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by Archie Sinclair
Thu May 21, 2015 6:00 pm
Forum: Investing - Help with Personal Investments
Topic: OTC market mystery
Replies: 3
Views: 298

Re: OTC market mystery

I was curious, so I looked at the history of the price of CLLY. http://www.morningstar.com/stocks/PINX/CLLY/quote.html

It looks like it only trades once every few days, usually for about $4. $9.40 was unusual, and there's no guarantee that you would receive that.
by Archie Sinclair
Thu May 21, 2015 4:42 pm
Forum: Investing - Theory, News & General
Topic: Missing Bonds data in Balances & Holdings
Replies: 7
Views: 487

Re: Missing Bonds data in Balances & Holdings

I don't hold any bonds at Vanguard. But I do sometimes use the Fixed Income Trading page to find out the prices of bonds. If you want up-to-date information, you could try that (unless it has also been affected).
by Archie Sinclair
Thu May 21, 2015 4:36 pm
Forum: Investing - Theory, News & General
Topic: The BIG problem with the S&P 500 index?
Replies: 37
Views: 5943

Re: The BIG problem with the S&P 500 index?

... I don't see why I need to put up with its eccentricities, when there are better options that are easily available. What you do is of course your business. There's no reason anyone has to invest in anything they don't want to, but if you're going to say some other choice is "better" yo...
by Archie Sinclair
Tue May 19, 2015 10:42 pm
Forum: Investing - Theory, News & General
Topic: The BIG problem with the S&P 500 index?
Replies: 37
Views: 5943

Re: The BIG problem with the S&P 500 index?

This is a ridiculous example.... I'm sensing some hostility here. I was just trying to respond to the earlier argument that the S&P 500 is a statistically good sample because it has 500 data points, by providing another example from statistics to think about. If you are a member of the Poors fa...
by Archie Sinclair
Tue May 19, 2015 10:06 pm
Forum: Investing - Theory, News & General
Topic: Money Market Expense Ratios
Replies: 8
Views: 790

Re: Money Market Expense Ratios

Does anyone have any experience with Treasury direct? Yes, and from this experience I want to keep the interactions to a minimum. Exhibit A: Error processing your request. Please submit requests only once and use the buttons and links we've provided on each page. Double clicking on a button or usin...
by Archie Sinclair
Tue May 19, 2015 7:48 pm
Forum: Investing - Theory, News & General
Topic: The BIG problem with the S&P 500 index?
Replies: 37
Views: 5943

Re: The BIG problem with the S&P 500 index?

There are "problems" with the S&P 500 Index but they are so minor that they don't affect an investor in the real world. The index represents about 75% of the market capitalization of the US Total Stock Market and is a sample of 500 against maybe 3,300 investable stocks in the US Stock...
by Archie Sinclair
Tue May 19, 2015 7:25 pm
Forum: Investing - Theory, News & General
Topic: Silver lining for bond fund NAV declines?
Replies: 33
Views: 2599

Re: Silver lining for bond fund NAV declines?

Perhaps I should have been clearer that I'm less concerned with what happens when rates rise than I am with what's happening now: rates still very low but bond NAVs declining. A decline in NAV is essentially the same thing as a rise in yield. Here is an example: If I buy a bond for $100 that pays $...
by Archie Sinclair
Thu May 14, 2015 9:24 pm
Forum: Investing - Theory, News & General
Topic: Why is Vanguard's Web Site So Bad?
Replies: 64
Views: 4958

Re: Why is Vanguard's Web Site So Bad?

Maybe that lack of usefulness is why they don't get much attention -- perhaps VG does just the minimum to meet regulations. I think that they are, in fact, just trying to comply with their legal obligation to notify you of revisions to the prospectus. For better or worse, they probably consider it ...
by Archie Sinclair
Thu May 14, 2015 7:26 pm
Forum: Investing - Theory, News & General
Topic: Why is the nasdaq higher than the S&P500 index?
Replies: 8
Views: 1028

Re: Why is the nasdaq higher than the S&P500 index?

Why is a mile longer than a kilometer?
by Archie Sinclair
Wed May 13, 2015 6:53 pm
Forum: Investing - Theory, News & General
Topic: The BIG problem with the S&P 500 index?
Replies: 37
Views: 5943

Re: The BIG problem with the S&P 500 index?

