40% Fixed Income. We also use third-party cookies that help us analyze and understand how you use this website. We would alsoexpectfactors to have negative premiums from time to time, even for extended time periods. UpMyInterest 2019-2021 High Risk Portfolio Watch it here:Watch this video on YouTube. All of his podcasts, articles, and many other greats resources are without any profit motive. He is regularly published on MarketWatch.com, and offers free podcasts, articles, newsletters, and more on his website PaulMerriman.com. Thats certain to change. Vanguard has a useful tool here to help you choose. If you have already committed to a portfolio good for you! See the full list here. But opting out of some of these cookies may affect your browsing experience. Today, Merriman is retired, but he continues to write and speak on financial topics, and his work has had a lasting impact on the investment industry and individual investors alike. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. These cookies do not store any personal information. Rebalancing lowers your portfolio risk and may increase your returns. Deductions are permissible to the extent of the law. His newest one from November, 2020 is We're Talking Millions! Merriman has provided the facts on his website: US small cap (US SCB) and US small cap value stocks (US SCV) have outperformed S&P 500 massively! Rick Ferri's Core Four Portfolio 36% Vanguard Total Stock Market ETF (VTI) 18% Vanguard Total International Stock ETF (VXUS) 6% Vanguard REIT ETF (VNQ) 40% Vanguard Total Bond Market ETF (BND) "You only need a few asset classes in your portfolio, and after that there are diminishing returns. How do you build Paul Merrimans Ultimate portfolio with ETFs? Prefer video? It was my exact question, but there weren't any responses to it. Excluding stocks outside the U.S. means you're missing out on leading companies that happen to be based elsewhere. This is a paid product that gives you the 20 best-performing portfolios since 1989. At no additional cost to you, if you choose to make a purchase or sign up for a service after clicking through those links, I may receive a small commission. For long-term investors, an allocation of 55% U.S. stocks, 35% international stocks, and 10% U.S. bonds is a reasonable approach, but certainly not the only one. Privacy Policy. The login page will open in a new tab. Save my name, email, and website in this browser for the next time I comment. Click here for more information. Well, significantly different results if the start date is Jan 2007 rather than the way back you used. Note again though that this is a high-risk portfolio that is likely better suited for investors with a high risk tolerance and a long time horizon. You can also view how different allocations have performed historically. Emerging Markets and international small cap stocks have crushed the U.S. market historically, for example, as they're considered riskier, and investors are compensated for that greater risk. Do your own research before selecting an index fund for your portfolio. In his book, the Intelligent Asset Allocator, Bill Bernstein examines academic research and historical performance to arrive at a relatively simple to implement portfolio that he expects to perform well for the long-term. Yes, thats a lot, although implementing it with a broker like M1 Finance makes managing the portfolio very easy. When it does, Paul Merriman's portfolio could easily outperform the Warren Buffett portfolio over a period of time. It's well documented that small-cap and value stocks have outperformed over the long haul. Podcast Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The work he is doing now is strictly non-profit. Therefore, the information here presented are not specific recommendations but instead for information purposes only. Please note that past performance is not a guarantee of future returns. Opinions are my own and do not represent those of other parties mentioned. Where can I learn more about Paul Merriman? For equities, it consists of 10 asset classes. Check out my flat-fee-only fiduciary friends over at Advisor.com. I just put an example of what I see most people using because many US investors prefer home country bias, for better or for worse. At other times the 3-fund portfolio will outperform. Great question, Keith. Lump Sum Investing (DCA vs. LSI), How To Invest Your HSA (Health Savings Account), Factor Investing and Factor ETFs The Ultimate Guide, Paul Merriman Ultimate Buy and Hold Portfolio. That noted, the relative performance over a lengthy period seems to compare favorably with the S&P 500 Index. This is a slightly different variant of the Ultimate portfolio. Which portfolio is best - Ray Dalio's All-Weather portfolio or the Permanent portfolio? We have hundreds of investment