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Re: Mr. Bogle on CNBC today--International and Bonds

May be I didnt get his point, but VG (founded by him) gave me a 4 fund portfolio: Stock(US:INT = 70:30) and Bond(US:INT = 80:20). I am now confused! Should I change my allocation or ignore his advice? Subham: No one knows which funds will outperform in the future. One of our contributors listed 150...
by Taylor Larimore
Tue Jan 27, 2015 4:33 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Bogle on CNBC today--International and Bonds
Replies: 15
Views: 1112

Re: Are any US-only investors having 2nd thoughts?

InvestorNewb:

Jack Bogle speaks about International Investing in this recent video posted by SailingAway:

viewtopic.php?f=10&t=156734&newpost=2351679

I intend to stay-the-course with about 30% of equity in my international stock fund.

Best wishes.
Taylor
by Taylor Larimore
Tue Jan 27, 2015 4:02 pm
 
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 11
Views: 656

Re: Mr. Bogle on CNBC today--International and Bonds

Sailing Away:

Thank you for this excellent video of our mentor, Jack Bogle. It is great to see him so full of vim, vigor and (as always)--sound advice.

Best wishes.
Taylor
by Taylor Larimore
Tue Jan 27, 2015 3:13 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Bogle on CNBC today--International and Bonds
Replies: 15
Views: 1112

Bubbles and the Efficient Market Theory

Just look at the 1929 or the 2000 bubble, and one really can't argue for one second that markets are efficient. Below is an excerpt from an article at Casey Research Fama is not just a Nobel laureate. He also co-authored the textbook, The Theory of Finance, with another Nobel winner, Merton H. Mill...
by Taylor Larimore
Tue Jan 27, 2015 10:54 am
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About Market-Timing
Replies: 14
Views: 2274

Re: Where to get medallion signature guarantee

Renee:

I was given a medallion signature guarantee by a local Chase branch bank last Monday. No charge. No questions.

Best wishes.
Taylor
by Taylor Larimore
Mon Jan 26, 2015 9:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where to get medallion signature guarantee
Replies: 26
Views: 1939

"7 Myths That Could Trip Up IRA Contributors"

Bogleheads: Christine Benz, Morningstar's Director of Personal Finance and a member of our Panel of Experts at Boglehead Conferences, has written an excellent article about IRA myths. These are excerpts: "IRS Publication 590--the one that details the rules on various types of IRAs--is a full 62...
by Taylor Larimore
Mon Jan 26, 2015 10:32 am
 
Forum: Investing - Theory, News & General
Topic: "7 Myths That Could Trip Up IRA Contributors"
Replies: 2
Views: 687

"5 Steps to Start Saving for Retirement"

Bggleheads: Jim Dahle is a Boglehead, physician, adviser, and author of The White Coat Investor . Jim has written an article for the Physician's Money Digest that outlines five steps to start investing. Jim's five steps are: 1. Decide whether or not to be your own investment manager. 2. Carve out a ...
by Taylor Larimore
Mon Jan 26, 2015 8:40 am
 
Forum: Investing - Theory, News & General
Topic: "5 Steps to Start Saving for Retirement"
Replies: 1
Views: 607

What Experts Say About "Costs"

American Association of Individual Investors: "Funds with loads, on average consistently underperform no load funds when the load is taken into consideration." Frank Armstrong, author of The Informed Investor : "Wrap fee accounts may be great for the ego, but they're bad economics.&q...
by Taylor Larimore
Sun Jan 25, 2015 10:20 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Costs"
Replies: 1
Views: 481

What Experts Say About "The Three Fund Portfolio" *

American Association of Individual Investors : "It should come as no surprise that behavioral finance research makes a strong case for buying and holding low-cost, broadly diversified index funds." Mark Balasa, CPA, CFP: "That three-pronged approach is going to beat the vast majority...
by Taylor Larimore
Sun Jan 25, 2015 5:11 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "The Three Fund Portfolio" *
Replies: 2
Views: 984

What Experts Say About Total Market Index Funds

Bill Bernstein: "If you own VTSMX with a bit of foreign and REIT, mixed with your bonds, you're most of the way there." Jack Bogle: "The beauty of owning the market is that you eliminate individual stock risk, you eliminate market sector risk, and you eliminate manager risk." Sc...
by Taylor Larimore
Sun Jan 25, 2015 3:42 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About Total Market Index Funds
Replies: 2
Views: 1071

