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Re: ER Reduced: Vanguard LifeStrategy Moderate

For some reason VG seems to come up with these fake ER reduction notices now and then. The ER on this fund has been .16% since 2012 according to the annual report.
by stlutz
Wed Mar 04, 2015 2:25 am
 
Forum: Investing - Theory, News & General
Topic: ER Reduced: Vanguard LifeStrategy Moderate
Replies: 1
Views: 213

Re: Buying a home without a realtor

We have been looking Does this mean you've been working with a realtor? Or does looking mean that you've been browsing the internet? I purchased my current home from a FSBO. I had been actively looking with a realtor. I found the property, not him. When we wrote up the offer I would have been conte...
by stlutz
Wed Mar 04, 2015 2:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying a home without a realtor
Replies: 21
Views: 1321

Re: 1099-MISC causes schedule C in TurboTax

I'm using tax software (TaxAct in my case) for the first time this year and your problem highlights my primary complaint--I wish they had the option for an interview process that is based around the 1040 form and its schedules and not around W-2s, 1099s etc. I know from filling out the forms myself ...
by stlutz
Wed Mar 04, 2015 2:06 am
 
Forum: Personal Finance (Not Investing)
Topic: 1099-MISC causes schedule C in TurboTax
Replies: 1
Views: 254

Re: Bank of America/Merrill Edge - Preferred Rewards

From my recent experience, I have been able to sell an ETF and buy another ETF on the same day with unsettled funds in an IRA account. Since IRA's typically don't have margin facility, the answer to your question is, no. ME does not require margin to trade with unsettled funds. Thanks! This is anot...
by stlutz
Tue Mar 03, 2015 11:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 48
Views: 3726

Re: Does More Indexing Mean Less Stock Trading?

It's also worth remembering that "index investing" and "buy-and-hold" are not the same thing. Many people use index funds as ways to time the market or various segments of the market (e.g. small vs. large, value vs. growth, industry X vs. industry Y etc.
by stlutz
Sat Feb 28, 2015 5:40 pm
 
Forum: Investing - Theory, News & General
Topic: Does More Indexing Mean Less Stock Trading?
Replies: 8
Views: 723

Re: Bond Funds vs Individual Bonds

I don't follow. If I buy a 5 year bond at 3% yield (IRR) and hold to maturity, then my 5 year IRR is 3%. I understand the mark-to-market is a loss 1 year later but the 5 year holding period results in a 3% IRR. Using the scenario of rates going from 3% to 4%: Assume you have a CD or you pretend tha...
by stlutz
Sat Feb 28, 2015 5:36 pm
 
Forum: Investing - Theory, News & General
Topic: Bond Funds vs Individual Bonds
Replies: 11
Views: 673

Re: PIN + Signature card in Europe

That usually means finding an attended gas station.


At least in Italy I've found that many stations take cash vending-machine style. But yes, attended is better.
by stlutz
Sat Feb 28, 2015 1:02 pm
 
Forum: Personal Consumer Issues
Topic: PIN + Signature card in Europe
Replies: 16
Views: 601

Re: Bank of America/Merrill Edge - Preferred Rewards

Does anybody know if Merrill Edge requires you to have a margin account to trade with unsettled funds? (i.e. if I want to sell an ETF and buy another one on the same day)
by stlutz
Sat Feb 28, 2015 12:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 48
Views: 3726

Re: PIN + Signature card in Europe

I couldn't get it to work at an automated gas pump in Italy. There was no attendant. I think that was user error though.


That's Italy. That's a country where cash is the way to go.
by stlutz
Sat Feb 28, 2015 12:32 pm
 
Forum: Personal Consumer Issues
Topic: PIN + Signature card in Europe
Replies: 16
Views: 601

Re: Portfolio review

A few questions/notes: a) I would exchange FFFGX for one of the Fidelity Freedom *Index* funds at Fidelity, such as FIOFX. b) Backing up, however, is there a reason you are seeking a very low international allocation? The target retirement funds you've selected (assuming you make the change I sugges...
by stlutz
Fri Feb 27, 2015 11:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio review
Replies: 15
Views: 1153

Re: How to Invest in Gold

For what it's worth, Harry Browne's rationale for gold (for the so-called permanent portfolio) was for inflation protection, but the historical record seems to indicate that it's actually not very good at protecting against currency shocks and inflation. Gold does relatively best and tracks most wi...
by stlutz
Fri Feb 27, 2015 11:09 pm
 
Forum: Investing - Theory, News & General
Topic: How to Invest in Gold
Replies: 68
Views: 3878

Re: Worth switching from Ameritrade to Vanguard?

