Portfolio needs a bit of balance

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Judging by the multitude of “risk tolerance” or “investor risk profile” questionnaires I have filled out lately, I should invest in a “balanced” portfolio of about 60 percent stocks and 40 percent fixed income. But there is no way I am going to do that, not now. Although I am risk-averse, 60 years old and semi-retired, the questionnaires steer me toward a stock-dominated portfolio. That’s largely because I tend to hold my investments for the long term and still supplement my investment income with my freelance writing. The asset allocation of 60 percent stocks and 40 percent fixed income is the one that more closely corresponds to my answers to questions about investment experience, goals and risk-reward trade-offs. But that’s not what my gut tells me, and I am going with my gut. My decision is to keep no more than 30 percent of my portfolio in stocks now (or 40 percent tops, counting real estate and commodities). I sleep soundly at night with this more conservative portfolio and still expect to achieve the return I need to fulfill all my financial goals. I am not at all suggesting that my asset allocation is appropriate for most people my age, let alone others. There is no one “right” asset allocation, only one that’s best suited for you, given your unique circumstances and goals. Rather, I want to make these points: First, the ubiquitous risk-tolerance questionnaires you see in financial magazines, or receive as part of the sales literature for mutual funds, variable annuities and other investments, are only one tool among many to help determine how much risk to assume. Second, even if a questionnaire gauges your risk tolerance correctly, you should treat it like a speed-limit sign. If a questionnaire suggests an 80 percent stock allocation based on your risk tolerance, for example, I would read it as saying you shouldn’t have more than 80 percent of your money in stocks, not that you must have 80 percent in them. “Unfortunately, a lot of the questionnaires are designed to find an estimate of your maximum risk tolerance, which is really to the benefit of Wall Street sales people,” said Richard A. Ferri, a chartered financial analyst and author of the book “All About Asset Allocation,” published by McGraw-Hill in September. The riskier asset classes, such as stocks, typically come with higher expenses and management fees. Most people tend to overestimate their risk tolerance. That’s why most investors would be better off with an asset allocation below their maximum risk tolerance. Otherwise, “you are not going to maintain your plan,” and panic and sell at the wrong time, said Ferri, president of Portfolio Solutions LLC, a low-cost, fee-based investment advisory firm in Troy, Mich. For his firm’s clients, Ferri offers an “asset allocation stress test” that shows, in actual dollar losses rather than just percentages, how a particular asset allocation would have performed during previous down markets. “I’ve been in this business almost 20 years, and I find that most people have a risk tolerance that is lower than what they are willing to admit in public or in a risk-tolerance questionnaire,” Ferri said. In addition, we often answer the same questionnaire differently at different times in our lives, or depending on recent good or bad news (a promotion at work or a layoff, for example) or even on our mood a particular day. Before we can choose an appropriate asset allocation, we have to at least have an idea of the return we need. If 5 percent a year is enough to meet our goals, it would be foolish to take unnecessary risks (and perhaps incur a big loss) with an aggressive portfolio designed for somebody who needs much higher returns. “You need to do a realistic cash flow analysis,” which in turn leads to an estimate of the investment return you need and an appropriate asset allocation, and/or adjustments in your budget and spending, Ferri said. But “people aren’t doing the math,” he said. My observation is that most people don’t have a clue of the return they need and therefore take unnecessary risks (or don’t take enough). A qualified professional adviser can help in this area. As a rule, Ferri recommends that even investors who have enough savings or income sources to be able to sidestep all stock investment risk keep a minimum of 20 percent of their portfolio in equities (for example, 10 percent U.S. stocks, 5 percent international stocks and 5 percent real estate investment trusts). Historically, such diversified portfolios have been less volatile than an all-bond portfolio and have provided higher returns. Humberto Cruz offers personal finance advice. Write him at [email protected]last_img read more

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Charles Barkley to Klay Thompson: Warriors “not going to make the playoffs”

first_imgSay this about Charles Barkley: when he makes a prediction, he makes sure his foot is in easy access of his mouth.Which is to say that even when his prognosticative abilities let him down — and remember he once said the Warriors played “little girly basketball” — he never runs from them.Exhibit A: last spring, Barkley pronounced that the Clippers would reach the conference finals. And they might have, had not the Warriors taken them down in six games.Exhibit B: Barkley, in the wake of …last_img read more

