Search found 525 matches

Return to advanced search

Re: Requiem for Magic Formula fund--anyone know how it did?

I'm mildly skeptical of quality factors. The value premium is impressive because it can be measured in many ways that work equally well. Price to earnings works, price to book works, cash flow to book works, EBIT/EV works, EBITDA/EV works, price to employees works, and taking rolling averages sever...
by RNJ
Wed Apr 23, 2014 10:55 am
 
Forum: Investing - Theory, News & General
Topic: Requiem for Magic Formula fund--anyone know how it did?
Replies: 6
Views: 468

Re: Security Risk in Donating Appreciated Vanguard Shares

jebmke wrote:We do everything through a VG DAF. Online donation of securities, online grants to charities. No fuss, no muss.


Very simple and has worked very well.
by RNJ
Tue Apr 22, 2014 5:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Security Risk in Donating Appreciated Vanguard Shares
Replies: 6
Views: 320

Re: Last Minute Denali Trip - Where to find lodging?!

We stayed here about 12 years ago: http://www.earthsonglodge.com/index.html Enjoyed it very much (especially if you like dogs). Relatively close to where you get the bus ride into the park. My wife and I stayed there in early Fall of 2003. A GREAT experience. Very close to the park, beautiful spot,...
by RNJ
Mon Apr 21, 2014 11:20 am
 
Forum: Personal Consumer Issues
Topic: Last Minute Denali Trip - Where to find lodging?!
Replies: 13
Views: 937

Re: Global Minimum Volatility Fund

I can see where a fund like this might be a good diversifier in the context of a portfolio in theory , in that it is designed to act differently than other asset classes. The question in this regard would seem to be whether it is different enough when you need it to be. But as a stand-alone holding,...
by RNJ
Sun Apr 20, 2014 6:57 pm
 
Forum: Investing - Theory, News & General
Topic: Global Minimum Volatility Fund
Replies: 29
Views: 1783

Re: What Muni Bond in Taxable Brokerage Account

similar discussion on NJ muni bond options: http://www.bogleheads.org/forum/viewtopic.php?f=1&t=135687&newpost=2004918 What is the name of the bond fund that Larry recommends, with higher credit quality? I don't know if LS has actually recommended this fund (Baird Intermediate Muni / BMBIX)...
by RNJ
Sun Apr 20, 2014 4:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: What Muni Bond in Taxable Brokerage Account
Replies: 7
Views: 737

Re: A Dictionary and a World Atlas: Recommendations?

Bryan Garner (http://en.wikipedia.org/wiki/Bryan_A._Garner) recommends Merriam Webster 11th, American Heritage 5th and New Oxford American. I prefer the last.
by RNJ
Sat Apr 19, 2014 2:27 pm
 
Forum: Personal Consumer Issues
Topic: A Dictionary and a World Atlas: Recommendations?
Replies: 14
Views: 764

Re: Beware Vanguard DOES NOT update all your account values

Our 401k is with Fidelity and we have it listed in the "Outside Accounts" section of our holdings in the Vanguard account view. And yes, the Vanguard page is typically a day behind in updating the 401k information even though it is mostly invested in a Vanguard fund (intermediate treasury ...
by RNJ
Sat Apr 19, 2014 11:49 am
 
Forum: Investing - Theory, News & General
Topic: Beware Vanguard DOES NOT update all your account values
Replies: 56
Views: 4477

Re: Using Valuations for Asset Allocation

I do use valuations, but only at the margins - for example, tilting slightly to International Value and EM over US on the equity side. Still, these "tilts" are within the rebalancing bands I established in my IPS.
by RNJ
Fri Apr 18, 2014 9:53 am
 
Forum: Investing - Theory, News & General
Topic: Using Valuations for Asset Allocation
Replies: 12
Views: 520

Re: Ultimate Buy and Hold - 8 slices vs 4

Merriman has just published a series of articles on Marketwatch http://www.marketwatch.com/story/bonds-buy-sell-or-hold-2014-03-26 http://www.marketwatch.com/story/6-steps-to-the-ultimate-retirement-portfolio-2014-04-09 http://www.marketwatch.com/story/retirement-savers-fine-tune-your-asset-allocat...
by RNJ
Wed Apr 16, 2014 5:50 pm
 
Forum: Investing - Theory, News & General
Topic: Ultimate Buy and Hold - 8 slices vs 4
Replies: 568
Views: 195771

