In this episode we return from vacation ready to rumble and answer emails from Peter, David, MyContactInfo (x2) and Mark.   We appreciate our listeners and then annoy them (I've got an angle), talk about ESG investing and why you want to have both growth and value funds and talk about buy-write funds in general and JEPI in particular.Links:Risk Parity Chronicles Resources:  Resources - Risk Parity ChroniclesESG Article One:  Shades of Green - HumbleDollarESG Article Two:  Musings on Markets: ESG's Russia Test: Trial by Fire or Crash and Burn? (aswathdamodaran.blogspot.com)Backtest of 50/50 Value/Growth vs. Total Market:  Backtest Portfolio Asset Class Allocation (portfoliovisualizer.com)Asset Correlation Matric for JEPI:  Asset Correlations (portfoliovisualizer.com)Support the show

In this episode we answer emails from Harvey (a large rodent), MyContactInfo and Mark.  We discuss the Dragon Portfolio and managed futures funds like DBMF, reprise Episode 202,  some common mistakes of amateur investors, reverse mortgages (briefly), and how we have incorporated and modified classic and theoretical risk parity principles.Links:Recent Interview of Andrew Beer (DBMF):  214 Systematic Investor Series ft. Andrew Beer – October 16th, 2022 | Top Traders UnpluggedHarvey's First Link re Dragon Portfolio:  How to Build a Recession-Proof Investment Portfolio (w/ Danielle DiMartino-Booth & Chris Cole) - YouTubeHarvey's Second Link re Dragon Portfolio:  How to Build the Dragon Portfolio - YouTubeIn Pursuit of the Perfect Portfolio book:  In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest by Andrew W. Lo (goodreads.com)CFA Manual Chapter re Risk Parity:  chapter-4-from-managing-multiasset-strategies-2018.pdf (callan.com)Early Retirement Now Gold Study:  Using Gold as a Hedge against Sequence Risk – SWR Series Part 34 – Early Retirement NowSupport the show

In this episode we answer questions from Jeremy, Richard and Gen.  We discuss the moribund WARM portfolio strategy, more issues about annuities and where to learn more about them, and fractional share trading of ETFs.And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.Additional links:JL Collins Article on WARM Strategy:  Sleeping soundly thru a market crash: The Wasting Asset Retirement Model - JLCollinsnhBogleheads Critiques of WARM Strategy:  No risk retirement withdraw strategy - WARM - Bogleheads.orgStan The Annuity Man Channel:  Stan The Annuity Man - YouTubeSupport the show

In this episode we answer emails from Sue, Vern and Rene.  We discuss revocable trusts, where and where not to get them and why or why not you might want one, the mechanics of rebalancing and drawing down on a portfolio with multiple accounts, and the differences between various small cap funds like IJR, IJS, IJT and VIOV.Support the show

In this episode we answer emails from Boone, MyContactInfo and Alex.  We discuss issues with leverage, real estate invesments, spreadsheet projections and guessing about the future.  Listen for the BLOOPER!And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.Additional links:Video About Leverage:  Investing With Leverage (Borrowing to Invest, Leveraged ETFs) - YouTubeOptimized Portfolios Leveraged ETFs Reviews:  The 9 Best Leveraged ETFs To Enhance Portfolio Exposure (2022) (optimizedportfolio.com)MyContactInfo's Link to Vanguard REIT:  VGSLX-Vanguard Real Estate Index Fund Admiral Shares | VanguardSupport the show

In this episode we follow up on Episode 209 with some recent (as in this week) Wade Pfau references that confirm what we said about overly pessimistic SWR assumptions.   And then we answer emails from Justin, Drew, Jim and Chris.  We discuss REITs and the Risk Parity Chronicles series about them, good sources for information about factor or "smart beta" investing, and questions about transitioning from accumulation to decumulation when you are close to "winning the game."Links:Retire With Style Podcast #34:  Retire With Style - Episode 34: Even In Volatile Markets, Find Out Why The 4% Rule Distribution May Be Too Low (google.com)Risk Parity Chronicles REIT Series Conclusion:  Post-script to REITs series: How do individual REITs compare? (riskparitychronicles.com)Rational Reminder Podcast #213:  RR #213 - Expected Returns and Factor Investing - YouTubeRational Reminder Podcast #129:  RR #129 - Five Factor Investing with ETFs - YouTubeResolve Asset Management YouTube Channel:  ReSolve Asset Management - YouTubeSupport the show