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Sharing his love of horses

first_imgFounded in 2008, the Soweto Equestrian Centre is the only one of its kind in Soweto, the biggest township in SA. Enos Mafokate stroking his favourite horse Salmy. Mafokate regards Salmy, 23 years old, as part of his family after their many triumphs together. Sifiso Hlatshwayo and Menzi Buthelezi, holding the saddles they made during the saddler course. (Images: Ray Maota) MEDIA CONTACTS • Enos Mafokate  Soweto Equestrian Centre: Founder  +27 82 330 7030 RELATED ARTICLES • SA horse goes for glory in Hong Kong• South Africa’s shark whisperer• SA puppet company wins a Tony • Gallery: South Africa’s wildlifeRay Maota“I have a dream that one day a student from the Soweto Equestrian Centre will compete for South Africa in the Olympic Games.”This quote stands out on the homepage of the website for the centre, run by former show jumper, Olympian and horse groomer Enos Mafokate.Mafokate (66) is a man in love with horses. He has achieved what many would have deemed impossible – breaking into a white-dominated sport during the height of apartheid in 1960s’ South Africa.One of the high points of his career came when he was asked to travel to the 1992 Olympic Games in Barcelona, as a member of a South African development team. This marked South Africa’s first participation in the event for over 30 years, because of a decades-long international sporting embargo.Mafokate rode in the official parade and although he didn’t compete, his presence at the Olympics was a huge inspiration to himself and to up-and-coming equestrians.“Horses are my life. They have taken me around the world and have made me the man I am today,” said the sporting pioneer.Introducing children to horse-ridingThe land on which the centre is operated was officially handed over to Mafokate by the City of Johannesburg in 2008, making the establishment – in its current state – four years old.Over 700 children have been introduced to horses and horse riding at the centre, with lessons taking place twice a week: on Fridays and Saturdays.The centre also offers courses in essential equestrian skills like saddlery, grooming and general farrier skills.A total of 19 horses live here, including Jojo; Thabazimbi; Polokwane; Mpho; Sediba; Lady D; London Pride; Fabio; and Mafokate’s favourite, Salmy.“Salmy is 23 years old and is like a part of my family. I don’t ride her competitively anymore,” said Mafokate.He added that when she dies, the centre will have a proper burial with a tombstone for Salmy – because to him she is only a horse by name.Conquering barriersMafokate’s passion for horses was realised in the 1960s when he started participating in the elite sport of show jumping. Accomplished against a backdrop of apartheid South Africa, this was no mean feat.His relationship with horses started in his teen years when he got a job with John Walker, a farm owner in Rivonia, north of Johannesburg.“Many white people used to come and picnic at the farm, especially during the December holidays, and I would look after their horses for them while they enjoyed themselves. That’s when my love for horses blossomed,” said Mafokate.In the late 1950s, Mafokate got a job manning the gates at the Woodmead Golf Course, which allowed him to tend to the patrons’ horses while they played golf.He got his first taste of show jumping as a 16-year-old in 1962, working for a Springbok show jumper as the horses’ groom, and in the same year got his first chance to compete.“The people I was working for decided to give us black people a chance at show jumping,” he recalled.Mafokate could only compete against other black jumpers because regulations at the time barred people of different races from competing against each other.“I came first in that competition – wearing overalls.”A year later Mafokate won a riding competition at the Inanda Country Base in Kyalami.Apartheid was in full effect at this point in his career and he had to shelve his show jumping career until 1975 when, he said, some white people “decided to ignore politics”.Mafokate, along with 16 other grooms, were enrolled at the Marist Brothers College, the only school that allowed black people to compete in the sport.He went on to win the Rothmans Derby in 1976 and the championship at the Constantia Show Grounds in Cape Town in 1977 and 1978, and his future seemed set.“I was the first black member of the Transvaal Horse Society, which was based at Kyalami. I was also the first black rider in 127 years to compete in the Pietermaritzburg Royal Agricultural Horse Show in 1978,” said Mafokate.“My colleagues and I were now being called black riders, not grooms. We had attained recognition.”Meeting Princess AnneMafokate became the first sportsman in South Africa to take part in an international sporting event in 1982, after 20 years of sanctions on South Africa, because of the country’s apartheid policy, forced sportsmen and women into isolation.Out of 31 riders, he came fifth at the London Royal International Horse Show. His highlight of the show was coming within a stone’s throw of the British Royal family.“I saw Queen Elizabeth drive herself in a green Rover; Prince Charles play polo and Princess Diana holding a young Prince William. The highlight, however, was seeing Princess Anne, who I knew loved show jumping,” said Mafokate.Mafokate tried to talk horses with the princess, herself an acclaimed equestrian, but was denied the privilege by a bodyguard. The incident troubled him for years.He had to wait until 2011 to see Princess Anne again when he spoke at an event hosted by UK charity World Horse Welfare (WHW).“I went wet around the mouth when I saw her again,” Mafokate told guests at the event.He and Princess Anne spoke briefly but just as Mafokate was enjoying the conversation, the Princess had to speak to someone else.“She said I’ll see you later, but we never spoke again,” said Mafokate.He said, however, sources told him “when she said she’d see you later she meant it.”Princess Anne visited the Soweto Equestrian Centre in April, during a visit to South Africa to mark her mother’s 60th year on the throne.“I never thought she would come to see my centre. When I asked her why she came, she said ‘I came because you started something which no one ever thought could happen in a black township’.”Graduation dayThe centre, the only one of its kind in Soweto, held a graduation ceremony for horse handling and farrier skills and saddle making on 24 April.In collaboration with Avis Car Hire and WHW, the centre brings in overseas trainers and tools to train students in specialist equestrian techniques.The 10-week course, attended by 20 students, is divided into four modules: two three-week courses and another two that run over two weeks.WHW’s Jim Balfour, who helped with the training on the course, addressed the graduates: “Congratulations to you all. Do not forget about what it took to get this certificate, go out there and conquer.”The students came from different parts of the country, including the Eastern Cape, Limpopo and KwaZulu-Natal.Karin Bothma, a horse inspector with the Carthorse Protection Association in Cape Town, said: “I’ve always loved horses but the farrier and grooming course taught me how to connect better with the horses.” Bothma graduated with several distinctions.Christa Smit, sustainability manager at Avis, said that the company supports the equestrian centre because the course was enterprising and contributed to community upliftment.A fun day for children with disabilitiesFormal training is not all that the centre has to offer. The Moonlight Foundation for children with autism recently held a fun day for children suffering from this developmental disorder of the brain, characterised by impaired social interaction and communication, and by restricted and repetitive behaviour.Siphokazi Mtshotshisa is the founder of the foundation.“On 2 April it was World Autism Day and we decided to treat the children to a fun day which involved horse riding,” she said. “It’s very therapeutic for them.”The foundation seeks to do away with the stigma of autism in the black community as most people do not understand it and say the child is bewitched or crazy, said Mtshotshisa.last_img read more

