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Frugal Headlines powered by

 10/15   Rich ghost townsReal Estate 
 09/29   3 shades of valueValue Investing 
 09/24   Active vs. index investingHallett 
 09/17   Lessons from Peter LynchFunds 
 09/10   A warning to home buyersTaxes 
 09/06   Fake returnsFunds 

Frugal News

Rich ghost towns
10/15/18   8:04 PM ESTReal Estate
"These days, walking through parts of Manhattan feels like occupying two worlds at the same time. In a theoretical universe, you are standing in the nation's capital of business, commerce, and culture. In the physical universe, the stores are closed, the lights are off, and the windows are plastered with for-lease signs."
More Real Estate: Geoarbitrage
The rate of return on everything

3 shades of value
09/29/18   8:02 PM ESTValue Investing
"Rebalancing into ultra-cheap shares at the market's lowest point helped these funds outperform VTI in 2009 as the recovery got underway. DFA U.S. Large Cap Value, Invesco FTSE RAFI US 1000 ETF (PRF), and Invesco S&P 500 Pure Value ETF (RPV) had excess returns of more than 2 percentage points over VTI from March 2009 through June 2018. RPV had the best returns of the bunch, outpacing VTI by 6.3 percentage points annually."
More Value Investing: Go small value
Bruce J. Flatt talk

Active vs. index investing
09/24/18   8:59 PM ESTHallett
"The vast majority of investors can benefit from qualified professional advice that integrates wealth planning with investment management. This includes a robust discovery process, goals-based planning and a portfolio designed around these important inputs. The value of this combination is so significant over time that it can render the active vs passive debate almost meaningless."
More Hallett: ETF labelling
Scalability challenges

Lessons from Peter Lynch
09/17/18   8:12 PM ESTFunds
"Multiple analyses have been performed with the purpose of deconstructing and explaining Lynch's success, and the conclusion seems to be that higher beta, momentum, and size were among the primary sources of Magellan's amazing performance."
More Funds: Fake returns
Chasing mutual fund performance

A warning to home buyers
09/10/18   7:00 PM ESTTaxes
"So, the onus is now on the buyer of real estate to not only collect taxes on behalf of the CRA when a non-resident is selling a property, but to also make a judgment on when to investigate further the tax residency of the seller - as though a layperson is qualified to know when and how to make that inquiry."
More Taxes: Appalling problem for small businesses
Passive income changes create big concerns

Fake returns
09/06/18   6:30 PM ESTFunds
"IRRs are meaningless and should never be used."
More Funds: Chasing mutual fund performance
Chasing returns

Spending matters more saving
09/06/18   6:28 PM ESTThrift
"Yet in reality, most households struggle to save because there is no money left at the end of the month to save in the first place. Because technically their problem isn't a savings rate that's too low; it's a spending rate that's too high, in one or more categories, that is causing all of the available household income to be consumed before the end of the month is even reached"
More Thrift: How much is enough?
Frugality isn't what it used to be

Chasing mutual fund performance
09/06/18   6:25 PM ESTFunds
"So does performance chasing in the mutual fund universe deserve its less-than-stellar reputation? It depends. If the momentum strategy is systematically implemented, frequently rebalanced, and has low transaction costs, it can generate excess returns. But as a rule, performance chasing is best avoided. Our analysis indicates that investors would be better off betting on mean-reversion."
More Funds: Chasing returns
The dead man fund

08/28/18   9:05 PM ESTReal Estate
"So the meat of the matter is, how much is the gap between the actual median income for each state, and the income it takes to buy the median priced home in each state?"
More Real Estate: The rate of return on everything
Shadow lending growing in Canada

Charley Ellis interview
08/07/18   8:45 PM ESTIndexing
"Charley was an early guest on the show and we reconvened to talk through the full case of indexing for individuals and some of its constraints for institutions. Our conversation covers the case for indexing, smart beta, the retirement problem, investing in alternatives, private equity, and indexing challenges in emerging markets." [audio]
More Indexing: ETFs with Eric Balchunas
Looking past the package

Longest fraud sentence in Canada
07/02/18   8:11 PM ESTCrime
"The former Waterloo Region financial adviser fleeced 41 people - many with little investing experience - out of $10 million."
More Crime: The reporter who took down a unicorn
Enron, 10 years after

ETFs with Eric Balchunas
07/02/18   8:07 PM ESTIndexing
"My guest this week is Eric Balchunas, the senior ETF analyst for Bloomberg and the author of the Institutional ETF toolbox. This episode is intended for those in the asset or wealth management industry who have considered using ETFs in their portfolios, or for the individual investor who likes to stay up to date on trends in the market for asset management products. We cover all aspects of ETFs in some detail" [audio]
More Indexing: Looking past the package
Vanguard's one-fund solution

Cliff Asness interview
06/25/18   9:43 PM ESTMomentum Investing
"AQR Capital's Cliff Asness, a rare combination of Great Investor and Financial Thought Leader shares his views and strategies."
More Momentum Investing: Sector vs country momentum
52 week high and the Q-factor

The reporter who took down a unicorn
05/28/18   9:36 PM ESTCrime
"How John Carreyrou battled corporate surveillance and intimidation to expose a multibillion-dollar Silicon Valley start-up as a fraud."
More Crime: Enron, 10 years after
Frank Abagnale interview

Looking past the package
05/07/18   11:39 PM ESTIndexing
"ETFs have adopted all of the mutual fund industry's bad habits."
More Indexing: Vanguard's one-fund solution
Direct indexes: cheaper than ETFs

Secretary donates $8.2 Million
05/07/18   10:58 PM ESTCharity
"Even by the dizzying standards of New York City philanthropy, a recent $6.24 million donation to the Henry Street Settlement on the Lower East Side was a whopper - the largest single gift from an individual to the social service group in its 125-year history. It was not donated by some billionaire benefactor, but by a frugal legal secretary from Brooklyn who toiled for the same law firm for 67 years until she retired at age 96 and died not long afterward in 2016."
More Charity: The best ways to give to charity

Chasing returns
04/22/18   9:43 PM ESTFunds
"The authors illustrated how the probability that a talented manager's performance will exceed the best in a pool of untalented managers can be surprisingly small, even over long periods. It helps explain why performance-chasing has produced such poor results for individual and institutional investors alike."
More Funds: The dead man fund
Institutional investors, just like us

Rent control needs retirement
02/12/18   8:09 PM ESTGovernment
"If politicians actually want to make sure everyone who needs a place to rest their head has one, there's only one way to do it: Build more housing. Which means, in turn, loosening the legal restrictions and community veto points that make it so hard to add supply. Because there's no way to escape the fundamental math: Unless you build enough housing to shelter the people who want to live in your city, a whole lot of people will be left out in the cold."
More Government: Ontario making it easier to underfund pensions
Policy-based evidence making

Vanguard's one-fund solution
02/05/18   8:53 PM ESTIndexing
"It was one of the great mysteries in the Canadian fund market: why had no one created an ETF version of the balanced index mutual fund?"
More Indexing: Direct indexes: cheaper than ETFs
Low vol in perspective

Ontario making it easier to underfund pensions
01/29/18   6:35 PM ESTGovernment
"Pension defaults are rare, but the CCPA study found that of the 39 largest publicly traded companies that have defined-benefit pensions, only nine had plans that were fully funded last year. Rather than loosening restrictions, Ontario should amend the Ontario Pension Benefit Act to require businesses to fund 100% of their pensions. Those that can't shouldn't offer pensions in the first place."
More Government: Policy-based evidence making
Risky mortgage investments

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