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These "gems."

Tortoise Banker wrote:I really, really, really like these gems. What a nice treat!

Tortoise Banker:

I really, really, really appreciate your post.

Thank you and best wishes.
Taylor
by Taylor Larimore
Wed Aug 27, 2014 10:28 pm
 
Forum: Investing - Theory, News & General
Topic: "The Bogleheads' Guide to Investing -- Second Edition"
Replies: 37
Views: 5224

BOGLEHEAD CONTEST -- S&P 500 Index at record 2000

Bogleheads: Today the S&P 500 Index closed at 2000.12 -- a major milestone and all-time record high. We have six Bogleheads and one Wall Street Guru who forecast 2000 at year-end: 1 JoMoney 2000.02 2 Bank of America 2000.00 2 r60rider 2000.00 2 Brian96 2000.00 2 RPC1976 2000.00 2 artthomp 2000.0...
by Taylor Larimore
Wed Aug 27, 2014 5:17 pm
 
Forum: Investing - Theory, News & General
Topic: BOGLEHEAD CONTEST -- S&P 500 Index at record 2000
Replies: 2
Views: 488

Re: Help with portfolio

NKOTB:

Welcome to the Bogleheads Forum!

We need more information if we are to give you informed suggestions. Please edit your post as described in the link below (use the "EDIT" button at the top of your window).

ASKING PORTFOLIO QUESTIONS

Thank you and best wishes.
Taylor
by Taylor Larimore
Mon Aug 25, 2014 8:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with portfolio
Replies: 2
Views: 220

Re: My Portfolio, Simplicity vs Expense Ratio Optimization

A.J.: Thank you for editing your post. You have a somewhat complicated portfolio, but it seems to me that you have done an excellent job structuring it. Your portfolio enjoys a plan that is diversified, low-cost and tax-efficient. You have also considered how it should be passed on to your wife if n...
by Taylor Larimore
Mon Aug 25, 2014 5:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: My Portfolio, Simplicity vs Expense Ratio Optimization
Replies: 7
Views: 966

Happy marriages.

AO:

And thank you for your response. I wish you and your bride a long and happy marriage (as mine was).

Best wishes.
Taylor
by Taylor Larimore
Mon Aug 25, 2014 4:48 pm
 
Forum: Personal Consumer Issues
Topic: Zegna Suits
Replies: 195
Views: 6964

Bogleheads, Zegna Suits, and a $12 watch.

Hi all, I am shopping for outfit for my upcoming wedding. I like ZEGNA line, their suits are very comfortable and made in Italy from good Egyptian or Australian fabrics, The outfit from Zegna would run me about $4500, is this too pricy? I tried on Armani, Boss, Canelli, but these definitely do not ...
by Taylor Larimore
Mon Aug 25, 2014 3:52 pm
 
Forum: Personal Consumer Issues
Topic: Zegna Suits
Replies: 195
Views: 6964

"A Tale of Two Fund Giants"

How would one analyze the claim "American Funds Outperform?"

bnes:

This article in the Wall Street Journal will help answer your question:

A TALE OF TWO FUND GIANTS

Best wishes.
Taylor
by Taylor Larimore
Mon Aug 25, 2014 3:15 pm
 
Forum: Investing - Theory, News & General
Topic: How would one analyze the claim "American Funds Outperform"
Replies: 4
Views: 646

Format needs adjustment

AJ44: It is difficult to analyze your portfolio as presented. Please edit your post (use the "Edit" button) to show the percentage of each fund in your TOTAL portfolio. Percentages should total 100%. Use the percentage of each fund (of the TOTAL portfolio) in the Target and Life Cycle fund...
by Taylor Larimore
Mon Aug 25, 2014 2:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: My Portfolio, Simplicity vs Expense Ratio Optimization
Replies: 7
Views: 966

The simple, lazy, Three Fund Portfolio

I very much value a simple, lazy portfolio.