What Experts Say [about various investing topics]

Bogleheads: I began investing in 1950 at the age of 26 when the S&P 500 Index was under 20. Today, on my 91st birthday, The S&P 500 Index is over 2,000 -- not including dividends. Nearly everything I know about investing I learned from experience , reading , and listening to experts who know...
by Taylor Larimore
Sun Jan 25, 2015 3:06 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say [about various investing topics]
Replies: 48
Views: 2565

What Experts Say About "Past Performance"

Frank Armstrong, financial author: "Rating services such as Morningstar's 'Star Awards' or the 'Forbes Honor Roll' attest to the futility of applying past performance to tomorrow." Barra Research : "There is no persistence of equity fund performance." Jack Bogle: "The bigge...
by Taylor Larimore
Sun Jan 25, 2015 1:51 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Past Performance"
Replies: 3
Views: 544

Laura: "Queen of the Bogleheads"

Thank you Taylor for bringing us back to the roots. :happy I especially like this one: Laura Dogu, co-auther of "The Bogleheads Guide to Retirement Planning" : A simple portfolio is actually the ultimate in sophistication. It almost always lowers cost (including taxes), makes analysis eas...
by Taylor Larimore
Sat Jan 24, 2015 6:11 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Simplicity"
Replies: 7
Views: 1743

What Experts Say About "Asset-Allocation & Diversification"

"The stock market will fluctuate, but you can't pinpoint when it will tumble or shoot up. If you have allocated your assets properly and have sufficient emergency money, you shouldn't need to worry." (AAII Guide to Mutual Funds) "The impact of asset allocation or investment policy sw...
by Taylor Larimore
Sat Jan 24, 2015 5:00 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Asset-Allocation & Diversification"
Replies: 2
Views: 1302

What Experts Say About "Simplicity"

Scott Adams, author of Dilbert : "I once tried to write a book about personal investing. After extensive research I realized I could describe everything that a young first-time investor needs to know on one page." Christine Benz, Morningstar Director of Personal Finance : "Simplicity...
by Taylor Larimore
Sat Jan 24, 2015 4:16 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Simplicity"
Replies: 7
Views: 1743

What Experts Say About Market-Timing

"The stock market will fluctuate, but you can't pinpoint when it will tumble or shoot up. If you have allocated your assets properly and have sufficient emergency money, you shouldn't need to worry." AAII Guide to Mutual Funds "Endless tinkering is unlikely to improve performance, an...
by Taylor Larimore
Sat Jan 24, 2015 3:04 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About Market-Timing
Replies: 14
Views: 2274

Re: What Experts Say About "Indexing"

nanosour wrote:Shouldn't the title of the thread read, What "Experts" Say About Indexing?

nanosour:

You have a point. :wink:

Best wishes.
Taylor
by Taylor Larimore
Fri Jan 23, 2015 7:11 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Indexing"
Replies: 10
Views: 1986

Re: Vanguard STAR Fund (VGSTX)

What do you thing about the Star fund for retirement. I bought it when it came out in 85, I was thinking having only it as my retirement income. Hulburt1: In my opinion, Vanguard's STAR fund can be an excellent fund for retirement. It is very diversified and low-cost. However, it is not tax-efficie...
by Taylor Larimore
Fri Jan 23, 2015 7:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard STAR Fund (VGSTX)
Replies: 8
Views: 962

Jim Cramer on "Indexing"

"After a lifetime of picking stocks, I have to admit that Bogle's arguments in favor of the index fund have me thinking of joining him rather than trying to beat him." Jim Cramer Did Jim Cramer actually say that? Then why does he keep misleading viewers on his show on CNBC everyday??? Lat...
by Taylor Larimore
Fri Jan 23, 2015 6:12 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Indexing"
Replies: 10
Views: 1986

"What Experts Say"

Yes, indexing works pretty darned well. Thanks Taylor for putting together a nice collection of quotes. nedsaid: Thank you. My intention is to upgrade "What Experts Say" about each element of The Bogleheads Philosophy . When completed, I'll make a single post containing links to what expe...
by Taylor Larimore
Fri Jan 23, 2015 6:01 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Indexing"
Replies: 10
Views: 1986

What Experts Say About "Indexing"

