I’m in my mid 30’s and completely new to stocks and ETFs. Well, since one month now I’ve been learning a lot about this topic. The motivation has been the frustration of seeing my savings rot at 0% at Postfinance. First thing I read on the topic was Gerd Kommer’s book about ETFs, which was kind of a revelation for me. Since then I’ve been actively listening to two podcasts on passive investments: https://zendepot.de/ and https://www.finanzwesir.com/blog/kategorien/podcast. They present the topic in quite a simple and understandable way.
I’m now finishing the book “Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today” by Andrew L. Berkin and Larry E. Swedroe. It’s a pretty tough read for me, but I can see the general point: factors work long term, but they come at a price.
This book made me less enthusiastic about the factors. As the authors note, their effect has been diminishing.
I wonder if emerging markets could be considered a “factor” and how much weight they should have in a balanced portfolio.
As I’m climbing up my steep investing learning curve I am now collecting ideas how to build a good portfolio. Here is an interesting series of interviews with economics Nobel prize winners about the perfect portfolio (practical advice at the end of those interviews):
And it’s pretty good for beginners like myself. There’s lot of focus on US realities, but you can skip those chapters and read the main guiding principles.
I really liked this interview with Ray Dalio, where he explains the current economic situation and says that the expected returns for both stocks and bonds in the nearest are low:
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