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Re: Vanguard Signal Share -> Admiral Share Conversion

So does this mean that Admiral shares of Vanguard index funds are in the process of becoming readily available at your friendly cyberneighborhood non-Vanguard brokerage?
by nisiprius
Fri Oct 31, 2014 4:51 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Signal Share -> Admiral Share Conversion
Replies: 2
Views: 108

Re: Does the future of exp ratios factor into your decision?

Simplegift wrote:Source: 2014 Investment Company Fact Book
Source: Vanguard
Thank you for finding those and pointing them out.
by nisiprius
Fri Oct 31, 2014 12:58 pm
 
Forum: Investing - Theory, News & General
Topic: Does the future of exp ratios factor into your decision?
Replies: 20
Views: 676

Re: Does the future of exp ratios factor into your decision?

Nisiprius Investments--Where Your Investments Create Profit(sm) October 31, 2014 FOR IMMEDIATE RELEASE New Fund Brings Exciting New Factor to the Mass Affluent The expense ratios of actively managed mutual funds have historically fluctuated. Now, writing in the Scientific Journal of Investing Scienc...
by nisiprius
Fri Oct 31, 2014 11:42 am
 
Forum: Investing - Theory, News & General
Topic: Does the future of exp ratios factor into your decision?
Replies: 20
Views: 676

Re: Does the future of exp ratios factor into your decision?

How does the future of airline baggage fees factor into your 2024 travel plans? Talk about "lost in the noise!" The future of tax rates is about 100 times more important and I don't even factor THAT into my decisions. To begin with, the expense ratios of mutual funds from all providers has...
by nisiprius
Fri Oct 31, 2014 10:36 am
 
Forum: Investing - Theory, News & General
Topic: Does the future of exp ratios factor into your decision?
Replies: 20
Views: 676

Re: A Little Common Core Math problem

By the weigh... is a "dog pound" troy, avoirdupois, or Sterling?

Or did I mean dog hash or dog octothorp?
by nisiprius
Thu Oct 30, 2014 4:24 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2433

Re: A Little Common Core Math problem

One could just as well say there are four variables here: the weight of the front part of the dog, X; the weight of the back part of the dog, Y; the ratio of the weight of the front and back parts of the dog, R; and the weight of a cat, Z. Then we have: X + Z = 63 - Y X + Y = 8Z X = RY Even more if ...
by nisiprius
Thu Oct 30, 2014 4:21 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2433

Re: A Little Common Core Math problem

Good heavens, it can be expressed as two simultaneous equations, but they are so simple that one can perform the method of solving "by substitution" in one's head so quickly that one might as well go straight to the one-variable formulation. There isn't any right or wrong here. One of the ...
by nisiprius
Thu Oct 30, 2014 4:14 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2433

Re: your advisor should act like a good doctor

Sensible people can disagree about the range of meanings of the word "science." Oceanography is one of "the earth sciences," many universities have a department of "political science," the FBI has a "behavioral science unit," etc. However, the word "scien...
by nisiprius
Thu Oct 30, 2014 3:37 pm
 
Forum: Investing - Theory, News & General
Topic: your advisor should act like a good doctor
Replies: 44
Views: 2893

Re: A Little Common Core Math problem

I think resourcefulness counts, I think looking for multiple approaches counts, I think figuring out a way to check the answer counts. the assessment tests insist that students provide an explanation for the answer; simply providing the solution is not good enough. That seems pretty sound to me. An ...
by nisiprius
Thu Oct 30, 2014 3:22 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2433

Re: Primary Doc Steering to Specialist Within Own Group

I've been in situations several times where I had an existing relationship with a specialist at, say, Minnemegantic Epistemology Associates, and my primary care doctor was a paid employee of Zenithland Medical Superstore, with its own group of epistemologists on the 14th floor of the other tower (co...
by nisiprius
Thu Oct 30, 2014 3:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Primary Doc Steering to Specialist Within Own Group
Replies: 28
Views: 1640

Re: Intermediate Bond ETF's

You should at least be aware that Rick Ferri, who literally wrote the book on ETFs--well--literally wrote The ETF Book , anyway--has reservations about bond ETFs. I don't want to try to summarize or paraphrase an issue I don't really understand myself, so read Solving the bond ETF discount problem ....
by nisiprius
Thu Oct 30, 2014 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Intermediate Bond ETF's
Replies: 9
Views: 781