"It should come as no surprise that behavioral finance research makes a strong case for buying and holding low-cost, broadly diversified index funds." American Association of Individual Investors "Personally I think indexing wins hands down, after tax, active management just can't wi...
by Taylor Larimore
Fri Jan 23, 2015 1:28 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Indexing"
Replies: 10
Views: 1986

"Its Time To End Financial Advisers 1% Fees"

Bogleheads:

Jonathan Clements, author and Wall Street Journal columnist, has written an interesting article explaining how low-cost online advisers are challenging traditional advisers:

"Its Time To End Financial Advisers 1% Fees"

Best wishes.
Taylor
by Taylor Larimore
Fri Jan 23, 2015 10:52 am
 
Forum: Investing - Theory, News & General
Topic: "Its Time To End Financial Advisers 1% Fees"
Replies: 75
Views: 6163

Past Performance ?

Bogleheads: What experts say: Jack Bogle: "The biggest mistake investors make is looking backward at performance and thinking it’ll recur in the future." Frank Armstrong, financial author: "Rating services such as Morningstar's 'Star Awards' or the 'Forbes Honor Roll' attest to the fu...
by Taylor Larimore
Fri Jan 23, 2015 10:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Diversify my portfolio
Replies: 18
Views: 1695

Re: Selling mutual fund to buy ETF - "out of market" risk

I'd like to sell a mutual fund holding and invest it in an Vanguard ETF instead. I'm concerned about the "1 day out of market" risk and am wondering whether there's a way to further reduce it. Megaroth: Don't worry about being out of the market for one day. It could be a blessing: Five La...
by Taylor Larimore
Thu Jan 22, 2015 11:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Selling mutual fund to buy ETF - "out of market" risk
Replies: 17
Views: 822

Mr. Bogle's "age in bonds" rule is a starting point."

Now Mr. Bogle begins the process by specifying that one should hold age in bonds. That is an absolute that leaves an open question how one should take into account the presence of a pension. Bogle on Mutual Funds: I recommended --as a crude starting point--that an investor's bond position should eq...
by Taylor Larimore
Wed Jan 21, 2015 10:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retirement Portfolio - effect of pension
Replies: 5
Views: 864

A few more suggestions

i am really hoping that both Taylor and Laura will chime in with their thoughts as I have read many threads over time with their very streamlined, solid and simplistic advice on allocation and portfolio management. tt122209: You have received many posts containing sound suggestions. Not much I can ...
by Taylor Larimore
Wed Jan 21, 2015 5:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Two CSRS Fed Employees Retiring 2015 - Need Input Please!
Replies: 43
Views: 2382

Re: Starting to Invest - 26 Years Old

2. How does this look for Vanguard funds (investing 70K): VTSAX (Total Market Admiral Shares) - 15K VFIAX (S&P 500 Admiral Shares) - 15K VIMAX (Mid-Cap) - 10K VDIGX (Dividend Growth) - 10K VWNFX (Large Cap) - 10K VWELX (Wellington Fund - Balanced) - 10K (I was also considering VWINX) firsttimeb...
by Taylor Larimore
Tue Jan 20, 2015 10:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Starting to Invest - 26 Years Old
Replies: 14
Views: 1349

Foolish to buy insurance you don't need.

I've always heard that if you are going to buy life insurance, it's better to get term vs. whole life insurance. But does it ever make sense to buy term life insurance if you are single with no dependents? mmoneytalks: In my opinion, it is foolish to buy insurance you don't need. Best wishes. Taylor
by Taylor Larimore
Tue Jan 20, 2015 9:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance when single
Replies: 15
Views: 911

Re: 15 year fixed mortgage vs ARM 5 1

there is an over 95% chance that we will relocate to another town in the next 2-3 years. And if we don't I will consider building a new house. Streptococcus: I think it is probably a mistake to refinance for a period of 2-3 years considering the hassle and $2,500 closing costs. Your current mortgag...
by Taylor Larimore
Tue Jan 20, 2015 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 year fixed mortgage vs ARM 5 1
Replies: 4
Views: 439

"The ABCs of Common Sense Investing"

Bogleheads:

Rick Van Ness has put Boglehead Philosophy into poetry:

The ABCs of Common Sense Investing

Thank you, Rick.

