In today’s post I want to look at long term TAA model performance in a different way. I think intuitively most investors realize that any strategy they pick will have periods of outperformance and underperformance. But decision making under real circumstances exposes us to all kinds of biases which often Read more…
** All the return data for this post comes from AllocateSmartly, Portfolio123, and my own calculations. At the end of October many TAA strategies either triggered to completely risk-off or started moving towards risk-off assets. In today’s post I’m going to dive a little deeper into the TAA return data Read more…
“All models are wrong. Some models are useful.” This post is the second part of a white paper that I wrote for Economic Pulse Newsletter subscribers a few months ago. If you’re interested in learning more about the newsletter see here. Also, for more info on all kinds of TAA Read more…
“All models are wrong. Some models are useful.” This post is a white paper that I wrote for Economic Pulse Newsletter subscribers a few months ago. If you’re interested in learning more about the newsletter see here. Also, for more info on all kinds of TAA models I highly recommend Read more…
It’s that time of year to update the performance stats of investment systems. In this post, I’ll cover various Tactical Asset Allocation strategies and how they performed in 2017. Let’s jump right in. As usual, I’m using data from the great folks at Allocate Smartly. 2017 was definitely a risk-on Read more…
Today I want to talk about momentum. I’m always struck by the hand wringing I see from investors as prices reach new highs. This seems particularly evident over the last year during a great run for stocks. This is odd when you look at the historical evidence for momentum. Momentum Read more…
Tactical Asset Allocation (TAA) strategies have come a long way in the last few years. From a small corner of the financial blogosphere to basking in broad daylight. I’d like to think I had a small role to play in that but really it’s the result of the amazing work Read more…
Personal note: Sorry for the long delay from posting. I had a death in the family this summer, a big overseas family wedding, and I’ve been working on getting my newsletter released, which I’ll announce in a later post. Now, I’m back. I was thinking this morning that with the Read more…
US stocks are expensive. There seems to be article after article on the expensiveness of US stocks these days. Plus, bonds in general are really really expensive. Both US stocks and all bonds are in the top (90th+ percentile) tiers of expensiveness relative to history. As Cliff Asness of AQR Read more…
Today I want to talk about my friend Jose. About a year and half ago, after months of Q & A between us, Jose decided to implement Antonacci’s GEM portfolio in his IRA (see this post for a detailed description). This post describes his first 6 months in GEM, November Read more…
Just a quick post today on the TAA bond strategy that I’ve posted on and keep track of here. Starting yesterday, the strategy is on AllocateSmartly. See the blog post discussing the details of the strategy and it’s historical performance. A few important items that I’d like to highlight follow. Read more…