It's not a big deal in the grand scheme of things. But it's frustrating that all major indicators of "The Market" that are quoted in the media--the Dow, the NASDAQ, the NYSE, and the S&P 500--all have arbitrary and irrational characteristics. The S&P 500 is just the least flawed. M...
by Archie Sinclair
Mon May 11, 2015 7:32 pm
Forum: Investing - Help with Personal Investments
Topic: When does Vanguard take their cut?
Replies: 7
Views: 1298

Re: When does Vanguard take their cut?

I wouldn't describe it as "their cut." Vanguard is ultimately owned by its investors and so it only pays expenses, it doesn't take profits. It has to pay these expenses on a daily basis.
by Archie Sinclair
Sun May 10, 2015 12:26 am
Forum: Personal Consumer Issues
Topic: Brand Loyalty
Replies: 60
Views: 3949

Re: Brand Loyalty

Impressive. Not only an expert in brand loyalty - but you know other forum members minds better than they do. Nonsense in one case. And, you understand another mind better than they do and deem their opinion "untrue"? Do you not feel you are crossing a line here? My mistake - I should hav...
by Archie Sinclair
Sat May 09, 2015 11:43 pm
Forum: Investing - Theory, News & General
Topic: Ang's Book Helped Me Understand Beta Better
Replies: 13
Views: 1116

Re: Ang's Book Helped Me Understand Beta Better

Economics is not a science and there should be no Noble prize in it, especially since there is not one in Math. While EMH and CAPM etc are all nice economic models there are many anomalies and other inefficiencies in real life. Some would say that there is no Nobel Prize in Economics. The Economics...
by Archie Sinclair
Thu May 07, 2015 7:52 pm
Forum: Investing - Theory, News & General
Topic: Fed Chair Yellen Warns on Stock Valuations
Replies: 22
Views: 3899

Re: Fed Chair Yellen Warns on Stock Valuations

I just watched "Mad Money" Cramer's take on it: http://finance.yahoo.com/video/cramer-thanks-nothing-janet-yellen-220000039.html As typical, just more noise, but I did like one comment/question he made: Is the Fed going to tell you when stocks are cheap? Janet won't tell you...but this gu...
by Archie Sinclair
Thu May 07, 2015 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: Diversifying beyond Vanguard Target Date Fund
Replies: 45
Views: 4371

Re: Diversifying beyond Vanguard Target Date Fund

netrammgc wrote:Well, in my mid 30s, I'm getting an itch to do something.

Why not buy a motorcycle or try rock climbing or something?
by Archie Sinclair
Thu May 07, 2015 7:04 pm
Forum: Investing - Theory, News & General
Topic: McNabb op ed - possible 8% cash requirement
Replies: 33
Views: 2983

Re: McNabb op ed - possible 8% cash requirement

The Financial Stability Board is a private association organized under the laws of Switzerland . It serves as an unofficial forum of financial regulators. It's influential, but it is a private body and it has no formal authority to regulate anyone. Designations of SIFIs in the United States are made...
by Archie Sinclair
Thu May 07, 2015 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Credit union question
Replies: 16
Views: 1576

Re: Credit union question

Credit unions come in two types: "Federal Credit Unions" and state-chartered credit unions. All federal credit unions and most state-chartered credit unions are insured and supervised by the National Credit Union Administration ("NCUA"). However, some state-chartered credit union...
by Archie Sinclair
Thu May 07, 2015 6:03 pm
Forum: Investing - Theory, News & General
Topic: McNabb op ed - possible 8% cash requirement
Replies: 33
Views: 2983

Re: McNabb op ed - possible 8% cash requirement

PS - is this a legit topic? Note that discussions of proposed laws or regulations are prohibited.... Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments. I don't know. For the reference of the moderators, Mr. McNabb is disc...
by Archie Sinclair
Thu May 07, 2015 5:43 pm
Forum: Investing - Theory, News & General
Topic: McNabb op ed - possible 8% cash requirement
Replies: 33
Views: 2983

Re: McNabb op ed - possible 8% cash requirement

Y'all are thinking of this the wrong way, because (frankly) the distinguished head of our mutual fund company has stooped to scare-mongering. By statute, designation of a nonbank as a systemically-important financial institution (SIFI) is on a company-by-company basis. It's a highly individualized p...
by Archie Sinclair
Wed May 06, 2015 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: I only use a chrome browser do I need Microsoft Security Essentials?
Replies: 5
Views: 803

Re: I only use a chrome browser do I need Microsoft Security Essentials?

I'm not an expert on this stuff, but I think this is equivalent to: "I only use a blue door. Do I need a lock?"
by Archie Sinclair
Tue May 05, 2015 10:53 pm
Forum: Investing - Help with Personal Investments
Topic: Notary for 401k rollover?
Replies: 15
Views: 906

Re: Notary for 401k rollover?

