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Jonathan Liss

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  • Larry Swedroe Positions For 2014: Risky Equities Always Trump Chasing Yield [View article]

    PRFZ is the RAFI Small-Mid Portfolio:

    It's one of Rob Arnott's fundamental index funds which weights holdings according to a mix of book value, cash flow, sales and dividends and charges 39 bps. It's up roughly 40.5% YTD on a total return basis so somewhat ahead of BOSVX and BOTSX.

    In terms of factor exposure, XTF lists the following breakdown:

    83% small and micro cap
    15% midcap

    42% value
    28% growth
    30 blend

    The spread to trade it seems reasonable as it has close to $1B AUM. Seems like it would be a good substitute for those Bridgeway funds in the Larry Portfolio if one were so inclined.
    Dec 26 08:59 AM | 1 Like Like |Link to Comment
  • Larry Swedroe Positions For 2014: Risky Equities Always Trump Chasing Yield [View article]
    They've worked together academically. What is improper about them working together with DFA?

    For investors that want to do it themselves, good for them. We certainly encourage that here at SA. However not everyone has the time or inclination to do so. Which is where financial services firms come in. The assumption that these firms are simply gauging unwitting consumers doesn't give the consumer enough credit. My bet is that most high net worth individuals are more than happy to pay someone else 50 to 100 basis points to manage their investments if it means less headaches and more time to themselves.

    What's wrong with that?
    Dec 24 03:16 PM | 6 Likes Like |Link to Comment
  • Positioning For 2014: Guide To The Series [View article]
    I am passing this along to our product team.

    Thanks for reading and Happy Holidays!
    Dec 24 09:49 AM | 2 Likes Like |Link to Comment
  • The Right Time For DoubleLine [View article]
    Tax loss harvesting is like Christmas shopping - waiting till the last minute is never a good idea ;-)

    I just completed most of mine as well.

    Great piece guy and tons of food for thought here - I'm definitely adding this to my watchlist for my parents' account.
    Dec 11 02:01 PM | 4 Likes Like |Link to Comment
  • Generex: A Stock Suitable Only For Its Officers And Directors Or Carl Icahn [View article]

    We have edited the piece to reflect your concerns.

    Dec 3 06:52 AM | 1 Like Like |Link to Comment
  • There's No Global Wine Shortage [View article]
    Even The Onion is getting in on the global wine shortage story:
    Nov 6 04:41 AM | Likes Like |Link to Comment
  • Apple Should Be Like Bloomberg [View article]
    Terrific piece Felix - thanks as always!
    Oct 30 04:31 PM | Likes Like |Link to Comment
  • IPO ETF Doesn't Need Twitter [View article]
    Thanks for pointing that out Bradley. We have fixed the article to reflect your point.
    Sep 16 02:01 PM | Likes Like |Link to Comment
  • Face Off: 2 Water Resource ETFs To Profit From The Worldwide Demand For Clean Water [View article]
    I'm personally a big fan of FIW and have held it for roughly 3 years. It's up 72% over that period (I have never added to or subtracted from my initial position) vs. just 26% for PIO. I was drawn to the fund b/c of the ISE's specific indexing methodology that puts a lot of stress on liquidity of holdings while also insisting all index components be true pure-play investments (something that is far from guaranteed in many sector funds).
    Sep 11 02:27 PM | 4 Likes Like |Link to Comment
  • GDX Updating Index Methodology [View news story]
    Not sure about the bankruptcy thing. My guess is they want to create a clear distinction between GDX and the Jr. Miners equivalent, GDXJ. Right now there's likely some overlap their and this should eliminate that.
    Sep 11 08:29 AM | Likes Like |Link to Comment
  • The Risk Of Using Equities As A Rising Rate Hedge [View article]
    And that's sound logic. I just wonder about your 100% exposure
    Aug 9 09:43 AM | Likes Like |Link to Comment
  • The Risk Of Using Equities As A Rising Rate Hedge [View article]
    100% anything exposes you to huge risks. You need to diversify.
    Aug 7 02:40 PM | 1 Like Like |Link to Comment
  • PIMCO Global StocksPLUS & Income Fund PGP: A High Yield Dividend Option, Is It Sustainable? [View article]
    I know I'm late to the party here Douglas and your points on premium to NAV are well taken however I wouldn't describe a fund with 32% long S&P 500 exposure (via futures) a 'fixed-income' fund. See here: Top 2 holdings are SPX futures and account for roughly 32% of holdings as of 6/30.
    Aug 7 02:18 PM | Likes Like |Link to Comment
  • Setting Up The Big Gold Short [View article]
    Ron Swanson on Park & Rec loves bullion at these prices!
    Aug 1 08:40 AM | Likes Like |Link to Comment
  • Potash turmoil 'a complete game changer' [View news story]
    I added 30% to my PAGG position today. Certainly not a fertilizer pure play but heavy on names like POT (Canadian shares) and MOS. Still only a smallish satellite holding (2% total) but I still believe with the global population continuing to grow at a fast clip and China and India's growing middle classes demanding higher quality food, this is a good long-term play and am happy to add at these levels. This sell-off seems overdone to me, at least looking at this with a long-term view.
    Jul 30 04:07 PM | 1 Like Like |Link to Comment