Re: Children Savings Account [Money Received on Child's Beha

I wanted to see what boggelheads do with money they receive on behalf of their children. ... I have a three-year old and a one-year old and I get money on their birthday, Easter, etc. To-date, unfortunately, I have been plowing it into a savings account that earns them over a dollar but I don't thi...
by RNJ
Tue Apr 15, 2014 2:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Children Savings Account [Money Received on Child's Behalf]
Replies: 11
Views: 637

Re: Children Savings Account [Money Received on Child's Beha

We use the children's gifts (kids are 6 & 8) towards summer camp, school, music lessons, activities and other "growthy" stuff. We are (so far) very pleased with the returns :)

Good luck!
by RNJ
Tue Apr 15, 2014 9:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Children Savings Account [Money Received on Child's Behalf]
Replies: 11
Views: 637

Re: The Case for Dividend Stocks in Retirement (article)

To be clear - I'm not an advocate of this strategy. Rather, I posted the article as the issue is one that comes up quite a bit here and JC brings a different point of view to the discussion.
by RNJ
Sun Apr 13, 2014 11:11 pm
 
Forum: Investing - Theory, News & General
Topic: The Case for Dividend Stocks in Retirement (article)
Replies: 27
Views: 2249

The Case for Dividend Stocks in Retirement (article)

By none other than Jonathan Clements in the WSJ: "It's OK to spend your income, but never, ever dip into capital. Remember that old financial commandment? It was discarded long ago as a fuddy-duddy rule that doesn't work in our low-yield world. But as I ponder retirement, focusing on dividend-p...
by RNJ
Sun Apr 13, 2014 10:39 pm
 
Forum: Investing - Theory, News & General
Topic: The Case for Dividend Stocks in Retirement (article)
Replies: 27
Views: 2249

Re: Mother Of Bog! I'm Uncertain/Frightened To Buy Fund

Re: Single Premium Immediate Annuities (SPIA):

Check out this recent thread: http://www.bogleheads.org/forum/viewtopic.php?f=10&t=137066

Hope that helps.
by RNJ
Sun Apr 13, 2014 10:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: I Really Would Appreciate Your Advice!
Replies: 72
Views: 2725

Re: Mother Of Bog! I'm Uncertain/Frightened To Buy Fund

You need a guaranteed income to cover a guaranteed lifetime shortfall. Neither fund you mention (or any other fund) will get you there. Isn't this what annuities are made for?
by RNJ
Sun Apr 13, 2014 10:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: I Really Would Appreciate Your Advice!
Replies: 72
Views: 2725

Re: TIPS and the Equity Bear

My understanding is that TIPS were dumped as part of a liquidity crisis rather than as a result of inflation expectations.
by RNJ
Sun Apr 13, 2014 5:17 pm
 
Forum: Investing - Theory, News & General
Topic: TIPS and the Equity Bear
Replies: 20
Views: 1602

Re: Software for Own Investing Plan/Rebalance

I set this up on Google docs spreadsheet.
by RNJ
Sun Apr 13, 2014 2:52 pm
 
Forum: Investing - Theory, News & General
Topic: Software for Own Investing Plan/Rebalance
Replies: 11
Views: 683

Re: A Bubble in Value Stocks?

1) Does your chart show inflows or assets under management? Put another way, are we looking at inflows + returns or simply inflows? It shows both. I haven't been able to find inflows data yet for more than two years. I'll keep looking! 2) I absolutely see and share your concern about the value metr...
by RNJ
Sun Apr 13, 2014 9:15 am
 
Forum: Investing - Theory, News & General
Topic: A Bubble in Value Stocks?
Replies: 31
Views: 2466

Re: Cambria Global Value - Value Tilt

Mebane Faber is smart student of the market and the funds he directs, (SYLD, Shareholder Yield Fund, US equity) and this international fund both have a heavy slant toward value and also toward what he calls shareholder yield (which is dividend rate plus net share repurchases (repurchases minus new ...
by RNJ
Sat Apr 12, 2014 5:01 pm
 
Forum: Investing - Theory, News & General
Topic: Cambria Global Value - Value Tilt
Replies: 22
Views: 1253

Re: EM - Quietly Making a comeback

Since 3/21/14 (3 weeks time): DFEVX (emerging markets) = +7.9% VSIAX (domestic SCV) = -3.7% PXH (Fundamental EM) = +11.0% Those are some pretty large spreads for only 3 weeks. It does indeed look like EM large caps have some positive momentum and US small cap stocks have negative momentum. Fun to w...
by RNJ
Sat Apr 12, 2014 6:28 am
 
Forum: Investing - Theory, News & General
Topic: EM - Quietly Making a comeback
Replies: 9
Views: 1565

Re: Cambria Global Value - Value Tilt

99 stocks?
by RNJ
Fri Apr 11, 2014 8:44 am
 
Forum: Investing - Theory, News & General
Topic: Cambria Global Value - Value Tilt
Replies: 22
Views: 1253

Re: A Bubble in Value Stocks?

