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Re: Which Vanguard BOND Fund ?

If I may ask, as I'm also in the distribution phase, can you provide the percentages you hold in your mix of Investment Grade, Total Bond Market, Short-Term bond funds, SPIAs and cash? I also see you may not hold any TIPS. If you don't, can you give me your reasoning? I enjoy comparing other's pers...
by Munir
Thu Aug 21, 2014 6:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which Vanguard BOND Fund ?
Replies: 20
Views: 1617

Re: Which Vanguard BOND Fund ?

A number of Bogleheads do not see the Total Bond Fund as the apporpriate sole bond fund to hold. These doubters include Jack Bogle and Larry Swedroe (who have different reasons for not liking it). There have been many threads on this forum discussing this subject. The risks of corporate bonds have b...
by Munir
Wed Aug 20, 2014 9:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which Vanguard BOND Fund ?
Replies: 20
Views: 1617

Re: Which Vanguard BOND Fund ?

Good afternoon all. I have 20% of my (retirement) money in Vanguards Intermediate-Term Investment Grade Bond Fund (VFIDX) Admiral Shares 3 Year - Average Annual Performance 5.40% but, I see Vanguard also has a Intermediate-Term Corporate Bond Index (VICSX) Admiral Shares 3 Year - Average Annual Per...
by Munir
Wed Aug 20, 2014 6:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which Vanguard BOND Fund ?
Replies: 20
Views: 1617

Re: Vanguard Bond funds Style change

Slightly off-topic, I just noticed that M* recently raised the average credit rating of the Intermediate Investment Grade fund (VFIDX) from BBB to A, which makes it the same rating as the Intermediate Bond Index Fund (VBILX).
by Munir
Sun Aug 17, 2014 6:06 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Bond funds Style change
Replies: 19
Views: 1770

Re: RBD here yet? (DOW -300points drop)

"Take your risk in stocks"- how true. A 2.02% drop today in the Total Stock Market fund. The intermediate bond funds (including investment grade!) did not budge today while dropping about 0.35% -0.40% yesterday which was the extent of their "big" fall. But one day means little. L...
by Munir
Thu Jul 31, 2014 7:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: RBD here yet? (DOW -300points drop) [Really Bad Day]
Replies: 49
Views: 5079

Re: Bonds!!??

I am puzzled. If the facts about bonds are so self-evident as nisiprius, Taylor, and many others state, then why do so many Bogleheads (and others) still discuss and explore so many variations of bond & fixed income instruments' ownership?
by Munir
Tue Jul 29, 2014 10:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bonds!!??
Replies: 56
Views: 10692

Re: Target Retirement vs Life Strategy Income

We are trying to simplify our portfolio so my wife will not have to manage our asset allocation after I pass. Either choice will work but I'm concerned about the lack of Infl. Protection in the LFI fund. Our Vang. advisor said the stock portion will be enough for that. Our AA in 30/70 Stk/Bnd. What...
by Munir
Tue Jul 29, 2014 7:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Target Retirement vs Life Strategy Income
Replies: 7
Views: 1309

Re: POLL: Do you own corporate bonds?

From the statistics above up till now, about half of the responding Bogleheads own dedicated corporate bond funds or corporate bonds, and about another 40% own them as part of a total bond fund for a total of 90%. This is surprising because the number of posters who slam corporate bonds (usually wit...
by Munir
Sat Jul 26, 2014 6:58 pm
 
Forum: Investing - Theory, News & General
Topic: POLL: Do you own corporate bonds?
Replies: 35
Views: 2139

Re: POLL: Do you own corporate bonds?

livesoft: is there a reason for not including the Intermediate Investment Grade Fund in your portfolio (VFIDX)?
by Munir
Fri Jul 25, 2014 1:18 pm
 
Forum: Investing - Theory, News & General
Topic: POLL: Do you own corporate bonds?
Replies: 35
Views: 2139

Re: Adding Corporates to Total Bond Market Index

Welcome back Landy.... The most realistic solution I see for today's interest rate environment is ST IG (LT Tax-Ex in taxable) for rebalance money, which has a better interest rate rise recovery rate (yield/duration), and the rest in IT IG corporates. I don't like it, but I like it better than what...
by Munir
Wed Jul 23, 2014 11:50 am
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: Adding Corporates to Total Bond Market Index

