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Re: Faber: S&P 500 an Active Fund in Drag

What Faber should have said is that the S&P 500 index, like all passive indices, is "rule based".
by mpt follower
Sun Jul 20, 2014 12:24 am
 
Forum: Investing - Theory, News & General
Topic: Faber: S&P 500 an Active Fund in Drag
Replies: 45
Views: 3346

Re: Should non-US investors buy US-listed REITS?

Withholding and taxes are NOT the same thing. Review if there is a tax treaties between your country of residence and the US before coming to a conclusion. Further, even if there is not, the taxes inflicted to you in the US can be less that the withholding. I suggest that you check with a CPA in you...
by mpt follower
Fri Jul 18, 2014 8:39 am
 
Forum: Investing - Theory, News & General
Topic: Should non-US investors buy US-listed REITS?
Replies: 30
Views: 1570

Re: [Poll] Are you more risk averse than average?

Endless discussions and write ups have pointed to a portfolio that holds about 20% bonds to be less risky and have higher performance. Markowitz did not get the Nobel Prize for nothing! I suggest that you review your knowledge on Modern Portfolio Theory. The theory is based on diversification benef...
by mpt follower
Tue Jul 15, 2014 9:29 am
 
Forum: Investing - Theory, News & General
Topic: [Poll] Are you more risk averse than average?
Replies: 36
Views: 2590

Re: [Poll] Are you more risk averse than average?

Endless discussions and write ups have pointed to a portfolio that holds about 20% bonds to be less risky and have higher performance. Markowitz did not get the Nobel Prize for nothing! Can you link a post or write up showing that holding 20% bonds can reduce risk and increase performance? I want t...
by mpt follower
Tue Jul 15, 2014 1:42 am
 
Forum: Investing - Theory, News & General
Topic: [Poll] Are you more risk averse than average?
Replies: 36
Views: 2590

Re: [Poll] Are you more risk averse than average?

Endless discussions and write ups have pointed to a portfolio that holds about 20% bonds to be less risky and have higher performance. Markowitz did not get the Nobel Prize for nothing! Can you link a post or write up showing that holding 20% bonds can reduce risk and increase performance? I want t...
by mpt follower
Mon Jul 14, 2014 10:15 am
 
Forum: Investing - Theory, News & General
Topic: [Poll] Are you more risk averse than average?
Replies: 36
Views: 2590

Re: Question Regarding Foreign Assets and Estates

This is a lawyer's question. Some countries have tax treats with the US and it can get very complicated. The best is to go to a lawyer that deals with international taxes in the country where your patents have the assets and make sure that he/she is also fully verse with the US tax laws.
by mpt follower
Mon Jul 14, 2014 2:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Question Regarding Foreign Assets and Estates
Replies: 1
Views: 359

Re: [Poll] Are you more risk averse than average?

The poll question in title is not accurate because of the title restriction. The actual poll is "Do you consider yourself more risk averse than average investors?" Of course, this is a very subjective poll because the poll is asking your perception. It's not asking what your ARA or RRA is...
by mpt follower
Mon Jul 14, 2014 12:18 am
 
Forum: Investing - Theory, News & General
Topic: [Poll] Are you more risk averse than average?
Replies: 36
Views: 2590

Re: Is an expense ratio of 1.07 MUCH better than 1.22?

First pick the allocation, they worry about the tools you use to accomplish it. At your age, if you can withstand the risk, 70% stocks is about right, and 50% seems too low. It can have a HUGE impact on your portfolio long term growth. Now, neither 1.22 nor 1.07 ER is good, does your employer not of...
by mpt follower
Fri Jul 04, 2014 11:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is an expense ratio of 1.07 MUCH better than 1.22?
Replies: 7
Views: 885

Re: Bond Portfolio via ETFs

Gecko10x wrote:I don't like high yield. I also can't recall Swedroe, Ferri, or Bernstein recommending it either.


