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Re: Wiki comments requested: The importance of asset allocat

LadyGeek: This quote may help: "The first step in assembling an investment portfolio is to decide how to spread your dollars among stock, bond, and cash investments. Spend a lot of time on this decision--it is the most important one you will make." Straight Talk on Investing by Jack Brenna...
by Taylor Larimore
Thu Jan 29, 2015 9:34 pm
 
Forum: Investing - Theory, News & General
Topic: Wiki comments requested: The importance of asset allocation
Replies: 28
Views: 685

A student has to become the teacher ?

The man is not an idol to be followed blindly. At some point the student has to become the teacher. z3r0c00l: No one in the mutual fund industry has a greater combination of character, practical experience, knowledge, inventive genius, wisdom, perseverance, literary ability, kindness, modesty, and ...
by Taylor Larimore
Thu Jan 29, 2015 8:19 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Bogle on CNBC today--International and Bonds
Replies: 42
Views: 4438

2 funds or 3 funds?

Any data available for the annual returns for the vanguard's 2 funds portfolio (total stock market index, total bond market index) vs. 3 funds portfolio (total stock market index, total bond market index, total international market index). Question is does the 2 funds or 3 funds portfolio perform b...
by Taylor Larimore
Thu Jan 29, 2015 8:08 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Bogle on CNBC today--International and Bonds
Replies: 42
Views: 4438

Researching mutual fund companies.

How do we research mutual fund companies?

dratkinson:

Morningstar.com is the place to go. Use the link below and put the name or ticker-symbol of the fund you seek in the "Search" box at the top of any http://www.morningstar.com page.

Best wishes.
Taylor
by Taylor Larimore
Thu Jan 29, 2015 7:55 pm
 
Forum: Investing - Theory, News & General
Topic: What mutual fund companies do you use?
Replies: 61
Views: 2568

Wise words

theduke wrote:I know what I know and I know what I don't know. I know Mr. Bogle knows a lot more about investing than I do, so I'll stick with him. :wink:

theduke:

Wise words, indeed. I live in the home that Jack built.

Best wishes.
Taylor
by Taylor Larimore
Thu Jan 29, 2015 4:26 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Bogle on CNBC today--International and Bonds
Replies: 42
Views: 4438

International and U.S. stock correlations

Another truism that won't die. Correlations between international equity markets and the U.S. in the last couple decades have gotten lower , not higher. According to Vanguard Research , correlations have gotten higher : Figure 5 (page 5) shows that the correlation of U.S.stocks and international st...
by Taylor Larimore
Wed Jan 28, 2015 10:09 pm
 
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 43
Views: 4074

Vanguard international stock recommendation

Bogleheads: Vanguard has done an excellent study on the subject of international investing and how much to allocate in our portfolio. This is their conclusion: • International stocks should be included in a domestic portfolio. • Empirical and practical issues suggest a starting allocation to interna...
by Taylor Larimore
Wed Jan 28, 2015 11:51 am
 
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 43
Views: 4074

Re: What mutual fund companies do you use?

I am curious what mutual fund companies or brokerage houses other Bogleheads use and why, outside of employer sponsored plans. Personally, I have 95% of my assets at Vanguard, the majority in 4 Index funds and a low cost actively managed municipal bond fund. I keep 5% of my retirement portfolio at ...
by Taylor Larimore
Wed Jan 28, 2015 12:06 am
 
Forum: Investing - Theory, News & General
Topic: What mutual fund companies do you use?
Replies: 61
Views: 2568

Short-term volatility vs. long-term return?

With all due respect to Bogle, the idea that multinational U.S. companies provide international diversification has been pretty well debunked by Larry Swedroe. But given how often this idea rears its head in this forum, I suspect it's a truism that may never die. "Debunked" or not, invest...
by Taylor Larimore
Tue Jan 27, 2015 11:56 pm
 
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 43
Views: 4074

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: 42
Views: 4438

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: 43
Views: 4074

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.

I love this quote by Mr. Bogle who knows more about investing than any of us:
"I'm never sure I'm right."

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: 42
Views: 4438

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: 2479

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: 31
Views: 2303

"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: 709

"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: 621

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: 539

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: 1085

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: 1161

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: 49
Views: 2913

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: 600

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: 1813

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: 3
Views: 1538

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: 1813

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: 2479

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: 2054

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: 965

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: 2054

"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: 2054

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: 2054

"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: 102
Views: 7923

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: 1709

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: 832

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: 871

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: 2386

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: 1360

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: 914

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: 440

"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: 1666

"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: 8346

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: 1709

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: 1202

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: 2760

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: 446197

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: 1396

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: 604

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: 450

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: 446197

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: 2615

"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: 446197
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