Search found 1995 matches

by Barry Barnitz
Sat Jun 13, 2015 7:07 pm
Forum: Investing - Theory, News & General
Topic: SEC Proposes Rules to Modernize Reporting
Replies: 0
Views: 420

SEC Proposes Rules to Modernize Reporting

Hi: SEC Proposes Rules to Modernize and Enhance Investment Company and Investment Adviser Reporting | The National Law Review , posted on: Friday, June 12, 2015 On May 20, 2015, the SEC unanimously approved proposed rules, forms and amendments that are intended to modernize and enhance the reporting...
by Barry Barnitz
Tue Jun 02, 2015 4:45 am
Forum: Investing - Theory, News & General
Topic: Paper: Two Determinants of Lifecycle Investment Success
Replies: 12
Views: 1683

Paper: Two Determinants of Lifecycle Investment Success

Hi : 15 page paper examines target retirement fund investing: Hsu, Jason C. and Treussard, Jonathan and Viswanathan, Vivek and Wu, Lillian J., Two Determinants of Lifecycle Investment Success (May 31, 2015). Journal of Retirement, Forthcoming. Available at SSRN: http://ssrn.com/abstract=2612595. Abs...
by Barry Barnitz
Thu May 28, 2015 4:44 pm
Forum: Investing - Theory, News & General
Topic: Global mutual fund expense ratios
Replies: 3
Views: 348

Re: Global mutual fund expense ratios

Hi:

Fund weighted.
by Barry Barnitz
Thu May 28, 2015 4:30 pm
Forum: Investing - Theory, News & General
Topic: Global mutual fund expense ratios
Replies: 3
Views: 348

Global mutual fund expense ratios

Hi: Blog post---> Mutual fund average expense ratios in 2014 | Financial Page Morningstar reports mutual fund expense ratios for nations having mutual fund industries that have at least 30 billion dollars of assets under management. In 2014 that database consisted of 84,044 mutual funds managing 60....
by Barry Barnitz
Fri May 22, 2015 3:09 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Managed Payout Fund
Replies: 16
Views: 2163

Re: Vanguard Managed Payout Fund

Hi: For those interested, here are links to the Managed Payout Fund's annual reports. The funds are a part of the Valley Forge Funds, which also includes the Vanguard Balanced Index fund, whose report appears first in the aggregated annual report filings with the SEC. You must scroll down to get to ...
by Barry Barnitz
Wed May 13, 2015 4:41 am
Forum: Local Chapters and Bogleheads Community
Topic: Bogleheads® Wiki 2015 annual report
Replies: 4
Views: 1470

Bogleheads® Wiki 2015 annual report

Hi: May 13, 2015 marks the seventh anniversary of the founding of the Bogleheads Wiki . As is customary, we issue an annual report to the forum readership on this date, giving everyone a glimpse at the statistical measures of wiki page creation, editing, and readership. We list the wiki's favorite p...
by Barry Barnitz
Mon May 11, 2015 9:12 pm
Forum: Investing - Theory, News & General
Topic: "Why Would an Experienced Investor Buy a Target-Date Fund?"
Replies: 38
Views: 5257

Re: "Why Would an Experienced Investor Buy a Target-Date Fund?"

Hi: Here is the chapter and verse (perhaps this wiki page should be a sticky, considering the multitude of times the desire for balanced funds using municipal bonds as the bond component comes up in discussions): Municipal bond fund regulation - Bogleheads According to the Tax Reform Act of 1976 a f...
by Barry Barnitz
Fri May 08, 2015 2:48 pm
Forum: Investing - Theory, News & General
Topic: Deactivating Active Share
Replies: 1
Views: 359

Deactivating Active Share

Hi: AQR takes an empirical look at active share in this 14 page April 21, 2015 paper: Frazzini, Andrea and Friedman, Jacques and Pomorski, Lukasz, Deactivating Active Share (April 21, 2015). Available at SSRN: http://ssrn.com/abstract=2597122 or http://dx.doi.org/10.2139/ssrn.2597122 Abstract We inv...
by Barry Barnitz
Tue May 05, 2015 11:28 am
Forum: Investing - Theory, News & General
Topic: Vanguard Personal Advisor Services now live
Replies: 38
Views: 6334

