We review various portfolios including permanent portfolios, risk parity portfolios, some closed end portfolios and high yield income portfolio. 

Using both Strategic and Tactical Asset Allocation strategies in different market conditions based on stock market valuation can increase returns while controlling loss. 

A long timer in tactical asset allocation shares his wisdom with us. 

We make several important observations for the 1987 style stock market crash and discuss its implications on our investment strategies. 

We announce a new service TradeAdminIQ and discuss brokerage account management. 

We discuss the bond ladder ETF portfolios in depth for better cash management. 

We classify previous newsletters into several categories and highlight a selected list of newsletters. 

We review how various portfolios and funds have performed year to date. 

Markets might or might not be at a late stage momentum driven market. We review several momentum portfolios at individual stocks, sectors and styles level. 

Is fixed income no more? The 20 year bull market in bonds is ending, as they say. Time to be more active. 

We discuss the revisited New Normal by PIMCO’s El-Erian and its implication in portfolio risk management. 

An investment strategy can be good on paper but error prone in implementation. Same can be said for many investment managers and/or funds. 

This newsletter discusses the often ignored but equally important risk in investing: upside risk. 

This newsletter addresses the first type of risk in investing: downside risk. 

We compare the pros and cons of total return based investing and high yield investing. We point out that it is important not to over emphasize dividends/yields. Total returns with dividend tilted approach in general achieves better risk adjusted returns. 

Strategic Asset Allocation has done well. But it does have its own pros, cons and the ugliness. 

Tactical Asset Allocation has its own good, bad and ugly parts that are detailed in this newsletter.