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--- investing [2025/11/24 06:34] – [IBKR vs Schwab] jhagstrand
+++ investing [2025/11/30 00:30] (current) – [Key Ideas] jhagstrand
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 ====== Investing ======
+[[American Expat Retiree Financials | contents]]
+=====Key Ideas=====
+company types
+how to evaluate your broker/dealer: independent, conflict-free, ACAT
+broker/dealer accounts: taxable, deferred, tax-free Roth
+types of investments: stocks, bonds, mutual funds and ETFs
+how to evaluate investments: growth vs value, cap:large, mid, small, risk
+how to balance a portfolio
+financial advisor: how to choose
+(this is not key ideas, its organization)
+=====Updates=====
+====2025====
+SP500 etfs are over-valued now: IVV and SPY
+put VBIL in taxable account to prep for Roth Conversions
+if market crashes, do heavy Roth Conversions, have VBIL on hand to pay the taxes
+value vs growth
+I have everything in growth.  This is aggressive.
+In a sell-off you might want to have some value funds like VTV
+keep 50:50, rebalance every year in january
+international stocks are this year beating US stocks:  VXUS
+depends on strength of dollar
+Jack Vogel, founder of Vanguard
+Google, half of sales is foreign
+value funds have dividends, which have to be paid in the taxable account
 ====== Introduction ======
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 ====== Types of Companies ======
+Asset Manager, Broker/Dealer, Platform
 Fund Company
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   * Role: Product Creation, Management, Distribution
   * Examples: DWS, Vanguard, BlackRock, Fidelity.
+  * [[Top asset managers]]
 Brokerage
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   * Role: Trading, Custody, Advisory, Platform
   * Examples: E-Trade, Charles Schwab, TD Ameritrade.
+  * [[Top broker/dealers]]
 Platform
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   * Manager Risk
   * Regulatory Risk
+^ Category  ^  Examples  ^  Volatility  ^  Beta  ^  Drawdown  ^  Sharpe  ^  Profile  |
+| Money Market ETFs  |  BIL, SGOV  |  <1%  |  ~0  |  <1%  |  ~1.0–2.0  |  Lowest  |
+| Broad-Based ETFs  |  SPY, VTI  |  15–20%  |  ~1  |  ~25–35%  |  ~0.6–0.8  |  Moderate  |
+| Sector ETFs  |  XLK, XLV  |  20–30%  |  1.2–1.4  |  ~40%  |  ?  |  moderate to high  |
+| Micro-Cap ETFs  |  IWC  |  30–40%  |  1.5–2.0  |  50%  |  ~0.4–0.6  |  High  |
 For a comparison of risk metrics, see https://docs.google.com/spreadsheets/d/1odA0rQtmhgy-KLK0OQIlmdgc8HBu-tozPDbk04zxl08/edit?usp=sharing
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 =====IBKR vs Schwab=====
-^factor ^  IBKR	 ^  Schwaub  ^
+^ factor                                  ^  IBKR  ^  Schwaub  ^
-|independent |  YES  |  YES  |
+| independent                             |  YES   |  YES      |
-|conflict-free |  YES  |  NO  |
+| conflict-free                           |  YES   |  NO       |
-|beneficiaries on brokerage account  |  YES  |  NO  |
+| beneficiaries on brokerage account      |  YES   |  NO       |
-|beneficiaries on IRA account |  YES  |  YES  |
+| beneficiaries on IRA account            |  YES   |  YES      |
-|allows investment in GBTC and IBTC |  NO  |  YES  |
+| allows investment in GBTC and IBTC      |  NO    |  YES      |
-|great customer service |  NO  |  YES  |
+| great customer service                  |  NO    |  YES      |
-|supports indiret rollover of IRA |  NO  |  YES  |
+| supports indiret rollover of IRA        |  NO    |  YES      |
-|toll-free phone number for Thailand customers |  NO  |  YES  |
+| toll-free phone number for each country |  NO    |  YES      |