100 Level

Downsides to ETFs

  ETF Negatives   There are a few, but not many, negatives to working with ETFs. A broker is required to purchase and sell ETFs.  I use TDAmeritrade and it costs me $7.00 to purchase and $7.00 to sell ETFs.  Now 101 ETFs are commission free with TDA. Therefore I generally deal in blocks of 100 shares or more.  This is done to keep commissions to a low percentage of … [Read More...]

New E-Books From William J. Bernstein

Do you desire a fresh infusion of investment information from William J. Bernstein?  If so, here is the way to obtain his latest writings.  First, go to his Efficient Frontier web site and read "The Ages of the Investor."  If his brief introduction appeals to you, then whip over to Amazon and download into your Kindle (or other formats) his latest writing.  Here is a sample of what to expect from … [Read More...]

300 Level

“Ten” Ivy ETF Portfolio

Ivy 10 Portfolio As you read through this 10-ETF portfolio, you may want to toggle back and forth between the latest analysis and this analysis I finished approximately four and one-half months ago. When I last analyzed the Ivy 10, little was gained by moving from five to ten ETFs. That is still the case.  In the 10-ETF portfolio, there are not ten different asset classes.  In my … [Read More...]

New Normal Portfolio Update

It has been several months since I last updated the "New Normal" portfolio so I am unsure as to whether this portfolio still contains the ETFs listed in the following QPP analysis.  Regardless, there are a number of positive possibilities in this portfolio as it is designed for bear market protection. This material is not available for publication elsewhere on the Internet. … [Read More...]

200 Level

Keeping Portfolios Simple

Three Sample Portfolios Complicated portfolios discourage investors and that is why I am attempting to simplify the portfolios tracked here at ITA Wealth Management.  There are many examples of possible portfolios in the literature, particularly in books by Faber-Richardson, Swensen, and Bernstein.  Let's start with one of the simple portfolios laid out by David Swensen. While Swensen does not … [Read More...]

Asset Classes: How Many Should You Own?

With much recent attention given to answering the money managers most perplexing question, what percent of the portfolio should be invested in each asset class, the whole idea of how many asset classes to include in a portfolio has been neglected.  William Bernstein answers the question this way.  "You might as well ask the meaning of life.  About all one can say is, more than three."  The major … [Read More...]

400 Level

ITA Ratio Introduced

As I wrote in an earlier comment, I am moving from the Sortino ratio over to what I call the ITA ratio.  Let me go into detail as to why I am making the change.  I will explain how the new ITA ratio is calculated and how it will be programmed into later versions of the TLH spreadsheets.  It is not going to be all that difficult to make the change so stick with me. Before I launch … [Read More...]

The Feynman Portfolio Study

Lowell has invited me to author a series of posts on the ITA Wealth Management website that may be of interest to Platinum members interested in learning more about the practical application of some of the strategies, tactics and analysis tools that Lowell uses on the site and how these might be expected to perform under a variety of market conditions. I plan to do this by back testing the … [Read More...]