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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: 96
Views: 6400

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: 66
Views: 3841

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: 73
Views: 4363

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 - Theory, News & General
Topic: Q&A with the Experts at 2014 Bogleheads Conference
Replies: 24
Views: 7792

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: 2232

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: 2017

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: 1749

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: 2153

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: 6517

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: 6579

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: 9215

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: 3200

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: 3200

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: 1738

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: 2679

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: 5452

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: 1738

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: 5452

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: 1738

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: 5452

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: 17040

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: 5240

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: 1705

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: 1198

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: 2667

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: 2997

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: 2052

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: 1484

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: 4811

Re: Who will be the Vanguard of the annuity world?

Nice post, ourbrooks. Thanks.

Lev
by Levett
Sat Jul 05, 2014 7:26 am
 
Forum: Investing - Theory, News & General
Topic: Who will be the Vanguard of the annuity world?
Replies: 27
Views: 3643

Re: Do Wellesley's Equities Outperform?

What those numbers show, Taylor, is the truth of what I earlier stated in this thread--namely: " Wellesley is Active Lite (see turnover) and its performance does, indeed, tell a "tale," though it's not a fund designed to "kick some tail." The 90s, as you know, were a period ...
by Levett
Sat Jul 05, 2014 7:17 am
 
Forum: Investing - Theory, News & General
Topic: Do Wellesley's Equities Outperform?
Replies: 41
Views: 4811

Re: Do Wellesley's Equities Outperform?

" Basically Wellington is the lowest cost and least bad option she has available and it has frankly done just fine over the past 10 years." That's one way of putting it. Another is that Wellington has, luckily, been one of the most consistently "lucky" investments in a great many...
by Levett
Fri Jul 04, 2014 6:07 am
 
Forum: Investing - Theory, News & General
Topic: Do Wellesley's Equities Outperform?
Replies: 41
Views: 4811

Re: Who will be the Vanguard of the annuity world?

I have been told by someone "in the know" at TIAA that an inflation-indexed annuity was proposed a number of years ago and obviously rejected.

Lev
by Levett
Fri Jul 04, 2014 6:02 am
 
Forum: Investing - Theory, News & General
Topic: Who will be the Vanguard of the annuity world?
Replies: 27
Views: 3643

Re: Do Wellesley's Equities Outperform?

Wellesley is Active Lite (see turnover) and its performance does, indeed, tell a "tale," though it's not a fund designed to "kick some tail." That's good enough for some of us. No reason for this to cause great consternation among those who index exclusively (I do so selectively ...
by Levett
Thu Jul 03, 2014 7:21 pm
 
Forum: Investing - Theory, News & General
Topic: Do Wellesley's Equities Outperform?
Replies: 41
Views: 4811

Re: House maintenance cost

" Thanks for any rules of thumb that you use . . . " Since a son-in-law asked me years ago, and since I've been a homeowner for more years than I can remember (on some days ;-)), here's my rule of thumb--there ain't no useful rule of thumb. Major expenses can strike from out of nowhere. An...
by Levett
Wed Jul 02, 2014 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: House maintenance cost
Replies: 13
Views: 1255

Re: "most [] research findings in financ[e] are likely false"

Leeraar,

Thank you for the reference. Must read material. 8-)

Lev
by Levett
Wed Jul 02, 2014 11:12 am
 
Forum: Investing - Theory, News & General
Topic: "most [] research findings in financ[e] are likely false"
Replies: 62
Views: 3789

Re: "most [] research findings in financ[e] are likely false"

"the whole enchilada."

Now you're talkin'.

I look forward to the recipe.

I am a strong proponent of "scientific" cooking. ;-)

Lev

P.S. Ernest Hemingway said all good authors have an excellent BSX detector. 8-)
by Levett
Wed Jul 02, 2014 7:45 am
 
Forum: Investing - Theory, News & General
Topic: "most [] research findings in financ[e] are likely false"
Replies: 62
Views: 3789

Re: The Truth Hurts: CNBC

I wouldn't blame the planner.

If an individual investor doesn't know the difference between a pile of money and a steady income stream in retirement that supports an appropriate level of expense, I'd say the individual's fate is sealed.

