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-   -   Whats your Bernstein index? (https://www.early-retirement.org/forums/f28/whats-your-bernstein-index-34680.html)

cute fuzzy bunny 04-08-2008 11:44 AM

Whats your Bernstein index?
 
Just a little poll trying to identify our collective William Bernstein adherence...

Notmuchlonger 04-08-2008 11:52 AM

I still browse The 4 Pillars.

Running_Man 04-08-2008 12:01 PM

I would have preferred a category for read his books/ online site and disagree with his assessments. I think the choices are interesting that disagreeing with his theories are equivalent to never having read them.

flipstress 04-08-2008 12:04 PM

Is he the guy...
 
who wrote "The Four Pillars of Investing?" ;)

That's the only one of his that I've read about 5 years ago when I was first deciding how to invest, and I started out patterning my investment allocations after one template in the book--the 80/20 equities/fixed model.

I haven't been faithful due to what I believe unclemick attributes to too much C19H28O2 :confused:

I have a small fidget-fund invested in individual stocks that I can't seem to break away from despite dismal performance :(

I have stopped reading investment books, so it's not like I based my investment decisions on a lot of research, study, and comparison.

cute fuzzy bunny 04-08-2008 12:06 PM

Quote:

Originally Posted by Running_Man (Post 640359)
I would have preferred a category for read his books/ online site and disagree with his assessments. I think the choices are interesting that disagreeing with his theories are equivalent to never having read them.

You can run your own poll if you wish. I'm trying to establish the "bernstein centricity" of this board.

FUEGO 04-08-2008 12:25 PM

I never took any of his model portfolios from 4 pillars and used them exactly as is. However, I do have a fixed-allocation portfolio with value and small cap tilts, lots of international (including an int'l value tilt). I rebalance.

When deciding on a target portfolio allocation, I reviewed a bunch of slice and dice/bernstein/coffeehouse type model portfolios and picked one that fit my risk tolerance and goals for long-term growth and a decent amount of volatility. But I didn't include some of the more "esoteric" asset classes that I believe bernstein adds to his model portfolios (such as REITs and commodities/gold). Mainly because I didn't want too many slices, and also because these asset classes are accounted for elsewhere (ie - reits are heavily represented in VG's Small cap value fund). Plus, I felt like a 3-5% allocation to a niche sector/fund wouldn't impact volatility/returns a whole lot, given the structure of the portfolio I selected.

Overall, I'd say bernstein's work "strongly influenced" my investing style today. That is, simple, primarily passive, low cost, tax efficient, low turnover investing.

twaddle 04-08-2008 12:39 PM

I liked ths poll better:

https://www.early-retirement.org/foru...you-17740.html

:)

FIREd 04-08-2008 02:18 PM

I guess my style is a bit of Bernstein, a bit of Boggle, and a pinch of dividend investing... I guess. So it's slice and dice, low corrolation portfolio with lots of low cost, tax-efficient index funds with a value tilt and let the market do its thing without worrying about what I can't control...

cute fuzzy bunny 04-08-2008 03:05 PM

Quote:

Originally Posted by twaddle (Post 640386)
I liked ths poll better:

I liked that you were wrong a bit more.

But I'm easy to please.

BTW, it doesnt look like your link works.

But that other poll basically provided the same info...we're not a bernstein centric, index loving bunch of fools. All sorts seem to live well and prosper here.

twaddle 04-08-2008 03:09 PM

Quote:

Originally Posted by cute fuzzy bunny (Post 640459)
I liked that you were wrong a bit more.

But I'm easy to please.

Is this poll for me? Thanks, but I was referring to *you* thumping on the Bernstein bible to support a point for which you lacked actual data.

But as long as you're happy, I'm happy. ;)

cute fuzzy bunny 04-08-2008 03:25 PM

What, ya sitting there hitting <refresh> waiting for a reply? ::)

Sorry if I made your fingers tired, I had to go install a new gas cooktop in the kitchen. What a PITA.

