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Re: First investment strategy meeting with new FA, $6M trust

Model Portfolio of FA: Sign %allocation ER% Turnover% TOLSX 7 1.24 132 GOBIX 6 0.72 59 FCBYX 5 0.59 50 SMGIX 5 0.66 47 FMSTX 5 0.77 77 OAKLX 5 1.01 24 PIMIX 5 0.45 251 SKIRX 4.5 1.16 93 HCOYX 4.5 0.87 236 ASRYX 4.5 1.01 63 SAGYX 4 0.87 2 NCIAX 4 0.87 76 SELSX 4 1.60 32 AVGRX 4 1.25 2 PCKPX 4 0.79 4...
by CyberBob
Fri Oct 17, 2014 1:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4462

Re: Buffett vs. Bogleheads

I've never heard him use the term "currency-based" investments before, and I think he has a purpose in writing that way. Its not just any old currency at any old time that he means for you to be thinking about. When he mentions 'currency-based' investments, it's not a particular currency ...
by CyberBob
Fri Oct 03, 2014 4:42 pm
 
Forum: Investing - Theory, News & General
Topic: Buffett vs. Bogleheads
Replies: 46
Views: 3808

Re: Buffett vs. Bogleheads

An interesting view from Warren Buffett on what risk isn't . (See Berkshire Hathaway 2011 Shareholder Lettter, page 16, "The Basic Choices for Investors and the One We Strongly Prefer" [PDF]). The riskiness of an investment is not measured by beta (a Wall Street term encompassing volatilit...
by CyberBob
Thu Oct 02, 2014 5:12 pm
 
Forum: Investing - Theory, News & General
Topic: Buffett vs. Bogleheads
Replies: 46
Views: 3808

Re: Buffett vs. Bogleheads

Buffett's reasoning behind the 10%, and a withdrawal rate comment, from his CNBC interview with Becky Quick: "You also revealed something in the annual letter this year, where you said, you laid out the terms of your will, what you’ve set aside for your wife. Which, I didn’t know any of this,” ...
by CyberBob
Thu Oct 02, 2014 2:08 pm
 
Forum: Investing - Theory, News & General
Topic: Buffett vs. Bogleheads
Replies: 46
Views: 3808

Re: total bond market index?

It's only available to other Vanguard funds. It's the same as the regular Total Bond, but was created to mitigate the impact of large-scale rebalancing on the regular Total Bond fund.

http://www.reuters.com/article/2009/01/ ... BW20090123
by CyberBob
Mon Sep 29, 2014 8:49 pm
 
Forum: Investing - Theory, News & General
Topic: total bond market index?
Replies: 2
Views: 493

Re: Money Makeovers - Are these legitimate stories?

Income=$4,300 (including pension and investment withdrawals)
Spending=$5,800

These stories generally simplify down to a pretty simple math problem solution (see above).
But I guess they're popular stories since many people see similar situations to their own.
by CyberBob
Mon Sep 29, 2014 1:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Money Makeovers - Are these legitimate stories?
Replies: 8
Views: 1371

Re: what is risk?

The riskiness of an investment is not measured by beta (a Wall Street term encompassing volatility and often used in measuring risk) but rather by the probability – the reasoned probability – of that investment causing its owner a loss of purchasing-power over his contemplated holding period. Asset...
by CyberBob
Sun Sep 28, 2014 1:37 am
 
Forum: Investing - Theory, News & General
Topic: what is risk?
Replies: 116
Views: 4366

Re: Can Active Fund Strategy Beat Vanilla Index Fund?

In the grand scheme of things, individual fund selection just isn't that important. You're not going to become wealthy, or fail to become wealthy, because of which stock fund you own (although, as mentioned above, you may want to own more than one stock fund to minimize manager risk). Picking stock ...
by CyberBob
Thu Sep 25, 2014 11:51 am
 
Forum: Investing - Theory, News & General
Topic: Can Active Fund Strategy Beat Vanilla Index Fund?
Replies: 25
Views: 1523

Re: Best cell phone plan for Verizon iPhone 5

Transferring contacts is easy. I just did it for someone five minutes ago. On your Android phone, go to your Contacts. Tap the menu button and tap 'export visible contacts' (or similar, depending on Android version). This will create a VCF (Virtual Card File)file which iPhone will easily import. Ema...
by CyberBob
Sat Sep 20, 2014 12:16 pm
 
