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Re: Do you diversify into international bond?

Sooooo, questions - 1) Do you hold international bonds? Yes. If so, hedged or not and which particular instrument? Unhedged. 1/3 each of: BND (US Total Bond) EMLC (Emerging Markets) IGOV (Developed Markets ex-US) Note: IGOV is only 77% foreign (non-Japan), so 23% of it counts towards my domestic (J...
by bpp
Wed Aug 20, 2014 6:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Do you diversify into international bond?
Replies: 31
Views: 1733

Re: Help with 401k Options [Japan]

Wow, you're right, looks like the Daiwa funds reinvest all dividends internally. No distributions in the past decade. Which means they are already perfectly tax-efficient, so no need to hold them in a 401k. The Topix fund must be internally reinvesting almost, but not quite, all of its dividends, si...
by bpp
Wed Aug 20, 2014 8:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with 401k Options [Japan]
Replies: 4
Views: 258

Re: Help with 401k Options [Japan]

If it is only going to be 3-4% of your portfolio, I suppose it doesn't matter too much what you do. But, as for whether to put bonds or stocks in there, I would put the one with higher dividends in there, on the idea that that is the only place you can get tax-free dividend compounding over the long...
by bpp
Wed Aug 20, 2014 6:21 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with 401k Options [Japan]
Replies: 4
Views: 258

Re: Pension floor drops from 4% to 2.5% -- Time to bail?

As a bond, it still looks like a reasonably good deal to me. If you bailed, what would you replace it with?
by bpp
Mon Aug 11, 2014 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pension floor drops from 4% to 2.5% -- Time to bail?
Replies: 17
Views: 2727

Re: So where's that inflation many forecasted?

I'm actually seeing plenty of inflation, for the first time in 20 years.
(Not seeing the pay rises that are supposed to accompany it yet, though.)

Gasoline at 164 yen/liter.
Food being packaged in smaller and smaller packages, for the same price.
Etc.

Give it time. I'm sure you will see it too.
by bpp
Mon Aug 11, 2014 11:07 am
 
Forum: Investing - Theory, News & General
Topic: So where's that inflation many forecasted?
Replies: 43
Views: 2599

Re: Poll: What's the name of Argentina's stock market?

...But is the name really important?... Well, not only am I getting beaten up pretty bad, but people aren't falling for the "distractors..." I would defend the meaningfulness of "general knowledge" as a quick sample of whether you know the important things. It might have been mo...
by bpp
Sat Aug 09, 2014 8:33 pm
 
Forum: Investing - Theory, News & General
Topic: Poll: What's the name of Argentina's stock market?
Replies: 37
Views: 2251

Re: Poll: What's the name of Argentina's stock market?

sscritic wrote:
Professor Emeritus wrote:Heck if you want a good question ask who owns the New York Stock Exchange!

Or whether the real name is now NYSE.


And on which US exchange do US-domiciled ETFs now trade?
Hint: it's not AMEX anymore. But it does begin with an "A."
by bpp
Sat Aug 09, 2014 9:52 am
 
Forum: Investing - Theory, News & General
Topic: Poll: What's the name of Argentina's stock market?
Replies: 37
Views: 2251

Re: How do you address your inlaws and being addressed?

It must be cultural. In my Chinese soap operas, as soon as you are engaged, you call your future in-laws Mom and Dad or the equivalent. I married into a similar culture, except it started after the marriage, not before. Similar in Japan. It was made clear to me from that start that my in-laws were ...
by bpp
Sat Aug 09, 2014 9:42 am
 
Forum: Personal Consumer Issues
Topic: How do you address your inlaws and being addressed?
Replies: 84
Views: 4707

Re: How do you address your inlaws and being addressed?

It must be cultural. In my Chinese soap operas, as soon as you are engaged, you call your future in-laws Mom and Dad or the equivalent. I married into a similar culture, except it started after the marriage, not before. Similar in Japan. It was made clear to me from the start that my in-laws were t...
by bpp
Sat Aug 09, 2014 9:09 am
 
Forum: Personal Consumer Issues
Topic: How do you address your inlaws and being addressed?
Replies: 84
Views: 4707

Re: Poll: What's the name of Argentina's stock market?