Vanguard Personal Advisor Services now live

Hi: The Vanguard Personal Advisor Services officially opens for business on May 5, 2015. Here is the webpage on the Vanguard site: Vanguard Personal Advisor Services | Vanguard . According to press reports , the service by March 31, 2015 had accumulated $7 billion dollars of investor capital investm...
by Barry Barnitz
Mon May 04, 2015 3:14 pm
Forum: Investing - Theory, News & General
Topic: Fiduciary Standard - Now open for public comments
Replies: 20
Views: 2176

Re: Fiduciary Standard - Now open for public comments

Hi: The Securities Industry and Financial Markets Association (SIFMA) is a United States industry trade group representing securities firms, banks, and asset management companies. SIFMA has submitted a letter "to the U.S. Department of Labor (DOL) requesting an 45-day extension to comment on Co...
by Barry Barnitz
Sun May 03, 2015 5:20 am
Forum: Investing - Theory, News & General
Topic: How Index Funds Exercise Their Clout
Replies: 9
Views: 1338

Re: How Index Funds Exercise Their Clout

HI: Here is a counter-argument from an active manager: Index Investing Puts Americans’ Retirement Savings in Peril, Wintergreen Advisers Says | Business Wire , April 30, 2015 The rush of money into index equity funds has ballooned into a market mania that is fueling excessive CEO compensation and pu...
by Barry Barnitz
Mon Apr 27, 2015 2:53 pm
Forum: Investing - Theory, News & General
Topic: Paper:The New Stock Market: Sense and Nonsense
Replies: 0
Views: 519

Paper:The New Stock Market: Sense and Nonsense

Hi: Recent paper on the stock market (62 pages): Fox, Merritt B. and Glosten, Lawrence R. and Rauterberg, Gabriel V., The New Stock Market: Sense and Nonsense (March 17, 2015). Duke Law Journal, Forthcoming; Columbia Law and Economics Working Paper No. 513; Columbia Business School Research Paper No...
by Barry Barnitz
Fri Apr 24, 2015 3:40 pm
Forum: Investing - Theory, News & General
Topic: Taiwan 2015 Bogleheads Conference Report & Pics
Replies: 3
Views: 518

Re: Taiwan 2015 Bogleheads Conference Report & Pics

Hi:

With a nod to verfasser, we have collated information about the 2015 Taiwan Bogleheads Conference in the wiki. Here is the page, for posterity and the historical record --->Taiwan Bogleheads 2015 conference - Bogleheads

regards,
by Barry Barnitz
Sun Apr 19, 2015 3:57 pm
Forum: Investing - Theory, News & General
Topic: Fiduciary Standard - Now open for public comments
Replies: 20
Views: 2176

Re: Fiduciary Standard - Now open for public comments

Hi: News article: In Labor Department's fiduciary proposal, a nod to passive investing Buried in the voluminous, 444-page proposal, sent out for public comment this week, is a caveat that could make it easier for broker-dealers to meet their requirements under the law if they sell low-cost index fun...
by Barry Barnitz
Sun Apr 19, 2015 3:48 pm
Forum: Investing - Theory, News & General
Topic: Fiduciary Standard - Now open for public comments
Replies: 20
Views: 2176

Re: Fiduciary Standard - Now open for public comments

Hi: Here is the Department of Labor page: Conflicts of Interest Proposed Rule Unlike the U.K. and Australia, which banned commission-based compensation schemes for advisors , the Labor proposal retains this compensation structure. From the FAQ's: The Department also considered banning all payments t...
by Barry Barnitz
Thu Apr 02, 2015 11:26 am
Forum: Investing - Theory, News & General
Topic: News article: Vanguard Bets Big on Financial Advice
Replies: 24
Views: 3449

Re: News article: Vanguard Bets Big on Financial Advice

In the article, McNabb states that research shows an adviser can add 3% points to investment portfolios by providing discipline and by focusing on AA. Seems like a lot. I guess most BH's already have discipline and already focus on AA, so the return benefit to them/us might be minimal. Perhaps it i...
by Barry Barnitz
Thu Apr 02, 2015 3:28 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Treasury Index fund : Short/Long term Cap gains
Replies: 3
Views: 468