Lev
by Levett
Tue Jul 01, 2014 3:24 pm
 
Forum: Investing - Theory, News & General
Topic: The Truth Hurts: CNBC
Replies: 17
Views: 3499

Re: on not retiring (until necessary or required)

" I'm a relatively young professor (34 and close to tenure) and I am incredibly fortunate to genuinely love my work." I know the feeling. First things first: get tenure (the ranks of the tenured are diminishing at a fairly rapid rate). Then you will be able to save regularly for a lengthy ...
by Levett
Tue Jul 01, 2014 7:31 am
 
Forum: Investing - Help with Personal Investments
Topic: on not retiring (until necessary or required)
Replies: 17
Views: 1639

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

"The folks who are in TIAA-CREF are lucky enough to be able to still follow this strategy, as long as they don't get deluded by MPT and the Cult of Equities into abandoning a sound Income Floor strategy." Yes, Browser. I am here to testify (about to launch into my 15th yr. of a contented ...
by Levett
Sun Jun 29, 2014 2:19 pm
 
Forum: Investing - Theory, News & General
Topic: Merton: 401(k) retirement plans face crisis
Replies: 188
Views: 17040

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

TIAA has been producing such statements for umpteen years. It was exceedingly informative and helpful to my retirement planning As a retiree, my principal concern is streams (hopefully reliable) of income. A pile of dough is a cheap thrill. A continuing and growing stream of income is about as close...
by Levett
Fri Jun 27, 2014 7:04 am
 
Forum: Investing - Theory, News & General
Topic: Merton: 401(k) retirement plans face crisis
Replies: 188
Views: 17040

Re: The Conversion of Bill Gross

"it reminds us that even credible gurus like Gross can be very wrong and sometimes the pie-in-the-sky guys turn out to be right."

Truthfully, I don't find the post actionable and I hardly need the reminder either about Mr. Gross or anyone else, including myself.


Lev
by Levett
Thu Jun 26, 2014 7:10 am
 
Forum: Investing - Theory, News & General
Topic: The Conversion of Bill Gross
Replies: 22
Views: 2769

Re: Bogle on Governance

The title is "Bogle Finds Little Traction on Governance."

There is, apparently, a world of difference between John Bogle's concern with governance and the spacious world of Bogleheads.

Lev

P.S. I am a great fan of the the World Cup.
by Levett
Wed Jun 25, 2014 8:15 pm
 
Forum: Investing - Theory, News & General
Topic: Bogle on Governance
Replies: 9
Views: 825

Re: Bogle on Governance

"that Jesus seems to have been a more practical businessman than are American shareholders."

Amen.

Lev
by Levett
Wed Jun 25, 2014 5:28 pm
 
Forum: Investing - Theory, News & General
Topic: Bogle on Governance
Replies: 9
Views: 825

Re: Pool Maintenance Cost

Yes, pools are expensive--the chemicals are expensive, and most of the equipment produced is genuine 100% KRAP. And yet, when you entertain, and when your friends and grandchildren are having the time of their lives, you forget about it in an instant--especially if what your'e drinking is so agreeab...
by Levett
Wed Jun 25, 2014 5:25 pm
 
Forum: Personal Consumer Issues
Topic: Pool Maintenance Cost
Replies: 14
Views: 1225

Re: Bogle on Governance

Yes, this is the downside of "passive." Bogle's fiercest and best book is The Battle for the Soul of Capitalism . It's among the least commented on Bogle books at this site. Got a spare 55 minutes to hear John Bogle lay it on the line? https://www.youtube.com/watch?v=mA62qqiYZWU Lev P.S. H...
by Levett
Wed Jun 25, 2014 7:16 am
 
Forum: Investing - Theory, News & General
Topic: Bogle on Governance
Replies: 9
Views: 825

Re: Financial Literacy Quiz by FINRA

Well compensated toothless organization. Talk about passive. ;-)

Lev
by Levett
Tue Jun 24, 2014 3:14 pm
 
Forum: Investing - Theory, News & General
Topic: Financial Literacy Quiz by FINRA
Replies: 18
Views: 1021

Re: How compelling is the TIAA Real Estate fund?

Hi oldzey, You wrote: " P.S. TREA closed the week at another all time high: $315.19 ." I recommend you insert the word "nominal " in front of "all time high." :happy Lev P.S. Although I did write 15% max (in a burst of testosterone), I am myself much closer to VT's reco...
by Levett
Sat Jun 21, 2014 7:45 am
 
Forum: Investing - Help with Personal Investments
Topic: How compelling is the TIAA Real Estate fund?
Replies: 85
Views: 4492

Re: How compelling is the TIAA Real Estate fund?

Hi VT, It's that pest, Lev, again. :oops: Anyway, it's not TREA that is deep into farmland. It's the company TIAA (and its subsidiaries) that has moved in. As I recall, TIAA (not TREA) purchased the entire farmland portfolio from the state of Illinois retirement system. And TIAA uses profit-making s...
by Levett
Thu Jun 19, 2014 6:53 am
 
Forum: Investing - Help with Personal Investments
Topic: How compelling is the TIAA Real Estate fund?
Replies: 85
Views: 4492

Re: To stay a Boglehead, I have to leave Bogleheads.org

I don't read this site for "advice."

I read it because I enjoy observing how some people approach a problem.

It's the minds at work that provide the pleasure. 8-)

Lev
by Levett
Wed Jun 18, 2014 2:27 pm
 
Forum: Investing - Theory, News & General
Topic: To stay a Boglehead, I have to leave Bogleheads.org
Replies: 56
Views: 6104
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