Advice that I often see on this site is that you want to work as much as possible with the firm that is receiving your assets, not the firm that you are leaving. The firm that you are leaving has no incentive to help you (and might be kind of sleazy anyway, otherwise you probably wouldn't be moving) .
by Archie Sinclair
Mon May 04, 2015 8:13 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Claims Title of World’s Largest Bond Fund
Replies: 20
Views: 2329

Re: Vanguard Claims Title of World’s Largest Bond Fund

I hope this is reporter Kirsten Grind's discovery. I hope Vanguard isn't issuing press releases about this... "Pride goeth before destruction, and an haughty spirit before a fall." I respectfully disagree. Press releases are free advertising to get more investors in the door. I think it w...
by Archie Sinclair
Sun May 03, 2015 5:06 pm
Forum: Investing - Theory, News & General
Topic: Vanguard governance and investor rights
Replies: 66
Views: 3401

Re: Vanguard governance and investor rights

If you read the annual financial statements from the funds, there is no mention of VGI assets held by the fund. The annual financial statements for the funds do say that each fund has contributed capital to Vanguard (currently at a rate of 0.01% of net assets, although the fund has committed to inv...
by Archie Sinclair
Sat May 02, 2015 11:26 pm
Forum: Investing - Theory, News & General
Topic: Vanguard governance and investor rights
Replies: 66
Views: 3401

Re: Vanguard governance and investor rights

Who owns Vanguard Brokerage Service and do the holders of Vanguard Mutual Funds have any say in the operation of VBS or do they just pay for it? You ultimately own VBS. Vanguard Brokerage Services is a division of Vanguard Marketing Corporation, which is a wholly-owned subsidiary of Vanguard Group,...
by Archie Sinclair
Thu Apr 30, 2015 10:19 pm
Forum: Investing - Theory, News & General
Topic: Anyone have an asset allocation not based on percentages?
Replies: 26
Views: 2395

Re: Anyone have an asset allocation not based on percentages

I base my asset allocation on fractions: 1/3 US stocks, 1/3 international stocks, 1/3 fixed income. Percentages are too complicated. :wink:
by Archie Sinclair
Sat Apr 04, 2015 8:11 am
Forum: Investing - Help with Personal Investments
Topic: What to do with my foreign UK stocks?
Replies: 8
Views: 736

Re: What to do with my foreign stocks?

If you're uncomfortable selling the stocks all at once and converting to US dollars, how about setting up a schedule to sell them over time?
by Archie Sinclair
Sun Mar 29, 2015 10:44 pm
Forum: Investing - Theory, News & General
Topic: [finding which mutual funds invest in a given stock]
Replies: 9
Views: 743

Re: Reverse mutual fund lookup?

In Morningstar stock quotes, there is a page listing "Concentrated Shareholders" within the "Ownership" tab. For example, T. Rowe Price Global Technology is apparently the mutual fund that is most concentrated in GOOG shares, with 12.26% of the fund's money invested in GOOG. http...
by Archie Sinclair
Wed Mar 25, 2015 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: [Poll] Would you be disappointed if VG advertised more?
Replies: 19
Views: 1419

Re: [Poll] Would you be disappointed if VG advertised more?

I think it's penny wise and pound foolish to worry about Vanguard's advertising. It probably brings a lot of expense ratio-paying investors in the door. And my recollection is that it isn't very expensive. Obviously there are some forms of advertising that involve pouring money down the drain, like ...
by Archie Sinclair
Tue Mar 24, 2015 8:15 pm
Forum: Investing - Theory, News & General
Topic: What Happens When Vanguard Owns Everything?
Replies: 19
Views: 5071

Re: What Happens When Vanguard Owns Everything?

First, it won't as the M* article makes clear. Second, beware of SIFI. I quote an excerpt about BlackRock (and Vanguard) from a Fortune article dated 7 July 2014. " So here we are, with a problem that’s playing out in the Treasury. One of its arms, the Financial Stability Oversight Council, ha...
by Archie Sinclair
Sun Mar 22, 2015 9:30 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Ex-US Small Cap Value Petition
Replies: 24
Views: 3219

Re: Vanguard Ex-US Small Cap Value Petition

I would support this. But I think getting an Admiral shares version of Vanguard FTSE All-World ex-US Small-Cap Index Fund (VSS / VFSVX) is more important.
by Archie Sinclair
Fri Mar 20, 2015 8:30 pm
Forum: Investing - Theory, News & General
Topic: "Assessing the Risk of Using Just One Fund Company.."
Replies: 18
Views: 2884

Re: "Assessing the Risk of Using Just One Fund Company.."