Re: Vanguard Treasury Index fund : Short/Long term Cap gains

Hi: Here is Vanguard's announcement of estimated dividends from funds making supplemental distributions in the first quarter of 2015: Estimated 2014 supplemental fund distributions . The Vanguard funds listed below earned taxable income and/or realized capital gains for their fiscal years ended Dece...
by Barry Barnitz
Wed Apr 01, 2015 1:46 pm
Forum: Investing - Theory, News & General
Topic: News article: Vanguard Bets Big on Financial Advice
Replies: 24
Views: 3449

News article: Vanguard Bets Big on Financial Advice

Hi: Extended article on Vanguard business initiatives: Vanguard Group Bets Big on Financial Advice | Institutional Investor , Julie Segal, investor.com. The article includes financial manager, author, and forum member Rick Ferri. Also includes a look at Vanguard's new "robo" advisory servi...
by Barry Barnitz
Wed Apr 01, 2015 1:27 pm
Forum: Investing - Theory, News & General
Topic: Sheldon Jacobs, Author in Rise of No-Load Funds, Dies at 84
Replies: 6
Views: 704

Re: Sheldon Jacobs, Author in Rise of No-Load Funds, Dies at

Hi: Columnist Chuck Jaffe also weighs in with a remembrance: Your Funds: Legend’s passing leaves lesson in simplicity - Richmond.com: Personal-finance Sheldon Jacobs won by not losing. He wasn’t the greatest ever at selecting mutual funds; he didn’t post breathtaking numbers. He won the race in the ...
by Barry Barnitz
Sat Mar 28, 2015 3:19 pm
Forum: Investing - Theory, News & General
Topic: Long-Term Care Utility and Late in Life Saving
Replies: 0
Views: 358

Long-Term Care Utility and Late in Life Saving

Hi: Vanguard financed a new study on late life retirement savings patterns. According to this news article, Vanguard Answers a Retirement Riddle , by Kerry Pechter, Wed, Mar 18, 2015, Retirement Income Journal: There’s been a long-running debate about the tendency to hoard. Some experts believe that...
by Barry Barnitz
Tue Mar 24, 2015 4:13 pm
Forum: Investing - Theory, News & General
Topic: Vanguard index fund security lending in 2014
Replies: 23
Views: 2126

Re: Vanguard index fund security lending in 2014

So Barry, forgive me for being a little slow, but I gather you are agreeing with JoMoney and Tanelorn above? So if lending income were high enough, the fund would still have an ER while it's overall returns could exceed its benchmark by more than the ER. Is this correct? Or are you contradicting Jo...
by Barry Barnitz
Tue Mar 24, 2015 3:04 pm
Forum: Investing - Theory, News & General
Topic: Vanguard index fund security lending in 2014
Replies: 23
Views: 2126

Re: Vanguard index fund security lending in 2014

Hi: Mutual fund expenses are paid for from fund income. For stock funds this includes: 1. Dividends received from stock holdings 2. Interest earned from cash balances 3. Security lending income If income is not sufficient to pay for the expenses, than the residual expenses must be paid by selling en...
by Barry Barnitz
Tue Mar 24, 2015 12:57 pm
Forum: Investing - Theory, News & General
Topic: Vanguard index fund security lending in 2014
Replies: 23
Views: 2126

Vanguard index fund security lending in 2014

Hi: As you may know, Vanguard equity index funds lend out portfolio securities to earn security lending income. Here is a tabulation of the funds' fiscal year security lending income as documented in annual reports. This is a posting on our site's replacement blog: Vanguard index fund security lendi...
by Barry Barnitz
Sat Mar 21, 2015 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with Vanguard Annuities?
Replies: 46
Views: 3487

Re: Experience with Vanguard Annuities?

