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Re: *poor* Bogleheads

My compliments to Harold for providing the most sensible and actionable advice: Harold » Fri Apr 18, 2014 8:34 am "My sense is that self-selection and the natural tendency of people to brag/exaggerate is coming into play to form your perception. I don't need to look much beyond the sheer volume...
by Levett
Fri Apr 18, 2014 12:22 pm
 
Forum: Forum Issues and Administration
Topic: *poor* Bogleheads
Replies: 78
Views: 4690

Re: Over-55 communities a ripoff?

sscritic, you are too much. You are on a roll. Love it. 8-)

Lev
by Levett
Thu Apr 17, 2014 7:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Over-55 communities a ripoff?
Replies: 38
Views: 2437

Re: Over-55 communities a ripoff?

Creepy is a good word. We are in our early 70s. Been in the 'hood since 1990. House flanked by young families with young kids. It's wonderful. If the ambulance is gonna come, I want young and less young to be witnesses! ;-) You are the vibe of your surroundings. Who wants self-imposed segregation of...
by Levett
Thu Apr 17, 2014 5:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Over-55 communities a ripoff?
Replies: 38
Views: 2437

Re: Newly Widowed, what to do with the life insurance money.

Like sscritic, I lost my first wife at age 39. Listen carefully to what sscritic has said not just about finances, but about going slow in all respects--advice I received from a wise family lawyer. This is a terrible experience you've had, and you have to take very good care of yourself--for your ow...
by Levett
Thu Apr 17, 2014 9:27 am
 
Forum: Investing - Help with Personal Investments
Topic: Newly Widowed, what to do with the life insurance money....
Replies: 28
Views: 3115

Re: The World Top Incomes Database

I'm waiting for my copy of the book to arrive, Bob.

It's likely too heavy for me to take to Paris. ;-)

Lev
by Levett
Thu Apr 17, 2014 6:38 am
 
Forum: Investing - Theory, News & General
Topic: The World Top Incomes Database
Replies: 5
Views: 800

Re: TIAA-CREF is buying Nuveen?

Fool's gold.

Lev
by Levett
Wed Apr 16, 2014 7:49 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF is buying Nuveen?
Replies: 44
Views: 2431

Re: TIAA TPA rollover to Roth?

"The recent news from TIAA has left us wondering if it's wise to put all our annuity eggs in one basket"

Is there "news" I should be worried about?

Did Fidelity buy out TIAA? ;-)
by Levett
Wed Apr 16, 2014 5:19 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA TPA rollover to Roth?
Replies: 10
Views: 231

Re: TIAA TPA rollover to Roth?

whomever, I gather you have not spoken to a TIAA rep. I'd recommend you start there. In any case, scroll through the following form available online. https://www.tiaa-cref.org/public/pdf/forms/F10990_Form_09_Fillable.pdf It appears the form does allow for making a TPA payment into a Roth (see sectio...
by Levett
Wed Apr 16, 2014 4:45 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA TPA rollover to Roth?
Replies: 10
Views: 231

Re: TIAA-CREF is buying Nuveen?

So far the ratings score is 2 -1: Fitch and A. M. Best have reaffirmed TIAAs current AAA rating, while Moody's is considering a downgrade.

Lev
by Levett
Tue Apr 15, 2014 2:24 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF is buying Nuveen?
Replies: 44
Views: 2431

Re: Bannability Index

Better Bannable than Banal is what I say. ;-)

Lev
by Levett
Sat Apr 12, 2014 9:42 am
 
Forum: Forum Issues and Administration
Topic: Bannability Index
Replies: 10
Views: 724

Re: TIAA CREF

Oh, boy. A professorial Cat Fight. Just what Bogleheads yearns for. :annoyed

Lev
by Levett
Fri Apr 11, 2014 7:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA CREF
Replies: 50
Views: 3268

Re: Tax audit poll

That's a heckuva record, CFS.

Why not offer IRS a guest room? ;-)

I've had two encounters with the Cincinnati office.

