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by noyopacific
Wed May 06, 2015 9:36 am
Forum: Investing - Theory, News & General
Topic: Best Time of Year to Rebalance Portfolio?
Replies: 54
Views: 4036

Re: Best Time of Year to Rebalance Portfolio?

Deadwood wrote:I find rebalancing each year on my birthday works well :happy

I have found that my wife's birthday is also an excellent time to rebalance. :wink:
by noyopacific
Tue Apr 28, 2015 11:09 pm
Forum: Personal Consumer Issues
Topic: What is the best roofing material?
Replies: 17
Views: 1769

Re: What is the best roofing material?

My experience is that is generally best to use whatever roofing materials are among the most common in your area. Choosing something that local contractors are not familiar with results in too many problems. One friend choose a very expensive, thick asphalt-fiberglass composition product that was su...
by noyopacific
Sat Apr 25, 2015 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Is the 1% Cost of Managing Money Worth It?
Replies: 53
Views: 4762

Re: Is the 1% Cost of Managing Money Worth It?

I believe that the 1% annual AUM charge is very much worth it when: 1. The client lacks the knowledge to develop a good investment plan. 2. The client is intimidated about taking responsibility for investment decisions. 3. The client lacks the discipline to follow a plan / stay the course. 4. The ma...
by noyopacific
Wed Apr 22, 2015 7:50 pm
Forum: Investing - Theory, News & General
Topic: Trying to beat the index is futile
Replies: 17
Views: 1935

Re: Trying to beat the index is futile

My overly technical self doesn't allow me to leave this statement uncorrected. It is not futile. It is just very difficult. How about ? Trying to beat the index is usually worse than futile. Trying to beat the index most frequently results in inferior risk-adjusted returns. Trying to beat the index...
by noyopacific
Wed Apr 22, 2015 7:01 pm
Forum: Investing - Theory, News & General
Topic: David Booth interviews Eugene Fama
Replies: 11
Views: 1893

"trying to nail an index, that's stupid !"

I liked his comments about paper writing: keep it as simple as possible. Put all of the simple stuff in the beginning and the technical at the end to hold the reader's attention as long as possible. I enjoyed this too and when he went on to remark that how half of a business (Like DFA) was marketin...
by noyopacific
Tue Apr 21, 2015 2:09 pm
Forum: Investing - Theory, News & General
Topic: Has anyone changed their asset allocation
Replies: 58
Views: 3555

Re: Has anyone changed their asset allocation

I have an inherited IRA that I have to empty over the next 5 years. I decided to switch it to 85% bonds because I wouldn't have enough time to recover from a stock market crash, and that was preying on my mind. Better safe than sorry. (My personal IRA? International stocks up the wazoo. Wheeee!) Th...
by noyopacific
Mon Apr 20, 2015 2:16 pm
Forum: Investing - Theory, News & General
Topic: Has anyone changed their asset allocation
Replies: 58
Views: 3555

Re: Has anyone changed their asset allocation

I increased my bond allocation because the "long running and possibly tired bull market" had pushed my balance over 100% of our retirement goal. I did this even though the the long-term outlook for 2% bonds seems pretty bleak to me. Equities may not look attractive at current P/E levels bu...
by noyopacific
Wed Apr 15, 2015 7:20 pm
Forum: Investing - Theory, News & General
Topic: Do REITs really offer effective portfolio diversification?
Replies: 108
Views: 9156

Re: Do REITs really offer effective portfolio diversificatio

I think it is inaccurate to try and call REIT's a separate "asset class." Vanguard classifies REIT's as a sector which I believe is the correct classification. Ever sector could be said to have some unique characteristics but that doesn't make any of them a unique asset class. If the REIT ...
by noyopacific
Tue Apr 14, 2015 5:02 pm
Forum: Personal Consumer Issues
Topic: Neighbor hired a surveyor. Should I be nervous?
Replies: 81
Views: 10091

Re: Neighbor hired a surveyor. Should I be nervous?

