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Re: Leon Cooperman giving the same advice as Warren

Grt2bOutdoors wrote:Cash = Fiat money
.


Land deeds=Fiat ownership
Car titles =Fiat ownership

Etc etc etc

All repeat all concepts of property ownership are FIAT

Nothing except the government can create "ownership"
by Professor Emeritus
Tue Oct 21, 2014 6:08 am
 
Forum: Investing - Theory, News & General
Topic: Leon Cooperman giving the same advice as Warren
Replies: 38
Views: 2366

Re: Buying a house without a realtor

... As long as you keep their interests in the front of your mind, though, you might as well bring another realtor in. If the seller is using a realtor and you don't have one yet, have the seller's realtor work both sides of the transaction. They will likely help lower the price by lowering the com...
by Professor Emeritus
Tue Oct 21, 2014 5:21 am
 
Forum: Personal Consumer Issues
Topic: Buying a house without a realtor
Replies: 43
Views: 2683

Re: Buying a house without a realtor

Your understanding of the law is incorrect A buyer's agent is a fiduciary who owes a total duty of loyalty to the client . That is true BUT... I remember an article in the WSJ some years ago that showed (this was in Chicago I think) that when selling their own houses real estate agents held out lon...
by Professor Emeritus
Mon Oct 20, 2014 8:52 pm
 
Forum: Personal Consumer Issues
Topic: Buying a house without a realtor
Replies: 43
Views: 2683

Re: Buying a house without a realtor

Your understanding of the law is incorrect A buyer's agent is a fiduciary who owes a total duty of loyalty to the client. That is true BUT... I remember an article in the WSJ some years ago that showed (this was in Chicago I think) that when selling their own houses real estate agents held out long...
by Professor Emeritus
Mon Oct 20, 2014 6:21 pm
 
Forum: Personal Consumer Issues
Topic: Buying a house without a realtor
Replies: 43
Views: 2683

Re: Why do people use age instead of life expectancy?

I have always found the "age in bonds" discussions a bit bizarre. Your age as such MEANS NOTHING from an investment point of view. It is a useless factoid. It is being used as a proxy for life expectancy by people whose Victorian delicacy prohibits talking about death. . So the question i...
by Professor Emeritus
Mon Oct 20, 2014 8:12 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2869

Re: Attorney Hourly Rates?

Funny. I was actually talking with a soon to be attorney yesterday who's wrapping up her 8th year of higher education. She rattled off how much her 2 degrees have cost her in round #s and said "and yet people baulk at paying $200 an hour for our service". :happy Americans mostly balk :hap...
by Professor Emeritus
Mon Oct 20, 2014 5:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Attorney Hourly Rates?
Replies: 41
Views: 2838

Re: Why do people use age instead of life expectancy?

I have always found the "age in bonds" discussions a bit bizarre. Your age as such MEANS NOTHING from an investment point of view. It is a useless factoid. It is being used as a proxy for life expectancy by people whose Victorian delicacy prohibits talking about death. . So the question i...
by Professor Emeritus
Mon Oct 20, 2014 5:15 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2869

Re: Why do people use age instead of life expectancy?

I have always found the "age in bonds" discussions a bit bizarre. Your age as such MEANS NOTHING from an investment point of view. It is a useless factoid. It is being used as a proxy for life expectancy by people whose Victorian delicacy prohibits talking about death. . So the question i...
by Professor Emeritus
Mon Oct 20, 2014 5:13 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2869

Re: Why do people use age instead of life expectancy?

Professor Emeritus, I'm 59 years old and have a life expectancy of 78. I'm feeling pretty optimistic today, so I've recalculated my life expectancy and adjusted it to 82, based on family history and the fact that I have a nice wife and a warm dog. Given your summary dismissal of the "age in bo...
by Professor Emeritus
Mon Oct 20, 2014 5:09 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2869

Re: Buying a house without a realtor

And it isn't all about the agent fees. IMO, there isn't anything that requires the buyer's agent to have the buyers best interest in mind (that I am aware of). They make money by making the sale. Once they find a house you are even considering, they benefit by convincing you to buy it. I don't need...
by Professor Emeritus
Sun Oct 19, 2014 6:09 pm
 
Forum: Personal Consumer Issues
Topic: Buying a house without a realtor
Replies: 43
Views: 2683

Re: Computer codes availability at indep. repair garages?

