SPDR S&P International Small Cap ETF (GWX)
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GWX Forum Topics
- All Comments on GWX
- General Discussion on GWX
- State Street's International Small Cap ETF: Crawling SPDR With Potential [view article]
- E-Z Stealth ETF Portfolio [view article]
- Broad International ETFs [view article]
- Fund Manager Jerry Miccolis' ETF Picks [view article]
- Some Predictions for the Year of the Bear [view article]
- 3 ETFs I'd Still Like To See [view article]
- State Street's Two New ETFs: International Small Cap and World ex-US [view article]
loading ...Recent GWX Articles
- ETF Update: MicroCaps Bringing Up the Rear, SmallCap Emerging Market ETFs
- Portfolio Review: Romey Favors U.S. Dollar
- State Street's International Small Cap ETF: Crawling SPDR With Potential
- E-Z Stealth ETF Portfolio
- Fund Manager Jerry Miccolis' ETF Picks
- Some Predictions for the Year of the Bear
- International Small Cap ETFs Favor Japan and UK
- The Best Smallcap International ETF? That Depends
- 3 ETFs I'd Still Like To See
- ETF Update: New 401(k) Platform, Blossoming ETNs, Foreign Fund Choices
- Full List of Articles »
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State Street's International Small Cap ETF: Crawling SPDR With Potential [view article]
There was not a political statement in the post. If you were offended, check your political party affiliation. The author was talking about the importance of an Internatioal ex-US ETF, not the impotence of Panskeptic's toxic off-point remarks. ReplyState Street's International Small Cap ETF: Crawling SPDR With Potential [view article]
I misunderstood nothing. Smicklas can have a global view of investing and a parochial view of everything else. The Republicans are against big government because they have no idea what to do with it, except enrich themselves and their cronies.You know, it's not a bad thing that a politician with money concerns him- or herself with the least fortunate. Must they be selfish and only defend their class? Comfort the comfortable and afflict the afflicted? Or are they allowed to actually figure out how to help children, seniors, folks who are being kept down so a small handful of well-connected bastards can prosper? The idea that you can only defend those in your own tax bracket is poisonous, and is wrecking this country.
I'd rather have Big Brother helping the helpless than giving our tax dollars to the top 1%. It's called reverse wealth transfer, and we've surely had too much of that.
If Smicklas doesn't want us discussing this stuff, he should have omitted his coy preamble and just written about the ETF. I presume he'll be more careful in future. This year may not be the best time to invest in European small/midcaps. I'd sure place a bid way under where it's trading right now. Reply
State Street's International Small Cap ETF: Crawling SPDR With Potential [view article]
I think you misunderstood his remarks and since you also decided to step outside the matters at hand, a comment: "and our cultural heritage implies that we are to a degree our brother's keeper" then sprinkled with pointed seasonings of being greedy!?Personally, I thought we had a healthy seperation of church and state but when 'our ('other') brother', BIG BROTHER dictates my charitable notions I'm convicted with no charges or jury as being greedy!?? In other words, do as I say not as I do is all I've seen from all those big political players with their millions in books and a great Wresz-Ko real-estate deal, environmental warming & the best one: a trial lawyer(s) sueing medical claims while touting universal health care. We already have had a failed round of insurance companies telling us how to be doctored now we think politicians can do a better job, ha! Oh, is there a small cap Value for Europe? Reply
State Street's International Small Cap ETF: Crawling SPDR With Potential [view article]
"a slow descent into a victim-centric redistribution of wealth mentality?"Astute minds, my foot. What kind of silliness is this?
Yes, there are other people in the world that may occasionally impinge on one's own narrow greed, but we are not alone in our countinghouse, and our cultural heritage implies that we are to a degree our brother's keeper.
