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Re: POLL: Do you have a dedicated REIT allocation?

I should note that you're probably in the 95% percentile of investors education and portfolio-wise if you've even got to the 5% REIT allocation stage. But I'm expecting perfection from Bogleheads. :) Push yourself to nail down those last few concepts and invest based on them. And note the recent wo...
by Angst
Wed Jul 16, 2014 2:49 pm
 
Forum: Investing - Theory, News & General
Topic: POLL: Do you have a dedicated REIT allocation?
Replies: 123
Views: 6851

Re: POLL: Do you have a dedicated REIT allocation?

Show me a guy with a 5% or 10% REIT allocation, and I'll show you someone who's read a couple of dated investing books, [OT comment removed by admin LadyGeek] . Not only will such a small allocation make no expected difference to your returns, the experts who did suggest such a bet were doing so wh...
by Angst
Wed Jul 16, 2014 12:37 pm
 
Forum: Investing - Theory, News & General
Topic: POLL: Do you have a dedicated REIT allocation?
Replies: 123
Views: 6851

Re: POLL: Do you have a dedicated REIT allocation?

I keep a 6% allocation to "REITs", 3% domestic and 3% international - not a big commitment, I admit. It has generally been more volatile than the broad market, as well as small cap, as Nisi demonstrated graphically wrt 2008. I enjoy rebalancing.
by Angst
Wed Jul 16, 2014 12:24 pm
 
Forum: Investing - Theory, News & General
Topic: POLL: Do you have a dedicated REIT allocation?
Replies: 123
Views: 6851

Re: Persistence of SV performance

angst, don't think so at all. Reason is simple, just because they switched to another index didn't change the exposures much it seems, Just look at current market cap and btm and other metrics vs say DFA and even more so Bridgeway, and that is what determines the expected returns. Vanguard fund is ...
by Angst
Tue Jul 15, 2014 8:11 pm
 
Forum: Investing - Theory, News & General
Topic: Persistence of SV performance
Replies: 71
Views: 3781

Re: Persistence of SV performance

but DFA does match the performance of the benchmarks used to define value, Vanguard does not---Vanguard is benchmarking against some retail index, not the way an academic would define the asset class. Larry, I'm not trying to pile on here, but I am a little confused. Vanguard (now) uses a CRSP inde...
by Angst
Tue Jul 15, 2014 5:54 pm
 
Forum: Investing - Theory, News & General
Topic: Persistence of SV performance
Replies: 71
Views: 3781

Re: boglehead botanists...is this poison ivy?

Nope. If it's growing wild, it might be stinging nettle - it looks similar. If you lightly brush your arm by it, does your skin instantly sting and itch like crazy? If so, it doesn't last much longer than 10 or 15 minutes, but it's not fun. Some people actually cook stinging nettle. I've never tried...
by Angst
Tue Jul 15, 2014 5:16 pm
 
Forum: Personal Consumer Issues
Topic: boglehead botanists...is this poison ivy?
Replies: 32
Views: 2439

Re: Persistence of SV performance

but DFA does match the performance of the benchmarks used to define value, Vanguard does not---Vanguard is benchmarking against some retail index, not the way an academic would define the asset class. Larry, I'm not trying to pile on here, but I am a little confused. Vanguard (now) uses a CRSP inde...
by Angst
Tue Jul 15, 2014 1:13 pm
 
Forum: Investing - Theory, News & General
Topic: Persistence of SV performance
Replies: 71
Views: 3781

Re: [Poll] Are you more risk averse than average?

Yes! Wait, no - I'm both. In a lot of ways, I consider myself much more risk averse than the average investor: I'm rather fearful; I live way below my means and plow a high percentage of my income into my 401k, IRA and taxable savings as well. And when I project future portfolio value and SWR, etc, ...
by Angst
Mon Jul 14, 2014 3:25 pm
 
Forum: Investing - Theory, News & General
Topic: [Poll] Are you more risk averse than average?
Replies: 36
Views: 2591

Re: Want international exposure? You already have it.

How much Japan makes up your portfolio, Angst? Probably not much percentage wise. The Japan arguers probably hold about half (market weight) to 70% of their equities in the U.S. Is holding some international going to save one if half to three quarters of their equities are in one country? If one re...
by Angst
Wed Jul 09, 2014 4:30 pm
 
Forum: Investing - Theory, News & General
Topic: Want international exposure? You already have it.
Replies: 65
Views: 6280

Re: Want international exposure? You already have it.