....... would require collusion between executives at Vanguard, their affiliated custodial banks i.e. JP Morgan, BBH, and BNY Mellon, the Depository Trust Company and their auditor PWC.....Madoff's case, he was used his own "auditor" who was basically his family friend. Madoff's custodial...
by Archie Sinclair
Wed Mar 18, 2015 7:22 pm
Forum: Investing - Theory, News & General
Topic: Should William McNabb III be chairman of Vanguard's board?
Replies: 8
Views: 1345

Re: Should William McNabb III be chairman of Vanguard's boar

Vanguard's recent letter to corporate directors found here - https://about.vanguard.com/who-we-are/our-leaders/ - states as #1 in a list of principals: Board should be substantially independent of management and have independent leadership (i.e., chair or lead director). What I find interesting is ...
by Archie Sinclair
Sun Feb 15, 2015 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Buying presidential dollar coins with a credit card
Replies: 11
Views: 1130

Re: Buying presidential dollar coins with a credit card

The behavior described above is why the program ended. http://www.businessinsider.com/us-mint-ends-the-dollar-coin-scam-for-airline-miles-2011-7 "It's not illegal," he said, "But it's an abuse of the system. That's not what the system was set up to do. The system was set up to promote...
by Archie Sinclair
Wed Jan 28, 2015 7:32 pm
Forum: Investing - Theory, News & General
Topic: What mutual fund companies do you use?
Replies: 63
Views: 3603

Re: What mutual fund companies do you use?

Some Bogleheads hold Baird Intermediate Municipal Bond Fund (BMBIX). Baird is an employee-owned mutual fund company in Milwaukee. The potential advantage of BMBIX is that it holds higher credit quality bonds than the Vanguard equivalent, Vanguard Intermediate-Term Tax-Exempt Fund. While I have been ...
by Archie Sinclair
Wed Jan 28, 2015 6:41 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's government bond index funds
Replies: 17
Views: 2216

Re: Vanguard's government bond index funds

One thing that confuses me is the MBS vs. GSE breakdown. If a fund holds Fannie and Freddie but shows 0% MBS, does this mean those holdings are not actually MBS but rather are financing for the agencies themselves? In that case, the agency bonds would not be subject to the same negative convexity o...
by Archie Sinclair
Wed Jan 21, 2015 11:50 pm
Forum: Investing - Help with Personal Investments
Topic: Real 3% (CPI plus 3% guaranteed)
Replies: 21
Views: 1894

Re: Real 3% (CPI plus 3% guaranteed)

This sounds like it might be too good to be true.
by Archie Sinclair
Thu Jan 08, 2015 8:36 pm
Forum: Investing - Theory, News & General
Topic: New Vanguard AMT-free National Municipal Bond Fund
Replies: 95
Views: 10274

Re: New Vanguard AMT-free National Municipal Bond Fund

Puerto Rico bonds have unusual tax qualities. They are exempt from both federal taxes and the taxes of any U.S. state. Thus, it's reasonable to view them as a distinct asset class that attracts different investors than a national fund. S&P didn't remove Puerto Rico bonds because of their "...
by Archie Sinclair
Wed Jan 07, 2015 8:34 pm
Forum: Investing - Theory, News & General
Topic: New Vanguard AMT-free National Municipal Bond Fund
Replies: 95
Views: 10274

Re: New Vanguard AMT-free National Municipal Bond Fund

U.S. Territories such as Puerto Rico are excluded. Although I realize people aren't fans of Puerto Rico bonds at the moment, this is pretty concerning. S&P removed bonds issued by U.S. territories in response to concerns over Puerto Rico (http://www.reuters.com/article/2014/01/31/usa-puertorico...
by Archie Sinclair
Fri Nov 14, 2014 8:16 pm
Forum: Personal Consumer Issues
Topic: Fidelity 2-Factor authentication fail...
Replies: 13
Views: 1245

Re: Fidelity 2-Factor authentication fail...

I suspect that thieves who steal lots of electronic login information are not interested in calling Fidelity separately for each account and pretending to be that individual. If you're a Russian hacker, how many fake American voices can you mimic, and how soon would Fidelity catch on? Once you break...
by Archie Sinclair
Fri Nov 14, 2014 7:46 pm
Forum: Investing - Help with Personal Investments
Topic: Should I have even $1 in Bonds?
Replies: 34
Views: 4557

Re: Should I have even $1 in Bonds?

