Search found 57 matches

by mrekvy491
Thu May 27, 2021 9:38 am
Forum: Non-US Investing
Topic: Reached FI at the 37. Now what? (Finland)
Replies: 14
Views: 4050

Re: Reached FI at the 37. Now what? (Finland)

I think the allocation is fine. I would keep the ones you have but change the assets into distributing versions, and use the dividends for vacations or your own projects you enjoy. Given the distributing ones don't have too much of a tax leakage. This way you can keep most of the capital while incre...
by mrekvy491
Wed May 19, 2021 3:45 am
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

] Because futures contracts are "on margin" you can lose many times your initial investment. That's the principle and it is what gets amateurs killed in futures markets. (the actual reality is more complex because whoever you hold your account with won't let you do that, they will sell yo...
by mrekvy491
Wed May 19, 2021 3:36 am
Forum: Investing - Theory, News & General
Topic: Inflation could be 20% in the next three years: Wharton's Jeremy Siegel
Replies: 176
Views: 18866

Re: Inflation could be 20% in the next three years: Wharton's Jeremy Siegel

He has been saying this for months, almost for a year. Maybe around 6% inflation per year, value stock outperformance, quality stock and gold as the conservative asset in portfolios. The end of the 30+ years of bull market for bonds. Don’t think it is that outrageous. One may buy some inflation link...
by mrekvy491
Mon May 17, 2021 8:42 am
Forum: Non-US Investing
Topic: A viable replacement for US TIPS in a risk parity portfolio?(South Korea)
Replies: 7
Views: 992

Re: A viable replacement for US TIPS in a risk parity portfolio?(South Korea)

Since the availability of inflation-linked assets in the Korean pension fund market is the limiting factor here, it would be helpful if you could share the list of the assets available in your pension fund, or at least disclose what kind of options it provides roughly. Does your pension fund have em...
by mrekvy491
Thu May 06, 2021 10:57 am
Forum: Non-US Investing
Topic: Value stocks (3 factor portfolio)
Replies: 12
Views: 1778

Re: Value stocks (3 factor portfolio)

There also is JPGL https://www.morningstar.co.uk/uk/etf/snapshot/snapshot.aspx?id=0P0001I2BM&tab=3&InvestmentType=FE It is a factor fund, based on value, quality and momentum factors. https://www.etfstream.com/features/product-panel-jp-morgan-am-s-multi-factor-etfs/ May not be exactly what y...
by mrekvy491
Fri Apr 23, 2021 3:19 pm
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

What currency do you use? I use CZK. Based in Czech Republic. I saw your other comment and did not think of currency hedging with futures contract. I don’t think I am not capable of managing futures contract but will look into the option. Indexing has already been hard enough for me and managing fu...
by mrekvy491
Fri Apr 23, 2021 2:48 pm
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

Bond funds also have duration -- roughly the same bond math applies. Currency risk is a whole different subject, but you can hedge that. I guess I am not so convinced how ‘roughly’ the same math applies at the moment. Maybe I will look into how the bond funds function. And not all investors have th...
by mrekvy491
Fri Apr 23, 2021 2:20 pm
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

You're reiterating that bonds have duration risk. That's always been true. If you match the bond duration to your timeframe, then the problem is solved. If you need the money next week, go with a 0 duration bond, i.e. cash. On the other end of the spectrum, I have TIPS and STRIPS in my LMP ladder t...
by mrekvy491
Fri Apr 23, 2021 11:37 am
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

Because it feels different when you lose 10% from a supposedly "safe asset". People own bonds to mitigate the risk, and do not like it when it feels more (or similarly) risky. The real problem is that bonds offer little benefit compared to cash at the moment. Bonds fluctuate in value -- t...
by mrekvy491
Fri Apr 23, 2021 9:05 am
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

Yes, I have 66% of my capital in a global equity index ETF, no problem. I am almost amused when people say the 2/3 in stocks are no problem, but they are worried about the bonds. The feeling about stocks often switches to abject terror when the market reverses. Because it feels different when you l...
by mrekvy491
Thu Apr 22, 2021 7:07 am
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

Well maybe this is time we just save/invest less and spend more. Stimulate the economy.