Recall especially how corporates, even highly rated ones, behave in a crisis. They tank. Recall how treasuries behave in a crisis. They soar. Just look at the spread between corporates and US treasuries in the 2008 crash. Corporate bonds behave like stocks in a crisis, treasuries behave the opposit...
by Munir
Tue Jul 22, 2014 1:47 pm
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: Adding Corporates to Total Bond Market Index

What happened to the "stay the course" motto? I do hope you see the irony in your query. (A few years ago, "stay the course" had not yet become "stay the course -- after switching to corporate bonds.") --Peter Peter, I don't see the irony because I have always favored ...
by Munir
Tue Jul 22, 2014 1:28 am
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: Adding Corporates to Total Bond Market Index

Recall especially how corporates, even highly rated ones, behave in a crisis. They tank. Recall how treasuries behave in a crisis. They soar. Just look at the spread between corporates and US treasuries in the 2008 crash. Corporate bonds behave like stocks in a crisis, treasuries behave the opposit...
by Munir
Mon Jul 21, 2014 5:45 pm
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: VG Admiral Fund-falling below minimum investment

If you don't want to look at all the previous topics relating to this subject, my understanding is that you will maintain Admiral status unless you withdraw funds that will make the value fall below the required minimum- i.e. a change in the NAV and the fund value because of falling prices will not ...
by Munir
Sun Jul 20, 2014 5:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: VG Admiral Fund-falling below minimum investment
Replies: 36
Views: 3375

Re: Adding Corporates to Total Bond Market Index

Have call provisions and default risk been documented as signifcant factors in the performance of the Intermediate Investment Grade fund or are they just theoretical possibilities as far as this specific fund is concerned? If we are talking the VG fund then I believe it is actively managed. A coupl...
by Munir
Sat Jul 19, 2014 12:33 pm
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: Adding Corporates to Total Bond Market Index

I also made a change due solely to what Mr. Bogle said about the total bond fund. About 15 months ago I split my bond holdings in half between Intermediate Term Investment Grade (VFIDX) and Total Bond Mkt (VBTLX). It is has gone from 50/50 to 53/47, respectively. I am pleased with the results. Are ...
by Munir
Fri Jul 18, 2014 4:10 pm
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: Adding Corporates to Total Bond Market Index

The counter argument to this, and it is a pretty sound one, is that rather than tilting more towards corporates instead slightly increase your stock allocation if you need more "yield" - i.e. return. Recall especially how corporates, even highly rated ones, behave in a crisis. They tank. ...
by Munir
Fri Jul 18, 2014 4:07 pm
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: What Do You Tilt to Outside of the Three Fund (at least

Do corporate bond funds such as Intermediate Investment Grade fit under other?
by Munir
Thu Jul 17, 2014 5:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: What Do You Tilt to Outside of the Three Fund (at least 4%)?
Replies: 25
Views: 1420

Re: Adding Corporates to Total Bond Market Index

Have call provisions and default risk been documented as signifcant factors in the performance of the Intermediate Investment Grade fund or are they just theoretical possibilities as far as this specific fund is concerned?
by Munir
Thu Jul 17, 2014 11:18 am
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: Vanguard Inter-Term Bond Index (VBILX)

It's main drawback seems to be its longer duration compared to other intermediate bond funds- 6.5 years vs. 5.2 for Int. Inv. Gr. and 5.6 for Tot. Bond Index -which makes it more sensitive to a possible rise in rates.
by Munir
Wed Jul 16, 2014 9:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Inter-Term Bond Index (VBILX)
Replies: 9
Views: 1050

Re: Adding Corporates to Total Bond Market Index

Would it be reasonable to simply put corp bonds into the equity column when calculating AA? Investment grade corporate bonds are much less risky than equities. They may swing in the equity way when the market drops but far less than equities. Because they are slightly more volatile than treasuries,...
by Munir
Wed Jul 16, 2014 11:38 am
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: A question for the Bogleladies or those who can consult

MN-Investor wrote:
Munir wrote:PS: I noticed that only two or three women commented in the above thread. Are males the exprerts on female lingerie?