Yes, some of that covers overhead like rent, tooling, training, oil disposal, etc; this is how a business works. If your shop is charging less as a loss leader to get in the door then they are under pressure to "up-sell" you and everybody else on different repairs that may or may not be n...
by Professor Emeritus
Sun Oct 19, 2014 1:59 pm
 
Forum: Personal Consumer Issues
Topic: Computer codes availability at indep. repair garages?
Replies: 42
Views: 1793

Re: Considering a more aggressive AA than age = bonds

Just remember your overall asset structure drives your portfolio asset analysis. e.g. what percentage of your overall assets are in your portfolio? We are retired so calculation is easy. We have no human capital. In our case for example DW and I both have pensions and social security and we own our ...
by Professor Emeritus
Sun Oct 19, 2014 12:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Considering a more aggressive AA than age = bonds
Replies: 41
Views: 3244

Re: POLL: How fulfilling is your retirement?

DW was suddenly disabled. I retired to be her full time caretaker . Is it fulfilling YES. Do I struggle YES. The poll seem slanted in favor of the able bodied/non disabled who have free choices. My position is similar. I retired early because of an ill spouse. (Actually, this gave me an unfortunate...
by Professor Emeritus
Sun Oct 19, 2014 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: How fulfilling is your retirement?
Replies: 29
Views: 2230

Re: The Final, Definitive Thread on Rebalancing

FreddieG wrote:I rebalance by turning off the news using alternating left and right index fingers on the remote.


My mother used to say that a balanced diet was a cannoli in each hand.
by Professor Emeritus
Sun Oct 19, 2014 10:24 am
 
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Rebalancing
Replies: 24
Views: 1803

Re: Attorney Hourly Rates?

I'm an academic attorney. My attorney is $250 hr in suburban Md. I prep the case for him as well or better than a junior in his firm. That optimizes his time. He is worth every penny I pay him.
by Professor Emeritus
Sun Oct 19, 2014 10:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Attorney Hourly Rates?
Replies: 41
Views: 2838

Re: POLL: How fulfilling is your retirement?

DW was suddenly disabled. I retired to be her full time caretaker . Is it fulfilling YES. Do I struggle YES. The poll seem slanted in favor of the able bodied/non disabled who have free choices. Just imagine a world in which MONEY is the least of your concerns. That is my world Any of you could be i...
by Professor Emeritus
Sun Oct 19, 2014 10:11 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: How fulfilling is your retirement?
Replies: 29
Views: 2230

Re: Anyone cancelling travel plans?

No, we are not cancelling any travel plans. Why should we? The only fear I have is driving to the airport 70 miles away in January in snow or ice, but even that won't stop me. . Now, if I was scheduled for a photo safari in Africa, maybe I would, but ONLY that. :twisted: :twisted: :twisted: :twiste...
by Professor Emeritus
Sat Oct 18, 2014 5:31 pm
 
Forum: Personal Consumer Issues
Topic: Anyone cancelling travel plans?
Replies: 114
Views: 5622

Re: Why do people use age instead of life expectancy?

StarbuxInvestor wrote:Age is based in reality while life expectancy is a fictitious construct.



ALL past stock performaces are the same kind of reality, just like the brilliance of financial advisors in the past.
sucker bait
by Professor Emeritus
Sat Oct 18, 2014 11:48 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2869

Re: Why do people use age instead of life expectancy?

