Weekend Reading – Confused About Brokers? Here is how to categorise them.
Weekend Reading is a collection of Investment Research and Lifestyle topics from all corners of the Web. We source the highest quality insights from Wall Street and Main Street that you may apply to your investment process. Unlike the rest of Bankeronwheels.com, this series is provided without additional guidance. As usual, everything is to be used at your own risk. Below is the type of content we shortlist:
Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity.
Portfolio Construction
Asset Allocation
Safe vs Cheap: Finding Your Broker Tribe (Banker on Wheels)
What’s the wise investor’s playbook for categorising brokers? Discover the essential 5 Broker Categories in Europe and the UK. They’re your blueprint for navigating the brokerage landscape, though remember, not all fit neatly into boxes, and your locale might tweak the game. Curious why some of the worst brokers top the charts on most broker comparison websites? We’ve got the insider scoop for you.
For your friends & family: How to start investing in 10 steps (Banker on Wheels)
A while back I was on a hike with friends and after talking about some exciting topics like cycling the world, the conversation ended up drifting towards investing. Francesca and Joanna were buzzing about Index Funds, fresh on their radar. But both were reluctant to deploy money in the Stock Market. Francesca’s cash stash was gathering dust, while Joanna swore by her home’s value. I vowed to scout a list of ETFs for them. But, sharing our trail talk might just be the golden nugget you need.
Stocks are STILL a great long-run investment! (Early Retirement Now)
Two recent papers in the personal finance area have caused enough of a stir that I’ve gotten numerous requests for comment. The first paper claims that the famous “Stocks for the Long Run” mantra is all wrong. The second paper effectively claims the opposite, namely that a 100% equity portfolio, half domestic and half international stocks, handily beats any bond portfolio and all diversified stock/bond portfolios, including life-cycle, i.e., target date funds. What’s my take?
Read more on Early Retirement Now
UNDERSTAND FINANCIAL MARKETS
- India vs China ETF Performances (Banker on Wheels)
- Is Elon Musk Right To Worry About Passive Investing? (Silveright Asset management)
- Falling active management share isn't making it easier to outperform. (Alpha Architect)
- Why Are Companies Sitting on Cash Right Now? (Harvard Business Review, Paywall)
Peter provides a data-driven analysis of what investing in stocks at an all-time high means for investors today. Listen now and learn: The significance of all-time highs in the stock market How current dynamics fit into the natural growth cycle of the market Insights into balancing risk and opportunities that lead to confident investment decisions.
HOW TO INVEST
Active Investing
FACTOR investing
- Verdad's Dan Rasmussen on quant small, cheap, levered stocks-US and Japan (The Acquirers Podcast - 58 Min)
- Implied Equity Risk Premiums (Aswath Damodaran - 1 Hr 16 Min)
- How many factors do you really need? (Joachim Klement)
- Is Your Equity Hedge Fund Portfolio Resilient Enough for Uncertain Times? (AQR)
Value investing: "The reports of my death have been greatly exaggerated" (Robeco Qauntitative Investing)
The value factor experienced a resurgence since November 2020 – We explore long-term performance and valuation spreads and provide expected returns for different scenarios – Learn about the interplay between value investing and interest rates, growth expectations, and the ‘Magnificent 7’
Read more on Robeco Quantitative Investing
discretionary investing
Dividend Funds: What separates the best from the rest? (Morningstar)
Dividend funds have a strong following, and it’s easy to understand their appeal. Dividends provide tangible cash flow to a fund’s investors and often provide regular income. This paper outlines the characteristics that typically define
each style and the trade-offs in their expected performance.
Read more on Morningstar
ALTERNATIVE ASSET CLASSES
Which factors drive high yield bond returns? (Finominal)
The correlation of high yield (HY) to investment-grade (IG) bonds has been increasing ‘ – HY bonds can simply be replicated via a combination of the S&P 500 and IG bonds ‘- Replication portfolios offer better Sharpe ratios, which makes a case against using HY bonds in asset allocation
Read more on Finominal
WALL STREET
Crown to Dust - Downfall of America's Largest Bank | Citibank Documentary. (FinAIus - 46 min)
Citibank: once a kingmaker, now a cautionary tale. Welcome to Bailout Boulevard! We dig through the wreckage of America’s largest bank, tracing the greed from Wall Street penthouses to boarded-up Main Streets. “Crown to Dust” exposes the hubris that brought an empire to its knees, leaving a nation gasping for air. Buckle up, it’s a thrilling ride you won’t want to miss.
This week, we speak with Matt Levine, Opinion columnist at Bloomberg. He is the author of Money Stuff, one of the most popular daily newsletters on Wall Street. Previously, he was an investment banker at Goldman Sachs and a mergers and acquisitions lawyer at Wachtell, Lipton.