Hi Nisi: Here is a quote from the FAQ from the insurance guarantee association from my state of residence: Q> Why hasn't my agent or company told me more about the Virginia Life, Accident & Sickness Insurance Guaranty Association? A> The law prohibits insurance agents and companies from using th...
by Barry Barnitz
Fri Mar 20, 2015 3:08 pm
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolios [now live]
Replies: 399
Views: 49422

Re: Schwab Intelligent Portfolios [now live]

Hi: Bloomberg news article, with a Vanguard investor's tale, including a glance over of the Vanguard, Schwab, and robo-advisors platforms----> Vanguard, Charles Schwab Turn to Robo-Advising - Bloomberg Business , Margaret Collins. March 20, 2015. http://media.gotraffic.net/images/iY8F0GqK0mco/v1/-1x...
by Barry Barnitz
Thu Mar 19, 2015 11:18 am
Forum: Investing - Theory, News & General
Topic: Vanguard - The New Bond King - WSJ
Replies: 27
Views: 4686

Re: Vanguard - The New Bond King - WSJ

Hi:

Here is our wiki page with access to Morningstar links to investor returns for Vanguard indexed bond funds ---->Vanguard index fund investor returns - Bogleheads

Note that Morningstar compiles returns for only one-share class of a fund, in this case investor shares.

regards,
by Barry Barnitz
Thu Mar 19, 2015 3:30 am
Forum: Investing - Theory, News & General
Topic: Vanguard Price War Coming for Small Business Plans
Replies: 1
Views: 692

Vanguard Price War Coming for Small Business Plans

Hi: News release from the WJS (use google search to read article) ---> Vanguard to Bring Price War to Small-Business Pensions Market - WSJ , by By Juliet Samuel March 17, 2015. Vanguard Group is bringing the investment price war to the small-business pensions market, according to its Chief Executive...
by Barry Barnitz
Wed Mar 18, 2015 12:46 pm
Forum: Investing - Theory, News & General
Topic: Returns and Correlations on Global Stocks and Bonds
Replies: 4
Views: 585

Re: Returns and Correlations on Global Stocks and Bonds

Hi: The US Vanguard international bond fund is most likely linked to a "proprietary" index-Barclays Global Aggregate ex-USD Float-Adjusted Index (Hedged)- carved out for them by Barclays. Good luck getting backdated annual data unless Vanguard Institutional provides it in a white paper. Ba...
by Barry Barnitz
Mon Mar 16, 2015 1:42 pm
Forum: Investing - Theory, News & General
Topic: Which fund has the lowest MER ever?
Replies: 11
Views: 1038

Re: Which fund has the lowest MER ever?

Twins Fan wrote:What is a MER... is that like and Expense Ratio? :happy


The "expense ratio", as it is known to citizens of the U.S. goes by other names in other countries. See --> Expense ratios - Bogleheads, for the term used by Canadian, UK and Eurozone, and Australian investors.

regards,
by Barry Barnitz
Thu Mar 12, 2015 8:25 pm
Forum: Investing - Theory, News & General
Topic: Finra raps UBS, Vanguard with fines totaling $850,000
Replies: 23
Views: 3174

Re: Finra raps UBS, Vanguard with fines totaling $850,000

What was the relationship between these "brokers" and Vanguard? Brokers that sold Vanguard mutual funds and ETFs to the public? Who were they support to report those liens or civil judgements do? Were these brokers that had done something bad to Vanguard, and Vanguard took them to court.....
by Barry Barnitz
Thu Mar 12, 2015 4:59 pm
Forum: Investing - Theory, News & General
Topic: Finra raps UBS, Vanguard with fines totaling $850,000
Replies: 23
Views: 3174

Finra raps UBS, Vanguard with fines totaling $850,000

Hi: News release, March 11, 2015: Finra raps UBS, Vanguard with fines totaling $850,000 Finra fined two firms a total of $850,000 this week, sending a message that brokerages need to be more diligent about disclosing their brokers' bankruptcies, civil judgments and other violations to regulators. Th...
by Barry Barnitz
Thu Mar 12, 2015 3:56 pm
Forum: Investing - Theory, News & General
Topic: Vanguard CRSP index fund turnover rates (2014)
Replies: 22
Views: 1564

Re: Vanguard CRSP index fund turnover rates (2014)