"Why do people use age instead of life expectancy?" Because anything beyond any rough rule of thumb is all meaningless false precision. Probably sparked by resistance to accepting uncertainty. The difference in average life expectancy at age 65 between men and women is less than 3 years U...
by Professor Emeritus
Sat Oct 18, 2014 11:46 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2869

Re: What to do with Mom's IRA

Stan Dup wrote:[OT comment removed by admin LadyGeek]


In some cases Couples share accounts.
Or expertise in one area does not transfer to others
Let's be nice :happy
by Professor Emeritus
Sat Oct 18, 2014 8:12 am
 
Forum: Investing - Help with Personal Investments
Topic: What to do with Mom's IRA
Replies: 8
Views: 852

Re: Home Depot Warranty not honored

I bought a bathroom sink faucet from Home Depot a few years ago, and the finish started coming off. It took months of their saying it was the manufacturer's problem and cycling around before I got a refund. Not buying from them in the future. I go to Lowe's now. That sounds like it is the MFGs prob...
by Professor Emeritus
Sat Oct 18, 2014 8:09 am
 
Forum: Personal Consumer Issues
Topic: Home Depot Warranty not honored
Replies: 26
Views: 2978

Why do people use age instead of life expectancy?

I have always found the "age in bonds" discussions a bit bizarre. Your age as such MEANS NOTHING from an investment point of view. It is a useless factoid. It is being used as a proxy for life expectancy by people whose Victorian delicacy prohibits talking about death. . So the question is...
by Professor Emeritus
Sat Oct 18, 2014 8:02 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2869

Re: Question - Being a Trustee

Thanks for your responses. I will talk to my friend and his attorney about how my accountability can be limited (i.e. not make any business decisions - officers of the company would be responsible for that). I have been under the assumption that if I do not gain a single penny from the trust then I...
by Professor Emeritus
Fri Oct 17, 2014 5:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question - Being a Trustee
Replies: 19
Views: 1215

Re: How would one negotiate with daycare?

Lets clarify to help the original poster and not derail the topic. This is also the standard terms (at least in my region of the country) when it comes to the business of daycare. Center: Commerical property, building where employees watch the kids In-Home: Residential property in which the busines...
by Professor Emeritus
Fri Oct 17, 2014 3:32 pm
 
Forum: Personal Consumer Issues
Topic: How would one negotiate with daycare?
Replies: 33
Views: 2885

Re: Is it possible to have a favorite movie

:) My first movie date with DW was Cabaret in 1972. Both DW and Movie are still favorites :happy
by Professor Emeritus
Fri Oct 17, 2014 10:50 am
 
Forum: Personal Consumer Issues
Topic: Is it possible to have a favorite movie
Replies: 82
Views: 2971

Re: How would one negotiate with daycare?

I think you are confusing a nanny with someone who run an in-home daycare business. Our in-home providers have been entirely self-employed. They dictate their hours, how many kids (within legal reason) they care for, their policies, their holiday schedules, etc. They pay their employment taxes. The...
by Professor Emeritus
Fri Oct 17, 2014 10:47 am
 
Forum: Personal Consumer Issues
Topic: How would one negotiate with daycare?
Replies: 33
Views: 2885

Re: Siren song of increased stock allocation

ogd wrote:
StarbuxInvestor wrote:Where to start, where to start.

You could start by ordering decaf for your next cup :beer

.


:happy :D Now you are getting nasty :happy :D
by Professor Emeritus
Fri Oct 17, 2014 5:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Siren song of increased stock allocation
Replies: 38
Views: 2876

Re: How would one negotiate with daycare?

As for in-home care, we did tried to explore the options, but it was a pain to do it legally. I like to know how others have handle in-home. Paul Legally, I'm not aware of any issues with in-home care. They are self-employed and handle all their own taxes. My providers have had their own tax IDs an...
by Professor Emeritus
Thu Oct 16, 2014 7:06 pm
 
Forum: Personal Consumer Issues
Topic: How would one negotiate with daycare?
Replies: 33
Views: 2885

Re: Question - Being a Trustee

Yes, you could be held personally liable for your actions as a trustee and put your assets at risk. That is one of the major advantages of a corporate trustee with deep pockets. Gill +1 This is especially true if the trust is operational e.g. running a business. When I have been a trustee the oblig...
by Professor Emeritus
Thu Oct 16, 2014 6:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question - Being a Trustee
Replies: 19
Views: 1215

Re: Best place (with warm weather) to raise children

Can't help with much else but remember that "good" schools are schools that outperform the parental demographics. Otherwise the schools just take credit for the educating the offspring of high income well educated parents.
by Professor Emeritus
Thu Oct 16, 2014 3:45 pm
 
Forum: Personal Consumer Issues
Topic: Best place (with warm weather) to raise children
Replies: 64
Views: 3777

