Frugal News
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| The active passive investor |
| 05/12/13 7:25 PM EST | Indexing |
| "Today, the more affluent investor's default strategy is - increasingly - indexing, inspired by the likes of John Bogle, Charles Ellis and William Sharpe. But I have often found that indexing advocates implement strategies that are quite a departure from the underlying theory they use to support their choices." |
| More Indexing: Vanguard total int'l bond fund |
| Why do Value Investors like Indexing? |
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| IRS: not good at math |
| 05/11/13 11:28 AM EST | Taxes |
| "About a half-hour into a conference call with reporters Friday afternoon, senior Internal Revenue Service official Lois Lerner said something she will regret. 'I'm not good at math,' she confessed as she tried to summon a statistic." |
| More Taxes: Gérard Depardieu, the heroic exile |
| Income malaise complicates tax talks |
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| Vanguard total int'l bond fund |
| 05/05/13 2:11 PM EST | Indexing |
| "The latest filing provides additional details on the fund that.s designed to track the Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (dollar hedged), and will tap into a universe of 7,000 high-quality corporate and government bonds from 52 countries." |
| More Indexing: Why do Value Investors like Indexing? |
| When cheap funds cost too much |
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| You cheeky monkey |
| 04/25/13 7:46 PM EST | Stingy Investing |
| "Some index investors have suggested that expensive portfolio managers could easily be replaced by monkeys willing to work for bananas. Now a recent study goes even further. It suggests that a chimp can outperform not just the typical money manager but the traditional index fund as well." |
| More Stingy Investing: Prem Watsa counsels cash |
| Cisco provides a lesson in patience |
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| The lure of hedge funds |
| 04/19/13 8:45 PM EST | Funds |
| "Investors often buy what they think is exciting, sophisticated, and complex with the embedded assumption that all of these attributes will lead to greater returns. We see this today where we witness the continued explosive growth of hedge funds. But, a careful examination of the data reveals that these fancy lures fail to hook as much in excess, after-fee returns as more time tested strategies." |
| More Funds: Why investors lag funds |
| He's not a billionaire, he just plays one on TV |
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| Why home prices change |
| 04/14/13 5:21 PM EST | Real Estate |
| "In an ideal world, steady and uniform inflation would have no effect on rational decision-making because it affects incomes as well as prices. But in the real world, inflation does affect our psychology. People feel more optimistic when their nominal pay rises or when a neighbor's house sold for more than they paid for theirs. But in thinking about investments for the long term, we should focus on fundamentals - on real, inflation-corrected values and on the economics behind them." |
| More Real Estate: Shiller on housing |
| A new housing boom? |
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| Chou's 2012 letter |
| 03/30/13 10:34 PM EST | Value Investing |
| "In general, we are not that bullish on the stock market. Aside from a couple of industries like the financial institutions in the U.S. and companies in the retail sector, we are not that comfortable with the prices of many stocks." |
| More Value Investing: Fishing for value |
| The best stock-picker |
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| Fishing for value |
| 03/30/13 10:29 PM EST | Value Investing |
| "There are generally three scenarios under which they buy into a company - it's ignored by Wall Street, is misunderstood by investors, or has suffered from panic selling." |
| More Value Investing: The best stock-picker |
| Mohnish Pabrai interview |
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| Teach Americans to be cheap |
| 03/24/13 7:02 PM EST | Thrift |
| "The most potent way to get more wealth to the poor and middle-class is to get these people to save more of their income, and to invest in assets with higher average rates of return." |
| More Thrift: The 'scrooge' who begat plenty |
| The future of shopping |
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| The search for balance |
| 03/17/13 5:11 PM EST | Stingy Investing |
| "Even low-fee tax-optimized balanced portfolios face difficulties today because the yield on Canadian bonds is very low. To get a real return of 5 per cent on an equally mixed stock and bond portfolio you'd need to see stocks gain more than 9 per cent a year, which seems unlikely at this point. Because most people wind up in reasonably balanced portfolios, it's more critical than ever to avoid high fees. Unless, of course, they're keen on the Freedom 75 plan." |