Supersaver:

If so, I suggest you look at The Three Fund Portfolio with its many advantages and its endorsement by dozens of investment authorities.

viewtopic.php?f=10&t=88005

Best wishes.
Taylor
by Taylor Larimore
Mon Aug 25, 2014 1:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buy & Hold Forever Blue Chip Stocks???
Replies: 73
Views: 3567

Mel's playful jokes

I hope Taylor finds it amusing, too!

I do.

Best wishes.
Taylor
by Taylor Larimore
Mon Aug 25, 2014 9:16 am
 
Forum: Investing - Theory, News & General
Topic: "The Bogleheads' Guide to Investing -- Second Edition"
Replies: 37
Views: 5224

Vanguard out paces DFA Small Cap Value

This is a recent post on Morningstar's Boglehead Forum: TOPIC: Vanguard small cap value etf out paces DFA’s small cap value over past ten years! Vanguard’s small cap value etf, VBR out paces DFA’s small cap value over past ten years as of 7/31/2014. Despite DFA’s patient trading, momentum filters, p...
by Taylor Larimore
Sun Aug 24, 2014 10:05 pm
 
Forum: Investing - Theory, News & General
Topic: Slice n Dicers: How much have you outperformed?
Replies: 20
Views: 2408

"Getting Started"

Goplan: Welcome to the Bogleheads Forum! Before selecting funds for your portfolio (the last step in the investment process) it is important to understand how Bogleheads invest successfully. We have prepared this link for new investors like yourself: GETTING STARTED After reading the article and its...
by Taylor Larimore
Sun Aug 24, 2014 9:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: [Help with] The Three Fund Portfolio
Replies: 2
Views: 552

Thanks to Jack Bogle we can buy very diversified index funds

Supersaver: When I started investing 50 years ago, the S&P 500 was under 20. Today, it is close to 2,000 (not including dividends). There were no index fund mutual fund for investors then, but thanks to Jack Bogle you can buy the S&P 500 stocks and the total U.S. stock market today!! Best wi...
by Taylor Larimore
Sun Aug 24, 2014 5:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buy & Hold Forever Blue Chip Stocks???
Replies: 73
Views: 3567

Mr. Bogle's creation now #1

dickenjb wrote:One word (or ticker really) - VTSAX. That is what I have my kids invested in.

dickenjb:

Mr. Bogle's Total Stock Market Index Fund (VTSAX) is now the largest mutual fund in the world (with good reason).

Supersaver: Check this out:

The Three Fund Portfolio

Best wishes.
Taylor
by Taylor Larimore
Sun Aug 24, 2014 2:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buy & Hold Forever Blue Chip Stocks???
Replies: 73
Views: 3567

stocks or mutual funds?

Buy and hold forever Blue Chip Stocks? Supersaver: I think it is nearly always a mistake to hold individual stocks instead of a diversified mutual fund. Mike Piper explains: By investing in a broadly-diversified mutual fund (for instance, Vanguard’s Total Stock Market Index Fund, which includes ove...
by Taylor Larimore
Sun Aug 24, 2014 1:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buy & Hold Forever Blue Chip Stocks???
Replies: 73
Views: 3567

Bill Miller did not beat the total U.S. market 15 years in a

From Bill Sharpe's The Arithmetic of Active Management: " Properly measured , the average actively managed dollar must underperform the average passively managed dollar, net of costs." So, did Bill Miller "really" beat the market for 15 years in a row.....???? 1210: Mr. Miller b...
by Taylor Larimore
Sat Aug 23, 2014 2:31 pm
 
Forum: Investing - Theory, News & General
Topic: When did you hear of Bill Miller and Legg Mason Value Trust?
Replies: 32
Views: 2316

Re: Paperback of The Bogleheads' Guide to Investing, 2nd Ed.