Re: A Little Common Core Math problem

P.S. "Jane has two pets, a dog and a cat. The dog weighs 8 times as much as the cat. Together, the dog and cat weigh 63 pounds. How much does the dog weigh?" The dog weighs eight cats. Together, they weigh nine cats. Therefore nine cats weigh 63 pounds. Therefore, a cat weighs um... um... ...
by nisiprius
Thu Oct 30, 2014 2:39 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2433

Re: A Little Common Core Math problem

So, you're saying that your daughter would not have been able to solve the problem if it were not Multiple Choice? If so, That's not a good plan. Weeeeeellll... I don't know about that. It is quite a puzzle. I want the kids to learn mathematics , but with the insane overreliance on standardized tes...
by nisiprius
Thu Oct 30, 2014 2:33 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2433

Re: Total World Fund - Under appreciated?

...I saw the wiki has a two fund portfolio listed now... Just for the record, if you mean the article and section Three-fund portfolio: Combining domestic and international stocks Such a two-fund portfolio would use these funds: Vanguard Total World Stock Index Fund (VTWSX) for both domestic and in...
by nisiprius
Thu Oct 30, 2014 1:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Total World Fund - Under appreciated?
Replies: 16
Views: 1774

Re: Doom and Gloom = Jeggings?

It's an interesting puzzle, how one would take an unbiased sample of expert opinion. Not criticizing, tabulating the postings in one source is about as reasonable a way as any, particularly if it turned out that it did vary with time--so even if RealClearMarkets, whatever that is, has a point of vie...
by nisiprius
Thu Oct 30, 2014 1:31 pm
 
Forum: Investing - Theory, News & General
Topic: Doom and Gloom = Jeggings?
Replies: 3
Views: 667

Re: If I am a LT investor, should I forgo a bond allocation?

P.S. The important thing is not "bond allocation," it's "non-stock allocation"--the allocation to conservative, low-risk assets. I agree with others that cash and cashlike holdings, if they are in some kind of emergency reserve and not likely to be spent on predictable annual exp...
by nisiprius
Thu Oct 30, 2014 10:11 am
 
Forum: Investing - Theory, News & General
Topic: If I am a LT investor, should I forgo a bond allocation?
Replies: 28
Views: 2054

Re: If I am a LT investor, should I forgo a bond allocation?

I do not think you should forego a bond allocation and here is why not. I am going to suppose that your rationale is that over a 30-year time horizon, stocks have less risk than bonds. Such views are often stated. Here are the reasons why I do not hold those views. 1) Reliable data for the U.S. stoc...
by nisiprius
Thu Oct 30, 2014 9:55 am
 
Forum: Investing - Theory, News & General
Topic: If I am a LT investor, should I forgo a bond allocation?
Replies: 28
Views: 2054

Re: Total World Fund - Under appreciated?

With $5.6 billion in assets, I think Total World must be well and truly established. It is over its days of redemption fees ("not a load"). As long as Vanguard itself continues in normal operation, I think it is inconceivable that they would end or merge this fund. I think it is at least p...
by nisiprius
Thu Oct 30, 2014 7:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Total World Fund - Under appreciated?
Replies: 16
Views: 1774

Re: Fidelity Mutual Fund Strategy?

I hate to open this can of worms, rentonhighlands, and it would be best if you just ignored this post, if you are a beginner just getting started, but... ... are you familiar with ETFs? Do you know what they are? If not, do glance at http://www.bogleheads.org/wiki/ETFs_vs_mutual_funds to get your be...
by nisiprius
Wed Oct 29, 2014 6:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Mutual Fund Strategy?
Replies: 11
Views: 928

Re: Fidelity Mutual Fund Strategy?

Although there's no harm in it, it is hard to see much sense in holding both Fidelity Spartan® 500 Index Fund Investor Class(MUTF:FUSEX) $2500 Fidelity Spartan® Total Market Index Fund Investor Class(MUTF:FSTMX) $2500 There isn't much difference between them. The S&P 500 is an old-fashioned meas...
by nisiprius
Wed Oct 29, 2014 5:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Mutual Fund Strategy?
Replies: 11
Views: 928

Re: No retirement benefit at work - where then should she in

I think the Roth IRA, and one important point--in a way it is not such a good thing, but it helps get over inertia--is that you can always withdraw the total number of dollars that have been contributed, with no taxes and no penalty.
by nisiprius
Wed Oct 29, 2014 5:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: No retirement benefit at work - where then should she invest
Replies: 8
Views: 747

Re: Fidelity Mutual Fund Strategy?