Ferri does. His recommendation is 40% each total bond and Tips and 20% junk
by mpt follower
Wed Jun 25, 2014 8:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Bond Portfolio via ETFs
Replies: 4
Views: 408

Re: Bond Portfolio via ETFs

I invest in the same fund for years, thus it seems that in the long run it would make any difference. Good point anyway, thank you.
by mpt follower
Wed Jun 25, 2014 5:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Bond Portfolio via ETFs
Replies: 4
Views: 408

Bond Portfolio via ETFs

Bond Portfolio for a Retiree As an alternative to my active portfolio, 40% in Pimco Income (PIMIX) and 40% in Metropolitan West Total Return (discussed in a previous post), plus 15% in cash, I conducted some research in an attempt to arrive at at a "bogleheads" bond portfolio. I reviewed ...
by mpt follower
Wed Jun 25, 2014 2:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Bond Portfolio via ETFs
Replies: 4
Views: 408

Vanguard TIPs or Vanguard short term TIPs

What TIPs fund in the bond portfolio? Given today's environment, is it the standard regular, about 8 year duration or the short term, 3.5 year duration?
by mpt follower
Tue Jun 24, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard TIPs or Vanguard short term TIPs
Replies: 5
Views: 381

Re: A day in Dachau?

And yet racism is still very prevailing specially in Europe.
by mpt follower
Mon Jun 23, 2014 1:18 am
 
Forum: Personal Consumer Issues
Topic: A day in Dachau?
Replies: 38
Views: 2691

Re: Torn between active and passive bond funds

Good discussion here. I think why investors use bond index funds such as Vanguard Total Bond Market Fund (VBMFX) is because they use it as a proxy for safe assets. Of course, we know that VBMFX is not really risk-free but it's a proxy with low ER of 0.20% (not significantly higher than VTSMX). If y...
by mpt follower
Sat Jun 21, 2014 12:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Torn between active and passive bond funds
Replies: 16
Views: 1315

Re: Torn between active and passive bond funds

If you want a treasury, TIPS or GSE MBS fund then stay indexed and low cost. In terms of rising rates there is no reason to think that bond managers are better than equity manager at timing the market. The expectation of higher rates is built into the steep yield curve. If you think 10y yields are ...
by mpt follower
Sat Jun 21, 2014 8:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Torn between active and passive bond funds
Replies: 16
Views: 1315

Torn between active and passive bond funds

Dear all, For already 30 years, my equity has been allocated to index funds. I have no doubt, have seen the data, and I am very comfortable. However, I am struggling when it comes to bonds. I have owned Pimco Income (PIMIX) and Metropolitan West Total Return (MWTRX) for many years, since I began sen...
by mpt follower
Sat Jun 21, 2014 2:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Torn between active and passive bond funds
Replies: 16
Views: 1315

Re: Any other retirees moving money out of Vanguard?

Although all my equity portfolio (25%) is in passive ETFs, I have opted to go active on bonds. I feel that we are going through transition times which may command some active intervention, and with the other 75% I have built a fixed income portfolio of about 15% in ultra short bonds (which along wi...
by mpt follower
Fri Jun 20, 2014 1:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Any other retirees moving money out of Vanguard?
Replies: 54
Views: 6081

Re: Any other retirees moving money out of Vanguard?

Although all my equity portfolio (25%) is in passive ETFs, I have opted to go active on bonds. I feel that we are going through transition times which may command some active intervention, and with the other 75% I have built a fixed income portfolio of about 15% in ultra short bonds (which along wit...
by mpt follower
Fri Jun 20, 2014 10:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Any other retirees moving money out of Vanguard?
Replies: 54
Views: 6081

Re: Cambria Global Value - Value Tilt

Cjking,
I agree with you. Further, it seems to me that that is exactly what GVAL is hopping by investing in the lowest PE10 countries?
by mpt follower
Fri Jun 13, 2014 5:46 am
 
Forum: Investing - Theory, News & General
Topic: Cambria Global Value - Value Tilt
Replies: 36
Views: 3321

Re: No BOSVX or DFSVX -- what other SCV choices?

I assume this discussion is to find a way to develop the Larry Portfolio w/o using Dimensional funds. In his latest book, in the conclusions section, Larry recommends the equity portfolio to be 50% US SV, 37.5% International Developed World SV, and 12.5% Emerging Markets V. My preferences for these...
by mpt follower
Tue Jun 03, 2014 1:52 pm
 
Forum: Investing - Theory, News & General
Topic: No BOSVX or DFSVX -- what other SCV choices?
Replies: 54
Views: 2858

Re: No BOSVX or DFSVX -- what other SCV choices?