SUSTAINABLE investing
BAD BETS
❤️🐶 Shop & Support - Celebrate our 4th anniversary! 4️⃣🎂
Spread the Golden Retriever Wisdom Across Europe & the UK 😎
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ETFs
UCITS ETFS
Overview of the US and European ETF markets by leading Issuers. (ETFBook)
ETF Book Provided an updated overview of the US and European ETF markets by leading Issuers. US ETF market: AUM $7.96 trillion – European ETF market: AUM $1.81 trillion. iShares is leading in the US, but Vanguard is closing the gap. In Europe, iShares is much more dominant.
US ETFs
BlackRock is set to launch ten ETFs focused on Treasury inflation-protected securities (TIPS). Ranging in maturity from 2024 to 2033, these ETFs will seek to provide inflation protection to investors concerned with erosion of purchasing power. The new TIPS-defined maturity bond ETFs will carry an expense ratio of 0.1%. [ETF.com]
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Wealth Management
Personal Finance
Jared’s back on the podcast to talk about his book, No Worries: How to live a stress-free financial life, which just released yesterday. Jared talks about the 80/20 rule applied to personal finance, his “no worries” approach to investing, which he calls the awesome portfolio, and I bet you’ll be surprised by which asset has performed best since 2000.
Early Retirement
Does the 4% rule still work? In our conversation, experts shed light on the intricate world of retirement income planning, dispelling misconceptions and advocating for a more nuanced approach. Unpack the complexities of investing in bonds for retirees and the evolving risk profiles of stocks over varying investment horizons.
DESIGN YOUR LIFESTYLE
Personal Development
In this episode, we are joined, for the third time, by renowned author and commentator Morgan Housel. Many of you are familiar with Morgan’s bestseller, The Psychology of Money, and he is back to discuss his latest book, Same as Ever: A Guide to What Never Changes.
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As of 29/03/2024, Interactive Brokers offers rates up to 4.738% (GBP), 3.445% (EUR) and 4.83% (USD) on cash.
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As of 29/03/2024, Interactive Brokers offers rates up to 4.738% (GBP), 3.445% (EUR) and 4.83% (USD) on cash.
Health & Wellness
CAREERS & Entrepreneurship
Noah Kagan (@noahkagan) was #30 at Facebook, #4 at Mint, and has since created seven million-dollar businesses (Kickflip/Gambit, AppSumo, KingSumo, SendFox, Sumo, TidyCal, and Monthly1k).
He is the CEO of AppSumo.com, the #1 software-deals site for entrepreneurs, and has a popular YouTube channel, Noah Kagan.
Big Tech jobs have lost their glamour (BBC)
Once the pinnacle of employment, Big Tech is finding its star tarnishing among layoffs and cutbacks. Workers across the industry are questioning their next moves. Michael says he joined his Big Tech company in spring 2021 to test himself against the best software engineers in the world. Initially it went well.
Read more on BBC
Travel
Nomad Families: Do our kids Regret not getting a "NORMAL" Childhood? (Raise at Sea - 25 Min)
Teenagers with an uncommon upbrings….what do they think about it? Here is one take “Trying to fit into “the norm” is often what causes kids and teens immense stress and anxiety. Our “traditional” upbringings are also very disconnected from nature. One could commend the video makers for being so adventurous”
Tech & Economy
economy
Something Terrible Is Happening in France (Economics Explained - 19 Min)
France’s problems arguably go back 200 years to their slow and steady approach to adopting industrialisation. While many other countries can learn from France’s strong protection for workers’ rights, at the moment this has made France a very uncompetitive country with some of the worst brain drain across the EU.
TECH AND SCIENCE
From Bankeronwheels.com
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Liked the quality of our guides? There is more. Every week we release new guides, tools and compile the best insights from all corners of the web related to investing, early retirement & lifestyle along with exclusive articles, and way more. Probably the best newsletter for Individual Investors in Europe and the UK. Try it. Feel free to unsubscribe at any time.
🎁 In the first email, you can download a FREE comprehensive 2-page checklist to construct & monitor your portfolio and clean up your personal finances.
And finally
What’s The Future For Bankeronwheels.com? 2023 Year-end Survey Results. (Banker on Wheels)
Bankeronwheels.com, born during the COVID pandemic, began as a personal blog blending cycling with investing insights.
By 2023, the blog had exceeded any growth expectations we had. Today, we want to make the blog the most impactful to our readers.
And there was no better than asking your opinion on how to bring it to the next level. Here are some takeaways from our last month’s survey.
Good Luck and Keep’em* Rolling!
(* Wheels & Dividends)
Weekend Reading – BlackRock Launches New iBonds, Truth About €1M Broker Insurance & BOW is 4 years old!
The Truth About €1 Million Broker Guarantees
4 Things I Learned In 4 Years Of Running A Finance Blog
Dodl By AJ Bell Review – AJ Bell’s Younger Brother
Vanguard LifeStrategy Review – A Retriever In A Babushka Doll
Why Do Portfolio Managers Care About Factors? It’s Not What You Think.
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