Weekend Reading – Asset Class Returns since 1970 & Trend Following Strategies

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:

On average, 90 percent of the variability of returns and 100 percent of the absolute level of return is explained by asset allocation.


ETF Fee Calculator (Banker on Wheels)

We created the ETF Fee Calculator as an interactive tool designed to help investors understand the impact of fees on their ETF investments. Users can input details about their ETFs, such as expense ratios and investment amounts, and the calculator will project the total cost over time, demonstrating how fees can erode potential returns. This tool is especially valuable for visualizing long-term investment outcomes.

[Read our article]

Portfolio Construction

Asset Allocation

Vanguard’s approach to managing target-date funds (Vanguard)

Vanguard TDFs are constructed using fundamental investment principles to
offer the best opportunity of delivering clients’ desired retirement outcomes. Vanguard applies portfolio construction best practices that balance market, inflation, and longevity risks in an efficient and transparent manner over an investor’s life cycle.

Read more on Vanguard


Visualizing the Growth of $100, by Asset Class (1970-2023) (Visual Capitalist,

Which major asset class has generated the strongest returns over the long run? How do the returns of investments like bonds and real estate actually stack up?

To put investment returns in perspective, this graphic shows the growth of $100 by asset class over the long term, based on data from Aswath Damodaran at NYU Stern.

Not only were U.S. stocks the top performing major asset class, they outpaced other investments by a wide margin. Consider how a $100 investment in corporate bonds would have grown to $7,775 over the period, or 65% lower than an investment in the S&P 500.

Read More on Visual Capitalist


Here are a few things I would’ve thought were hard for investors to believe simultaneously. I would’ve been wrong (AQR)

Here are a few things I would’ve thought were hard for investors to believe simultaneously. I would’ve been wrong…

1) International diversification stinks for U.S. investors…

2) Not owning the bad companies (however you define ESG) is making the world a better place…

3) Investing in privates makes us more patient, better investors because, 

Read more on AQR

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Spread the Golden Retriever Wisdom Across Europe & the UK 😎

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Active Investing

FACTOR investing

Factors Olympics: Q1 2024 Performance (Finominal)

We present the performance of five well-known factors on an annual basis for the last 10 years. Specifically, we only present factors where academic research supports the existence of positive excess returns across market cycles and asset classes.

Read more on Finominal

Meb Faber talks with Cliff Asness who is the Founder, Managing Principal and CIO at AQR Capital Management. (Meb Faber - 1 hr 3 Min)

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In today’s episode, Cliff & I start by talking about some quotes he may or may not have said in the past. Then we kick around a bunch of topics. We talk about diversifying by both asset class and geography, the challenge of managing short-term expectations while keeping a long-term perspective, and how AQR is implementing AI and machine learning in their investment process.

discretionary investing

The AI Bubble Thesis with Doug Clinton (Excess Returns - 60 Min)

AI stocks have seen a big run recently. This has led many fundamental-based investors to suggest that things have gotten ahead of themselves. Some have even suggested AI is already in a bubble. But what if we are still in the early innings? What if a bubble is just getting started that could eventually exceed the dotcom bubble? Those are the questions we tackle this week with Deepwater’s Doug Clinton.


How alternatives can diversify a portfolio (Morningstar)

Not all alternatives offer the same diversification benefits—and even when correlations look high, the degree of market sensitivity makes a big difference here. In our recently published 2024 Diversification Landscape report, Amy Arnott, Christine Benz, and I took a deep dive into how different asset classes performed in the past couple of years.

Read more on Morningstar


Visa Inc. - World’s Largest Credit Card Company | A Finance Documentary (FinAIus - 39 Min)

Meet The King of Credit Cards – the world’s largest credit card company! This is the story of Visa’s ascent to global dominance in the financial world. Exploring its origins, innovations, and controversies, we will have an insightful look into the power dynamics and challenges within the credit card industry, highlighting Visa’s unparalleled influence and impact.





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Cheapest UCITS Small Cap ETF: Invesco cuts fees on four ETFs (ETF Stream)

Invesco has slashed the fees of four equity and bond ETFs including its $65m Russell 2000 ETF as it looks to boost demand. The US giant reduced the fees on the Invesco Russell 2000 UCITS ETF (RTYS) from 0.45% to 0.25%, making it Europe’s lowest cost ETF to track the US small-cap index, undercutting rivals State Street Global Advisors (SSGA), DWS and Amundi.

Read more on ETF Stream

New UCITS ETF launches

1Amundi Prime All Country World UCITS ETF0.07%IE0009HF1MK9
2Xtrackers MSCI World ex USA UCITS ETF 1C0,16%IE0006WW1TQ4

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.

Zoom in the image


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]

Wealth Management

Personal Finance


Freetrade Review – An ETF-Friendly Platform (Banker on Wheels)

Freetrade markets itself as an ETF-friendly platform with very competitive pricing for SIPPs and General accounts. It caters well to investors who want a simple portfolio as well as investors that may be interested in trading on European and U.S. exchanges. More advanced investors may find limitations depending on their sophistication and needs.

[Read our methodology]

Early Retirement

Personal Development

Health & Wellness

CAREERS & Entrepreneurship

Average Wages Across Europe (Visual Capitalist)

Much and more has been written about the best countries in Europe to visit, sight-see at, or vacation in.

But the economic powerhouse of a continent also has eight of the top 20 largest economies, the biggest single-market area, and some of the richest countries in the world.

How does all of that translate into how much people earn across the continent?

We visualize the average hourly salary (in euros), across Europe in a heatmap. The bluer the hue, the higher the hourly salary. Data for this visualization comes from Eurostat and is current up to 2023.

Read more on Visual Capitalist


Interactive Brokers




Our interactions with hundreds of investors revealed two trends: Index investing forms the backbone of their portfolios, and Interactive Brokers emerges as the go-to platform for a majority of investors.


As of 29/03/2024, Interactive Brokers offers rates up to 4.738% (GBP), 3.445% (EUR) and 4.83% (USD) on cash. 


As of 29/03/2024, Interactive Brokers offers rates up to 4.738% (GBP), 3.445% (EUR) and 4.83% (USD) on cash. 



The Ebb and Flow of the Baja Divide (Bikepacking.com)

For his first solo bikepacking trip, Tom Norman braved the rugged Baja Divide route in Mexico. His unforgettable ride provided an unending mix of surpassed expectations and dramatic twists and turns amid the unforgiving desert terrain. In this piece, he shares some of the many highs, lows, and surprises he experienced along the way. Find his story and a sensational photo gallery from the picturesque route here.Read more on Bikepacking.com

Tech & Economy



From Bankeronwheels.com
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