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Re: Testamentary Trust as Beneficiary

Vanguard keeps costs low by providing cookie cutters. If you don't like cookie cutters, you should expect to pay more for personalized service. Oh, gee I must be lucky that my credit union was able to accommodate my beneficiary request without cookie cutters. They are a premium non-profit though. A...
by Browser
Sun Apr 20, 2014 11:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust as Beneficiary
Replies: 19
Views: 793

Re: Testamentary Trust as Beneficiary

Voyager clients No - I am one. Flagship client requires $1M in assets. Establishing a testamentary trust for benefit of minor children is not an unusual option and shouldn't require a $1M IRA to do it.
by Browser
Sun Apr 20, 2014 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust as Beneficiary
Replies: 19
Views: 793

Re: Testamentary Trust as Beneficiary

You'll need to consider your beneficiary designations for your IRA and other accounts. My attorney included a testamentary trust designation in my Will for the benefit of minor heirs. However, most of my financial assets are in IRA and 403(b) accounts. It turned out that Vanguard would not accept a ...
by Browser
Sat Apr 19, 2014 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust as Beneficiary
Replies: 19
Views: 793

Re: Google Voice Not Supported on OBi Devices After May 15 2

I guess if you live in a cave, I guess you didn't know about this. I knew about it last summer sometime when I was shopping for a Voip device for my mother. Went ahead and got the Obi to use with GV, planning on converting over to a paid service after GV support ended. Actually went with Callcentric...
by Browser
Sat Apr 19, 2014 10:46 am
 
Forum: Personal Consumer Issues
Topic: Google Voice Not Supported on OBi Devices After May 15 2014
Replies: 45
Views: 1958

Re: First of two parter on what is risk

It's becoming clearer to me that we're asking the wrong question in 99% of the discussions about investment "risk". All of those discussions are narrowly focused on "returns", and risk is seen as the means to those returns, or the necessary evil that must be endured to achieve re...
by Browser
Fri Apr 18, 2014 1:29 am
 
Forum: Investing - Theory, News & General
Topic: First of two parter on what is risk
Replies: 26
Views: 1650

Re: Another take on the "rebalancing bonus"

Browser: I get what you're saying about perfect timing, but in a sense my point is independent of it. The fact is, an unsupervised "asset allocation" did oscillate between those two extremes just within the last 5 years, and who in their right mind is okay with both 50/50 and 70/30, at wh...
by Browser
Thu Apr 17, 2014 9:50 pm
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: Another take on the "rebalancing bonus"

Browser: why do you have to go roaming around in the 70s and 80s? The "straw man being trotted around" showed up in the last 5 years! An allocation of 70/30 VTI/BND right now was 50/50 in March 2009, if dividends were spent or reinvested but not used to rebalance. My numbers were not acci...
by Browser
Thu Apr 17, 2014 1:36 pm
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: Another take on the "rebalancing bonus"

Jack Bogle thinks rebalancing is probably unnecessary in the long run, but if you need that psychological crutch and it makes you feel better then do it -- but be sensible about it and only rebalance infrequently when things get really out of whack. Jack Bogle: I am in a small minority on the idea o...
by Browser
Thu Apr 17, 2014 11:44 am
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: Another take on the "rebalancing bonus"

I find it interesting how much press rebalancing gets, how much effort goes into study of trivially different rebalancing techniques, etc vs how little it matters. I agree with you that over the decades long time scale it might matter some, but then given stocks have risen very high you have more m...
by Browser
Thu Apr 17, 2014 11:32 am
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: U.S. stocks in freefall

Thank you. We love our freefall thread. :sharebeer
by Browser
Thu Apr 17, 2014 10:39 am
 
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 742
Views: 122400

Re: Another take on the "rebalancing bonus"

