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Frugal Headlines powered by

 07/23   Low delinquency ratesReal Estate 
 07/16   Debt hangoverDebt 
 06/26   The tail of the bond bullStingy Investing 
 06/26   Middle on brink of ruinEconomy 
 06/18   Institutional investors, just like usFunds 
 06/04   The new normalReal Estate 

Frugal News

Low delinquency rates
07/23/17   8:20 PM ESTReal Estate
"The problem arises when house prices stop rising and creating new equity against which stretched homeowners can borrow. People who are tight for cash rob Peter to pay Paul. And shifting debt from one lender to another has just been far too easy to do lately. Even a slowdown in house price appreciation, let alone a correction, would bring an end to that."
More Real Estate: The new normal
Too much housing

Debt hangover
07/16/17   4:57 PM ESTDebt
"In his recent book The Rise and Fall of Nations, Ruchir Sharma, Morgan Stanley's chief global strategist, concludes that the single most reliable indicator of periods of economic weakness was 'the kiss of debt rule, which shows that a major economic slowdown has always materialized when a nation's debt has grown more than 40 percentage points faster than GDP over a five-year period.' If he's right, we've got a big problem: Canada's ratio of debt to GDP rose from 294.9 per cent in 2011 to 354.5 in 2016 - an increase of 59.6 percentage points in the last five years."
More Debt: Debt buyers
We still have a buck in the till

The tail of the bond bull
06/26/17   3:20 PM ESTStingy Investing
"As well as bond have performed since the 1980s, investors shouldn't expect much from them going forward."
More Stingy Investing: Not dead yet
The Safer Dogs of the TSX

Middle on brink of ruin
06/26/17   2:40 PM ESTEconomy
"Why we'd rather binge on cheap credit than live within our means"
More Economy: Marc Andreessen interview
Too much versus too little dynamism

Institutional investors, just like us
06/18/17   8:28 PM ESTFunds
"But what if you picked the top allocation per decade for the next decade, how would that do? ... It would reduce your return by 1.5% per year"
More Funds: Index fund contrarian
O'Shaughnessy and O'Shaughnessy

The new normal
06/04/17   7:00 PM ESTReal Estate
"These days, the average home price is between seven and eight times income. To return to the ratio of the 1980s, the average household income has to jump to $160,000, or home prices have to fall back to $460,000."
More Real Estate: Too much housing
Fortress fails to silence critic

The math behind futility
05/28/17   9:19 PM ESTIndexing
"The distribution of returns in the stock market is bizarrely lopsided. Often, equity benchmarks are so reliant on gigantic gains in just a handful of stocks that missing them - as most managers do - consigns the majority to futility."
More Indexing: A monster ETF trade
An ETF gets too big

Michael Mauboussin interview
05/21/17   5:38 PM ESTMarkets
"He and his team have been prolific in the last six months, publishing several long research reports on the most interesting aspects of the investing landscape. In this conversation, we talk about business moats, industry analysis, and how to combine man and machine when building an investment strategy and portfolio." [audio]
More Markets: The big short and beyond
Winner takes all

A monster ETF trade
05/21/17   5:37 PM ESTIndexing
"Until 11:49 a.m. EST, exactly one share had traded hands. Then, boom, 15 million shares. It's not often you see a tape like this"
More Indexing: An ETF gets too big
ETFs are the new bond kings

Too much housing
05/14/17   6:51 PM ESTReal Estate
"Don't let the mushrooming condos downtown fool you. There is no housing shortage in Toronto, says new planning research out of Ryerson University."
More Real Estate: Fortress fails to silence critic
Corruption in Canada

The bet with Buffett
05/07/17   9:51 PM ESTBuffett
"Ted and I discuss the origins of the bet, the nuances beneath the headlines, and whether he'd make the bet again for the next ten years. Along the way, we cover many hot topics like hedge funds, alternatives, fees, and indexing." [audio]
More Buffett: Berkshire Hathaway AGM
Warren talks Todd and Ted

Index fund contrarian
05/07/17   9:49 PM ESTFunds
"Global value investor David Winters takes on index funds, saying they are more expensive, less diversified and higher risk than commonly believed." [video]
More Funds: O'Shaughnessy and O'Shaughnessy
DFA Funds and fees

ETF labelling
05/07/17   9:33 PM ESTHallett
"Accurate labelling has long been a problem in retail investing. This issue is about to bubble up for ETFs"
More Hallett: Scalability challenges
High-payout fund trickery

An ETF gets too big
04/23/17   8:33 PM ESTIndexing
"Can an exchange-traded fund get too big for its index? That's the question investors in one popular gold miner ETF are grappling with after rapid asset growth pushed it to significantly deviate from its underlying index."
More Indexing: ETFs are the new bond kings
The permanent portfolio

ETFs are the new bond kings
04/09/17   6:48 PM ESTIndexing
"Exchange-traded funds are transforming debt markets as big investors use them in ways considered crazy a few short years ago."
More Indexing: The permanent portfolio
Latest crop of fixed-income ETFs

The permanent portfolio
03/26/17   3:34 PM ESTIndexing
"The Permanent Portfolio strategy is about as promising as any that I have seen for preserving the value of assets through a wide number of macroeconomic scenarios. The volatility is low enough that almost anyone could maintain it. Finally, it's pretty simple. Makes me want to consider what sort of product could be made out of this."
More Indexing: Latest crop of fixed-income ETFs
The momentum index

Latest crop of fixed-income ETFs
03/26/17   3:22 PM ESTIndexing
"Another panel member, Mark Yamada, president of Toronto-based PUR Investing Inc. says Vanguard is mostly filling in gaps in their product lineup but there were a couple of surprises. While Vanguard is the acknowledged cost leader, at least one competitor has fixed-income ETFs with slightly lower fees."
More Indexing: The momentum index
Charley Ellis interview

Pension crisis
03/26/17   3:16 PM ESTGovernment
"The question is why haven't the headlines presaged pension implosions? As was the case with the subprime crisis, the writing appears to be on the wall. And yet calamity has yet to strike. How so? Call it the triumvirate of conspirators - the actuaries, accountants and their accomplices in office. Throw in the law of big numbers, very big numbers, and you get to a disaster in a seemingly permanent state of making. Unfunded pension obligations have risen to $1.9 trillion from $292 billion since 2007."
More Government: Of milk cows and moats
If you build it

O'Shaughnessy and O'Shaughnessy
03/26/17   3:13 PM ESTFunds
"My guest this week is my father, Jim O'Shaughnessy. He was a pioneer in quantitative equity research, part of an early group of explorers who combed through data to find factors which predicted future stock returns." [audio]
More Funds: DFA Funds and fees
Risky risk ratings

Best mutual fund disclosure
03/19/17   8:39 PM ESTZweig
"While the long-term bias in stock prices is upward, stocks enter a bear market with amazing regularity, about every 3 - 4 years. It goes with the territory. Expect it. Live with it. If you can't do that, go bury your money in a jar or put it in the bank and don't bother us about why your investment goes south sometimes or why water runs downhill."
More Zweig: A portrait of Jason Zweig
Jason Zweig interview

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