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Re: Windows XP

I upgraded from Windows XP in March. It was an old and increasingly vulnerable operating system, without the security patches from Microsoft people still using it are just asking for trouble. At work, I had the infamous FBI Moneypack virus come right in through the browser. It took advantage in a fl...
by nedsaid
Sun Oct 19, 2014 9:39 pm
 
Forum: Personal Consumer Issues
Topic: Windows XP
Replies: 23
Views: 786

Re: 2nd Opinions on Bond Alternatives?

As Nancy Reagan might say, "Just say no to bond alternatives." During the recent turmoil, bonds did what they were supposed to. As stocks went down, bonds went up while still throwing off interest income. They provided ballast to a portfolio, reducing volatility and dampening losses. The B...
by nedsaid
Sun Oct 19, 2014 9:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2nd Opinions on Bond Alternatives?
Replies: 10
Views: 536

Re: Dry Powder

I actually like the idea of dry powder to have money available in order to buy on the dips in the stock market. The problem is that dry powder or cash pays almost nothing. A few years ago, the money market fund at my favorite mutual fund company paid 1 cent in interest for a month. In disgust, I liq...
by nedsaid
Sun Oct 19, 2014 4:28 pm
 
Forum: Investing - Theory, News & General
Topic: Dry Powder
Replies: 49
Views: 3392

Re: WSJ's Jon Clements: "How to Make Your Savings Outlive Yo

This is a very interesting discussion. I don't know what retirement withdrawal strategy that I will take because retirement is 8-10 years off and there are too many unknowns. As of now the plan goes something like this. If work is rewarding, keep working until my Social Security retirement age at ag...
by nedsaid
Sun Oct 19, 2014 3:49 pm
 
Forum: Investing - Theory, News & General
Topic: WSJ's Jon Clements: "How to Make Your Savings Outlive You"
Replies: 14
Views: 2378

Re: Health care tilt

Health care is a very attractive area to invest in imo. One can argue it is just another sector in the economy, but I would argue that health care is different. A few reasons: The health care industry is very stable, tremendously important, and tends to not to be as correlated to the general econom...
by nedsaid
Sun Oct 19, 2014 10:39 am
 
Forum: Investing - Theory, News & General
Topic: Health care tilt
Replies: 43
Views: 1669

Re: The Final, Definitive Thread on Rebalancing

If that doesn't work, then just do it for Jack. Huh? Why should Jack [Bogle, I assume?] care whether you rebalance *your* accounts. He says he doesn't rebalance his own, but even if he did, what difference does it make to him whether you do? Are you naming him in your will? I am joking. Mr. Bogle h...
by nedsaid
Sun Oct 19, 2014 10:33 am
 
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Rebalancing
Replies: 24
Views: 1691

Re: First investment strategy meeting with new FA, $6M trust

This... I like. I still have questions regarding tax efficiency - especially on the bond side, but it seems like no matter WHAT I come up with, it would be more efficient than the portfolio FA suggested. There are many NY Tax exempt bond funds, but I'll be honest. The equities side of all of these ...
by nedsaid
Sun Oct 19, 2014 10:25 am
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4386

Re: First investment strategy meeting with new FA, $6M trust

@ retiredjg I chose the mega-cap in an effort to demonstrate the idea (Merriman I think) that the VERY large, and the very small are where most of the value lies in the market, with the middle tending toward the average. So thats how I constructed that portfolio. I certainly tested well :happy Not ...
by nedsaid
Sun Oct 19, 2014 10:07 am
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4386

Re: First investment strategy meeting with new FA, $6M trust

Greetings all. A few weeks ago I introduced myself as the trustee (and a beneficiary) of three trusts with a value of $6m +-. As I mentioned in that thread, upon my grandmother's passing I became sole trustee of this estate, and realized shortly thereafter that things were a mess. Ive spent the las...
by nedsaid
Sun Oct 19, 2014 9:48 am
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4386

Re: Thoughts on Paul Merriman's Portfolio

I am a big fan of Paul Merriman and I have used a lot of his suggestions in constructing my portfolio. The case for small/value tilting was pretty compelling to me. The way I look at it is that small/value tilting won't hurt anything. I am unaware of any research that says that large beats small or ...
by nedsaid
Sun Oct 19, 2014 9:10 am
 
Forum: Investing - Theory, News & General
Topic: Thoughts on Paul Merriman's Portfolio
Replies: 38
Views: 2138

Re: Stocks as long term investments

I know you guys aren't big fans of investing in individual stocks but i feel some diversification in a few stocks can be good for the long term. My uncle put $8K in J and J in the 80s and was able to pay for my cousins college tuition with his earnings. That said I purchased some shares in Apple an...
by nedsaid
Sun Oct 19, 2014 9:01 am
 