One starting point is to read the Wiki article about Three-fund portfolios and then the article about investing at Fidelity To cut to the chase: one possibility is Fidelity Spartan Total Stock Index Fund FSTMX Fidelity Spartan Global ex U.S. Index Fund FSGUX Fidelity Spartan U.S. Bond Index Fund FBI...
by nisiprius
Wed Oct 29, 2014 4:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Mutual Fund Strategy?
Replies: 11
Views: 928

Re: "Schwab Intelligent Portfolios"

If and when these robo-services add some kind of systematic automatic withdrawals--some reasonable variable-rate system like that built into the Vanguard Managed Payout Funds--if I can control the withdrawal rate, and if I can select a portfolio that (unlike the Managed Payout fund) is within my com...
by nisiprius
Wed Oct 29, 2014 2:06 pm
 
Forum: Investing - Theory, News & General
Topic: "Schwab Intelligent Portfolios"
Replies: 39
Views: 2452

Re: how risky is stock investing?

Hi everyone, I'm happy to discover this particular forum and this is my very first post. I bought "the intelligent investor" recommanded by Buffet and been watching lot of videos about stock investing. However, growing up, I had lot of people telling me to stay away from that because its ...
by nisiprius
Wed Oct 29, 2014 2:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: how risky is stock investing?
Replies: 16
Views: 1220

Re: Yet Another Post About Health Insurance

Insurance is state-regulated so the rules aren't uniform nationwide, but: Aren't they required to disclose their medical loss ratio (the percentage of premiums that are paid out in claims?) If so, the medical loss ratios for the two plans would be a very relevant piece of information. It wouldn't he...
by nisiprius
Wed Oct 29, 2014 11:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Yet Another Post About Health Insurance
Replies: 3
Views: 379

Re: A Challenge for Bogleheads - the market has changed

The primary message of the post I quoted at the start is that it would be almost foolish for new investors to buy the S&P 500 and other high-price stocks today , even if the new investor planned on following the Boglehead philosophy. I am not going to express any opinions about what to do. You ...
by nisiprius
Wed Oct 29, 2014 11:08 am
 
Forum: Investing - Theory, News & General
Topic: A Challenge for Bogleheads - the market has changed
Replies: 50
Views: 4563

Re: Checking monthly - may not even notice the October "cras

This did not even qualify as a correction (>10% change), let alone a crash. People have short memories of what a real crash is. Agree,,the last Crash=Opportunity was 2007-2009 :happy Actually, it seems to me that people are even forgetting 2011 . The narrative has become crash in 2008-2009, then al...
by nisiprius
Wed Oct 29, 2014 10:48 am
 
Forum: Investing - Theory, News & General
Topic: Checking monthly - may not even notice the October "crash"
Replies: 45
Views: 3203

Re: A Challenge for Bogleheads - the market has changed

The market is always changing. You can easily convince me that the market changes and that the market of today is not the same as the market of the 1990s. You can't convince me that I should try to keep changing my portfolio based on my guesses, or anybody else's, of where the market is going. The i...
by nisiprius
Wed Oct 29, 2014 7:32 am
 
Forum: Investing - Theory, News & General
Topic: A Challenge for Bogleheads - the market has changed
Replies: 50
Views: 4563

Re: who decides the stock price?

And I am not sure what they do now, but a few decades ago there were "specialists" or "market makers" whose job was to step in as a willing buyer or willing seller to make sure that nothing ever stalled.
by nisiprius
Tue Oct 28, 2014 7:26 pm
 
Forum: Investing - Theory, News & General
Topic: who decides the stock price?
Replies: 18
Views: 1482

Re: New appliances - Stainless Steel or not?

Alex Frakt wrote:...past trendy colors like pink, turquoise, coppertone, avocado, harvest gold, wheat, and black...
Alex, you cannot possibly be old enough to remember avocado and harvest gold... can you?
by nisiprius
Tue Oct 28, 2014 7:02 pm
 
Forum: Personal Consumer Issues
Topic: New appliances - Stainless Steel or not?
Replies: 54
Views: 2640

Re: who decides the stock price?