Mel & Taylor, Do you know if/when this will be available as a Kindle MatchBook? I'd like both the hardcover and the kindle versions, but as a Boglehead, I'm too cheap to spring for both at full price. :D Targ: Sorry, I don't know the answer to your question. Perhaps the public library will have...
by Taylor Larimore
Fri Aug 22, 2014 3:40 pm
 
Forum: Investing - Theory, News & General
Topic: Paperback of The Bogleheads' Guide to Investing, 2nd Ed.?
Replies: 34
Views: 3088

Moving comments

Victoria: I have a friend who recently moved from Oregon to Maine. She offers this advice: * Check your homeowners policy which may insure goods being moved. This way you avoid expensive moving insurance. * Check who pays "deductible" on the movers insurance. * If you are not a smoker, and...
by Taylor Larimore
Fri Aug 22, 2014 11:42 am
 
Forum: Personal Consumer Issues
Topic: Quote from a mover: Please comment
Replies: 46
Views: 3554

Three co-authors of The Bogleheads' Guide to Investing

I'd say if you just want the overriding message, then don't buy the new book because the overall message hasn't changed. However, if you want to use it as a reference for various tax laws, contribution limits, our views on ETFs and back-door Roths, etc., then you'd want the new book. As the third c...
by Taylor Larimore
Thu Aug 21, 2014 11:08 pm
 
Forum: Investing - Theory, News & General
Topic: "The Bogleheads' Guide to Investing -- Second Edition"
Replies: 37
Views: 5224

"A labor of love."

Logicteach:

Welcome to the Bogleheads Forum!

I am sure that Mel and Michael are as pleased as I am that you found our book helpful. It was a "labor of love" for the Bogleheads and others.

Best wishes.
Taylor
by Taylor Larimore
Thu Aug 21, 2014 3:35 pm
 
Forum: Investing - Theory, News & General
Topic: "The Bogleheads' Guide to Investing -- Second Edition"
Replies: 37
Views: 5224

Re: "The Bogleheads' Guide to Investing -- Second Edition"

Srinivasan777in wrote:Thanks for summarizing. I felt like I read the entire book :)

Srinivasan:

The Gems are 1 page; the book has 310 pages. :happy

Best wishes.
Taylor
by Taylor Larimore
Thu Aug 21, 2014 11:18 am
 
Forum: Investing - Theory, News & General
Topic: "The Bogleheads' Guide to Investing -- Second Edition"
Replies: 37
Views: 5224

"The Bogleheads' Guide to Investing -- Second Edition"

Bogleheads: These are quotes from our latest Bogleheads' Guide to Investing--Second Edition: From the "FORWARD" written by Jack Bogle: "Two especially notable characteristics mark the Boglehead culture: One is rationality . These individual investors are awash in common sense, intoler...
by Taylor Larimore
Wed Aug 20, 2014 11:54 pm
 
Forum: Investing - Theory, News & General
Topic: "The Bogleheads' Guide to Investing -- Second Edition"
Replies: 37
Views: 5224

Fund placement

The three-fund portfolio tells us we should hold Total Bond Market index in a tax-advantaged account like an IRA while we hold Total Stock/Total International Market index in a taxable account. imgritz: My Three Fund Portfolio post states: "Place Total Bond Market in tax-advantaged account(s)....
by Taylor Larimore
Wed Aug 20, 2014 8:23 pm
 
Forum: Investing - Theory, News & General
Topic: Why only stocks in a taxable account at retirement?
Replies: 26
Views: 1836

Legg Mason Value Trust now in Bottom 1%

Boglheads: After fifteen straight years beating the S&P 500 Index, Legg Mason Value Trust (LMNVX) is now in the BOTTOM 1% of its category (large blend) for 10-year returns. Our mentor, Jack Bogle, calls this "Reversion to the Mean." Bogleheads can read about it here: The Telltale Chart...
by Taylor Larimore
Wed Aug 20, 2014 4:54 pm
 
Forum: Investing - Theory, News & General
Topic: When did you hear of Bill Miller and Legg Mason Value Trust?
Replies: 32
Views: 2316

