D*****t
发帖数: 558 | 1 Stick to a low cost balanced fund or a portfolio with fixed asset allocation
. This is the idea I want to express all along. But the NYT piece said
better than I do.
http://www.nytimes.com/2014/01/28/your-money/forget-market-timi
I have to admit I haven't followed my own advice 100%. I allow myself with 5
% speculative component in my portfolio. I would like to get rid of it. But
the gambler inside me wouldn't let go. I figure this may set my retirement
age back for several yrs.
Peter Lynch said "Far more money has been lost by investors preparing for
corrections, or trying to anticipate corrections, than has been lost in
corrections themselves.” ( i am surprised he said that) | r****m
发帖数: 1204 | 2 Rebalancing is still needed, not to time the market, but to adjust your
portfolio's equity exposure as you aging.
However, I was surprised by the finding of a recent study which showed that
the optimal equity exposure curve is not what we normally thought a L (with
a declining bottom), but rather a U (with the right side lower, though). | S**C
发帖数: 2964 | 3 I like hybrid funds. They help investors to avoid many behavior problems.
But I think the NYT piece get it backward, at least for some hybrid funds I
familiar with. They actually do not adjust the portfolio based on macro call
...value investors typically are not macro readers, They do not wake up and
say, I need to shift AA from 60-40 to 55-45 and I am going to sell ABC and
XYZ. Often times the cash keep flows in and
they just sit on it since there is not much to buy.
allocation
5
But
【在 D*****t 的大作中提到】
: Stick to a low cost balanced fund or a portfolio with fixed asset allocation
: . This is the idea I want to express all along. But the NYT piece said
: better than I do.
: http://www.nytimes.com/2014/01/28/your-money/forget-market-timi
: I have to admit I haven't followed my own advice 100%. I allow myself with 5
: % speculative component in my portfolio. I would like to get rid of it. But
: the gambler inside me wouldn't let go. I figure this may set my retirement
: age back for several yrs.
: Peter Lynch said "Far more money has been lost by investors preparing for
: corrections, or trying to anticipate corrections, than has been lost in
| D*****t
发帖数: 558 | 4 the new york times article does say that fixed allocation model such as
Vnagurd Balanced Index beats tactical allocation. Making decision on macro
calls doesn't work for me at least. the 5% opportunistic component in my
portfolio actually makes me lagging my favorite bench mark Vanguard Star
Fund slightly. My current speculative portion (since last yr) is to
overweight EM and gold miners. Let's see how this is going to end up with.
I
call
and
【在 S**C 的大作中提到】
: I like hybrid funds. They help investors to avoid many behavior problems.
: But I think the NYT piece get it backward, at least for some hybrid funds I
: familiar with. They actually do not adjust the portfolio based on macro call
: ...value investors typically are not macro readers, They do not wake up and
: say, I need to shift AA from 60-40 to 55-45 and I am going to sell ABC and
: XYZ. Often times the cash keep flows in and
: they just sit on it since there is not much to buy.
:
: allocation
: 5
| S**C
发帖数: 2964 | 5 FWIW, these are tactical allocation funds
http://news.morningstar.com/fund-category-returns/tactical-allo
VWELX/VWINX and alike are not tactical allocation funds.
【在 D*****t 的大作中提到】
: the new york times article does say that fixed allocation model such as
: Vnagurd Balanced Index beats tactical allocation. Making decision on macro
: calls doesn't work for me at least. the 5% opportunistic component in my
: portfolio actually makes me lagging my favorite bench mark Vanguard Star
: Fund slightly. My current speculative portion (since last yr) is to
: overweight EM and gold miners. Let's see how this is going to end up with.
:
: I
: call
: and
|
|