My point (which may get undercut if an overwhelming number of people give the correct answer!) is that really we need to have some humility about our understanding of international finance. I like to think I have humility (though that may really be another form of arrogance), which is why I let oth...
by bpp
Sat Aug 09, 2014 8:38 am
 
Forum: Investing - Theory, News & General
Topic: Poll: What's the name of Argentina's stock market?
Replies: 37
Views: 2251

Re: Boglehead-style Investing for a Yen-based Income Earner

Thanks BPP. I just did a search on the life insurance scheme as well and as you said, it seems like it is a terrible investment idea. Link for anyone interested: http://forum.mrmoneymustache.com/investor-alley/i-dun-goofed/ I continue to become disgusted by the tactics of financial advisers - is it...
by bpp
Tue Aug 05, 2014 8:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Boglehead-style Investing for a Yen-based Income Earner
Replies: 12
Views: 1204

Re: Boglehead-style Investing for a Yen-based Income Earner

Thank you all for the very helpful advice. A couple more questions: 1. It looks like as a US citizen / Japan permanent resident I am taxed on global income in both Japan and the US and it looks like I can only get foreign tax credits on income earned (through salary and wages). Does this mean that ...
by bpp
Tue Aug 05, 2014 9:23 am
 
Forum: Investing - Help with Personal Investments
Topic: Boglehead-style Investing for a Yen-based Income Earner
Replies: 12
Views: 1204

Re: Boglehead-style Investing for a Yen-based Income Earner

I wrote: You will not be able to buy any US-based ETFs that cover just Japan through a Japanese broker, though. And I have just discovered, that is no longer true! It looks like Nomura has been expanding their US-based ETF offerings lately, and I see that one fund they now offer is the iShares MSCI ...
by bpp
Tue Aug 05, 2014 6:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Boglehead-style Investing for a Yen-based Income Earner
Replies: 12
Views: 1204

Re: Are utility stocks no longer safe?

Seems to me the issue should not be so much whether utilities show interest-rate sensitivity, but whether they show individual-stock risk.
Which they obviously do.
That is why the illusion of safety with them is just that.
by bpp
Sun Aug 03, 2014 9:20 am
 
Forum: Investing - Theory, News & General
Topic: Are utility stocks no longer safe?
Replies: 22
Views: 2091

Re: Boglehead-style Investing for a Yen-based Income Earner

Thank you both for the very detailed and helpful replies! I am clearly going to need to do more research. One quick question: do you see any significant issue if I just decide to invest completely in USD? Wherever you buy Vanguard funds/ETFs, you will need to buy them with dollars. (At Nomura, they...
by bpp
Sun Aug 03, 2014 2:01 am
 
Forum: Investing - Help with Personal Investments
Topic: Boglehead-style Investing for a Yen-based Income Earner
Replies: 12
Views: 1204

Re: Are utility stocks no longer safe?

I have some Tokyo Electric stock that I'm planning to tax-loss harvest soon. It's worth about 1/10 of what I bought it for. Also have some Kansai Electric that is worth about 1/3 of what I bought it for. Not quite a juicy enough loss to harvest yet. Widows and orphans stocks? More like widow-maker ...
by bpp
Fri Aug 01, 2014 8:51 am
 
Forum: Investing - Theory, News & General
Topic: Are utility stocks no longer safe?
Replies: 22
Views: 2091

Re: Are utility stocks no longer safe?

I have some Tokyo Electric stock that I'm planning to tax-loss harvest soon. It's worth about 1/10 of what I bought it for. Also have some Kansai Electric that is worth about 1/3 of what I bought it for. Not quite a juicy enough loss to harvest yet. Widows and orphans stocks? More like widow-maker s...
by bpp
Fri Aug 01, 2014 7:11 am
 
Forum: Investing - Theory, News & General
Topic: Are utility stocks no longer safe?
Replies: 22
Views: 2091

Re: Do any boggleheads invest in individual companies?