Okay, got it. So where does an index based on CRSP fit in to the front running issue, particularly small cap stocks? Hi Hank: As memory serves, Gus Sauter produced an entry for the Journal of Indexes in 2002 outlining his practitioner perspective on index construction. This preceded Vanguard's adop...
by Barry Barnitz
Thu Mar 12, 2015 2:16 pm
Forum: Investing - Theory, News & General
Topic: Vanguard CRSP index fund turnover rates (2014)
Replies: 22
Views: 1564

Re: Vanguard CRSP index fund turnover rates (2014)

Hi: Academic studies on front-running: Petajisto, Antti, The Index Premium and its Hidden Cost for Index Funds (April 8, 2010). Yale SOM Working Paper No. 1235604. Available at SSRN: http://ssrn.com/abstract=1235604 or http://dx.doi.org/10.2139/ssrn.1235604 Abstract: This paper empirically investiga...
by Barry Barnitz
Wed Mar 11, 2015 9:29 pm
Forum: Investing - Theory, News & General
Topic: Vanguard CRSP index fund turnover rates (2014)
Replies: 22
Views: 1564

Re: Vanguard CRSP index fund turnover rates (2014)

Hi: Vanguard does not post daily fund holdings for its funds tracking CRSP and FTSE benchmarks. See Don’t Expect Daily Transparency in Vanguard ETFs , Chris Dieterich, Focus on Funds, Barron's, and linked WSJ article. Jonathan Burton reports for The Wall Street Journal that Vanguard doesn’t post the...
by Barry Barnitz
Wed Mar 11, 2015 8:13 pm
Forum: Investing - Theory, News & General
Topic: Vanguard CRSP index fund turnover rates (2014)
Replies: 22
Views: 1564

Vanguard CRSP index fund turnover rates (2014)

Hi: The just concluded 2014 fiscal year marked the first full year of results for Vanguard's U.S. stock index funds tracking CRSP indexes. One interesting result from the year's investment results is that the CRSP index funds had lower turnover rates than did the Vanguard stock index funds tracking ...
by Barry Barnitz
Sat Mar 07, 2015 5:38 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Target Retirement Funds
Replies: 3
Views: 810

Re: Vanguard Target Retirement Funds

Hi: For concision of links: Forum discussion: Bogleheads • View topic - International increase in Target Retirement & LifeStrategy Blog postings: Vanguard Increases International Allocation to Target Retirement and LifeStrategy Funds - Oblivious Investor Vanguard announces changes to target reti...
by Barry Barnitz
Thu Mar 05, 2015 9:42 pm
Forum: Investing - Theory, News & General
Topic: How can I follow the mid-day progress of the 4500 completion
Replies: 4
Views: 556

Re: How can I follow the mid-day progress of the 4500 comple

HI:

One minor correction. The Vanguard Extended Market Index Fund tracks the S&P Completion Index.

regards,
by Barry Barnitz
Wed Mar 04, 2015 2:17 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Managed Payout to add new fund
Replies: 30
Views: 3628

Re: Vanguard Managed Payout to add new fund

Hi: News article from Investment News (not sure how long link will be accessible): Vanguard tiptoes into the liquid alternatives market The liquid alternative investments market has received an unlikely endorsement from low-cost indexing stalwart The Vanguard Group Inc. Some money managers and finan...
by Barry Barnitz
Tue Mar 03, 2015 12:44 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Employee Benefit Index Dividends
Replies: 6
Views: 883

Re: Vanguard Employee Benefit Index Dividends

Hi: An increasingly common investment vehicle in 401-k plans is a Collective Investment Trust (CIT). See our site's replacement blog for an introduction to this type of investment ---> What is a Collective Investment Trust | Financial Page . Note that for a CIT: A CIT, unlike a mutual fund, does not...
by Barry Barnitz
Sun Mar 01, 2015 9:04 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Managed Payout to add new fund
Replies: 30
Views: 3628

Re: Vanguard Managed Payout to add new fund

Hi: Link to Vanguard white paper: Liquid alternatives: A better mousetrap? , August 6, 2014. Investor and advisor interest in liquid alternative funds has increased dramatically in recent years, with more than 70% of their cash flows and 68% of new product launches coming since 2009. A new Vanguard ...
by Barry Barnitz
Sun Mar 01, 2015 6:49 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Managed Payout to add new fund
Replies: 30
Views: 3628

