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Re: Minimizing Taxes

Hi, My wife and I are in the proverbial "1%". The problem is we're both employees which means we are both getting our w-2's. We max out on all the possible 401k's, 529's, HSA's, etc. We don't have a mortgage and we live a relatively frugal lives so we have a sizable nest egg. Most of our ...
by manwithnoname
Sat Apr 05, 2014 2:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Minimizing Taxes
Replies: 17
Views: 988

Re: Where is the Vanguard 03/31/2014 statement?

I am in no hurry to get quarterly statements. I checked my accounts online on 4/1 which gave me the info I needed. I don't know why there is an obsession to have statements posted. I reminds me of back in the day when retirees would go to the bank on the first of each month to get the interest for t...
by manwithnoname
Sat Apr 05, 2014 1:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where is the Vanguard 03/31/2014 statement?
Replies: 32
Views: 2047

Re: somoene filed a return with my spouses SSN?

This is another excellent reason to adjust your withholding so you don't get a refund. JW I don't think that makes a difference since the fraudster can just fudge the numbers to give big returns. It's too bad the IRS isn't cracking down on this more. No difference to the fraudster, but it certainly...
by manwithnoname
Sat Apr 05, 2014 12:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: somoene filed a return with my spouses SSN?
Replies: 22
Views: 1768

Re: How are you preparing for the coming bear market

StarbuxInvestor wrote:Since Bear markets happen on a regular basis there is one coming, not that anyone knows when. Is there anything you do to prepare for the coming bear market beyond "stay the course"?


If you give me a date I can tell you what I will do at that time.
by manwithnoname
Sat Apr 05, 2014 12:34 pm
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7815

Re: Which parts of the financial industry are improving?

Not improving. Full disclosure of fees. Okay, maybe it's better than it was but when I say "full disclosure" I mean "FULL DISCLOSURE". I'm not just talking about the DOL ruling about administrative costs, I'm talking about every single penny deducted from my plan shown to me in ...
by manwithnoname
Sat Apr 05, 2014 11:05 am
 
Forum: Investing - Theory, News & General
Topic: Which parts of the financial industry are improving?
Replies: 10
Views: 823

Re: Why is Joe Brennan defending high frequency trading?

I would expect Vanguard management, Gus Sauter, etc. to defend the status quo. Everyone nowadays makes money by taking a percentage of Assets Under Management. The more people invest, the more money is made. Nobody inside the industry wants people to think the market is rigged, which would scare aw...
by manwithnoname
Sat Apr 05, 2014 10:44 am
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3546

Re: My take on impact of HFT,

There is no further value in continuing the current discussion on HFT because whatever will be decided will be above my pay grade.

To me the entire discussion over HFT is part of the yin and yang of investing.

Good night and good luck.
by manwithnoname
Sat Apr 05, 2014 10:38 am
 
Forum: Investing - Theory, News & General
Topic: My take on impact of HFT,
Replies: 24
Views: 1577

Re: [High-frequency trading hurts regular customers]

This thread is clearly going off the tracks.
by manwithnoname
Sat Apr 05, 2014 10:08 am
 
Forum: Investing - Theory, News & General
Topic: [High-frequency trading hurts regular customers]
Replies: 107
Views: 6230

Re: My take on impact of HFT,

See Gus Sauter interview on HFT effect in reducing VG costs. He thinks HFT reduces costs. “We’ve measured our transaction costs and over the past 15 years, they’ve been cut by about 60 percent,” Sauter said. “That results in hundreds of millions of dollars a year in savings to investors in our fund...
by manwithnoname
Sat Apr 05, 2014 9:54 am
 
Forum: Investing - Theory, News & General
Topic: My take on impact of HFT,
Replies: 24
Views: 1577

Re: My take on impact of HFT,

Because the HF traders are operating under SEC rules that allow/encourage co-locations, advanced peaks etc, which are exempt from front running and insider trading and have helped reduce commissions by 60% according to VG. I don't know why retail investors are complaining about a reg that has achie...
by manwithnoname
Sat Apr 05, 2014 9:41 am
 
Forum: Investing - Theory, News & General
Topic: My take on impact of HFT,
Replies: 24
Views: 1577

Re: My take on impact of HFT,

Who cares what the SEC's position is on HFT. That's like asking what is the NTSB's position on GM's failure to rectify the ignition switch problem. Because the HF traders are operating under SEC rules that allow/encourage co-locations, advanced peaks etc, which are exempt from front running and ins...
by manwithnoname
Sat Apr 05, 2014 9:29 am
 
Forum: Investing - Theory, News & General
Topic: My take on impact of HFT,
Replies: 24
Views: 1577

Re: Why is Vanguard defending high frequency trading?

