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Frugal Headlines powered by stingyinvestor.com

 07/25   Charles Ellis interviewIndexing 
 07/19   Beat the stock marketIndexing 
 07/04   Pay down debtThrift 
 07/04   Hyper zip code inflationReal Estate 
 06/13   The problem with momentum ETFsIndexing 
 06/06   Canadian home prices a deal vs US bubbleReal Estate 
 05/30   Indexes proliferateIndexing 

Frugal News

Charles Ellis interview
07/25/21   7:42 PM ESTIndexing
"If you look at all those different component parts, most of us have way too much in stable assets, which is what bonds are supposed to do, which is why in the present circumstances, where the expected inflation is higher than the rate of return on the bond, it's really hard to justify being a bond investor today."
More Indexing: Beat the stock market
The problem with momentum ETFs

Beat the stock market
07/19/21   9:55 AM ESTIndexing
"His firm's research finds that buying the outgoing stock in discretionary deletions from the S&P 500 at the closing price on the day it's removed from the index has beaten the market by an average of nearly 20% over the following 12 months."
More Indexing: The problem with momentum ETFs
Indexes proliferate

Pay down debt
07/04/21   7:11 PM ESTThrift
"A safe withdrawal rate is the lesser of the yield on the 10 year treasury +1%, or 7%. The long-term increase in value of assets is roughly proportional to something a little higher than where the US government can borrow for 10 years. That's the reason for the formula. Capping it at 7% is there because if rates get really high, people feel uncomfortable taking so much from their assets when their present value is diminished."
More Thrift: Go figure
What it takes

Hyper zip code inflation
07/04/21   7:00 PM ESTReal Estate
"In its effort to control asset prices, we believe the Federal Reserve has lost control of the real estate market. While they have succeeded in building a floor under home prices, they forgot about the ceiling! Assuming zip code hyperinflation spreads, we expect wealth inequality and housing affordability to become an increasingly hot topic in upcoming elections. In the meantime, the Federal Reserve's balance sheet continues to inflate as millions of potential homeowners are being squeezed out of the market. How much longer will the inequalities created from ultra-easy monetary policy be tolerated and left unchecked? We're not sure, but given the growing extremes, we believe it is the Fed's ability to QE without consequence that has become transitory, not inflation."
More Real Estate: Canadian home prices a deal vs US bubble
A bad time to be a homebuyer

The problem with momentum ETFs
06/13/21   7:21 PM ESTIndexing
"This highlights the challenges with momentum ETFs that rebalance only twice a year. In a rapidly changing market environment, the strategies can be slow to catch-up meaning any hope of outperformance, especially in the short term, is most likely wishful thinking."
More Indexing: Indexes proliferate
One-click portfolios

Canadian home prices a deal vs US bubble
06/06/21   7:56 PM ESTReal Estate
"Canadian real estate is receiving a big warning sign from an indicator that was an alarm for the US in 2006. The house price-to-rent ratio shows Canadian real estate is overvalued. When contrasted to the US is when you really get a feel for how much Canada went all-in on real estate. It makes 2006 America look like a sleepy backwater market of value investors."
More Real Estate: A bad time to be a homebuyer
Canadian property bubbles

Indexes proliferate
05/30/21   2:20 PM ESTIndexing
"The lines have blurred between what constitutes an index and what is simply another active investment strategy"
More Indexing: One-click portfolios
ETF pairs for tax-loss selling

A bad time to be a homebuyer
05/30/21   2:13 PM ESTReal Estate
"Because houses are selling so quickly, buyers are having to make all kinds of concessions to get the place they want. People are waiving inspections, paying in all cash and offering well over asking price in many cases."
More Real Estate: Canadian property bubbles
Affordable cities in Ontario

Canadian property bubbles
05/23/21   5:06 PM ESTReal Estate
"They found Canada's hottest real estate markets are now less affordable than globally influential US cities. Heck, Canada's property bubble even pushed the tiny steel city of Hamilton to become less affordable than Los Angeles or New York City."
More Real Estate: Affordable cities in Ontario
Canadian systemic risk

