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Re: Buying first home in SF - gut check

My wife and I are considering purchasing our first home in San Francisco. A little bit about us: Age: Both 28 Jobs: stable Income: ~$430k with vesting RSUs. If you consider salary only then ~$230k Portfolio: $2.5M (mostly diversified index funds but a small amount of that is vested company stock th...
by menlo
Sat Mar 29, 2014 2:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying first home in SF - gut check
Replies: 93
Views: 10155

Re: $16 Billion for WhatsApp?!?!?!

It seems to me like Facebook is greatly overpaying. But, then, I thought the same thing about the $1 billion Facebook paid for Instagram, which apparently is growing like gangbusters and is estimated to be on pace for between $250-$450 million in revenue this year (Facebook doesn't disclose the numb...
by menlo
Fri Feb 21, 2014 12:00 am
 
Forum: Investing - Theory, News & General
Topic: $16 Billion for WhatsApp?!?!?!
Replies: 51
Views: 4018

Re: Rent and save for next 5 years or stretch now?

grantham, if I were you I would continue to invest in your career -- your greatest asset, by far -- by staying in the Bay Area and developing your skills and networking. I'd also continue to rent until you've saved up more for retirement and for a down payment. Don't think of renting as throwing awa...
by menlo
Mon Jan 20, 2014 8:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rent and save for next 5 years or stretch now?
Replies: 38
Views: 2849

Re: What is your winter thermostat setting (while you are up

This poll has inspired me to raise the thermostat from 64 to 67. Why not splurge a little in life?
by menlo
Wed Jan 01, 2014 2:29 pm
 
Forum: Personal Consumer Issues
Topic: What is your winter thermostat setting (while you are up)?
Replies: 116
Views: 8733

Re: At what age did your portfolio hit $1M?

For those who want to adjust for inflation, here's the equivalent of $1M in 2013 in each of the past few decades:
  • 2013 = $1,000,000
  • 2000 = $740,000
  • 1990 = $560,000
  • 1980 = $350,000
  • 1970 = $165,000
http://data.bls.gov/cgi-bin/cpicalc.pl
by menlo
Wed Jan 01, 2014 2:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: At what age did your portfolio hit $1M?
Replies: 33
Views: 5299

Re: Why You Need an Investment Philosophy.

nvboglehead wrote:I am very grateful to have found this community!Dale


Me too! I'm not given to hyperbole, but this community really is amazing.
by menlo
Mon Aug 12, 2013 12:53 pm
 
Forum: Investing - Theory, News & General
Topic: Why You Need an Investment Philosophy.
Replies: 7
Views: 704

Re: 75% equity is max?

http://www.bogleheads.org/wiki/File:TrinityTable3.jpg It's not the same for an accumulator, I realize, but the Trinity study still shows off the relative similarity of 100 and 75/25 as allocations in terms of SWR, and how being in the 75/25 to 25/75 range in general helps get rid of pesky outliers....
by menlo
Mon Aug 12, 2013 12:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: 75% equity is max?
Replies: 48
Views: 5803

Re: I think I just won the game … have I and what do I do ne

Congratulations, you definitely "won the game" of securing financial independence and a comfortable retirement. If I were in your situation I would not change much in terms of how you currently invest. I would sell the second home (just to not have to deal with being a landlord) and put th...
by menlo
Fri Jul 19, 2013 1:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: I think I just won the game … have I and what do I do next?!
Replies: 55
Views: 8263

Re: How to get over finance envy

I am trying to figure out how to get over envy incurred from reading Boglehead's threads related to savings rates and incomes. I love the collective wisdom of the board, but I could go a lifetime without reading another Boglehead thread as it relates to how much people do or do not make. Don't feel...
by menlo
Mon Jul 15, 2013 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 167
Views: 17348

Re: How to get over finance envy

I don't particularly envy others' lavish spending or fancy baubles, probably because of a somewhat frugal inclination (although I like a nice sports car as much as the next guy). But I do feel a reasonable amount of status/wealth envy because of where I live and the extraordinary success people my a...
by menlo
Fri Jul 12, 2013 11:09 am
 
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 167
Views: 17348

Re: The best investment advice you'll never get

Yes, a great article, thanks. Adding the imprimatur of Google's management to the advice deliverd by Sharpe, Malkiel and Bogle probably helped the employees to accept the message of low cost indexing more than they might otherwise have been inclined to. Very smart.
by menlo
Thu Jul 11, 2013 8:57 pm
 