I have a good friend who is a surveyor. He as lots of hillarious stories about people disputing their property lines. The bottom line is that residential property owners are often passionate about the limits of their territory . The rational concept of a legal boundary description isn't the issue so...
by noyopacific
Sun Apr 12, 2015 3:23 pm
Forum: Personal Consumer Issues
Topic: gold bullion
Replies: 16
Views: 911

Re: gold bullion

I want to buy some 1 oz. gold bullion and want to know what I should expect to pay over market price. sam Many years ago I bought some Krugerrands from a local coin shop. The premium over market was a few %. I was willing to accept coins with some signs of wear, often caused from being carried insi...
by noyopacific
Wed Apr 08, 2015 5:51 am
Forum: Personal Consumer Issues
Topic: Norwesco water tanks
Replies: 17
Views: 1816

Re: Norwesco water tanks

I have a 2500 gallon tank made by Rotonics. I like it but I'm quite familiar with the Norwesco and Snyder tanks and they are perfectly fine too. I'd compare the weight of the tanks with others of similar volume. There are a few lighter weight tanks around and I'd avoid them. Also you will probably w...
by noyopacific
Sun Apr 05, 2015 3:10 am
Forum: Investing - Theory, News & General
Topic: Investment returns like the extremely rich
Replies: 13
Views: 2072

Re: Investment returns like the extremely rich

Interesting but I would guess there is relatively little overlaps between the Forbes 400 list in 1982 and the list today. In other words, many of those on the current list had far less in wealth than the top 400 in 1982, so it is likely that many of those on the current list have wealth that has gr...
by noyopacific
Fri Apr 03, 2015 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Letter from Lawyer to enter my property to construct road
Replies: 39
Views: 6452

Re: Letter from Lawyer to enter my property to construct roa

In the mean time I would post the area in question "No Trespassing," possibly erect some sort of a baricade and if anyone enters your property, tell them that they are trespassing and if they refuse to leave, call law enforcement immediately. I have no idea why you would consider this a g...
by noyopacific
Thu Apr 02, 2015 7:12 pm
Forum: Investing - Theory, News & General
Topic: Bogle says: "Active mutual funds could disappear:
Replies: 28
Views: 3551

Bogle says: "Active mutual funds could disappear:

http://www.marketwatch.com/story/active-mutual-funds-could-disappear-john-bogle-2015-04-02 Calling active mutual funds "fat, dumb and happy" as they take in billions in pointless fees from retirement investors, Vanguard Group founder John Bogle predicts the end of the active management in...
by noyopacific
Thu Apr 02, 2015 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Letter from Lawyer to enter my property to construct road
Replies: 39
Views: 6452

Re: Letter from Lawyer to enter my property to construct roa

. . . What is the boglehead way (not very expensive) of finding a real estate attorney. Will they work on fixed fee? Assuming that you got a policy of title insurance when you purchased the property, the inexpensive option would be to contact the title insurance company. Show them the letter and fi...
by noyopacific
Wed Apr 01, 2015 12:56 pm
Forum: Investing - Theory, News & General
Topic: Sheldon Jacobs, Author in Rise of No-Load Funds, Dies at 84
Replies: 6
Views: 602

Re: Sheldon Jacobs, Author in Rise of No-Load Funds, Dies at

Sheldon Jacobs book: "The Handbook for No-Load Fund Investors" was one of my first investment books too. I still have it on my bookshelf. It only had about 20 pages of basic discussion about investing with a page and a half devoted to a general discussion about index funds. Most of the 400...
by noyopacific
Tue Mar 31, 2015 7:15 pm
Forum: Investing - Theory, News & General
Topic: Did you learn anything from 2008?
Replies: 105
Views: 9043

Re: Did you learn anything from 2008?

. . . I think people need a realistic lower risk option that still allows them to get their basic retirement needs covered. I don't think we should have practically a whole generation of people whose ability to support themselves in their 80s is largely dependent on what the stock market does in th...
by noyopacific
Mon Mar 30, 2015 11:40 pm
Forum: Investing - Theory, News & General
Topic: Did you learn anything from 2008?
Replies: 105
Views: 9043

Re: Did you learn anything from 2008?

