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Re: Do you adjust your AA based on valuations?

I had been 50/50 US/Int. My TSM allocation exceeded its band so I made a couple of planned charitable contributions with fund shares in lieu of cash. In the meantime, I've been nudging up my international allocation (Int Value, EM, and ex-Us Small Cap) up to around 52%, just based on relative valuat...
by allocator
Sat May 11, 2013 10:13 am
 
Forum: Investing - Theory, News & General
Topic: Do you adjust your AA based on valuations?
Replies: 94
Views: 5002

Re: NY FED - Are Stocks Cheap a Review of The evidence

Interesting read, though I take such forecasts with a hefty grain of salt, as I'm sure most Bogleheads do (my cynical impulse is to interpret the article as a prelude to the apocolypse). A question for Larry: "This is the whole money illusion problem." Would you be so kind as to elaborate?...
by allocator
Thu May 09, 2013 8:53 am
 
Forum: Investing - Theory, News & General
Topic: NY FED - Are Stocks Cheap a Review of The evidence
Replies: 9
Views: 857

Re: Rebalance using charitable contributions?

THANK YOU for all the great responses. Yes, these are budgeted, charitable contributions we make every year. We just want to be a little smarter about it this year :wink:
by allocator
Thu May 09, 2013 8:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Rebalance using charitable contributions?
Replies: 31
Views: 968

Re: Rebalance using charitable contributions?

Thanks for the feedback. Very helpful as always.
by allocator
Wed May 08, 2013 12:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Rebalance using charitable contributions?
Replies: 31
Views: 968

Rebalance using charitable contributions?

We are now overweight TSM. Is there any downside to using appreciated shares for a planned charitable contribution (LT cap gains only) in lieu of cash?

Tax situation: 39.6% fed, 9% state.

Thanks!
by allocator
Wed May 08, 2013 10:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Rebalance using charitable contributions?
Replies: 31
Views: 968

Re: POLL: Miss The 4-5 Years?

I checked "stayed the course" though I probably did so too much. This was before I became a BH, before I knew about TLHing and AA, before I understood the folly of active management, before I knew anything about finding an AA and sticking with it, before I had a clue or a plan. What all th...
by allocator
Fri May 03, 2013 11:36 am
 
Forum: Investing - Theory, News & General
Topic: POLL: Miss The 4-5 Years?
Replies: 62
Views: 4277

Re: Where to Put Money Set Aside for Kids

I agree with momar. Forget about mental accounting and just invest for yourselves. If you want to give money to your kids, then give money to your kids. Don't make it complicated because it is not complicated. Agree. But I also want to present an alternative my wife and I are discussing (we have ki...
by allocator
Wed May 01, 2013 10:00 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to Put Money Set Aside for Kids
Replies: 18
Views: 1898

Re: Allan Roth: "Fixing Obama's Finances"

The thread title should be edited to read "Fixing The Obama's Finances" so that it is not misconstrued as political commentary on fiscal policy as opposed a look into and critique of their personal income tax return. I fixed it. Thank you - sorry about that! What I found interesting was t...
by allocator
Sat Apr 27, 2013 6:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Allan Roth: Fixing [The] Obama's Finances"
Replies: 22
Views: 2487

Allan Roth: Fixing [The] Obama's Finances"

This is most definitely NOT intended to be a political discussion. Rather, Roth basically offers up some portfolio and financial advice to the President. Intersting recommendations consistent with what we see on the forum every day, aimed at fixing the same kind of "mistakes" we might pres...
by allocator
Sat Apr 27, 2013 4:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Allan Roth: Fixing [The] Obama's Finances"
Replies: 22
Views: 2487

Re: 401k Plan Administrative expenses??

My wife has her 401k @ Fidelity. Unfortunately her company benefits person seems utterly incapable of providing a straight, well-informed response to the the question, "what are the fees we are paying for the 401k plan above the fund expense ratios?" Where did you find such detailed infor...
by allocator
Fri Apr 26, 2013 11:29 am
 
Forum: Investing - Help with Personal Investments
Topic: 401k Plan Administrative expenses??
Replies: 13
Views: 1508

Re: 401k Plan Administrative expenses??

My wife has her 401k @ Fidelity. Unfortunately her company benefits person seems utterly incapable of providing a straight, well-informed response to the the question, "what are the fees we are paying for the 401k plan above the fund expense ratios?" Where did you find such detailed inform...
by allocator
Fri Apr 26, 2013 6:37 am
 
Forum: Investing - Help with Personal Investments
Topic: 401k Plan Administrative expenses??
Replies: 13
Views: 1508

Re: Mom demands trust be professionally managed

I would absolutely leave it alone. This is not just about money. Consider the .7% management fee the tuition for your investment education. Continue reading and learning. Meet with the manager, get a sense of his thinking. Even if you think he's dead wrong about everything, you can still learn somet...
by allocator
Thu Apr 25, 2013 12:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mom demands trust be professionally managed
Replies: 67
Views: 4039

Re: Inflation protected bond fund?

