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Re: Financial Planners, DFA, and your opinions please!

I am a mostly do-it-yourself investor. But I have worked with stockbrokers, insurance agents, financial planners, etc. though I make all the decisions myself. I have had my portfolio analyzed by different people and learned something each time. So yes, I could have done it myself but the financial p...
by nedsaid
Sun Aug 31, 2014 12:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Financial Planners, DFA, and your opinions please!
Replies: 26
Views: 1230

Re: Why invest in foreign funds?

I would turn the question around and ask, "Why not invest in foreign funds?"
by nedsaid
Sun Aug 31, 2014 11:47 am
 
Forum: Investing - Theory, News & General
Topic: Why invest in foreign funds?
Replies: 34
Views: 1826

Re: Spouse not ready to cut ties with financial advisers

I wanted to comment on Pizzasteve510's comments. I found myself agreeing with much of what he said and disagreeing on other points. I agree that investing has a lot of similarities to gambling. I agree that calculating odds best you can and tilting them in your favor are keys to success in investing...
by nedsaid
Sun Aug 31, 2014 11:39 am
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 8751

Re: When to invest in China?

Valuethinker, thank you for your excellent comments. Years ago, I had a friend who taught English in Nanking, China. We exchanged a lot of e-mails and I learned a lot about China from him. Someday I would like to visit and see for myself. What I have observed are the large amounts of Chinese tourist...
by nedsaid
Sun Aug 31, 2014 10:59 am
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 43
Views: 1710

Re: What's the Market Neutral fund good for?

Thanks Grok87, I was going to comment about leverage being another risk factor in Market Neutral funds. I read articles on this and didn't see any references to leverage. I thought I remembered that some of these funds used leverage but I couldn't confirm it and withheld comment. In theory, market n...
by nedsaid
Sun Aug 31, 2014 10:40 am
 
Forum: Investing - Help with Personal Investments
Topic: What's the Market Neutral fund good for?
Replies: 45
Views: 5397

Re: Poor Janus, a look at this once high flying fund family

http://news.morningstar.com/articlenet/article.aspx?id=662475 Morningstar had an article entitled, "Is Janus on the mend?" It is a very interesting article. The former Chief Investment Officer of Equities Enrique Chang was brought over from American Century to help right the ship. It fits ...
by nedsaid
Sat Aug 30, 2014 11:15 pm
 
Forum: Investing - Theory, News & General
Topic: Poor Janus, a look at this once high flying fund family
Replies: 69
Views: 6365

Re: What's the Market Neutral fund good for?

Yes, Grok87, a Market Neutral Fund could help an entire investment portfolio by reducing its volatility. How much of a portfolio allocation to a market neutral fund would you need to have any effect on the overall portfolio volatility? To the extent that you would reduce volatility, wouldn't you red...
by nedsaid
Sat Aug 30, 2014 10:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: What's the Market Neutral fund good for?
Replies: 45
Views: 5397

Re: When to invest in China?

I am investing in China but only in the proportions that my various International Funds and Index Funds have invested. I do not own a China specific fund or ETF. Yes, China can be compared to the "Asian Tigers" which rapidly industrialized and had autocratic governments that gradually demo...
by nedsaid
Sat Aug 30, 2014 10:14 pm
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 43
Views: 1710

Re: Emerging markets 1900-2013

Valuethinker, thank you for commenting on my post. Excellent point about capital mobility around the world. We are seeing capital flight from Russia right now with the Ukraine crisis. Whenever a crisis like this hits, we could expect money to flow from emerging nations to safe haven nations. So the ...
by nedsaid
Sat Aug 30, 2014 9:55 pm
 
Forum: Investing - Theory, News & General
Topic: Emerging markets 1900-2013
Replies: 53
Views: 4727

Re: A Primer on John Templeton

John Bogle may not have profited the way John Templeton did, but he was a very good businessman. He chose not to maximize his take. Many small businessmen would be very pleased to have John Bogle's net worth as well as something that money can't buy and that is the admiration and respect from millio...
by nedsaid
Sat Aug 30, 2014 5:52 pm
 
Forum: Investing - Theory, News & General
Topic: A Primer on John Templeton
Replies: 28
Views: 2072

Re: When to invest in China?