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Semenya victorious at South African championships

first_img18 April 2016It was three times the charm for South African sprinter Caster Semenya, who gained three titles at the National Track and Field Championships in Stellenbosch over the weekend.Within the space of four hours, Semenya scooped three races: the women’s 400m in 50.76, 800m in 1:58.46 and the 1 500m in 4:10.93.“It is also the fastest by a South African athlete for 15 years and moves her to fifth on the national all-time list. Her time in the 800m was not only a stadium record, but it was also her fastest mark since the London 2012 Olympics,” reported the International Association of Athletics Federations on its website.“I didn’t expect to go this fast,” Semenya said. “I wanted to run under 4:10.00 in the 1 500m, but it’s okay. The 400m and 800m were marvellous. I’m happy with my performances.”Caster Semenya made history yesterday by becoming the 1st South African athlete to win the 400m, 800m & 1500m races all in one day!— Moses Nku (@Moses_Nku) April 17, 2016See more here:Other victoriesWorld 400m champion Wayde van Niekerk was also a winner, crossing the finish line in 44.98 seconds to retain his national crown.“I appreciate every achievement that comes my way, and obviously now it’s up to me to improve myself for the rest of the year,” Van Niekerk said.“The main goal is the Olympics, and I’d like to pick up a bit more momentum before I get to Europe and then Rio.” “Here’s Wayde van Niekerk @WaydeDreamer winning the 400m final at national champs in 44.99 secspic.twitter.com/yLVL6MfcBj (via @EWNsport)’— Athletics Africa (@athleticsafrica) April 16, 2016Sprinter Alyssa Conley won the women’s 200m final in a time of 23:01, while Stephen Mokoka gained titles in the 5 000m and10 000m double.In the long jumps, Ruswahl Samaai jumped 8.34m in the first round. His contender, Luvo Manyonga, overstepped twice and was eliminated so Samaai’s opening was enough to earn a win.Source: South Africa.info reporterlast_img read more

