s********r
发帖数: 2067 | 1 收到一个电话咨询，对方自称是美林的全牌照投资顾问。
大力推荐他们家的personal financial service，说他们家的主力股票基金今年收益28
%，2008年最凶险的时候也只亏了22%。说该基金集中投资30-40只股票，但频繁调整仓
位。
最低认购额10万美刀。
有人用过么？
谢谢分享！ |
m**i
发帖数: 394 | 2 They are sales person.
You may try with wealthfront.
Or if you want to have more knowledge about it, read this book:
http://books.piaw.net/finance/ |
r**m
发帖数: 1825 | 3 that is because it is the bull's year.
Do you know if you just buy SP500 index, you will have the same 28% return
so far this year, and don't have to pay the much higher fee which these so
called
主力股票基金 will happily charge you?
Even if you don't want to just invest in index funds by yourself,
wealthfront or betterment are better options.
28
【在 s********r 的大作中提到】
: 收到一个电话咨询，对方自称是美林的全牌照投资顾问。
: 大力推荐他们家的personal financial service，说他们家的主力股票基金今年收益28
: %，2008年最凶险的时候也只亏了22%。说该基金集中投资30-40只股票，但频繁调整仓
: 位。
: 最低认购额10万美刀。
: 有人用过么？
: 谢谢分享！
|
m**i
发帖数: 394 | 4 Can you tell the difference between wealthfront and betterment?
Thanks!
called
【在 r**m 的大作中提到】
: that is because it is the bull's year.
: Do you know if you just buy SP500 index, you will have the same 28% return
: so far this year, and don't have to pay the much higher fee which these so
: called
: 主力股票基金 will happily charge you?
: Even if you don't want to just invest in index funds by yourself,
: wealthfront or betterment are better options.
:
: 28
|
r**m
发帖数: 1825 | 5 google is your friend.
http://www.quora.com/What-are-the-main-differences-between-Weal
【在 m**i 的大作中提到】
: Can you tell the difference between wealthfront and betterment?
: Thanks!
:
: called
|
r**m
发帖数: 1825 | 6 "The decades old debate between index fund investing and active fund
investing isn't really much of a debate, if you ask me. Literally every
unbiased academic and industry study shows that index funds have
outperformed actively managed funds in every investment category over the
long-term. But there’s another measure that isn't discussed as frequently,
and it's an important one - the payout.
"
http://www.rickferri.com/blog/investments/another-reason-to-buy |
S**C
发帖数: 2964 | 7 Rick is a salesman, his "research" lacks any academic rigor to speak of.
In fact, you do not need any research to know with almost mathematical
certainty that active managed investments collectively will lose to low cost
index funds because of fees, therefore a ***randomly*** selected actively
managed portfolio will stand no chance. Rick the salesman conveniently omit
the key words "randomly selected" as a sales pitch.
So I am a believer of CMH (Cost Matters Hypothesis), rather than a believer
of EMH.
,
【在 r**m 的大作中提到】
: "The decades old debate between index fund investing and active fund
: investing isn't really much of a debate, if you ask me. Literally every
: unbiased academic and industry study shows that index funds have
: outperformed actively managed funds in every investment category over the
: long-term. But there’s another measure that isn't discussed as frequently,
: and it's an important one - the payout.
: "
: http://www.rickferri.com/blog/investments/another-reason-to-buy
|
D*****t
发帖数: 558 | 8 How about this one by S$P?
http://www.spindices.com/documents/spiva/spiva-us-year-end-2012
http://www.standardandpoors.com/indices/spiva/en/au
Sure, S&P wants to sell and promote their indices.
cost
omit
believer
【在 S**C 的大作中提到】
: Rick is a salesman, his "research" lacks any academic rigor to speak of.
: In fact, you do not need any research to know with almost mathematical
: certainty that active managed investments collectively will lose to low cost
: index funds because of fees, therefore a ***randomly*** selected actively
: managed portfolio will stand no chance. Rick the salesman conveniently omit
: the key words "randomly selected" as a sales pitch.
