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Looking to learn more about investors for my investments class
04-17-2010, 09:22 PM
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#1
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Confused about dryer sheets
Join Date: Apr 2010
Posts: 10
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Looking to learn more about investors for my investments class
Hello,
I'm a MBA student and CFA Level II candidate and have been studying modern portfolio theory. I'm relatively new to investing myself seeing as how I'm cash flow negative as a student, but am eager to learn a lot more. As part of a class I'm taking and to learn more about investors, I've created a 20 question survey that takes 1 minute to complete. I could really use your help to get enough results to merit meaningful analysis.
http://www.surveymonkey.com/s/KZ62KP7
Unfortunately in business school, my responses to date have been heavily skewed towards classmates of my age. I'm interested in learning more about investors in demographics other than my own. I don't want to introduce bias into the survey, but my main goals are to better understand investor decisions and what needs are and aren't being met by the various investor tools out on the market today.
I plan to share the high level survey results as soon as I get enough responses.
Thanks in advance!
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04-17-2010, 09:26 PM
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#2
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Administrator
Join Date: Apr 2006
Posts: 23,038
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So where are you going to school? Your moniker would suggest Texas.
__________________
Living an analog life in the Digital Age.
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04-18-2010, 07:19 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Longhorn09, I attempted to take your survey but a few questions gave me pause and I abandoned the survey.
#7 asks for "Total # of stocks in your portfolio at any given time." Like many of us on this forum, I don't invest in individual stocks choosing mutual funds instead. I could find no way to accurately respond to that question.
#'s 18, 19 & 20 give the impression you are sizing up the audience for a potential product or sales pitch. No thanks.
__________________
Numbers is hard
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04-18-2010, 07:44 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,657
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It's fairly common for students to approach special-interest forums for research purposes. It's happened before on the ER Forum, and I've seen it on hobby boards too.
I *used* to give lengthy, thoughtful responses, asking only that the student provide the board with feedback about the fruits of his/her research. They never do. So, I no longer respond.
Amethyst.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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04-18-2010, 08:44 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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The survey as presented prevents typical answers. It is about investing in things other than mutual funds and ETFs. It is missing answers to allow one to select mutual funds, indexes, do-it-yourself investing, and no-cost investing.
How much would I pay for commissions? $0.00
How much would I pay for advice? $0.00
longhorn09, what do YOU think about marketriders?
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04-18-2010, 08:58 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Your survey is predicated on the validity of modern portfolio theory, which is now in doubt. The events of the past few years have shown that the market simply isn't efficient. The last three questions clearly indicate that you are planning a pitch, which is a no-no around here. The individual stock question, as designed, will provide confusing answers.
So I'm out.
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04-18-2010, 09:19 AM
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#7
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,126
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Quote:
Originally Posted by REWahoo
Longhorn09, I attempted to take your survey but a few questions gave me pause and I abandoned the survey.
#7 asks for "Total # of stocks in your portfolio at any given time." Like many of us on this forum, I don't invest in individual stocks choosing mutual funds instead. I could find no way to accurately respond to that question.
#'s 18, 19 & 20 give the impression you are sizing up the audience for a potential product or sales pitch. No thanks.
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This reflects my views on your survey also. I have a substantial sum invested in equities but all through funds. I also didn't like the last 3 questions.
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Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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04-18-2010, 09:58 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Posts: 2,657
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Survey refused to accept my entry, claiming that my comment was in invalid format. It was two sentences, so I don't know what the format problem was.
For such an intrusive and oddly worded survey, I'd be concerned that you will be unable to draw any valid conclusions. Perhaps a next step would be try to improve the survey instead of collecting more responses to a poorly constructed instrument.
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04-18-2010, 10:27 AM
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#9
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Confused about dryer sheets
Join Date: Apr 2010
Posts: 10
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I appreciate the candid feedback. There's no sales pitch here, there is a market sizing component to the class project. The survey clearly states that there are 4 demographic, 13 investor profile, and 3 product related questions. If the survey is confusing or ambiguous, I apologize, clearly I am not a professional.
To Gumby: Hook'Em
REWahoo: Good point on the # of stocks and managed funds.
Ameythst: If you want to send me a private message with your feedback, that'd be great, I'm receptive.
