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Re: Investors Pour Into Vanguard, Eschewing Stock Pickers

" if Vanguard didn't have any of its index funds it would still be a substantial mutual fund company" Indeed. If you add the AUM of just seven Wellington managed funds--Div Growth, Equity Income, GNMA, Healthcare, HY Corporate, Wellesley, and Wellington--you will see a total quite near $25...
by Levett
Thu Aug 21, 2014 2:59 pm
 
Forum: Investing - Theory, News & General
Topic: Investors Pour Into Vanguard, Eschewing Stock Pickers
Replies: 65
Views: 5035

Re: Subaru Blues

Hiker NC wrote: " A tip on buying: once you test-drive the Subaru and decide what model and options you like, email all the Subaru dealers anywhere near you and invite them to bid on the car you want, listing the exact optional equipment you want. Then sit back in your den and wait for their &q...
by Levett
Thu Aug 21, 2014 10:22 am
 
Forum: Personal Consumer Issues
Topic: Subaru Blues
Replies: 59
Views: 4030

Re: Investors Pour Into Vanguard, Eschewing Stock Pickers

" Eschew ." Now that's how I like to start my day! I can chew on that one. ;-) RE Pingo's comment--e.g., " contest inside of me between the enthusiast and the contrarian ." My solution remains to divide the risk portfolio between Active Lite and Index. I, too, get twitchy about V...
by Levett
Thu Aug 21, 2014 7:26 am
 
Forum: Investing - Theory, News & General
Topic: Investors Pour Into Vanguard, Eschewing Stock Pickers
Replies: 65
Views: 5035

Re: Is a 16% expense ratio technically possible?

A fool and his money are soon parted.

Lev
by Levett
Mon Aug 18, 2014 7:43 pm
 
Forum: Investing - Theory, News & General
Topic: Is a 16% expense ratio technically possible?
Replies: 15
Views: 1479

Re: Would you buy these funds that were recommended?

"He just gave us a selling point"

Yes.

That's what they do.

Lev
by Levett
Mon Aug 18, 2014 5:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Would you buy these funds that were recommended?
Replies: 30
Views: 1417

Re: 'Risk Creep' - new term

Good catch on FDIC, Valuethinker. Here's some more from the FDIC Wiki. "Full Faith and Credit"[edit] In light of apparent systemic risks facing the banking system, the adequacy of FDIC's financial backing has come into question. Beyond the funds in the Deposit Insurance Fund above and the ...
by Levett
Sun Aug 17, 2014 8:09 am
 
Forum: Investing - Theory, News & General
Topic: 'Risk Creep' - new term
Replies: 26
Views: 2162

Re: When did you downsize?

Lots of thoughts, but I'm not much help. Test drove condos during the winter but seeing friends and grandchildren in the house and around the pool (a bit of a pain to be sure) still not ready to give in. Looks like "aging in place," and eventually more hired help. :annoyed I wish you a goo...
by Levett
Thu Aug 14, 2014 4:10 pm
 
Forum: Personal Consumer Issues
Topic: When did you downsize?
Replies: 35
Views: 3239

Re: Grade Vanguard's performance: is 77% an A?

Frankly, I think VG publishing this "stuff" is a distraction. I have my own goals. If my Vanguard choices meet those goals, I'm happy. I don't care about Vanguard's peers. I do understand that Vanguard, like any other fund company, is always fishing for new business. Sell the sizzle doesn'...
by Levett
Thu Aug 14, 2014 11:08 am
 
Forum: Investing - Theory, News & General
Topic: Grade Vanguard's performance: is 77% an A?
Replies: 10
Views: 740

Re: three reading recommendations

Montier's book, which came out in 2010, is indeed bracing. One might begin on p. 174--the section entitled "The Dangers of Groupthink." He explicitly identifies 8 symptoms. And, echoing Robert Shiller, Montier expresses considerable skepticism about "academic finance"--e.g., (p. ...
by Levett
Wed Aug 13, 2014 5:54 pm
 