Of course, don't forget that global diversification guarantees that you'll own the next Japan and it's more likely to be some country other than the U.S. If the next Japan does turn out to be the U.S. what are the odds that global diversification across stock markets will save your bacon? About as ...
by Angst
Wed Jul 09, 2014 10:38 am
 
Forum: Investing - Theory, News & General
Topic: Want international exposure? You already have it.
Replies: 65
Views: 6280

Re: Want international exposure? You already have it.

It's not home bias as much as it is eschewing unnecessary risk and expense in investing. When you look at the data for the last four decades the numbers just don't add up for investing in an EAFE fund for U.S. investors. The diversification story seems to make sense, but it concerns me that the num...
by Angst
Wed Jul 09, 2014 10:19 am
 
Forum: Investing - Theory, News & General
Topic: Want international exposure? You already have it.
Replies: 65
Views: 6280

Re: International exposure: does it really help?

I've read many explanations in this thread why one perhaps doesn't really need any international equity exposure at all, but I have yet to read one that rebuts the notion that having some international exposure makes sense because there's no reason to assume that what has happened to Japan over the ...
by Angst
Wed Jul 09, 2014 9:17 am
 
Forum: Investing - Theory, News & General
Topic: International exposure: does it really help?
Replies: 75
Views: 7259

Re: Equal Weighting vs Market Cap Weighting

First you can't really make an equal weight TSM fund; there just are not enough shares of the tiny companies. And if you could the trading costs would kill you. You can equal weight S&P 500 and there are funds that do. Rodc, My apologies if this has already been addressed somewhere within the t...
by Angst
Wed Jun 25, 2014 5:27 pm
 
Forum: Investing - Theory, News & General
Topic: Equal Weighting vs Market Cap Weighting
Replies: 38
Views: 1540

Re: Barron's top 50 annuities

No problem for me w/ Google. - Search terms: Barrons "The Top 50 Annuties" - Scrolled down results, past the: news for Barrons "The Top 50 Annuities" and picked the next link that looked like: The Top 50 Annuities - Barrons.com online.barrons.com/.../SB500014240531119039276045796...
by Angst
Sun Jun 22, 2014 8:30 am
 
Forum: Investing - Theory, News & General
Topic: Barron's top 50 annuities
Replies: 13
Views: 1917

Re: Is it impossible to buy individual foreign treasuries?

Ask Vanguard. It would be interesting to hear what they say.
by Angst
Fri Jun 20, 2014 9:53 pm
 
Forum: Investing - Theory, News & General
Topic: Is it impossible to buy individual foreign treasuries?
Replies: 9
Views: 475

Re: Fixed Income Barbell: ST Nominals / LT TIPS

Thanks LG for your response. Unfortunately, I don't believe any of the wiki articles referenced really directly address my notions about the following: It strikes me that FI allocations and the idea of matching a portion of one's retirement liabilities with a TIPS ladder are typically addressed as ...
by Angst
Thu Jun 19, 2014 9:22 pm
 
Forum: Investing - Theory, News & General
Topic: Fixed Income Barbell: ST Nominals / LT TIPS
Replies: 6
Views: 815

Re: Fixed Income Barbell: ST Nominals / LT TIPS

Thanks LG for your response. Unfortunately, I don't believe any of the wiki articles referenced really directly address my notions about the following: It strikes me that FI allocations and the idea of matching a portion of one's retirement liabilities with a TIPS ladder are typically addressed as q...
by Angst
Wed Jun 18, 2014 11:11 pm
 
Forum: Investing - Theory, News & General
Topic: Fixed Income Barbell: ST Nominals / LT TIPS
Replies: 6
Views: 815

Re: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?

secondary market yield now at 1.087%. I think we'll be lucky to get to 1.15% at the auction. grok - where are you finding the 1.087% number? i see vanguard's indicative yield (1.083) but elsewise, i'm not sure where to find secondary market numbers. all i find searching around are stats for nominal...
by Angst
Wed Jun 18, 2014 6:38 pm
 
Forum: Investing - Theory, News & General
Topic: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?
Replies: 59
Views: 4380

Fixed Income Barbell: ST Nominals / LT TIPS

I find it appealing that one can both slowly grow their (Intermediate Term) Fixed Income allocation over an investing lifetime while building a long term TIPS ladder to be held to maturity. Why not combine the need/desire to maintain a slowly growing FI allocation with the LT security of a TIPS ladd...
by Angst
Wed Jun 18, 2014 5:40 pm
 
Forum: Investing - Theory, News & General
Topic: Fixed Income Barbell: ST Nominals / LT TIPS
Replies: 6
Views: 815

Re: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?

secondary market yield now at 1.087%. I think we'll be lucky to get to 1.15% at the auction. grok - where are you finding the 1.087% number? i see vanguard's indicative yield (1.083) but elsewise, i'm not sure where to find secondary market numbers. all i find searching around are stats for nominals.
by Angst
Wed Jun 18, 2014 4:50 pm
 
Forum: Investing - Theory, News & General
Topic: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?
Replies: 59
Views: 4380

Re: Get 6.8% return on HSA savings?