Forum: Investing - Theory, News & General
Topic: The best investment advice you'll never get
Replies: 11
Views: 2557

Re: Please help with asset allocation plan

I just received an inheritance of about $200k. I am planning on investing it for 7-10 years (I then plan on buying a home in cash and I am flexible about when I actually do that) In the meantime, I will not need any of this money for my day to day expenses and I already have an emergency fund. I am...
by menlo
Thu Jul 11, 2013 8:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please help with asset allocation plan
Replies: 18
Views: 1119

Re: Safety schools for a Physics/Math kid

If you're looking for "safety" schools you probably want to consult the admission rates as a first (or at least second) step. Some of the schools that people mention are probably far from safe even for competitive applicants. Georgia Tech at 39% is much more of a safety than, say, UNC at 2...
by menlo
Tue Jul 02, 2013 6:54 pm
 
Forum: Personal Consumer Issues
Topic: Safety schools for a Physics/Math kid
Replies: 263
Views: 17162

Re: Sub-emerging Markets: All that's left is the crying

I also over-weight EM vs. DM (40/60, I think) and -- honestly -- I made that decision in view of its remarkable growth the several prior years and based on some loose justifications for why it should continue to outperform in the future. However, like others in this thread, I'm planning to stick to ...
by menlo
Mon Jul 01, 2013 12:08 pm
 
Forum: Investing - Theory, News & General
Topic: Sub-emerging Markets: All that's left is the crying
Replies: 62
Views: 6283

Re: Best asset allocation book to read?

I am a newbie to AA myself, and I liked "The Intelligent Asset Allocator", by William Bernstein. One more vote for Bernstein's "The Intelligent Asset Allocator." The only thing to note is that the correlation data in the book is quite dated, and Bernstein's latest pamphlets disc...
by menlo
Mon Jul 01, 2013 11:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Best asset allocation book to read?
Replies: 21
Views: 1897

Re: AAPL - Great Investment or Value Trap

In the same article: "A BCN report released on the same day, though, found that the last four weeks have seen a reversal in Sony's fortunes, according to Bloomberg. Tokyo-based BCN, which relies on sales figures from more than 2,000 retail outlets, found that Sony smartphones represented 36 pe...
by menlo
Tue Jun 25, 2013 6:13 pm
 
Forum: Investing - Theory, News & General
Topic: AAPL - Great Investment or Value Trap
Replies: 26
Views: 2450

Re: Do you do tax loss harvesting?

If you have a valid alternative to VWO by all means don't let the size of the swap stop you. In fact, if the alternative is very valid (i.e. superior) you may want to swap everything, were it not for those capital gains. In general, though, TLH is done from a favoured security to another one which ...
by menlo
Tue Jun 25, 2013 3:17 pm
 
Forum: Investing - Theory, News & General
Topic: Do you do tax loss harvesting?
Replies: 40
Views: 1478

Re: AAPL - Great Investment or Value Trap

We were in Tokyo and Hong Kong earlier this year and Galaxy is very popular there, much more so than iphone. Apple is currently dominating smartphone sales in Japan, so your observations in Tokyo likely are abberational or reflect older sales patterns. I'm not sure about Hong Kong. In the first qua...
by menlo
Tue Jun 25, 2013 3:15 pm
 
Forum: Investing - Theory, News & General
Topic: AAPL - Great Investment or Value Trap
Replies: 26
Views: 2450

Re: Do you do tax loss harvesting?

The optimal way is to use specific identification and sell only those shares that give you a loss. Practical rule is to look at how much capital you have to move compared to the reported loss. $3,000 by selling 10/20k go for it, but if you have to sell half a mil worth of shares... Thanks. So you t...
by menlo
Tue Jun 25, 2013 1:30 pm
 
Forum: Investing - Theory, News & General
Topic: Do you do tax loss harvesting?
Replies: 40
Views: 1478

Re: AAPL - Great Investment or Value Trap

The reason to own Apple is that you're willing to make a bet on its future performance that's different than the bet the broader market is making. The market, like you, already knows that AAPL is priced at a low P/E, has a high book-value-to-share, has tremendous cash flow, enviable GMs, etc. But ne...
by menlo
Tue Jun 25, 2013 1:23 pm
 
Forum: Investing - Theory, News & General
Topic: AAPL - Great Investment or Value Trap
Replies: 26
Views: 2450

Re: Do you do tax loss harvesting?