Not so sure if I will actually do that, but that is what I think sometimes.
by mrekvy491
Thu Apr 22, 2021 3:51 am
Forum: Non-US Investing
Topic: I want 15% yearly ROI. How to go about it? [Croatia]
Replies: 146
Views: 14335

Re: I want 15% yearly ROI. How to go about it? [Croatia]

Having a part time job or a side hustle could easily give you more than 15%. (If you have the time) Leveraged investing is good when things go well. But the sequence of return will be very important. I find it hard to believe that enthusiasm about the levered portfolios will stay the same in a bear ...
by mrekvy491
Wed Apr 21, 2021 7:07 am
Forum: Non-US Investing
Topic: Are bonds really the best thing for the non-equity part of my investments?
Replies: 60
Views: 10702

Re: Are bonds really the best thing for the non-equity part of my investments?

It is true that the bond holders will be fine if they hold it to maturity. But, if the rate rises too quickly loss can happen to bond fund holders. All a matter of speed. If there is inflation, it can be quick 'this time'. That's the risk. I think the best option is to pay back home loans if there i...
by mrekvy491
Thu Apr 15, 2021 5:27 am
Forum: Non-US Investing
Topic: Vanguard ESG Global All Cap UCITS ETF
Replies: 26
Views: 3330

Re: Vanguard ESG Global All Cap UCITS ETF

I am not so convinced by the ESG type of products as the definitions vary quite widely, and there are many grey areas. For example, Tesla is an electric vehicle maker but also has quite a bit of Bitcoin that is not a very carbon friendly asset. And are the tech companies like Facebook really ESG sou...
by mrekvy491
Thu Apr 08, 2021 9:35 am
Forum: Non-US Investing
Topic: Czech, 23, FIRE, investment suggestions welcome!
Replies: 14
Views: 2613

Re: Czech, 23, FIRE, investment suggestions welcome!

There are two types of accounts at Degiro - Basic (that borrows the equity to third parties) and Custody (that doesn't borrow the equity), though it is a bit more expensive on dividend and coupon processing. I decided to go with Custody, as I don't expect to be paid any dividends soon (let alone on...
by mrekvy491
Sat Apr 03, 2021 4:47 am
Forum: Non-US Investing
Topic: Czech, 23, FIRE, investment suggestions welcome!
Replies: 14
Views: 2613

Re: Czech, 23, FIRE, investment suggestions welcome!

Congratulations on starting your investment at such an early age! It seems like you got, or are going to get some capital from your family which will be a great help. I will try to answer your questions as I am also a Czech resident. 1. What are your opinions on the proposed ETFs? Are you in the sam...
by mrekvy491
Thu Apr 01, 2021 5:16 pm
Forum: Non-US Investing
Topic: View on dividend growth stocks and REITs
Replies: 15
Views: 1899

Re: View on dividend growth stocks and REITs

REITs did terrible in 2008, but did offer some diversification benefits in dot com era if I remember correctly. If you believe what is coming will be something between 2000 and the hyperinflation period, holding REITs probably is not a bad idea. I don’t have REIT and think the evictions and foreclos...
by mrekvy491
Thu Apr 01, 2021 2:45 am
Forum: Non-US Investing
Topic: Czech Rep - Expat Portfolio Review
Replies: 6
Views: 950

Re: Czech Rep - Expat Portfolio Review

Welcome! Fellow Czech expat here. There were a few posts from Czech expats so you could search with the keyword “czech” here to see the details. The consensus would be to invest only in VWCE (same as VWRA, but in EUR listed in Eurozone) using Degiro until you reach certain milestone ( like x years o...
by mrekvy491
Fri Mar 26, 2021 6:44 am
Forum: Non-US Investing
Topic: Vanguard ESG Global All Cap UCITS ETF
Replies: 26
Views: 3330

Re: Vanguard ESG Global All Cap UCITS ETF

Thanks for sharing!

