This is a stock market blog about portfolio management,foreign stocks, exchange traded funds and the occasional musing about my firefighting experiences. The point here is to share process

The Blurry Line Between Active & Passive

My latest post for Alpha Baskets looks at a well written article that I think asks the wrong question.

From the post;

The first bullet point about not market timing is the one that isn’t active but could be. Rebalancing is arguably an active endeavor. A truly passive investor would let his allocation drift wherever (a point made by Cullen Roche). You may not market time but you might time yourself. There is a school of thought that says a year or two before you plan to retire you should reduce equity exposure to reduce the impact of the bad luck that goes with a bear market starting six months after you retire. If that resonates with you then that is an active endeavor.

Please click through to read the entire post.

A BMW in front of my gym from the other day

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Roslyn, WA, aka Cicely, AK where Northern Exposure was filmed, picture taken in 2011

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Skateboard rack in San Diego

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Political Volatility? Equities Still Don’t Care

The weekly Market Update is posted and includes the following;

Anecdotally we have had several inquiries about whether now is the time to jump out for fear of a large decline. We would note the historical tendency for fast declines to snap back quickly, like the Brexit reaction, and the historical tendency for bear markets to roll over very slowly over a period of several months. Guessing is never the answer. The time to get out, if you are even one to take defensive action, is whenever the strategy you unemotionally chose as being the best one for you tells you to get out.

Please click through to read the entire update;

Lockers with structure fire gear (turn outs) and wildland gear

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A Scania fire truck from Auckland that I filtered the hell out of

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Soccer at University of Phoenix in Glendale, AZ

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Turns Out MLPs Are Risky

My latest post for Alpha Baskets looks at the newfound understanding of the risks inherent to MLPs.

From the post;

I’ve always thought that a huge weighting was a terrible idea. A general rule of thumb that I picked up somewhere along the way very early in my career and repeated quite a few times on the blog is that something with a relatively high yield, like MLPs, is risky and if you don’t think it is risky then you don’t understand the risk. This is not to say you should not take the risk but you need to understand it and anyone understanding the risk probably wouldn’t have had 20% in them.

Please click through to read the entire post.

Prescott Fire Engine 71

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Central Arizona Fire & Medical Authority Engine 61

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A Job Report For Everybody!

The weekly Market Update is posted at Alpha Baskets and includes the following;

Snap, the maker of the Snapchat app of course filed to go public. This has certainly been a much anticipated event but it makes us wonder whether it could be a launch pad for the market to propel to higher levels or serve as a bell-ringing like the big AOL merger back in 2000…or neither. We do know that there is no visibility now for profitability and the shares issued in the IPO will have no voting rights.

Please click through to read the entire update.

NASCAR race in Phoenix a couple of years ago

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Near Marble Canyon on the way to the North Rim of the Grand Canyon

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Trophy Truck

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Big Changes In Endowmentville

My latest post for Alpha Baskets looks at the recently announced changes at the Harvard Endowment and includes the following;

Jack Meyer was well known for owning timber assets when he ran the HMC for its diversification benefits, he said it had no correlation to equities. This is part of what the so called endowment portfolio is all about and why so many investors who are not endowments have tried to emulate it; strong results that include sophisticated investments. For many years I have blogged about influence as opposed to emulation of the endowments.

Please click through to read the entire post.

From a regional training exercise last April

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Venice last April

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Last year’s Mint 400 off road race. I am going back for this years race so hopefully I can get some interesting pictures.

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