I don't know how I got counted in your summary. Should I change my shiny blue avatar to a pink one so you can tell I'm female? :P


Yep :D . Sorry for the omission.
by Munir
Tue Jul 15, 2014 6:31 pm
 
Forum: Personal Consumer Issues
Topic: A question for the Bogleladies or those who can consult one
Replies: 70
Views: 5811

Re: A question for the Bogleladies or those who can consult

How about men's underwear? Where can one get advice as to size, color, style etc..Maybe this would be a separate thread. What next for a financial forum? :happy

PS: I noticed that only two or three women commented in the above thread. Are males the exprerts on female lingerie?
by Munir
Tue Jul 15, 2014 10:28 am
 
Forum: Personal Consumer Issues
Topic: A question for the Bogleladies or those who can consult one
Replies: 70
Views: 5811

Re: Adding Corporates to Total Bond Market Index

I think those who oppose corporate bonds totally and suggest equities instead are off the mark. The Intermediate Investment Grade fund had a temporary dip in 2008 and more than recovered in 2009 when it far surpassed treasuries. I don't think that one should exclude a class of bonds based on such an...
by Munir
Mon Jul 14, 2014 7:14 pm
 
Forum: Investing - Theory, News & General
Topic: Adding Corporates to Total Bond Market Index
Replies: 76
Views: 6982

Re: A question for the Bogleladies or those who can consult

Since the term Bogleheads includes men and women, a more appropriate term to use in this question might be women Bogleheads. Bogleladies suggests a reference to the women of Bogle- which I know is not the OP's intention.
by Munir
Mon Jul 14, 2014 7:01 pm
 
Forum: Personal Consumer Issues
Topic: A question for the Bogleladies or those who can consult one
Replies: 70
Views: 5811

Re: Vanguard LifeStrategy Moderate Growth Fund through 401(k

pkcrafter wrote:I'd go with the LS fund.

Paul


+1
by Munir
Sun Jul 13, 2014 2:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard LifeStrategy Moderate Growth Fund through 401(k)
Replies: 35
Views: 2304

Re: Kiplinger: Why You Should Avoid Most Bond Index Funds

Regardless of the shortcomings of the article, I thought the subject being discussed is indexing for bond funds and comparing three Vanguard intermediate bond funds. Can we get back to these subjects?
by Munir
Sat Jul 12, 2014 1:09 pm
 
Forum: Investing - Theory, News & General
Topic: Kiplinger: Why You Should Avoid Most Bond Index Funds
Replies: 32
Views: 6643

Re: Kiplinger: Why You Should Avoid Most Bond Index Funds

----------------------Duration------SEC Yield---------------Av. Credit Quality Interm. Inv. Gr.------5.2------------3.25-----------------BBB Tot. Bond Ind.--------5.6------------2.59-----------------AA Interm. Bond Ind.--- 6.5------------ 2.91----------------- A *The duration of the Interm. Bond Ind...
by Munir
Fri Jul 11, 2014 12:18 pm
 
Forum: Investing - Theory, News & General
Topic: Kiplinger: Why You Should Avoid Most Bond Index Funds
Replies: 32
Views: 6643

Re: Kiplinger: Why You Should Avoid Most Bond Index Funds

imgritz wrote:Is this why Vanguard CFPs recommend Short-Term investment grade and Intermediate-Term investment grade to compliment the Total Bond Market index in their analysis?


+1
by Munir
Fri Jul 11, 2014 6:37 am
 
Forum: Investing - Theory, News & General
Topic: Kiplinger: Why You Should Avoid Most Bond Index Funds
Replies: 32
Views: 6643

Re: The Risk of Short-term Bond Funds

Thanks. I have basically been saying this over and over again to little avail. After a while, I get to exhausted to respond anymore. If you are a retiree in his mid-seventies, you do not know how long you will live- could be three years or 20 years. My conclusion is to own bond funds of varying dur...
by Munir
Tue Jul 08, 2014 11:37 am
 
Forum: Investing - Theory, News & General
Topic: The Risk of Short-term Bond Funds
Replies: 152
Views: 10786

Re: Jonathan Clements WSJ: His index fund portfolio

Clements has a fairly standard Boglehead style portfolio. No surprise and maybe unexciting, but this is exactly what you want to see from someone who promotes Boglehead-style investing. Yep, he's on one of those roads to Dublin. :happy Paul Is it "a fairly standard Boglehead style portfolio&qu...
by Munir
Tue Jul 08, 2014 12:01 am
 
Forum: Investing - Theory, News & General
Topic: Jonathan Clements WSJ: His index fund portfolio
Replies: 13
Views: 3041

Re: Jonathan Clements WSJ: His index fund portfolio

Am I understanding him correctly that his fixed income funds are only in short term corps, CDs, and emerging market bonds?
by Munir
Sun Jul 06, 2014 2:42 pm
 