Not so sure if I will go for it but will keep my eyes on it

If I can stay away from buying the small cap stocks separately might be worth it.
by mrekvy491
Mon Mar 22, 2021 3:17 pm
Forum: Non-US Investing
Topic: Non US Investing: Should we put 5% of port in Bitcoin?
Replies: 103
Views: 12291

Re: Non US Investing: Should we put 5% of port in Bitcoin?

The only advantage I could think of that it can be useful in countries with capital controls. I remember you being unhappy about Interactive Brokers not offering the service through the banks in Panama, and the banking regulations set by your local government, so Bitcoin could be useful from that as...
by mrekvy491
Sun Jan 31, 2021 7:14 pm
Forum: Non-US Investing
Topic: Retire at 31 portfolio advice
Replies: 27
Views: 5332

Re: Retire at 31 portfolio advice

The amount of money is quite okay for a single person if you could keep the price of living low. I have seen people reitre with 500k in South Korea, so definetely achiveable. If things go bad you could move to a LCOL country for a while. But you may want to reduce the sequence of return risk. I woul...
by mrekvy491
Sun Jan 24, 2021 3:51 pm
Forum: Investing - Theory, News & General
Topic: ‘Frogs in boiling water’: Urgent warning for 50% market drop
Replies: 133
Views: 19612

Re: ‘Frogs in boiling water’: Urgent warning for 50% market drop

I probably won't do anything to my portfolio, but I also feel like there is no need to be so religious about the notion of 'staying fully invested'. The concerns seem quite reasonable and it is also reasonable that you have more cash. The world isn't gonna end. But you should also make sure that you...
by mrekvy491
Sun Jan 10, 2021 2:44 pm
Forum: Investing - Theory, News & General
Topic: 'The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble' - GMO
Replies: 226
Views: 28708

Re: 'The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble' - GMO

Enjoyed the read, and I also do feel like things are getting a bit crazy. I see world indices moving like a small cap stock too often. The endless new influx of (probably retail) money to the growth stocks also seem almost Ponzi-like. Not so sure what I can do, but yes, it does feel bubbly. Won't be...
by mrekvy491
Sun Jan 10, 2021 2:11 pm
Forum: Non-US Investing
Topic: Poland - 29y, long term ETF portfolio
Replies: 28
Views: 5590

Re: Poland - 29y, long term ETF portfolio

Welcome to the forum, and thanks for sharing! It is always interesting to see how tax systems work in neighboring countries. Also interesting to see how people in other professions think about accumulation. - Is this IWDA/CSPX/EMIM separation reasonable? I've read some threads that index tracked by ...
by mrekvy491
Sun Jan 10, 2021 9:46 am
Forum: Non-US Investing
Topic: Czechia | Long-term (10+) investment advice
Replies: 5
Views: 1107

Re: Czechia | Long-term (10+) investment advice

I think the most important thing is how likely it is for you to relocate to other parts of Europe. If you are not sure if you want to be in CZ long term, I would also recommend you to go for VWCE, MSFT, and maybe a bit of AGGH (or IS3V - global inflation linked bonds) like others did. Maybe you coul...
by mrekvy491
Thu Jan 07, 2021 11:41 am
Forum: Non-US Investing
Topic: Czechia | Long-term (10+) investment advice
Replies: 5
Views: 1107

Re: Czechia | Long-term (10+) investment advice

Fellow Czech resident here. I purchased an investment property because I want to retire in Czech, and am not so sure how stable EUR/CZK would be in the future. 1 EUR used to be more than 37 CZK in the early days. Czech national bank also used to keep CZK artificially low not so long ago. Rental inco...
by mrekvy491
Sun Dec 20, 2020 5:59 pm
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 106
Views: 18772

