Weekend Reading – Vanguard’s 10-Year Market Outlook
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.
Invest Wisely section is dedicated to research on how to invest for the Long Run using Passive Investment Strategies. Read Topics related to (i) Portfolio Construction and Asset Allocation (ii) Acting wisely by avoiding behavioural traps and also (iii) publications that help understand how financial markets work.
Active Investing section relates to improving your knowledge about active investing. If you decide to sin, then sin only a little. Given ample evidence, combined active bets should be ideally a relatively small fraction of your portfolio. This section also includes Sustainable Investing. You can invest in a Socially Responsible way, but there are many ESG traps. Learn how to invest sustainably, and what it means for expected returns, with our definitive guide to sustainable investing.
Personal Finance section is dedicated to UK and European Products. It can also touch on other European jurisdictions outside the Euro-zone.
- Recommeded Reading
- Youtube (Required watch time)
- Podcast (Listening Time)
- Academic Research - May require intermediate/advanced knowledge
- Noteworthy Twitter Thread
Information is everywhere but its meaning is created by the observer that interprets it. Meaning is relative and there is no objective, over-arching meaning
INVEST WISELY
CONSTRUCT YOUR PORTFOLIO
Riding the Rate Rollercoaster: How Do Bond ETFs Thrive in a Turbulent Interest Environment? (Bankeronwheels.com)
By Retail Investors, Bonds are quite often labelled as ‘uninteresting’, to put it mildly. But Bonds play an essential role in the overall success of your investment strategy. In June 2007, the 10-Year US Treasury yield stood at 5%. Over the following 18 months, the S&P 500 lost almost 40%. Yet, US Bonds returned 12%. During the Dot Com crash, US Bonds returned 34% over 3 years, with a starting yield of only 6.5%. How was this possible?
- When Do Stocks and Bonds Move Together, and Why Does it Matter? (Econ Fact)
- Should I Buy a Bond or a Bond Fund? (Morningstar - 16 min)
- With a handful of mega-cap stocks now dominating the S&P 500, investors should actively work to diversify their portfolios (Morgan Stanley)
- Why commodities may belong in your portfolio (Monevator)
- Goals based planning, modelling human capital, alpha in a post CAPM world & the future of the 60/40 portfolio (Excess Returns - 1 hr 3 min)
- Structured products can offer opportunities and customization but also come with risks and complexities (Rational Reminder - 1 hr 9 min)
HOW TO INVEST
- Navigating a down market (Vanguard)
- Active Funds: Why Wealthy People Continue To Invest In Them (Financial Samurai)
- Costs are certain, so what happens when you remove the costs? (Joachim Klement)
- 30 reasons to fall in love with index funds (Paul Merriman)
- Do we invest like our family members? (Alpha Architect)
UNDERSTAND FINANCIAL MARKETS
- Vanguard’s updated 10-year outlook for financial markets (Vanguard)
- The relative outperformance of U.S. stocks over their international counterparts isn’t sustainable in the long run, according to asset manager AQR. (Institutional Investor)
- Diversification versus Hedging - Same, same, but different? (Finominal)
- Are We on the cusp of a multi year high interest rate era? (Bloomberg - 42 min)
- A World Without Active Funds? Boring and Maybe Dangerous (Morningstar)
- Does it Really Matter if a Fund Manager Has ‘Skin in the Game’? (Behavioural Investment)
ACTIVE INVESTING
FACTOR investing
Andrew Beer and Tim Pickering debate on some of the most important changes that we are seeing in the CTA industry. They discuss how ETFs can be used in the CTA industry and the pros and cons of using indices to represent manager performance, why Tim and Andrew are fundamentally different in how they approach the way retail investors can access CTA strategies and how they disagree on the definition of “pure alpha”, the use of replication strategies and much more.
- The Quality Factor Spectrum (GMO)
- Rob Arnott on his high conviction on UK Value Stocks being "the trade of the decade" (Bloomberg - 49 min)
- The Cross-Section of Factor Returns (Robeco Qauntitative Investing)
- Value does just fine in recessions (GMO)
- How Frequently Should You Rebalance a Factor Portfolio? (Vanguard)
- Portable alpha & risk mitigating strategies with Meketa's Jason Josephiac (Flirting With Models - 57 min)
AQR's Cliff Asness forewarns those with equity exposure of systematic risk (Bloomberg - 24 Min )
AQR Founding Managing Principal and Chief Investment Officer Cliff Asness says he thinks equities could be a “scary place” in the event of a US recession. The legendary quant investor also takes a victory lap on “Bloomberg Wealth with David Rubenstein” after AQR’s bet on value finally paid off in 2022 after years of losing to growth stocks.