Forum: Investing - Theory, News & General
Topic: Jonathan Clements WSJ: His index fund portfolio
Replies: 13
Views: 3041

Re: Does corporate credit risk add value

Munir Glad to help but what I've tried to show is that YIELD isn't what should drive your decisions at all. IT's total portfolio return and the most efficient way to get the return you need. And it's not by taking credit risk---don't confuse yield and return. Larry I was under the impression from r...
by Munir
Sat Jul 05, 2014 1:25 pm
 
Forum: Investing - Theory, News & General
Topic: Does corporate credit risk add value
Replies: 71
Views: 4289

Re: Does corporate credit risk add value

Munir If you look at say Vanguard's high yield vs Treasury you'll find same thing, higher returns over long term. But when you put in portfolio that advantage disappears due to higher correlations and risks showing up at wrong time. Making mistake of looking at things in isolation Larry Got it. Tha...
by Munir
Sat Jul 05, 2014 12:08 pm
 
Forum: Investing - Theory, News & General
Topic: Does corporate credit risk add value
Replies: 71
Views: 4289

Re: Does corporate credit risk add value

From the Vanguard web site: Yield YTD 1 year 5 years 10 years Inter-Term Invest-Gr (Adm) 2.67% 4.07% 6.34% 7.94% 5.88% Inter-Term Treasury (Adm) 1.67% 2.11% 2.18% 4.19% 5.03%
by Munir
Sat Jul 05, 2014 11:28 am
 
Forum: Investing - Theory, News & General
Topic: Does corporate credit risk add value
Replies: 71
Views: 4289

Re: The Risk of Short-term Bond Funds

The total bond market index funds has short-, intermediate- and long-term bonds. Only the portfolio duration is 5.7 years, which is intermediate-term. Thanks, I did really know that. The Total Stock Market contains large, medium, small caps, REITS, etc but some people like to tilt a bit in equities...
by Munir
Thu Jul 03, 2014 2:10 pm
 
Forum: Investing - Theory, News & General
Topic: The Risk of Short-term Bond Funds
Replies: 152
Views: 10786

Re: The Risk of Short-term Bond Funds

OK, folks … how do you explain that some folks made more money by switching to short-term bond funds than they would have made by staying in intermediate-term bond funds? I suppose those folks can switch back now and stay ahead of the case of non-switching. Started switching back to intermediates a...
by Munir
Wed Jul 02, 2014 9:46 pm
 
Forum: Investing - Theory, News & General
Topic: The Risk of Short-term Bond Funds
Replies: 152
Views: 10786

Re: Any other retirees moving money out of Vanguard?

I recently had my portfolio reviewed by a Vanguard CFP. His suggestion for the bond portfolio was Vanguard Short-Term Investment-Grade Vanguard Intermediate-Term Investment-Grade Vanguard Total Bond Market Index Vanguard Total International Bond Index Hope this helps. +1. I own the above (minus the...
by Munir
Tue Jun 24, 2014 4:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Any other retirees moving money out of Vanguard?
Replies: 54
Views: 6219

Re: Any other retirees moving money out of Vanguard?

But bond ratings do not represent absolute truth. You can't tell what a bond will do in the future any more than a stock. Intermediate Investment-Grade is Vanguard's classiest bond fund. How's that for a rating? I'm serious. If you can't see that this is a good fund then maybe you are not ready for...
by Munir
Tue Jun 24, 2014 4:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Any other retirees moving money out of Vanguard?
Replies: 54
Views: 6219

Re: Best Fixed Income Investment - Morningstar article

[New issue 5 year CD at Vanguard brokerage is listed at 2.05% Intermediate Investment Grade Admiral fund (VFIDX-corrected) has an SEC yield of 2.64% and duration of 5.2 years. Credit risk is minimal. What about interest rate risk? When/if the Fed starts raising short-term rates, will that affect th...
by Munir
Sat Jun 21, 2014 12:21 pm
 
Forum: Investing - Theory, News & General
Topic: [Morningstar article] the best fixed income investment
Replies: 55
Views: 3910

Re: Best Fixed Income Investment - Morningstar article

In my Vanguard IRA I have short term investment grade fund and intermediate term investment grade fund. Does it make sense to replace either of these with 5 year CDs from Vanguard in the IRA brokerage account? tc101, I apologize for my previous cryptic resposne of "no". New issue 5 year C...
by Munir
Fri Jun 20, 2014 10:51 pm
 