Re: Long term bond tilting?

pulcinella: I have a fair amount of experience with bonds, having worked as an executive in two bond issuing agencies. Briefly, this is what I have learned: * No one understands all there is to know about bonds. * Bonds are very efficient. Higher yield almost always reflects higher risk. There is no...
by Taylor Larimore
Tue Aug 19, 2014 10:01 am
 
Forum: Investing - Theory, News & General
Topic: Long term bond tilting?
Replies: 14
Views: 1254

Re: 100% lifestrategy - good idea for a hands-off investor?

Slinky:

Welcome to the Bogleheads Forum!

In my opinion, your first post with its chart and commentary contains nearly everything we need to know to be successful investors.

Very unusual for a first-time poster.

Thank you and best wishes.
Taylor
by Taylor Larimore
Tue Aug 19, 2014 8:46 am
 
Forum: Investing - Help with Personal Investments
Topic: 100% lifestrategy - good idea for a hands-off investor?
Replies: 28
Views: 3271

Robert's Bond Analysis

Robert:

Thank you for a very impressive bond analysis.

Best wishes.
Taylor
by Taylor Larimore
Tue Aug 19, 2014 7:55 am
 
Forum: Investing - Theory, News & General
Topic: Long term bond tilting?
Replies: 14
Views: 1254

Re: Long term bond tilting?

Is there a reason why someone might want to tilt a total bond market fund with long term bonds? Is there a place for them in a long term 'stay the course' approach (even in today's low interest rate environment)? There seem to be many of these LT funds at VG, as I had been looking munis for my taxa...
by Taylor Larimore
Mon Aug 18, 2014 10:39 pm
 
Forum: Investing - Theory, News & General
Topic: Long term bond tilting?
Replies: 14
Views: 1254

"Robin Williams' estate plan: Good, but not great"

Bogleheads:

This article may be of interest (especially for Californians):

Robin Williams' estate plan: Good, but not great

Best wishes.
Taylor
by Taylor Larimore
Mon Aug 18, 2014 10:31 pm
 
Forum: Investing - Theory, News & General
Topic: "Robin Williams' estate plan: Good, but not great"
Replies: 4
Views: 1752

Re: Why no transaction alerts from Vanguard/others?

Browser:

Are you sure you are not alerted by Vanguard? I am alerted, and have been for many years.

Best wishes.
Taylor
by Taylor Larimore
Mon Aug 18, 2014 9:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why no transaction alerts from Vanguard/others?
Replies: 16
Views: 1234

Re: Should we switch our TIPS fund?

Taylor has often posted that while The Three Fund Portfolio is excellent for most investors, a larger portfolio "may" benefit from the addition of TIPS, REITs, and Small Cap Value. I am unsure if this is still Taylor's perspective so perhaps he can add to the thread. Best. abuss: I apprec...
by Taylor Larimore
Mon Aug 18, 2014 7:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should we switch our TIPS fund?
Replies: 49
Views: 5386

Why I like Vanguard's Target Retirement Funds..

Bogleheads: I like Vanguard's Target Retirement Funds for these reasons: * Designed by Vanguard experts. * Morningstar's highest target fund rating (Gold). * 12 choices for suitability. * $1,000 minimum investment. * All indexed with index advantages . * No rebalancing necessary. * Automatically bec...
by Taylor Larimore
Mon Aug 18, 2014 5:16 pm
 
Forum: Investing - Theory, News & General
Topic: Bad(?) advice given about Target Date Retirement funds
Replies: 101
Views: 5911

Re: Looking back: VIPSX vs. VTIPX bond funds?

