Search found 898 matches

by tidal
07 Sep 2006 12:00
Forum: Financial Planning and Building Portfolios
Topic: The cost of owning the average mutual fund
Replies: 283
Views: 78266

A show of hands... Have you ever been charged front or back end load of 9%, 10%, or 13% on your mutual funds (not including the MER)? Anybody? Oh right, let's not let measely details get in the way of a good cause. Carry on... Is that what they are contending is normal practice? Then, yeah, it is a...
by tidal
07 Sep 2006 11:28
Forum: Financial Planning and Building Portfolios
Topic: The cost of owning the average mutual fund
Replies: 283
Views: 78266

As Jon notes in his two most recent blog entries "And our consumers? They’ll continue to be chumps, except for the minority that insists on low-cost investments." and (regarding IFIC) "My bet is they’ll opt to forget all about it. Their historic response to books and other sources of criticism of th...
by tidal
28 Aug 2006 18:18
Forum: Financial Planning and Building Portfolios
Topic: The cost of owning the average mutual fund
Replies: 283
Views: 78266

Expensive, eh?

Expensive, Eh? Article url above is about the previously cited study: “Mutual Fund Fees Around The World" updthread... Article won't remain posted for long (a day or two...); nothing new relative to the study, but some amusing quotes: "But we can be thankful for one thing: At least we’re not Canadi...
by tidal
25 Aug 2006 10:32
Forum: Financial News, Policy and Economics
Topic: LATEST SPIVA REPORT
Replies: 130
Views: 40575

Latest Canadian SPIVA report is out...

Latest Canadian SPIVA report is out... Index Versus Active Funds Scorecard for Canadian Funds, Second Quarter 2006 "Over longer time periods, we continue to observe indices outperforming a majority of active funds. Over the past five years, 13.9% of actively managed Canadian Equity funds have outper...
by tidal
22 Aug 2006 14:16
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: "Lampert knows value premium when he sees it-you should
Replies: 21
Views: 2672

For those concerned about the performance of the XDV relative to various mutual funds above... The big 10 or so of Canadian dividend funds have averaged about 5.05% year-to-date... (as of August 21), ranging from about 2.88% to 6.96%... (I am excluding TD Dividend Growth which is > 11% Canadian Oil ...
by tidal
22 Aug 2006 13:53
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: "Lampert knows value premium when he sees it-you should
Replies: 21
Views: 2672

You know what, I stand corrected (sort of - splits still don't matter...) Their total universe is the top 95% market cap of all Canadian stocks... then they RANK by YIELD and choose the top 30... then they WEIGHT those 30, apparently by their simple INDICATED ANNUAL DIVIDEND... A company’s weight in...
by tidal
22 Aug 2006 13:31
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: "Lampert knows value premium when he sees it-you should
Replies: 21
Views: 2672

The weighting is simply by dollar value of the dividend, not yield: a $1 dividend counts twice as much as a $0.50 dividend. We went through that on this thread. and in that thread, Shakespeare wrote: The pdf giving the methodology is here. It says the weighting is determined by the indicated annual...
by tidal
22 Aug 2006 13:19
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: FTSE RAFI Canadian Index ETF to launch 22Feb06
Replies: 114
Views: 30145

new iShares Paper: MktCap v Fund v EqWt Indx

Insights on Market Capitalization and Fundamental-Weighted Indexes Granted, BGI/iShares has a vested interest in the debate (although nothing is preventing them from introducing their own fundamental or eq-wt indices and other than the dividend products, they seem to be in no rush...)... Neverthele...
by tidal
17 Aug 2006 10:09
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Cdn Value vs Glamour Stock Returns & the Value Premium 8
Replies: 0
Views: 602

Cdn Value vs Glamour Stock Returns & the Value Premium 8

"In conclusion, the evidence from Tables 6-9 strongly rejects the risk-based explanation of the value premium. On the other hand, we have seen evidence in support of the errors-in-expectations explanation." Value vs. Glamour Stock Returns and the Value Premium: The Canadian Experience 1985-2002 Geo...
by tidal
16 Aug 2006 17:18
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: "Lampert knows value premium when he sees it-you should
Replies: 21
Views: 2672

[quote="Bylo Selhi
It was BARRA. The link has summary data going back 10 years.[/quote]

Thanks for that link. I had forgotten it. That data still doesn't look as "rich" as the G&M article...
by tidal
16 Aug 2006 16:51
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: "Lampert knows value premium when he sees it-you should
Replies: 21
Views: 2672

"Lampert knows value premium when he sees it-you should

Not sure whether this belongs in the "fundamental indexing" thread or elsewhere. Anyhow... There is a rather stunning article in today's Globe and Mail (apparently not available on 'net, at least not yet...) In it, Dr. George Athanassakos, the "Ben Graham Chair in Value Investing" at the Richard Ive...
by tidal
16 Aug 2006 13:46
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: URL Year By Year Returns For All Indexes Last 10 YRS
Replies: 13
Views: 1876