The question remains for me: what do you do when your AA of 50/50 drifts to 70/30? What is different between the Browser that pegged his risk tolerance at 50/50 and the Browser that keeps going with 70/30? A bull market? The confidence that both Browsers are smart enough to outmaneuver it? Despite ...
by Browser
Thu Apr 17, 2014 10:35 am
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: Another take on the "rebalancing bonus"

I think the single point made about rebalancing by Edesess is that the notion that there is some sort of excess nominal return to be had from rebalancing is a pretty tenuous assertion. Rebalancing may have risk-management benefits but there isn't likely to be any "free lunch" associated wi...
by Browser
Wed Apr 16, 2014 4:29 pm
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: Another take on the "rebalancing bonus"

That Sharpe ratio is your "rebalancing bonus". In Bernstein's original analysis, the rebalancing bonus was defined as excess return, compared to the weighted average return, not risk-adjusted return. There's no bonus explanation here. You get the same result by investing 100% in a lower v...
by Browser
Wed Apr 16, 2014 1:00 pm
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: Another take on the "rebalancing bonus"

I used Simba to look at the returns of a two-asset portfolio (50% S&P 500/50% 5 yr Treasurys) over 20-year rolling return periods beginning in 1972. For 12 of the 23 periods, not rebalancing resulted in higher annual and terminal compound returns, and 11 favored annual rebalancing. About as clos...
by Browser
Wed Apr 16, 2014 10:47 am
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: U.S. stocks in freefall

One of these days, this thread will get bumped and the market will drop 20%. You just have to keep the faith that owning stocks will make you cry and feel really, really stupid sooner or later......
by Browser
Wed Apr 16, 2014 1:12 am
 
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 742
Views: 122400

Re: Another take on the "rebalancing bonus"

I believe that David Swenson , managing the Yale endowment assets, rebalances daily and he`s really well versed. I am not David Swenson, but I convinced myself years ago that continuous rebalancing is fine. So, I am invested in Vanguard LifeStrategy Moderate, they rebalance for me. L. I think it's ...
by Browser
Wed Apr 16, 2014 1:07 am
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: heartbleed - widespread internet security problem

I think the net effect of the heartbleed bug is to convince me that the internet is full of security holes and you are risking your financial security by transacting on it. That's a lingering background suspicion that I think many consumers have had forever, and now we know it's factual. The impact ...
by Browser
Wed Apr 16, 2014 1:01 am
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: heartbleed - widespread internet security problem

Heartbleed hackers have probably already stolen the security encryption keys for hundreds of websites and have and will be able to exploit this going forward. Seems like it's pretty easy to do. Very few sites have changed their possibly compromised keys, so we can expect more Targets down the road....
by Browser
Tue Apr 15, 2014 8:52 pm
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: Another take on the "rebalancing bonus"

people confuse this issue all the time, in fact most of the time should expect rebalanced portfolios (of balanced stock and bonds) will UNDERPERFORM because most of time you are selling the high expected returning asset class to buy the lower expected returning one, lowering the expected return of ...
by Browser
Tue Apr 15, 2014 3:51 pm
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: heartbleed - widespread internet security problem

Heartbleed hackers have probably already stolen the security encryption keys for hundreds of websites and have and will be able to exploit this going forward. Seems like it's pretty easy to do. Very few sites have changed their possibly compromised keys, so we can expect more Targets down the road. ...
by Browser
Tue Apr 15, 2014 3:23 pm
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Another take on the "rebalancing bonus"

Dr. Bernstein investigated the effect of portfolio rebalancing some 18 years ago as documented in this article: http://www.efficientfrontier.com/ef/996/rebal.htm Michael Edesess revisits Dr. B's study in this article: Does Rebalancing Really Pay Off? It's an interesting read, which concludes that Dr...
by Browser
Mon Apr 14, 2014 9:51 pm
 
Forum: Investing - Theory, News & General
Topic: Another take on the "rebalancing bonus"
Replies: 63
Views: 3511