| More Stingy Investing: Why quality can be a drag |
| Big U.S. banks on 3-for-1 sale |
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| How not to run a pension fund |
| 03/03/13 11:07 AM EST | Government |
| "I love alternative investments. I love Wall Street. I don't mind paying fees. But I want returns." |
| More Government: We are the 98 percent |
| The real fiscal problem |
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| Mohnish Pabrai interview |
| 02/24/13 6:18 PM EST | Value Investing |
| "I don't invest in technology stocks because I understand it. Basically, Buffett would say that he doesn't invest in tech businesses because they are subject to change. Industries with rapid change are the enemy of the investor. Tech businesses, particularly biotech, is a problem from that point of view. All industries work with change but you should ideally be investing in businesses with a low rate of change, not a high rate of change." |
| More Value Investing: Tough times for classic value investors |
| Francis Chou on value |
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| Why investors lag funds |
| 02/16/13 6:07 PM EST | Funds |
| "Big surges and big declines spur greed and envy, then fear and anger. The more emotional an investor, the worse his decisions will be. The past two bear markets are perfect examples. Some people bought stock funds heavily prior to the bear markets only to see their investments plunge. Then they bailed close to the bottom only to miss big rebounds. Not everyone did that, of course--many were patient--but flow data tell us too many went in the wrong direction." |
| More Funds: He's not a billionaire, he just plays one on TV |
| How Eric Sprott got solar burn |
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| The 'scrooge' who begat plenty |
| 02/16/13 5:55 PM EST | Thrift |
| "Perseverance, property rights, contracts, civility to one's opponents, silence, smaller government, trust, certainty, restraint, respect for faith, federalism, economy, and thrift: these Coolidge ideals intrigue us today as well. After all, many citizens today do feel cursed by debt, their own or their government's. Knowing the details of his life may well help Americans now turn a curse to a blessing or, at the very least, find the heart to continue their own persevering." |
| More Thrift: The future of shopping |
| A lost decade for savers |
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| New cough medication |
| 02/09/13 10:59 PM EST | Fun |
| "It's a suppressant. Sometimes." |
| More Fun: The guide to trading candy |
| 21 reasons why you should never date an economist |
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| Shiller on housing |
| 02/09/13 10:57 PM EST | Real Estate |
| "Robert Shiller, a professor at Yale University and co-creator of the S&P/Case-Shiller index of property values, talks about the outlook for the U.S. housing market." |
| More Real Estate: A new housing boom? |
| We're number 1 |
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| Tetanus for Tim? |
| 02/09/13 10:50 PM EST | Stingy Investing |
| "Spartan accommodations are one reason I became interested in a stock owned by money manager Tim McElvaine. He quipped that he felt the need to get a tetanus shot before visiting the aging headquarters of the company" |
| More Stingy Investing: How much does that indexed portfolio cost? |
| Make headlines with media-shy stocks |
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| Wall Street hates you |
| 02/03/13 6:32 PM EST | Brokers |
| "Don't buy what someone wants to sell you. Buy what you have researched." |
| More Brokers: Virtual Brokers becomes ETF leader |
| RBC Direct Investing disappoints |
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| Francis Chou on value |
| 02/03/13 6:14 PM EST | Value Investing |
| "What keeps you awake at night? I worry if my valuations are wrong. If they are wrong, then you don't make money. I am looking for something that I believe is worth 100 cents, but which I can buy for 50 or 60 cents. But is my 100 cents accurate? Did I miss something? Is the earning power there? Are the assets really worth what they're saying? And is management honourable, or will they run off with the money?" |
| More Value Investing: Net-nets are not for faint of heart |
| Ryan Morris, activist value investor |
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| How much does that indexed portfolio cost? |
| 01/31/13 9:20 PM EST | Stingy Investing |
| "If you need advice on building your portfolio, indexing may not be your best option" |
| More Stingy Investing: Make headlines with media-shy stocks |
| Why Apple investors should remember Nortel |
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