ideas in the compilation. Core 4 80/20 Portfolio I wrote a comprehensive review of M1 Finance here. Don't subscribeAllReplies to my comments Notify me of followup comments via e-mail. Merriman's original philosophy was known in investing circles as the "Ultimate Buy and Hold" portfolio. You can find them here. Select portfolio: Click to enlarge. CAGR for S&P 500: 10.00 %; Merrimans 4 fund portfolio: 9.28. All information on this site is provided free of charge (with the exception of books for sale) and is funded in full by The Merriman Financial Education Foundation.Anyone wishing to use this educational information in web-based or printed materials are welcome to do so with the following attribution and link: This information freely provided courtesy ofPaulMerriman.com. We would also appreciate a copy and link of where it has been published via email. Traditional IRA Which Is Better for You? We also use third-party cookies that help us analyze and understand how you use this website. As the name implies, the portfolio comprises four funds (ETFs). Then because VOOs inception date is more recent than VFINX, I used VFINX to represent the S&P 500. Vanguard has both index mutual funds and actively managed funds. Im curious as to why you use allocations that are so different than those for the 80/20 on the the Bogleheads site. The Paul Merriman 4 Fund Portfolio looks like this: 25% S&P 50025% Large Cap Value25% Small Cap Blend25% Small Cap Value. How $10,000 will help my newborn granddaughter have a better retirement, Help your teenager turn $500 into nearly $2 million, How to buy 10 years of retirement for $3,650, The Merriman Financial Education Foundation, Vanguard Tax-Managed Small-Cap Admiral Shares *, Vanguard Small-Cap Value Index Admiral Share, Vanguard Developed Markets Index Admiral Shares, Vanguard FTSE All-World ex-US Small Cap Index Admiral, Vanguard Emerging Mkts Stock Index Admiral Shares, Vanguard Global Ex-US Real Estate Index Admiral Shares, Short-Term Government Bond Index Admiral Shares, Intermediate-Term Government Bond Index Admiral Shares, Short-Term Inflation-Protected Securities Index Admiral Shares, * The Tax-managed Small-Cap Admiral Shares (VTMSX. Together with Chris Pedersen, Paul Merriman has constructed what he calls theultimate target-datefund. Golden Butterfly Portfolio If you're looking for income then you should look at this list of the 20 best income portfolios. Search the website Podcast Fixed distributions 2023 MarketWatch Article -coming soon Tables Table D1.3 Fixed Distributions: S&P Equity Portfolio-initial distribution $30,000 Table D1.4 Fixed Distributions: The same but initial distribution $40,000 Table D1.5 Fixed Distributions: The same but initial distribution $50,000 Table D1.6 Fixed Distributions: The same but initial distribution $60,000 . This 4-fund combo seems to provide a slight advantage. For those that want to approach the problem of financial independence from a minimalist, stoic, frugal, or anti-consumerist trajectory. If U.S. stocks are declining, international stocks may be doing well, and vice versa. As Proposed by Bill Schultheis, author and investment adviser. The volatility and risk reduction benefits are another conversation entirely, which is of huge significance for a retiree. Necessary cookies are absolutely essential for the website to function properly. Return Stacking Explained Greater Returns With Lower Risk? How To Beat the Market Using Leverage and Index Investing, 8 Reasons Why Im Not a Dividend Income Investor, M1 Borrow Review (How M1s Margin Loan Works), The 10 Best ETFs for Retirement Portfolios in 2023, The 4% Rule for Retirement Withdrawal Rate A Revisitation, Sequence of Return Risk in Retirement Explained. Jack Bogle Was Wrong About These 3 Things, I Bonds Explained (US Savings Bonds) Ultimate Guide (2023), Sharpe Ratio vs. Sortino vs. Calmar Risk Adjusted Return, Portfolio Risk Explained How To Think About Risk and Volatility. Also, with just two asset classes, some opportunities for diversification are missed. In short, geographic diversification in equities has huge potential upside and little downside for investors. 