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Henry Ma, CFA  

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  • Why Is Buy-And-Hold So Hard To Follow? [View article]
    HVAC52, that is a good approach. Normally, professionals call it core/satellite approach. Long-term core holding + tactical satellite is a good way to manage the whole portfolio.
    Nov 10, 2014. 12:15 PM | Likes Like |Link to Comment
  • Why Is Buy-And-Hold So Hard To Follow? [View article]
    Charles, The better strategy is to get out before a significant loss happens. Then get in again once the market stabilizes.
    Oct 31, 2014. 12:00 PM | Likes Like |Link to Comment
  • Why Is Buy-And-Hold So Hard To Follow? [View article]
    Spokane Dave, I don't understand what you meant by "Provocative title with no evidence." If all the investors had followed a buy-and-hold strategy, then the average equity mutual fund investor returns should have been the same as market returns. The 4.2% gap has shown that average investor is not buying and holding.
    Oct 29, 2014. 05:16 PM | 1 Like Like |Link to Comment
  • Why Is Buy-And-Hold So Hard To Follow? [View article]
    Buyandhold 2012, Thank you for your comment. Not many investors have an investment horizon of 44 years. It would have been painful if someone had to sell in 2008 in order to meet his cash needs.
    Oct 29, 2014. 04:56 PM | 1 Like Like |Link to Comment
  • Why Is Buy-And-Hold So Hard To Follow? [View article]
    Moatfrog - This is not an ad. It has nothing to do with our strategies, either. If you don't agree with the arguments. Please let us to have a honest debate rather attack other people.
    Oct 29, 2014. 10:59 AM | Likes Like |Link to Comment
  • Is Valuation A Good Market Timing Indicator? [View article]
    People who say we should not time the market may have forgot the painful experiences in last decade when stocks lost more than 50% twice. Investors' horizons are short. Even worse, investors normally get into the markets close to the top when they see others make money; and get out of the markets close to the bottom because they loose hope. Professional managers should offer strategies that can help investors navigate through those difficult times. Asset allocation and market timing are the most important decisions. However, the money management industry focuses most of its efforts on stock picking or beating the benchmark. The most important investment decisions are left to individuals, the least sophisticated investors. Something is wrong in this picture.
    Sep 11, 2014. 09:59 PM | 3 Likes Like |Link to Comment
  • Adaptive Asset Allocation: A True Revolution In Portfolio Management [View article]
    Good article. I have used a similar but more sophisticated approach to a dynamic asset allocation strategy. The results and monthly updates of the strategy can be found at my blog: http://bit.ly/AF97hv if you are intereted.
    May 26, 2012. 12:32 AM | Likes Like |Link to Comment
  • All-Season Investment Strategy II: Using Cross-Asset Momentum As A Downside Protection Mechanism [View article]
    The blog currently publishes and updates four portfolios (aggressive, moderate, conservative and defensive) every month based on the methodology. I will start publish the update the TWO asset portfolio recommendations on March 1. Sorry for the confusion.
    Feb 26, 2012. 04:27 PM | Likes Like |Link to Comment
  • All-Season Investment Strategy I: Using Economic And Technical Indicators To Protect Your Portfolio In Bear Markets [View article]
    It is one-year growth rate.
    Feb 13, 2012. 12:06 PM | Likes Like |Link to Comment
  • All-Season Investment Strategy III: A Low Risk Solution [View article]
    1. I used a simple life cycle investment formula: 100- age as the percentage of risk assets. For example, the aggressive portfolio have 20% in bond and 80% in risk assets, which is designed for people in their 20s and 30s. When the indicators suggest overweights to particular asset, I add 5% to the asset in the aggressive portfolio. In the end I make adjustment so the total weight is equal to 100.
    2. I rebalance every month.
    3. I do have commodity, gold, real estate, MLP as additional asset classes. If everything goes down, the strategy may not perform well. That happened in 1994 for the moderate portfolio, the only negative year for the portfolio though it was a small loss.
    Feb 11, 2012. 08:14 AM | Likes Like |Link to Comment
  • All-Season Investment Strategy III: A Low Risk Solution [View article]
    For full disclosure, some of the indices don't even have data back to the 70s. I did use some proxies or leave them as it. That means in the early years, the strategy does not cover the whole set of ETF/indices.
    Feb 10, 2012. 01:40 PM | Likes Like |Link to Comment
  • All-Season Investment Strategy III: A Low Risk Solution [View article]
    agree.
    Feb 10, 2012. 11:21 AM | Likes Like |Link to Comment
  • All-Season Investment Strategy III: A Low Risk Solution [View article]
    The composite indicator is considered proprietary.
    Feb 10, 2012. 11:21 AM | Likes Like |Link to Comment
  • All-Season Investment Strategy III: A Low Risk Solution [View article]
    I used total return.
    Feb 9, 2012. 04:53 PM | Likes Like |Link to Comment
  • All-Season Investment Strategy III: A Low Risk Solution [View article]
    I used data of the underlying indexes to get a longer history.
    Feb 9, 2012. 08:22 AM | 1 Like Like |Link to Comment
COMMENTS STATS
49 Comments
21 Likes