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Batangas-EAC stuns JRU for breakthrough win

first_imgPasaol: UE yet to meet new coach 2 ‘newbie’ drug pushers fall in Lucena sting MOST READ Quarters: 20-8, 41-30, 66-43, 81-71. Read Next “We’ve been wanting to win and we’re very thankful that we’re able to execute our gameplan well. What more can I ask for,” said a jubilant coach Ariel Sison, whose team finally notched their first win in five games.Jerome Garcia, Cedric De Joya, and Earvin Mendoza all had 11 markers apiece as they all teamed up to help Batangas-EAC build a 20-8 lead in the first quarter which swelled to 26, 66-39, late in the third frame.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSLillard, Anthony lead Blazers over ThunderSPORTSMalditas save PH from shutoutThe Heavy Bombers staged one last uprising in the payoff period and got to within six, 71-77, after Jed Mendoza split his foul shots with 24.5 seconds left.Ablaza and De Joya, though, doused that rally, making the insurance buckets in the last 12.9 ticks. Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles02:42NCAA Season 93 Preview: JRU Heavy Bombers01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City Typhoon Kammuri accelerates, gains strength en route to PH Globe Business launches leading cloud-enabled and hardware-agnostic conferencing platform in PH Don’t miss out on the latest news and information. Slow and steady hope for near-extinct Bangladesh tortoises NEXT BLOCK ASIA 2.0 introduces GURUS AWARDS to recognize and reward industry influencers John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding LATEST STORIES AFP official booed out of forum PBA IMAGESBatangas-EAC held on and escaped a late rally by Jose Rizal University, 81-71, for a breakthrough win in the 2018 PBA D-League Aspirants’ Cup Monday at Pasig Sports Center.It was a balanced attack for the Generals, commandeered by Cedric Ablaza, who had 16 points, 11 rebounds, three assists, and two blocks.ADVERTISEMENT View comments Brace for potentially devastating typhoon approaching PH – NDRRMC “We hope this won’t be the last,” said Sison. “I hope we sustain this.”Jeckster Apinan and Kris Porter both got 16 points in the defeat, which is now JRU’s fourth consecutive loss.The scores:BATANGAS-EAC 81 — Ablaza 16, De Joya 11, Garcia 11, E. Mendoza 11, Diego 8, Laude 8, Bautista 6, J. Mendoza 6, Dela Peña 4, Estacio 0, Neri 0.JRU 71 — Apinan 16, Porter 16, Pontejos 11, De Guzman 10, Mendoza 10, Dela Virgen 5, Esguerra 2, Sawat 1, Ramos 0, Tobiano 0.ADVERTISEMENTlast_img read more