Hmmm. Another comparison with Japan. I remember the Japanese buying up US real estate in the 1980's. I used to joke that we sold Hawaii to Japan at outrageous prices and bought it back at bargain prices after the Japanese markets crashed. A huge exaggeration, but it makes a point. I don't remember w...
by nedsaid
Sat Aug 30, 2014 5:11 pm
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 43
Views: 1710

Re: Indexing in EM, and Templeton's Mobius

Sadly, I have owned the Templeton Developing Markets Trust for many years. It is a value fund, which should have helped its performance compared to the indexes. It underperformed the index and also failed to capture the value premium as well. Fortunately, it is a relatively small holding. The Frankl...
by nedsaid
Sat Aug 30, 2014 4:57 pm
 
Forum: Investing - Theory, News & General
Topic: Indexing in EM, and Templeton's Mobius
Replies: 10
Views: 989

Re: When to invest in China?

Another great point. If wealthy people are emigrating from China and taking their money with them, a very simple question comes up. Do these wealthy Chinese know something that we don't? Thanks 111.
by nedsaid
Sat Aug 30, 2014 4:42 pm
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 43
Views: 1710

Re: Emerging markets 1900-2013

My foggy memory banks recall the term Emerging Markets being used only since the 1980's, so my recollection is similar to Nisiprius. I am a bit skeptical about reliable data going back to 1900 for the US Stock Market and even more skeptical about the data for Emerging Markets. Still the data compile...
by nedsaid
Sat Aug 30, 2014 4:29 pm
 
Forum: Investing - Theory, News & General
Topic: Emerging markets 1900-2013
Replies: 53
Views: 4727

Re: What's the Market Neutral fund good for?

Grok87, I have read many of your posts and respect your opinions. Why are you in the Vanguard Market Neutral Fund? Just curious.
by nedsaid
Sat Aug 30, 2014 3:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: What's the Market Neutral fund good for?
Replies: 45
Views: 5397

Re: What's the Market Neutral fund good for?

This thread reminds me of a comment that a smart aleck said on another thread. It went something like this, "When an asset class performs poorly over time, its defenders will cite low correlation with the stock market and tout its diversification benefits." Sounds about right to me for the...
by nedsaid
Sat Aug 30, 2014 3:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: What's the Market Neutral fund good for?
Replies: 45
Views: 5397

Re: When to invest in China?

Yes, China is still a communist country. It is still one party rule. From my understanding, there is more freedom now than the days of Mao. Deng Xiaoping brought economic reform and introduced a form of state capitalism. But the party never gave up power and though "true communism" isn't p...
by nedsaid
Sat Aug 30, 2014 3:29 pm
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 43
Views: 1710

Re: When to invest in China?

I would stick to the broad International Stock Funds/Indexes and Emerging Market Funds/Indexes. I would not buy a China specific fund. My belief is that China is Japan on steroids and that their market will cool off in similar fashion to Japan's. I see a lot of the same issues: overinvestment, a lot...
by nedsaid
Sat Aug 30, 2014 2:51 pm
 
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 43
Views: 1710

Re: POLL: Breaking up with advisor

Years ago, I had a Bank CD IRA at a bank. A friend of mine went into the brokerage business and I took that account to him. He lasted a year and I got passed on to another broker. Broker #2 I was actually with maybe 5-6 years, he moved up to being manager of the office. I was dropped as he concentra...
by nedsaid
Sat Aug 30, 2014 2:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: POLL: Breaking up with advisor
Replies: 47
Views: 2867

Re: A Primer on John Templeton

John Templeton was one of my favorite guests on Wall Street Week with Louis Rukeyser. I remember him as an investor with an eye on value and an individual with relentless optimism. I saw him interviewed many times on television.
by nedsaid
Sat Aug 30, 2014 10:58 am
 
Forum: Investing - Theory, News & General
Topic: A Primer on John Templeton
Replies: 28
Views: 2072

Re: Poor Janus, a look at this once high flying fund family

This does show how investing fortunes can change. I remember when the Janus Funds were the darlings of the 1990's, though I never owned them myself. There were a lot of fund groups during that time who were well-known, seemed to perform well, and many of which were no-load. Boy how times have change...
by nedsaid
Sat Aug 30, 2014 10:36 am
 
Forum: Investing - Theory, News & General
Topic: Poor Janus, a look at this once high flying fund family
Replies: 69
Views: 6365

Re: Buy & Hold Forever Blue Chip Stocks???