Forum: Investing - Theory, News & General
Topic: [Morningstar article] the best fixed income investment
Replies: 55
Views: 3910

Re: Best Fixed Income Investment - Morningstar article

In my Vanguard IRA I have short term investment grade fund and intermediate term investment grade fund. Does it make sense to replace either of these with 5 year CDs from Vanguard in the IRA brokerage account? IMO, it depends on your overall investment plan and how much extra work you're up for. Ow...
by Munir
Fri Jun 20, 2014 10:44 pm
 
Forum: Investing - Theory, News & General
Topic: [Morningstar article] the best fixed income investment
Replies: 55
Views: 3910

Re: Best Fixed Income Investment - Morningstar article

tc101 wrote:In my Vanguard IRA I have short term investment grade fund and intermediate term investment grade fund. Does it make sense to replace either of these with 5 year CDs from Vanguard in the IRA brokerage account?


No.
by Munir
Fri Jun 20, 2014 3:10 pm
 
Forum: Investing - Theory, News & General
Topic: [Morningstar article] the best fixed income investment
Replies: 55
Views: 3910

Re: "The Biggest Risk Factor for Your Portfolio"

Christine Benz is Morningstar's Director of Personal Investing and a member of our Panel of Experts at Boglehead Conferences. Christine has written an article about "Portfolio Risk Factors" containing many valuable gems like these: "The biggest risk factor for your portfolio right no...
by Munir
Tue Jun 17, 2014 6:08 pm
 
Forum: Investing - Theory, News & General
Topic: "The Biggest Risk Factor for Your Portfolio"
Replies: 5
Views: 1002

Re: "Is Bogle Befuddling?"

[quote="petrico
Is it now foolish to stay the course with the Total Bond Market index and no shift to corporate debt?
--Peter[/quote]

According to Jack, and my own humble opinion, the answer is "yes".
by Munir
Sun Jun 15, 2014 12:48 am
 
Forum: Investing - Theory, News & General
Topic: "Is Bogle Befuddling?"
Replies: 57
Views: 7156

Re: "Is Bogle Befuddling?"

I am bumping this conversation up because three of the last four posts have questions addressed to Alex Frakt which remain unanswered. Maybe he will notice them now. Calling Alex :happy !
by Munir
Mon Jun 09, 2014 1:48 pm
 
Forum: Investing - Theory, News & General
Topic: "Is Bogle Befuddling?"
Replies: 57
Views: 7156

Re: "Is Bogle Befuddling?"

Note that my bond holdings may change in retirement as bonds take on a different role in my portfolio. FWIW, at one of the Bogleheads conferences, I asked the panel about using Intermediate Corps as a sole bond holdings and they all agreed it was in the realm of the reasonable. Alex, How might your...
by Munir
Tue Jun 03, 2014 5:30 pm
 
Forum: Investing - Theory, News & General
Topic: "Is Bogle Befuddling?"
Replies: 57
Views: 7156

Re: Good Bogle Interview in June AAII-Early Preview

I really appreciated his ideas about bonds and bond fund investing in the last section of the article. Clear and concise, as usual.

The interviewer said this is Part I of the interview. When will Part II be published? Will matjen let us know? Thanks.
by Munir
Sat May 31, 2014 3:28 pm
 
Forum: Investing - Theory, News & General
Topic: Good Bogle Interview in June AAII-Early Preview
Replies: 19
Views: 1519

Re: Trying to Understand Corporate Bond Risk in Wellesley

If 60% of the 78% equals 47% of the Wellesley fund, should I expect that 47% to lose 50% of its value if the equity markets lose 50% of their value? No, you should not expect corporate bonds to lose as much of their value as equities. If I were you I'd start by looking at Vanguard's Intermediate-Te...
by Munir
Fri May 30, 2014 11:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Trying to Understand Corporate Bond Risk in Wellesley
Replies: 44
Views: 2991

Re: Who are the BogleHeads.org heavyweights?

livesoft wrote:OK, let's all get new forum names and start over. Then in a year or so, maybe we can match up the new names to the old ones. I always wanted to be Larry Ferri.


How about livehard or softhard ? :happy .
by Munir
Fri May 30, 2014 7:09 pm
 
Forum: Forum Issues and Administration
Topic: Who are the Bogleheads.org heavyweights?
Replies: 127
Views: 9068
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