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‘FROM THE FISHBOWL’- DAY TWO

first_imgFROM THE FISHBOWL DAY 2 Under a scorching sun, the valiant men and women of our sport have again demonstrated the sublime skills and talents they possess. We in The FISHBOWL are very impressed at the action we have seen here on Day 2. The introduction of the ASICS `Hot match of the round’ (another FISHBOWL innovation) has guaranteed spectators have a lead into the best matches of every round. This has proven a winner with some absolutely sensational performances around the grounds. In the Men’s Open division, Mets have suffered their first defeat, going down to our earlier dark horses, The Rustlers. Defeating the Mets is no easy task but the Boys from the QLD bush rustled up an 8-6 victory. Many judges predict that this may be a prelude to the final, but the Scorps, Sharks and Cobra’s boys will be there snapping at the heals when the whips are cracking. Women’s Open has once again been dominated by the big 2 in Mets and Cobras however the Rustlers, Cyclones and Barbarians have made an impact here as well. The little jillaroo’s from country QLD have stamped the brand upon the rumps of girls from the Northern Eagles and Southern Suns whilst the newly strengthened Barbarians have finally translated the promise shown over the past few years. The Baa Baas have soundly defeated the Rebels and Crusaders, scoring 10 touchdowns in each game. Those Cobras and Mets girls must surely be looking over their shoulders at these teams however a word of warning from the FISHBOWL….. BEWARE the circling SHARKIES!!!!! Day 1’s earlier tip for the mixed, The Sharks, suffered their first defeat today however I am prepared to leave my hard earned on them. In a match that had more bald heads than a Buddhist’s convention, the Tony Eltachi led Mets defeated the Sharks 7-6. When Adam Falzon or Brad Davids moved in to surround Eltachi, the FISHBOWL had flashbacks to a bad episode of 70’s TV show KungFu. Showing the skills of his youth, Tony drove his team to a hard fought but well deserved victory. This result makes the division interesting with the Scorpions, Suns and Cobra’s also showing glimpses of something special. A real division to watch! In scenes reminiscent of `Hotshoe Shuffle’ the dancing men of the tournament, our Men’s 20’s, have entertained the crowds with some spectacular touch. The depth of talent here has made this the closest fought division. These kids have to be seen to be believed and even then you will shake your head in wonderment. The FISHBOWL was sure he witnessed a double pike, half tuck sidestep from a Southern Suns player this morning, however the judges gave a lowly 6.5 score for the splash factor. Alyd Owen, surrounded by defenders, practically turned himself inside out but still managed to get the ball away for a team mate to score. Plays like this are evident in every match and this division is still to close to call. `Australia’s next top models’ organisers should be here in Coffs as the GLAM FASHION factor at this years NTL is clearly evident. Low riding hipsters, crop tops and full accessories abound but beneath this fashionista exterior lies a talented and athletic group of fine touch players. The Sharks and Cyclones appear to be dominating however the Suns and Mets may have something to say about that. My early and swaying prediction will be a Cyclones victory, but tomorrows results could see that downgraded to a Cat3 tropical depression. Play of the Day – Alyd Owens performance in the match against the Cobra’s – Simply outstanding! Rumour of the day – That a certain outgoing ATA CEO will be the recipient of something special in the next few days. Keep you posted! See Ya when we’re looking at Ya! **Adam Collins and Kane Weeks have done a great job running the tournament from the control box and have entertained the crowd all day with banter just like this.last_img