STOCKS
- Can Chat GPT help you read financial statements? (Alpha Architect)
- Seeking Persistent Growth in Technology Investing with Deepwater’s Gene Munster and Doug Clinton (Excess Returns - 56 min)
- The AI Arms Race - Who's Winning? (Morningstar)
- Apple's new headset won't bag millions of customers (Morningstar)
- Nvidia joins the trillion dollar club - Visualisation (Visual Capitalist)
ALTERNATIVE ASSET CLASSES
- Democratizing Private Equity (Meb Faber - 1 hr 8 min)
- The Hidden Cost of Covered Call Writing (CAIA Association)
- What Is Bitcoin Worth? (Morningstar)
- In conversation with an non crypto prop trader painting similarities from a research, operations and risk management perspective (Flirting With Models - 1 hr)
WALL STREET
SUSTAINABLE investing
crypto
BAD BETS
- Zero Day Options: The risks and returns of selling lottery tickets (Verdad)
- Investors who try to time the market in search of better returns often end up damaging their results. (Humble Dollar)
- Tactical allocation funds of funds would have earned twice as much if their managers didn’t trade over the past decade. (Morningstar)
From Bankeronwheels.com
Get Wise The Most Relevant Independent Weekly Insights For Individual Investors In Europe & the UK
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.
PERSONAL FINANCE
Wealth Management
- Weddings and divorce: the scourge of investment returns (FT)
- How inflation is widening the divide between public and private sector retirement incomes - and what you can do about it (This is money)
- Wannabe Financial Coaches: bridging the advice gap or a new danger? (FT.com - click on the first link)
- How to shift from impulsive to intentional spending (Contessa Capital Advisors)
- Wealth: Five Formulas and a Recipe - A Blueprint for Flourishing (Sapient Capital)
Michael explains the evolution of financial advice and how AI might impact the profession going forward. He starts with the background on the evolution of financial advice from the 1960s to present and ways consumers benefit from financial advisors moving up the value chain and how AI might disrupt the financial advice profession.
FINANCIAL PRODUCTS
COST OF LIVING
OUR Community
Question of the week
From Bankeronwheels.com
Today's prices are not coming back!
In 2024, we will be increasing coaching service prices.
Sometimes individual sessions are very helpful to get past your investing concerns. Our readers asked us to create a coaching service. And we’re proud to say, that some of them even ditched their Financial Advisors, after experiencing the value we provide. Some of the topics we recently discussed include:
- How much money do I need to retire with higher inflation?
- Medium Term or Long Term Bonds with today’s yields?
- Risks and Returns of Money Market Funds
- Asset Allocation for 10-15 year goals with narrowing returns between Equities &Bonds
- Merits of UK Trusts that invest in unlisted companies
- Traps with choosing brokers – PFOF & Risks of moving to another country
- International Situations – Choosing ETFs when leaving Europe
From Bankeronwheels.com
Today's prices are not coming back!
In 2024, we Will be increasing coaching service prices.
Sometimes individual sessions are very helpful to get past your investing concerns. Our readers asked us to create a coaching service. And we’re proud to say, that some of them even ditched their Financial Advisors, after experiencing the value we provide. Some of the topics we recently discussed include:
- How much money do I need to retire with higher inflation?
- Medium Term or Long Term Bonds with today’s yields?
- Risks and Returns of Money Market Funds
- Asset Allocation for 10-15 year goals with narrowing returns between Equities & Bonds
- Merits of UK Trusts that invest in unlisted companies
- Traps with choosing brokers – PFOF & Risks of moving to another country
- International Situations – Choosing ETFs when leaving Europe
DESIGN YOUR LIFESTYLE
Personal Development
Health & Wellness
CAREERS & REMOTE WORK
EARLY RETIREMENT
Travel
From Bankeronwheels.com
Get Wise The Most Relevant Independent Weekly Insights For Individual Investors In Europe & the UK
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.
TECH
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(* Wheels & Dividends)
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All information found here, including any ideas, opinions, views, predictions expressed or implied herein, are for informational, entertainment or educational purposes only and do not constitute financial advice. Consider the appropriateness of the information having regard to your objectives, financial situation and needs, and seek professional advice where appropriate. Read our full terms and conditions.