Forum: Personal Consumer Issues
Topic: Best cell phone plan for Verizon iPhone 5
Replies: 12
Views: 1283

Re: Moshe Milevsky's Life Annuities Monograph

A nice complement to the Milevsky work might be Wade Pfau's paper An Efficient Frontier for Retirement Income First, the punchline: with a 4% withdrawal rate to meet lifestyle spending goals, a 65-year old heterosexual couple is best served by combinations of stocks and fixed single-premium immediat...
by CyberBob
Sat Sep 20, 2014 12:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Moshe Milevsky's Life Annuities Monograph
Replies: 21
Views: 2408

Re: Share your Hot-Rod Portfolio

Fiery Four-Corners

20% Vanguard Large-Cap Growth Index ETF(VUG)
20% Vanguard Large-Cap Value Index ETF (VTV)
20% Vanguard Small-Cap Growth Index ETF(VBK)
20% Vanguard Small-Cap Value Index ETF(VBR)
20% Vanguard Emerging Markets Index ETF(VWO)
by CyberBob
Sat Sep 13, 2014 4:00 pm
 
Forum: Investing - Theory, News & General
Topic: Share your Hot-Rod Portfolio
Replies: 55
Views: 4318

Re: Clean, quiet, safe and cheap. Is there such a travel pla

Iceland.
Although, since many of its attractions are outdoor/scenery related, most people visit in the summer rather than winter.
by CyberBob
Fri Sep 12, 2014 1:12 pm
 
Forum: Personal Consumer Issues
Topic: Clean, quiet, safe and cheap. Is there such a travel place?
Replies: 75
Views: 5811

Re: Angry when stock market is down

    Games are won by players who focus on the playing field – not by those whose eyes are glued to the scoreboard. If you can enjoy Saturdays and Sundays without looking at stock prices, give it a try on weekdays.
    -- Warren Buffett
by CyberBob
Fri Sep 12, 2014 12:47 pm
 
Forum: Investing - Theory, News & General
Topic: Angry when stock market is down
Replies: 79
Views: 4205

Re: Do you keep paper copies of your investment statements?

A common practice seems to be to keep the monthly statements only long enough to see if they agree with the quarterly statements, and then only keep the quarterlies until the annual statement. Then just keep the consolidated annual statements (in paper or electronic form -- or both), so that even af...
by CyberBob
Tue Sep 09, 2014 10:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you keep paper copies of your investment statements?
Replies: 33
Views: 1928

Re: Will Vanguard ever have a Total World Bond Index Fund?

Vanguard has had a global bond fund for years. It's just not available in the U.S.

https://www.vanguard.co.uk/uk/mvc/loadPDF?docId=2036
by CyberBob
Sun Sep 07, 2014 4:00 pm
 
Forum: Investing - Theory, News & General
Topic: Will Vanguard ever have a Total World Bond Index Fund?
Replies: 2
Views: 304

Re: Question on Buffet's recent investment advice

Based on his previous recommendations, I would say that he most definitely didn't mean munis, but rather treasuries. Good old full faith and credit treasuries. And 'short' is probably something along the lines of 1-year t-bills since he often implies that their use is as a cash proxy. He also has sa...
by CyberBob
Fri Sep 05, 2014 10:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question on Buffet's recent investment advice
Replies: 8
Views: 1749

Re: What's the riskiest Bogleheadish asset?

I mean something like the highest SD asset... To paraphrase Warren Buffett, volatility isn't risk. To more fully quote Warren Buffett: The riskiness of an investment is not measured by beta (a Wall Street term encompassing volatility and often used in measuring risk) but rather by the probability –...
by CyberBob
Fri Sep 05, 2014 10:11 pm
 
Forum: Investing - Theory, News & General
Topic: What's the riskiest Bogleheadish asset?
Replies: 81
Views: 7172

Re: Six-Figure Incomes—and Facing Financial Ruin [WSJ articl

$300,000 in credit card debt...after bankrupting $500,000 My first thought was Nisiprius' signature block from Charles Dickens 1850 book David Copperfield : "Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty po...
by CyberBob
Fri Sep 05, 2014 7:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Six-Figure Incomes—and Facing Financial Ruin [WSJ article]
Replies: 59
Views: 9479

Re: NE Ohio (Cleveland Area) Master Thread

Luke,

Welcome!