I can eat raw fish without any problem but I learned that a 40%+ drop in my portfolio does result in some excess stomach acid. I also learned that my wife and I could handle it; in fact I think we were both pleasantly surprised with our ability to accept (endure) risk. My wife's brother was incredul...
by noyopacific
Sun Mar 29, 2015 11:41 pm
Forum: Personal Consumer Issues
Topic: Building a new house. Any recommendations?
Replies: 53
Views: 5620

Re: paper is cheap

Spend at least 1 year in the planning stage. +1 My goal would be to have planned and specified everything before you start construction. Making decisions on the fly not only adds to the pressure, change orders are extremely expensive, even when you have people working for time & materials rathe...
by noyopacific
Sat Mar 28, 2015 2:21 pm
Forum: Investing - Theory, News & General
Topic: Michael Spence: Are Equities Overvalued?
Replies: 13
Views: 1688

Re: One-armed economists

I am reminded of the time President Harry Truman asked to be sent a one-armed economist. When asked why, he replied: "I'm tired of them saying: "On the one hand, this" and "On the other hand, that". Good one ! I was going to say that compared to historic measurements equiti...
by noyopacific
Sat Mar 28, 2015 1:53 pm
Forum: Investing - Theory, News & General
Topic: "Are Index-Fund Investors Smarter?"
Replies: 29
Views: 3546

Re: "Are Index-Fund Investors Smarter?"

Googling the words: "Are Index Fund Investors Smarter" did lead me to the excellent article. I was pleased to note the authors comment: "I suspect it is less about greater intelligence and more about greater conviction." I agree! It has long been my belief that being "smart&...
by noyopacific
Thu Mar 26, 2015 8:33 pm
Forum: Investing - Help with Personal Investments
Topic: Help me understand Vanguard Small-Cap Value (VSIAX)
Replies: 8
Views: 955

Re: Help me understand Vanguard Small-Cap Value (VSIAX)

A more solid theoretical approach would be to calculate the Fama-French factor loadings for a fund or for a portfolio depending on funds selected. I would guess that the appropriate Fama-French calculations have been done by the Center for Research in Security Prices. VSIAX tracks the CRSP Small Va...
by noyopacific
Thu Mar 26, 2015 4:47 pm
Forum: Investing - Help with Personal Investments
Topic: Help me understand Vanguard Small-Cap Value (VSIAX)
Replies: 8
Views: 955

Re: Help me understand Vanguard Small-Cap Value (VSIAX)

The Small-Cap Value Index Fund (VSIAX) is supposed to match the CRSP U.S. Small Cap Value Index. I didn't take the time to check but will assume that it matches this benchmark as closely as is practical. I am going to assume that the $8 Bil threshold is bigger than you would consider to be considere...
by noyopacific
Tue Mar 24, 2015 4:54 pm
Forum: Investing - Theory, News & General
Topic: What Happens When Vanguard Owns Everything?
Replies: 19
Views: 5073

Re: What Happens When Vanguard Owns Everything?

Vanguard's role is definitely becoming more important with it's increased size. There's some responsibilities with that I'd like to see more efforts on, such as aligning corporate governance with the interests of the owners. I found my way to the letter Vanguard sent to Directors of it's largest in...
by noyopacific
Sat Mar 14, 2015 9:50 pm
Forum: Investing - Help with Personal Investments
Topic: DFA funds?
Replies: 11
Views: 1541

Re: DFA funds?

My "take" on DFA is that they are fine. The company was founded by people who seem to enjoy dissecting historic returns to find potential opportunities where one might find an edge in terms of risk-adjusted returns. It is a slice & dicers dream. I don't happen to share the apparent ass...
by noyopacific
Fri Mar 13, 2015 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Kit homes?
Replies: 7
Views: 859

Re: Kit homes?