I've been waiting to be made an honorary resident of Ohio! :D

Lev
by Levett
Fri Apr 11, 2014 7:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax audit poll
Replies: 19
Views: 974

Re: TIAA CREF

For TIAA bleeding hearts. ;-) TIAA-CREF’s website is not vulnerable to the “Heartbleed” Internet Security issue. ShareEmailPrint April 10, 2014 – Several media outlets have reported about an Internet security issue called “Heartbleed,” which may put personal information such as their user name, pass...
by Levett
Thu Apr 10, 2014 7:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA CREF
Replies: 50
Views: 3268

Re: TIAA CREF

Well, I wouldn't want to deprive anyone of the notice that TIAA has posted--heartbleed being around for is it two years? Secure Login Upgrade SHAREEMAILPRINT What is happening? In 2014, we are taking steps to upgrade the security of your online account to better serve you. You will be asked to updat...
by Levett
Thu Apr 10, 2014 12:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA CREF
Replies: 50
Views: 3268

Re: This time it's different?

"Anything else?"

Yes.

Don't obsess.

Don't get so focused on the future that you overlook the importance of the present.

Enjoy the journey!

Lev
by Levett
Wed Apr 09, 2014 5:55 am
 
Forum: Investing - Theory, News & General
Topic: This time it's different?
Replies: 16
Views: 2435

Re: Flash Boys For the People

Great link, Dan.

Yeah, I've read the book.

Lev

P.S. Lewis calls attention to Arnuk and Saluzzi in a note at the bottom of page 184 (hardback copy).
by Levett
Mon Apr 07, 2014 7:11 pm
 
Forum: Investing - Theory, News & General
Topic: Flash Boys For the People
Replies: 7
Views: 931

Re: Help me understand Michael Lewis' "Flash Boys"

The SEC may be slow, but its staffers move to HFTs and its associates with considerable rapidity! Lewis writes (p. 106 of the hardback): "RBC conducted a study, never released publicly, in which they found that more than two hundred SEC staffers since 2007 had left their government jobs to work...
by Levett
Mon Apr 07, 2014 5:28 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8260

Re: Why is Joe Brennan defending high frequency trading?

Interesting. As I recall, Vanguard stopped using Pershing. And here's what I find about Pershing, which is used by TIAA: Payments for Order Flow. Pershing, LLC may receive compensation in connection with routing orders to the marketplace for execution, subject to its obligations to seek best executi...
by Levett
Mon Apr 07, 2014 2:29 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3493

Re: Why is Joe Brennan defending high frequency trading?

I feel supremely confident that your questions will be answered speedily, Nisi, because Vanguard has assured all of us that:

"At Vanguard, it's all about you."

Do let us know when your queries have been answered.

Lev
by Levett
Mon Apr 07, 2014 9:47 am
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3493

Re: "The 4% rule and a dynamic retirement spending plan"

"Dynamic" is a lovely euphemism for "It depends" or "It may be a bumpy journey."

It reminds me of Sonny's line in The Best Exotic Marigold Hotel:

"Everything will be alright in the end, and if it is not alright, it is not the end." ;-)

Lev
by Levett
Sun Apr 06, 2014 4:49 am
 
Forum: Investing - Theory, News & General
Topic: "The 4% rule and a dynamic retirement spending plan"
Replies: 14
Views: 1600

Re: Why is Vanguard defending high frequency trading?

"I haven't read the book yet, but by all accounts Lewis didn't provide any new information or analysis or engage in any novel scholarship. I would expect somebody like Bogle to be familiar with Lewis's arguments without having to read the book ." Actually, Bogle's comments to CBS Marketwa...
by Levett
Fri Apr 04, 2014 7:53 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3493

Re: "John Bogle: Vanguard Founder Discusses How To Invest"

"IBD: Do you still own shares in Vanguard Wellington Fund ? If so, aren't you a shareholder in an actively managed fund? Bogle: First, let me make one point clear. I own a lot because I started working at Wellington Management in 1951. We had a defined contribution pension plan, and 15% of my ...
by Levett
Thu Apr 03, 2014 7:55 pm
 
Forum: Investing - Theory, News & General
Topic: IBD's interview John Bogle [Investor's Business Daily]
Replies: 24
Views: 1895

Re: Please help identify quote: I'm richer than he because..

Epicurus (341-270 BC): "Nothing is enough for the man to whom enough is too little."

Lev
by Levett
Thu Apr 03, 2014 5:40 am
 
Forum: Investing - Theory, News & General
Topic: Please help identify quote: I'm richer than he because...
Replies: 28
Views: 2747

Re: Vanguard role in corporate governance

XtremeSki writes:

"IMHO, it's the fad right now and will pass"

Be sure to pass along that information to Mr. Bogle.