Re: Brexit Planning message from IB to EU customers

Are you concern about this? "IB Hungary covers 100k on assets losses but IB Ireland just 20k??" I was reading the clause once again and the 100k is the maximim value. Not so sure if they will cover most of the investment of up to 100k for everyone or will cover this amount only in very ex...
by mrekvy491
Fri Dec 18, 2020 2:00 pm
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 106
Views: 18772

Re: Brexit Planning message from IB to EU customers

I was asked to transfer to IBCE. Seems like around 90% of the funds of up to 100k EUR will be covered. You can find it here https://ibkr.info/node/3587 in Question 4 of Part B. I will transfer and check if this is legit, and ask my wife to join IBCE and split our funds for now. But this doesn't chan...
by mrekvy491
Tue Dec 15, 2020 6:35 am
Forum: Non-US Investing
Topic: Bond portion without bonds? Options?
Replies: 9
Views: 1116

Re: Bond portion without bonds? Options?

I agree that bonds are almost a 'return-free risk'. I think real estate can be a good option, especially for people in emerging markets. Paying back mortgage principal gets rid of the fixed rate debt I have in local currency, and increases the net cash flow from the rent. And there are some fire sal...
by mrekvy491
Mon Dec 14, 2020 5:34 pm
Forum: Non-US Investing
Topic: Vanguard LifeStrategy ETFs now available in Germany and Italy
Replies: 51
Views: 6789

Re: Vanguard LifeStrategy ETFs now available in Germany and Italy

IB is sometimes confusing when it comes to assets that trade on different exchanges. What I find most useful is to search the product by ISIN. IB will then show you all available exchanges where you can trade it or you can choose SMART routing to get the best execution. For example, when you search...
by mrekvy491
Mon Dec 14, 2020 10:44 am
Forum: Non-US Investing
Topic: Vanguard LifeStrategy ETFs now available in Germany and Italy
Replies: 51
Views: 6789

Re: Vanguard LifeStrategy ETFs now available in Germany and Italy

Any one who using Interactive Brokers, can you find the German version of these ETF's tickers("V80A","V80D") on Interactive Brokers. I currently use Interactive Brokers and I can not found these tickers. I did found the Italian version("VNGA80","VNGD80") on I...
by mrekvy491
Mon Dec 14, 2020 3:13 am
Forum: Non-US Investing
Topic: Vanguard LifeStrategy ETFs now available in Germany and Italy
Replies: 51
Views: 6789

Re: Vanguard LifeStrategy ETFs now available in Germany and Italy

Thought about it, but am sticking to 100% VWCE-like global cap weighted equities and cash that could be used for early mortgage repayment every year. Do not really see the reason I should buy bond as someone in an emerging market (CZ). Bonds are basically a currency play these days. But a good news ...
by mrekvy491
Fri Sep 18, 2020 3:51 pm
Forum: Non-US Investing
Topic: I'm Polish - should I hedge bond ETF to EUR?
Replies: 13
Views: 1799

Re: I'm Polish - should I hedge bond ETF to EUR?

I think you are absolutely on to something. Two weeks ago I would have rejected the idea of using local real estate as a substitute for bonds. A young man called "the nomad capitalist" appeared on my YouTube feed. He goes around the world and finds and invests in local residential RE arou...
by mrekvy491
Fri Sep 18, 2020 3:49 pm
Forum: Non-US Investing
Topic: I'm Polish - should I hedge bond ETF to EUR?
Replies: 13
Views: 1799

Re: I'm Polish - should I hedge bond ETF to EUR?

