The Defined Duration suite is a three-fund structure that allows investors to build a seamlessly time aligned asset allocation. The Defined Duration 5 ETF (DDV) is best applied to the 3–7 year time horizon, addressing moderately short-term planning needs such [...]
I am super excited to announce today is the official launch of our new time-weighted asset-liability matching ETFs. These three ETFs will target specific time horizons (5, 10 and 20 years) which aim to allow investors and financial planners to easily [...]
Time-weighted asset–liability matching ETFs to debut November 13th Discipline Funds today announced the upcoming launch of the Defined Duration ETF suite, time-weighted asset–liability matching ETFs, scheduled to begin trading on November 13, 2025.1 The three funds — the Defined Duration [...]
1) Near-term Highs in Global Equity Defined Durations. My Defined Duration metric is a measure of potential sequence of returns. That is, it takes expected returns and applies a specific time horizon to the instrument using a potential drawdown estimate. [...]
Here are some things I think I am thinking about: 1) The NBA Gambling Scandal and Liability Matching The NBA is embroiled in a huge gambling scandal. It's not at all surprising. What's actually surprising is that anyone got caught. [...]
Did you think I stopped thinking about things over this 2 week hiatus? Well, you'd be wrong. I am still thinking about lots of stuff, but I will apologize in the meantime for the radio silence. Between the book, our [...]
Here are some things I think I am thinking about this weekend. 1) Gold as insurance. I always like it when people say things that I have said in the past. So I was pleasantly surprised to read Greg Ip [...]
I want to write a short piece given the events of this week, which highlighted how deep the divide is in the USA. I am not going to talk about politics. That's not what I do here. And it's very [...]
Here’s an interview I did with Jack Forehand and Justin Carbonneau on the Excess Returns podcast. We cover a huge amount of ground in this one including: • Updated economic outlook• Inflation outlook, tariffs, and the Fed’s “soft landing” challenge• [...]
This weekend I am thinking a lot about independence. Specifically, financial independence, Fed independence and labor independence. Let's get into it. 1) Financial Independence Through Asset-Liability Matching. If you're a regular here you know that I am a big advocate [...]