Re: U.S. stocks in freefall

Hope for a freefall. The worst thing that could possibly happen is if the market keeps going up -- it's already hugely overvalued with low expected returns. Freefall! Freefall!
by Browser
Sat Apr 12, 2014 11:23 am
 
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 742
Views: 122400

Re: heartbleed - widespread internet security problem

Based on the explanation of the bug, I can't believe the idiot programmers allowed it in the first place. Presumably, the code simply used the byte length entered into the heatbeat packet sent to the server and then returns that amount of data from the server, rather than checking the actual length ...
by Browser
Sat Apr 12, 2014 11:19 am
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: U.S. stocks in freefall

Gosh darn it all, made me look. The percentage of stocks in my portfolio is 0.8% below my target which if memory serves is maybe 0.2% to 0.4% below where it was a few months ago. Vanguard's portfolio analysis tool is saying "OK--Your current asset allocation closely matches your long-term targ...
by Browser
Fri Apr 11, 2014 2:12 pm
 
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 742
Views: 122400

Re: The case against small cap value

Probably a good idea to spread your bets around: some bonds, some commodities, some gold, some real estate, some baklava, even some stocks. My guess is that splitting the stock portion into yellow, blue, and orange stocks won't have the bang of splitting between stuff that is from different species....
by Browser
Fri Apr 11, 2014 1:26 pm
 
Forum: Investing - Theory, News & General
Topic: The case against small cap value
Replies: 53
Views: 5126

Re: heartbleed - widespread internet security problem

I noted that TIAA-CREF put a statement right on their homepage, easily visible, that their site is not vulnerable to heartbleed. I searched in vain to find such a readily visible declaration at Vanguard and many other sites of interest to me. Why? It really irks me that this is not being posted imm...
by Browser
Fri Apr 11, 2014 12:33 pm
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: heartbleed - widespread internet security problem

I noted that TIAA-CREF put a statement right on their homepage, easily visible, that their site is not vulnerable to heartbleed. I searched in vain to find such a readily visible declaration at Vanguard and many other sites of interest to me. Why? It really irks me that this is not being posted imme...
by Browser
Fri Apr 11, 2014 11:30 am
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: heartbleed - widespread internet security problem

Oh, BTW, I installed a Chrome extension called Chromebleed that checks websites you surf to for the vulnerability. It just warned when I brought up ETF.com (AKA, IndexUniverse.com) where Larry, Rick, and others often post. I checked it with Symantec's SSL toolbox and sure enough it's bugged. I don't...
by Browser
Thu Apr 10, 2014 10:56 pm
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: U.S. stocks in freefall

Agreed. This 5 year engineered bull market has been no friend of long term accumulators who have had to buy at higher and higher prices. Be much better off for these folks if the market had stayed in purgatory for the last five years. Be careful what you wish for.
by Browser
Thu Apr 10, 2014 10:41 pm
 
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 742
Views: 122400

Re: heartbleed - widespread internet security problem

It gets worse. Now the word is that the heartbleed bug can affect network and internet architecture as well, including your home router, firewall, and VPN. So, even if your favorite website has fixed it's servers your secure information might still be compromised as it is travelling through the web ...
by Browser
Thu Apr 10, 2014 10:36 pm
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: U.S. stocks in freefall

No catalyst for today's 3% mugging of the Nasdaq. That's how it happens -- the efficient market decided that yesterday's efficiency was way wrong. The EMH fairy forget to send out a memo.
by Browser
Thu Apr 10, 2014 9:09 pm
 
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 742
Views: 122400

Re: Vanguard website & Heartbleed security flaw

You can check here: https://ssltools.websecurity.symantec.com/checker/views/certCheck.jsp Vanguard.com is not vulnerable. Just ran this to check a credit union website I use and got the warning that the certificates were installed in the wrong order and should be re-installed. What is this all abou...
by Browser
Thu Apr 10, 2014 9:06 pm
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: heartbleed - widespread internet security problem