I made the same discovery just a couple months ago and bumped myself back up to $5,000. I felt sort of dumb for my original move down to $4925 at the start of the year. I should have said something!
by Angst
Wed Jun 18, 2014 11:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Get 6.8% return on HSA savings?
Replies: 13
Views: 1476

Re: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?

This thread's oddly quiet given that the auction's tomorrow. Maybe the recent real CMT rates (1.14% yesterday) have something to do with that, and then there is the current indicative yield of 1.108%. Ouch! Grok - I doubt we're going to make it up to 1.25%. Is there a rate below which you'll delay y...
by Angst
Wed Jun 18, 2014 10:57 am
 
Forum: Investing - Theory, News & General
Topic: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?
Replies: 59
Views: 4380

Re: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40

i had no idea what the imperial irrigation district had to do with this thread LOL I got that too. I think i.i.d. actually this: Independent and identically distributed random variables http://en.wikipedia.org/wiki/Independent_and_identically_distributed_random_variables :) yeah, i figured that out...
by Angst
Tue Jun 10, 2014 12:04 pm
 
Forum: Investing - Theory, News & General
Topic: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40]
Replies: 207
Views: 17100

Re: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40

you can count me in among the investing children. i did assume SE was std error, but i had no idea what the imperial irrigation district had to do with this thread. perhaps i still need to finish my "for dummies" books before i move up to bernstein!
by Angst
Tue Jun 10, 2014 11:48 am
 
Forum: Investing - Theory, News & General
Topic: Bernstein: A Decade of Super-Low Returns [1.4% for 60/40]
Replies: 207
Views: 17100

Re: [Poll] How do you rebalance?

Gee, I'm 1 of only 2 using bands of 10% or more? I expected more.
by Angst
Mon Jun 09, 2014 8:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: [Poll] How do you rebalance?
Replies: 30
Views: 1713

Re: Blog: May ETF flows

Hi: Where were investor dollars flowing in the month of Mayl? May ETF flows | Bogleheads® Blog provides a snapshot of investor activity. Thanks Barry, The first three tables are interesting and help paint a picture of where people have been looking to put their money. You should know however that t...
by Angst
Tue Jun 03, 2014 11:39 pm
 
Forum: Investing - Theory, News & General
Topic: Blog: Monthly ETF flows report
Replies: 5
Views: 736

Re: BOGLEHEAD CONTEST -- S&P at record high.

Oh great and powerful Grok...

So, do I buy my 30-year TIPS in June or wait until October? :)
by Angst
Sun Jun 01, 2014 10:00 pm
 
Forum: Investing - Theory, News & General
Topic: BOGLEHEAD CONTEST -- S&P at record high.
Replies: 16
Views: 2825

Re: Vanguard or DFA? "Vanguard, in a landslide..."

For a vivid example of the dangers of performance chasing, consider the total return of these two funds, last 10 years, source, M*: DFA Small Value, DFSVX: 9.56%: Vanguard Total Stock Market, VTSAX: 8.37% Clearly the folks who used DFA funds and tilted came out ahead...or did they? Investor dollar ...
by Angst
Sun Jun 01, 2014 9:50 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard or DFA? "Vanguard, in a landslide..."
Replies: 54
Views: 4519

Re: Vanguard or DFA? "Vanguard, in a landslide..." [or not]

This thread's title might need to be appended with something like: [or not] Alex is mentioned in the article. Having quoted himself from his original May 2000 article, the author goes on in the present (in response to a question from his reader "Alex Frakt") with the following Although I c...
by Angst
Sat May 31, 2014 11:46 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard or DFA? "Vanguard, in a landslide..."
Replies: 54
Views: 4519

Re: Who are the BogleHeads.org heavyweights?