Re: Helping cash poor, land rich relative

I think of it this way.....you're on an airplane and the cabin depressurizes and the air masks drop. Do you put the mask on the child first, perhaps taking enough time where you pass out......and perhaps don't get the mask on the child or do you put the mask on yourself first.....then attend to the...
by Professor Emeritus
Thu Oct 16, 2014 10:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Helping cash poor, land rich relative
Replies: 24
Views: 3881

Re: Relatively new here. What did you do in 2008/09

I had just started working and kept putting a higher percentage into my retirement fund. It was weird because I remember my boss asking if I wanted to decrease my contribution percentage since I started making more in salary. Obviously, I told him no. I have noticed while the "stay the course,...
by Professor Emeritus
Thu Oct 16, 2014 5:08 am
 
Forum: Investing - Help with Personal Investments
Topic: Relatively new here. What did you do in 2008/09
Replies: 106
Views: 6701

Re: Mortgage from family member

FWIW in our case it worked fine, absolutely no problem. We bought our house from my parents. My inlaws provided CDs as additional security for the first 5 years. 25 year mortgage,paid it off in 12. (lots of incentive to pay off a family mortgage, at least in our case. ) We made outright gifts to our...
by Professor Emeritus
Wed Oct 15, 2014 7:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage from family member
Replies: 21
Views: 1636

Re: Shuffling between TSP, Edward Jones, and Vanguard

The Wizard wrote:We're not big fans of EJ here...


:happy I love understatement. I mean EJ is not in the same category as violent criminals but they probably have the same number of fans her. :happy
by Professor Emeritus
Sat Sep 20, 2014 9:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Shuffling between TSP, Edward Jones, and Vanguard
Replies: 14
Views: 1397

Re: Sale of a home between boyfriend and girlfriend.

folks , the facts as presented would support an extremely wide range of legal results. You don't know the facts so I suggest avoiding comments on the law.
by Professor Emeritus
Sat Sep 20, 2014 9:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Sale of a home between boyfriend and girlfriend.
Replies: 79
Views: 5708

Re: Are SPIA's fairly priced? - A quick and dirty analysis

There is something called Medical Underwriting, which I know nothing about personally, whereby a person with serious illness can get a personalized annuity quote (more $$ per month) based on a shorter expected lifespan, but I can't imagine that person would consider annuitization to begin with... I...
by Professor Emeritus
Sat Sep 20, 2014 9:16 am
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3641

Re: When did you feel "Out of the woods"?

When I was 40 years old I knew the kids would go to college and we would never lose the house even if i became totally disabled and could not work. When I was 50 years old I knew we could retire modestly even if I never worked again. When I hit 60 my wife was disabled and we went back into the woods...
by Professor Emeritus
Fri Sep 19, 2014 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: When did you feel "Out of the Woods"?
Replies: 42
Views: 5447

Re: Time Has Gone Quickly, 3 Months Till Retirement

Congratulations on your imminent retirement :) . We are age 69, retired 3 years, and comfortable with a 50/50 asset allocation. We haven't changed the allocation since about 3 years before retirement. Find your comfort level, and stick with it. Give up on the idea of market timing. Agree but lets b...
by Professor Emeritus
Fri Sep 19, 2014 3:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Time Has Gone Quickly, 3 Months Till Retirement
Replies: 31
Views: 3962

Re: Are SPIA's fairly priced? - A quick and dirty analysis

I tend to agree with Prof Emeritus' sources that annuitizing is a beneficial concept but nonetheless, I would really like to know what the Insurance Company's cut on a typical SPIA is. Stated more simply: If an actuarily perfect SPIA for a certain set of conditions yields $1000 a month for life, wh...
by Professor Emeritus
Fri Sep 19, 2014 3:19 pm
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3641

Re: Are SPIA's fairly priced? - A quick and dirty analysis

I tend to agree with Prof Emeritus' sources that annuitizing is a beneficial concept but nonetheless, I would really like to know what the Insurance Company's cut on a typical SPIA is. Stated more simply: If an actuarily perfect SPIA for a certain set of conditions yields $1000 a month for life, wh...
by Professor Emeritus
Fri Sep 19, 2014 3:17 pm
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3641

Re: Are SPIA's fairly priced? - A quick and dirty analysis

The longer I'm around, the more I realize that annuities are a great deal for insurance companies. Not so for the average annuitant. Well qualified scholars disagree , and attribute the failure to annuitize to "psychological or behavior issues" These results imply that annuities are quite...
by Professor Emeritus
Fri Sep 19, 2014 2:22 pm
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3641

Re: Immediate payable annuity is a bad investment?