Qualsys SSL Labs website gives a more detailed report of website security: Vanguard: grade A- https://www.ssllabs.com/ssltest/analyze.html?d=vanguard.com -- RC4 cipher is used with TLS 1.1 or newer protocols, even though stronger ciphers are available. Grade reduced to A-. -- The server does not sup...
by Browser
Thu Apr 10, 2014 2:26 pm
 
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 16144

Re: PenFed v. Truecar v. BJs v. Costco auto buying

Try Carbargains (link below), which contacts 10-12 dealers in your area on your behalf for quotes. http://www.checkbook.org/auto/carbarg.cfm The advantage is that because you have paid for the service, the dealer knows you're a serious buyer, rather than a window shopper. With my most recent car pu...
by Browser
Sun Mar 23, 2014 11:00 am
 
Forum: Personal Consumer Issues
Topic: PenFed v. Truecar v. BJs v. Costco auto buying
Replies: 16
Views: 1785

Re: Another Roku question

Just got a Roku and have it connected wirelessly to my wireless router. Works fine.
by Browser
Sat Mar 22, 2014 3:21 pm
 
Forum: Personal Consumer Issues
Topic: Another Roku question
Replies: 6
Views: 838

Friend charged for inbound VOIP telephone calls?

I have an Obi 100 VOIP device that is set up to make free long distance calls using Google Voice. I have made several long distance calls to my friend using the Obi and she just got a monthly bill that charged her 30 cents per minute for all those calls. She has a landline with CenturyLink with a 30...
by Browser
Fri Mar 21, 2014 8:14 pm
 
Forum: Personal Consumer Issues
Topic: Friend charged for inbound VOIP telephone calls?
Replies: 1
Views: 274

Re: "Gold to tank in 2014: Goldman Sachs"

I see from that article that the same guy at Goldman, Jeffrey Currie, is now saying gold will retreat to $1,000 so he's apparently doubled down. A wizard. Guess it's time to buy more.
by Browser
Fri Mar 21, 2014 11:15 am
 
Forum: Investing - Theory, News & General
Topic: "Gold to tank in 2014: Goldman Sachs"
Replies: 94
Views: 6823

Re: Anyone experienced problems with Honda V-6 VCM engines?

Why would anyone that keeps their vehicles for a long time want to buy one of the vehicles with VCM issues. Does the fact that the engine might fail and throw a code that Honda will deem "claim worthy" matter if you're in the middle of Death Valley? Not much to me Exactly. Why would anyon...
by Browser
Fri Mar 21, 2014 11:08 am
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: "Gold to tank in 2014: Goldman Sachs"

After a 28% price plunge in 2013, the worst since at least 1984, analysts weren’t expecting much from gold this year. Many big banks were forecasting average 2014 prices below $1,300 an ounce, down from last year’s average of $1,413. But the precious metal has already managed to outperform U.S. sto...
by Browser
Fri Mar 21, 2014 10:07 am
 
Forum: Investing - Theory, News & General
Topic: "Gold to tank in 2014: Goldman Sachs"
Replies: 94
Views: 6823

Re: William Bernstein-When you've won the game, why keep pla

I think "winning the game" may be the functional equivalent of Larry's "Plan B". You have a retirement portfolio allocated in a certain way from which you plan to take targeted income withdrawals. If things work out, stocks don't tank, and things seem to be on track great. But if...
by Browser
Fri Mar 21, 2014 9:57 am
 
Forum: Investing - Theory, News & General
Topic: William Bernstein-When you've won the game, why keep playing
Replies: 241
Views: 24973

Re: Anyone experienced problems with Honda V-6 VCM engines?

Thanks for that information about Truecar pricing. You say you originally contacted these dealers through Truecar and they came in with lower prices? That might be a good way to get the bidding going. Good luck with your Odyssey. My cousin has owned a couple post-2008 Odysseys and has never had prob...
by Browser
Fri Mar 21, 2014 9:48 am
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: Alert. Scam with callers posing as IRS agents...