Purely off the top of my head... people whose posts I often appreciate for their intelligence and helpfulness include: grabiner #Cruncher bobcat2 Trev H Kevin M Robert T... There are many more. I cringe at the term "heavyweights". There are certainly a few "lightweights" out ther...
by Angst
Fri May 30, 2014 8:46 am
 
Forum: Forum Issues and Administration
Topic: Who are the Bogleheads.org heavyweights?
Replies: 127
Views: 8811

Re: 30 year TIPS under 1%

Thank you #Cruncher for your analysis. Your data and your presentation and interpretation of it have helped me validate my understanding about what the changes in these yield curves from Jan to the present suggest. I'm a little confused however about your reading of my original statement. "Comm...
by Angst
Thu May 29, 2014 3:58 pm
 
Forum: Investing - Theory, News & General
Topic: 30 year TIPS under 1%
Replies: 25
Views: 2116

Re: 30 year TIPS under 1%

In the graph below you can see that nominal rates have not dropped commensurately with reals. What does this mean? In the short to intermediate term, inflation expectations have risen? Or do I have that backwards? Well, I guess I'll take a stab at my own question... The graph below shows the spread...
by Angst
Thu May 29, 2014 12:44 pm
 
Forum: Investing - Theory, News & General
Topic: 30 year TIPS under 1%
Replies: 25
Views: 2116

Re: 30 year TIPS under 1%

0.96% at the moment, the lowest level since last May. Once again, I'm impressed too. Since the beginning of the year 2014, the 30 year Real-CMT daily rate has dropped more than a third. Wish I'd bought my full allotment of TIPS last February. :? http://www.treasury.gov/resource-center/data-chart-ce...
by Angst
Thu May 29, 2014 9:32 am
 
Forum: Investing - Theory, News & General
Topic: 30 year TIPS under 1%
Replies: 25
Views: 2116

Re: Who is doing In Plan Roth conversions?

I would be doing it now if allowed, but my 401k won't let me until I'm 59 (or it might be 59 1/2), so for now I'm just marking time.
by Angst
Wed May 28, 2014 9:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Who is doing In Plan Roth conversions?
Replies: 35
Views: 2540

Re: 30 year TIPS under 1%

Bloomberg is showing 30 year TIPS at 0.98% at the moment, the lowest level since last June. Whether this finally means rates have nowhere to go but up or whether this shows the lack of prediction ability of those who have been predicting rates have nowhere to go but up or whether this is more evide...
by Angst
Wed May 28, 2014 11:50 am
 
Forum: Investing - Theory, News & General
Topic: 30 year TIPS under 1%
Replies: 25
Views: 2116

Re: Do I need Vanguard International Bond Fund?

Maybe it's worth noting that Vanguard's Admiral Total Bond Market Fund (VBTLX) shows that 6.7% of its holdings are foreign issues (as of 4/30/14). These days, one might have to focus on pure treasury funds if they're really dead set on avoiding international bonds.
by Angst
Mon May 26, 2014 6:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Do I need Vanguard International Bond Fund?
Replies: 17
Views: 2105

Re: [How do TIPS mutual funds work?]

I don't recall if TIPS funds increment the NAV daily for accrued interest rate payouts from each bond held. Some bond funds do and some do not. Vanguard TIPS funds like VIPSX do not accrue for dividends as do most Vanguard bond bunds. Instead, as with a stock fund, the value of upcoming dividends i...
by Angst
Sat May 10, 2014 5:18 pm
 
Forum: Investing - Theory, News & General
Topic: [How do TIPS mutual funds work?]
Replies: 12
Views: 1208

Re: Federal reserve balance sheet may take 5-8 years to shri

Thank you Larry for the helpful and interesting post. I'm inclined to give the Fed and Janet Yellen the benefit of the doubt. I'll be interested in seeing the 12/14 data. What level of % increase at that point would you find concerning? I.e, either too low or too high. I suppose it's the low end at ...
by Angst
Sat May 10, 2014 10:46 am
 
Forum: Investing - Theory, News & General
Topic: Federal reserve balance sheet may take 5-8 years to shrink
Replies: 41
Views: 4039

Re: Inland American RIET repurchase offer, Should I sell?

Hi all, I have been holding on to, or stuck, in Inland American RIET.... juggernaut, i agree that you should sell and chalk it up as a learning experience. in keeping with that thought, you also should note that REIT (pronounced "reet") stands for Real Estate Investment Trust. you've been...
by Angst
Thu May 08, 2014 11:35 am
 
Forum: Investing - Help with Personal Investments
Topic: Inland American RIET repurchase offer, Should I sell?
Replies: 14
Views: 783

Re: May 2014 ibond Rate

[OT comment removed by admin LadyGeek] [Response to OT comment removed by admin LadyGeek] To stay sort of on topic with I bonds. Does the fixed rate given generally correlate to what the Fed expects to keep interest rates at? For example, if the fixed rate is low does that normally mean interest ra...
by Angst
Thu May 01, 2014 5:06 pm
 
Forum: Investing - Theory, News & General
Topic: May 2014 ibond Rate
Replies: 32
Views: 1571

Re: May 2014 ibond Rate

True, if your savings acct earns interest. I scheduled my I-Bond purchase for April 30th. TD pulled the funds out of my bank yesterday, and my new bond has now just earned its first month's interest. It won't show up as credited at TD however for 3 months b/c there's always a last-3-month interest p...
by Angst
Thu May 01, 2014 3:14 pm
 
Forum: Investing - Theory, News & General
Topic: May 2014 ibond Rate
Replies: 32
Views: 1571

Re: Anyone know the new I-Bond Rate ?