I don't have any experience with log homes but looked seriously at various "kit" homes a couple of times. After I had a good idea what the kits included I compared the kits to the more traditional approach. I found that when you compare them side by side, kit homes were just a more expensi...
by noyopacific
Thu Mar 12, 2015 4:07 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie looking for advice re:VWINX
Replies: 1
Views: 326

Re: Newbie looking for advice re:VWINX

Welcome to the forum and congratulations on your decision to keep a bigger share of your investment returns. It is easier on the rest of us if you use fund names rather than ticker symbols. RBLSX = Russell LifePoints Balanced Strategy Fund Class S VWINX = Vanguard Wellesley Income, VWELX = Vanguard ...
by noyopacific
Thu Mar 12, 2015 2:29 pm
Forum: Investing - Theory, News & General
Topic: Is High Frequency Trading a Problem For Bogleheads?
Replies: 42
Views: 2142

Re: Is High Frequency Trading a Problem For Bogleheads?

Do you guys think HFT is a problem on any level for Boglehead investors, who either use index-based ETFs or mutual funds? I would guess that HFT is probably a small issue for index fund investors. The managers of our funds do need to trade to manage inflows and outflows of capital as well as to adj...
by noyopacific
Wed Mar 11, 2015 7:13 pm
Forum: Investing - Theory, News & General
Topic: 100% Stocks Long Term Pro/Con
Replies: 51
Views: 3870

Re: 100% Stocks Long Term Pro/Con

A major correction in equities of 40 % or more that happens shortly before or after retirement can have a devastating effect on ones SWR (Safe Withdrawal Rate) / income for retirement. This sort of correction is not at all unusual and the market will not necessarily recover as quickly as it did the ...
by noyopacific
Wed Mar 11, 2015 4:58 pm
Forum: Investing - Help with Personal Investments
Topic: Edward Jones - Ripped off Advice
Replies: 20
Views: 1614

Re: Edward Jones - Ripped off Advice

Nice to have you here Dean. I'm having some difficulty understanding part of your situation. I don't have access to the statements anymore (all accounts have been transferred to Vanguard and Fidelity) :) If these accounts were transferred to Vanguard and Fidelity, how is it that you don't have acces...
by noyopacific
Wed Mar 11, 2015 1:58 pm
Forum: Investing - Help with Personal Investments
Topic: moving LLPFX to Vanguard ?
Replies: 3
Views: 406

Re: moving LLPFX to Vanguard ?

There is nothing particularly bad about Longleaf. It is one of the few fund families that I've actually seen video of Jack Bogle speak highly of. I've owned Longleaf's Small Cap Fund since long before it was closed to new investors and still own a tiny amount but most of that has been moved into Van...
by noyopacific
Wed Mar 11, 2015 1:18 am
Forum: Personal Finance (Not Investing)
Topic: Private Company Restricted Stock
Replies: 6
Views: 570

Re: Private Company Restricted Stock

If I had this opportunity, the first question I'd ask is: will your decision to purchase shares or not be a consideration that might affect your future prospects with the company ? Precisely how is the annual determination of value (price?) made ? I would do my best to determine if the determined pr...
by noyopacific
Fri Mar 06, 2015 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Financial Plan is Dead!
Replies: 26
Views: 6031

Re: Vanguard Financial Plan is Dead!

This is news to me too. I can see how that would be disappointing, especially if the Personal Advisor Service requires an "assets under management" percentage fee and a commitment. I got one of their plans many years ago. It was an okay plan but wasn't of very much use to me. It was basica...
by noyopacific
Tue Mar 03, 2015 3:05 pm
Forum: Personal Consumer Issues
Topic: Who has owned a ski boat or waverunner & did you regret it?
Replies: 19
Views: 1844

Re: Who has owned a ski boat or waverunner & did you regret

I used to own a 16' aluminum (Starcraft) bow rider with 85hp outboard. It was light and easy to tow with most cars. Pulling the boat out of the water with a small car on a steep launching ramp could be a challenge because it requires both power and traction. For power to weight performance as well a...
by noyopacific
Thu Feb 26, 2015 1:05 pm
Forum: Investing - Theory, News & General
Topic: REITs [Why did Vanguard's REIT lose 2% today?]
Replies: 33
Views: 3692

Re: REITs [Why did Vanguard's REIT lose 2% today?]