I just wanted to clarify that the meeting I mentioned above is not our regular NE Ohio Bogleheads meeting.
The next actual NE Ohio Bogleheads meeting is Saturday, October 18th at 10 a.m. at the North Royalton library, 5071 Wallings Road, North Royalton, OH 44133

Bob
by CyberBob
Thu Sep 04, 2014 11:42 am
 
Forum: Local Chapters and Bogleheads Community
Topic: NE Ohio (Cleveland Area) Master Thread
Replies: 25
Views: 2863

Re: William Sharpe advises against rebalancing

WS: All traded bonds and stocks in the world. What a great default investment that would be if it were really low cost. To my knowledge, it doesn’t exist. Here's a BusinessWeek article from 2006, In Search of a Global Index Fund , where they talk about basing a fund on the MSCI Global Capital Marke...
by CyberBob
Thu Sep 04, 2014 11:02 am
 
Forum: Investing - Theory, News & General
Topic: William Sharpe advises against rebalancing
Replies: 32
Views: 2695

Re: NE Ohio (Cleveland Area) Master Thread

Can't wait for the next NE Ohio Bogleheads meeting? I saw this in the Akron Beacon Journal today. Seems interesting. ETF Group to Meet The ETF Discussion Group for Investors, an Akron subgroup of the Cleveland American Association of Individual Investors Chapter, will meet from 9:15 to 11:30 a.m. Sa...
by CyberBob
Thu Sep 04, 2014 10:07 am
 
Forum: Local Chapters and Bogleheads Community
Topic: NE Ohio (Cleveland Area) Master Thread
Replies: 25
Views: 2863

Re: Inverse Convexity of TBM

Mortgage-backed bonds. When rates drop, people refinance, taking away your higher-yielding bonds. When rates rise, people don't refinance, meaning you're stuck with lower-yielding bonds. Basically, you're kind of hosed either way. It's only good when rates stay relatively flat. The intermediate-term...
by CyberBob
Thu Sep 04, 2014 9:52 am
 
Forum: Investing - Theory, News & General
Topic: Inverse Convexity of TBM
Replies: 13
Views: 595

Re: How do you keep your electricity bill low?

I just bought a new 70" tv. The sticker on the front says it uses $25 of power each year. That might be the best $2 I spend every month. TV's are more energy efficient, but apparently not cable boxes. The Los Angeles Times recently had an article about cable boxes being the second biggest ener...
by CyberBob
Wed Sep 03, 2014 11:23 pm
 
Forum: Personal Consumer Issues
Topic: How do you keep your electricity bill low?
Replies: 123
Views: 9395

Re: Surprising AA findings - comments?

Looking at the numbers in your table, it seems that Benjamin Graham had it right all those years ago when he advised that the relative allocation to stocks and bonds should be between 25% and 75% one way or the other.
by CyberBob
Wed Sep 03, 2014 12:11 pm
 
Forum: Investing - Theory, News & General
Topic: Surprising AA findings - comments?
Replies: 12
Views: 719

Re: No advantage of Slice and Dice vs 3Fund?

interesting.. Wellington (2/3 stock, 1/3 Bonds) did even better than the balanced fund. and it's ACTIVELY managed!? In a recent interview, Jack Bogle seems to say that Wellington isn't really very actively managed: In Wellington Fund's case, in the last decade 97% of its return has been determined ...
by CyberBob
Sun Aug 31, 2014 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: No advantage of Slice and Dice vs 3Fund?
Replies: 45
Views: 3614

Re: Total Bond Fund contains foreign Bonds?

Total Bond's holdings are actually yankee bonds, which, while issued by a non-U.S. entity, are still issued in the U.S. market and are denominated in U.S. dollars. Vanguard lists these as foreign bonds, so I guess they're going by the issuer in deciding the foreign-ness. But what about the market an...
by CyberBob
Sun Aug 31, 2014 5:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Total Bond Fund contains foreign Bonds?
Replies: 4
Views: 471

Re: Blog:Vanguard UK cuts fees on index tracker funds and ET

Barry's post mentions LifeStrategy funds. Interesting. I wonder what a U.K. LifeStrategy fund looks like? The first thing I noticed (looking at the 60% equity version), was that the U.K. fund held 17 other funds, compared to 4 in the U.S. version. And as for composition, Here in the U.S. we often ta...
by CyberBob
Sat Aug 30, 2014 11:50 pm
 
Forum: Investing - Theory, News & General
Topic: Blog:Vanguard UK cuts fees on index tracker funds and ETFs
Replies: 2
Views: 420

Re: Should elderly play it safe & risk not having enough or

(And I have them scouring their budget to see what costs they can cut, as they have a good pension, some annuities and social security, yet are still being forced to sell some stocks every year to make ends meet). What's wong with selling some investments? Or, to put it another way, what's the alte...
by CyberBob
Fri Aug 29, 2014 11:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should elderly play it safe & risk not having enough or no?
Replies: 17
Views: 2043

Re: iPod/iPhone speakers?