Re: Vanguard Managed Payout to add new fund

Hi: The full quote from the Statement of Additional Information indicates that the subsidiary is to used for commodity investments: Subsidiary Investments. The Alternative Strategies Fund may invest in a wholly owned subsidiary organized under the laws of the Cayman Islands. The Fund is the sole ben...
by Barry Barnitz
Sun Mar 01, 2015 1:33 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Managed Payout to add new fund
Replies: 30
Views: 3628

Vanguard Managed Payout to add new fund

Hi: News article. Feb. 27, 2015 : Vanguard to Diversify Managed Payout Offering with Liquid Alternative Investments Vanguard plans to further diversify the $1.6 billion Vanguard Managed Payout Fund by adding a new offering, Vanguard Alternative Strategies Fund. The firm filed a registration statemen...
by Barry Barnitz
Thu Feb 26, 2015 12:06 pm
Forum: Investing - Help with Personal Investments
Topic: Target Retirement Trust?
Replies: 1
Views: 317

Re: Target Retirement Trust?

Hi: The Target Retirement Trust is a collective investment trust. We have an explanations of these vehicles: Simpler post for general audience in the unofficial (transferred) forum blog--> What is a Collective Investment Trust | Financial Page . Here is the Vanguard Institutional page devoted to col...
by Barry Barnitz
Sat Feb 21, 2015 12:14 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads 2015 Annual Conference - Taiwan
Replies: 8
Views: 1231

Re: Bogleheads 2015 Annual Conference - Taiwan

Hi Verfasser: I have created a new wiki page for the impending conference. This can be updated once the conference is completed. I will need your help in providing Chinese reference links to book titles, etc.:happy Here is the page, in its development state ---> Taiwan Bogleheads 2015 conference - B...
by Barry Barnitz
Fri Feb 20, 2015 1:50 am
Forum: Investing - Help with Personal Investments
Topic: Staying Away from Annuities in 401(k)/How to Tell
Replies: 6
Views: 702

Re: Staying Away from Annuities in 401(k)/How to Tell

Hi ae88: If you read the prospectus of the Vanguard Variable Insurance Fund - Diversified Value Portfolio (available for download from the Vanguard - Product overview - VVIF-Diversified Value --open the more link and click the statutory prospectus link), you will find that this is a fund exclusively...
by Barry Barnitz
Wed Feb 18, 2015 7:12 pm
Forum: Investing - Help with Personal Investments
Topic: Variable Annunity ??
Replies: 20
Views: 1455

Re: Variable Annunity ??

Hi:

Here is the link to the annuity webpage, which provides some information regarding this product, as well as a link to the prospectus; Riversource RAVA 5 Advantage VA.

regards,
by Barry Barnitz
Tue Feb 17, 2015 4:59 am
Forum: Investing - Theory, News & General
Topic: Improving the Lifestrategy Funds
Replies: 63
Views: 6003

Re: Improving the Lifestrategy Funds

If only could do muni bonds for taxable accounts. Hi LA: This request comes up frequently. The reason that Vanguard has only one balanced fund that includes muni bonds (the tax-managed balanced fund) is that regulations require that a mutual fund hold at least 50% of fund assets in muni securities ...
by Barry Barnitz
Sat Feb 14, 2015 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard sued for charging too little
Replies: 282
Views: 50654

Re: Vanguard sued for charging too little

Hi: News update, Feb. 13, 2015: Judge quizzes both sides in Vanguard whistleblower case New York Superior Court Judge Joan Madden grilled lawyers for Vanguard Group and for former Vanguard tax attorney turned whistleblower David Danon this afternoon before promising to consider Vanguard's request to...
by Barry Barnitz
Wed Feb 11, 2015 9:52 pm
Forum: Investing - Theory, News & General
Topic: Wiki - For new investors: The Importance of Saving Early
Replies: 27
Views: 2659

Re: Wiki - For new investors: The Importance of Saving Early

Hi lackey:

The note I added includes a link to our blog posting on the long term global market real returns history. Here is the link included in the note --->Global investment portfolios

regards,

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