2. BlackRock and Vanguard, the world's biggest money managers, disagree on how it will fare in future. Also offers services including brokerage, retirement investing, advice and college savings. Last Updated: March 5, 2023 13 Comments 5 min. 80/20 VTI/BND turns into 98/12 stocks/bonds if you replace BND with NTSX. It is mandatory to procure user consent prior to running these cookies on your website. Simplified Version of A University Portfolio For, on page 20 of his 2013 letter to Berkshire Hathaway Shareholders, value of having some bonds in your portfolio, 90% low cost S&P 500 tracker (here Buffett specifically suggests Vanguard asa. The standard deviation of Merriman's portfolio, when rebalanced annually, weighs in at 18.5%, compared to 16.9% for the S&P 500. We do not endorse Vanguard or receive any compensation from them. Paul Merriman 4 Fund Portfolio historical performance. Assuming a retirement age of 60, my general rule of thumb is to use [age-20] for bond allocation, obviously titrating up or down based on risk tolerance. Bogleheads 4 Fund Portfolio Historical Performance, Bogleheads 4 Fund Portfolio ETF Pie for M1 Finance, Check out my flat-fee-only fiduciary friends over at Advisor.com, Improving M1 Finances Moderate Portfolio Expert Pie, M1 Finance vs. Stash Brokerage Comparison [2023 Review], QQQ vs. QQQM NASDAQ 100 Index ETFs from Invesco. Both strategies are designed to help individual investors achieve their financial goals with minimal cost and effort. The portfolio is 100% stocks and is thus considered more risky than his Ultimate Buy and Hold Portfolio. With a dozen different holdings and lots of rebalancing, though, people didn't really stick to itit was too much for an individual investor to casually manage. Yield: This is the expected dividend yield of the portfolio. Paul Merriman is a big fan of small caps and value on which he has done extensive research. Your email address will not be published. Or use the diversification use case for NTSX that I outlined here. Merriman has also been a frequent speaker at financial conferences and events and contributed to many financial publications and websites. Well each of them advocate owning both stocks and bonds. https://www.bogleheads.org/wiki/Vanguard_four_fund_portfolio. This gets you fully diversified globally across all styles and cap sizes for stocks and bonds. This website uses cookies to improve your experience while you navigate through the website. No single country consistently outperforms all the others in the world. M1 Financeis a great choice of broker to implement the Bogleheads 4 Fund Portfolio because it makes regular rebalancing seamless and easy, has zero transaction fees, allows fractional shares, and incorporates dynamic rebalancing for new deposits. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. There is a reason why Paul Merriman suggested the exact portfolio composition as he did. Again, theres no consensus here, some would exclude these assets entirely, but those that include favor allocations to real assets in the 10% to 20% range. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); Sign up to receive email updates when a new post is published. His book Financial Fitness Forever: 5 Steps to More Money, Less Risk, and More Peace of Mind is fantastic and stuffed with sage advice, statics, and evidence-based best-investing practices. The Bogleheads 4 Fund Portfolio is globally diversified across stocks and bonds. This is below the CAGR of S&P 500 during this period, and thus the Merriman 4 fund portfolio has underperformed. Unfortunately the Size and Value factors suffered for the decade 2010-2020, lagging the market. Asset Allocation and ETFs A profit target is exactly what the name says: a pre-set price where the trader takes profits and exits the trade/position. Required fields are marked *. Below you can see the returns of Paul Merrimans portfolios. One of them is the profit target. What is unique about Paul Merrimans portfolios? Small stocks have beaten large stocks historically, presumably because investors demand higher returns for riskier, more volatile small-cap stocks compared to large-cap stocks. The Paul Merriman 4 Fund Portfolio, as the name suggests, is a lazy portfolio designed by Paul Merriman that utilizes equal weightings of 4 assets. Past performance does not guarantee future results. I think theres an argument for the beauty of simplicity with GOVT, but SPIP or LTPZ would be better as inflation hedges. Finally, most portfolios, but again not, all include some international stock market exposure. In short, there's no good reason to consciously avoid international bonds, but there's also no good reason to embrace them either; it's unlikely to help your portfolio, and it's unlikely to hurt it. Traditional IRA Which Is Better for You? Paul's Mutual Fund Recommendations For Vanguard Updated January 4, 2021 Vanguard Tax Deferred Portfolios * The Tax-managed Small-Cap Admiral Shares (VTMSX) are used, rather than Small-Cap Index (VSMAX), as VTMSX has much smaller average size companies and more deeply discounted value companies. Link to his website article: https://paulmerriman.com/market-got-you-down-how-to-construct-a-comeback-portfolio/, Link to original post: https://www.reddit.com/r/Bogleheads/comments/l6jw7p/thoughts_on_paul_merrimans_4fund_portfolio/, Scan this QR code to download the app now, https://paulmerriman.com/market-got-you-down-how-to-construct-a-comeback-portfolio/, https://www.reddit.com/r/Bogleheads/comments/l6jw7p/thoughts_on_paul_merrimans_4fund_portfolio/. Paul