Bernston - yet another nice post! Thoughts and questions: 1) Does your chart show inflows or assets under management? Put another way, are we looking at inflows + returns or simply inflows? 2) I absolutely see and share your concern about the value metrics of VBR vis a vis the broad market. But the ...
by RNJ
Fri Apr 11, 2014 8:25 am
 
Forum: Investing - Theory, News & General
Topic: A Bubble in Value Stocks?
Replies: 31
Views: 2466

Re: Rebalancing the whys and hows of it

Bobcat One year or even two of returns say 5 or 6% away from your base assumption likely would not change the outcomes of MCS very much, more noise than anything else. However a year like last year does matter. Best wishes Larry The way my mind/instinct works, much of this doesn't matter until you ...
by RNJ
Thu Apr 10, 2014 9:47 am
 
Forum: Investing - Theory, News & General
Topic: Rebalancing the whys and hows of it
Replies: 25
Views: 2277

Re: Rebalancing the whys and hows of it

It appears that rebalancing and AA decisions are joined at the hip year after year. BobK Great discussion. Thanks to Larry and Bob for engaging in a way that is so instructive. The above quote nicely captures the dynamic relationship between expected returns, actual returns, rebalancing, risk (and ...
by RNJ
Thu Apr 10, 2014 8:45 am
 
Forum: Investing - Theory, News & General
Topic: Rebalancing the whys and hows of it
Replies: 25
Views: 2277

Re: Best Tax free Muni Bond fund

I prefer the Baird Institutional Intermediate Municipal Bond Fund (BMBIX), but either it or the admiral shares of Vanguard intermediate or Limited would be my next choice. The Baird Fund has a slightly lower duration and holds higher quality, safer bonds (AAA and prerefunded) than the Vanguard inte...
by RNJ
Thu Apr 10, 2014 8:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Best Tax free Muni Bond fund
Replies: 4
Views: 519

Re: "Why do investors make bad choices?"

Thanks for the link. This should make it clear that investors will make mistakes, even if very knowledgeable about behavior. The problem is we can think very rationally when stress and emotions aren't in play, but when they are, rationality gets thrown out the window. Paul I might have posted this ...
by RNJ
Wed Apr 09, 2014 2:07 pm
 
Forum: Investing - Theory, News & General
Topic: "Why do investors make bad choices?"
Replies: 23
Views: 1623

"Why do investors make bad choices?"

A nice article by Cass Sunstein (co-author of "Nudge") from Bloomberg. He begins with a personal example . . . "For many years, I have studied human behavior, including the mistakes occasionally made by fallible people, including investors. But a few years ago, I made a really dumb in...
by RNJ
Wed Apr 09, 2014 8:34 am
 
Forum: Investing - Theory, News & General
Topic: "Why do investors make bad choices?"
Replies: 23
Views: 1623

Re: Rebalancing the whys and hows of it

Thanks, Larry. Clarification and reiteration on this topic are always helpful.
by RNJ
Tue Apr 08, 2014 9:30 am
 
Forum: Investing - Theory, News & General
Topic: Rebalancing the whys and hows of it
Replies: 25
Views: 2277

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

I am richer than he because . . . he buys expensive, actively managed funds.
by RNJ
Fri Apr 04, 2014 11:45 am
 
Forum: Investing - Theory, News & General
Topic: Please help identify quote: I'm richer than he because...
Replies: 28
Views: 2778

Re: Should I be scared of viov [Vanguard small-cap value 600

If your trades are relatively small VIOV should be fine.
by RNJ
Thu Apr 03, 2014 10:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I be scared of viov [Vanguard small-cap value 600]
Replies: 12
Views: 841

Re: Which Muni Bond Fund in Taxable account ??