I own individual stocks myself in my retirement portfolio and have for many years. Here are observations from my experience. 1) You should do okay with a well chosen selection of stocks diversified across industry sectors. 2) It is doubtful you will outperform the broad market indexes doing this. Wh...
by nedsaid
Sun Aug 24, 2014 10:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buy & Hold Forever Blue Chip Stocks???
Replies: 73
Views: 3859

Re: What 5 stocks can I own forever?

That is a great question. The problem with your question is that nothing is forever. Eastman Kodak was the bluest of blue chips and we all know what happened with the new digital technology. I owned it years ago as a turn around story but it obviously never turned around. Good candidates for this ty...
by nedsaid
Sun Aug 24, 2014 9:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: What 5 stocks can I own forever?
Replies: 58
Views: 4455

Re: What is your experience managing a 8 or 9 digit portfoli

Thanks LadyGeek for your comments. I have done okay in life but I have not amassed anywhere near what some posters on this forum have mentioned. Not everyone here is a millionaire and I am glad to see comments that there is good advice here for everyone.
by nedsaid
Sun Aug 24, 2014 9:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: What is your experience managing a 8 or 9 digit portfolio
Replies: 11
Views: 2214

Re: I need "Ultra High Net Worth" investing advice please

But my gosh, $50 million raises a lot of issues that maybe $500,000 does not. Yes, the issues do get more complicated. There are the "gotcha" features in the tax code that start hitting at above about $100,000 in income. For example, there are new taxes on investment for higher income peo...
by nedsaid
Sun Aug 24, 2014 9:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 215
Views: 15359

Re: I need "Ultra High Net Worth" investing advice please

If I got $50 million, I would probably err on getting too much advice as opposed to too little. It is the thing that this is a really big event and I wouldn't want to screw it up. So I have approached my retirement this way too. I am a competent individual who is very interested in personal finance ...
by nedsaid
Sun Aug 24, 2014 8:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 215
Views: 15359

Re: I need "Ultra High Net Worth" investing advice please

It sounds like you are down to US Trust and Vanguard. Why not try them both for a while and see who is better in terms of knowledge, service, and quality of advice? You could compare the fees also. If US Trust cost more than Vanguard, make the judgment whether or not the extra fees are worth what yo...
by nedsaid
Sun Aug 24, 2014 4:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 215
Views: 15359

Re: I need "Ultra High Net Worth" investing advice please

Here is a suggestion, why not test drive the Vanguard Advisor services and at the same time test drive a competitor? You can compare the level of service, the depth of knowledge of the advisors, and the quality of the recommendations. Then after working with both for a while, go to whoever you like ...
by nedsaid
Sun Aug 24, 2014 3:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 215
Views: 15359

Re: Good interview with John Bogle

Wow. John Bogle market timed in 2000, going from 80% stocks to maybe 25% stocks in part because of extremes in market valuations and in part because of health issues. He also talked about not being 100% out of the stock market. He basically said that you cannot ignore market conditions. I have poste...
by nedsaid
Sun Aug 24, 2014 3:35 pm
 
Forum: Investing - Theory, News & General
Topic: Good interview with John Bogle
Replies: 34
Views: 3695

Re: I need "Ultra High Net Worth" investing advice please

...The idea of assembling a team of people to help you is an excellent one. If you are a member of a Rotary Club or something like that, perhaps you could seek out a couple respected and successful members of the community for some good general advice. A couple of good mentors. I am not sure of the...
by nedsaid
Sun Aug 24, 2014 3:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 215
Views: 15359

Re: I need "Ultra High Net Worth" investing advice please

Congratulations on your success. I suppose one of the first things that I would do is learn about how other people in a similar position successfully handled dealing with so much money. My understanding that Peter Lynch, the retired Fidelity Magellan Fund Manager, and his wife spent a lot of their t...
by nedsaid
Sun Aug 24, 2014 9:46 am
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 215
Views: 15359

Re: WSJ/Zweig- The Decline and Fall of Fund Managers

Just as we celebrate the demise of active management, we see "passive" managers looking more and more like active managers. Larry Swedroe has posted a lot about factors that outperform the market averages. Let's see if I can remember them: Value, Size, Quality, Momentum, Liquidity. So as t...
by nedsaid
Sat Aug 23, 2014 10:22 am
 