Forum: Investing - Theory, News & General
Topic: three reading recommendations
Replies: 11
Views: 1826

Re: MAGI for Medicare Rates

" Sscritic is saying that this country penalizes taxpayers who legally receive a higher income by raising the rate of Medicare payments. How progressive." Is that what Sscritic said? I'm sure he will confirm or deny or expand. :wink: The missus and I pay IRMAA. We don't feel abused. We fee...
by Levett
Tue Aug 12, 2014 7:39 am
 
Forum: Personal Finance (Not Investing)
Topic: MAGI for Medicare Rates
Replies: 36
Views: 1800

Re: Robin Williams

A creative genius. An American treasure.

Lev
by Levett
Mon Aug 11, 2014 8:00 pm
 
Forum: Personal Consumer Issues
Topic: Robin Williams
Replies: 42
Views: 4615

Re: is the S&P actively managed?

Pick your target fund, SS. Example: Vanguard Target Retirement 2030 Fund (VTHRX) **Derived by applying the fund’s target asset allocation to the results of the following benchmarks: for international stocks of developed markets, the MSCI EAFE Index through December 15, 2010, the MSCI ACWI ex USA IMI...
by Levett
Mon Aug 11, 2014 10:22 am
 
Forum: Investing - Theory, News & General
Topic: is the S&P actively managed?
Replies: 10
Views: 1287

Re: Understanding implications of Shiller CAPE on retirement

Nisiprius observed: " Right now, one of the things "everyone" is saying, the "sure thing" is that returns from both stocks and bonds will be far lower going forward than they used to be. " Then again the SEC boilerplate--e.g. " Past performance does not guarantee f...
by Levett
Sat Aug 09, 2014 2:03 pm
 
Forum: Investing - Theory, News & General
Topic: Understanding implications of Shiller CAPE on retirement
Replies: 27
Views: 2319

Re: What is "risk on, risk off" supposed to mean? Is it real

You might enjoy John Authers' take from the Financial Times.

http://lexicon.ft.com/Term?term=risk-on,-risk-off

Wait for the audio.

I rather suspect this is not what some folks had in mind. :wink:

Lev
by Levett
Fri Aug 08, 2014 1:55 pm
 
Forum: Investing - Theory, News & General
Topic: What is "risk on, risk off" supposed to mean? Is it real?
Replies: 7
Views: 639

Re: Who or what inspired you and your investing approach?

John Biggs (TIAA), John Bogle, John Neff (also Vanguard, but some may be too young to remember him!).

As for playing defense as a retiree, Mandelbrot for sure!

Lev
by Levett
Thu Aug 07, 2014 7:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Who or what inspired you and your investing approach?
Replies: 93
Views: 4280

Re: Will global entry or TSA Precheck help me?

"Maybe they were unusually backed up, and that probably varies by location ." Yes, it does vary by location. My wife and I applied for GE (we already had TSA Pre) because we travel overseas. The time between application and interview/approval was 2 weeks. Prior to the interview, I met som...
by Levett
Tue Aug 05, 2014 7:50 pm
 
Forum: Personal Consumer Issues
Topic: Will global entry or TSA Precheck help me?
Replies: 27
Views: 1684

Re: How old are you?

Now that nearly 400 votes have been cast I find the poll fascinating. Thanks for doing this.

Lev (one of the geezers :D )
by Levett
Thu Jul 31, 2014 3:29 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: How old are you?
Replies: 77
Views: 6503

Re: Goodbye and Good Luck!

"I have reached a zen-like calm"

Well done, Jason

Enjoy your family and new home.

Have a great life.

Lev
by Levett
Tue Jul 29, 2014 7:45 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Goodbye and Good Luck!
Replies: 12
Views: 2520

Re: Do Bogleheads Feel Wealthier?

I certainly believe a "wealth effect" exists (whether in fact or simply psychologically), but I sure don't feel "wealthier" simply by posting at any financial website.

