Risk Parity Radio

This is our weekly portfolio review of the portfolios you can find at: https://www.riskparityradio.com/portfolios

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In this episode we begin an analysis of NTSX, the WisdomTree 90/60 U.S. Balanced Fund, using David Stein's Ten Questions to Master Investing:

1.  What is it?
2.  Is it an investment, a speculation, or a gamble?
3.  What is the upside?
4.  What is the downside?
5.  Who is on the other side of the trade?
6.  What is the investment vehicle?
7.  What does it take to be successful?
8.  Who is getting a cut?
9.  How does it impact your portfolio?
10.  Should you invest?

Links:  WisdomTree 90/60 Balanced Fund Information Page:  NTSX - WisdomTree 90/60 U.S. Balanced Fund

NTSX Basic Statistics:  wisdomtree-fi-export-statistics-ntsx.pdf

Laminar Capital Management (Andy Cole):  Laminar Capital Management (laminarcm.com)

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This is our weekly portfolio review of the portfolios you can find at: https://www.riskparityradio.com/portfolios

We also discuss the Risk Parity Ultimate Portfolio, which was first discussed in depth in Episode 11.

Link to Portfolio Visualizer Analysis:  Risk Parity Ultimate Asset Allocation Analysis 

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In this episode we discuss a "guest request" email I received and complete our analysis of the managed futures fund DBMF that we began in Episode 55.

 David Stein's Ten Questions to Master Investing:

1.  What is it?
2.  Is it an investment, a speculation, or a gamble?
3.  What is the upside?
4.  What is the downside?
5.  Who is on the other side of the trade?
6.  What is the investment vehicle?
7.  What does it take to be successful?
8.  Who is getting a cut?
9.  How does it impact your portfolio?
10.  Should you invest?

Links:

DBMF Summary Fact Sheet:  https://www.imgp.com/us/wp-content/uploads/2021/01/iM-DBi-Managed-Futures-Strategy-ETF-4Q20.pdf

DBMF Semi-Annual Report:  https://www.imgp.com/us/wp-content/uploads/2020/09/IMDBIETF-Semiannual-f.pdf

DBMF Prospectus:  https://www.imgp.com/us/wp-content/uploads/2021/02/im_dbi_etfs_prospectus.pdf

Asset Correlation Matrix for DBMF:   https://www.portfoliovisualizer.com/asset-correlations?s=y&symbols=DBMF%2C+VTI%2C+TLT%2C+GLD%2C+PDBC&timePeriod=2&tradingDays=60&months=36

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This is our weekly portfolio review of the portfolios you can find at: https://www.riskparityradio.com/portfolios

We also consider three variations of the Golden Ratio Portfolio and compare them with the Vanguard Wellington Fund.   For more on the Golden Ratio portfolio, check out Episodes 6 and 38.

Portfoliovisualizer Analysis:  https://www.portfoliovisualizer.com/backtest-asset-class-allocation?s=y&mode=1&timePeriod=2&startYear=1972&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&benchmark=-1&benchmarkSymbol=VWELX&portfolioNames=true&portfolioName1=Golden+Ratio&portfolioName2=SHY+Variation&portfolioName3=Emerging+Markets+Variation&asset1=TotalStockMarket&allocation1_1=42&allocation1_2=42&allocation1_3=42&asset2=LongTreasury&allocation2_1=26&allocation2_2=26&allocation2_3=26&asset3=Gold&allocation3_1=16&allocation3_2=16&allocation3_3=16&asset4=REIT&allocation4_1=10&allocation4_3=8&asset5=TreasuryBills&allocation5_1=6&asset6=ShortTreasury&allocation6_2=16&asset7=TIPS&asset8=EmergingMarket&allocation8_3=8

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In today's episode we answer some questions from Jason P. about setting up a risk-parity style portfolio at M1 and then follow up on our discussion of the Dragon Portfolio (Episode 53) with part one of an analysis of Managed Futures Fund DBMF.

Modified Golden Ratio Portfolio With SHY:  Portfolio Visualizer Analysis (portfoliovisualizer.com)

David Stein's Ten Questions to Master Investing:

1.  What is it?
2.  Is it an investment, a speculation, or a gamble?
3.  What is the upside?
4.  What is the downside?
5.  Who is on the other side of the trade?
6.  What is the investment vehicle?
7.  What does it take to be successful?
8.  Who is getting a cut?
9.  How does it impact your portfolio?
10.  Should you invest?

DBMF Summary Fact Sheet:  https://www.imgp.com/us/wp-content/uploads/2021/01/iM-DBi-Managed-Futures-Strategy-ETF-4Q20.pdf

DBMF Semi-Annual Report:  https://www.imgp.com/us/wp-content/uploads/2020/09/IMDBIETF-Semiannual-f.pdf

DBMF Prospectus:  https://www.imgp.com/us/wp-content/uploads/2021/02/im_dbi_etfs_prospectus.pdf

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This is our weekly portfolio review of the portfolios you can find at: https://www.riskparityradio.com/portfolios

We also compare the Golden Butterfly portfolio with a David Swensen portfolio.   For more on the Golden Butterfly, check out Episodes 4, 15, 17 and 36.

Links:

Swensen Portfolio:  https://portfoliocharts.com/portfolio/swensen-portfolio/

Comparison Analysis:  https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=2&startYear=1985&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&portfolioNames=true&portfolioName1=Golden+Butterfly&portfolioName2=Swenson+Individual&portfolioName3=Portfolio+3&symbol1=VTI&allocation1_1=20&allocation1_2=30&symbol2=IJS&allocation2_1=20&symbol3=TLT&allocation3_1=20&symbol4=SHY&allocation4_1=20&symbol5=GLD&allocation5_1=20&symbol6=VGTSX&allocation6_2=15&symbol7=VEIEX&allocation7_2=5&symbol8=VNQ&allocation8_2=20&symbol9=IEF&allocation9_2=15&symbol10=TIP&allocation10_2=15

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It's that time again!  This month's rant is dedicated to the memory of George Santayana, who said:  "Those who do not remember the past are condemned to repeat it."

We also begin a discussion of  Chris Cole's "Dragon Portfolio." 

Links:

"Hawk And Serpent" Paper from Artemis Capital:  https://artemiscm.docsend.com/view/taygkbn

Interview of Chris Cole About the Dragon Portfolio:  https://youtu.be/SkfgEZtJ9LA

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This is our weekly portfolio review of the sample portfolios you can find at: https://www.riskparityradio.com/portfolios

Since it is also the end of the month, we discuss distributions for the sample portfolios as well.

We also tackle a listener question about constructing a risk-parity style portfolio with a limited set of options.

To hear more about the Macro-Allocation Principle, listen to Episodes 7 and 37.

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In this episode we answer a question from Luke S. about the accumulation phase and one from Matt R. about the Experimental Portfolios.

Links:

Portfolio Charts Analyzer Tool:  https://portfoliocharts.com/portfolio/my-portfolio/

Note that we used a 25% savings rate when we ran our calculations.

The Fortress of Solitude Movie Clip (explicit):  https://www.youtube.com/watch?v=rJjKP8vYjpQ

Sample Portfolios Page:  Portfolios | Risk Parity Radio

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