Forum: Investing - Theory, News & General
Topic: WSJ/Zweig- The Decline and Fall of Fund Managers
Replies: 21
Views: 2350

Re: When did you hear of Bill Miller and Legg Mason Value Tr

I probably heard about Bill Miller sometime in the late 1990's. What I remember about him was his excellent track record and that he was a "Value" manager who made some pretty big and risky bets. One of his favorite picks was Amazon.com. Before people dump on this guy too much, remember th...
by nedsaid
Sat Aug 23, 2014 10:02 am
 
Forum: Investing - Theory, News & General
Topic: When did you hear of Bill Miller and Legg Mason Value Trust?
Replies: 32
Views: 2322

Re: Can a Commodities Fund be a Long-Term Investment?

I do not own a commodities fund except as part of a Target Date Retirement Fund that I own. I want to own asset classes that have real returns above inflation over time. I think of these as an insurance policy against certain unforeseen events. If I had Larry Swedroe as my advisor and I invested wit...
by nedsaid
Sat Aug 23, 2014 12:55 am
 
Forum: Investing - Theory, News & General
Topic: Can a Commodities Fund be a Long-Term Investment?
Replies: 45
Views: 2687

Re: Inflation-indexed SPIAs: A Good Deal?

I would actually consider an Inflation-Indexed Single Premium Immediate Annuity. One way to think of it is that you are taking lower payments now in exchange for inflation adjustments later. Another way of thinking of this is that a non-inflation indexed SPIA gives you all your inflation adjustments...
by nedsaid
Sat Aug 23, 2014 12:45 am
 
Forum: Investing - Theory, News & General
Topic: Inflation-indexed SPIAs: A Good Deal?
Replies: 22
Views: 2908

Re: Why don't utilities get any praise

Utilities I think are a good area for investment. The problem is that times are a changing and you wonder if electricity demand from electric companies will hold up with the advances in solar power. How many homeowners will go off the grid completely? I owned a couple of Utility stocks and both were...
by nedsaid
Fri Aug 22, 2014 10:50 pm
 
Forum: Investing - Theory, News & General
Topic: Why don't utilities get any praise
Replies: 39
Views: 3695

Re: Spouse not ready to cut ties with financial advisers

There should be agreement between spouses about financial matters. I agree that the Original Poster should not steamroll her husband in moving everything to Vanguard. We have to remember who the $3 million belongs to Miakis and her husband. We are telling them what they CAN do with their funds but n...
by nedsaid
Sun Aug 17, 2014 7:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 8751

Re: WSJ: Is Your Portfolio Too Diversified?

There is a point where adding more asset classes doesn't add anything in return. The goal is to boost returns a bit and hopefully smooth out the ride. I could see a scenario in which just adding asset classes could decrease returns and actually increase volatility. Some thought has to go into this, ...
by nedsaid
Sun Aug 17, 2014 2:23 pm
 
Forum: Investing - Theory, News & General
Topic: WSJ: Is Your Portfolio Too Diversified?
Replies: 23
Views: 3318

Re: Spouse not ready to cut ties with financial advisers

Some perspective is in order. First of all, you have done well. A $3 million portfolio is the envy of most people, even Bogleheads. Miakis, you seem to be a level headed and competent individual. You benefitted from a rising stock market the last five years. So the situation you are presenting is ac...
by nedsaid
Sun Aug 17, 2014 2:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 8751

Re: Shiller on Lofty Market Elevations

All other things being equal, stock valuations are higher when interest rates are low. This is a big reason we are seeing elevated price/earnings ratios. In bull markets, stocks always look expensive. In bear markets, stocks always look dangerous. I believe that stock prices are richly valued but we...
by nedsaid
Sun Aug 17, 2014 11:36 am
 
Forum: Investing - Theory, News & General
Topic: Shiller on Lofty Market Elevations
Replies: 55
Views: 4916

Re: Help understanding tibs (similar to i-bonds)

I looked at your link, it appears that your market interest rates in Australia are more like 3-4%. The 6 percent coupon you were seeing were on older bonds that are ready to mature. I would be very surprised if you could get a market rate of 6%. The coupon rate isn't what you are really getting as I...
by nedsaid
Sun Aug 17, 2014 11:27 am
 