Because it benefits retail investors http://www.cbsnews.com/news/jack-bogle-michael-lewis-is-wrong-about-rigged-markets/ Schwab doesn't think so ... http://pressroom.aboutschwab.com/press-release/corporate-and-financial-news/schwab-statement-high-frequency-trading Here is a quote from the article y...
by manwithnoname
Sat Apr 05, 2014 1:33 am
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3546

Re: Help me understand Michael Lewis' "Flash Boys"

It's misleading to compare today's technological innovations to their yesterday's functional counterparts. Technology makes the difference. For example, if fMRI enabled us to read an investor's intention while it's still inside his brain, we would have to revise trading rules instead of insisting t...
by manwithnoname
Fri Apr 04, 2014 7:58 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: John Bogle, Index Icon, Accused of Timing Market

After a big run-up like we had in the past five years, if someone had a sizable portfolio, it would be silly NOT to trim back on stocks. And it has nothing to do with market timing. I invest not to maximize my profits, but to reach a target number in X years with as little risk as possible. Suppose...
by manwithnoname
Fri Apr 04, 2014 7:43 pm
 
Forum: Investing - Theory, News & General
Topic: John Bogle, Index Icon, Accused of Timing Market
Replies: 44
Views: 4952

Re: Help me understand Michael Lewis' "Flash Boys"

ftobin wrote:
manwithnoname wrote:Jack Bogle has no problem with HFT.

People from the institutional world have only very, very slowly come to know what occurs in market microstructure.


So Michael Lewis knows more than Jack bogle about how stock markets work?

LOL
by manwithnoname
Fri Apr 04, 2014 7:37 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: Why is Vanguard defending high frequency trading?

Why is Vanguard defending high frequency trading? Vanguard is not defending high frequency trading. Joe Brennan, CEO of Vanguard, is defending high frequency trading (albeit with some reservations). Joe Brennan also defends enormous compensation packages for CEOs (he just happens to be one). He als...
by manwithnoname
Fri Apr 04, 2014 7:27 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3546

Re: Why is Vanguard defending high frequency trading?

Just because HFT activity does some good things doesn't mean HFTs should be given free reign to do anything they can dream up and pull off with their technology. At the same time, presuming Lewis is correct, just because a few HFTs engage in a questionable practice doesn't mean HFT should be oblite...
by manwithnoname
Fri Apr 04, 2014 7:23 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3546

Re: Why is Vanguard defending high frequency trading?

Because it benefits retail investors http://www.cbsnews.com/news/jack-bogle-michael-lewis-is-wrong-about-rigged-markets/ It would help if you researched your question before posting. lol, a little defensive aren't we? I'm guessing you didn't even listen to the audio clip. To quote your article: &qu...
by manwithnoname
Fri Apr 04, 2014 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3546

Re: Tax Court strikes a blow to IRA Rollovers

abuss368 wrote:Remember this is regarding "rollovers" where the account holder receives a check and has 60 days to deposit.

A "direct transfer" from custodian to custodian has no limits or risks.


very few IRA transfers are rollovers between IRAs.
by manwithnoname
Fri Apr 04, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Court strikes a blow to IRA Rollovers
Replies: 98
Views: 11466

Re: Tax Court strikes a blow to IRA Rollovers

The following is Sec 401(a)(31) that specifies that a qualified plan MUST offer a direct rollover (qualified plan version of a TtoT transfer) to an employee when the employee is eligible to take an eligible rollover distribution. With the additional restriction of indirect IRA rollovers, it would m...
by manwithnoname
Fri Apr 04, 2014 5:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Court strikes a blow to IRA Rollovers
Replies: 98
Views: 11466

Re: Help me understand Michael Lewis' "Flash Boys"

ftobin wrote:
nisiprius wrote:Do high-frequency traders get to cancel their orders for free?

Everyone does.


I do. No brainer
by manwithnoname
Fri Apr 04, 2014 5:44 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: Why is Vanguard defending high frequency trading?