Forum: Investing - Theory, News & General
Topic: Stocks as long term investments
Replies: 32
Views: 1728

Re: The Final, Definitive Thread on Rebalancing

I have been a bit frustrated by this topic. I remember posting in a thread that I rebalanced very infrequently and then defended my position until being beat up with foam rubber hammers by other members of this forum. A rising stock market and a slightly falling bond market in 2013 and being bludgeo...
by nedsaid
Sat Oct 18, 2014 11:43 pm
 
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Rebalancing
Replies: 24
Views: 1691

Re: Thoughts on Paul Merriman's Portfolio

I like the Merriman portfolio, I have been implementing many of its elements since 2007. Mainly, I am small/value tilting. You might choose something other than Vanguard for your Value funds, particularly for small value. I own the Vanguard Small Value Index ETF but it has been criticized for being ...
by nedsaid
Sat Oct 18, 2014 2:22 pm
 
Forum: Investing - Theory, News & General
Topic: Thoughts on Paul Merriman's Portfolio
Replies: 38
Views: 2138

Re: Tell me about Berlin :-)

I was in Berlin for a couple of days in May of 2013. I bought a two-day hop-on, hop-off pass and used this as my transportation. It was an enjoyable way to see the city. I spent a lot of time at Checkpoint Charlie and the Checkpoint Charlie Museum. The Checkpoint Charlie Museum was a big highlight o...
by nedsaid
Sat Oct 18, 2014 2:06 pm
 
Forum: Personal Consumer Issues
Topic: Tell me about Berlin :-)
Replies: 36
Views: 2273

Re: "The best response to market volatility"

A while back I looked at the tax-loss harvesting moves I've made and the replacement funds I chose always ended up underperforming what I sold to get the tax loss. Personal experience that demonstrates to me at least the best advice is more often than not to do nothing. This is one reason that I ha...
by nedsaid
Fri Oct 17, 2014 8:27 pm
 
Forum: Investing - Theory, News & General
Topic: "The best response to market volatility"
Replies: 27
Views: 3183

Re: Thoughts on getting out

Could you transition to temporary or contract work for maybe 2,3, or 4 years? It would be a compromise between continuing in a job you hate versus retiring cold turkey. Do you have a career where temporary or contract work is possible? If you could do that, it would take strain off your retirement a...
by nedsaid
Sun Oct 12, 2014 4:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Thoughts on getting out [of job]
Replies: 35
Views: 4474

Re: A close look at factors in real world,

Larry Swedroe said, "The value premium is concentrated primarily in small stocks and becomes insignificant in the largest 40 percent of NYSE stocks. This was true in all four 20-year subperiods." This is really interesting. I have often said that I don't consider value investing to be ciga...
by nedsaid
Sun Oct 12, 2014 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: A close look at factors in real world,
Replies: 18
Views: 2338

Re: Mid and small cap exposure?

I don't mind people asking even what seem to be basic questions on this forum. The only stupid question is the question you don't ask. It does help to read the Wiki and learn the basics so that your questions can be focused. It is also important for everyone involved to be patient in answering quest...
by nedsaid
Sun Oct 12, 2014 3:45 pm
 
Forum: Investing - Theory, News & General
Topic: Mid and small cap exposure?
Replies: 23
Views: 2244

Re: Losing money, please advise

Don't do anything, you have solid investments. The problem is that you made these investments near the top of the US Stock Market. The market is down about 5% and what we are seeing is normal market behavior. I am guessing you are about 50 years old, you have another 15 years or so before retiring s...
by nedsaid
Sun Oct 12, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Losing money, please advise
Replies: 36
Views: 5000

Re: Wow at high ER w/Fidelity Freedom funds compared to Vang

I own the Fidelity Freedom 2025 Fund Class K to hold employer contributions that used to go into our now frozen pension plan. I hold it for simplicity's sake. It has a lot of holdings, it's fees are higher than similar offerings from Vanguard, and other flaws noted by other posters. The performance ...
by nedsaid
Sun Oct 12, 2014 10:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Wow at high ER w/Fidelity Freedom funds compared to Vanguard
Replies: 8
Views: 1078

Re: Why choose a LifeStrategy Fund?