Baird Intermediate Municipal (BMBIX).
by RNJ
Thu Apr 03, 2014 8:58 pm
 
Forum: Investing - Theory, News & General
Topic: Which Muni Bond Fund in Taxable account ??
Replies: 14
Views: 1353

Re: Should I be scared of viov [Vanguard small-cap value 600

If you have a Vanguard brokerage account you can certainly buy IJS. Same index as VIOV.
by RNJ
Thu Apr 03, 2014 8:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I be scared of viov [Vanguard small-cap value 600]
Replies: 12
Views: 841

Re: Should I be scared of viov

Go with IJS. Same index, better volume, smaller spreads. VIOV can be a bit of a pain to trade.
by RNJ
Thu Apr 03, 2014 6:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I be scared of viov [Vanguard small-cap value 600]
Replies: 12
Views: 841

Re: The case against small cap value

A couple of thoughts, offered in part as a check on my own thinking. 1) When tilting to small cap value, one is making a choice to tilt towards a riskier asset class, with risk here defined as greater volatility. M* shows the 10 year SD for VBR to be 19.6 and the beta 1.27, but "only" 15.2...
by RNJ
Thu Apr 03, 2014 9:19 am
 
Forum: Investing - Theory, News & General
Topic: The case against small cap value
Replies: 53
Views: 5147

Re: Reallocate gains from volatile fund?

^ I agree.

But perhaps what you're asking is, "what should my rebalancing plan be?" Search the site for "rebalancing" and check out the wiki. Lots of detailed information to help you get where you need to go.

Good luck.
by RNJ
Wed Apr 02, 2014 4:09 am
 
Forum: Investing - Theory, News & General
Topic: Reallocate gains from volatile fund?
Replies: 6
Views: 360

Re: Bogle: Tilt To Corporates For More Yield

Chasing yield is a very human thing. At any given time, one can add riskier assets to get more yield expectantly........ Unless Until the risk shows up. Then you get the hit. So sure, as worldwide, debt to GDP ratios go up in the west, start moving on the risk curve for yield... Surely no possible ...
by RNJ
Tue Apr 01, 2014 11:46 pm
 
Forum: Investing - Theory, News & General
Topic: Bogle: Tilt To Corporates For More Yield
Replies: 64
Views: 6189

Re: blog on munis thought would be of interest

Full disclosure: I ask as an interested party. What I should have said was that I own Baird, and for the reasons you outlined. personally I would prefer the higher quality bond fund. In financial crises you want that lower correlation that higher quality brings. In addition it's more in line with m...
by RNJ
Tue Apr 01, 2014 8:21 pm
 
Forum: Investing - Theory, News & General
Topic: blog on munis thought would be of interest
Replies: 10
Views: 1082

Re: Bogle: Tilt To Corporates For More Yield

I totally agree with Bogle on emphasizing corporates over Treasuries in current bond portfolios. I own no Treasuries or TIPS at all, only corporates in my tax-advantaged accounts and either money market or munis in my taxable personal account. There is some increased repayment risk in investment gr...
by RNJ
Tue Apr 01, 2014 2:16 pm
 
Forum: Investing - Theory, News & General
Topic: Bogle: Tilt To Corporates For More Yield
Replies: 64
Views: 6189

Re: blog on munis thought would be of interest

Larry, Informative as always - thank you for the post. One question: With respect to muni funds, VG Intermediate TE fund, though similar to the VG Int Treasury fund in duration, is dissimilar in credit quality (avg A according to M*) with a low proportion of prerefunded holdings. Might Baird Interme...
by RNJ
Tue Apr 01, 2014 10:59 am
 
Forum: Investing - Theory, News & General
Topic: blog on munis thought would be of interest
Replies: 10
Views: 1082

Re: Switching to Treasury Fund

I use SCHR and VFIUX (VG Int Treas Adm) in different accounts. Trading SCHR has not been a problem and the duration is very close to the VG fund. Note that the duration for IEI is a bit shorter: 4.47 vs 5.16 and 5.24 for the Schwab and VG funds, respectively.
by RNJ
Mon Mar 31, 2014 11:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Switching to Treasury Fund
Replies: 9
Views: 1150

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

Here is a link to a NY Times Magazine article giving more depth with a less sensationalist tone: http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html?hp If you read, take note of the references to cultural differences between Canadian and US trading operations, attitudes towards ...
by RNJ
Mon Mar 31, 2014 10:42 am
 
Forum: Investing - Theory, News & General
Topic: 60 Minutes 3-30-14: Michael Lewis book "Flash Boys"
Replies: 70
Views: 2533

Re: Do you have hardwood or tile in your kitchen?

