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I am a Moscow-based bi-lingual blogger and investor. Started as a Russian mutual fund investor in 1999, I went for an ETF portfolio late in 2007. Survived the 2008/9 meltdown and love sharing the way I invest. Publisher of the Marathon Investor newsletter, a virtual primer of a balanced... More
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  • Value Vs. Growth

    An interesting trend - U.S. value stocks outperform U.S. growth stocks. Here is some perspective.

    Not long ago (Q2 2012) two prominent authors, Mark Hulbert and John Authers pointed out that growth stocks had been relatively strong for quite a while. Given that value typically outperforms in the long run, both shared interesting observations. The picture has changed since that time.

    Don't Give Up on Value Stocks

    Based on history, value-oriented shares should outperform their growth counterparts in the coming years.


    MAY 8, 2012

    From <>

    When value goes out of style

    Throughout history value has outperformed. In the fallout from the bursting of the tech bubble in 2000, value stocks did well.

    When growth is scarce, people will pay a premium for it. So companies that are growing continue to outperform.

    By John Authers

    April 27, 2012

    From <>

    And here we are today:

    (click to enlarge)

    From <>

    Tags: VUG, VTV
    Feb 17 12:29 PM | Link | Comment!
  • Marathon Investor Feb 1 Update

    The Marathon Investor model update is out (link to model description and subscription). Here is a summary of actions in January:

    Jan 11th:


     ETF / Ticker% of portfolio
    Commissions 0.21%
    Cash flow -5.57%
    Portfolio Market Value$26,508.37
    Holdings for the week of Jan 14th 
     ETF / Ticker% of portf

    Jan 25:

    I moved 15% of portfolio from $PCY to $WIP, which resulted in the following allocations by the end of this Friday, Feb 1, before re-balancing:

    (click to enlarge)Asset allocation as of Feb 1 before rebalancing

    Here is the model performance.

    (click to enlarge)Marathon Investor Portfolio Update

    Going into next week I sold out stakes in $IBB, $XLF and $WIP, adding to $ITB, $RWX, $TUR. The complete state of the model after rebalancing is available to the subscribers.

    Disclosure: I am long XLF, TUR, WIP, ITB, RWX.

    Feb 03 4:56 AM | Link | Comment!
  • Random Reads, Charts And Tweets Of The Week Of December 17

    Sotheby's Stock Price: The World's Best Overconfidence Indicator?

    Sotheby's as an art / risk / discretionary appetite indicator

    Vikram Mansharamani

    From <>

    (click to enlarge)

    Rich managers, poor clients. Investors have paid too much for hedge-fund expertise. Better to focus on low costs than star fund managers:

    If the outlook for returns in both equities and bonds is subdued, investors should concentrate on the one factor they can control: costs.

    From <>

    The Paradox of Skill: Why Greater Skill Leads to More Luck By Michael J. Mauboussin

    From <>

    DAVID ROSENBERG PRESENTS: 34 Charts You Must See Before Making A Move In 2013

    Mamta Badkar | Dec. 21, 2012

    From <>

    David Rosenberg Presents 10 Things In The Economy That Are 'Nearly-Certain'

    Mamta Badkar | Dec. 19, 2012

    From <>


    Popular idea of two trades in one: long Japanese stocks, short the yen, can be expressed with $DXJ:

    (click to enlarge)

    From <>

    Dec 23 12:10 PM | Link | Comment!
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