I just tax loss harvested for the first time last week from VWO to IEMG. Any rules of thumb for how much to TLH when you have losses? For example, if all of my emerging markets index funds have unrealized losses (and it generally makes sense to TLH in the first place, based on current tax rates, etc...
by menlo
Mon Jun 24, 2013 6:04 pm
 
Forum: Investing - Theory, News & General
Topic: Do you do tax loss harvesting?
Replies: 40
Views: 1478

Re: How About: TLH Emerging Index to Emerging Select at VG?

Much like you tell posters to "get with the times" by owning more international, I will give you the same advice and suggest you get with the ETF game and swap it into IEMG. Please note that I am teasing you :P but I'm serious that IEMG is the best choice. grap I just did this myself. Lat...
by menlo
Mon Jun 24, 2013 5:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: How About: TLH Emerging Index to Emerging Select at VG?
Replies: 11
Views: 577

Re: Things are getting interesting...

I took the opportunity to tax loss harvest from VWO to IEMG.
by menlo
Thu Jun 20, 2013 4:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Things are getting interesting...
Replies: 12
Views: 1965

Re: A thought on net worth 'skewedness'

Many (most?) people who get professional degrees (MD, JD, MBA) fall into category A for at least a while in their 20s and 30s. They take out student loans ("lever up" ha!) to acquire a non-tangible asset based on the bet that doing so will have positive financial returns. It would be inter...
by menlo
Wed Jun 19, 2013 1:44 pm
 
Forum: Investing - Theory, News & General
Topic: A thought on net worth 'skewedness'
Replies: 53
Views: 3525

Re: Do commodities/CCFs belong in an investment portfolio?

hardly new, but an interesting article on the topic https://faculty.fuqua.duke.edu/~charvey/Research/Published_Papers/P91_The_strategic_and.pdf Great article, afan, thanks for posting that. I only skimmed it, but it seems well sourced and even handed. The conclusion seems to be that investing in co...
by menlo
Tue Jun 18, 2013 1:20 pm
 
Forum: Investing - Theory, News & General
Topic: Do commodities/CCFs belong in an investment portfolio?
Replies: 49
Views: 2638

Re: Beef brisket

In my experience the keys to smoking brisket are reasonably steady temperature over long periods of time (18+ hrs), and getting cuts with plenty of fat on top to melt into the meat (to avoid having the meat end up like shoe leather). If you have the stamina for it, it's best to smoke over night and ...
by menlo
Sun Jun 16, 2013 5:15 pm
 
Forum: Personal Consumer Issues
Topic: Beef brisket
Replies: 53
Views: 6211

Re: Your worst financial habit

I sometimes market time my investment contributions (let money sit in my savings accounts and invest on market dips); I sometimes have difficulty sticking to my AA (particularly with increasing my bond allocation); and I perseverate about my AA even though the small shifts I'm concerned with probabl...
by menlo
Fri Jun 14, 2013 11:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your worst financial habit
Replies: 84
Views: 10814

Re: What age did you reach 100K networth?

Around age 28 or so.
by menlo
Fri Jun 14, 2013 11:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 264
Views: 34696

Re: Argument for a 100% stock allocation for 20 yr horizon

I believe that 100/0 is ill-advised for anyone. For one thing, the behavioral issue is that if you take too much risk and the market crashes, you will bail out and never come back. For what it's worth: I've only recently read Common Sense on Mutual Funds, and yesterday was reviewing parts of it. Bo...
by menlo
Mon Jun 03, 2013 4:34 pm
 
Forum: Investing - Theory, News & General
Topic: Argument for a 100% stock allocation for 20 yr horizon
Replies: 112
Views: 8400

Re: Argument for a 100% stock allocation for 20 yr horizon

Actually, you have this backwards. "It probably doesn't matter" does not mean it's the right thing to do. The usual perception that you need to be more conservative when you have more money at stake is wrong, in my opinion. As Zvi Bodie and others point out, it's when you have less money ...
by menlo
Mon Jun 03, 2013 10:18 am
 
Forum: Investing - Theory, News & General
Topic: Argument for a 100% stock allocation for 20 yr horizon
Replies: 112
Views: 8400

Re: Argument for a 100% stock allocation for 20 yr horizon

How about factoring in human capital? I think the best argument for holding a higher risk, higher expected return portfolio when young is that your human capital dwarfs your financial capital. Therefore your ability to take risk is much higher, since you have many years to convert human capital int...
by menlo
Sun Jun 02, 2013 5:16 pm
 
Forum: Investing - Theory, News & General
Topic: Argument for a 100% stock allocation for 20 yr horizon
Replies: 112
Views: 8400

Re: What if you bought apple shares instead of a G4 in 2003?