Lev
by Levett
Wed Apr 02, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard role in corporate governance
Replies: 21
Views: 1059

Re: Vanguard role in corporate governance

jerry, Vanguard tells us we shareholders "own" the company but we "owners" are not told what we pay their executives. My view is that Vanguard is in no position to be an activist about executive compensation until the company itself walks the walk. :oops: No doubt other advocates...
by Levett
Wed Apr 02, 2014 7:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard role in corporate governance
Replies: 21
Views: 1059

Re: [High-frequency trading hurts regular customers]

Note to Taylor and Rod (with respect). The date of the Vanguard article is September 17, 2012. If I heard the interview on 60 Minutes correctly, Vanguard was among the companies that was surprised by the results Brad Katsuyama uncovered and, in fact, consulted with him. I believe the same assertion ...
by Levett
Wed Apr 02, 2014 7:42 am
 
Forum: Investing - Theory, News & General
Topic: [High-frequency trading hurts regular customers]
Replies: 107
Views: 6196

Re: Retirement pulse check

Don't compare yourself with others.

Figure out your available retirement income vis-à-vis your standard of living.

It's not a competition.

Lev
by Levett
Mon Mar 31, 2014 5:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retirement pulse check
Replies: 15
Views: 1396

Re: Is The US Stock Market Rigged? ~ 60 Minutes March 30, 20

I would not ordinarily urge anyone to watch CNBC, but the discussion this lunch hour (1215-1230 EST), especially with Mark Cuban (who knows how to make a buck or two and is quite familiar with HFT), is well worth a listen and some reflection. I imagine the discussion should be archived shortly. Furt...
by Levett
Mon Mar 31, 2014 12:38 pm
 
Forum: Investing - Theory, News & General
Topic: 60 Minutes 3-30-14: Michael Lewis book "Flash Boys"
Replies: 70
Views: 2493

Re: Is The US Stock Market Rigged? ~ 60 Minutes March 30, 20

"interested to see what our experts on the board think of this episode " Why? Reminds me of "the emperor has no clothes." Clearly, most everyone was clueless. It took a young equity trader at RBC to notice and put a team together to figure things out. Sure raises questions in my...
by Levett
Mon Mar 31, 2014 10:21 am
 
Forum: Investing - Theory, News & General
Topic: 60 Minutes 3-30-14: Michael Lewis book "Flash Boys"
Replies: 70
Views: 2493

Re: Wade Pfau: retirement income strategies

Thank you Richard (and Wade).

Lev
by Levett
Thu Mar 27, 2014 10:29 am
 
Forum: Investing - Theory, News & General
Topic: Wade Pfau: retirement income strategies
Replies: 17
Views: 2072

Re: Updated Wellington ER

The fund was closed to new financial advisors and institutional investors.

Lev
by Levett
Wed Mar 26, 2014 10:07 am
 
Forum: Investing - Theory, News & General
Topic: Updated Wellington ER
Replies: 8
Views: 1584

Re: Really confused by Bernstein

Rich, Here's some information from Vanguard that may help you put things in perspective. https://pressroom.vanguard.com/press_release/2013.06.11_How_America_Saves_2013.html At the end of 2012, the average 401K account balance at Vanguard was $86212. You would think from many posters at this site tha...
by Levett
Mon Mar 24, 2014 2:09 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12817

Re: Really confused by Bernstein

Rich, I don't know what area of the country you live in, but if you are near any areas with a lot of retirees why don't you go chat up a few retirees--even visit a community center or two where lots of retirees like to hang out and enjoy the company of other retirees. Just approach them in a friendl...
by Levett
Mon Mar 24, 2014 1:51 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12817

Re: Really confused by Bernstein

Ned said:
My take is that inflation is the biggest enemy of the investor


In my experience, I would say declining health is by far the biggest enemy.

Lev
by Levett
Mon Mar 24, 2014 7:08 am
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12817

Re: An improvement on the Fama French model

Yes, Paul, there are times when the latest portfolio upgrade reminds of the soap, "The Young and the Restless."

I happen to be a pensioner and content. ;-)

"Press on, regardless," a wise man said.