However I don't agree it's 'fruitless to talk about diversification' to people who believe the CAPM isn't necessarily exactly the world and believe they can achieve better (or more suitable to them) risk/return with individual stocks where they *do* read the financials and study the companies. Thes...
by bpp
Thu Jul 31, 2014 4:20 am
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: Do any boggleheads invest in individual companies?

However I don't agree it's 'fruitless to talk about diversification' to people who believe the CAPM isn't necessarily exactly the world and believe they can achieve better (or more suitable to them) risk/return with individual stocks where they *do* read the financials and study the companies. Thes...
by bpp
Wed Jul 30, 2014 8:09 pm
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: Do any boggleheads invest in individual companies?

Here is an idea: I toss $25,000 into my local gas company, the dividend will pay my gas bill, I now have liability matching :wink: Hey you never know it may just work out. Until the gas company gets into a difficult situation, and is forced to raise prices and cut their dividend. Think Tokyo Electr...
by bpp
Wed Jul 30, 2014 8:05 pm
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: Owning individual stocks to harvest tax losses

I started buying individual Japanese stocks to avoid PFIC issues on my US taxes, which pretty much automatically makes it worthwhile independent of any other considerations. Lately I've started doing loss harvesting to save on my Japanese taxes. Losses in Japan can only be carried forward for 3 year...
by bpp
Tue Jul 29, 2014 8:44 pm
 
Forum: Investing - Theory, News & General
Topic: Owning individual stocks to harvest tax losses
Replies: 17
Views: 1113

Re: Do any boggleheads invest in individual companies?

However back to the general case, IMO those who would make a statement like 'you should have 50-100 individual stocks if you do it 30 *might* be OK' (50-100 is ridiculously too many from a practical POV, even 30 might be stretching it in that respect) are assuming the single stock investor is tryin...
by bpp
Tue Jul 29, 2014 8:15 pm
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: Do any boggleheads invest in individual companies?

I still want to know the bad about holding the individual blue chip companies if you are re-investing and holding strong through the drop in the market. After all, Graham says this is the time to buy more shares. So , is is really bad if you are going to hold the companies and re-invest for many ye...
by bpp
Tue Jul 29, 2014 5:02 am
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: Do any boggleheads invest in individual companies?

Thanks for all the insightful and very helpful responses!! Boggleheads is very helpful and I am very glad I found it. I guess it would help if I told the secret companies I still own from inheritance - pretty simple it's only 4: Norfolk Southern (nsc), Dominion Resources (d), At & T (t), and Ve...
by bpp
Mon Jul 28, 2014 10:33 pm
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: POLL: My home is worth less/more in 2014 than in 2007?

No idea, but I assume it depreciates a little every year.
by bpp
Mon Jul 28, 2014 8:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: My home is worth less/more in 2014 than in 2007?
Replies: 94
Views: 5691

Re: Do any boggleheads invest in individual companies?

I still want to know the bad about holding the individual blue chip companies if you are re-investing and holding strong through the drop in the market. After all, Graham says this is the time to buy more shares. So , is is really bad if you are going to hold the companies and re-invest for many ye...
by bpp
Mon Jul 28, 2014 7:09 pm
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: Do any boggleheads invest in individual companies?

riptide wrote:Does anybody hold individual companies, as a portion of your portfolio?


Yes: Passively managing individual stocks

Anybody with a riskier 80/20 Stocks to bonds??


No.
by bpp
Mon Jul 28, 2014 8:44 am
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5738

Re: Boglehead-style Investing for a Yen-based Income Earner

By the way, here are a couple of links with information on taxes that are relevant to US citizens living in Japan, which may or may not come in handy:

Wiki page: Taxation as a US person living abroad

Forum thread: Filing Japanese tax returns (確定申告)
by bpp
Mon Jul 28, 2014 4:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Boglehead-style Investing for a Yen-based Income Earner
Replies: 12
Views: 1204