If you want 3 funds, then VTI+BND+VEU will do the trick nicely. The performance difference between VEU and VXUS has been very small historically and it's impossible to predict which would be "better" going forward.
by stlutz
Fri Feb 27, 2015 10:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Worth switching from Ameritrade to Vanguard?
Replies: 13
Views: 998

Re: Index Muni Funds - Coming soon

See this thread for more discussion: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=154865 Bottom line is that most folks thinks in makes more sense to stick with the current funds. The new ETF would definitely be of interest to those who hold their invesetments at other firms and use Vang...
by stlutz
Thu Feb 26, 2015 11:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Index Muni Funds - Coming soon
Replies: 3
Views: 468

Re: Fidelity Premium

Have you considered just calling back and talking to someone else? I haven't heard anyone else say that only Fidelity "Premium" clients can have 2FA. Did you speak with someone in "electronic channel support"? Do you have a smartphone. Can you use the VIP access app? Then they do...
by stlutz
Thu Feb 26, 2015 10:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity Premium
Replies: 18
Views: 1707

Re: Treasury Direct (no TIPS or Series I) and taxes

A few comments. Please read the whole post before my comment #1 scares you off. :D 1) You would still have amortization and [less likely] OID to worry about. Because the bonds are auctioned, they are not sold at exactly par. For discount bonds, you have to pay OID if the discount is more than .25% p...
by stlutz
Thu Feb 26, 2015 2:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct (no TIPS or Series I) and taxes
Replies: 9
Views: 1034

Re: New Vanguard AMT-free National Municipal Bond Fund

It's from the index provider (S&P) that the 4.7 duration number came from: http://us.spindices.com/idsenhancedfactsheet/file.pdf?calcFrequency=M&force_download=true&hostIdentifier=48190c8c-42c4-46af-8d1a-0cd5db894797&indexId=10001824 As others have indicated, calculating duration is ...
by stlutz
Wed Feb 25, 2015 11:17 pm
 
Forum: Investing - Theory, News & General
Topic: New Vanguard AMT-free National Municipal Bond Fund
Replies: 79
Views: 7126

Re: Cost basis of inherited Muni Bond

You have to treat the market discount as interest. http://www.irs.gov/publications/p550/ch01.html#en_US_2014_publink100010016 The thing I'm not 100% sure on is that I believe you have to treat that discount as taxable interest and not tax exempt. But a better tax expert than me should opine on that ...
by stlutz
Wed Feb 25, 2015 11:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Cost basis of inherited Muni Bond
Replies: 3
Views: 289

Re: Individual TIPS

Given the difficulty of TD and that I'm not sure if TD allows IRAs, I purchase TIPS through a brokerage 401k or IRA at auction. There is no commission or fee charged for this. Holding in a taxable account can lead to unexpected cash flow issues for taxes if high inflation occurs. Actually, at many ...
by stlutz
Wed Feb 25, 2015 11:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual TIPS
Replies: 13
Views: 711

Re: Individual TIPS

I have found managing a portfolio of about two dozen individual TIPS issues to be a PITA.


Hi Nisi--I've seen you make this comment in many threads and I was wondering what you find to be such a PITA. (Note: Not trying to be argumentative--I'm just curious).
by stlutz
Wed Feb 25, 2015 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual TIPS
Replies: 13
Views: 711

Re: Cost basis of inherited Muni Bond

My understanding is that the cost basis would be $10,000. However, the $733.60 would be taxable interest.

The super-interesting-and-exciting Pub. 550 is your friend: http://www.irs.gov/uac/Publication-550, ... d-Expenses
by stlutz
Wed Feb 25, 2015 3:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Cost basis of inherited Muni Bond
Replies: 3
Views: 289

Re: Target Retirement Fund over self managed portfolio

What would you warn me to consider or not overlook before switching to single 2035 fund in each of the 3 retirement accounts? I think caution is always warranted when you want to deviate from a portfolio plan. In these threads I generally endorse using a TR or Life Strategy fund over a slice-n-dice...
by stlutz
Mon Feb 23, 2015 1:21 am
 
Forum: Investing - Help with Personal Investments
Topic: Target Retirement Fund over self managed portfolio
Replies: 6
Views: 967

Re: Best Use of TIPS Fund in Retirement

If the goal is to have a portion of the portfolio keep pace with inflation and maybe provide just a bit of additional return over that, the short-term TIPS fund may be a better bet than the broad market one, as that will more closely track inflation. As has been noted above, longer term TIPS will ha...
by stlutz
Sun Feb 22, 2015 4:55 pm
 
Forum: Investing - Theory, News & General
Topic: Best Use of TIPS Fund in Retirement
Replies: 17
Views: 1587