A. Merriman Three all-star equity portfolios Getty Images/iStockphoto Referenced Symbols SPX -0.81% Since the mid-1990s, I have been teaching investors that the very best way to. For a list of the strategies we have made, please click on the green banner: These strategies must not be misunderstood for the premium strategies that we charge a fee for: Last Updated on April 18, 2023 Should you use profit target in your trading strategy? Paul Merriman is retired (he used to run his own investment consulting shop). TQQQ Is It A Good Investment for a Long Term Hold Strategy? (And total gains from all the "winning". Content on this website should not be used when making investment decisions. What are some alternatives to Paul Merrimans portfolios? The portfolio consist of the following assets: For our backtest (see more below), we chose the following ETFs: There is a reason why Paul Merriman suggested the exact portfolio composition as he did. The consent submitted will only be used for data processing originating from this website. He believe this portfolio will be superior to those attained by most investors whether pension funds, institutions or individuals.. I always attempt to ensure the accuracy of information presented but that accuracy cannot be guaranteed. The Best Calendar Days Of The Year To Own Stocks, Klinger Oscillator Strategy What Is It And How Does It Perform? I have first-hand experience with every product or service I recommend, and I recommend them because I genuinely believe they are useful, not because of the commission I get if you decide to purchase through my links. He has a number of variations of his portfolios, but here we take Portfolio #7 as described here which captures all his main insights on equity asset classes. 10% . When it does, Paul Merrimans portfolio could easily outperform the Warren Buffett portfolio over a period of time. If you are looking for target-date funds, be sure to check out our growing Target Date Fund Portfolio overview. And is there one youd personally prefer? In this article, I provide hard facts about how my second-guessing, Read More The Cost of Second Guessing Trading Strategies (Why You Need A Written Trading Plan and Log)Continue, Last Updated on April 18, 2023 High Probability ETF Trading, published in 2009 and written by Larry Connors and Cesar Alvarez, contains some interesting strategies. The six years of losses in the S&P 500 added up to 87.6%; in the four-fund combination, the total was 90.3%. I don't employ or advise market timing, butAQR maintainsthat Value is basically the cheapest it's ever been right now relative to history, suggesting that now may actually be theworsttime to give up on the factor, and that it's due for a comeback. The Warren Buffett ETF Portfolio became famous when, in a 2013 letter to Berkshire Hathaway shareholders, Buffett indicated that upon his passing, the trustee of his estate will invest 90% of his wife's inheritance in a low-cost index fund and 10% in short-term government bonds. I plan to mirror this portfolio for my Roth IRA. John,Just Portfolio Visualized Paul Merrimans 4 Fund portfolio using the funds you suggest. As such, over the time period measured for this article, the portfolio has lagged a bit. Paul Merrimans Ultimate Portfolio: 10 X 10 = Winner? RSSB ETF Review Return Stacked Global Stocks & Bonds ETF, Fees, Trees, & Forests Stop Obsessing Over Expense Ratios, Optimized Portfolio Best in Class ETFs List for 2023, 7 Best Covered Call ETFs for Income Investors in 2023, Roth IRA vs. All investing involves risk, including the risk of losing the money you invest. If one did, that outperformance would also lead to relative overvaluation and a subsequent reversal. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. This is close enough I'd call it a toss-up. Brownes portfolio is designed to hold up well in any economic environment and be a simple portfolio to implement. 9.00% International Developed Blend (VEA), 9.00% International Large Cap Value (EFV), 9.00% International Small Cap Blend (VSS), 9.00% International Small Cap Value (DLS), 3.60% International Developed Blend (VEA), 3.60% International Large Cap Value (EFV), 3.60% International Small Cap Blend (VSS), 30.00% Intermediate-Term Treasuries (VGIT), 3.60% International Small Cap Value (DLS), 5.40% International Developed Blend (VEA), 5.40% International Large Cap Value (EFV), 5.40% International Small Cap Blend (VSS), 20.00% Intermediate-Term Treasuries (VGIT), 5.40% International Small Cap Value (DLS), 6.00% International All-World ex-US (VEU), 6.00% International Large Cap Value (EFV), 6.00% International Small Cap Blend (VSS), 6.00% International Small Cap Value (DLS), 3.13% International All-World ex-US (VEU), 3.13% International Large