Just stumpled upon this article, and was surprised to see Vanguard's position: http://www.bloomberg.com/news/2014-04-03/vanguard-says-minority-of-high-speed-traders-may-abuse.html Regulators should seek ways to prevent abuses without blocking high-speed firms that may actually benefit investors by ...
by manwithnoname
Fri Apr 04, 2014 5:38 pm
 
Forum: Investing - Theory, News & General
Topic: Why is Joe Brennan defending high frequency trading?
Replies: 54
Views: 3546

Re: Help me understand Michael Lewis' "Flash Boys"

Jack Bogle has no problem with HFT. People from the institutional world have only very, very slowly come to know what occurs in market microstructure. Please explain the take away from your post because it is not obvious. Are you saying that Jack Bogle doesn't know how HFT is affecting VG and its c...
by manwithnoname
Fri Apr 04, 2014 5:29 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: Help me understand Michael Lewis' "Flash Boys"

the SEC is slow, so what? the rules are still valid. Remember, the rules are not specific. That's what FINRA and compliance departments add to. The SEC provides general rules, like best-ex. It's not a specific rule. But you have to be abiding by it -- your compliance department is supposed to enfor...
by manwithnoname
Fri Apr 04, 2014 5:24 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: Help me understand Michael Lewis' "Flash Boys"

Arg... So much misinformation. For "the other side" of the issue, I suggest... http://www.bloombergview.com/articles/2014-03-31/michael-lewis-doesn-t-like-high-frequency-traders http://tabbforum.com/opinions/no-michael-lewis-the-us-equities-market-is-not-rigged http://scottlocklin.wordpre...
by manwithnoname
Fri Apr 04, 2014 5:09 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: Help me understand Michael Lewis' "Flash Boys"

All these trading activities are regulated by the exchanges and the SEC which have not restricted them. So what is the evil being committed under the SEC regs Including NMS? First, the SEC is very, very, very slow to pick on on things. This is also FINRA's responsibilities, who are just as slow. Wa...
by manwithnoname
Fri Apr 04, 2014 1:24 pm
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: Help me understand Michael Lewis' "Flash Boys"

At the level of the actual trades, are participants--the front-runners, in this case--allowed to make offers in bad faith, offers to sell stock they actually do not intend to sell (because the only purpose of the offer is to get the would-be buyer to reveal their intentions), and then renege on the...
by manwithnoname
Fri Apr 04, 2014 11:36 am
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: Is Our Accountant Over-Charging Us?

... Local high school teacher with 30 years seniority = $70/hr Plus the overhead of the school (the school building and grounds, the non-teacher employees, textbooks, supplies, buses, cafeteria, etc.) Indeed. Not to mention the cost of the new artificial turf football field, electronic scoreboard, ...
by manwithnoname
Fri Apr 04, 2014 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Is Our Accountant Over-Charging Us?
Replies: 30
Views: 3137

Re: Help me understand Michael Lewis' "Flash Boys"

I think this explains it: http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html It looks like a longer version of Larry's explanation. When a order is made, if the order is broken up into parts then the first part of the order executed becomes inside information that front runs t...
by manwithnoname
Fri Apr 04, 2014 10:44 am
 
Forum: Investing - Theory, News & General
Topic: Help me understand Michael Lewis' "Flash Boys"
Replies: 164
Views: 8507

Re: My take on impact of HFT,

All investors need to acknowledge the obvious in analyzing HFT- the system for trading stocks today in diverse markets over IT architecture instead of a centralized market place (NYSE) was mandated by the SEC in 2005 when it issued regulation NMS (National Market System). Purpose of Reg NMS was to e...
by manwithnoname
Fri Apr 04, 2014 10:16 am
 
Forum: Investing - Theory, News & General
Topic: My take on impact of HFT,
Replies: 24
Views: 1577

Re: [High-frequency trading hurts regular customers]

I see where Charles Schwab is not happy with HFT.....he calls it a "cancer". I certainly agree with him. I commend him for the public stance he takes on it. I am sure the biggies on Wall Street don't care to hear it. Go get 'em Chuck! Don Just who are the biggies on wall st who don't want...
by manwithnoname
Thu Apr 03, 2014 10:03 pm
 
Forum: Investing - Theory, News & General
Topic: [High-frequency trading hurts regular customers]
Replies: 107
Views: 6230

Re: Tax Filing Extension

I file for an extension because I can get a 1099 or k1 in april. Since I don't get a refund I can take my time and file in Oct after I have reviewed all of the applicable deducton provisions. another reason is that I may file an amended return which has to be mailed by Apr 15th .
by manwithnoname
Thu Apr 03, 2014 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Filing Extension
Replies: 11
Views: 337

Re: Private elementary school tuition - any tax breaks?

