Weekend Reading – Vanguard’s Outlook For 2024 And Beyond

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:

People calculate too much and think too little

INVEST WISELY

CONSTRUCT YOUR PORTFOLIO

Beyond the Hype - Bitcoin's potential role in a portfolio (Bankeronwheels.com)

With a wave of U.S. Spot Bitcoin ETFs on the horizon, and a potential SEC approval, Bitcoin may take a place in some portfolios.

This article looks at the limited data – only a decade long – and tries to make sense of this asset from a portfolio perspective, if you decide to give it a go.

[Read our article]

Vanguard's outlook for 2024 (Vanguard)

Vanguard has said for more than a year that a return to sound money was underway. In the meantime, the transition to a higher interest rate environment no doubt has challenged investors, who have endured historical losses in bonds and high volatility in stocks. They believe that this structural shift, which will endure beyond the next business cycle, is the single best economic and financial development in the last 20 years.

Read more on Vanguard

UNDERSTAND FINANCIAL MARKETS

HOW TO INVEST

Active Investing

FACTOR investing

A quant winter’s tale (FT.com)

One of the best pieces about Factor Investing in a while.

Available for free on Financial Times.

Read more on Ft.com

The Case Against Factor Investing (Advisor Perspectives - 31 min)

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Investing in “smart beta” was the rage in the early 2000s, as small-cap-value stocks vaulted over large-cap-growth stocks. But like all supercharged investment strategies, it didn’t last. Factors premiums have not materialized since the financial crisis. Here is the case for and against factors in this interview with long-term investment adviser, Rick Ferri.

discretionary investing

The Difference Makers: Key Person Value (Aswath Damodaran - 42 min)

In small businesses, it is common to apply what is called a “key person” discount to appraised value. Aswath looks at the variety of people who can be key to an organization’s value (from founder/CEOs to celebrity spokesperson), before creating value and pricing frameworks for valuing/pricing their presence. He also looks at how businesses can manage key person risk, why it can vary across businesses and implications for employee compensation.

ALTERNATIVE ASSET CLASSES

Why Is Vanguard Pitching Margin Loans? (Morningstar)

A long-time Vanguard investor received an email encouraging him to consider opening a margin account. The email included a link to a 20-page paper that explains both the workings of a margin account and the dangers entailed. I am pleased to report that the document thoroughly reflects Vanguard’s tradition of communications: detailed, sober, somewhat dull, and complete.The author does, however, have three questions.

Read more on Morningstar

WALL STREET

SUSTAINABLE investing

crypto

BAD BETS

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ETFs

UCITS ETFs

NTSX in Europe - A deep dive (Italian Leather Sofa)

Return Stacked ETFs, are innovative financial products that have recently become available in Europe. These ETFs operate on the principle of “Return Stacking,” which involves layering one investment return on top of another to achieve more than $1.00 of exposure for each $1.00 invested. While you may find the concept intriguing and potentially more capital efficient, it’s crucial to understand that these are complex, leveraged products not suitable for the majority of investors. 

Read more on Italian Leather Sofa

Robeco is stepping into the European ETF market with a focus on active funds. The Dutch asset manager, which has €181bn assets under management, is planning to launch its first UCITS ETFs in Q2 2024. [FT.com]

Xetra has seen the launch of 3 new fixed income ETFs by the German asset management group DWS. The ETFs provide ultra-short-duration exposure to bonds from issuers of Eurozone sovereigns. All the ETFs have a 0.07% fee. [ETFStrategy.com]

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]

A Bankeronwheels.com Service
Take Control of Your Financial Future: Custom Coaching for Cost-Savvy Investing

Confused about asset allocation? Rethinking your portfolio strategy? Wondering how much you can safely withdraw for a seamless transition to part-time work or retirement?

Personalised guidance can often be the key to overcoming your investment dilemmas. At the request of our readers, we’ve launched a tailored coaching service designed to address your unique financial needs. Our readers have found such profound value in our sessions that they’ve confidently moved on from their traditional – and often very expensive – Financial Advisors.

A Bankeronwheels.com SERVICE

Take Control of Your Financial Future: Custom Coaching for Cost-Savvy Investing

Confused about asset allocation? Rethinking your portfolio strategy? Wondering how much you can safely withdraw for a seamless transition to part-time work or retirement?

Personalised guidance can often be the key to overcoming your investment dilemmas. At the request of our readers, we’ve launched a tailored coaching service designed to address your unique financial needs. Our readers have found such profound value in our sessions that they’ve confidently moved on from their traditional – often very expensive – Financial Advisors. 

Wealth Management

Personal Finance

Early Retirement

Dan Haylett: Retirement Planning = Life Planning (Morningstar - 53 min)

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A U.K.-based financial advisor discusses why people over 50 are often underserved by the financial-services industry, ways to ease into retirement, and what it means to be a ‘retirement rebel.’

FINANCIAL PRODUCTS

COST OF LIVING

OUR Community

Question of the week

[democracy id="2"]

DESIGN YOUR LIFESTYLE

Personal Development

The stoic art of not caring what people think (The daily stoic - 17 min)

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In this episode, Ryan outlines the Stoic strategies that you can use in your daily life to stop caring about what other people are thinking. Epictetus liked to joke that when someone unfairly criticizes you, feel grateful that they didn’t point out your real flaws. Trying to control other people’s opinions was like trying to control the weather—and public life guarantees public scrutiny.

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Health & Wellness

CAREERS

TECH AND SCIENCE

An Introduction to AI for everyone (Andrej Karpathy - 1 hr)

This is a 1 hour general-audience introduction to Large Language Models: the core technical component behind systems like ChatGPT, Claude, and Bard. What they are, where they are headed, comparisons and analogies to present-day operating systems, and some of the security-related challenges of this new computing paradigm.

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.

🎁 In the first email, you can download a FREE comprehensive 2-page checklist to construct & monitor your portfolio and clean up your personal finances.

miscellaneous

9 Must Read Books - Visual Summary (Investment Books (Dhaval))

From Atomic Habits to Think Twice, explore the key lessons across 9 books through bite sized visual summaries

Read more on Investment Books (Dhaval)

OUR Community

Last Week We asked you

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Each week we go through hundreds of articles, some submitted directly to us via this form, and through social media. Share your discovery with the community.

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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.