I would like to follow up with one additional question: Have you considered combining your Short Term TIPS fund with the Total Bond Market Index fund to reduce complexity and simplify your portfolio? Would this be one step closer to a Three Fund Portfolio? Best. Abuss: I own two bond funds in my re...
by Taylor Larimore
Mon Aug 18, 2014 3:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should we switch our TIPS fund?
Replies: 49
Views: 5386

Answer to questions

dbr: I'll try to answer your questions: This leaves open the question what reasoning led to holding the intermediate duration fund in the first place. We purchased Vanguard's intermediate-term VIPSX at its inception in 2000. The reason was for inflation protection. One consideration is that Vanguard...
by Taylor Larimore
Mon Aug 18, 2014 3:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should we switch our TIPS fund?
Replies: 49
Views: 5386

Looking back: VIPSX vs. VTIPX bond funds?

Taylor - care to share what you did in 2012 and how you feel about the decision now? Cody: My records show that I exchanged our (intermediate-term) Inflation-Protected Securities Fund (VIPSX) to the Short-Term Inflation-Protected Securities Fund (VTIPX) on 6-25-2013. The primary reason for the exch...
by Taylor Larimore
Mon Aug 18, 2014 1:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should we switch our TIPS fund?
Replies: 49
Views: 5386

Thank you, Mr. Bogle.

Dear Mr. Bogle:

Thanks to you, Pat and I enjoyed a happier, care-free retirement than we ever imagined.

Best wishes.
Taylor
by Taylor Larimore
Mon Aug 18, 2014 12:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: What was Underestimated\Overestimated in Retirement
Replies: 48
Views: 4655

A labor of love.

Taylor & Mel: Congratulations on releasing the revised edition. I look forward to reading it. My wife and I recently had the pleasure of reading the paperback version of your 1st edition, and we couldn't have been happier with how well it explains so many valuable concepts. I've probably alread...
by Taylor Larimore
Sun Aug 17, 2014 5:19 pm
 
Forum: Investing - Theory, News & General
Topic: Paperback of The Bogleheads' Guide to Investing, 2nd Ed.?
Replies: 34
Views: 3088

Re: The Three Fund Portfolio and Total Bond Market Index Fun

Sunny: Total Bond Market Index Fund continues to be categorized as "Intermediate-Term" by both Vanguard and Morningstar. In my view, BOTH "long-term" and "intermediate-term" are misleading. This is Vanguard's Summary: This fund is designed to provide broad exposure to U...
by Taylor Larimore
Sun Aug 17, 2014 2:48 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 866
Views: 339815

Question for Accountant.

What really stunned me was how much I am going to have to pay in taxes when I retire because of RMDs. About 70% of my savings are in a 401K. I asked my accountant to estimate my tax bracket when I retire as I was about to take full SS at 70. I also have pensions. She told me I would be in the same ...
by Taylor Larimore
Sun Aug 17, 2014 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: What was Underestimated\Overestimated in Retirement
Replies: 48
Views: 4655

Re: Vanguard Bond funds Style change

As I understand it the manager is well aware of the risks I have just described and buys securities (such as non callable corporate bonds) which reduce those. I am reasonably sure that the managers(3) pay no attention to "risk." They simply try to mimic the fund's benchmark: Barclays U.S....
by Taylor Larimore
Sun Aug 17, 2014 1:26 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Bond funds Style change
Replies: 19
Views: 1816

Mr. Bogle on "diversification."

Mr. Bogle said this during an Index Universe interview:
Diversification is the last refuge of the scoundrel.

Best wishes.
Taylor
by Taylor Larimore
Sun Aug 17, 2014 1:14 pm
 
Forum: Investing - Theory, News & General
Topic: WSJ: Is Your Portfolio Too Diversified?
Replies: 23
Views: 3303

Long-term care

What cost did you underestimate or overestimate when you actually retired? What did you actually spend more and less on when you stopped working full time? Rexindex: I retired 33 years ago. We really had no surprises. We were able to adjust our spending as required. We did not purchase long-term ca...
by Taylor Larimore
Sun Aug 17, 2014 8:35 am
 
Forum: Personal Finance (Not Investing)
Topic: What was Underestimated\Overestimated in Retirement
Replies: 48
Views: 4655

Recovering from a 50% decline?