Tile - but switching it out for hardwood over next couple of months. Tile is loud, unforgiving, and uncomfortable to work of foa any length of time. Also, hardwood NEVER goes out of style.
by RNJ
Sat Mar 29, 2014 1:16 pm
 
Forum: Personal Consumer Issues
Topic: Do you have hardwood or tile in your kitchen?
Replies: 57
Views: 3120

Re: Were These Investment Advisors Lying or Incompetent?

Those fees are brutal. 1.25 + 2.0 = 3.25% So let's look at expected ending balance for a $1 million balanced portfolio, averaging 7% before fees, for 50 years. - No Fees: $29.5 million (In Excel: =1.07^50) - 3.25% Fees: $6.3 million (In Excel: =1.0375^50) So over the next 50 years, you can expect M...
by RNJ
Thu Mar 27, 2014 8:56 am
 
Forum: Investing - Help with Personal Investments
Topic: Were These Investment Advisors Lying or Incompetent?
Replies: 90
Views: 5896

Re: Were These Investment Advisors Lying or Incompetent?

Those fees are brutal. 1.25 + 2.0 = 3.25% So let's look at expected ending balance for a $1 million balanced portfolio, averaging 7% before fees, for 50 years. - No Fees: $29.5 million (In Excel: =1.07^50) - 3.25% Fees: $6.3 million (In Excel: =1.0375^50) So over the next 50 years, you can expect M...
by RNJ
Thu Mar 27, 2014 7:51 am
 
Forum: Investing - Help with Personal Investments
Topic: Were These Investment Advisors Lying or Incompetent?
Replies: 90
Views: 5896

Re: Non-profit endowment: VG LifeStrategy?

Thanks all for your responses. After hearing about interviewing advisors, their fees, their "volunteering" to help the organization write an IPS and and develop an investment philosophy, I was struck by how obvious and simple a solution this approach could be. Almost too good to be true. A...
by RNJ
Mon Mar 24, 2014 11:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Non-profit endowment question
Replies: 7
Views: 537

Non-profit endowment question

I sit on the board of a non-profit, and am about to join the investment committee. We are transitioning away from a longstanding relationship with a very traditional, stock- and bond-picking manager. There are a number of philosophical issues to work out, and I'm not sure I can get "there"...
by RNJ
Mon Mar 24, 2014 6:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Non-profit endowment question
Replies: 7
Views: 537

Re: Really confused by Bernstein

"Now, let's say that instead of a $5 million portfolio, you have $1 million portfolio. Now you cover your needs by a factor of 20. Really, in that situation, if you want to retire at that point, there's only one thing you should be doing, and that's to take that money and probably either buy a...
by RNJ
Mon Mar 24, 2014 1:28 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12897

Re: Have extra cash: Should I pay off the HOUSE or INVEST it

From an investment perspective, using funds to off a long term fixed rate 3.375% tax deductible loan is a terrible use of funds. First of all, understand that you've already bought the home - you own that investment, it will appreciate or depreciate regardless of how/when you pay off the mortgage. ...
by RNJ
Sun Mar 23, 2014 4:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have extra cash: Should I pay off the HOUSE or INVEST it?
Replies: 31
Views: 2773

Re: TIPS Intermediate Fund vs. International Bond Fund

Fidelity's Inflation-Protected Bond Index Fund has a duration of 5.58 years: https://fundresearch.fidelity.com/mutual-funds/composition/316146125 To bad Vanguard does not offer a index offering with a lower duration like Fidelity. No it doesn't, but if you have an account at Vanguard you can buy th...
by RNJ
Sat Mar 22, 2014 10:46 am
 
Forum: Investing - Theory, News & General
Topic: TIPS Intermediate Fund vs. International Bond Fund
Replies: 35
Views: 2782

Re: 401k switched to Fidelity. Which Bond Fund...

jw11 wrote:sorry...here are the FEES


BTC TIPS Index K (Blackrock)....................... 0.08 %
BTC US Debt Index W (Blackrock).............. ... 0.05 %
TCW Core Fixed Income (symbol TGCFX)........ 0.49 %


Looks like you have a winner!
by RNJ
Sat Mar 15, 2014 9:05 am
 
Forum: Investing - Help with Personal Investments
Topic: 401k switched to Fidelity. Which Bond Fund...
Replies: 19
Views: 1390
Next

Return to advanced search