Forum: Investing - Theory, News & General
Topic: Help understanding tibs (similar to i-bonds)
Replies: 6
Views: 486

Re: Help understanding tibs (similar to i-bonds)

If you live in Australia and spend in Aussie Dollars, this sounds like a good deal to me. I am unaware of inflation rates in Australia but 6% on a government bond sounds pretty darned good to me. I assume these operate like TIPS, where you get a stated interest rate plus the inflation adjustment. Th...
by nedsaid
Sun Aug 17, 2014 11:22 am
 
Forum: Investing - Theory, News & General
Topic: Help understanding tibs (similar to i-bonds)
Replies: 6
Views: 486

Re: Spouse not ready to cut ties with financial advisers

Wow, no wonder why you have been pleased with your investment results. You have a 100% stock portfolio which would have done great since the stock market has been strong for 5 years now. Your portfolio appears to be aggressive even for a 100% stock portfolio. You have been L-U-C-K-Y. I just can't im...
by nedsaid
Sun Aug 17, 2014 11:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 8751

Re: Help understanding tibs (similar to i-bonds)

If you are a US investor buying Aussie bonds, you are taking on currency risk. If the US Dollar/Aussie Dollar maintain a stable price relationship, you will make out like a bandit effortlessly collecting the 6 percent. However, if the US Dollar significantly increased in value versus the Aussie Doll...
by nedsaid
Sun Aug 17, 2014 10:46 am
 
Forum: Investing - Theory, News & General
Topic: Help understanding tibs (similar to i-bonds)
Replies: 6
Views: 486

Re: Do Super wealthy have access to different investing vehi

The super wealthy would have more opportunity to invest in private equity or to even purchase privately held companies. There is also better access to hedge funds which I believe guarantee higher fees and not necessarily better performance. A very wealthy person could amass his or her own real estat...
by nedsaid
Sun Aug 17, 2014 10:39 am
 
Forum: Investing - Theory, News & General
Topic: Do Super wealthy have access to different investing vehicles
Replies: 76
Views: 6280

Re: 'Risk Creep' - new term

I believe that "risk creep" is a problem for all of us. Professional investors are subject to the same exact problem, even Target Date Retirement Funds seem to be increasing their allotment of stocks in their portfolios. Right now two things are causing this. Low interest rates and reachin...
by nedsaid
Sun Aug 17, 2014 10:30 am
 
Forum: Investing - Theory, News & General
Topic: 'Risk Creep' - new term
Replies: 26
Views: 2243

Re: Market Timing?

I advocate taking advantage of extremes of market sentiment and valuations but only at the margins. I would never sell all my stocks, probably at most I would sell 30% of my stocks in a market euphoria. In 2000, I sold about 15% of my stocks and took this to cash. In 2008-2009, I was too scared to r...
by nedsaid
Sat Aug 16, 2014 11:04 am
 
Forum: Investing - Theory, News & General
Topic: Market Timing?
Replies: 20
Views: 1233

Re: “The more I learn, the more I realize how much I don't k

I have used the golf analogy to investing. Many a good athlete has been humbled by golf. There are all kinds of very smart people who have been humbled by investing. Do the right things and do them consistently as an investor and you will succeed. But yes, I have to admit that I realize how little I...
by nedsaid
Sat Aug 16, 2014 10:53 am
 
Forum: Investing - Help with Personal Investments
Topic: “The more I learn, the more I realize how much I don't know"
Replies: 18
Views: 1924

Re: “The more I learn, the more I realize how much I don't k

If you are going to err, it is best to err on the side of conservatism. With a five year bull run in the stock market, a lot of us are feeling pretty frisky. But bad things can happen to good people in the stock market. Since 2000, we have seen two declines of 50% or more in the broad US Stock Marke...
by nedsaid
Fri Aug 15, 2014 10:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: “The more I learn, the more I realize how much I don't know"
Replies: 18
Views: 1924

Re: International and Emerging Markets Small Cap Value

Livesoft, I liked very much the article that you linked to. Thanks for posting. WOW, a lot of asset classes listed there. More than what I would consider but the article is a great source of information.
by nedsaid
Mon Aug 11, 2014 3:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: International and Emerging Markets Small Cap Value
Replies: 8
Views: 989
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