I find the question both revealing and odd. :confused

Lev
by Levett
Tue Jul 29, 2014 12:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads Feel Wealthier?
Replies: 57
Views: 4641

Re: Annuities and asset allocation

"If instead of an annuity, one laddered CDs or TIPS for the duration of their life expectancy, I think most people would view that as fixed income and not a pure income stream" Yes, I would, because I can liquidate either in an instant. But see if you can "cash out" of an SPIA o...
by Levett
Mon Jul 28, 2014 7:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Annuities and asset allocation
Replies: 32
Views: 1539

Re: Annuities and asset allocation

dbr said: "Why not call an income stream an income stream."

That's what I do.

Ditto Social Security.

Lev
by Levett
Mon Jul 28, 2014 4:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Annuities and asset allocation
Replies: 32
Views: 1539

Re: Vanguard sued for charging too little

dodecahedron,

I appreciate your commentary, especially being both a TIAA-CREF and VG investor. :wink:

Lev
by Levett
Sun Jul 27, 2014 11:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard sued for charging too little
Replies: 173
Views: 19174

Re: Old people and financial advisors - a family tale

" Old people. What can you do ?" That's just a silly generalization. Maybe I should counter: " Younger people--what do they really know ." You saw but didn't observe. He's a lonely man (widower), possibly cognitively impaired, and has been befriended (exploited?) by a trusted adv...
by Levett
Sat Jul 26, 2014 3:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Old people and financial advisors - a family tale
Replies: 75
Views: 5692

Re: Vanguard quietly adds longevity annuities

Thank you for bringing this up, Nisi. I have no interest in a longevity annuity, but lacking your delicacy I would use somewhat stronger language than "disappointing" to describe my response to the product. :twisted: I sure hope folks who jump at these puppies understand the risk they are ...
by Levett
Sat Jul 26, 2014 9:18 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 85
Views: 6786

Re: Q&A with the Experts at 2014 Bogleheads Conference

Re the target date funds, here's what a principal at Vanguard said that may offer a clue: http://vanguardadvisorsblog.com/2013/11/13/smart-beta-tilts-bets-and-active-strategies/ One sentence, in particular, jumps out at me: "I still think deviations from a traditional index should be thought of...
by Levett
Mon Jul 21, 2014 9:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Q&A WITH THE EXPERTS AT THE 2014 BOGLEHEADS CONFERENCE
Replies: 36
Views: 10402

Re: Value Overvalued

JPM believes in slice n' dice subsidiaries, as Senator Warren recently pointed out as she questioned Fed Chair Yellen. " Warren has some concerns regarding JPMorgan's living will, which she notes has been approved each of the last years. Compared to JPMorgan, Warren said Lehman was "tiny.&...
by Levett
Mon Jul 21, 2014 9:31 am
 
Forum: Investing - Theory, News & General
Topic: Value Overvalued
Replies: 23
Views: 2328

Re: A Romney Problem

Me. I paid my taxes.

Lev
by Levett
Fri Jul 18, 2014 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: A Romney Problem
Replies: 16
Views: 2042

Re: If You Can Free Kindle/NOT Free Paperback Available

"For years I've thought about an eleemosynary project to help today's young people invest for retirement because, frankly, there's still hope for them, unlike for most of their Boomer parents ." Really? Evidence? We do know that boomers, to a great extent, expect to work longer than the t...
by Levett
Fri Jul 18, 2014 7:28 pm
 
Forum: Investing - Theory, News & General
Topic: If You Can Free Kindle/NOT Free Paperback Available
Replies: 9
Views: 1799

Re: Jeremy Grantham pokes holes in EMH

Ah. But the man writes so well. He's a blast to read. ;-)

Lev
by Levett
Fri Jul 18, 2014 6:08 pm
 
Forum: Investing - Theory, News & General
Topic: Jeremy Grantham pokes holes in EMH
Replies: 16
Views: 2181

Re: Adding Corporates to Total Bond Market Index

"There just does not seem to be a safe harbor anywhere."

Indeed.

The New York Times has written about this in a piece called, "Welcome to the Everything Boom."