The stock market is a form of auction.
by nisiprius
Tue Oct 28, 2014 4:49 pm
 
Forum: Investing - Theory, News & General
Topic: who decides the stock price?
Replies: 18
Views: 1482

Re: Annually Recalculated Virtual Annuity

Taking a sixty-second glance, I don't see where the mortality credits come from in a "virtual annuity." "to secure an income in old age, not everyone wants to buy literal annuities — from insurance companies." But these literal annuities do include mortality credits. They say &qu...
by nisiprius
Tue Oct 28, 2014 2:09 pm
 
Forum: Investing - Theory, News & General
Topic: Annually Recalculated Virtual Annuity
Replies: 9
Views: 851

Re: your advisor should act like a good doctor

Nisiprius Like I said, just ask for it in writing Larry I did. And Vanguard gave me this in writing: All Vanguard planners are salaried and not paid commission. This ensures the planners are able to provide recommendations that are in the best interest of our clients. Vanguard Advisors, Inc. operat...
by nisiprius
Tue Oct 28, 2014 1:13 pm
 
Forum: Investing - Theory, News & General
Topic: your advisor should act like a good doctor
Replies: 44
Views: 2893

Re: New appliances - Stainless Steel or not?

I can't give a general answer, we don't have any stainless steel appliances, but I will say that our experience is that some of our stainless steel things have been a whole lot more "stainless" than others. There is a wide variety of alloys called "stainless steel." You might try...
by nisiprius
Tue Oct 28, 2014 12:04 pm
 
Forum: Personal Consumer Issues
Topic: New appliances - Stainless Steel or not?
Replies: 54
Views: 2640

Re: I give in! three fund portfolio - need some advice

P.S. The signal that using three separate funds is a mistake would be the arrival of a day when you notice that one of the three has been doing much worse than the two others, and you find that is really bothering you and making you wonder if you should ditch it.
by nisiprius
Tue Oct 28, 2014 10:14 am
 
Forum: Investing - Help with Personal Investments
Topic: I give in! three fund portfolio - need some advice
Replies: 10
Views: 1636

Re: I give in! three fund portfolio - need some advice

My boldface: ... To save on expenses it seems that investing in VTI (US total market), VEA (dev. markets) and VWO (emerging markets) would be better than just throwing it all into VT. I am thinking I'll just mirror the VT ETF, however, and have a 50/50 split between international and domestic and th...
by nisiprius
Tue Oct 28, 2014 9:57 am
 
Forum: Investing - Help with Personal Investments
Topic: I give in! three fund portfolio - need some advice
Replies: 10
Views: 1636

Re: your advisor should act like a good doctor

Nisiprius I truly don't understand why this is a difficult issue. It's very simple to tell. All you have to do is ask the advisor to put in writing that they provide a fiduciary standard of care. Nothing more is required. Just as someone else told you. If Vanguard sends me an email that says: All V...
by nisiprius
Tue Oct 28, 2014 9:22 am
 
Forum: Investing - Theory, News & General
Topic: your advisor should act like a good doctor
Replies: 44
Views: 2893

Re: your advisor should act like a good doctor

Consider the article's recommendation: ...you should only work with a financial advisor who provides a fiduciary standard of care. The fiduciary standard is the highest standard of care under the law, requiring the advisor to give only advice that is in your best interest. Most financial advisors, h...
by nisiprius
Tue Oct 28, 2014 9:10 am
 
Forum: Investing - Theory, News & General
Topic: your advisor should act like a good doctor
Replies: 44
Views: 2893

Re: your advisor should act like a good doctor

Tamales Yes, RIA must provide fiduciary standard of care. As to stuck in brokerage, that is just nonsense. No one is stuck. You can simply transfer the holdings to an RIA who will arrange for the transfer of holdings to another custodian. Nothing else must happen. There's little to no inconvenience...
by nisiprius
Tue Oct 28, 2014 7:44 am
 
Forum: Investing - Theory, News & General
Topic: your advisor should act like a good doctor
Replies: 44
Views: 2893

Re: If holding cash, do you want a Great Depression?

It's an ill wind that blows no good, but the Great Depression didn't blow much good to anybody. I was really fascinated by Benjamin Roth's The Great Depression: A Diary . Several points are worth noting. a) Through the Depression, Roth was terribly frustrated because he thought he saw all sorts of o...
by nisiprius
Mon Oct 27, 2014 9:18 pm
 
Forum: Investing - Theory, News & General
Topic: If holding cash, do you want a Great Depression?
Replies: 50
Views: 3925

Re: Who says a stock is either "value" or "growth"?