Re: Inflation protected bond fund? by allocator » Fri Apr 12, 2013 4:36 pm How about Fidelity Spartan Inflation Protected (FSIYX), ER .10% ? http://www.morningstar.com/invest/funds/122855-fsiyx-fidelity-spartan-infl-prot-bd-idx-fid-ad.html My apologies. It didn't register that this was for a taxabl...
by allocator
Fri Apr 12, 2013 9:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Inflation protected bond fund?
Replies: 15
Views: 1519

Re: Moving stuff around

Any thoughts about retiring the home equity loan?
by allocator
Sun Apr 07, 2013 1:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Moving stuff around
Replies: 16
Views: 1102

Re: Anyone selling these days?

Nope - just buying in international (VWO, VSS, EFV) according to allocation plan I began a few months ago. Hit US targets sooner with help from recent rally; three more scheduled purchases over next three months.
by allocator
Sat Apr 06, 2013 6:57 pm
 
Forum: Investing - Theory, News & General
Topic: Anyone selling these days?
Replies: 33
Views: 2693

Re: Do you discuss your estate with your future heirs?

I wish I had time for a more substantial reply. Though my children are quite young, when the time comes we will begin what I hope will be an ongoing discussion about finances and estate planning. My parents, who were by no means wealthy, were very open about finances and estate planning, including i...
by allocator
Wed Apr 03, 2013 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you discuss your estate with your future heirs?
Replies: 38
Views: 2726

Re: What Book Are You Currently Reading? Part V

Just saw this thread for the first time - what a find!

Blood Meridian by Cormac McCarthy

Inferno: The World at War 1939-1945 by Max Hastings

edited for spelling error
by allocator
Wed Apr 03, 2013 12:58 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part V
Replies: 2626
Views: 596897

Re: Thankful

I appreciate your contributions to the forum.


+1
by allocator
Sun Mar 31, 2013 12:12 am
 
Forum: Local Chapters and Bogleheads Community
Topic: Thankful
Replies: 8
Views: 1341

Re: Choosing the "right" international allocation

I'm at 50/50. You might want to check out this thread from the other day, "Fama French for Non US Equities" http://www.bogleheads.org/forum/viewtopic.php?f=10&t=113668

See especially the linked papers.

Good luck.
by allocator
Sat Mar 30, 2013 7:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Choosing the "right" international allocation
Replies: 48
Views: 2642

Re: Fama French for Non US Equities

EDN: Thanks for the informative and relatively non-technical link. By the way, you shouldn't read this article without also reading this paper by Rex Sinquefield about how to diversify across small/value asset classes globally to enhance portfolio efficiency: https://www.savantcapital.com/uploadedF ...
by allocator
Fri Mar 29, 2013 9:12 pm
 
Forum: Investing - Theory, News & General
Topic: Fama French for Non US Equities
Replies: 5
Views: 578

Re: Forget set it and forget it planning

A clear implication of what he is saying is that one shouldn't set a stock/bond asset allocation, rebalance, and stay the course. Rather one should be adjusting the asset allocation over time to changing circumstances. BobK It sounds like he is selling a tactical asset allocation process. It seems ...
by allocator
Fri Mar 29, 2013 11:01 am
 
Forum: Investing - Theory, News & General
Topic: Forget set it and forget it planning
Replies: 21
Views: 2530

Re: Adding regular new money to portfolio - DCA vs rebalance

Complete noob here, but I see two potential problems with option 2. The first is that #2 is more time and labor intensive for a questionable benefit. The second - and perhaps more important concern, is that your money will be sitting on the sidelines for relatively long periods of time. You are maki...
by allocator
Tue Mar 26, 2013 2:09 pm
 
Forum: Investing - Theory, News & General
Topic: Adding regular new money to portfolio - DCA vs rebalance
Replies: 19
Views: 1110

Re: Questions re: Expected Return Assumptions and allocation

Billion dollar college endowments aren't beating the market, pension funds with tens to hundreds of billions of dollars aren't beating the market, but the magic elixir of a Morningstar subscription, Shiller's CAPE data, and the right mix of fundamentally weighted niche ETFs will succeed where every...
by allocator
Fri Mar 22, 2013 10:41 pm
 
Forum: Investing - Theory, News & General
Topic: Questions re: Expected Return Assumptions and allocation
Replies: 6
Views: 396

Re: Questions re: Expected Return Assumptions and allocation

Eric- I appreciate your very frank and very generous response. Its now tacked above my desk. Though we (my wife and I) have done reasonably well, earning for us has never been simple or straightforward. It's difficult to come to a point cognitively to accept that investing (at least the allocation p...
by allocator
Fri Mar 22, 2013 5:11 pm
 