Re: URL Year By Year Returns For All Indexes Last 10 YRS

Looking for a web site that shows year by year annual returns for all actual indexes - going back at least 10 yrs. Unfortunately Globefund just goes back 7 yrs. This site is excellent and interactive, and you can ask for the annual returns... although they are reported in $USD.... http://www.indexu...
by tidal
16 Aug 2006 11:43
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: FTSE RAFI Canadian Index ETF to launch 22Feb06
Replies: 114
Views: 30145

ISTM that the really big change for some of the proponents is the acceptance that the market is not perfectly efficient. I don't think that is much of change at all. I think that almost all of the "proponents" allow that markets aren't perfectly efficient, and have for some time. For instance, here...
by tidal
15 Aug 2006 10:22
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Ask Robert Arnott a Question
Replies: 6
Views: 1523

Real Money Rides on Bet on Basics of Investing Interesting article in today's New York Times regarding the "Fundamental Indexing" debate... Bogle and Siegel have at it... “We should be shifting to another paradigm to look at how markets work,” Mr. Siegel said in an interview. “I don’t think the pri...
by tidal
11 Aug 2006 13:49
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Ask Robert Arnott a Question
Replies: 6
Views: 1523

I am quite interested in the "Fundamental vs. Market-Cap" indexing debate. The one thing I don't "get" is why the "fundamental" weighted portfolio should be anymore "correct" than the "market cap" weighted portfolio. And I am going to provide an example below, after a quick preamble. What Arnott et ...
by tidal
11 Aug 2006 09:50
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: US Hedge funds: 8,000; US Taco Bells: 6,010
Replies: 0
Views: 601

US Hedge funds: 8,000; US Taco Bells: 6,010

Loved this factoid from an article in the most recent Fortune Magazine: "Last year 1,000 or so (hedge) funds went belly-up. But around 2,100 new ones started, bringing the grand total to over 8,000, up from 600 ten years ago. (At presstime there were 6,010 Taco Bells in the U.S. Just FYI.)" Start Yo...
by tidal
02 Aug 2006 16:57
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Thick as a BRIC
Replies: 24
Views: 7500

At last week's annual pilgrimmage to the Templeton Growth Fund meeting, Mark Mobius showed a chart of the populations of BRIC nations vs developed countries. At the top were China and India, each with more than 1 billion peple. Then there was the EU, followed by the US, both with roughly 300 to 400...
by tidal
02 Aug 2006 16:15
Forum: Financial News, Policy and Economics
Topic: WSJ:Fees May Be Costing Wall Street Edge In Global IPO Mkt
Replies: 0
Views: 965

WSJ:Fees May Be Costing Wall Street Edge In Global IPO Mkt

fwiw.... From today's Wall Street Journal (Allan Reynolds, A2): excerpts follow, full article at http://online.wsj.com/article/SB115447600111223990-search.html?KEYWORDS=ipos&COLLECTION=wsjie/6month Fees May Be Costing Wall Street Its Edge In Global IPO Market <<Is Wall Street having its Detroit mome...
by tidal
02 Aug 2006 15:57
Forum: Financial Planning and Building Portfolios
Topic: friend has only
Replies: 15
Views: 2418

What I really don't understand is the apparent lack of knowledge on the part of a "professional" advisor in the area of portfolio construction. Was he/she alseep when this was being taught. :? It is taught very superficially at best. And, to the extent that is touched upon, it is then largely disca...
by tidal
02 Aug 2006 15:44
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Thick as a BRIC
Replies: 24
Views: 7500

At last week's annual pilgrimmage to the Templeton Growth Fund meeting, Mark Mobius showed a chart of the populations of BRIC nations vs developed countries. At the top were China and India, each with more than 1 billion peple. Then there was the EU, followed by the US, both with roughly 300 to 400...
by tidal
01 Aug 2006 13:19
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Thick as a BRIC
Replies: 24
Views: 7500

Dilution Is a Drag… Impact of Financings in Emerging Markets

For what it is worth, I think this is the "Speidell, et al" article that Bernstein references, although he indicated that it was in the Journal of Investing, not CFA Digest... http://www.cfapubs.org/doi/abs/10.2469/dig.v36.n2.4110;jsessionid=ozRAq3vvznqcU9qSkZ?journalCode=dig 30% dilution per annum?...
by tidal
01 Aug 2006 12:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Thick as a BRIC
Replies: 24
Views: 7500

Thick as a BRIC

The latest from Bill Bernstein (of Efficient Frontier) Thick as a BRIC http://efficientfrontier.com/ef/0adhoc/bric.htm <<"You say you’re invested in fuddy-duddy old nations like the U.S., France, Japan, Australia, Canada, and Sweden? Good grief, man, their slice of the global investment pie is shrin...
by tidal
28 Jul 2006 11:31
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Currency Neutral, Hedged vs Unhedged - Questions
Replies: 73
Views: 15122

Literature re: ideal allocations between domestic / foreign?

This is a subject I am quite interested in - i.e. how much an investor should allocate to his domestic market versus foreign markets. I actually posed this question at the Diehards forum on Morningstar. http://socialize.morningstar.com/NewSocialize/asp/FullConv.asp?forumId=F100000015&convId=173050 T...