Roger Nusbaum | TalkMarkets | Page 14
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Roger Nusbaum brings 30 years of investment industry experience into his newest role as ETF Strategist at AdvisorShares. For many years the Random Roger blog has focused on portfolio construction, behavioral finance, the need for innovative retirement solutions and ETF thought leadership related ...more

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Simplicity In All Things Including Portfolio Management
A basic stock and bond portfolio is a great starting point for building an effective portfolio. Exposure to things like factors and alternative strategies will enhance a basic stock and bond portfolio, not attempt to replace it.
The Art Of Doing Nothing
Simple does not mean do nothing, I don’t believe in set and forget. To me, simple means easily explained with a simple, active strategy that will require some, but hopefully not a lot, of trading.
It’s Getting Real In The Fixed Income Market
The parts of the income market that should be relatively safe to own have in fact been relatively safe as rates have been rising over the last six weeks.
Are Robo Advisors Really Dying?
The robo concept was new and potentially useful with the promise of profitability there was always going to be larger players that would enter the market, this is the sort of thing where first movers can’t necessarily maintain their advantage.
Calls For Poor Returns Or A Call To Action?
During the 2000’s there were some very good years. In 2003 the S&P 500 was up about 25%, another 10% in 2004, 2006 was also double digits and of course 2009 was up a ton as well. There were some flat years and a couple of terrible years.
Governments Are People Too
It turns out the relationship between the Norwegian government and the Government Pension Fund of Norway (that country’s sovereign wealth fund) is a lot like an emotional client and his advisor.
Managing Obvious Risks
Closed end bond funds are course very popular for retail accounts. They generate very high payouts thanks to the use of leverage and the willingness to return capital to maintain the payouts.
Can You Rationally Process Market Events?
This concept is magnified during large declines as an advisor must be the voice of calm. Declines are inevitable, a normal part of the stock market cycle. The circumstances will be different but the market manifestation is always the same.
No, You Shouldn’t Invest Like Yale
The Yale University endowment recently announced its return for the year ending June 30th, 2016 as well as its asset allocation targets for the current year.
Allocation Efficiency
Risk parity weights exposure to the asset classes such that it attempts to balance out the risk of being in those asset classes. This means bonds have a much greater weighting than equities to the point of using tremendous leverage.
Eight Brutal Truths About Retirement
Retirement has evolved into something much different than it used to be, at least for most people. With the time horizon that more people will have at 60 or 65, retirement can really be thought of as the start of something not the end of something
Is Now The Time To Be Bullish?
For most if not all of the bull market the CAPE has been relatively high compared to long term averages and while this has been part of the bear case, the market has continued to work, or at least grind, higher.
Is Barron’s Right About Options Funds?
Options funds are typically equity portfolios with some sort of options overlay that attempts to smooth out the ride when compared to a broad based equity portfolio, not a fixed income portfolio.
Alternative Context
Equities will continue to repeat the bull and bear cycle, so investors who continue to be close to the market, maintain an adequate savings rate and don’t panic the next time the market cuts in half.
The Worst Months Of The Year!
In late July Bespoke Investment Group posted a table of average returns for the Dow Jones Industrial Average for each of the 12 months of the year.
This Is The New Normal
As the world was rolling over into financial crisis in 2008 the stewards at PIMCO coined the phrase New Normal which, very short version, meant low interest rates, very slow growth and in a word; malaise.
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