Re: Boglehead-style Investing for a Yen-based Income Earner

Welcome! First, be glad you didn't manage to google up any Tokyo-based investment advisors. Most likely they would just cost you money, unless they are Boglehead advisors -- and if they are, you can get the same advice here for free. (But note on the flip side that we are not professional advisors h...
by bpp
Sun Jul 27, 2014 11:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Boglehead-style Investing for a Yen-based Income Earner
Replies: 12
Views: 1204

Re: SAT preparation

My daughter will be a junior this year. She is very good student (IB student, takes numerous AP, straight A, does research in Univ of Miami Breast Cancer Institute, was spelling bee champ in Broward and list goes on) She thinks that she needs SAT coaching. My experience with the SAT is many decades...
by bpp
Sat Jul 12, 2014 10:47 am
 
Forum: Personal Consumer Issues
Topic: SAT preparation
Replies: 30
Views: 2446

Re: No New Schwab Accounts for US Expats in Japan

Thanks for the heads up, Karamatsu.

The "Investing in Japan" Wiki page has been updated to reflect this development: http://www.bogleheads.org/wiki/Investin ... _brokerage
by bpp
Fri Jul 11, 2014 1:04 am
 
Forum: Investing - Theory, News & General
Topic: No New Schwab Accounts for US Expats in Japan
Replies: 3
Views: 808

Re: US citizens abroad cannot invest through [Fidelity]

plats wrote:On another topic, I got a follow-up email from Fidelity today after getting a letter last week.


What did they say?
by bpp
Tue Jul 08, 2014 6:42 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: International exposure: does it really help?

Image

You feeling lucky, punk?
by bpp
Tue Jul 08, 2014 9:52 am
 
Forum: Investing - Theory, News & General
Topic: International exposure: does it really help?
Replies: 75
Views: 7696

Re: US citizens abroad cannot invest through [Fidelity]

So what you see is that all net gains and losses in previous years are "encoded" in the amount of the adjusted basis, avoiding any weird discontinuities no matter what happens. The key point is that your basis never gets adjusted below what you actually paid. It can't (a) because that wou...
by bpp
Mon Jul 07, 2014 8:08 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through [Fidelity]

Thought experiment: Buy $10,000 worth of PFIC, and it doubles by the end of the year. Then it stays constant at $20,000 for the next few years. Under your scenario, every year one would have to declare a $10,000 gain? (Because the basis never changes.) That would be unreasonable in a different dire...
by bpp
Mon Jul 07, 2014 7:07 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through [Fidelity]

I think the notion of MTM as an instantaneous sale/repurchase at the end of the year may be a useful analogy but isn't entirely accurate. The form, at least, asks only for the market value of the PFIC stock and the end of the year and your adjusted basis at the end of the year. If you consider the ...
by bpp
Mon Jul 07, 2014 6:45 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through [Fidelity]

I think the notion of MTM as an instantaneous sale/repurchase at the end of the year may be a useful analogy but isn't entirely accurate. The form, at least, asks only for the market value of the PFIC stock and the end of the year and your adjusted basis at the end of the year. If you consider the ...
by bpp
Mon Jul 07, 2014 7:15 am
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through [Fidelity]

So let's use another example: Let's say a US citizen invests $1 million in an offshore mutual fund, and in year 1, it drops -90% to $100,000. PFIC losses can't be carried forward, so that loss is a pure loss. Then in year 2, it jumps back to $1 million, and assuming around 35% ordinary income tax r...
by bpp
Mon Jul 07, 2014 4:03 am
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through [Fidelity]

From what I understand, PFIC mark-to-market is a disaster Likewise the maths in your example don't take into account the way that losses are recognized. It's true that you will pay $350K in taxes in the odd numbered years, but by applying the losses you will also save $350K in taxes in the even-num...
by bpp
Sun Jul 06, 2014 11:06 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: Bernstein: Don’t Bother With International Bonds

Read in the paper this morning that the Japanese Government Pension Investment Fund (which is where the funds for Japan's version of Social Security are held) has the following allocation: 55.4% Japanese bonds 16.5% Japanese stocks 11.1% Foreign bonds 16.5% Foreign stocks 1.5% short-term instruments...
by bpp
Sat Jul 05, 2014 2:02 am
 
