Well, good luck to you with HML. But, as others have said, you...

Well, good luck to you with HML.

But, as others have said, you can't really compare HML with ARG.

ARG is managing a conservative portfolio of large cap stocks, with capital preservation as a fundamental objective. it's a retiree and widows portfolio, where capital preservation, and a dividend in the mailbox every 6 months is paramount.

HML is taking big, high conviction bets, that appear, so far, to have paid off.

If your 25 years old, why not go for a bigish dollop of HML, because, you've got time to make up your losses if these high conviction bets go the wrong way. But if your in or approaching retirement, would you really want to stay too far from the conventional?

For me, the idea is to have a basket of ETFs and LICs that will form my equity investments in retirement. ARG is an excellent vehicle for gaining an exposure to big Australian companies, but I think you still need to diversify internationally, and be exposed to industries and companies you just don't get exposure to on the ASX. After all, the ASX is only around 2% of global equity markets.