Best wishes.
Taylor
by Taylor Larimore
Tue Jan 20, 2015 5:55 pm
 
Forum: Investing - Theory, News & General
Topic: "The ABCs of Common Sense Investing"
Replies: 11
Views: 1656

"When you've won the game, stop playing"

[Thread merged into here, see below (page 2). -- admin LadyGeek] Bogleheads: Boglehead, author and advisor, Bill Bernstein, has a lengthy article in the Wall Street Journal today titled, How to Tell if Your Retirement Nest Egg Is Big Enough. Bill put in italics something I also think is very import...
by Taylor Larimore
Tue Jan 20, 2015 4:47 pm
 
Forum: Investing - Theory, News & General
Topic: "When you've won the game, stop playing"
Replies: 83
Views: 8315

Re: Diversify my portfolio

Riptide:

I think you have a very good plan (assuming your stock/bond allocation is suitable).
"The enemy of a good plan is the dream of a perfect plan." -- John Bogle

Stay-the-course.

Best wishes.
Taylor
by Taylor Larimore
Tue Jan 20, 2015 4:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Diversify my portfolio
Replies: 18
Views: 1695

Re: Trying to understand index funds

While I understand the arguments and results behind the success of many index funds, there is one aspect with which I still struggle. Index funds don't really hold an entire index. There are still individual stocks that SOMEONE has to pick to include in individual mutual funds and ETFs. Isn't there...
by Taylor Larimore
Tue Jan 20, 2015 3:48 pm
 
Forum: Investing - Theory, News & General
Topic: Trying to understand index funds
Replies: 14
Views: 1197

Target and Three Fund Portfolio for simplicity

The findings confirm that declining cognition, a common occurrence among individuals in their 80s, is associated with a significant decline in financial literacy. The study also finds that large declines in cognition and financial literacy have little effect on an elderly individual’s confidence in...
by Taylor Larimore
Tue Jan 20, 2015 2:09 pm
 
Forum: Investing - Theory, News & General
Topic: “How Does Aging Affect Financial Decision Making?”
Replies: 54
Views: 2748

Re: The Three Fund Portfolio

BogleInvestorLondon:

Thank you for the correction. I edited my post.

Best wishes.
Taylor
by Taylor Larimore
Tue Jan 20, 2015 12:23 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 1012
Views: 445300

The Bogleheads forum at its best.

Bogleheads:

This is a good example of the Bogleheads forum at its best. People helping people effectively.

Thanks everyone!

Best wishes.
Taylor
by Taylor Larimore
Mon Jan 19, 2015 10:22 pm
 
Forum: Personal Consumer Issues
Topic: Need Help Responding to Debt Collector (for invalid request)
Replies: 13
Views: 1395

Re: calculating tax deferred vs taxable

Calculating tax deferred vs taxable?

Joe:

Morningstar has a tool to help answer your question:

Morningstar's IRA Calculator

Best wishes.
Taylor
by Taylor Larimore
Mon Jan 19, 2015 4:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: calculating tax deferred vs taxable
Replies: 11
Views: 602

Sell expensive and tax-inefficient fund in taxable account

Taxable Investment Account ~$2K (100% GBLAX American Funds Global Balanced A only had < 1 year). DPTocs: Please sell your tax-inefficient and expensive fund (GBLAX) before you get locked-in with large capital-gains making it very expensive to later exchange to a more tax-efficient fund. According t...
by Taylor Larimore
Mon Jan 19, 2015 3:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice: Considering surrendering newer Midland National IUL
Replies: 7
Views: 445

Correction

Christine:

Thank you for the correction. I have edited my post to reflect that Balanced Index Fund does not contain two index funds but simply tracks two indexes.

Best wishes
Taylor
by Taylor Larimore
Mon Jan 19, 2015 3:09 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 1012
Views: 445300

Predicting the Past

Taylor, I read the Vanguard research from your link, it was very informative. As a part of this overall international allocation discussion, my question is in regards to your comment that you pay little attention to past results. When I read the Vanguard research, it was heavily based on historical...
by Taylor Larimore
Mon Jan 19, 2015 2:00 pm
 
Forum: Investing - Theory, News & General
Topic: Does 3-funds offer higher returns or lower risk?
Replies: 30
Views: 2589

"Does 3-Funds Offer Higher Returns Or Lower Risk"

Bogleheads:

Below is the link to a lengthy discussion about The Three Fund Portfolio in another thread:

Does 3-funds offer higher returns or lower risk?

