Investing expert Larry Swedroe joins Joe Anderson, CFP® and Big Al Clopine, CPA to discuss his new book on factor-based investing in episode 62 of the YMYW podcast. Larry also discusses smart beta, his take on the upcoming election, and how investors should react depending on the outcome. Original publish date September 3, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed.
00:00 – Intro
02:02 – “Can the IRS take the property from my trust?”
04:38 – “How much can I collect in widow’s benefits?”
08:24 – “Can I re-gift a stock?”
12:35 – “A 401(k) plan will allow someone to put an amount directly into their paycheck into an account that will grow 100% tax-deferred…it’s out of sight, out of mind.”
15:02 – “When you start tapping your retirement nest egg, there are all types of rules – if you don’t have a retirement nest egg, you have nothing to tap.”
15:50 Start of Interview with Larry Swedroe
18:27 – “We identify eight factors in this book – six for stocks and two for bonds…”
20:12 – “We should have a risk-based explanation for these premiums and/or a behavioral explanation that should hold up.”
20:20 – “The book goes through all of these issues for every one of the factors we recommend, and shows you the historical evidence.”
22:47 – “Now there’s something that’s called smart beta. What’s your take on that? That’s just factor investing with a marketing ploy isn’t it?”
24:49 “That, to me, is smart beta because it’s patient trading and over time will outperform the index.”
25:44 – “There is a thing that you can call smart beta, but 98 or 99 percent of what the industry calls smart beta is marketing hype.”
29:19 – “Never let your political views influence your investment decisions. You should have that well thought-out investment plan that has your asset allocation. The only thing you should be doing is 1) rebalancing if necessary and 2) tax managing if the opportunity to harvest a loss is there.”
33:38 – “The more you look at your portfolio, the more hazardous it potentially is to your wealth.”
35:35 – “If you can’t ignore the noise of the market…don’t check your value.”
35:55 End of Interview with Larry Swedroe
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IMPORTANT DISCLOSURES:
Pure Financial Advisors is a registered investment advisor. This show does not intend to provide personalized investment advice through this broadcast and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the broadcast in the process of making a full and informed investment decision.
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are not intended as investment advice or to predict future performance.
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• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.