Forum: Investing - Theory, News & General
Topic: Bernstein: Don’t Bother With International Bonds
Replies: 112
Views: 9182

Re: US citizens abroad cannot invest through [Fidelity]

Regarding the Fidelity site, apparently Fidelity uses Akamai to play DNS tricks with name resolution so people get a server mirror that's close to them for better performance. My guess is that the mirror site hasn't been given the correct certificate for some reason, because it's still showing as i...
by bpp
Thu Jul 03, 2014 9:49 am
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through a US brokerage

I ensure I'm 100% complaint with the laws of the country I'm living in, in addition to U.S. laws, so don't see why Vanguard/Fidelity need to treat me like a child. I don't think they are treating you like a child, I think they are just covering their own behinds. Your being 100% compliant everywher...
by bpp
Thu Jul 03, 2014 7:46 am
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through [Fidelity]

To be on the safe side, US citizen expats might need to use a US address (not PO box), US phone number, and US VPN. ...in order to attempt to conceal a false declaration? That seems like an unusual definition of "safe." I never said anything about a false declaration. You are giving them ...
by bpp
Thu Jul 03, 2014 6:03 am
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through [Fidelity]

normaldude wrote:To be on the safe side, US citizen expats might need to use a US address (not PO box), US phone number, and US VPN.


...in order to attempt to conceal a false declaration?
That seems like an unusual definition of "safe."
by bpp
Wed Jul 02, 2014 10:32 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: US citizens abroad cannot invest through a US brokerage

As a US citizen abroad for 9 years, I'm far from concerned about this. I've opened multiple accounts (both bank and brokerage) with companies that claim only US residents can open accounts. The main point is that they do not know I live abroad. I never provided them a foreign address. And they can'...
by bpp
Wed Jul 02, 2014 8:00 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 8042

Re: NISA Providers (Japan)

That's a problem with the extreme discount brokers, like SBI and Rakuten. You could try asking some of the more expensive brokers like Nomura, SMBC Nikko or Daiwa. Don't know what their policies are in this regard, but they may be more flexible, for a price. (Still may be cheaper than Shinsei, thoug...
by bpp
Wed Jul 02, 2014 9:30 am
 
Forum: Investing - Help with Personal Investments
Topic: NISA Providers (Japan)
Replies: 11
Views: 754

Re: burning 1 lb is how many calories?

Additionally, framing this in the form of calories in/calories out and citing the laws of thermodynamics only states the obvious observation of what is occurring. They say nothing as why someone gains/loses weight or what is actually causing the effect. If you try to infer cause and effect from cal...
by bpp
Tue Jul 01, 2014 11:51 pm
 
Forum: Personal Consumer Issues
Topic: burning 1 lb is how many calories?
Replies: 69
Views: 5725

Re: burning 1 lb is how many calories?

While weight gain/lost = calories in - calories burned, the "calories burned" hides a very large amount of important detail. But, those are the basics, no? Sure, there are fine details on how the body can be made absorb or burn calories in a more or less efficient manner, but the basic th...
by bpp
Tue Jul 01, 2014 9:34 am
 
Forum: Personal Consumer Issues
Topic: burning 1 lb is how many calories?
Replies: 69
Views: 5725

Re: O Canada!

- what documents would we need to carry with us to bring my nine-year-old niece with us? Passports for everybody, including the niece. - obviously, because of toll rules associated with the car, I would not want to go through E-tolls. Is the friendship bridge E-tolled or is it manned so that we cou...
by bpp
Tue Jul 01, 2014 9:13 am
 
Forum: Personal Consumer Issues
Topic: O Canada! Questions about traveling to Canada :-)
Replies: 34
Views: 3638

Re: The Millionaire Next Door: Are You One?

1) I'm not a millionaire.
2) I don't live next door. (The neighbors do.)
by bpp
Sun Jun 29, 2014 11:03 pm
 
Forum: Personal Consumer Issues
Topic: The Millionaire Next Door: Are You One?
Replies: 187
Views: 22699
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