I am in Czechia, and would get AGGH if I have to choose a bond. But I prefer local investment property much more. RE provides protection against inflation, passive income, and leverage. I like the idea of getting cheap leverage that would help me protect a chunk of my assets against 3% inflation, w...
by mrekvy491
Fri Sep 18, 2020 5:06 am
Forum: Non-US Investing
Topic: I'm Polish - should I hedge bond ETF to EUR?
Replies: 13
Views: 1799

Re: I'm Polish - should I hedge bond ETF to EUR?

I am in Czechia, and would get AGGH if I have to choose a bond. But I prefer local investment property much more. RE provides protection against inflation, passive income, and leverage. I like the idea of getting cheap leverage that would help me protect a chunk of my assets against 3% inflation, wh...
by mrekvy491
Tue Sep 15, 2020 4:31 am
Forum: Personal Investments
Topic: Anyone successfully living off dividends & interest?
Replies: 204
Views: 23015

Re: Anyone successfully living off dividends & interest?

Possible, but I prefer having few residential RE properties. If the low interest environment persists, people may start thinking that RE is much better than bonds.

All depends on the bank interest and whether Japanization will be the new norm.
by mrekvy491
Fri Sep 04, 2020 5:30 am
Forum: Investing - Theory, News & General
Topic: Chase performance all you want.. it doesn't need to matter
Replies: 112
Views: 8820

Re: Chase performance all you want.. it doesn't need to matter

Although this may sound like heresey, having market cap weighted global / market portfolio itself is a type of momentum, trend following strategy. A well balanced and cheap one.

I don't feel like there is much need to be more adventurous.
by mrekvy491
Tue Sep 01, 2020 1:54 pm
Forum: Non-US Investing
Topic: USD currency risk as a non-US investor
Replies: 61
Views: 5362

Re: USD currency risk as a non-US investor

I do not understand it really well, but my basic understanding is that the currency rate is based on monthly (or even daily in some funds) forward contracts. So a kind of a 'lock-in' I suppose. I read that The exchange rate is based on how the market expects the currency pair will perform over the ...
by mrekvy491
Tue Sep 01, 2020 11:20 am
Forum: Non-US Investing
Topic: USD currency risk as a non-US investor
Replies: 61
Views: 5362

Re: USD currency risk as a non-US investor

Do I correctly understand that by FX hedging you are actually locking in a spefiic exchange rate? So if you hedge USD to CHF when the rate is 0.90 CHF and USD gets to 1.10 CHF, you lose ~20% in FX gains? I do not understand it really well, but my basic understanding is that the currency rate is bas...
by mrekvy491
Tue Sep 01, 2020 10:55 am
Forum: Non-US Investing
Topic: USD currency risk as a non-US investor
Replies: 61
Views: 5362

Re: USD currency risk as a non-US investor

PPP suggests that CHF is overvalued at the moment, so it makes sense for you to keep unhedge portfolio too. CHF will probably come down, if the exchange market is really efficient, and PPP does explain the shifts in exchange rates in the long run. Moreover, you lose more of the CHF when the US mark...
by mrekvy491
Tue Sep 01, 2020 5:48 am
Forum: Non-US Investing
Topic: USD currency risk as a non-US investor
Replies: 61
Views: 5362

Re: USD currency risk as a non-US investor

I actually changed my mind and won't hedge equities. It's a zero sum game longterm, eventhough I believe that the CHF will get stronger than the difference in inflation would suggest. I just leave it to the market. Why should I know better. PPP suggests that CHF is overvalued at the moment, so it m...
by mrekvy491
Wed Aug 26, 2020 9:58 am
Forum: Investing - Theory, News & General
Topic: Vanguards says 'Why International Now'
Replies: 38
Views: 4679

Re: Vanguards says 'Why International Now'

If you expect a higher inflation in the US, holding internationals may be a good way to hedge your bet. Dollar can't go strong forever.
by mrekvy491
Tue Aug 18, 2020 1:40 pm
Forum: Non-US Investing
Topic: USD currency risk as a non-US investor
Replies: 61
Views: 5362