I must have missed the part where I was thumping on the bernstein bible. I thought I was just voicing an opinion that momentum investing wasnt generally a good idea and that you often use such discussions as a jumping off point for whining about the culture of this board, even when the subject of your whining isnt actually borne out by the facts.

Oh, and that you dont even invest in the manner that you're "championing".

I think a lot of what Bernstein had to say was reasonably well advised to consider, and he had a lot of good data. It changed a few things about how I invest. But I'm open to new approaches that have a reasonable risk/return ratio and are well thought out.

I'm not much for get rich quick schemes flogged by bloggers and fund company/newsletter marketeers though.

CuppaJoe 04-08-2008 03:33 PM

Is this the way polls are supposed to be? I hit "view poll results" and can see how everyone voted.

twaddle 04-08-2008 03:36 PM

Let me try to find some insight in your straw man. My point all along was that momentum investing sounded like an interesting strategy. It has some compelling academic data to support it. And that momentum investors are underrepresented here. A topic worth discussing, in other words. Even better if that discussion included participants who actually invested that way.

Do you find that labeling such topics as "get rich quick schemes" without any supporting data helps anybody? Does it attract new participants to the forum who employ a momentum strategy, do you think? Or does it stigmatize them? Does it shutdown the conversation perhaps? Does it even chase them off?

How about this as a crazy approach: ignore topics that don't interest you.

Martha 04-08-2008 03:36 PM

Cuppa, this particular poll is public and there is a disclosure above where you vote. Generally, polls here are set to be private.

CuppaJoe 04-08-2008 03:38 PM

Quote:

Originally Posted by Martha (Post 640476)
Cuppa, this particular poll is public and there is a disclosure above where you vote. Generally, polls here are set to be private.

Thanks, I noticed that right after posting. Never noticed it on other polls.

Martha 04-08-2008 03:41 PM

Quote:

Originally Posted by CuppaJoe (Post 640477)
Thanks, I noticed that right after posting. Never noticed it on other polls.


Because the public nature of the poll may have been a bit of a surprise to many, I edited the poll and made the votes private.

cute fuzzy bunny 04-08-2008 05:59 PM

Yep, my bad. I clicked that and put a note in the OP that I was making it public so we could see the broad variety of opinions and their owners, then I couldnt see the names so I edited it out. This wasnt really one of those "I like wearing my wifes underwear" sort of polls, so I thought I'd try something different with it.

Turns out that some people like Martha and CuppaJoe can see them, but I cannot. I just see voting results.

unclemick 04-08-2008 06:34 PM

Don't Read Books! That's my recent 'born again' mantra.

That said - true to my forty year plus pattern(using hindsight) - I have made every investment boo boo in the book. Sort of like knowing Art when you see it - bad to the bone investment wise while you are doing it - er something.

1. Read Efficient Frontier website - starting with my trusty webtv.

2. Got Four Pillars and Birth Of Plenty one Christmas before Katrina and read them both.

3. Held 10% Vanguard REIT Index(Efficient Frontier's 'Falling REIT Correlations') 1998 -2006. Also a tad Small Cap Value index. ;D.

85% Target Retirement 2015
15% Individual(15 Stock Diversification Myth) dividend stocks.

Age 64 - trying to keep a grip and stay pure - or whatever.:coolsmiley:

heh heh heh - But I am trying to clean up act rite AND Bernstein is helping by working his books harder and doing less on his website.

Ok Ok - I forgot, I never bought any PCRIX type commodities fund - and I did read Bernstein's negative take on the matter - although I really think contango and backwardation(sick?) are great name droppers at parties.

CuppaJoe 04-08-2008 07:19 PM

Quote:

Originally Posted by cute fuzzy bunny (Post 640541)
....
Turns out that some people like Martha and CuppaJoe can see them, but I cannot. I just see voting results.

My lips are sealed.

Notmuchlonger 04-08-2008 07:25 PM

Quote:

Originally Posted by CuppaJoe (Post 640591)
My lips are sealed.

So who was wearing their wives underwear!


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