LOL!: riding the market through an index fund or other means is a perfectly valid approach to investing, I personally have no qualms with that, especially if you're not seeking alpha.
growing_older: it required a dollar decimal amount
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04-18-2010, 10:36 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,657
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Longhorn, I thought I made it perfectly clear that I would like the student to provide the discussion board with public feedback on the results of his or her research. Whether *my* feedback to*you* is public or private makes absolutely no difference.
A graduate student's reading comprehension should be better than you have displayed.
A.
Quote:
Originally Posted by longhorn09
Ameythst: If you want to send me a private message with your feedback, that'd be great, I'm receptive.
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__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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04-18-2010, 10:41 AM
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#11
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Confused about dryer sheets
Join Date: Apr 2010
Posts: 10
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Quote:
Originally Posted by Amethyst
Longhorn, I thought I made it perfectly clear that I would like the student to provide the discussion board with public feedback on the results of his or her research.
A.
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Sure, I'll post results when it's completed, but in the meantime I don't want to introduce bias into the survey
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04-18-2010, 11:13 AM
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#12
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Recycles dryer sheets
Join Date: Nov 2009
Posts: 67
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And, question 16 does not accept "other" by itself. This is the question where many of the folks here would answer "I don't buy individual stocks. I buy mutual funds". If you do this, the questions insists that you check one of the boxes, but 'other' does not have a check box, it only has a text entry field.
16. What is usually the basis for your stock picks (Select all that apply)Answer: I buy index funds and compare their results to the tracking index and other comparable funds.
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04-18-2010, 11:27 AM
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#13
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Confused about dryer sheets
Join Date: Apr 2010
Posts: 10
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stevenst: Thanks, certainly I'm learning something new about the process of surveying in general. I've added an optional free form comment field based upon feedback received here. Unfortunately I cannot change #16 to make the textbox a valid answer choice as a standalone vaue since it already has survey responses. I guess I'm learning some new things about SurveyMonkey as well.
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04-18-2010, 11:31 AM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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It seems like the survey is to learn more about speculators and not about investors.
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04-18-2010, 11:38 AM
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#15
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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I almost never take surveys but did take a look. In addition to what others have said, the breakdown on net worth could be broken down more, the greater than $500,000 category doesn't begin to cover the variety you might find from members here. Also greater than age 59 doesn't quite make it. I'd split those categories down farther.
It's interesting that you have bias toward young and new investors?
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04-18-2010, 11:38 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Austin
Posts: 1,142
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Longhorn,
Just out of curiosity, what are they teaching you about modern portfolio theory? It has been around long enough now that there should be plenty of data out there on its weaknesses as well as strengths.
Have you gotten into the validity of the independent normal distribution assumption? Have you looked at the statistical tests to see whether a normal distribution is a good representation of daily price changes? What about back testing? It is pretty simple to code up a random walk and see how it compares to what really happened. Have you talked about ergodicity?
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Start by admitting
from cradle to tomb
it isn't that long a stay.
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04-18-2010, 11:58 AM
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#17
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Confused about dryer sheets
Join Date: Apr 2010
Posts: 10
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CuppaJoe: The inherent bias wasn't intentional. Obviously most of my classmates are around my demographic. That's why I wanted to poll demographics other than my own to get more heterogeneous responses and make the survey more useful.
IndependentlyPoor: Certainly there are certainly a number of assumptions and criticisms of MPT as you've pointed out. Other than ergodicity, your other points have been covered in school and as well in the CFA study material.
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04-18-2010, 01:12 PM
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#18
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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The biggest problem with survey data is that it only comes from people who like to provide survey data.
The second-biggest problem with survey data is that everybody lies. Especially about sex and money surveys, although not always in that order...
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
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04-18-2010, 01:48 PM
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#19
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Confused about dryer sheets
Join Date: Apr 2010
Posts: 10
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I've made a couple of the more sensitive survey questions optional based upon the feedback received here.
Nords: Agreed
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04-18-2010, 02:42 PM
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#20
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,714
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Quote:
Originally Posted by Nords
The biggest problem with survey data is that it only comes from people who like to provide survey data.
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Not so! I dislike surveys but answered anyway. Longhorn affiliation...
Quote:
The second-biggest problem with survey data is that everybody lies. Especially about sex and money surveys, although not always in that order...
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Are you sure it's not only you?
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