Another use of a Life Strategy fund or Target Risk fund is that you can use it as a model portfolio. You also get a look into the thinking of the investment firm. Looking at the Vanguard portfolios, you can see that they believe that International Stocks should be 30% of a stock portfolio and that I...
by nedsaid
Sun Oct 12, 2014 10:28 am
 
Forum: Investing - Theory, News & General
Topic: Why choose a LifeStrategy Fund?
Replies: 41
Views: 3427

Re: Masters in business interview I did with Barry Ritholtz

Larry, this was a very good interview. It was a good review of everything you write about. Repetition is an excellent way to reinforce what one has already learned.

It was a wide ranging discussion and you did a nice job of summarizing the topics you so often write about. An hour very well spent.
by nedsaid
Sun Oct 12, 2014 10:14 am
 
Forum: Investing - Theory, News & General
Topic: Masters in business interview I did with Barry Ritholtz
Replies: 13
Views: 1193

Re: Why choose a LifeStrategy Fund?

Can somebody please explain to me why anyone would purchase a LifeStrategy Fund. The reason I don't understand why someone one is because it keeps a constant asset allocation. I mean the vast majority of investors are going to want to become more conservative as they get older. Why not? That is the...
by nedsaid
Sat Oct 11, 2014 4:32 pm
 
Forum: Investing - Theory, News & General
Topic: Why choose a LifeStrategy Fund?
Replies: 41
Views: 3427

Re: Current market volatility

You guys think we are in for more declines in the coming weeks? I actually just sold a bunch of my funds after the 2% increase on Wed and havent bought back in yet. I was about to do some rebalancing but im thinking i should maybe hold it in cash until things calm down a bit. My bonds have been doi...
by nedsaid
Sat Oct 11, 2014 4:24 pm
 
Forum: Investing - Theory, News & General
Topic: Current market volatility
Replies: 21
Views: 1621

Re: Investing Advice

This goes to show that most variable annuities are sold and not bought. Most of these are high fee traps for the small investor and even worse have high withdrawal penalties if taken out early.
by nedsaid
Sat Oct 11, 2014 12:14 pm
 
Forum: Investing - Theory, News & General
Topic: Investing Advice [NYT article on "buying" investment advice]
Replies: 9
Views: 945

Re: Why not 100% Stocks?

If you want to time the market, try the "Nedsaid Boglehead 100% stock threads indicator." When you see the 100% stock threads pop up, it is an indication that it is time to rebalance the portfolio. Ditto for the "OMG Bogleheads Bond Crash ahead threads indicator" predicted a pret...
by nedsaid
Sat Oct 11, 2014 10:17 am
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 259
Views: 18566

Re: is anything 'cheap' out there?

I have made minor changes in my portfolio. First was a mild rebalancing program from stocks to bonds from July 2013 to June 2014. Then more recently, I did mild rebalancing at my favorite mutual fund company from growth to value. When you look at the Morningstar Stylebox for my portfolio, it is esse...
by nedsaid
Sat Oct 11, 2014 10:08 am
 
Forum: Investing - Theory, News & General
Topic: is anything 'cheap' out there?
Replies: 54
Views: 5460

Re: I'm Chuck and I work at Vanguard and Invest in Active Fu

Chuck should be applauded for disclosing how he actually invests. When someone gives advice, I like to know what the advisor is doing with his/her own money. A person giving advice should eat his own cooking. He indexes 2/3 of his money and his expenses are 0.14, so what is not to like? Some here wo...
by nedsaid
Thu Oct 09, 2014 9:14 am
 
Forum: Investing - Theory, News & General
Topic: I'm Chuck and I work at Vanguard and Invest in Active Funds
Replies: 44
Views: 7250

Re: Mid and small cap exposure?

The stock portion of my portfolio has about 39% mid-caps and small-caps, so I am over weighted here versus the US Total Market Index. I am a big believer in mid and small cap exposure. Keep in mind there is a certain amount of cyclicality to this, this area of the market has done really well in rece...
by nedsaid
Thu Oct 09, 2014 9:02 am
 
Forum: Investing - Theory, News & General
Topic: Mid and small cap exposure?
Replies: 23
Views: 2244

Re: Shiller: Anxiety Driving up the Stock Market

FWIW This makes no sense whatsover, jibberish If people are anxious and want to save more they SAVE more, NOT INVEST MORE, and Shiller is mixing the two up here, if they are anxious they put money into CDs and Treasuries and other safe bonds, not stocks It's the Fed's ZRP that has pushed up real as...
by nedsaid
Mon Oct 06, 2014 10:59 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller: Anxiety Driving up the Stock Market
Replies: 42
Views: 4583

Re: "Stock Exposure: Grow or Shrink Throughout Retirement?"