Sometimes the preservation of capital is a laudable objective.

Lev
by Levett
Fri Jul 18, 2014 4:34 pm
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6984

Re: To Tilt or Not to Tilt - Rick Ferri's Latest

Yes, Rick, has done an excellent job of advocating streamlined investing.

Lev
by Levett
Thu Jul 17, 2014 7:02 pm
 
Forum: Investing - Theory, News & General
Topic: To Tilt or Not to Tilt - Rick Ferri's Latest
Replies: 72
Views: 6700

Re: Ways to lose money and destroy personal wealth by invest

1. Not understanding who you are to begin with. As has been pointed out by many a writer, the markets can be an expensive place to find out who you really are. 2. Underestimating the value of compounding, even when rates seem "low." 3. Ditto for underestimating the value of reinvesting. 4....
by Levett
Thu Jul 17, 2014 10:44 am
 
Forum: Investing - Theory, News & General
Topic: Ways to lose money and destroy personal wealth by investing
Replies: 81
Views: 9546

Re: Very high interest rate in other countries? How come?

Richard commented: "If you are good at predicting exchange rates, you don't really have to worry about any of this, you can make your fortune trading currencies." This reminds me of the old joke that begins: "Do you know how to make a small fortune in trading currencies? " Answer...
by Levett
Thu Jul 17, 2014 8:14 am
 
Forum: Investing - Theory, News & General
Topic: Very high interest rate in other countries? How come?
Replies: 44
Views: 3280

Re: Very high interest rate in other countries? How come?

PJW noted: "as it is different currencies"

Funny how even some public pundits keep overlooking this. :oops:

Lev
by Levett
Wed Jul 16, 2014 7:14 pm
 
Forum: Investing - Theory, News & General
Topic: Very high interest rate in other countries? How come?
Replies: 44
Views: 3280

Re: University of British Columbia - Vancouver?

"you equate "cultural" to "socially liberal " Please don't give me credit for your ploy. "Liberal" may get misconstrued by the mods. Culture seems to be ok with the mods. All the best. :happy Lev P.S. Reading for your amusement. http://www.macleans.ca/news/canada/...
by Levett
Mon Jul 14, 2014 7:08 pm
 
Forum: Personal Consumer Issues
Topic: University of British Columbia - Vancouver?
Replies: 31
Views: 1864

Re: Financial Times Article on Vanguard.

Evangelism?!

I prefer advocacy.

Lev
by Levett
Mon Jul 14, 2014 7:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial Times Article on Vanguard.
Replies: 12
Views: 2704

Re: Knowledge gaps + anxiety = shame; gender and investing

P J Whoopee:
Sapir-Whorf.
Thanks for the walk down memory lane. :happy

Lev
by Levett
Mon Jul 14, 2014 4:45 pm
 
Forum: Investing - Theory, News & General
Topic: Knowledge gaps + anxiety = shame; gender and investing
Replies: 77
Views: 5663

Re: University of British Columbia - Vancouver?

And I have to chuckle at how "cultural" gets translated as follows: "my daughter is socially liberal." :)

Lev
by Levett
Mon Jul 14, 2014 4:41 pm
 
Forum: Personal Consumer Issues
Topic: University of British Columbia - Vancouver?
Replies: 31
Views: 1864

Re: Knowledge gaps + anxiety = shame; gender and investing

" Based on the winner effect, Germany is likely to win World Cup, because they must be loaded with testosterone after their spectacular scoring with Brazil." And, indeed, Germany did. 8-) Lev P.S. to Christine: the German keeper, Neuer, nearly beheaded an Argentinian. http://www.theepochti...
by Levett
Mon Jul 14, 2014 2:45 pm
 
Forum: Investing - Theory, News & General
Topic: Knowledge gaps + anxiety = shame; gender and investing
Replies: 77
Views: 5663

Re: University of British Columbia - Vancouver?