Re: USD currency risk as a non-US investor

It's not even USD alone for me. Other major currencies are even worse. If you compare the FX rates from 10 years ago to today in CHF: USD: 1.0425 -> 0.9063 (-13.1%) EUR: 1.3400 -> 1.0762 (-19.7%) GBP: 1.6259 -> 1.1876 (-27.0%) JPY: 1.2208 -> 0.8545 (-30.0%) At least US stocks had a great performanc...
by mrekvy491
Sun Aug 09, 2020 10:21 am
Forum: Non-US Investing
Topic: Leverage on mortgage
Replies: 17
Views: 1654

Re: Leverage on mortgage

I am buying a house and can get a bigger loan than I need for 2%. Should I maximize the loan so I can buy as much as I can in VWCE? Bogleheads don't like investing but I don't see this going wrong.. I think it depends on the property and your situation. If it is an investment property, and if you a...
by mrekvy491
Sun Aug 09, 2020 8:23 am
Forum: Non-US Investing
Topic: Leverage on mortgage
Replies: 17
Views: 1654

Re: Leverage on mortgage

I am buying a house and can get a bigger loan than I need for 2%. Should I maximize the loan so I can buy as much as I can in VWCE? Bogleheads don't like investing but I don't see this going wrong.. I think it depends on the property and your situation. If it is an investment property, and if you a...
by mrekvy491
Sat Aug 08, 2020 6:38 am
Forum: Non-US Investing
Topic: What is the equivalent of Vanguard in the EU?
Replies: 12
Views: 1100

Re: What is the equivalent of Vanguard in the EU?

Of course there are plenty of investors in the EU. But it's unwise to expect financial options to be the same over there as they are here. For example, 30-year mortgages are almost unheard of in most of Europe. High taxes (and beneficent government services in return .... ) cause individuals to hav...
by mrekvy491
Sat Aug 08, 2020 5:49 am
Forum: Non-US Investing
Topic: Three questions From newbie All weather investor
Replies: 6
Views: 840

Re: Three questions From newbie All weather investor

Hello! This is my first writing in Bogleheads and i use all weather portfolio. Here is my now portfolio. VT(Vanguard Total World Stock) -20% VWO(Vanguard Emerging Market Stock) -10% EDV(Vanguard Extended Duration Treasury)-22.5% LTPZ(Pimco 15 Year U.S. TIPS Index) -22.5% VCLT(Vanguard Long-Term Cor...
by mrekvy491
Tue Aug 04, 2020 2:50 am
Forum: Non-US Investing
Topic: Do you include your house in your portfolio?
Replies: 36
Views: 3240

Re: Do you include your house in your portfolio?

I think you should definetely consider the equity as something similar to bond if you plan to sell it and move to a LCOL area. I consider my investment property with a mortgage as part of my portfolio because mortgage interest rate is around 70-80% of inflation rate. So I get 'real' gains every year...
by mrekvy491
Sun Aug 02, 2020 4:26 pm
Forum: Non-US Investing
Topic: Need advice on currency hedging in Europe. Not in Eurozone.
Replies: 17
Views: 1085

Re: Need advice on currency hedging in Europe. Not in Eurozone.

What do you think your retirement currency will be? Likely in Europe, or South Korea? Hopefully it will be CZK. Maybe there is a case for EUR, although part of me says that we could move somewhere else if CZK appreciates so much :happy If it appreciates while you are still reasonably early accumula...
by mrekvy491
Sun Aug 02, 2020 3:46 pm
Forum: Non-US Investing
Topic: Need advice on currency hedging in Europe. Not in Eurozone.
Replies: 17
Views: 1085

Re: Need advice on currency hedging in Europe. Not in Eurozone.

What do you think your retirement currency will be? Likely in Europe, or South Korea? Hopefully it will be CZK. Maybe there is a case for EUR, although part of me says that we could move somewhere else if CZK appreciates so much :happy If it appreciates while you are still reasonably early accumula...