Lev.
by Levett
Sat Mar 22, 2014 4:50 pm
 
Forum: Investing - Theory, News & General
Topic: An improvement on the Fama French model
Replies: 47
Views: 2977

Re: Help me settle a debate -- Risk in Retirement

Here's the deal about "risk," whether in retirement or not.

On your journey to retirement most anything can happen.

In retirement the same.

Good luck.

Lev
by Levett
Fri Mar 21, 2014 5:07 pm
 
Forum: Investing - Theory, News & General
Topic: Help me settle a debate -- Risk in Retirement
Replies: 61
Views: 4215

Re: Is it ethical to put this on your resume?

You are selling your experience, not your degree.

One would hope the recruiter or firm you're interested in would know the difference!

Lev
by Levett
Thu Mar 20, 2014 2:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is it ethical to put this on your resume?
Replies: 27
Views: 2856

Re: Why did Bond Funds take a beating...

" The markets are always looking to the future; rates are going up, no doubt about i t." Ok. And this is news that the Almighty Efficient Market has just now started to process? Did someone hit the snooze alarm? Folks hear (project?) what they want to hear (project). Twitchy trigger finger...
by Levett
Thu Mar 20, 2014 7:24 am
 
Forum: Investing - Theory, News & General
Topic: Why did Bond Funds take a beating...
Replies: 39
Views: 3567

Re: Grandmother's trust is being pillaged, as far as I can t

Pillage is a very strong word, and on the face of it I don't see anything to justify your use of the term. You may want something less expensive for the trust, but I'd recommend you be more careful with your language--especially in front of the adviser. You may find yourself with a cost you would r...
by Levett
Wed Mar 19, 2014 5:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Grandmother's trust is being pillaged, as far as I can tell.
Replies: 11
Views: 2493

Re: Would you buy this immediate annuity at age 80?

Jim,

Given the specifics you have outlined and your great concern for your wife, I, too, would go with A.

It's 30% of your investments, so you have preserved a lot of liquidity as a cushion.

Lev
by Levett
Tue Mar 18, 2014 6:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Would you buy this immediate annuity at age 80?
Replies: 14
Views: 1511

Re: Target date retirement funds

"This board is obviously different"


I understand that a lot of folks would like to think so.

But I sure see a lot of stuff that makes me wonder. :confused

Lev
by Levett
Tue Mar 18, 2014 5:01 pm
 
Forum: Investing - Theory, News & General
Topic: Target date retirement funds
Replies: 20
Views: 2161

Re: Two cent check from Vanguard

cheese_breath--

The witticism belongs to JonnyDVM. I should have put quote marks around jonny's comment rather than just italics.

Jonny's comment is wonderful! :thumbsup

Lev
by Levett
Tue Mar 18, 2014 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Two cent check from Vanguard
Replies: 27
Views: 1877

Re: Two cent check from Vanguard

"I'm sure many on this forum will suggest using the $0.02 towards paying down your mortgage so you can sleep better at night."

:thumbsup ;-)

Lev
by Levett
Tue Mar 18, 2014 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Two cent check from Vanguard
Replies: 27
Views: 1877

Re: True Detective anyone?

Yes, Rust should have bled out. +He didn't want to be "here." He was born to die from the git.

And if you want Louisiana Dark, try Angel Heart. That's the standard.

Lev
by Levett
Mon Mar 17, 2014 8:17 pm
 
Forum: Personal Consumer Issues
Topic: True Detective anyone?
Replies: 61
Views: 5140

Re: "Getting Real About Retirement"

Now into year 14 of my retirement reality, I can easily say that Ms. Stern's article pretty much describes my retirement reality.

It's an eminently sensible piece to date for me.

However, I feel obliged to attach the proviso: "to be continued!" ;-)

Lev
by Levett
Mon Mar 17, 2014 6:53 am
 
Forum: Personal Finance (Not Investing)
Topic: "Getting Real About Retirement"
Replies: 27
Views: 3044

Re: Confession: I bought a stock. What is wrong with me?

Congratulations, Fred. Have fun watching it--seriously.

Might work out. Might not. So what?

It's an experience.

Lev
by Levett
Sun Mar 16, 2014 9:00 am
 
Forum: Investing - Help with Personal Investments
Topic: Confession: I bought a stock. What is wrong with me?
Replies: 25
Views: 2137
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