The New Selfishness is no different from the Old. Please stick to investment commentary and spare us the whining about 1) having to share the planet with other people who may not care to be bossed around by us, and 2) sharing our country with some people not well off enough to require investment advice. Reply
E-Z Stealth ETF Portfolio [view article]
Response: I did certainly take pains to qualify this portfolio, but also know that no theory can predict the future. There is a little real estate exposure in the portfolio, although I agree you have to dig hard to find it. Perhaps if you read my posting(s) on real estate and my bio it will alert you that I am up to my yingyang in real estate and love it. For most investors, their home is all the real estate they want - and it is a big chunk of many total assets by default. Thanks for your comments. ReplyE-Z Stealth ETF Portfolio [view article]
I think you're getting it mostly right by adding the often overlooked currency and commodities exposure. But to have this much diversification without real estate is baffling to me. It seems like you're missing a great diversification opportunity. You could add some intl RE exposure by simply substituting out that asinine sector rotation fund and substituting in something like RWX. ReplyE-Z Stealth ETF Portfolio [view article]
Hi Thomas,I hope you don't mind me posting a few comments on the portfolio. I agree that one shouldn't try to play the market. This is in fact, however, also good advice for experts.
The portfolio as described above is obviously not a passive portfolio, but bets on a badly performing US economy. I would go so far as too say it is de facto an extremely active approach, and certainly cannot be reconciled with efficient market theory. (Which I hope you believe in, considering you are giving advice to a growing community here.)
While historically the stock market has outperformed bonds marginally, the volatility of equities is three times that of bonds.
And regarding the negative correlation between these asset classes and relying on Markowitz, one should have about 60%-90% bonds.
I would therefore suggest adding a very substantial position of WIP, for example. It is well diversified and inflation linked. Secondly, I don't understand why you arbitrarily buy different sectors and SPY as well. If you don't want to bet but to invest, buy ACWI.
Thus reducing fees, whilst establishing a greater level of diversification.
In order to fine-tune the portfolio, I would suggest reducing the RJI position, as the expected return is around the rate of inflation. So it just works as a hedge (which you do not need if you do not lever).
I would increase the carry trade position as it further diversifies the portfolio, whilst the returns are similar to those of bonds. Bear in mind, that DBV (if i remember correctly) charges 0.65% fees, which is definitely too much. One can easily look up the monthly composition of DBV and buy the currencies manually and save 90% of the fees.
There could be more fine-tuning, by adding some more asset classes and adjusting the percentages. But I am afraid I would be divulging trade secrets if I were to go any further.
Finally, a portfolio with 50% WIP added and levered by 1.5-2.0 will certainly and consistently outperform your portfolio!
best regards
Rudi Reply
Editors
General Discussion on GWX
Is this a buy or a sell? ReplyJackson
Broad International ETFs [view article]
Update: We've added Roger Nusbaum's short article "Explore More Core" ( seekingalpha.com/artic... ) to the Further Reading section.It's short, and asks more questions than it answers, but it touches on a crucial issue: Should you build a portfolio with an All World ETF as the core, supplemented by perhaps one other instrument? Reply
Jackson
Broad International ETFs [view article]
Update: In the Further Reading section, we've added two articles about building a portfolio from an All World ETF:BGI's All World ETF Could Fundamentally Change the Way People Invest (Matt Hougan)
seekingalpha.com/artic...
Total Stock Market ETFs vs. Slice 'n Dice (Murray Coleman)
seekingalpha.com/artic... Reply
Jackson
Broad International ETFs [view article]
Update: we just added Barclays' iShares MSCI ACWI (All Country World Index) Index Fund ETF (ACWI) to the list. Replyewd
Fund Manager Jerry Miccolis' ETF Picks [view article]
CUT is NOT a timberland play. Many of the top holdings own no timberland - they are wood BUYERS. CUT is really a global pulp and paper play. ReplySome Predictions for the Year of the Bear [view article]
The US is already in a major recession, Bernanke is in denial and Greenspan must take the blame for his horrendous decisions in keeping interest rates at record lows of 1% which laid the foundations for this whole sub-prime mess! With Japan and the UK also showing recession indicators, the biggest crash since 1929 and 1987 combined will be here in 2008!! Expect a global meltdown as asset values plummet, credit dries up, massive unemployment takes hold and companies across the world go bankrupt. Sell, sell, sell before as the world economy is doomed!!!Reply
3 ETFs I'd Still Like To See [view article]
What about frontier market ETFs, e.g., something that tracks the S&P/IFCG Extended Frontier 150 Index or equivalent? Maybe I'm missing something, but that stuff isn't covered by ETFs like EEM and VWO, correct? Reply3 ETFs I'd Still Like To See [view article]
How about foreign corporate debt? Reply