One source of confusion is that there are two different uses of the world "value stocks." One of them antedates Fama and French, and refers to the kind of investing presented by Graham and Dodd in "Securities Analysis:" the careful, detailed inspection of many aspects of a busine...
by nisiprius
Mon Oct 27, 2014 6:24 pm
 
Forum: Investing - Theory, News & General
Topic: Who says a stock is either "value" or "growth"?
Replies: 25
Views: 2041

Re: One important role of advisers? - WSJ today

Well, I guess we need to find out which it is--did U.S. households damage themselves by selling in 2008-2009 or not? because there have also been claims e.g. by Vanguard that nothing of the sort occurred. In my arrogant opinion, the chief way advisors ought to keep clients from "shooting themse...
by nisiprius
Mon Oct 27, 2014 2:40 pm
 
Forum: Investing - Theory, News & General
Topic: Bad Stock-Market Timing Fueled Wealth Disparity
Replies: 9
Views: 1071

Re: Global Equity Markets — 40 Years of Evolution at a Glanc

And there is something funny about those charts, or at least in disagreement with Vanguard's, data, because according to Vanguard, the U.S. share of global capitalization was about 66% of global in 1970. Their chart only goes to 2011 but it is currently very close to 50%. Checking the MSCI All-Cap ...
by nisiprius
Sun Oct 26, 2014 9:46 pm
 
Forum: Investing - Theory, News & General
Topic: Global Equity Markets — 40 Years of Evolution at a Glance
Replies: 10
Views: 1274

Re: Global Equity Markets — 40 Years of Evolution at a Glanc

And there is something funny about those charts, or at least in disagreement with Vanguard's, data, because according to Vanguard, the U.S. share of global capitalization was about 66% of global in 1970. It was about 44% in 2010. So, the area of the U.S. circle for 2010 ought to be about 45/66 = 66%...
by nisiprius
Sun Oct 26, 2014 7:51 pm
 
Forum: Investing - Theory, News & General
Topic: Global Equity Markets — 40 Years of Evolution at a Glance
Replies: 10
Views: 1274

Re: Do stocks have an intrinsic fundamental value?

1) If we look at bonds, we know, barring default, precisely how many dollars it will pay out on what dates. However, we don't know the intrinsic value, because we don't know what that set of future payments is worth. 2) The whole basis of trade is that things do not have one intrinsic fundamental va...
by nisiprius
Sun Oct 26, 2014 7:11 pm
 
Forum: Investing - Theory, News & General
Topic: Do stocks have an intrinsic fundamental value?
Replies: 31
Views: 1963

Re: Barron's on Schwab [CEO prefers Indexing for 401ks]

Really quite interesting--Googling on "Inside Schwab" worked for me--particularly this item: In 1984, the firm launched the first mutual fund supermarket, allowing its investors to buy and sell different mutual funds from one account instead of opening separate accounts at various mutual f...
by nisiprius
Sun Oct 26, 2014 2:06 pm
 
Forum: Investing - Theory, News & General
Topic: Barron's on Schwab [CEO prefers Indexing for 401ks]
Replies: 16
Views: 2135

Re: wealthfront inveatment recomend me this one

Regrettably, it appears that Wealthfront uses cookies to remember your answers, and your link won't show me your recommendation--just brings me back to the questionnaire. You had better copy the actual portfolio. OR, alternatively, this might be more interesting, if you wouldn't mind sharing your ac...
by nisiprius
Sun Oct 26, 2014 11:52 am
 
Forum: Investing - Help with Personal Investments
Topic: wealthfront inveatment recomend me this one
Replies: 3
Views: 740

Re: ITOT vs. VTI

In my personal opinion, given the choice between two very-low-cost index ETFs, from big brand-name companies that have good reputations, that use indexes from two competent index providers that are supposed to track about the same thing, do what is convenient, and don't overthink. Consider these two...
by nisiprius
Sun Oct 26, 2014 11:26 am
 
Forum: Investing - Help with Personal Investments
Topic: ITOT vs. VTI [iShares Total US Stock ETF vs. Vanguard]
Replies: 14
Views: 855

Re: So you think you're a Risk-taker?

The risk takers got lucky in 2008 and 2009 because of federal bailouts and coordinated actions from central banks. There is no guarantee whatsoever other bailouts will occur next time around. Good luck everyone. What's important is not the apparent outcome of 2008-2009. I agree, to people who didn'...
by nisiprius
Sun Oct 26, 2014 9:00 am
 
Forum: Investing - Theory, News & General
Topic: So you think you're a Risk-taker?
Replies: 36
Views: 3792

Re: Bucket Approach Redux

Christine Benz, who is usually levelheaded, has been writing columns about the bucket concept for Morningstar. Afraid I haven't been reading those columns. What bothers me deeply about the "buckets" concept is the failure of its advocates to talk through the scenario of what exactly happen...
by nisiprius
Sat Oct 25, 2014 9:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bucket Approach Redux
Replies: 35
Views: 2567
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