Cap Value (EFV), 3.13% International Small Cap Blend (VSS), 12.00% Intermediate-Term Treasuries (VGIT), 6.73% International Small Cap Value (DLS), 2.70% International All-World ex-US (VEU), 2.70% International Large Cap Value (EFV), 2.70% International Small Cap Blend (VSS), 25.00% Intermediate-Term Treasuries (VGIT), 2.70% International Small Cap Value (DLS), 6.00% International Developed Blend (VEA). Ivy League Portfolio The Four Fund Combo is built on four index funds (or exchange-traded funds) that include the most basic U.S. equity asset classes: large-cap blend stocks (the S&P 500 SPX,+0.27%,in other words), large-cap value stocks, small-cap blend stocks, and small-cap value stocks. Firstly own both stocks and bonds, secondly consider real assets like commodities and/or real estate, and finally some international diversification may be helpful. Investment products discussed (ETFs, mutual funds, etc.) Profit Target: Should You Use It In Your Trading Strategy? Sure, just know those are two very different investments. Cookie Notice The blue circle shows the return of the 4-fund combo . In addition, due to COVID-19, the United States Postal Service and other carriers have temporarily suspended mail service to various international jurisdictions. are for illustrative purposes only. Fidelity ZERO Funds Review Whats the Catch? All portfolios are slightly different in the precise allocations, but most follow these patterns. Do your own due diligence. They have experienced long periods of underperformance, however. Year to date: This shows what the portfolio has returned this year starting from the first trading day of the year. A good number of these social media users participate in the financial markets and use Twitter to disseminate their interest in the market. No representation, warranty or undertaking, stated or implied, is given as to the accuracy or completeness of the information contained herein. This category only includes cookies that ensures basic functionalities and security features of the website. This high-performing portfolio is part of Portfolio Einstein Premium Portfolios. After logging in you can close it and return to this page. Do, Read More Larry Connors RSI 25 & RSI 75 (It Still Works) | Trading StrategiesContinue, Last Updated on April 18, 2023 How To Find and Generate Trading Ideas. Your email address will not be published. Historically, small caps have offered higher returns than large caps, and value stocks have proved to return slightly better than growth stocks. Maybe decide on a target asset allocation and then choose funds to fit that. Larry Swedroe suggests, based on a 2014 Vanguard paper, that investing in foreign bonds may be prudent for reducing portfolio volatility if and only if the investor can do so with low fees and with currency hedging to eliminate currency risk. Paul Merrimans portfolios are characterized by one of two features: Paul Merrimans portfolios have evolved over the years. 10 Swing Trading Strategies Backtested (With Rules, Video And Tips). This portfolio lacks any diversification to the U.S. stock market and hence may be too volatile and/or risky for some investors. The Coffeehouse Portfolio How often should we adjust bonds to match our age -20? Over longer periods of time, say the past 5 decades, the strategy has performed extremely well. Disclosure: Some of the links on this page are referral links. It is completely FREE. How do Paul Merrimans portfolios compare to the best portfolios? The performance data covers January 2010 to May 2021, an important limitation well return to in a minute. The trading rules are compiled into a package where you can purchase all of them (recommended) or just a few of your choice. 4 VIX trading strategies What Is The VIX Index And How Does It Work? Paul Merrimans podcast Sound Investing. Paul Merriman is a financial advisor and has presented several low-cost passive investment strategies. Paul Merriman 4 Fund Portfolio Performance vs. the S&P 500, Paul Merriman 4 Fund Portfolio ETF Pie for M1 Finance, We're Talking Millions! One of them is Paul Merriman 4 Fund Portfolio. Learn to build Research Affiliates model portfolios. The key is that any of the above Lazy Portfolios should be a core part of a long-term, buy and hold investing strategy. Required fields are marked *. Ive been following this portfolio with Fidelity funds for couple of years now, but want to do some tilts without adopting a whole new portfolio. Paul Merriman Ultimate Buy and Hold Strategy. Disclaimer: While I love diving into investing-related data and playing around with backtests, this is not financial advice, investing advice, or tax advice. You also have the option to opt-out of these cookies. Beginners Start Here 10 Steps To Start Building Wealth, What Is the Stock Market? The research is sound and the concept is simple. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); Sign up to receive email updates when a new post is published. So even, if none of these particular portfolios appeals to you, there are some clear lessons to take away. Some might argue this doesnt sound like much of a difference, but over 30 years, it makes a huge difference. To be precise, Merriman aimed at size and value factors. Opinions expressed by Forbes Contributors are their own. The inclusion of international bonds in diversified portfolios and target date funds is a fairly recent occurrence. The podcast references information on 8 different distributions tables: Table D1.3 Fixed Distributions: S&P Equity Portfolio-initial distribution $30,000 But all fundamentally recognize the value of having some bonds in your portfolio. We got the following equity curve: The annual return was 10.6%, and the max drawdown was 39%. What Is a Leveraged ETF and How Do They Work? Paul Merrimans Ultimate Portfolio can be built with 10 ETFs. Further, there are other lazy portfolios worth considering, such as the David Swensen Portfolio or the Ray Dalio Portfolio. As the name suggests, it consists of just three asset classes: How much an investor allocates to each asset class will depend on their risk tolerance and investing time horizon. VOO vs. VTI Vanguard S&P 500 or Total Stock Market ETF? Bond MOVE Index And TLT Trading Strategy (Backtest). VXUS vs. IXUS Vanguard or iShares International ETF? Value stocks beat Growth stocks and small stocks beat large stocks in 2021 and 2022, so that comeback may be happening. Deductions are permissible to the extent of the law. Paul founded Merriman, a fee-only investment advisory firm in 1983. Today we look at a seasonal trading strategy in crude oil. What is Paul Merrimans 4 Fund Portfolio? I have first-hand experience with every product or service I recommend, and I recommend them because I genuinely believe they are useful, not because of the commission I get if you decide to purchase through my links. The information on this website is for informational, educational, and entertainment purposes only. The theory and mechanics underlying the composition of the 4 Fund Portfolio is the same as that of the 3 Fund Portfolio. You mention the need the general theory of the need for more international exposure, but this version of the 4 fund portfolio has less. All investing involves risk, including the risk of losing the money you invest. At other times the 3-fund portfolio will outperform. It was designed by Paul Merriman, a well-known financial educator and advisor, as a low-cost, diversified portfolio that individual investors can easily implement. Don't want to do all this investing stuff yourself or feel overwhelmed? It shows the power of diversification that brings home excellent returns while keeping risk in check. TIPS are likely only needed at or near retirement. I can prove this using Portfolio Visualizer. You can also subscribe without commenting. The main idea behind the holdings is to capture risk premiums based on long-term evidence. The Merriman Financial Education Foundation is a registered 501(c)(3) organization founded in 2012. (2023), How To Build a 3 Fund Portfolio at Fidelity in 2023. Read my lengthier disclaimer here. It turns out many experts have come up with portfolios that they would, and often do, implement for themselves or their loved ones. Jack Bogle Was Wrong About These 3 Things, I Bonds Explained (US Savings Bonds) Ultimate Guide (2023), Sharpe Ratio vs. Sortino vs. Calmar Risk Adjusted Return, Portfolio Risk Explained How To Think About Risk and Volatility. You stand to gain thousands more dollars EACH YEAR for the price of a few months of Netflix. We have written over 1200 articles on this blog since we started in 2012. This portfolio may not reflect the current view of the author. The strategies are taken from our landing page of investment strategies. The cost of second-guessing my written trading strategies shows why you need a trading plan. Paul Merriman is retired (he used to run his own investment consulting shop). We think we have found it but we still continue looking! Large cap Value: 11.2%Small cap stocks: 12.1%Small cap Value: 13.4%. QYLD Avoid This ETF as a Long-Term Investment (A Review), The 5 Best T Bill ETFs (Treasury Bills) To Park Cash in 2023, JEPI ETF Review JPMorgan Equity Premium Income ETF, SPAXX vs. FZFXX, FDIC, FCASH, FDRXX Fidelity Core Position. In this article well look at three of the most popular ones. It's well documented that small-cap and value stocks have outperformed over the long haul. In addition to his work with clients, he has authored several books on investing, including Financial Fitness Forever and Live It Up Without Outliving Your Money!.
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