Why did Vanguard's REIT funds lost 2% today? REIT funds track the REIT sector. Prices will reflect movements in the REIT index. The only reason for concern is when performance differs from the REIT index. If you are looking for a rational explanation of the daily performance of this or any index or...
by noyopacific
Wed Feb 11, 2015 10:27 pm
Forum: Local Chapters and Bogleheads Community
Topic: SIGN PETITION FOR Jack Bogle's Presidential Medal of Freedom
Replies: 182
Views: 13291

Re: PETITION FOR Jack Bogle's Presidential Medal of Freedom

I like Jack Bogle and his accomplishments - but the Presidential Medal of Freedom?? "an especially meritorious contribution to . . . public or private endeavors" Unless there are accomplishments that I am not aware of. Jack's CV looks pretty good to me. There might be something on it you ...
by noyopacific
Wed Feb 11, 2015 10:25 am
Forum: Local Chapters and Bogleheads Community
Topic: SIGN PETITION FOR Jack Bogle's Presidential Medal of Freedom
Replies: 182
Views: 13291

Re: Where is John C. Bogle's Presidential Medal of Freedom?

Thanks.
BTW: The petition must get 150 signatures in order to be publicly searchable on WhiteHouse.gov.
by noyopacific
Wed Feb 11, 2015 5:52 am
Forum: Local Chapters and Bogleheads Community
Topic: SIGN PETITION FOR Jack Bogle's Presidential Medal of Freedom
Replies: 182
Views: 13291

Re: Where is John C. Bogle's Presidential Medal of Freedom?

That sort of felt like a "Double-Dog Dare Ya!" Fine, I'll bite. Now sign and promote it. https://petitions.whitehouse.gov/petition/john-c-bogle-should-get-presidential-medal-freedom/tMKz5zyh Apologies to Phil DeMuth, I edited the heck out of what you wrote to meet the 800 character maximum...
by noyopacific
Wed Feb 11, 2015 12:13 am
Forum: Investing - Theory, News & General
Topic: How do slice and dicers rebalance?
Replies: 14
Views: 742

Re: How do slice and dicers rebalance?

How often do you rebalance all of those asset classes? I do it once a year. I don't have any empirical evidence or great logic to support this. I do it because once a year is convenient and it helps me to remember my wife's birthday. & Why To maintain the level of risk that I'm comfortable with...
by noyopacific
Tue Feb 10, 2015 11:45 pm
Forum: Investing - Theory, News & General
Topic: Passive Investing Makes Even More Sense In Inefficient Mkts
Replies: 8
Views: 1189

Re: Passive Investing Makes Even More Sense In Inefficient M

Morningstar's Samuel Lee: I can think of two reasons why unskilled investors would voluntarily play in an inefficient market: 1) they are delusional, unaware of their own incompetence, or 2) they are willing to lose money for the thrill of playing. Most investors who play do not do so with the expe...
by noyopacific
Tue Feb 10, 2015 9:35 pm
Forum: Investing - Theory, News & General
Topic: What Experts Say about Individual Stocks vs. Mutual Funds
Replies: 56
Views: 5414

Re: What Experts Say about Individual Stocks vs. Mutual Fund

Larry Swedroe, author of many financial books: "Owning individual stocks and sector funds is more akin to speculating, not investing." Mr Swedroe also said Re REITs. The simple answer is that they are in the GOOD category in my new book on alternative investments. http://www.bogleheads.or...
by noyopacific
Tue Feb 10, 2015 3:25 pm
Forum: Personal Consumer Issues
Topic: I'm not a bad Boglehead [buying Powerball ticket]
Replies: 101
Views: 6658

Re: I'm not a bad Boglehead

Even lottery winners are often losers in the end (they squander the money.)
I hope you win and then demonstrate that the tenants of Boglehead-ism can help you overcome this kind of challenge !
http://money.cnn.com/2015/02/10/pf/lottery-winners-losers/
by noyopacific
Fri Feb 06, 2015 10:58 am
Forum: Investing - Theory, News & General
Topic: Why publish indexes?
Replies: 9
Views: 786

Re: Why publish indexes?