See IRS Pub 17, P 138-139 for description of various tuition tax benefits. Don't know if any apply.
by manwithnoname
Thu Apr 03, 2014 9:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Private elementary school tuition - any tax breaks?
Replies: 11
Views: 841

Re: Self Directed IRA Custodian Recommendations

If you are only investing in non publicly traded investments you will need an IRA custodian who specializes in alternative investments. see link

http://www.theentrustgroup.com/
by manwithnoname
Thu Apr 03, 2014 8:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Self Directed IRA Custodian Recommendations
Replies: 1
Views: 208

Re: Can a company offer 401k and Profit Sharing Plan

All they have to do is adopt a 401k plan which will allow both employee contributions as well as an employer profit sharing contribution. The PS plan can be merged into the 401k plan. Of course a 401k plan has much more complexity than a simple PS plan which will have additional expenses. I'm guess...
by manwithnoname
Wed Apr 02, 2014 8:13 pm
 
Forum: Investing - Theory, News & General
Topic: Can a company offer 401k and Profit Sharing Plan
Replies: 8
Views: 613

Re: Can a company offer 401k and Profit Sharing Plan

I work for a company with roughly 100 employees. They currently offer a profit sharing plan where they make all the contributions and all the choices of holdings. So I have no way of may tax deductible retirement contributions for myself. (I am not eligible for a Trad IRA, even if I was I would wan...
by manwithnoname
Wed Apr 02, 2014 7:18 pm
 
Forum: Investing - Theory, News & General
Topic: Can a company offer 401k and Profit Sharing Plan
Replies: 8
Views: 613

Re: Signing bonus as 401k contribution?

Possible form of discrimination. One party gets a larger contribution than the other members of the class. Discrimination rules only apply to HCEs. In order to be an HCE employee must have earned more than 115k in the prior year. Cannot be an HCE in first year of employment. Problem is that employe...
by manwithnoname
Wed Apr 02, 2014 5:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Signing bonus as 401k contribution?
Replies: 14
Views: 1238

Re: Tax efficient retirement account withdrawals

Your minimum income at 70 will be over 250k which at a 2.5% cola will put you at the 33% bracket unless you have a lot of tax write offs. Best way to minimize future taxes is delay taking any SS or retirement benefits for the next 5 years (until 70) and converting to a Roth up to the max of the 25% ...
by manwithnoname
Wed Apr 02, 2014 3:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax efficient retirement account withdrawals
Replies: 9
Views: 997

Re: Vanguard role in corporate governance

Excessive compensation is not a fad. The shareholders attempting to do something about maybe a newer phenomena. I think it is absolutely an issue that Vanguard should be in the forefront of. If the largest institutional shareholders are not active in these issues, then they become compliant with th...
by manwithnoname
Wed Apr 02, 2014 2:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard role in corporate governance
Replies: 21
Views: 1061

Re: 401(k) HCE provision - How does it actually work?

Howdy. I'm back with more HCE questions. Could someone help me understand the laws regarding ADP with regard to the testing being done in the context of the corporate parent instead of on the plan level? We are owned by another company 98%-100% and I've been informed that the ADP test, which I was ...
by manwithnoname
Wed Apr 02, 2014 1:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) HCE provision - How does it actually work?
Replies: 16
Views: 866

Re: Is Our Accountant Over-Charging Us?

