Bogleheads.org

I've always found it more useful (and positive) to focus on my own weaknesses rather than revel in someone else's flaws. I have no need or desire to feel superior. "For with what judgment ye judge, ye shall be judged: and with what measure ye mete, it shall be measured to you again." Lev

Page and the surrounding areas are wonderful and beautiful. Yes, by all means only do a slot canyon with a Navajo guide. They will also be a great help with taking pictures from fantastic angles. The float from the bottom of the Glen Canyon dam is peaceful and beautiful. Usually, you eat lunch on th...

As you know, Victoria, inventory changes constantly. I think Consumer Reports recommends the best shopping for fares is on Tuesday and Wednesday. I hope you don't fly United overseas, as we recently did. The seats were designed by the Marquis de Sade! Service is awful. Thankfully, we flew home on Lu...

The bravest people I've seen (some from family) are those dealing with terminal illness and yet affirming life.

Service in the military is overrated.

Lev

" Are there flaws with this plan " Seriously, there are flaws--unknown unknowns--in every plan . When we think about it we always live in the midst of uncertainty. If you need to pull the trigger, do it. If you can wait (especially with young children), it might be best to wait. Whatever y...

"I am an inert mound of calm certitude."

Excellent!

The Buddha awaits.

http://www.burmese-art.com/old-happy-bu ... rma-2423-1

Lev

Yes, livesoft's response is behaviorally astute:

"So "simplicity" is another way of saying "overcoming behavioral biases and mental accounting"



Lev

"OK, so what is the explanation for using Wellesley instead of Large Value and Corporate Bond indices or funds?"

Simplicity.

Lev

Steve, I don't own both funds, but I am quite familiar with the very human phenomenon of playing some version of both ends against the middle. If someone is happy owning both funds, what should it matter to me or thee? Also, I've lived long enough to realize that human beings are not automatons. Not...

" People hold Wellesley because of past performance. " The only thing that should be "ridiculed" is a blanket statement without a shred of supporting evidence. Here's a start: write Vanguard and ask the company to provide information regarding the average holding period of Welles...

It was a perfectly rational and responsible presentation.

Funny how some funds have been consistently "lucky."

Some of us are really quite happy to hold a combo of LLCA (Lucky Low Cost Active) and index.

Lev

Pennstater:

No change whatever here.

Berkshire-Hathaway is the equivalent of an endowment.

I'm an individual.

Lev

Mr. Leesboro says "Huh," and I says how does one pass muster with insurance commissioners using equities with all those insurance subsidiaries? http://en.wikipedia.org/wiki/List_of_assets_owned_by_Berkshire_Hathaway http://www.brkdirect.com/spia/ezquote.asp http://www.brkdirect.com/message...

"No, that's his thing forever."

Not for his insurance company.

Lev

Well, let's get straight what Buffett said, not that it matters a bit to me. 1. He focused on long-term bonds. 2. He characterized those long-term bonds as a poor investment . Is this surprising? He got no more specific than that with respect to bonds. He's keen on equities. That's his thing right n...

As it turns out, Morningstar has recently released a piece on LTCI, among other things. http://news.morningstar.com/articlenet/article.aspx?id=591803 What I find most interesting is the Employee Benefit Research Institute Retirement Confidence Survey dated March 2013 cited in the essay. The decrease...

My sincere congratulations.

This sounds like a book that matters.

Were I in Seattle, I would surely attend the reading.

Lev

Owl, I am not trying to put you on the defensive, but please look at the discussion of TIAA Traditional (e.g., its history of crediting rates) in the following link: http://www.tiaacrefinstitute.org/ucm/groups/content/@ap_ucm_p_tcp_docs/documents/document/tiaa02029460.pdf TIAA Traditional also provi...

Hi Kersten, I see this your first post here. Should we assume you have both TIAA and Vanguard investments? I only ask because if you are trying to integrate both, you can do either one or both of the following: use the TIAA 360 degree Financial View function from within the account or use the Vangua...

Bonds?

Every bond is overvalued?

Is that the lesson coming from the experts?

Welcome to the madhouse.

Lev

Warren Buffett: "Never ask a barber if you need a haircut."

Jim Montier: "One of the most supported findings in psychology is that experts are generally even more overconfident than the rest of us."

Lev

Scooter,

I sorta admire a good many people--some of them even investment professionals.

But I try to make responsible decisions based on my judgment, not the judgment of others.

Owning your own decisions is a wonderfully liberating experience.

Lev

"Boy when all these professionals that you admire are changing their advice from Mr. Bogle's age in bonds, it's getting harder and harder to Stay the Course" So when Ellis talks, he's somehow superior to all the other talking heads. Is that it? All the others are investment porno, but Ell...

"So it should come as a wake up call to all bogleheads" Free for nuthin' I'm gonna give you a wake up call. The advice from "experts" ain't worth the paper it's printed on. How do you know it ain't voodoo advice? Hit the snooze button and catch some more zzzzzssss. Five years fr...

