Selling shares within the Schrodinger is so rare it merits taking notice. Recently, the Schwab computers sold shares of Invesco US 1000 (PRF) and Schwab Municipal Bond (SCMB) and used the cash to purchase shares of Vanguard Tax Exempt Bond (VTEB). This move eliminated holding shares in SCMB. For new readers, the Schrodinger is a Robo Advisor portfolio managed by computers at Schwab. The … [Read More...]
Retirement Planning Mistake #5
Investors pick individual stocks to build portfolios rather than use index funds. Our preference is to use commission free ETFs. Next to not following "The Golden Rule of Investing," the error of not using index funds is likely the biggest … [Read more]
Retirement Planning Mistake #4
Investors lack knowledge about the importance of asset allocation. Investors do not educate themselves as to the importance of asset allocation, and what asset classes tend to perform better than others over the long-run. I need not go … [Read more]
Feynman Portfolio Study: Final Summary
The purpose of the Feynman Study was to take a list of 18 diversified assets and to demonstrate how that list could be used to construct portfolios based on a number of different strategies: Passive (Buy and Hold) Strategic Asset Allocation (SAA) … [Read more]
Retirement Planning Mistake #3
Many investors are too conservative at an early age. In other words, they are "stock market shy." Don't load up your portfolio with bonds when you are in your twenties and you have forty years to save. Let me illustrate this … [Read more]
Retirement Planning Mistake #2
Prospective investors carry too much credit card debt. This mistake is a corollary of Mistake #1. Stay out of credit card (CC) debt. Mistake #2 is not so much an investor mistake, but rather a mistake of bad management as it has nothing to do … [Read more]
Portfolio Construction: The Essential Decisions
William J. Bernstein, in his most recent book, “The Investor’s Manifesto” writes, “Before diving into the most important issue faced by any investor–the asset allocation decision–you will need to understand four things: save as much as you can, make … [Read more]
Retirement Planning Mistake #1
Mistake number one in my book is failure to save or to not follow The Golden Rule of Investing. Open up a spreadsheet and run your own calculations for the following classic comparison. As a nineteen year old you have the foresight and financial … [Read more]
Advisors Do Not Add Alpha
ITA Wealth Management is all about learning to manage your own portfolio instead of hiring a professional money manager. Here is added evidence that consultants and advisors are not adding alpha to some of the most recognized portfolios in the … [Read more]
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