The way I interpreted it is there is no margin debt involved - the cash call is coming from the leverage embedded in the currency hedge. I could...
I don't know the history for Iceland, but I do know how the German example played out. Paper assets were wiped out, and equities ending up holding...
To restate what may have already been said, these currency-hedged index products are really just normal indexed products, with an additional...
What I find interesting is the mismatch between the relatively illiquid private assets, and the tendency for anxious/scared investors to exit...
No idea, but I wanted to share this. Essential fundamentals for share investors, in my opinion. [MEDIA]
@euro73 , was wondering if you could elaborate on what 'destroying the joint' would look like. Is this, for example, forced sales for some...
I must admit I think about this differently @The Falcon. If you were to sell and invest in a similar yielding bond or bond fund, the economic...
Interesting, so Bogle uses trailing PE. CAPE has its flaws, but I would have thought it would be better than PE. If Bogle was a smart guy (by all...
Yep, defining extreme is a problem. I'm not familiar with Yardeni, is there a metric other than CAPE which is predictive out of sample? From the...
The article Back In The Hunt contains some robust analysis of the CAPE ratio. My takeaway is that CAPE is hard to use most of the time, but is...
I actually think @Wilko is on fairly solid intellectual ground. The below is from The Intelligent Investor, described by Warren Buffett as the...
Thanks for putting that together dunno. For a fair comparison I'm interested to see what 100% VAS looks like for that time-frame and withdrawal...
Those figures did surprise me. I see the earnings growth rate for US is 19.0%, if that can be sustained I concede US would definitely be...
Hi @dunno, I think I understand what you're saying. Do you have anything you can point me to that explains how the correlation benefits work. I...
@Ross36, it's interesting reading your thoughts. I should make clear I do not claim any expertise in statistics, nor do I use standard deviation...
Also, I feel I should add that a "concentrated" strategy is highly dependent on being able to choose appropriate securities, so should not be...
I strongly agree with what you're saying @Ross36, I did not mean to condone or perpetuate the misuse of statistics. The example illustrates...
Have you thought about why you're questioning the plan? Most likely you're seeing market prices decline and are feeling some anxiety. This is...
The Gulf War highlight is for the intervention, not the invasion. In the third quarter of 1990, there was market panic following the Iraq invasion...
This reminds me of an interesting quote about diminishing returns as diversification is increased, from someone who I regard as one of the "super...
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