For those who are as old-fashioned as I am.

https://www.tiaa-cref.org/public/pdf/advice-planning/tools-calculators/A125820_budgeting_worksheet.pdf

Served me mighty well for many years.

Lev

Here's a link to an exemplary health group I've dealt with.

Not only are they highly regarded, but they are wonderfully transparent.

Take a look.

http://www.spectrumhealth.org/AveragePrices

Lev

Victoria asked an important question about world rates of dementia. Despite Japan's high life expectancy rate, the country has a very low rate of dementia. Here's the info I was able to find. http://www.worldlifeexpectancy.com/cause-of-death/alzheimers-dementia/by-country/ I'm sure there are many fa...

" An aging spouse with more intact mental functioning may be terrified of being left alone and fear that letting anyone know that their spouse is deteriorating will result in their being removed to a nursing home--whether or not this is true. So they may cover for the spouse and keep family and...

"In my opinion, any investor who does not plan for the day they are unable to handle their financial affairs (and the day will come) is guilty of gross negligence against those they love." Yes in thunder! I'm 70 and most everything is already on some form of autopilot--annuity income, soc...

"The most risky venture ever devised has to be cash"

Wow!

Not in my world.

Cash talks--and I mean talks with power in a world of venues.

Thanks Bobcat for the post. It's pretty obvious to me that one kind of adviser pretty much dominates the thinking at this site.

Lev

Are you referring to Chase Sapphire ? Mine is a VISA Signature. It's terrific. Have used it repeatedly for dining and travel, and the travel website (using miles) offers some excellent deals. Will be my CC card of choice for upcoming overseas travel. Service has been excellent. Lev P.S. 7% annual bo...

See section B6 of the following link.

http://www1.tiaa-cref.org/ucm/groups/content/@ap_ucm_p_tcp_docs/documents/multimedia/tiaa01008860.pdf

Lev

"I would think the new TR Income fund would complement Wellesley Income fund nicely."

Yes.

And that's precisely why the original question poses a false choice for a number of people, including me.

Lev

" Now, I've had Wellesley for years and like it alot. But what William J. Bernstein says above causes me to reconsider ." No disrespect to you or BB, but if you are prepared to abandon a position based on one person's opinion you are playing with a weak hand. Although I read with interest ...

24 hours in a day, Victoria.

Lev

Important post, in my view. John Bogle favors floating NAV. Vanguard does not. Lev Edit: John Bogle's view-- Bogle doesn't see it that way. He was interviewed by phone from the Bogle Financial Markets Research Center, a Vanguard-financed think tank that Bogle heads at the fund company's headquarters...

Caltech mission statement: http://www.caltech.edu/content/mission-priorities Yes, I chose from the best because there's a reason they are and will continue to be among the best. I'm sorry to hear of your disappointing experience, Keith. It does not square with my experience or the experience of exte...

I give high marks to Scott Burns for remembering his Jane Austen and how astute she was in her novels about wealth. Since Burns mentions Darcy (Pride and Prejudice ), here's a breakdown of spending power comparisons up to 2008. http://janeaustensworld.wordpress.com/2008/02/10/the-economics-of-pride-...

"I told him that many colleges and universities have course studies in Neuroeconomics and how important just the awareness of such subject matter was to anybody living in the real world" "EyeYield, a barrier you face is that there is virtually no incentive for academics to collaborat...

If you have a balanced portfolio, you are much less likely to succumb to the swings of fear and greed. I saw the article and shook my head. It's incredibly familiar. Mr. and Mrs. are both doctors, both earn a good wage, both with many years left in their careers, and they live in an area (Houston) t...

BruDude,

Thanks much for the link to the JH statement.

Lev

I had the show on my calendar (1 pm EST) and then got distracted. :oops: Anyway, wasn't it supposed to be Ken Volpert discussing fixed income? If so, I find it hard to believe he would comment on "bonds" without telling you exactly whether he was speaking of treasuries, corporates, high yi...

The fog of financial planning

Rick (seriously)--this should be the title of your next book.

"No man ever steps in the same river twice, for it's not the same river and he's not the same man."

Lev

"Since inception"

Use of this term may be inadvertently misleading since inception dates vary.

Lev

Balanced Index Admiral class, Munir.

Lev

Can't say I have followed my ER closely. It's just that this a.m. a yellow band ran along the top of my account making said pronouncement. Never appeared before.

Lev

Just lowered its ER by 1/3--from 0.15 to 0.10.

Nice morning greeting in my account.

Lev

"actively managed balanced fund"

More like Active Lite.

Lev

"More people wanted to buy than wanted to sell"

Phew.

I was afraid someone was gonna say "risk off."

Lev

"I know Bogleheads by nature are not "competitive". That is, we are rational when we approach investing ." Yes, of course. All Bogleheads are above average. :wink: But tell me how you know this. Do you know the observation: " Men discourse like angels and live like men .&qu...