Christian Klein C. Ramos

Christian Klein C. Ramos Spreading truth—that is all.

07/03/2026

Ang totoong diversification sa portfolio mo ay dapat mayroong international stocks, hindi lamang domestic stocks.

Even if you have a rare fund that outperforms, the wealth distribution would be erratic and uneven.

⚠️ Scope and Limitations
The study analyzed a 10-year period from Dec. 31, 2014 - Dec. 31, 2024 with five equity categories: Large-Cap Core, Mid-Cap Core, Small-Cap Core, International, and Emerging Markets & four fixed income categories: General Government, General Investment Grade, High Yield, and Emerging Market Debt. Because of survivorship bias, the authors had to substitute future missing performance with the respective benchmark. It is also impossible to invest directly in indices so real-world fees would lower the index performance.

📕 Edwards, T. & Nelesen, J. (Dec. 9, 2025). Heroes in Haystacks: Index Comparisons for Active Portfolio Performance. S&P Global.

06/03/2026

Hindi garantisado ang future performance mo kung pipili ka lang ng top-performing stocks sa portfolio mo. Past performance does not guarantee future results.

⚠️ Scope and Limitations
The study analyzed a 10-year period from Dec. 31, 2014 - Dec. 31, 2024 with five equity categories: Large-Cap Core, Mid-Cap Core, Small-Cap Core, International, and Emerging Markets & four fixed income categories: General Government, General Investment Grade, High Yield, and Emerging Market Debt. Because of survivorship bias, the authors had to substitute future missing performance with the respective benchmark. It is also impossible to invest directly in indices so real-world fees would lower the index performance.

📕 Edwards, T. & Nelesen, J. (Dec. 9, 2025). Heroes in Haystacks: Index Comparisons for Active Portfolio Performance. S&P Global.

05/03/2026

Maraming nawawalang active funds in more than a decade. At least 99% of active portfolios contain one fund that eventually merged or liquidated.

⚠️ Scope and Limitations
The study analyzed a 10-year period from Dec. 31, 2014 - Dec. 31, 2024 with five equity categories: Large-Cap Core, Mid-Cap Core, Small-Cap Core, International, and Emerging Markets & four fixed income categories: General Government, General Investment Grade, High Yield, and Emerging Market Debt. Because of survivorship bias, the authors had to substitute future missing performance with the respective benchmark. It is also impossible to invest directly in indices so real-world fees would lower the index performance.

📕 Edwards, T. & Nelesen, J. (Dec. 9, 2025). Heroes in Haystacks: Index Comparisons for Active Portfolio Performance. S&P Global.

04/03/2026

Kadalasan, actively managed funds underperform index funds for longer time horizons.

In fact, 96.9% of active funds underperformed the equivalent index funds in 10 years using a 60/40 split. We find out more here!

⚠️ Scope and Limitations
The study analyzed a 10-year period from Dec. 31, 2014 - Dec. 31, 2024 with five equity categories: Large-Cap Core, Mid-Cap Core, Small-Cap Core, International, and Emerging Markets & four fixed income categories: General Government, General Investment Grade, High Yield, and Emerging Market Debt. Because of survivorship bias, the authors had to substitute future missing performance with the respective benchmark. It is also impossible to invest directly in indices so real-world fees would lower the index performance.

📕 Edwards, T. & Nelesen, J. (Dec. 9, 2025). Heroes in Haystacks: Index Comparisons for Active Portfolio Performance. S&P Global.

20/02/2026

🌍 Maganda ang globalization dahil naging konektado na tayo. Pero, tuloy-tuloy ba ito kung may laban sa AI?

We might be entering a new era of technology wars which increases uncertainty in the market. Na sa mindset niyo ba na tuloy pa rin ang pagtaas ng market kahit may laban sa AI? Competition o threat ba ito?

📃 Taylor, B. (Feb. 3, 2026). Five Financial Eras: How Financial Markets Transformed the World. CFA Institute.

19/02/2026

✌️100 years of peace. Ito ay ang Free Trade era noong 1815-1914.

This was actually the best time to invest, but of course, war brings it to ruin! Obviously, alam naman natin na war makes the market go down, pero ano impresyon niyo tungkol sa Free Trade era?

📃 Taylor, B. (Feb. 3, 2026). Five Financial Eras: How Financial Markets Transformed the World. CFA Institute.

18/02/2026

❗Ang history ng bonds nagmumula simula noong 1171 sa Venice. Hindi ito bago lang o na-imbento a century ago.

This was a chain of events that eventually lead to the emergence of modern bonds and stocks today. Bago ba itong concept sa inyo?

📃 Taylor, B. (Feb. 3, 2026). Five Financial Eras: How Financial Markets Transformed the World. CFA Institute.

17/02/2026

Technology Wars

IBKR (Interactive Brokers), an international broker, has recently been ISP-level blocked in the Philippines. As of today...
22/12/2025

IBKR (Interactive Brokers), an international broker, has recently been ISP-level blocked in the Philippines. As of today, IBKR remains the only broker that supports Irish domiciled funds, allowing a Filipino investor to be cost-efficient in their portfolio.

US-Domiciled Funds has a 40% estate tax for portfolios >$60,000 and face a 30% dividend withholding tax. Irish-domiciled funds have 0% estate tax and only a 15% dividend withholding tax.

This leaves a future where we might depend on only feeder funds in the country. Here, I simulate using a Monte Carlo simulation and GARCH-t distribution the cost of IBKR (VWRA) vs. a Local Feeder Fund like SB Global.

Assuming an annual contribution of $1,025, the median difference is $20.1k. By choosing the local feeder fund, you are paying 20 years worth of annual contributions to pay management fees and taxes.

For more details, you can visit my Reddit post at r/phinvest: tinyurl.com/2z5xjd7z

Here, I present Jensen's Alpha to measure outperformance of the any asset. Alpha is generally not advertised in the docu...
17/12/2025

Here, I present Jensen's Alpha to measure outperformance of the any asset. Alpha is generally not advertised in the document sheets of investment funds because most active funds underperform.

A high return does not mean it is an efficient investment given the amount of risk.

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