Einstein is entering its fourth month operating under a new asset allocation mix of ETFs. The revised allocation is designed to withstand a major equity draw-down. Here is information on the first three months of operation. June: Loss of 0.92 percent (-0.92%) July: Gain of 1.54 percent (1.54%) August: Gain of 1.58 percent (1.58%) As readers you will see that the portfolio is … [Read More...]
Bach’s St. John Passion
While Bach is well known for his St. Matthew Passion music, in some ways I prefer his St. John Passion compositions so here is my recommendation for the week. I usually include a review from Amazon as most reviewers have a better … [Read more]
Seven Last Words of Christ: Theodore Dubois
Of the two recordings I have of "The Seven Last Words of Christ," one by Dubois and one by Haydn, the composition by Dubois is by far my favorite. The purity of "Christ We Do All Adore Thee" is well worth the price of this CD. The accompaniment is … [Read more]
Charles Ellis: Loser’s Game of Stock Picking
Let’s revisit Charles D. Ellis’ 1995 paper, “The Loser’s Game,” where he describes his Break-Even Return (BER) equation. Here is a review of this equation. BER = [(Turnover percentage x Transaction Cost) + Management Fee + Target Return]/Market … [Read more]
ITARR: How To Reduce Losses
Zion National Park On page 167 of Mebane T. Faber and Eric W. Richardson’s book, “The Ivy Portfolio: How to Invest Like the Top Endowments and Avoid Bear Markets” we read, “Our research has shown that returns are lower and volatility is higher when … [Read more]
Portfolio Requirements: Basic Ideas For Construction
Basic portfolio construction requires that long-term goals include diversification, a risk reduction model, and equity orientation. Here is how I outline the thinking process when putting together a portfolio of securities. Think … [Read more]
Looking for Signs of Weakness in the Markets
Even though some of us may have been wary of the continuing strength of the markets for a few months now, over the past week, we may have been getting the feeling that some signs of weakness are beginning to show in the markets. In a standard margin … [Read more]
Keeping It Simple: Building A Basic Portfolio
Having just finished William J. Bernstein's latest e-Book, simplicity is on my mind. Toward the very end of the book, Bernstein mentions that one can deviate from the three index portfolio by branching out to real estate, TIPs, etc. While the three … [Read more]
William Bernstein’s Latest E-Book: Getting Rich Slowly
William Bernstein's latest e-Book, If You Can: How Millennials Can Get Rich Slowly, is all about regularly investing equal amounts of money using three mutual funds. Those funds are: U.S. Total Stock Market, International Total Stock Market, and … [Read more]
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