Forum: Investing - Theory, News & General
Topic: Questions re: Expected Return Assumptions and allocation
Replies: 6
Views: 396

Questions re: Expected Return Assumptions and allocation

I have some tax-advantaged space opening up in a SEP IRA and was considering adding DGS (WisdomTree Emerging Mkts Small Cap) to augment VSS (Vanguard FTSE ex-US small cap) held in taxable. My thinking here is that although it is a less-than-perfect proxy for an International Small Value ETF, it may ...
by allocator
Fri Mar 22, 2013 3:50 pm
 
Forum: Investing - Theory, News & General
Topic: Questions re: Expected Return Assumptions and allocation
Replies: 6
Views: 396

Re: The prudent way to increase expected returns

Larry, Thank you again for your response to my question. As I began to work on my calculations, it occurred to me that expected returns for various asset classes would be based on Fama/French research using their criteria for large, small and value. As the instruments available to most investors on ...
by allocator
Mon Mar 18, 2013 3:00 pm
 
Forum: Investing - Theory, News & General
Topic: The prudent way to increase expected returns
Replies: 31
Views: 3959

Re: The prudent way to increase expected returns

Great - thanks, Larry.
by allocator
Mon Mar 18, 2013 10:18 am
 
Forum: Investing - Theory, News & General
Topic: The prudent way to increase expected returns
Replies: 31
Views: 3959

Re: The prudent way to increase expected returns

Larry, First, I am utterly indebted and very grateful to you for improving the financial life of my family. Conceptually, I'm with you with respect to increasing the riskiness of the equity portion of a portfolio (in the hope of achieving higher expected returns in that portion of the portfolio), wh...
by allocator
Mon Mar 18, 2013 1:03 am
 
Forum: Investing - Theory, News & General
Topic: The prudent way to increase expected returns
Replies: 31
Views: 3959

Re: 12 Cognitive Biases That Endanger Investors

Personally, I'm not so sure that momentum does exist. For a good century now, investors have believed in the existence of momentum by that name. If it really ever existed, it's pretty hard for me to believe that nobody has caught on to it yet and arbitraged it away. Couldn't the same be said of the...
by allocator
Sun Mar 17, 2013 7:20 pm
 
Forum: Investing - Theory, News & General
Topic: 12 Cognitive Biases That Endanger Investors
Replies: 19
Views: 2239

Re: Managed to unmanaged account... transition

Before you sell, you might want to consider trading costs (commissions). Where will it be cheaper to make the sales - with your present broker or at Vanguard? Your broker might have an unpleasant and unwanted parting gift for you.
by allocator
Wed Mar 13, 2013 11:24 pm
 
Forum: Investing - Theory, News & General
Topic: Managed to unmanaged account... transition
Replies: 16
Views: 573

Re: I hit my number today.

Congratulations.
by allocator
Wed Mar 06, 2013 11:23 pm
 
Forum: Investing - Theory, News & General
Topic: I hit my number today.
Replies: 74
Views: 7219

Asset Allocation & Int Rates (from The Capital Spectator)

Interesting analysis on the components of interest rates, and rather Bogleheadian advice.

http://www.capitalspectator.com/archives/2013/03/asset_allocatio_7.html#more
by allocator
Tue Mar 05, 2013 1:29 pm
 
Forum: Investing - Theory, News & General
Topic: Asset Allocation & Int Rates (from The Capital Spectator)
Replies: 0
Views: 145

Re: Percent allocation to TIPS?

1/3 of fixed income in TIPS (VAIPX, FSIYX), 10% overall.
by allocator
Tue Mar 05, 2013 2:33 am
 
Forum: Investing - Theory, News & General
Topic: Percent allocation to TIPS?
Replies: 25
Views: 3786

Re: What does your international equity allocation look like

International is 1/2 of total equity allocation: 1/3 Developed Markets - Schwab International Equity ETF (SCHF) 1/3 Emerging Markets - Vanguard FTSE Emerging Mkts ETF (VWO) 1/3 International SmallCp (VAnguard FTSE All World ex-US SmallCp ETF (VSS) So I'm tilting Small and Emerging in International a...
by allocator
Mon Mar 04, 2013 2:01 pm
 
Forum: Investing - Theory, News & General
Topic: What does your international equity allocation look like?
Replies: 66
Views: 3193

Re: WSJ article on "The 4% Rule" HERE is the link

Sorry about the link :oops: .

With respect to withdrawals being pegged to P/E ratios, the research was based on a 60/40 stock/bond allocation. How many of us will be going into retirement with 60% in equities?
by allocator
Mon Mar 04, 2013 11:20 am
 
Forum: Investing - Theory, News & General
Topic: WSJ article on "The 4% Rule" Here is the link.
Replies: 66
Views: 8978

WSJ article on "The 4% Rule" Here is the link.