There could be changes in social security and/or taxation over the decades, for whatever reason. Having a little bit of money in safe investments, in addition to the social security and your modest pension, might be a good idea.
by Archie Sinclair
Wed Nov 12, 2014 10:55 pm
Forum: Personal Consumer Issues
Topic: Very old Chinese bond; worth anything?
Replies: 18
Views: 1995

Re: Very old Chinese bond; worth anything?

letsgobobby wrote:Chinese government was overthrown in 1949. Doubt the Communists would honor this regardless.

But the Republic of China was not overthrown, it retreated to Taiwan. It still calls itself the Republic of China and it has a GDP of $517 billion.
by Archie Sinclair
Sat Oct 11, 2014 1:30 pm
Forum: Investing - Theory, News & General
Topic: "Vanguard converting mutual fund accounts to brokerage?
Replies: 302
Views: 33087

Re: "Vanguard converting mutual fund accounts to brokerage?

Does anyone have any insight into why the below is the case? Is there some legal obstacle? You’ll no longer be able to receive Vanguard fund distributions by check, by automatic transfer to your bank account, or by automatic reinvestment into another Vanguard fund. If you currently use these service...
by Archie Sinclair
Fri Oct 03, 2014 7:09 pm
Forum: Investing - Theory, News & General
Topic: Bill Gross moving from PIMCO to Janus, Monday
Replies: 119
Views: 12638

Re: Bill Gross moving from PIMCO to Janus, Monday

nisiprius wrote:The holdings, as of July, were, for Schwab Target 20202:

Now, that is what I call long-term investing.
by Archie Sinclair
Wed Sep 24, 2014 8:39 pm
Forum: Investing - Theory, News & General
Topic: VNQI name anomaly on Google Finance
Replies: 8
Views: 811

Re: VNQI name anomaly on Google Finance

"Vanguard International Equity Index Funds" is the name of the legal entity (a Delaware statutory trust) that contains the Vanguard Global ex-U.S. Real Estate Index Fund, Vanguard Total World Stock Index Fund, Vanguard Emerging Markets Stock Index Fund, and several other funds. http://www....
by Archie Sinclair
Sat Jul 05, 2014 9:54 pm
Forum: Investing - Theory, News & General
Topic: expense ratio of VTMGX is lower than VPADX or VEUSX
Replies: 3
Views: 530

Re: expense ratio of VTMGX is lower than VPADX or VEUSX

Congress decides what taxes you pay, not Vanguard.
by Archie Sinclair
Sat Jul 05, 2014 9:50 pm
Forum: Investing - Theory, News & General
Topic: "Only a fraction of Americans directly own stocks"
Replies: 27
Views: 3515

Re: "Only a fraction of Americans directly own stocks"

In related news: "Only a fraction of Americans directly grow food"
by Archie Sinclair
Sat Jun 28, 2014 8:08 pm
Forum: Investing - Theory, News & General
Topic: Better than index funds: Buy a conglomerate’s stock
Replies: 27
Views: 3977

Re: Better than index funds: Buy a conglomerate’s stock

(How are TransAmerica and Gulf+Western doing these days? I don't think I see "A Gulf+Western Company" underneath the Grand Teton mountain for Paramount Pictures any more...) Transamerica is now a subsidiary of the Dutch insurance company Aegon. Gulf+Western sold off various random busines...
by Archie Sinclair
Sat Jun 14, 2014 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Credit union with good online bill pay?
Replies: 29
Views: 1952

Re: Credit union with good online bill pay?

I apologize, I inadvertently edited my post after you responded.
by Archie Sinclair
Sat Jun 14, 2014 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Credit union with good online bill pay?
Replies: 29
Views: 1952

Re: Credit union with good online bill pay?

Every bank I have ever used for online bill pay is better than my credit union. Why restrict yourself to credit unions if they can't do the job you want done? (I am not saying they can't, but you know of at least one credit union that can't.) Apparently, the OP has a preference for credit unions. S...
by Archie Sinclair
Fri Jun 13, 2014 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: IMCA Capital Unsolicited Card Sent?
Replies: 17
Views: 4883

Re: IMCA Capital Unsolicited Card Sent?

According to this, it's not a real card, but simply an invitation to do business with them, and no credit was checked. Sounds like run-of-the-mill deceptive advertising. http://imcacapital.wordpress.com Bob Is it a real credit card? The invitation you received is not a real credit card. The black s...

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