What if you would have created a supercomputer if only you'd had the G4? But instead you were designing it, on a pc, that was like beep beep beep beep, like half of your supercomputer was gone .. and I was like — it devoured your supercomputer. And it was a really good supercomputer. And then you h...
by menlo
Mon May 27, 2013 9:08 pm
 
Forum: Investing - Theory, News & General
Topic: What if you bought apple shares instead of a G4 in 2003?
Replies: 21
Views: 2295

Re: AA question for 30 y/o

Thanks everyone for your advice. All really good points and very helpful. Okay, I think my immediate plan is to buy my full I-Bond allocation for 2013, buy BND with whatever cash is in my tax advantaged accounts, and then increase slightly the amount of money going to bonds in my monthly retirement ...
by menlo
Fri Apr 05, 2013 11:58 am
 
Forum: Investing - Help with Personal Investments
Topic: AA question for 30 y/o
Replies: 15
Views: 2032

College Admissions - Affecting Your Planning?

College admission season is upon us and it looks like once again the odds of gaining admission at the most selective private colleges are getting longer and longer. Admission rates this year were abysmal: Stanford 5.7%, Harvard 5.8%, Yale 6.7%, Princeton 7.3%, etc. And the trend seems to go down the...
by menlo
Sun Mar 31, 2013 1:32 pm
 
Forum: Personal Consumer Issues
Topic: College Admissions - Affecting Your Planning?
Replies: 59
Views: 3216

Re: AA question for 30 y/o

It's now 18 months since I "committed" to my 85/15 AA. Although things have been going very well in terms of portfolio growth, I still haven't been able to force myself to rebalance my holdings to get my bonds up from 7% to the target 15%. Even though I've been buying a reasonable amount o...
by menlo
Sun Mar 31, 2013 12:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: AA question for 30 y/o
Replies: 15
Views: 2032

Re: 39 y.o. and 18 years of Vanguarding

Wow, a really inspiring story! I'm always impressed by stories of people like you who were able to go against the grain of family/acquaintances in making financially sound life decisions. It's so much easier to do the right thing when your family/friends are on the same page and pointing you in the ...
by menlo
Wed Mar 20, 2013 1:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: 39 y.o. and 18 years of Vanguarding
Replies: 45
Views: 8399

Re: Beginner with large initial investment

Questions: 1. Are ETFs a good choice here? It seems that I can get them commission free and they're easier to buy from overseas. 2. In terms of specific ETF's, I was looking at Total Stock Market (VTI) or Dividend Appreciation (VIG) for US, FTSE All-World (VEU) or Total International Stock (VXUS) f...
by menlo
Tue Mar 05, 2013 1:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Non-US-resident beginner with large initial investment
Replies: 15
Views: 1470

Re: Where were you financially in your late twenties?

Probably doing better than most in my age group. I graduated 4 years ago with my MS in EE and have been working since then. Currently studying for my GMAT. Always been raised to save money and only spend money on something that can make me money. My parents came from nothing so a lot of it was due ...
by menlo
Wed Feb 20, 2013 9:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Where were you financially in your late twenties?
Replies: 191
Views: 12254

Re: 16.6% [Savings Rate for Americans]

If Americans actually saved 16.6%, wouldn't that affect GDP growth (positively or negatively) and potentially lower market returns -- which would then undermine Pfau's back-testing? I don't know the answer, although I found one academic paper that suggest that lagged savings rates in "rich"...
by menlo
Sun Feb 17, 2013 2:30 pm
 
Forum: Investing - Theory, News & General
Topic: 16.6% [Savings Rate for Americans]
Replies: 22
Views: 2828

Re: Finally!!! [Net Worth Back to 2007 Level]

To be honest, I always considered myself very lucky. Very, very few people ever get the opportunity I did, so even if the market took it all away I'd have nothing to pity myself about. That said, the stress certainly did throw me for a loop. Being able to recognize and be thankful for one's own goo...
by menlo
Fri Feb 01, 2013 7:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Finally!!! [Net Worth Back to 2007 Level]
Replies: 22
Views: 4084

Re: I-Bonds When Does Interest Post ?