: So I am a believer of CMH (Cost Matters Hypothesis), rather than a believer
: of EMH.
:
: ,
|
S**C
发帖数: 2964 | 9 The power of low cost active management has been demonstrated by Vanguard
already over long term.
【在 D*****t 的大作中提到】
: How about this one by S$P?
: http://www.spindices.com/documents/spiva/spiva-us-year-end-2012
: http://www.standardandpoors.com/indices/spiva/en/au
: Sure, S&P wants to sell and promote their indices.
:
: cost
: omit
: believer
|
S**C
发帖数: 2964 | 10 I should add the data from S&P sort of confirms my long-held perception. The
asset weighted average (which should be the right average to use, rather
than Rick preferred equal weighting) is mostly better than equal weighted
average, investors know which funds are better, they just cannot hold it
through.
I am curious why large cap and multicap active funds seem to have a tiny
edge before fees (assume 1% average fees), but not small cap and mid-cap. I
would imagine the other way around.
【在 S**C 的大作中提到】
: The power of low cost active management has been demonstrated by Vanguard
: already over long term.
|
m****a
发帖数: 2593 | 11 http://www.investopedia.com/articles/exchangetradedfunds/08/mar
A study done by Srikant Dash and Keith Loggie of Standard & Poor's in 2008
analyzed the performance of the S&P 500 and the S&P 500 EWI. Since 1990, the
EWI has outperformed by 1.5% per year but not consistently. It lagged the S
&P 500 for six consecutive years from 1994 to 1999, but outperformed the S&P
500 for seven years through 2006. The study suggested that the EWI appeared
to underperform the S&P 500 during strong markets, but held up better
during bear markets. The result also suggests that when value stocks
outperform growth stocks, the EWI will outperform the S&P 500.
The
I
【在 S**C 的大作中提到】
: I should add the data from S&P sort of confirms my long-held perception. The
: asset weighted average (which should be the right average to use, rather
: than Rick preferred equal weighting) is mostly better than equal weighted
: average, investors know which funds are better, they just cannot hold it
: through.
: I am curious why large cap and multicap active funds seem to have a tiny
: edge before fees (assume 1% average fees), but not small cap and mid-cap. I
: would imagine the other way around.
|
S**C
发帖数: 2964 | 12 We are talking about different thing here. I am talking comparing average
active managed funds performance with index, one should use asset weighted
average, rather than equal weighted average. That is, you cannot treat say
VWELX, and a no-name bad performer equally, because VWELX has 100 more asset
under management than the other one. Treating them equally effectively says
investors will put equal amount of dollars to these funds, which is just
plainly stupid assumption.
the
S
&P
appeared
【在 m****a 的大作中提到】
: http://www.investopedia.com/articles/exchangetradedfunds/08/mar
: A study done by Srikant Dash and Keith Loggie of Standard & Poor's in 2008
: analyzed the performance of the S&P 500 and the S&P 500 EWI. Since 1990, the
: EWI has outperformed by 1.5% per year but not consistently. It lagged the S
: &P 500 for six consecutive years from 1994 to 1999, but outperformed the S&P
: 500 for seven years through 2006. The study suggested that the EWI appeared
: to underperform the S&P 500 during strong markets, but held up better
: during bear markets. The result also suggests that when value stocks
: outperform growth stocks, the EWI will outperform the S&P 500.
:
|
a*p
发帖数: 209 | 13 what is their er? what is their turnover ratio?(tax consideration)
btw, my 401k that has only index funds has a return of 27% (October).
this active fund is not impressive because this is a bull year.
28
【在 s********r 的大作中提到】
: 收到一个电话咨询，对方自称是美林的全牌照投资顾问。
: 大力推荐他们家的personal financial service，说他们家的主力股票基金今年收益28
: %，2008年最凶险的时候也只亏了22%。说该基金集中投资30-40只股票，但频繁调整仓
: 位。
: 最低认购额10万美刀。
: 有人用过么？
: 谢谢分享！
|
