All Asset No Authority Portfolio Review (AANA) & ETFs

Рет қаралды 1,724

Күн бұрын

Get this portfolio here: www.optimizedportfolio.com/go...
The All Asset No Authority Portfolio is a medium-risk portfolio of 7 equally-weighted assets. Here we'll look at its components, performance, and the best ETFs to use in its construction.
// TIMESTAMPS:
00:00 - Intro
00:11 - What Is the AANA Portfolio?
01:13 - Performance
01:42 - Review
04:04 - How To Build with ETFs
04:23 - Conclusion
// SUMMARY:
The All Asset No Authority Portfolio - or AANA for short - comes from Doug Ramsey, the Chief Investment Officer at Leuthold & Co., a fund management firm that has been around for nearly half a century. Ramsey named the portfolio based on the idea that agnostically equally weighting the assets takes away the authority of the investor who would mess things up by overfitting or chasing recent performance.
The All Asset No Authority Portfolio takes 7 assets and weights them equally at about 14.3% each:
U.S. Large Cap Stocks
U.S. Small Cap Stocks
Ex-US Developed Markets
Gold
Commodities
U.S. REITs
Intermediate Treasury Bonds
At first glance, the All Asset No Authority Portfolio is reminiscent of other well-diversified portfolios built for all economic environments like the All Weather Portfolio, Permanent Portfolio, Ivy Portfolio, and David Swensen Yale Model Portfolio. Like those, it aims to provide lower volatility and lower risk by utilizing assets that may do well during inflationary periods relative to traditional stocks and bonds.
The All Asset No Authority Portfolio seems to want to maximize diversification, but doesn't seem to do a great job at accomplishing that. In my opinion, it has many of the assets one would find in a retiree's well-diversified portfolio, but in allocations that wouldn't be appropriate for most retirees.
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Пікірлер: 16

@OptimizedPortfolio 7 ай бұрын

What do you think of the AANA Portfolio? Get it here: www.optimizedportfolio.com/go/aana

@jasonhobbs2405 7 ай бұрын

Hey John. A while back you put out a poll, asking what type of videos we’d like to see more of. This has nothing to do with this particular video, but I’m responding to that. I’d love to see your analysis of alternative ETFs by simplify. They have a host of products that are far beyond my understanding or comfort level, but some may offer interesting parings for something like UPRO. CHEERS!

@OptimizedPortfolio 7 ай бұрын

Thanks for the suggestion, Jason!

@jlb8809 23 күн бұрын

You missed the second most important part of the strategy: when you are in or out of an asset. The strategy uses a 200 day sma for each asset to determine if you are in or out of an asset. If an asset is below its 200 sma it’s left in cash. You go back into the asset when the price moves above the 200 sma. This check is usually done monthly.

@OptimizedPortfolio 21 күн бұрын

Thanks for sharing. Somehow I did not run across that timing protocol in researching this strategy.

@YohanMaximillian 7 ай бұрын

John, you gotta do a video eventually on the new Avantis ETF, AVEE (small cap emerging market). I know DGS originally captured this portion of the market for you, but I would want to know your thoughts on how AVEE compares. Thanks.

@OptimizedPortfolio 7 ай бұрын

Indeed, just put out a little blog post on those actually: www.optimizedportfolio.com/avantis-new-etfs-november-2023/

@tirevelation777 7 ай бұрын

Do you have a video on the 4% rule? and in a perfect scenario does the 4% rule touch principal invest or just gains during the 30 years?

@OptimizedPortfolio 7 ай бұрын

Not yet. For now, blog post: www.optimizedportfolio.com/4-percent-rule/

@kentvoyce926 6 ай бұрын

John, which of the 7 asset classes did the best in 2023? By doubling down on it in 2024 , will supposedly improve performance.

@OptimizedPortfolio 6 ай бұрын

US large caps? Past performance does not predict future performance.

@Kenster-man 7 ай бұрын

When you get the chance I'd like to see a review of the new Dimensional Largecap Vector ETF (DFVX). It's described as focusing on Profitability + Value --- but if so then what's the difference between that and their Large Value ETF (DFLV)? My hunch is that DFLV is more Value heavy and moderate on Profitability - and I believe DFVX is the reverse where it's heavier on Profitability with moderate weighting on Value. That's what I think based on what I read and glancing over the holdings. Very interesting addition to their lineup (DFVX) and I'm curious why they did that - and this new DFVX ETF seems like it's the offspring from combining 2 of their ETFs...DFLV (Large Value) and DUHP (High Profitability). Just my thoughts.

@OptimizedPortfolio 7 ай бұрын

Thanks for the suggestion!

@cihant5438 7 ай бұрын

"No authority" is a bit of a misnomer. The asset classes he picked are not the 7 classes I would choose. Why is "gold" separate from "commodities"? This portfolio is much more a sales job than a scientific approach to constructing a "no authority" portfolio.

@OptimizedPortfolio 7 ай бұрын

Would probably agree.

@utube4mica 7 ай бұрын

What a horrible portfolio, in my opinion. Fails to keep up with inflation, trails a basic 60/40 portfolio by over 1.1%, and with higher volatility. They really should go back to the drawing board...