UBC has world-class standing--right there with UT, Austin. http://www.timeshighereducation.co.uk/world-university-rankings/2014/reputation-ranking One problem I see, as a retired academic, is far too many Americans are completely ignorant about Canadian universities (several members of extended fami...
by Levett
Mon Jul 14, 2014 12:27 pm
 
Forum: Personal Consumer Issues
Topic: University of British Columbia - Vancouver?
Replies: 31
Views: 1864

Re: Knowledge gaps + anxiety = shame; gender and investing

"I'll add that reducing women's perspective to a different color scheme is an insult."

It surely is.

Lev
by Levett
Sat Jul 12, 2014 6:56 pm
 
Forum: Investing - Theory, News & General
Topic: Knowledge gaps + anxiety = shame; gender and investing
Replies: 77
Views: 5663

Re: Merton: 401(k) retirement plans face crisis

"You cannot say wealth goals are approximate to income goals."

It's certainly not a great idea, but it is said all the time by a great many people. :wink:

Lev
by Levett
Sat Jul 12, 2014 1:30 pm
 
Forum: Investing - Theory, News & General
Topic: Merton: 401(k) retirement plans face crisis
Replies: 188
Views: 17518

Re: Retiring soon setting aside 3 years living expenses

dbr wrote: "I would be far more concerned about the robustness of the overall plan for finding income in retirement. If you are on such dicey ground that you are worrying about where you are going to find cash in the first three years, then I would say your plan needs more thinking." This ...
by Levett
Sat Jul 12, 2014 9:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Retiring soon setting aside 3 years living expenses
Replies: 49
Views: 5410

Re: Devaluation of the dollar scaring me more and more

As Larry has noted: "when the evidence shows there are no good forecasters"

That's what the evidence seems to show.

And yet.....the blather continues at an even greater pace thanks to the internet.

Silence is golden, but tweets prevail. ;-)

Lev
by Levett
Sat Jul 12, 2014 8:15 am
 
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 1742

Re: Life, Love, Happiness, and Bogleheads

"There are some things that count that can't be counted, and some things that can be counted that don't count."

Lev
by Levett
Fri Jul 11, 2014 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life, Love, Happiness, and Bogleheads
Replies: 11
Views: 1239

Re: What one Vanguard fund for retirement?

Have you ever seen this list that Vanguard considers its "select funds?"

https://investor.vanguard.com/mutual-funds/select-funds

Lev
by Levett
Wed Jul 09, 2014 9:31 am
 
Forum: Investing - Help with Personal Investments
Topic: What one Vanguard fund for retirement?
Replies: 12
Views: 2702

Re: POLL: How Old is Your Newest Motor Vehicle? -- REVISED

2011 Subaru Outback. Simply a superb automobile. :D

Lev
by Levett
Tue Jul 08, 2014 6:29 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: How Old is Your Newest Motor Vehicle? -- REVISED
Replies: 51
Views: 3065

Re: Retiring without any Direction

investingdad, I commend you for the clarity of your post. I say so as one who retired in his late 50s (after a very rewarding career) and is now in his early 70s. It's my observation that many people define their purpose by work alone and are ill-prepared psychologically for beginning another kind o...
by Levett
Mon Jul 07, 2014 12:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retiring without any Direction
Replies: 26
Views: 2115

Re: Dining table

"reformation hardware"

Did you mean Restoration Hardware? ;-)

Lev
by Levett
Sun Jul 06, 2014 3:21 pm
 
Forum: Personal Consumer Issues
Topic: Dining table
Replies: 20
Views: 1501

Re: Do Wellesley's Equities Outperform?

Here is Vanguard's Product Summary of Wellesley (this is what I meant when I previously mentioned "purpose"): Product summary Fund facts This 40 year-old, income-oriented balanced fund offers exposure to stocks and investment-grade bonds. Balanced funds typically offer a higher allocation ...
by Levett
Sun Jul 06, 2014 6:59 am
 
Forum: Investing - Theory, News & General
Topic: Do Wellesley's Equities Outperform?
Replies: 41
Views: 4877
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