My Random Stock Portfolio Experiment: One Year Later

Posted Posted in Uncategorized

One year ago, I responded to an idea on Twitter that we should test how portfolios of stocks selected completely at random would do compared with a broader benchmark.Β  I then created five random portfolios of 30 stocks each, equally weighting random selections from the Russell 3000 index, all on Folio.Β  Not surprisingly, these portfolios […]

HK hedge fund assets more than Singapore, Australia and Japan combined – FT

Posted Posted in Uncategorized

This week in the print version of the FT, I was intrigued to find this chart showing the relative hedge fund assets under management in Hong Kong versus Singapore and the larger “onshore” jurisdictions of Australia and Japan. The article surveyed several hedge funds to all under what conditions they might consider relocating out of […]

Passport IRA

How to manage your IRA or 401K from outside the US: Webinar on June 16th 5pm HKT

Posted Posted in Uncategorized

With the deadline to make our 2019 IRA contributions pushed to July 15th this year, I have been getting an extended number of questions about IRA and 401K accounts for fellow Americans living overseas. So between the two webinars I am doing on the markets of Singapore and India post COVID-19, I am doing a […]

Economic profit by industry, 2010-2014

Some industries really are more profitable than others

Posted Posted in Charts, Uncategorized

One of the concepts in academic economics which seems to obviously false in the real world is the idea that firms in a competitive market will earn “economic profits” of zero. An oversimplified version of that would be to say that after subtracting out all economic costs, including opportunity costs, there is no advantage of […]

retirement statistics

75% of 65+ Men Retired Today vs 25% in 1880

Posted Posted in Uncategorized

In the “shocking statistics” category, I wanted to post the following quote in this Morningstar article on the US retirement savings crisis: The notion of retiring is a recent phenomenon. In 1880, roughly 75% of men 65 years and older were still working. Life expectancy (at birth) was about 45 years. Today only about 25% […]

Singapore then and now, 1980s photos from Mothership

Posted Posted in Uncategorized, Web finds

An article on Mothership showing photos of how Singapore has changed in the past 30 years:

Highlights and photos from the China Alternatives Investment Summit 2018 in Beijing

Posted Posted in Uncategorized

Had some problems uploading these from the conference, but here are some photos of last week’s event on ETFs and alternative investments, with my Keynote on AI and Robo-investing.

A Critical Look at Critical Illness Insurance: Is It Worth It?

Posted Posted in Uncategorized

Most critical illness insurance policies (also known as “dread disease insurance”) I’ve seen before have looked like a pretty bad deal when I add them up and compare them with alternatives.Β  These are a few things I often find unattractive about them: They are often sold, not bought or sought. They are often sold on […]

Performance of Quality, Value, Momentum, and Low Volatility Strategies vs the S&P 500

Posted Posted in Investing, Uncategorized

I have been working with “smart beta” strategies since 2006 (before they were even called “smart beta”), and continue to believe that investing through these rules-based factors provides better risk-adjusted returns than index funds at far lower cost than actively managed mutual funds. Β In GFM-managed client accounts, we continue to apply the well-researched factors, of […]