Our family has been using an accountant to prepare our income taxes and payroll documents for household employees for the last few years. Our income taxes are not complicated. We are W2 employees, and our investment income is from index and mutual funds. We've been subject to the AMT, so we haven't...
by manwithnoname
Wed Apr 02, 2014 12:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is Our Accountant Over-Charging Us?
Replies: 30
Views: 3137

Re: [High-frequency trading hurts regular customers]

Now being probed by the FBI... http://www.marketwatch.com/story/fbi-probes-high-frequency-trading-for-crimes-2014-03-31?link=MW_story_latest_news yawn. Every regulatory agency in Washington has known about flash trading since the last market crash. Why is it suddenly wire fraud? Because some trader...
by manwithnoname
Wed Apr 02, 2014 11:22 am
 
Forum: Investing - Theory, News & General
Topic: [High-frequency trading hurts regular customers]
Replies: 107
Views: 6230

Re: [High-frequency trading hurts regular customers]

NY attorney general Eric Schneiderman defines the HFT issue this way: "There are places you can get to faster than other people, and front-run the market," he continued. "What's improper is front-running the market...using any special advantage or edge with your speed to have an unfai...
by manwithnoname
Wed Apr 02, 2014 10:56 am
 
Forum: Investing - Theory, News & General
Topic: [High-frequency trading hurts regular customers]
Replies: 107
Views: 6230

Re: Ex-Employer Vacation Mistake - Taxes and Repayment

See IRS pub 525 P 33 for instructions on how to recover taxes you paid on money you are returning to your employer. You need to get a formal letter from the company showing that you were overpaid so that will have evidence that your repayment was made because you had no right to the funds you are re...
by manwithnoname
Tue Apr 01, 2014 5:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ex-Employer Vacation Mistake - Taxes and Repayment
Replies: 4
Views: 539

Re: [High-frequency trading hurts regular customers]

Now being probed by the FBI... http://www.marketwatch.com/story/fbi-probes-high-frequency-trading-for-crimes-2014-03-31?link=MW_story_latest_news yawn. Every regulatory agency in Washington has known about flash trading since the last market crash. Why is it suddenly wire fraud? Because some trader...
by manwithnoname
Tue Apr 01, 2014 4:31 pm
 
Forum: Investing - Theory, News & General
Topic: [High-frequency trading hurts regular customers]
Replies: 107
Views: 6230

Re: [New 8th Circuit Ruling Striking Down High 401K Fees]

For what it's worth, the 8th circuit actually reversed the district court's finding with respect to investment options (the plan replaced Wellington with some Fidelity lifecycle funds). The breach of fiduciary duty was actually in overpaying for recordkeeping and allowing Fidelity to make too much ...
by manwithnoname
Tue Apr 01, 2014 10:40 am
 
Forum: Personal Finance (Not Investing)
Topic: [New 8th Circuit Ruling Striking Down High 401K Fees]
Replies: 44
Views: 2483

Re: [High-frequency trading hurts regular customers]

Now being probed by the FBI... http://www.marketwatch.com/story/fbi-probes-high-frequency-trading-for-crimes-2014-03-31?link=MW_story_latest_news yawn. The SEC proposed regulations on flash trading 5 years ago but nothing ever happened. And Chuck Schumer was going to introduce legislation. http://w...
by manwithnoname
Mon Mar 31, 2014 7:53 pm
 
Forum: Investing - Theory, News & General
Topic: [High-frequency trading hurts regular customers]
Replies: 107
Views: 6230

Re: [New 8th Circuit Ruling Striking Down High 401K Fees]

For what it's worth, the 8th circuit actually reversed the district court's finding with respect to investment options (the plan replaced Wellington with some Fidelity lifecycle funds). The breach of fiduciary duty was actually in overpaying for recordkeeping and allowing Fidelity to make too much ...
by manwithnoname
Mon Mar 31, 2014 7:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: [New 8th Circuit Ruling Striking Down High 401K Fees]
Replies: 44
Views: 2483

Re: [New 8th Circuit Ruling Striking Down High 401K Fees]

Plan fiduciaries can take whatever risks they find acceptable. If a fiduciary can select investments without retaining an advisor then that's the fiduciary's decision just as a fiduciary can decide that he doesn't need to consult counsel because he can read the pension or tax laws as well as an att...
by manwithnoname
Mon Mar 31, 2014 6:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: [New 8th Circuit Ruling Striking Down High 401K Fees]
Replies: 44
Views: 2483

Re: Winners of 2013: Boring Investors

Wishing all the wonderful folks on this forum a very happy new year !! http://online.wsj.com/news/articles/SB10001424052702304361604579290852454740162 "So-called dumb-money strategies, which involve buying and holding a plain-vanilla portfolio of U.S. stocks, did much better than the more comp...
by manwithnoname
Mon Mar 31, 2014 6:02 pm
 
Forum: Investing - Theory, News & General
Topic: Winners of 2013: Boring Investors
Replies: 14
Views: 2603
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