Frugal Al wrote: And yes, for most annuities sold (including many SPIAs), the insurance companies do make huge rates of return and pay a pittance to the old folks--it's what they do. .


Citation?
by Professor Emeritus
Fri Sep 19, 2014 7:47 am
 
Forum: Investing - Theory, News & General
Topic: Immediate payable annuity is a bad investment?
Replies: 45
Views: 2695

Re: Alibaba is NOT coming to an index near you

Wouldn't it be in the total world index? As what? How good they are at keeping the elite "content"? Beyond page 19 of the document, though, lies a stark reminder that investing in a Chinese company - especially one as sprawling as Alibaba - is also a wager on how well it can get along wit...
by Professor Emeritus
Fri Sep 19, 2014 6:05 am
 
Forum: Investing - Theory, News & General
Topic: Alibaba is NOT coming to an index near you
Replies: 33
Views: 3685

Re: Alibaba is NOT coming to an index near you

[OT comments removed by admin LadyGeek]
by Professor Emeritus
Fri Sep 19, 2014 5:16 am
 
Forum: Investing - Theory, News & General
Topic: Alibaba is NOT coming to an index near you
Replies: 33
Views: 3685

Re: A safe full of cash

If you are a criminal and on the run CASH is KING.

For anyone else cash makes you the target. The more desperate the situation, the less it takes to make it worth it to kill you .
by Professor Emeritus
Fri Sep 19, 2014 5:00 am
 
Forum: Investing - Help with Personal Investments
Topic: A safe full of cash
Replies: 22
Views: 3081

Re: cost of raising a child by age group

just had our first child a month ago :D so wanted to get an idea of whats to come financially. obviously raising a child is very expensive but I was looking to see which age group is generally the most expensive and which is the least (if there is such a thing). so based on your experience, how wou...
by Professor Emeritus
Fri Sep 19, 2014 4:13 am
 
Forum: Personal Consumer Issues
Topic: cost of raising a child by age group
Replies: 27
Views: 2572

Re: Immediate payable annuity is a bad investment?

Annuities are very Bogle. They get you the low risk market rate of return on an actuarial risk of longevity. They are Bogleheadish if the fees are low enough. The fees from most companies are obscene. But I suppose that's not so different from mutual funds. I agree that annuities have to be "f...
by Professor Emeritus
Thu Sep 18, 2014 4:26 pm
 
Forum: Investing - Theory, News & General
Topic: Immediate payable annuity is a bad investment?
Replies: 45
Views: 2695

Re: Immediate payable annuity is a bad investment?

If the Forbes author was anything other than a charlatan, he would go into the business of SELLING annuities. It would be such easy money. Make huge rates of return and pay a pittance to the old folks Except that he is a charlatan and it isn't easy money. According to him pension funds should have n...
by Professor Emeritus
Thu Sep 18, 2014 3:34 pm
 
Forum: Investing - Theory, News & General
Topic: Immediate payable annuity is a bad investment?
Replies: 45
Views: 2695

Re: Rental property with in-laws: please help!

It looks to me like this came about while you were trying to aquire a loan for a house. If the only impact of this mess on aquiring the new house is that it went up 50bp, I would continue to get the new house. Once you've finished the process of buying your house to live in, then your wife can stra...
by Professor Emeritus
Thu Sep 18, 2014 2:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7956

Re: Rental property with in-laws: please help!

I suspect they are feeling guilty for the horrible thing they have done, and would feel even worse if her credit is destroyed, so they will do what they can to cover everything. I call it "well-deserved emotional blackmail".. IMHO you are far too kind to the parents. I don't think they fe...
by Professor Emeritus
Thu Sep 18, 2014 3:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7956
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