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We\u2019re back with the first Q&A episode of 2017.\nWe start by discussing the \u201cZero Budget Portfolio,\u201d about which Meb wrote a recent blog post. The quick idea is that when considering your portfolio, you should start from scratch, or \u201czero.\u201d Imagine your perfect portfolio \u2013 which markets you\u2019d like to own, which assets, tilts, etc.\nNow compare that perfect, hypothetical portfolio to your actual portfolio. To the extent that your real, owned assets have a place in your perfect portfolio, you\u2019ll continue owning them. Any assets that don\u2019t fit, you sell immediately.\nBut it\u2019s not long before we dive into listener questions. A few you\u2019ll hear tackled are:\n-\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0How do I decide whether I should use a robo-service or manage my portfolio myself? How likely am I to underperform a robo?\n\xa0\n-\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0We know that value can lag market returns, but should lead over time. What is the time horizon by which you determine whether a strategy like value is successful?\n\xa0\n-\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0Are there are country ETFs that you would not trade in a global, low-CAPE portfolio because of country risk?\n\xa0\n-\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0How has your timing model performed since you introduced it a decade ago?\n\xa0\n-\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0Will you discuss momentum investing versus chasing performance? It seems that a long-only momentum portfolio basically chases what has already gone up.\n\xa0\n-\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0Given real world tax issues, is active investing still a better strategy than buy-and-hold?\n\xa0\n-\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0Given that 44% of the S&P 500 revenue and profit comes from overseas, is there really a home country bias if you are invested in the S&P? And with this in mind, what is the right allocation to Emerging Markets?\nAs usual, there are plenty of additional rabbit holes, including options, currencies, and even the Baltic Dry Index. What\u2019s Meb\u2019s take on it? Find out in Episode 36.\nLearn more about your ad choices. Visit megaphone.fm/adchoices