How about a pair of AudioEngine A2's? http://audioengineusa.com/Store/Powered-Speaker-Systems/A2-plus-B-Powered-Desktop-Speakers That link is for the A2+, which is similar to the A2 except it adds a USB input. I mention the difference because I've got a pair of new A2's sitting around that don't get...
by CyberBob
Fri Aug 29, 2014 10:18 am
 
Forum: Personal Consumer Issues
Topic: iPod/iPhone speakers?
Replies: 4
Views: 307

Re: Total International Bond Index Fund

AlwaysSkeptical wrote:?..why is Vanguard "pushing" this fund?

According to Vanguard's The new reality of international bonds, they are now the largest asset class, so probably just hard to ignore.
by CyberBob
Tue Aug 26, 2014 10:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Total International Bond Index Fund
Replies: 36
Views: 2798

Re: Received bank statements for a business using our addres

Should I call the bank? They'll become aware of the problem when they get the letter returned to them. According to the U.S. Post Office FAQ, the proper procedure is: If the mailpiece is delivered to the correct location but the recipient on the mailpiece does not reside at the address : Write &quo...
by CyberBob
Mon Aug 25, 2014 4:44 pm
 
Forum: Personal Consumer Issues
Topic: Received bank statements for a business using our address
Replies: 7
Views: 568

Re: 2014/2015 Honda Accord vs. 2014 Toyota Avalon

I really liked the new Avalon until I rented one the other day for work. Big like a boat. Numb driving, torque steers when you punch it. Just wasn't for me. My thoughts exactly. It's no fun to drive. I drove a Soviet bloc-made panel van in Turkey once. That was the least enjoyable vehicle I've ever...
by CyberBob
Fri Aug 22, 2014 7:24 pm
 
Forum: Personal Consumer Issues
Topic: 2014/2015 Honda Accord vs. 2014 Toyota Avalon
Replies: 54
Views: 5303

Re: Juice up your cash returns (!) [What do you consider cas

The idea of not holding cash as actual cash seems to be getting more popular as the time of 0.01% money market fund yields continues. Here's an idea that instead of holding actual cash, you hold a riskier stock/bond portfolio at 130% of your cash needs, to account for the increased volatility: Safet...
by CyberBob
Thu Aug 21, 2014 7:42 pm
 
Forum: Investing - Theory, News & General
Topic: Juice up your cash returns (!) [What do you consider cash?]
Replies: 11
Views: 2234

Re: Savings Percentage [rules of thumb]

Quick-reference chart from Wade Pfau article in the Journal of Financial Planning.

How much you should save for retirement, based on 139 years of data.

Bob
by CyberBob
Tue Aug 19, 2014 11:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage [rules of thumb]
Replies: 49
Views: 5592

Re: Bad(?) advice given about Target Date Retirement funds

Lately I have noticed the following (paraphrased) advice given about TD funds: For simplicity, invest in a TD fund but don't go by date, instead pick one with an AA that matches your risk tolerance. This seems to me to be bad advice because when you pick an AA you are also picking a glide path. If ...
by CyberBob
Mon Aug 18, 2014 12:15 pm
 
Forum: Investing - Theory, News & General
Topic: Bad(?) advice given about Target Date Retirement funds
Replies: 103
Views: 6611

Re: Is PIMCO Bond fund 50% cash?

Look up the holdings directly from PIMCO: https://investments.pimco.com/Products/Pages/346.aspx Sector Diversification (%) as of 07/31/14 US Government-Related1 45.00 Mortgage 20.00 US Credit2 12.00 Non-U.S. Developed 17.00 Emerging Markets 9.00 Other3 5.00 Money Market and Net Cash Equivalents4 -8....
by CyberBob
Sun Aug 17, 2014 11:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is PIMCO Bond fund 50% cash?
Replies: 26
Views: 2934

Re: WSJ: Is Your Portfolio Too Diversified?