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Eggins wins Rod Wise Medal

first_imgPenrith Touch Association and the Sydney Mets’ Director of Referees, Greg Eggins has been recognised for his contribution to the sport of Touch Football at the New South Wales Touch Association’s Blues Dinner, being named the Rod Wise Medal winner for the Volunteer of the Year. Eggins has been involved in the sport of Touch Football, particularly in the arm of refereeing, for close to 30 years, both in Australia and abroad. Eggins told the audience at the Blues Dinner that he was ‘very honoured’ to accept the award.“There are a lot of good people in this room who spend a lifetime for our sport, we’re an amateur sport and there is a lot of dedicated people here. I’m very honoured to be here tonight to accept this award, there are a lot of other people who could also be here too as well,” Eggins said.  In his role of Director of Referees at Penrith, Eggins has helped develop a large number of junior referees, including three of the five current Talented Referees Youth Squad (TRYS) members. “I’ve had a lot of fun the past couple of years especially with the development of junior referees and had the honour of three selected in April this year out of five vacancies and that was a highlight.”“I’ve got 14 referees at Penrith that are teenagers from 12 refereeing Men’s division one up to age 17 or 18 and I dedicate this award to them including Nick Thornton, aged 12, and Emma Thornton who could probably do my job at Penrith as the Director of Referees as she’s learnt a lot over the past 18 months.”Eggins’ Touch Football career started in the mid 1980’s in Brisbane, before going overseas and then coming back to continue his work in the referee discipline. “I started in Brisbane in 1985, went to England, helped form the UK Touch Association, came back and spent time in Canberra in 1989 when I was the assistant Director of Referees and then Parramatta. Then Hawkesbury in 1991, up to RAAF Base Williamtown in 1992/93, helping out Tilligerry and Wallsend. I had a lot of referees at the RAAF Base, about 50 referees and pushed them out to Maitland, Newcastle and Tilligerry. As the Mets Director I’ve got to try and help the other affiliates, I’d like to do more, it’s not easy and you rely on the other Referee Directors to help develop referees.”“There’s a lot of good friends in the room who have helped me develop referees, coach referees and be a team leader at tournaments. To all of the players, they are the challenge, they always push the boundaries, they love gamesmanship and our job is there to referee in an unbiased manner as we can and that’s what I pride myself on and try to do. So as I get older, I try to put more back into the junior referees now because that’s our future and we need those referees.”Related LinksRod Wise Medallast_img read more

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Feds push back following opposition to federal carbon tax

first_imgOTTAWA (NEWS 1130) – With Ontario and Alberta ramping up their efforts to oppose the federal carbon tax, the Trudeau government is pushing back.Federal Environment Minister Catherine McKenna is taking aim at her opponents and lashing out at Ontario Premier Doug Ford for launching new ads against the carbon tax.“Literally having a misleading advertising campaign using taxpayer dollars, not telling people the cost of climate change that we are all paying right now or the money that’s going back,” she adds.RELATED: Alberta premier says provincial carbon tax will die May 30McKenna says Conservatives want to take the country back in time instead of supporting a clean economy.“You have conservative politicians who want to take us back in time, they don’t take climate change seriously, they are using taxpayer money to run misinformation campaigns,” McKenna adds. “You got Andrew Scheer developing a climate plan with oil lobbyists behind closed doors.”She adds it’s disappointing Alberta Premier Jason Kenney plans to scrap his provincial carbon tax by may 30, forcing the feds to impose one.RELATED: NDP unveils parts of climate plan in motion as the Green Party edges closerMcKenna won’t speculate on how quickly the Trudeau government would act but says Albertans will end up getting more money in their pockets thanks to the rebate.These latest jabs are thrown as a new Abacus poll shows 78 per cent of Canadians believe a climate change plan must or should include a price in pollution.last_img read more

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Erin dumps heavy rain on western Maritimes some localized flooding reported

first_imgHALIFAX — Localized flooding was reported overnight in the western Maritimes as the remnants of post-tropical storm Erin dumped more than 160 millimetres of rain in some areas.The centre of the low-pressure system passed over Nova Scotia’s southwestern shore near Shelburne late Thursday, moving northeast toward St. Margarets Bay and the Halifax region before arriving at the Gulf of St. Lawrence this morning.The heaviest rainfall was reported in southwestern Nova Scotia, the eastern side of the Nova Scotia’s Annapolis Valley, parts of northern Nova Scotia, southern New Brunswick along the Bay of Fundy and western P.E.I.More than 160 mm of rain fell on Parrsboro, N.S., which is in northern Nova Scotia, next to the Bay of Fundy’s Minas Basin.Meanwhile more than 150 mm of rain was reported in Port Maitland in southwestern Nova Scotia and Scots Bay, near the entrance to the Minas Basin.Bob Robichaud, warning preparedness meteorologist with Environment Canada, said some communities in southwestern Nova Scotia received up to 30 millimetres of rain per hour, which he described as an extreme rainfall rate.“That resulted in some flooding,” he said, adding he was unaware of any serious damage or major power outages.“I’m surprised that I haven’t heard anything in terms of impacts. It may be that they’re still assessing stuff.”The Halifax Stanfield International Airport reported 53 mm or rain and a peak gust at 69 kilometres per hour.The Canadian Presslast_img read more

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