In this episode we answer a lengthy email from Kevin about issues with popular estimates of Safe Withdrawal Rates.  We then discuss the problems with and failings of some of these estimates and their underlying analysis, including why Best Practices beat Convenient Shibboleths, failures to analyze non-simplistic portfolios, misuse of the "reversion to the mean" concept, improper use of conservative assumptions and modelling software, improper use of the 30-year time frame, and the failure to incorporate well-accepted favorable assumptions.  We also discuss appeals to popularity and conflicts of interest, including safety in numbers, the use of double standards, the popularity of pessimism, and the desire to please sponsors, sell products and maintain past consistency, whether foolish or warranted.And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.Additional links:SWR Series #34:  Using Gold as a Hedge against Sequence Risk – SWR Series Part 34 – Early Retirement NowNext Level Life Video re Gold:  Why Are Gold Portfolios So Dependable? - YouTubeRAM Interview of Wade Pfau:  ReSolve Riffs with Wade Pfau on Optimal Retirement Strategies - YouTubeMorningstar 2011 (Lousy) Predictions Article:  Your Forecasts for Stock and Bond Returns  (2011)| MorningstarPortfolio Charts SWR/PWR Calculator:  WITHDRAWAL RATES – Portfolio ChartsKitces Article Re Consequences of Retirement Spending Smile:  How Total Spending Declines Over Time In Retirement (kitces.com)RAM Interview of Antti Ilmanen:  Antti Ilmanen on his new book "Investing Amid Low Expected Returns" - YouTubeImmediate Annuities Website:  Immediate Annuities - Income Annuity Quote Calculator - ImmediateAnnuities.comSupport the show

In this episode we discuss an email from and conversation with Paul Merriman.  We follow up on his suggestion/request that we create an episode for beginning investors to help them get going  in a simple way that can work.  And then we embark on a very special trip.  Very.  Special.Links:The Four Phases of Saving and Investing for Retirement:  The Four Phases Of Saving For Retirement (kitces.com)   Earn = Kansas.  Save = Munchkinland.  Grow = The Roads To Emerald City.  Preserve = Emerald City.Paul Merriman website:  Home - Paul MerrimanPaul Merriman Sound Investing podcast:  Podcasts - Paul MerrimanPaul Merriman Best In Class Funds:  Best-in-Class ETF Recommendations - Paul MerrimanEarn & Invest Podcast (#349) Interview of Paul Merriman:  Are We Leaving Money on the Table? — Earn & Invest (earnandinvest.com)Support the show

In this episode we answer emails from Arun, Jeffrey and Chris.  We discuss using simple back-of-the-envelope estimation methods to solve for complex portfolio projections, using a risk parity style portfolio for intermediate accumulations, and re-cap annuity considerations from Episode 184.And THEN we our go through our weekly and monthly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.Arun's question:  "What type of portfolio would you suggest for below scenario. I can invest $x a month for y years and can let it sit for n years. After y+n years would like to start withdrawing at least .75x dollars per month perpetually. Value of x would be less than $1000 and value of y would be 5-10 years but depending on future need and market condition it can stay longer or shorter. Ideally would like to have n=0 but that might be too ambitious. Is there to tool to play with these variables that you know and what type of portfolio would you suggest."Additional Links:Risk Savvy book:  Risk Savvy: How to Make Good Decisions by Gerd Gigerenzer | GoodreadsPortfolio Visualizer Monte Carlo Simulator with Multi-stage Analyzer:  Financial Goals (portfoliovisualizer.com)Rule of 72:  Rule of 72 - WikipediaSupport the show

In this episode we answer questions from MyContactInfo, Wesley and Adam.  In a tour de force presentation, we discuss Michael Mauboussin's book, "The Success Equation:  Untangling Skill and Luck in Business, Sports and Investing", the implications of an all small-cap value portfolio and applying the ideas of Bruce Lee and Emerson to Jack Bogle's "Common Sense Investing".  And we also take a frolic and detour into the Twilight Zone.Links:CFA Institute Book Review the The Success Equation:  The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing (a review) (cfainstitute.org)Twilight Zone Episode Clips:  Twilight Zone: Of Late I Think Of Cliffordville - YouTubeEarn & Invest Podcast (#349) Interview of Paul Merriman:  Are We Leaving Money on the Table? — Earn & Invest (earnandinvest.com)Rational Reminder Podcast Interview of Vanguard's Former CIO:  Episode 216: Gus Sauter: Vanguard's Former CIO on Indexing, Active Management, and Private Equity — Rational ReminderSupport the show