Best wishes.
Taylor
by Taylor Larimore
Mon Jan 19, 2015 1:31 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 1012
Views: 445300

Jack Bogle on The Three Fund Portfolio

I understand that Mr. Bogle (and Buffett) suggest 2 funds - US Stock Market Index & Bonds. Allroads: Mr. Bogle also told the Wall Street Journal in a December 2006 interview: "There may be better investment strategies than owning just three broad-based index funds but the number of strateg...
by Taylor Larimore
Sun Jan 18, 2015 5:39 pm
 
Forum: Investing - Theory, News & General
Topic: Does 3-funds offer higher returns or lower risk?
Replies: 30
Views: 2589

International stocks in the Three Fund Portfolio?

I'm glad you made a post Taylor. May I ask you - in terms more of a "theory" rather than past results would a person holding a 3-fund vs 2-fund portfolio be mostly having international to increase returns or reduce risk/volatility ? Allroads: I pay little attention to "past results&q...
by Taylor Larimore
Sun Jan 18, 2015 4:37 pm
 
Forum: Investing - Theory, News & General
Topic: Does 3-funds offer higher returns or lower risk?
Replies: 30
Views: 2589

Re: Does 3-funds offer higher returns or lower risk?

The 3-fund portfolio does not appear to be on the "efficient frontier" of risk/reward. Livesoft: The three funds in The Three Fund Portfolio are not fixed to any "efficient frontier." The percentage of each fund varies depending on what the investor feels is most suitable for th...
by Taylor Larimore
Sun Jan 18, 2015 4:11 pm
 
Forum: Investing - Theory, News & General
Topic: Does 3-funds offer higher returns or lower risk?
Replies: 30
Views: 2589

Re: RMD withdrawals.

I turn 70 1/2 in 2015, and will be required to begin RMD's of my IRA, which is invested 65% bonds, (LT Corp/GNMA) 35% equities (Tot Stk Mkt Idx). I plan to reinvest the RMD into my personal taxable account. My question is, would it be better to take one withdrawal at the beginning of 2015, take mon...
by Taylor Larimore
Sun Jan 18, 2015 3:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: RMD withdrawals.
Replies: 38
Views: 2559

Re: Why I like this forum

Civility is in the eye of the powerful and that's why I don't sign on to it. Cromwell: Civility applies to all of us: "Be civil to all, sociable to many, familiar with few, friend to one, enemy to none." -- Benjamin Franklin “Every action done in company ought to be with some sign of resp...
by Taylor Larimore
Sun Jan 18, 2015 3:05 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Why I like this forum
Replies: 34
Views: 2253

ERP ?

There is a ERP with international equities. I believe it was Dimson and Marsh 101 yrs. of international returns data that shows in almost (if not ALL) equity markets equities outperform the same country's cash (and even bonds) this shows there is a +ERP. There is no premium of investing in one equi...
by Taylor Larimore
Sun Jan 18, 2015 2:11 pm
 
Forum: Investing - Theory, News & General
Topic: Why invest in International funds? It's a mystery
Replies: 121
Views: 10420

Re: Life Strategy and Target Funds alternative

I might add that Mike Piper personally uses the Vanguard LifeStrategy funds, which are about as pure a one-fund implementation of the three-fund portfolio as you can get. Leeraar: Mr. Piper is a very knowledgeable investor who is on our Panel of Experts at Boglehead Conferences. I agree with Mike t...
by Taylor Larimore
Sun Jan 18, 2015 1:30 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 1012
Views: 445300

Re: The Three Fund Portfolio

Being an amateur at this, I am trying to understand the (practical) process of investing using a 3 Fund Portfolio. If I wished to invest $11,500 annually in a 3 Fund Portfolio while meeting the following requirements: 1. max my Roth IRA contribution ($5500) 2. use a 60:40 stock:bond allocation What...
by Taylor Larimore
Sun Jan 18, 2015 12:39 pm
 
Forum: Investing - Theory, News & General
Topic: The Three Fund Portfolio
Replies: 1012
Views: 445300

Re: Why I like this forum

protagonist:

The Bogleheads Forum (and its links) has been my single most important source of investment education.

I am deeply indebted to you and all the other contributing Bogleheads.

Thank you and best wishes.
Taylor
by Taylor Larimore
Sun Jan 18, 2015 12:05 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Why I like this forum
Replies: 34
Views: 2253
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