Notice to Posters: You are all in violation of IRS regulation 100-13x-0020-6. If you do not immediately forward a penalty fine in the amount of $1,000 to the Bank of Scam, Cayman Islands, we will send wild dogs to your residence to bite the heads off your chickens. This is your last warning.!!!
by Browser
Thu Mar 20, 2014 10:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Alert. Scam with callers posing as IRS agents...
Replies: 29
Views: 1796

Re: Anyone experienced problems with Honda V-6 VCM engines?

Having just purchased a 2014 Odyssey with the V-6 VCM last week, this is all just a bit disconcerting. I haven't been able to determine if there were any changes made by Honda to address this issue for the 2014 models. I was shocked by how much they were discounting the Odyssey - almost $5000 off M...
by Browser
Thu Mar 20, 2014 10:37 pm
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: Anyone experienced problems with Honda V-6 VCM engines?

You mean just Honda Pilots, correct? Again, the VCM problem has not been an issue with any other models but Pilot and RDX. OscarGuy, a US District Court says otherwise: http://www.autonews.com/article/20131022/OEM11/131029975/american-honda-settles-class-action-suit-over-oil-burning-claim http://ww...
by Browser
Thu Mar 20, 2014 6:19 pm
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: Anyone experienced problems with Honda V-6 VCM engines?

...if I had to pay for the major engine work I would probably have a different opinion. But there is a simple alternative. I would just replace the spark plugs every 25,000 miles and not do the repair. It would be great if it were that easy, and for some owners it may be. For others the VCM problem...
by Browser
Thu Mar 20, 2014 11:29 am
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: Does the "invoice" car price mean anything?

Found this article which pretty much confirms my suspicions -- invoice price is just a red herring. Means nothing anymore. What's worse is the sites like Truecar are basically providing bogus information. One key point: What once was the holy grail of in-the-know deal-seekers — uncovering the dealer...
by Browser
Thu Mar 20, 2014 10:33 am
 
Forum: Personal Consumer Issues
Topic: Does the "invoice" car price mean anything?
Replies: 23
Views: 1860

Re: Anyone experienced problems with Honda V-6 VCM engines?

OCTOBER 22, 2013 UPDATE: American Honda has agreed to a class-action lawsuit which accuses the manufacturer of producing 1,593,755 vehicles that excessively burn oil and need frequent spark plug changes. As part of the settlement, Honda will extend the powertrain warranty on these models for eight ...
by Browser
Wed Mar 19, 2014 9:28 pm
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: Consumer Reports

Browser: I just received the April New Car Issue of Consumer Reports . They do not recommend the "Honda Accord EX_L(V6)" primarily because of "Predicted reliability." The Honda LX (4-cyl) is recommended--topped only by the Toyota Camry in the "midsized sedans" category...
by Browser
Wed Mar 19, 2014 9:20 pm
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: Anyone experienced problems with Honda V-6 VCM engines?

If it were just a matter of fouled plugs, I don't think I'd be too concerned. However, in some Honda vehicles with that V-6 there are reports of high oil consumption, plug and valve fouling, shudder or vibration and noise apparently related to the engine running on just 3 or 4 cylinders. I would be ...
by Browser
Wed Mar 19, 2014 8:39 pm
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: William Bernstein-When you've won the game, why keep pla

While that's true, the guy retiring in 2009 can make the case that his SWR should be 6-8% since it WOULD HAVE been worth 25-50% more (assuming 60-40 to 40-60 allocation) a year before. This is where SWR "science" breaks down. And where valuations matter. In the real world, it's a bit of c...
by Browser
Wed Mar 19, 2014 8:31 pm
 
Forum: Investing - Theory, News & General
Topic: William Bernstein-When you've won the game, why keep playing
Replies: 241
Views: 24973
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