I think the tried and true declining glidepath is probably the best for retirees. Oh man, my portfolio is 68% stocks at age 55 and I feel like I am hanging way out there. For me to increase my allocation to stocks when I am in my seventies and eighties seems unthinkable.
by nedsaid
Mon Oct 06, 2014 10:48 pm
 
Forum: Investing - Theory, News & General
Topic: "Stock Exposure: Grow or Shrink Throughout Retirement?"
Replies: 35
Views: 2705

Re: Sector Funds

In an earlier investment life, I was a lot more enthusiastic about sector investing. I did this through individual stocks. My favorite sectors were finance, telecomm, timber and wood products, health care, and energy. I am less enthusiastic about this approach for several reasons. First, the "s...
by nedsaid
Sun Oct 05, 2014 3:22 pm
 
Forum: Investing - Theory, News & General
Topic: Sector Funds
Replies: 9
Views: 550

Re: Schwab to unveil their own robo-broker service

The problem with all of this robo-broker services and automated advice is that one little missing piece of information could dramatically change the advice given. There are any number of personal factors that could affect a personal financial plan. I remember my experience with Financial Engines. It...
by nedsaid
Sun Oct 05, 2014 2:42 pm
 
Forum: Investing - Theory, News & General
Topic: Schwab to unveil their own robo-broker service
Replies: 25
Views: 2779

Re: Shiller: Anxiety Driving up the Stock Market

What Shiller is saying goes back to an old Wall Street saying, "The market climbs a wall of worry." You want to see bearishness and pessimism in the markets. That way you have a large pool of people who are underinvested in stocks or perhaps out of the market altogether. That is, you have ...
by nedsaid
Sun Oct 05, 2014 2:25 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller: Anxiety Driving up the Stock Market
Replies: 42
Views: 4583

Re: Bonds Beware

^Classic post. Thanks. How can you do that so early on a beautiful Sunday morning? Did you have this graphic already made and just were waiting for the right opportunity to post it? :) :oops: :oops: :oops: Shame on me for not crediting n00bvestor. It's not mine. That beautiful graphic was made by n...
by nedsaid
Sun Oct 05, 2014 2:12 pm
 
Forum: Investing - Theory, News & General
Topic: Bonds Beware
Replies: 34
Views: 4412

Re: Should small-value investors be buying small value now?

Garland, this is why I have been cooling it on the small and value tilting. I have not changed my portfolio but I have seen that we are in a period of large cap and large growth outperformance. With growth, I think this has been going on for a couple of years. With small caps, we have been seeing un...
by nedsaid
Sun Oct 05, 2014 2:07 pm
 
Forum: Investing - Theory, News & General
Topic: Should small-value investors be buying small value now?
Replies: 14
Views: 1844

Re: Bonds Beware

I just checked, my asset allocation in my retirement accounts is 68% stocks and 32% bonds and cash. With the recent stock market volatility, bonds did what they were supposed to. They went up as stocks went down. I had been at 69% stocks and 31% bonds and cash. The bond market does concern me, but I...
by nedsaid
Sun Oct 05, 2014 11:26 am
 
Forum: Investing - Theory, News & General
Topic: Bonds Beware
Replies: 34
Views: 4412

Re: 2014 Harvard U. Annual Endowment Report

Regarding commodities I am not sure what folks were looking for? If I was to buy these, it would be for the purpose of portfolio insurance. The real question is if the insurance is worth the price of the premiums. I have used other methods to hedge inflation in my portfolio. We have had 5+ years of...
by nedsaid
Sun Oct 05, 2014 11:04 am
 
Forum: Investing - Theory, News & General
Topic: 2014 Harvard U. Annual Endowment Report
Replies: 14
Views: 2164

Re: Buffett Has 100% Equities in his Pensions Funds

I'm not being sarcastic as I ask this question, but just curious, what would it take to really see that bonds are a losing proposition and abandon them and swallow hard and take short term risk in stocks for a better outcome in the future. In a way, by ignoring Buffett we are saying we are smarter....
by nedsaid
Sun Oct 05, 2014 10:51 am
 
Forum: Investing - Theory, News & General
Topic: Buffett Has 100% Equities in his Pensions Funds
Replies: 39
Views: 2702

Re: New investor in need of portfolio advice

Thank you JDDS for your response! I updated the stock/bond ratios for the different investments. The cost basis on the Scottrade account is probably closer to $20,000 because I sold $10,000 at one point to pay some of my loans. The MDLOX is the Blackrock Global Allocation A-shares. It's performed f...
by nedsaid
Sun Oct 05, 2014 10:30 am
 
Forum: Investing - Help with Personal Investments
Topic: New investor in need of portfolio advice
Replies: 6
Views: 642

