Portfolios
- May 23, 2016: AAII Article And Some Web Changes
- May 16, 2016: The PIMCO (Dis)Advantages
- May 9, 2016: Boost Your Dull Summer Investments
- May 2, 2016: Low Cost Index Fund Investing
- April 25, 2016: Tax Free Municipal Bond Funds & Portfolios
- April 18, 2016: Asset Class Trend Review
- April 11, 2016: Construction of Sound And Conservative Portfolios
- March 28, 2016: Total Return Bond ETFs Review
- March 21, 2016: Small And Large Company Stock Performance In Different Economic Expansion Cycles
- March 14, 2016: Are Tactical And Timing Strategies Losing Steam?
- March 7, 2016: Defined Maturity Bond Fund Analysis
- February 29, 2016: Smart Strategic Asset Allocation Rebalance When Market Trend Changes
- February 22, 2016: Be Cash Smart
- February 15, 2016: Bond ETF Portfolios
- February 8, 2016: Newsletter Collection Update
- February 1, 2016: Total Return Bond Fund Portfolios In A Volatile Period
- January 25, 2016: Alternative Portfolios Review
- January 18, 2016: Strategic Asset Allocation: A Cautious Outlook
- January 11, 2016: Review Of Trend Following Tactical Asset Allocation
- January 4, 2016: What Worked And Didn’t In 2015
- December 21, 2015: Distressed Assets
- December 14, 2015: High Yield Bonds And Their Correlation With Stocks
- December 7, 2015: Diversification And Global Allocation
- November 30, 2015: Investors and Speculators Combined
- November 23, 2015: Active Stock Fund Performance Consistency
- November 16, 2015: Permanent, Risk Parity And Alternative Portfolios Review
- November 9, 2015: Broad Base Core Mutual Fund Review
- November 2, 2015: Broad Base Index Core ETFs Review
- October 26, 2015: Total Return Bond Fund Review
- October 19, 2015: Advanced Portfolio Review
- October 12, 2015: What About Commodities?
- October 5, 2015: Core Satellite Portfolios In A 401k Account
- September 28, 2015: Risk Managed Strategic Asset Allocation Portfolios Revisited
- September 21, 2015: Quest For The Best Investment Strategy
- September 14, 2015: Core Satellite Portfolios In Market Turmoil
- September 7, 2015: Market Rout Creates An Opportunity to Reposition Your Portfolios
- August 31, 2015: Review of Asset Allocation Funds and Portfolios
- August 24, 2015: Market Rout And Your Portfolios
- August 17, 2015: ETF or Mutual Fund Based Portfolios
- August 10, 2015: Updated Newsletter Collection
- August 3, 2015: Slippery Asset Trends
- July 27, 2015: Performance Dispersion Among Momentum Based Portfolios
- July 20, 2015: Global Balanced Portfolio Benchmarks
- July 13, 2015: Pain in Tactical Portfolios
- July 6, 2015: Fixed Income Total Return Bond Funds In Strategic Asset Allocation Portfolios
- June 29, 2015: Core ETF Commission Free Portfolios
- June 22, 2015: Secular Asset Trends
- June 15, 2015: Giving Up Bonds?
- June 1, 2015: Summer Blues?
- May 26, 2015: Cash, Bonds and Stocks In A Rising Rate Environment
- May 18, 2015: Portfolio Update
- May 11, 2015: Pain in Fixed Income?
- May 4, 2015: The Balanced Stock and Long Term Treasury Bond Portfolios
- April 27, 2015: Long Term Treasury Bond Behavior
- April 20, 2015: 529 College Savings Plan Rebalance Policy Change
- April 13, 2015: Total Return Bond Funds As Smart Cash
- April 6, 2015: The Low Return Environment
- March 30, 2015: Brokerage Specific Core Mutual Fund Portfolios 2
- March 23, 2015: Investment Arithmetic for Long Term Investments
- March 16, 2015: Brokerage Specific Core Mutual Fund Portfolios
- March 9, 2015: Newsletter Collection Update
- March 2, 2015: Total Return Bond ETFs
- February 23, 2015: Why Is Global Tactical Asset Allocation Not Popular?
- February 16, 2015: Where Are Permanent Portfolios Going?
- February 9, 2015: How Have Asset Allocation Funds Done?
- February 2, 2015: Risk Management Everywhere
- January 26, 2015: Composite Portfolios Review
- January 19, 2015: Fixed Income Investing Review
- January 12, 2015: How Does Trend Following Tactical Asset Allocation Strategy Deliver Returns
- January 5, 2015: When Forecast Fails
- December 22, 2014: Long Term Asset Returns: How Long Is Long?
- December 15, 2014: Beaten Down Assets
- December 8, 2014: Implementing Core Asset Portfolios In a Brokerage
- December 1, 2014: Two Key Issues of Investment Strategies
- November 24, 2014: Holiday Readings
- November 17, 2014: Retirement Spending Portfolios Update
- November 10, 2014: Fixed Income Or Cash
- November 3, 2014: Asset Trend Review
- October 27, 2014: Investment Loss, Mistakes And Market Cycles
- October 20, 2014: Strategic Portfolios With Managed Volatility
- October 13, 2014: Embrace Volatility
- October 6, 2014: Tips For 401k Open Enrollment
- September 29, 2014: What Can We Learn From Bill Gross’ Departure From PIMCO?
- September 22, 2014: Why Total Return Bond Funds?
- September 15, 2014: Equity And Total Return Bond Fund Composite Portfolios
- September 8, 2014: Momentum Based Portfolios Review
- September 1, 2014: Risk & Diversification: Mint.com Interview
- August 25, 2014: Remember Risk
- August 18, 2014: Consistency, The Most Important Edge In Investing: Tactical Case
- August 11, 2014: What To Do In Overvalued Stock Markets
- August 4, 2014: Is This The Peak Or Correction?
- July 28, 2014: Stock Musings
- July 21, 2014: Permanent Portfolios & Four Pillar Foundation Based Framework
- July 14, 2014: Composite Portfolios Review
- July 7, 2014: Portfolio Behavior During Market Corrections
- June 30, 2014: Half Year Brokerage ETF and Mutual Fund Portfolios Review
- June 23, 2014: Newsletter Collection Update
- June 16, 2014: There Are Always Lottery Winners
- June 9, 2014: The Arithmetic of Investment Mistakes
- June 2, 2014: Tips On Portfolio Rebalance
- May 26, 2014: In Praise Of Low Cost Core Asset Class Based Portfolios
- May 19, 2014: Consistency, The Most Important Edge In Investing: Strategic Case
- May 12, 2014: How To Handle An Elevated Overvalued Market
- May 5, 2014: Asset Allocation Funds Review
- April 28, 2014: Now The Economy Backs To The ‘Old Normal’, Should Our Investments Too?
- April 21, 2014: Total Return Bond Investing In The Current Market Environment