I assume this discussion is to find a way to develop the Larry Portfolio w/o using Dimensional funds. In his latest book, in the conclusions section, Larry recommends the equity portfolio to be 50% US SV, 37.5% International Developed World SV, and 12.5% Emerging Markets V. My preferences for these ...
by mpt follower
Tue Jun 03, 2014 11:48 am
 
Forum: Investing - Theory, News & General
Topic: No BOSVX or DFSVX -- what other SCV choices?
Replies: 54
Views: 2858

Re: Total Bond Index Fund and Retirement

PJW: right on!!! People tend to forget that inflation is what typically kills retirement plans.
by mpt follower
Mon Jun 02, 2014 2:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Total Bond Index Fund and Retirement
Replies: 16
Views: 1989

Re: Will the new currency law impact Vanguard Int'l Value Fu

I live overseas and just filed the FATCA form. It has absolutely nothing to do with holding foreign investments, it is ONLY applicable for individuals holding assets in foreign institutions.
By the way, filing it is a pain since one can ONLY do it via the Internet and must be signed electronically.
by mpt follower
Mon Jun 02, 2014 2:17 am
 
Forum: Investing - Theory, News & General
Topic: Will the new currency law impact Vanguard Int'l Value Fund?
Replies: 6
Views: 1059

I am confused with Swedroe's definition of Correlation

Reading Swedroe's latest book, Reducing the Risk of Black Swans, the author defines positive correlation between two assets as "when one asset produces above average returns (relative to its average) and the other tends to also produce above average returns (relative to its average.)" Obvi...
by mpt follower
Thu May 29, 2014 12:19 am
 
Forum: Investing - Theory, News & General
Topic: I am confused with Swedroe's definition of Correlation
Replies: 3
Views: 457

Re: Cambria Global Value - Value Tilt

azonon, In theory the fund makes much sense. I have used PE10 to tilt my equity portfolio (US vs EAFE vs EM) according to this parameter. However, I am yet not sure if it adds much value relative to just buying an all country ETF and be done with. All-in-all, I'm not investing all that much differe...
by mpt follower
Fri May 23, 2014 11:04 pm
 
Forum: Investing - Theory, News & General
Topic: Cambria Global Value - Value Tilt
Replies: 36
Views: 3321

Re: Cambria Global Value - Value Tilt

azonon,
In theory the fund makes much sense. I have used PE10 to tilt my equity portfolio (US vs EAFE vs EM) according to this parameter. However, I am yet not sure if it adds much value relative to just buying an all country ETF and be done with.
by mpt follower
Fri May 23, 2014 11:58 am
 
Forum: Investing - Theory, News & General
Topic: Cambria Global Value - Value Tilt
Replies: 36
Views: 3321

Re: Retirement Fund Options for Person Not from Western Coun

Anyone that can transfer dollars to a US institution can open an account with an american discounter, like Schwab (see http://international.schwab.com/public/ ... _investing). Then invest in ETFs (You will not b able to buy mutual funds) to build a passive, well diversified portfolio.
by mpt follower
Wed May 21, 2014 1:51 am
 
Forum: Investing - Theory, News & General
Topic: Retirement Fund Options for Person Not from Western Country
Replies: 1
Views: 177

Re: Best way to sell daughter our rental property

Hi folks - I need you thoughts. For 5 years now my daughter and 2 children have rented a condo we bought thinking she and her husband would buy it from us. Well the husband left (thank God) and we are now final ready to make the move to make her the owner, and move soon if possible to get best loan...
by mpt follower
Fri May 16, 2014 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best way to sell daughter our rental property
Replies: 20
Views: 1905

Re: Stock Market to Plunge? What a friend said.

I do not understand why people make fun of the question. Look at the thread title: "What a friend said." If said friend had not said what they said, would the OP have even bothered to start this thread? I'm all for reasoned discussion, so start a new thread with some well articulated and ...
by mpt follower
Wed May 14, 2014 12:39 pm
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6110

Re: Stock Market to Plunge? What a friend said.