Re: 2014 Harvard U. Annual Endowment Report

There were some really interesting things in this report. I noticed that Harvard had reduced its exposure to commodities to zero. I own the Fidelity Freedom 2025 fund and it has recently reduced its exposure to commodities from 7% to 1%. Hmmm. A couple of big institutions have soured on commodities....
by nedsaid
Sat Oct 04, 2014 5:35 pm
 
Forum: Investing - Theory, News & General
Topic: 2014 Harvard U. Annual Endowment Report
Replies: 14
Views: 2164

Re: Harbor Bond Fund

The Harbor Bond Fund will be a competently run fund but of course will no longer benefit from the presence of Bill Gross. But I don't like to be dependent on a superstar manager anyway. It would be a more diversified fund than the Vanguard Corporate Bond Index. If you have decided to sell, the Vangu...
by nedsaid
Sat Oct 04, 2014 4:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Harbor Bond Fund
Replies: 6
Views: 614

Re: New investor in need of portfolio advice

Thank you in advance for reading this and for any advice you have! About me: I’m 34, married with a 1 year-old kid. I’m a doctor one year out of residency, making $240,000 per year. My wife is a teacher working 3/4 time and makes $70,000 per year. We live in NYC and rent our apartment. We are plann...
by nedsaid
Sat Oct 04, 2014 4:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: New investor in need of portfolio advice
Replies: 6
Views: 642

Re: Harbor Bond Fund

It is rarely a good idea to make a rash decision. I would stay and see what happens. Call the fund company and ask about the management of the fund. What you want to hear would be that there is a team of managers and analysts that run the fund and that it is not dependent on one person. The PIMCO To...
by nedsaid
Sat Oct 04, 2014 3:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Harbor Bond Fund
Replies: 6
Views: 614

Re: DFA vs. Vanguard -The Whitecoat investor viewpoint

Thanks for linking the article. I went to a couple Merriman presentations and passed on hiring them as I came up with the same conclusions. I didn't believe that the 1% fee was worth the access to DFA Funds. But I was very impressed with the Merriman organization. What I did though was to tilt my po...
by nedsaid
Sat Oct 04, 2014 2:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: DFA vs. Vanguard -The Whitecoat investor viewpoint
Replies: 4
Views: 1058

Re: Best book on Finance I ever read, Ben Graham's Intellige

Interesting, because we now have Sharpe's definition of passive and Graham's. The former is based on mcap market portfolios <> deviation from that. Ultimately the tradeable and nontradeable global capital market. Because every dollar deviating - for good or bad reasons, more/less risk or a free lun...
by nedsaid
Sat Oct 04, 2014 2:44 pm
 
Forum: Investing - Theory, News & General
Topic: Best book on Finance I ever read, Ben Graham's Intelligent I
Replies: 27
Views: 2606

Re: Stock Dividend Yields & Share Buybacks — A Surprise

A few thoughts on this. Just because a company announces a big share buy-back program doesn't mean that it is going to follow through with it completely. Also I have observed that companies will do these buy back programs and then in essence give the same stocks out to employees as part of their com...
by nedsaid
Sat Oct 04, 2014 10:23 am
 
Forum: Investing - Theory, News & General
Topic: Stock Dividend Yields & Share Buybacks — A Surprise
Replies: 70
Views: 4335

Re: Do you deviate from the BH philosophy?

In terms of temperament and philosophy, I align very closely to a Boglehead philosophy. In practice, I have deviated from Boglehead practices. My un-Boglehead investments are mostly legacy investments. A bit over 25% of my portfolio are in index funds, ETF's of Indexes, or funds with fees so low tha...
by nedsaid
Sat Oct 04, 2014 9:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Do you deviate from the BH philosophy?
Replies: 64
Views: 3809

Re: 4% market drop causes huge drop in sentiment

This is great news and investor sentiment is actually a very good contrary indicator. That means you have a lot of people out there who could change their mind and become buyers. When market sentiment gets excessively bullish, at some point everyone who wants to buy has bought and there are no new p...
by nedsaid
Sat Oct 04, 2014 9:16 am
 
Forum: Investing - Theory, News & General
Topic: 4% market drop causes huge drop in sentiment
Replies: 22
Views: 5101

Re: Cramer's sane moment on Gross' exit

A family member follows Cramer and the spouse has joked that the divorce papers would mention "that damned Cramer." I like Jim Cramer. He is utterly human and he has probably opened up to his audience a bit too much. If you can get beyond the maniacal antics on his show and his seemingly m...
by nedsaid
Sat Oct 04, 2014 9:02 am
 
Forum: Investing - Theory, News & General
Topic: Cramer's sane moment on Gross' exit
Replies: 24
Views: 3162
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