Long-time readers of ITA Wealth Management note we are paying more attention to portfolio risk and the volatility of individual securities than we did when this blog first started. Below is an example of why this is an important concept to consider when managing a portfolio. This basic idea is discussed in Chapter 8 of […]
Debunking Dividend Fallacies
While I considered placing a reference to this dividend article in the Forum, I thought it sufficiently interesting to write a short blog on the subject. Dividends Do Not Make Up The Majority Of Long-Term Total Returns is an old Seeking Alpha article that debunks what many Dividend Growth Investors (DGI) advocate. While the article […]
All You Need To Know About Investing On a 3 x 5 Card
With credit due to Professor Harold Pollack, check out these basic ideas of investing. If more space were available, I would add a few words to some of Professor Pollack’s suggestions. For example, if your company offers stock at a discount, take advantage of that opportunity and then sell the stock when possible and move […]
ITA Wealth Management Review: Catching Up
With new Platinum members joining on a regular basis, and no portfolios up for review today, now is a good time to summarize what this blog is all about. Long-time readers, and those who have taken the time to read a significant portion of the available material, witnessed an evolution in the investment philosophy of […]
Retirement Planning Mistake #11
Although alluded to in this “mistake series,” an emphasis, or special attention needs to be given to portfolio volatility or risk management. Even if we are tracking portfolio risk as identified by either the Information Ratio (IR), Sortino Ratio (SR) and/or Retirement Ratio (RR), we need to focus on protecting capital. Imagine you retired in […]
Back Testing Issues: Remain Skeptical of Results
Ernest Stokley was kind enough to spend time learning a new software language in order to run back-tests on ETFs used to populate ITA portfolios. There is an abundance of noise or uncertainty when analyzing data for back-testing. Here are a few examples. Actual Buy and Sell prices will not match back-testing Buy and Sell […]
Gordon Equation Revisited: A Time To Be Cautious
Back on December 16, 2009 I wrote a blog and then revised it in 2010. (Excuse the different size fonts as that comes from a copy and paste.) Those original writings are how history. This is the latest update of the Gordon Equation. I first learned of this equation while reading one of William Bernstein’s […]
Fama-French 5-Factor Asset Pricing Model
Motivated by a question related to the Morningstar style box, what factors motivate the ITA investment philosophy. Is the style box or SAA model valid even when the securities used to populate the various boxes are highly correlated? The SAA model came on hard times during the Great Recession when seemingly low correlated investments all […]
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