What about if you are retired like me? I am retired :happy I think it comes down to asset allocation,which for me means having enough in cash,bonds,dividends,cap gains,etc so that I would not need to sell equity funds during a downturn. :happy You may have missed the point. There are ample studies ...
by mpt follower
Wed May 14, 2014 11:46 am
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6110

Re: Stock Market to Plunge? What a friend said.

What about if you are retired like me?
by mpt follower
Wed May 14, 2014 10:54 am
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6110

Re: Stock Market to Plunge? What a friend said.

I do not understand why people make fun of the question. After all there are very good reasons to fear a correction. In addition to the actions of the Fed, which at times may not be very helpful, the market is not helping much pushing PE10 dangerously high. One of the jobs of the members of this for...
by mpt follower
Wed May 14, 2014 10:39 am
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6110

Re: Stock Market to Plunge? What a friend said.

Maybe a bit speculative but my co-worker said that stocks, it seems are about to take a dive. When I asked what would trigger it (unlike 2000 being a dot com bubble and 2008 real estate ... what is the factor now), his answer was that the government is cutting down on printing money and thus this c...
by mpt follower
Wed May 14, 2014 2:09 am
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6110

Re: Can I be a boglehead and join a golf club?

Hello Bogleheads: I can't say this is a particularly important financial decision, but I wanted to bounce the situation off the community. Dear spouse and I have agreed  to look into a country club membership. The main reasons are to enjoy golf (me), pool (wife and daughter) and a nice place to eat...
by mpt follower
Sun May 11, 2014 4:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I be a boglehead and join a golf club?
Replies: 70
Views: 4552

Re: Forbes Honor Roll 2014

baw703916 wrote:The Vanguard SV Index fund looks good.
Perhaps the Bridgeway Ultra-small company fund also.

Both of these are driven by asset class exposure, not manager performance.


How do you explain Bridgeway's fund. Forbes Honor Roll, yet M* low mark?
by mpt follower
Fri May 09, 2014 12:43 am
 
Forum: Investing - Theory, News & General
Topic: Forbes Honor Roll 2014
Replies: 8
Views: 1273

Global small cap fund

Is there any one global small cap fund that this group recommends?
by mpt follower
Wed May 07, 2014 2:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Global small cap fund
Replies: 5
Views: 568

Re: I want out of Fidelity Managed Account - ideas

Some advice: If you are panicking because of one day plus/minus, you absolutely need to have someone else manage your money. Based on your behavior, it seems to me that you are NOT ready to manage your money by yourself. Someone earlier told you to "think long term". Do that! No matter wh...
by mpt follower
Sun May 04, 2014 2:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: I want out of Fidelity Managed Account - ideas
Replies: 33
Views: 2502

Re: I want out of Fidelity Managed Account - ideas

Some advice: If you are panicking because of one day plus/minus, you absolutely need to have someone else manage your money. Based on your behavior, it seems to me that you are NOT ready to manage your money by yourself. Someone earlier told you to "think long term". Do that! No matter wha...
by mpt follower
Sun May 04, 2014 1:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: I want out of Fidelity Managed Account - ideas
Replies: 33
Views: 2502

Re: Blog:MSCI makes changes to Frontier and EM Indexes

I do not know anymore if the classification of a country makes much difference. Case in point, Greece is supposed to be in the developed bucket, while Chile, which I consider much safer to invest, is an emerging market country.
by mpt follower
Fri Apr 25, 2014 7:39 am
 
Forum: Investing - Theory, News & General
Topic: Blog:MSCI makes changes to Frontier and EM Indexes
Replies: 1
Views: 307

Re: Round The World!

I would love to do it. I have the money. I have the time (retired). But guess what.. I do not have a willing DW. Small detail, right?
by mpt follower
Tue Apr 22, 2014 1:11 pm
 
Forum: Personal Consumer Issues
Topic: Round The World!
Replies: 43
Views: 9024

Re: Does Asset Allocation beat the S&P 500?