So my question is would you or wouldn’t you be able be able to recover from that 50% loss when you had the 90/10 allocation but bought all of those shares during that 15 years period though the fund was beginning its glide path more into bonds? Nerdicus: No one knows if you "would or wouldn't ...
by Taylor Larimore
Sat Aug 16, 2014 11:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can A Target Date Fund Be Bad For Late Starters?
Replies: 5
Views: 714

Wall Street Journal article

Today's Wall Street Journal featured an article titled: "Is Your Portfolio Too Diversified? " This is a portion: Do you really need to load up with every new product that comes along? Or can a straightforward mix of stocks and bonds get you to—and through—retirement just fine? The Wall Str...
by Taylor Larimore
Sat Aug 16, 2014 10:28 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 866
Views: 339815

The Three Fund Portfolio

http://online.wsj.com/articles/is-your-portfolio-too-diversified-1408032582 Jagman: The link did not work for me. This is a portion of the article in the paper: Do you really need to load up with every new product that comes along? Or can a straightforward mix of stocks and bonds get you to—and thr...
by Taylor Larimore
Sat Aug 16, 2014 9:58 pm
 
Forum: Investing - Theory, News & General
Topic: WSJ: Is Your Portfolio Too Diversified?
Replies: 23
Views: 3303

Total Bond Market is in Intermediate-Term category

VBTIX: Vanguard Total Bond Market Index I The fixed-income Style Box position for this fund has changed from interm-term high quality to long-term high quality. Vanguard Total Bond Market Index Fund (VBTIX) is in Vanguard and Morningstar's "Intermediate-Term Category." http://quotes.morni...
by Taylor Larimore
Sat Aug 16, 2014 9:21 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Bond funds Style change
Replies: 19
Views: 1816

Re: Total Market Bond Fund vs Intermediate Term Fund

Sunny Sarkar wrote:Interested in reading Nisiprius's post mentioned above - if someone has the link, please post.

Sunny:

This may be the Topic with Nisiprius's reply that you are looking for:

Total Bond Market vs. Intermediate-Term Bond Index

Best wishes.
Taylor
by Taylor Larimore
Fri Aug 15, 2014 7:50 pm
 
Forum: Investing - Theory, News & General
Topic: Total Market Bond Fund vs Intermediate Term Fund
Replies: 47
Views: 5882

Re: Paperback of The Bogleheads' Guide to Investing, 2nd Ed.

Bluesplinter wrote:I guess I could get them all to sign my Kindle… My Kindle-to-physical investing book ratio is roughly 20:1 :)

Bluesplinter:

Welcome to the Bogleheads Forum!

Best wishes.
Taylor
by Taylor Larimore
Fri Aug 15, 2014 5:16 pm
 
Forum: Investing - Theory, News & General
Topic: Paperback of The Bogleheads' Guide to Investing, 2nd Ed.?
Replies: 34
Views: 3088

Performance chasing vs. stay-the-course.

Bogleheads: Vanguard recently completed a study comparing performance-chasing with buy-and-hold by comparing the returns and risk-adjusted performance of each strategy to determine if taking action based on past performance is worthwhile. These are excerpts: "Buy-and-hold strategy has outperfor...
by Taylor Larimore
Fri Aug 15, 2014 4:43 pm
 
Forum: Investing - Theory, News & General
Topic: Performance chasing vs. stay-the-course.
Replies: 4
Views: 584

Re: The Three Fund Portfolio allocations

This is better, why not change the graphic to reflect what the BH founders "recommend" ... closer to a 40/20/40? The Three Fund Portfolio was never meant to have a fixed allocation. There is no such thing as a recommended allocation. It depends on each investor's unique goal(s); time-fram...
by Taylor Larimore
Thu Aug 14, 2014 1:52 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 866
Views: 339815
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