Why do Dow Jones, S&P, Wilshire and other companies create and publish indexes? The reason the major indexes were developed initially was that these media outlets report the news. Investment market indexes are a very inexpensive way to develop a popular news item to report on a daily basis. It ...
by noyopacific
Fri Feb 06, 2015 6:19 am
Forum: Investing - Theory, News & General
Topic: Should we all invest in hedge funds?
Replies: 20
Views: 1480

Re: Should we all invest in hedge funds?

The reason I want to invest in hedge funds is: ⋅ I want hot chicks. ⋅ I want a guarantee I will live to age 110 in health and happiness. ⋅ I want world peace. It's true that hedge funds can't give me any of these things, but that's a detail. I'm with Nisiprius on this....
by noyopacific
Fri Feb 06, 2015 4:17 am
Forum: Investing - Help with Personal Investments
Topic: Foreign to energy
Replies: 10
Views: 766

Re: Foreign to energy

When my wife or I are inspired to try something different, we require that any changes be agreed to by both of us, then held off for six months and after that not until our next annual rebalancing date. This allows sufficient time to either regain our senses or feel satisfied that the change is reas...
by noyopacific
Fri Feb 06, 2015 1:54 am
Forum: Personal Finance (Not Investing)
Topic: Would you give a homeless person 20-50 dollars?
Replies: 27
Views: 1482

Re: Would you give a homeless person 20-50 dollars?

I would not loan (or give) money to someone based only on fact that I have met them a few times and they asked. It would not bring me any pleasure and if I gave them the "loan" I would feel I had been a fool. I'd be annoyed that they asked without offering anything in return. This type of ...
by noyopacific
Fri Feb 06, 2015 1:31 am
Forum: Investing - Theory, News & General
Topic: Does a bond fund's yield really measure risk?
Replies: 8
Views: 373

Re: Does a bond fund's yield really measure risk?

I would say that yield will partially reflect a bond funds level of risk but there are some other obvious factors. Average duration of the bonds in the fund can have a large impact on the yield. Another factor could be the funds expense ratio. If one fund had higher turnover than another, trading co...
by noyopacific
Wed Feb 04, 2015 10:51 am
Forum: Local Chapters and Bogleheads Community
Topic: San Francisco Bay Area Bogleheads?
Replies: 18
Views: 2581

Re: San Francisco Bay Area Bogleheads?

You might also join the Yahoo group Bay Area Diehards (bayareadiehards.) There is occasional activity in this group, 14 postings last year. A dozen of us got together a two years ago to hear Guest Speaker Vladimir Masek, PhD (mathematics). Dr. Masek is an associate of Larry Swedroe.
by noyopacific
Tue Feb 03, 2015 11:43 pm
Forum: Personal Finance (Not Investing)
Topic: What was your financial situation before having first child?
Replies: 34
Views: 2861

Re: What was your financial situation before having first ch

Our financial situation was similar to yours. We were 36 & 43. No debt except for a mortgage. We never obsessed about money. We saved 15% or perhaps a bit more. I may be slightly obsessive about the subject of investing but have never been an active trader. My wife is an active partner in invest...
by noyopacific
Tue Feb 03, 2015 11:27 pm
Forum: Investing - Theory, News & General
Topic: Vanguard survey: what should they do differently?
Replies: 72
Views: 4580

Re: Vanguard survey: what should they do differently?

1. Take a more active stance on corporate governance - Vanguard is a huge shareholder in many companies, need to use that clout better 2. Disclose exec pay 3. Invest more in IT 4. A rewards program where I earn points for buying vanguard funds and can redeem for kitschy stuff like a multi purpose V...

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