Work in progress
05/23/21   3:00 PM ESTRetirement
"Thanks to the pandemic, most of us have discovered there's plenty of fat in our budget. Think about how much you saved over the past 14 months by not going on vacation, cooking at home and avoiding the shopping mall. During retirement, if your nest egg looks a little depleted, perhaps you should adopt a 'pandemic budget' for six months or a year."
More Retirement: Built for Ease
Sustainability of withdrawal strategies

A famous con man
05/09/21   6:46 PM ESTCrime
"But though the movie claims to be based on a true story, creating the myth of Frank W. Abagnale Jr. might be the best con that Abagnale actually pulled. A new book contends that the story of the charming teen running from the FBI and pulling off all those impersonations without getting caught is mostly made up."
More Crime: My worst investment
The imposter

Affordable cities in Ontario
05/09/21   6:40 PM ESTReal Estate
Hello Deep River, Smooth Rock Falls, Rainy River, Marathon, and Englehart.
More Real Estate: Canadian systemic risk
Homes in a bubble

Deferred sales charges banned
05/09/21   6:38 PM ESTFunds
"The Ontario government is allowing the province's securities regulator to join the rest of Canada in banning early withdrawal fees charged by mutual funds."
More Funds: Hedge fund performance fees
Dear fellow investors

My worst investment
04/25/21   6:01 PM ESTCrime
"Everything went along swimmingly, with Mr. B sending me monthly statements indicating the steady rise in the value of my coins. I went to a few more seminars, where now he was advocating that, in addition to gold and silver, I may want to invest in a couple of small-cap stocks listed on the Toronto Stock Exchange..."
More Crime: The imposter
Playing dirty

Money printing and inflation
04/25/21   5:16 PM ESTWorld
"Intuitively, inflation should follow the money supply. The more money that circulates in an economy, the more demand for products and services, which should lead to higher prices. However, the economy consists of many interrelated variables and linear models frequently fail to represent reality."
More World: The economic recovery in Japan
The great forgetting

Not taking enough risk
04/25/21   4:40 PM ESTBrokers
"Court finds an investor's portfolio was too heavily concentrated in preferred shares, but its low-risk strategy was appropriate"
More Brokers: And it's gone
The cost of free trades

Go figure
04/18/21   5:35 PM ESTThrift
"A lot of investment math focuses on how money grows over time. But as an attorney who's worked with many clients hoping to retire in comfort, I find myself thinking more about risk - and how the math can work against us."
More Thrift: What it takes
Low cost is better than free

What it takes
04/03/21   8:37 PM ESTThrift
"No way. That's been my reaction whenever I've read about people saving 30% or more. I look back and think about making monthly mortgage payments, raising four children, paying for college and trying to save something to supplement my pension. For my wife and me, a 30% savings rate simply wasn't possible. Nevertheless, people do it."
More Thrift: Low cost is better than free
Liquid net worth

Low cost is better than free
03/28/21   6:53 PM ESTThrift
"As someone who's worked on pricing R&D at two different wealth managers, I can assure you that like high-functioning pavlovian dogs, companies are very sensitive to what people want as revealed by their actual behavior. If people started subscribing in droves to a direct paid model, they'd hop on that model quickly. But usually we don't. Based on our behavior, we basically look companies in the eye and say 'Lie to me please'. 'Tell me it's free', 'Tell me there's no fee'."
More Thrift: Liquid net worth
A personal finance lie

Canadian systemic risk
03/28/21   6:14 PM ESTReal Estate
"In Vancouver, you currently need to earn at least $147,600 to make the payments on a typical home in February 2020. Over in Fraser Valley, you can get away with $143,700 per year. That's 44% and 40% higher than the current median household income, respectively. Greater Toronto real estate also requires much bigger salaries to carry the mortgages. The payments on a typical GTA home needs a minimum salary of $148,570. In Hamilton, it's estimated at $128,100 at minimum. The minimum income is 45% and 25% higher than the current estimated household income, respectively."
More Real Estate: Homes in a bubble
Workers cannot afford rent

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