Curious how much of the Freedom 100 Emerging Markets ETF (FRDM) outperformance can be attributed to (1) excluding all of China & (2) Owning a larger stake in TSCM. It's a decently concentrated fund, but love the implementation idea of freedom in these Emerging economies. One might consider replacing Vanguard's VWO or iShares IEMG for this one, since it's not too bad ER of .49%. Great job on this podcast!
1:00:36 “I’m a believer in a stock centric portfolio most of the time, but not when Schiller PE is 38” You could have made the same argument when the PE was at 20! And people did! The historical range of Schiller was 8 to 20 for much of history, and then it broke out in the late 80s, and really never looked back. Makes you question how useful that stat is 🤔
What are the index funds he’s talking about “yours” and “his”? I like the idea of the S&P deletion performance, but I don’t hear the names of these index funds.
He said alpha in quant based and limited capacity is trading inside the noise of the market. Probably RT and others find patterns of traders and bet against them
Isn't he totally wrong on Buybacks? Even if I dont sell my current stocks, I now own proportionally more of the company, as the outstanding stocks have been reduced, thus directly raising the price/the price not falling due to the distribution. So I dont see how I dont benefit as a b&h investors, and even if that deosn't lead to more future growth.
Yes, his buyback theory is wrong. Or at least it’s not useful. Just like his critique of market cap weighted index investing - he might be theoretically correct, but it won’t help you, and might actually hurt your returns if you listen to him.
And you could argue that everything he says about buybacks is also true about dividends. It’s a shift in the ownership structure, instead of the company have $100 the shareholder has a $100. It is net 0 zero transaction just like buybacks Dividends also don’t increase the prospects for future growth.
He's underestimating and poo pooing the importance of the passive bid -- go back and look at the interview he had with Mike Green -- he knows value investing will never work (same reason shorting doesn't work anymore) while flows into passive dominate the market.
Unexpectedly lost my job at 39, and had $425,000 saved for retirement, $10,000 in an HSA, and a home valued at $200,000, I’m exploring ways to boost my income. What are some of the best options?
Second. When Rob appears on a new podcast, I put everything down and listen 😊
We do too. Thank you for watching!
Amen
Wonderful convo. Would love a link to the article.
Thank you! You can find it here: www.researchaffiliates.com/publications/journal-papers/1061-fifty-years-of-innovation
Perth did a good job.
She was awesome! We hope she will come back and do another one with us again sometime.
Great stuff, thank you!
Thank you for watching!
Thanks for the content.
Thank you for watching!
Curious how much of the Freedom 100 Emerging Markets ETF (FRDM) outperformance can be attributed to (1) excluding all of China & (2) Owning a larger stake in TSCM. It's a decently concentrated fund, but love the implementation idea of freedom in these Emerging economies.
One might consider replacing Vanguard's VWO or iShares IEMG for this one, since it's not too bad ER of .49%.
Great job on this podcast!
First. Great title.
1:00:36 “I’m a believer in a stock centric portfolio most of the time, but not when Schiller PE is 38”
You could have made the same argument when the PE was at 20! And people did! The historical range of Schiller was 8 to 20 for much of history, and then it broke out in the late 80s, and really never looked back. Makes you question how useful that stat is 🤔
What are the index funds he’s talking about “yours” and “his”? I like the idea of the S&P deletion performance, but I don’t hear the names of these index funds.
His ETF is the Research Affiliates Index Deletion ETF and hers is the Freedom 100 Emerging Markets ETF.
you dont hear the names, because they are not allowed to name them in such a podcast, due to compliance laws.
If you implemented a bond heavy portfolio over the last 10 years as Rob suggested your annual returns would have been 0.86% a year 🙁
He said alpha in quant based and limited capacity is trading inside the noise of the market. Probably RT and others find patterns of traders and bet against them
I liked the idea of index additions and removals, but when I checked the situation in 2024 - I would not make an investment strategy based on this.
Isn't he totally wrong on Buybacks? Even if I dont sell my current stocks, I now own proportionally more of the company, as the outstanding stocks have been reduced, thus directly raising the price/the price not falling due to the distribution. So I dont see how I dont benefit as a b&h investors, and even if that deosn't lead to more future growth.
Yes, his buyback theory is wrong. Or at least it’s not useful. Just like his critique of market cap weighted index investing - he might be theoretically correct, but it won’t help you, and might actually hurt your returns if you listen to him.
And you could argue that everything he says about buybacks is also true about dividends. It’s a shift in the ownership structure, instead of the company have $100 the shareholder has a $100. It is net 0 zero transaction just like buybacks
Dividends also don’t increase the prospects for future growth.
Those myths have served institutional investors well - retail investors, not so much.
Get rid of the old fashion tie wearing. Learn the history of tie wearing. I don't listen to tie wearers.
He's underestimating and poo pooing the importance of the passive bid -- go back and look at the interview he had with Mike Green -- he knows value investing will never work (same reason shorting doesn't work anymore) while flows into passive dominate the market.
NVDA was a value stock in 2022 it seems to have turned out for people who bought it.
What is the male host hanging out in an empty white house? Is he a new home real estate agent?
I like to keep things clean.
@@ExcessReturnsI particularly like that “just moved in” appearance. It’s similar to the new car smell.
Focus on the interview
A fine house. I'll think I'll buy one too
Unexpectedly lost my job at 39, and had $425,000 saved for retirement, $10,000 in an HSA, and a home valued at $200,000, I’m exploring ways to boost my income. What are some of the best options?
Watch the video for starters
work
This guy is a marketing gimmick