This rate is a game changer. I mean seriously the loss of 0.10% is devastating. :) I think it's a near meaningless difference for those that waited. Still, a 0.10% drop in the I-Bond fixed rate is a lot more meaningful to investors than the 0.40% increase in the EE-Bond fixed rate. There continues ...
by Angst
Thu May 01, 2014 10:19 am
 
Forum: Investing - Theory, News & General
Topic: May 2014 ibond Rate
Replies: 32
Views: 1571

Re: Anyone know the new I-Bond Rate ?

Relax. 10am eastern time. Have another cup of coffee.
http://www.treasurydirect.gov/news/pres ... atespr.htm
by Angst
Thu May 01, 2014 8:37 am
 
Forum: Investing - Theory, News & General
Topic: May 2014 ibond Rate
Replies: 32
Views: 1571

Re: Elfcu HSA $24 Wire Transfer Fee

I've been following the Elfcu story for several months now. It's looked like a reasonable possibility, but for now I'm feeling like EmergDoc. Not in a hurry to do anything at all. Will bide my time w/ hsabank while the dust settles.
by Angst
Thu Apr 24, 2014 7:49 am
 
Forum: Investing - Help with Personal Investments
Topic: Elfcu HSA $24 Wire Transfer Fee
Replies: 11
Views: 971

Re: Round The World!

flyingaway wrote:DW=Dear Wife???

I always hear it in my mind as "D'wife"... like some guy named Vinnie saying "the wife".
by Angst
Tue Apr 22, 2014 10:47 am
 
Forum: Personal Consumer Issues
Topic: Round The World!
Replies: 43
Views: 9028

Re: Blog: David Swensen portfolio (from Unconventional Succe

Why does return data only to back to 2001? The Coward's went back to 1999. From Barry's blog post : Fund selections The tables below show returns for the Swensen portfolios, using Vanguard investor shares for the asset class selections. The return series begins in 2001, when Vanguard initiated an i...
by Angst
Tue Apr 22, 2014 10:38 am
 
Forum: Investing - Theory, News & General
Topic: Blog: David Swensen portfolio (from Unconventional Success)
Replies: 2
Views: 743

Re: The EMH, fact or fiction

Is there anyway to read these without registering at Seeking Alpha? Not to my knowledge. I use a dummy email address. Create one at yahoo, etc or through your isp domain. I never read its email, except to delete it all occasionally, and I set up Firefox to automatically enter the dummy password I s...
by Angst
Tue Apr 22, 2014 10:02 am
 
Forum: Investing - Theory, News & General
Topic: The EMH, fact or fiction
Replies: 5
Views: 512

Re: 529's not recommended

You've presumably already confirmed what the tax facts are in the state of Mississippi, but fwiw, in Missouri, for example, residents get to take the tax deduction regardless of what state's 529 plan they are actually enrolled in.
by Angst
Mon Apr 21, 2014 11:05 am
 
Forum: Personal Finance (Not Investing)
Topic: 529's not recommended
Replies: 24
Views: 3258

Re: *poor* Bogleheads

There's no doubt that a little "wealth arrogance" can sneak occasionally into a thread here, but I say just suck it up! Really, there are all kinds of folk. Given the example you brought up, some feel the need to trash I bonds for their paltry minimums, while others simply don't bother pos...
by Angst
Fri Apr 18, 2014 12:13 pm
 
Forum: Forum Issues and Administration
Topic: *poor* Bogleheads
Replies: 78
Views: 12876

Re: First of two parter on what is risk

BobK - So often when I read your posts I feel as if I've been transported back to a college classroom. I mean this as a compliment. You are so organized and efficient (and effective) in communicating the subtleties and complexities involved in various financial subject matters, you must be or at lea...
by Angst
Thu Apr 17, 2014 10:42 am
 
Forum: Investing - Theory, News & General
Topic: First of two parter on what is risk
Replies: 26
Views: 2273
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