Because 10 years is a very short amount of time. How do you think those numbers would look if the ten year period was 3/5/1999 to 3/5/2009? 10 years is a very long time in the life of a person. In my view the answer is simple. We just do not know what the future will bring and that is the main reas...
by mpt follower
Tue Apr 22, 2014 11:07 am
 
Forum: Investing - Theory, News & General
Topic: Does Asset Allocation beat the S&P 500?
Replies: 75
Views: 6279

Re: opened up wellesley for kids

Too conservative for me unless kid close to college age. I would use a target date fund and set the fund date = college date.
by mpt follower
Mon Apr 21, 2014 2:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: opened up wellesley for kids
Replies: 9
Views: 1410

Re: Bernstein retirement plan

Is the 25x a net, after tax number? Anyone cares to answer. I think that this is significant, specially if most of the funds are in an IRA.
by mpt follower
Sat Apr 19, 2014 8:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Bernstein retirement plan
Replies: 41
Views: 6895

Re: Bernstein retirement plan

Fellow Bogleheads, I'm retiring this year and have set up my assets in a similar manner....25 X annual expenses in CD's, treasuries, AAA insured municipal bonds, $100K emergency fund in MM accounts, and the remainder in Vanguard Total Stock Market Fund... Provides for a comfortable retirement AND a...
by mpt follower
Sat Apr 19, 2014 3:23 am
 
Forum: Investing - Help with Personal Investments
Topic: Bernstein retirement plan
Replies: 41
Views: 6895

Re: Using Valuations for Asset Allocation

I am a strong believer in the use of PE10 to judge valuation and to tilt the global allocation using PE10 as the guide. However, I have to confess that beyond academic research that seems very convincing to me, I have no personal records to prove my believe. For that reason I have split my equity al...
by mpt follower
Fri Apr 18, 2014 10:53 am
 
Forum: Investing - Theory, News & General
Topic: Using Valuations for Asset Allocation
Replies: 12
Views: 770

Re: Why You Shouldn't Fear Japan

That's very interesting and new, or certainly new to me. What was your data source, was it no-cost or do you have access to some subscription service? I looked around and only found one affordable institution that delivers this data, The Idea Farm (http://www.theideafarm.com/subscriber-archives/). ...
by mpt follower
Wed Apr 16, 2014 12:09 am
 
Forum: Investing - Theory, News & General
Topic: Japan Does not Show That Stocks are Dangerous
Replies: 79
Views: 5163

Re: A portfolio with a 7% yield? Your thoughts?

If you read carefully, the portfolio was constructed using a tool (actually a software using Montecarlo simulation) to estimate future returns. In the Internet, you can find an endless number of articles using any number on tools that will promise any return you want. My recommendation is for you to...
by mpt follower
Tue Apr 15, 2014 2:11 pm
 
Forum: Investing - Theory, News & General
Topic: A portfolio with a 7% yield? Your thoughts?
Replies: 9
Views: 1140

Re: Random individual stocks as supplement to indexing

Situation: I have approximately $500,000 invested primarily in Vanguard S&P 500 index fund admiral shares and a bit in other similar investments (100% stock, low-cost Vanguard index funds), but now live in a foreign country with tax advantaged account options that allow for individual stocks, w...
by mpt follower
Tue Apr 15, 2014 8:33 am
 
Forum: Investing - Theory, News & General
Topic: Random individual stocks as supplement to indexing
Replies: 13
Views: 1121

Re: Cambria Global Value - Value Tilt

GTAA is not that complex. Faber has a paper on the strategy. It uses the standard 200 moving average to be in or out of an asset class. Simple tech analysis, which we all know is highly time depended.
by mpt follower
Sat Apr 12, 2014 4:13 pm
 
Forum: Investing - Theory, News & General
Topic: Cambria Global Value - Value Tilt
Replies: 36
Views: 3321

Re: Cambria Global Value - Value Tilt

One comment: when I heard that Faber came out with this new ETF (GVAL), I immediately thought about the fiasco with GTAA. However, one has to recognize that while GTAA uses technical analysis (which some, including myself, considered non sense) to manage the fund, GVAL is based on solid fundamental...
by mpt follower
Fri Apr 11, 2014 4:29 pm
 
Forum: Investing - Theory, News & General
Topic: Cambria Global Value - Value Tilt
Replies: 36
Views: 3321
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