The portfolio that generated the highest return over the 20-year stretch was the simple 70-30 mix of U.S. stocks and bonds...

I read an interesting book 20 years ago -- Bogle on Mutual Funds.
Bogle wrote that a simple 65/35 balanced fund would meet the needs of many investors.

Bob
by CyberBob
Sun Aug 17, 2014 11:11 am
 
Forum: Investing - Theory, News & General
Topic: WSJ: Is Your Portfolio Too Diversified?
Replies: 23
Views: 3424

Re: Debit VS Credit Cards Security

According to federal law, the Electronic Funds Transfer Act (EFTA), Electronic Fund Transfers (Regulation E) Section 1005.6 Liability of Consumer for Unauthorized Transfers 6(b)(3) limits your debit/ATM card liability if you report the issue within 60 days. And if you report it within 2 business day...
by CyberBob
Fri Aug 15, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Debit VS Credit Cards Security
Replies: 19
Views: 1549

Re: Mac Airbook

Laptop Magazine rates it as the best overall laptop: http://www.laptopmag.com/best-laptops One suggestion; forgo the mouse. The MacBook Air includes a trackpad that supports multiple types of gestures (sort of touch by proxy). When using a mouse, you'll lose these advantages (although an apple mouse...
by CyberBob
Wed Aug 13, 2014 10:16 pm
 
Forum: Personal Consumer Issues
Topic: Mac Airbook
Replies: 38
Views: 3321

Re: I got my invitation to open a wisebanyan account

Does WiseBanyan perhaps do other helpful things such as automated tax-loss harvesting?

Bob
by CyberBob
Tue Aug 12, 2014 8:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: I got my invitation to open a wisebanyan account
Replies: 5
Views: 766

Re: Copyright question

I second the Creative Commons recommendation. Maybe something like: https://i.creativecommons.org/l/by-nc-sa/4.0/88x31.png (Click for details) Of course, any kind of copyright, trademark, patent, etc. is only worthwhile to the extent you're willing to actually sue when someone infringes upon it. Bob
by CyberBob
Tue Aug 12, 2014 12:10 pm
 
Forum: Personal Consumer Issues
Topic: Copyright question
Replies: 27
Views: 1532

Re: x years of expenses

I don't think retirees need to hold anything in cash or to have an emergency fund. Stocks and bonds are fine , with bonds likely being a big part of the allocation. A lot of people would agree with you. I do. I wouldn't hold more than a year in cash. Certainly not seven years, as you'd be losing to...
by CyberBob
Sat Aug 09, 2014 6:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: x years of expenses
Replies: 10
Views: 1272

Re: ITOT vs FSTMX/FSTVX

Unlike ITOT, which is an ETF and is priced continuously, FSTMX is a mutual fund which is only priced once at the end of the day. It takes a bit after market-close to update, so you're likely looking at yesterday's quote. It's now showing +1.12%

Bob
by CyberBob
Fri Aug 08, 2014 5:48 pm
 
Forum: Investing - Theory, News & General
Topic: ITOT vs FSTMX/FSTVX
Replies: 3
Views: 364

Re: How many Accounts do you log into and how do you manage?

How many logins? 40
How do I manage? 1Password
What's the one password? Diceware generated

Bob
by CyberBob
Wed Aug 06, 2014 6:44 pm
 
Forum: Personal Consumer Issues
Topic: How many Accounts do you log into and how do you manage?
Replies: 52
Views: 2736

Re: Current Relevance of Short Term Bonds - Bill Bernstein Q

Morningstar interview; Bill Bernstein and fixed income: Bernstein: Well, first of all, there's a lot of concern about fixed income as you've already alluded to. People are worried that the returns are going to be low, and I think that's almost a mathematical certainty. If yields stay where they are ...
by CyberBob
Wed Aug 06, 2014 12:44 pm
 
Forum: Investing - Theory, News & General
Topic: Current Relevance of Short Term Bonds - Bill Bernstein Q
Replies: 11
Views: 1237

Re: Where to find Early Retirement Plan & Calculator

These calculators are all interesting in one way or another. But, as Yogi Berra said, "It's tough to make predictions, especially about the future." FIRECalc FinancialMentor Ultimate Retirement Calculator Flexible Retirement Planner Optimal Retirement Planner Vanguard Retirement Nest Egg C...
by CyberBob
Mon Aug 04, 2014 12:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Where to find Early Retirement Plan & Calculator
Replies: 5
Views: 854
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