"Say goodbye to the 4% rule". Those of you planning for, or are in, retirement (I'm guessing that's just about all of us :wink:) might find this interesting.

http://online.wsj.com/article/SB1000142 ... =rss_Money

SORRY!
by allocator
Mon Mar 04, 2013 10:16 am
 
Forum: Investing - Theory, News & General
Topic: WSJ article on "The 4% Rule" Here is the link.
Replies: 66
Views: 8978

Re: Help with new 401k options, please

Thanks for responding. 1. You don't list the ERs of the Intermediate Treasury and Total Bond, but all things equal I would prefer Total Bond, as it gives you a more diversified bond exposure. Plenty of people choose to stick with treasuries for their bond holdings, so either choice is probably fine....
by allocator
Fri Mar 01, 2013 11:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with new 401k options, please
Replies: 3
Views: 213

Help with new 401k options, please

Hi all. My wife's 401k has surprisingly added a couple of indexing options and I could use some help deciding on possible changes. We've got a 70/30 Stock bond split with a small/value tilt. First, we have about 20% of our bond allocation in Vanguard's Intermediate Treasury fund (VFIUX) (the rest is...
by allocator
Fri Mar 01, 2013 12:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with new 401k options, please
Replies: 3
Views: 213

Re: Finding factor exposure overseas

[quote="LadyGeek"]If you're comfortable reading Robert T's posts, perhaps you might want to look at this from a more global perspective: Multifactor investing - a comprehensive tutorial - finiki

Thank you for the link. I'll get right to it. "Comfort" is a relative term :)
by allocator
Wed Feb 27, 2013 7:16 pm
 
Forum: Investing - Theory, News & General
Topic: Finding factor exposure overseas
Replies: 2
Views: 134

Finding factor exposure overseas

If I understand the Fama/French perspective, the factor exposure of a portfolio is all that matters with respect to expected returns, Below I quote Robert T (who's site here has become a valued resource) from a 2007 post discussing Fama/French and factor exposure: "what matters for expected ret...
by allocator
Wed Feb 27, 2013 6:50 pm
 
Forum: Investing - Theory, News & General
Topic: Finding factor exposure overseas
Replies: 2
Views: 134

Re: [Investing with diminished] memory

Terrific, important post. One thing I'd like to add to the above suggestions is to have an ongoing "financial dialogue" with spouse, children, and/or other heirs - one which includes reviews of all banking and brokerage statements. This serves a number of important functions throughout our...
by allocator
Mon Feb 25, 2013 9:34 am
 
Forum: Investing - Theory, News & General
Topic: [Investing with diminished] memory
Replies: 75
Views: 4737

Re: Post your Morningstar X-Ray Style Box

This is for all equities:

17-21-18
07-07-06
10-10-05
by allocator
Thu Feb 21, 2013 10:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Post your Morningstar X-Ray Style Box
Replies: 71
Views: 3275

Re: Portfolio Help, Please: Ready, Fire, Aim

Thanks, Livesoft. While I own DGS and have owned DLS, I don't think you need them as VSS does that job. If you do want them, but are not committed to have 5% or more of them, then I have to ask why bother? Good question. This is exactly where I get a little stuck. My thinking was that if I do want t...
by allocator
Thu Feb 21, 2013 10:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help, Please: Ready, Fire, Aim
Replies: 2
Views: 268

Portfolio Help, Please: Ready, Fire, Aim

Hi all. This is a follow-up post to a request for help last December. I’ve followed up assembling the portfolio as originally posted in December http://www.bogleheads.org/forum/viewtopic.php?f=1&t=107474 .It’s been much more work than I’d anticipated and I’ve learned a lot - the most important l...
by allocator
Thu Feb 21, 2013 8:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help, Please: Ready, Fire, Aim
Replies: 2
Views: 268

Re: Treat your mortgage as a "negative exposure" to bonds?

I made a similar post on a similar thread earlier today. What about splitting the difference? I know there are some philosophical issues with respect to prepaying a mortgage, as well as some more direct "rational" analyses. I find myself bouncing back and forth between the two perspectives...
by allocator
Mon Feb 18, 2013 10:35 pm
 
Forum: Investing - Theory, News & General
Topic: Treat your mortgage as a "negative exposure" to bonds?
Replies: 188
Views: 8506

splitting the difference?

Two more thoughts:

1) how would a rising inflation rate environment change the calculus?

2) what if the mortgagee does not wish to stay in the house "forever" - just 'til the kids are grown (let's say 15 years from now)? Does that change things?
by allocator
Mon Feb 18, 2013 12:29 pm
 
Forum: Investing - Theory, News & General
Topic: Is there a rate at which it is irrational to pay off mortgag
Replies: 54
Views: 4257
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