Yes, very helpful. Thank you.
by menlo
Sun Sep 16, 2012 3:57 pm
 
Forum: Investing - Theory, News & General
Topic: I-Bonds When Does Interest Post ?
Replies: 5
Views: 598

Re: Most underrated band of all time [that you listen to]?

The Black Keys. Or at least they were up until they released Brothers in 2010.
by menlo
Thu Sep 13, 2012 1:24 am
 
Forum: Personal Consumer Issues
Topic: Most underrated band of all time [that you listen to]?
Replies: 342
Views: 13721

Re: 21 ways rich people think

Having recently discovered what an incredible writer Ernest Hemingway was this quote from Cannery Row comes to mind ... “It has always seemed strange to me...The things we admire in men, kindness and generosity, openness, honesty, understanding and feeling, are the concomitants of failure in our sy...
by menlo
Thu Sep 06, 2012 2:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: 21 ways rich people think
Replies: 84
Views: 8738

Re: When did you start to save a regular significant amount?

I started saving a lot at age 26 - after I got my first high paying job. From the get-go, I think I managed to save close to 60% of my net (maybe 40% of my gross?) Started saving 50% of my income at age 6. :D Made my first equity purchase of 5 shares of Exxon in 1970 at age 21. This sounds like the ...
by menlo
Thu Aug 23, 2012 11:28 am
 
Forum: Investing - Theory, News & General
Topic: When did you start to save a regular significant amount?
Replies: 81
Views: 10947

Re: Poll: When did you 1st learn about a Roth IRA?

My first investment account was a Roth IRA that I started in 1999. Unfortunately I only bought individual shares in tech companies. But I only learned the ins and outs of backdoor Roth IRAs In 2011 through advice I got on this forum.
by menlo
Mon Aug 20, 2012 3:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Poll: When did you 1st learn about a Roth IRA?
Replies: 54
Views: 6851

Re: At what age did you start investing?

I bought my first stocks when I was 19. But I didn't start "investing" until after I had read The Intelligent Asset Allocator at around age 26 or so.
by menlo
Mon Aug 20, 2012 3:08 am
 
Forum: Investing - Help with Personal Investments
Topic: At what age did you start investing?
Replies: 87
Views: 8956

Re: S&P 500 vs NASDAQ

The funny thing about Apple is that everyone seems to forget its ups and downs. When the movie Forrest Gump came out, let's see, 1994, one of the jokes in the film is that Forrest's friend at some point had him buy some Apple stock. Forrest says something about his friend handing him a letter with ...
by menlo
Sun Aug 19, 2012 5:44 am
 
Forum: Investing - Theory, News & General
Topic: Deleted (unless you want to discuss Apple)
Replies: 12
Views: 4163

Re: facebook's first lock up expires today,

There are certain things I have learned and continue to be reminded in the world of investing. The most important is that the BIGGEST mistake every investor I have ever heard has said they have made in their individual investing lives was to take on too much company risk. It was the same for the En...
by menlo
Sun Aug 19, 2012 5:30 am
 
Forum: Investing - Theory, News & General
Topic: facebook's first lock up expires today,
Replies: 63
Views: 10772

Re: How important is saving??

I have always stated I thought savings is one of two free lunches... So how important is savings?? It looks like increasing one's savings 33% (6 to 9%, 9 to 12%) allows one to DECREASE their asset allocation from 80/20 to 50/50 and still get higher returns. How is it a free lunch if you pay for it ...
by menlo
Sun Aug 19, 2012 5:11 am
 
Forum: Investing - Theory, News & General
Topic: How important is saving??
Replies: 53
Views: 4410

Re: Total bond vs Total Intermediate bond fund

I think the reason Vanguard Intermediate can generally be expected to outperform TBM is that the former has a longer duration and lower quality bonds (on average). You should expect better compensation as a result. That said, I hold TBM because I like the diversification and exposure to the entire y...
by menlo
Fri Aug 17, 2012 11:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Total bond vs Total Intermediate bond fund
Replies: 19
Views: 4746
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