Re: Spreadsheet for backtesting (includes TrevH's data)

If I plug in GLD, I get returns dating back to 1972. But GLD didn't exist until November 2004. So how can you get returns for the years 1972 to 2004? Did you create a synthetic price series prior to 2004? Do you use a mutual fund proxy, and if so, which one? They used the actual price change in gol...
by stlutz
Sat Feb 21, 2015 3:07 am
 
Forum: Investing - Theory, News & General
Topic: Spreadsheet for backtesting (includes TrevH's data)
Replies: 645
Views: 399849

Re: Only one Schwab OneSource ETF used in Intelligent Portfo

Yes, your cash earns interest that is pegged to an index. This is based on a national average of money market deposit account rates at the $10,000 level. This average is calculated by the third party RateWatch. The rate of interest will fluctuate over time as the national average fluctuates. Good f...
by stlutz
Sat Feb 21, 2015 12:19 am
 
Forum: Investing - Theory, News & General
Topic: 22 Schwab OneSource ETF used in Intelligent Portfolios
Replies: 25
Views: 2881

Re: Only one Schwab OneSource ETF used in Intelligent Portfo

The hidden cost to watch for will be the "cash" allocation that they have. Cash investments play an important role within a well-diversified investment portfolio and serve several purposes, including greater stability, liquidity, diversification and potential inflation protection. Schwab I...
by stlutz
Fri Feb 20, 2015 11:46 pm
 
Forum: Investing - Theory, News & General
Topic: 22 Schwab OneSource ETF used in Intelligent Portfolios
Replies: 25
Views: 2881

Re: Transfer of assets into Vanguard - Cost basis info missi

By law they have 15 days after the account transfer for that infomration to come across.
by stlutz
Fri Feb 20, 2015 11:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Transfer of assets into Vanguard - Cost basis info missing
Replies: 5
Views: 343

Re: No "Value Premium" in real mutual funds

Whoa. stlutz... have I got this right...


Yes, that is what the paper from the OP argues (although with less exciting language. :) )
by stlutz
Wed Feb 11, 2015 10:51 pm
 
Forum: Investing - Theory, News & General
Topic: No "Value Premium" in real mutual funds
Replies: 32
Views: 3027

Re: No "Value Premium" in real mutual funds

I'm not quite understanding your last post. So where is the value premium supposed to exist, if not in active portfolios nor the indexes you mentioned? It exists in most significant form in stocks that are held almost entirely by individual investors. Much of the "value premium" is really...
by stlutz
Wed Feb 11, 2015 10:31 pm
 
Forum: Investing - Theory, News & General
Topic: No "Value Premium" in real mutual funds
Replies: 32
Views: 3027

Re: Advisors: should clients expect you to waive sales charg

The load pays the salesman who sold you the fund. Couldn't the advisor essentially rebate a portion of this commission to you?
by stlutz
Wed Feb 11, 2015 10:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advisors: should clients expect you to waive sales charges?
Replies: 10
Views: 1452

Re: The Future of Global Interest Rates — Trending Lower?

In an aging world, where the supply of savings is steadily growing due to more older folks, and the demand for capital is steadily falling due to fewer younger folks, it's hard for me to see how interest rates are going to return to historical levels anytime soon. Your thoughts? I don't see it this...
by stlutz
Wed Feb 11, 2015 10:23 pm
 
Forum: Investing - Theory, News & General
Topic: The Future of Global Interest Rates — Trending Lower?
Replies: 19
Views: 1662

Re: Wells Fargo Brokerage

Do you hold ETFs or mutual funds? Keep in mind that mutual funds are $35 a trade there.
by stlutz
Wed Feb 11, 2015 6:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wells Fargo Brokerage
Replies: 15
Views: 1458

Re: Is Risk Real?

The puzzle to me--I mean this seriously, not as a rhetorical question--is how to deal with the issue that "if that happens I'll have much worse things to worry about?" If you throw out all the times a national stock market went to zero, then of course stock markets "never" go to...
by stlutz
Wed Feb 11, 2015 2:30 am
 
Forum: Investing - Theory, News & General
Topic: Is Risk Real?
Replies: 74
Views: 3826

Re: Developed Markets Index Fund has lower QDI

By comparison, iShares IEFA was 91.52%. And it includes smallcaps as well, unlike VEA.

I was going to look up Schwab's SCHF as well, but they seem to have removed any information about their ETFs from their website, which is strange.
by stlutz
Wed Feb 11, 2015 2:21 am
 
Forum: Investing - Theory, News & General
Topic: Developed Markets Index Fund has lower QDI
Replies: 6
Views: 406

Re: Vanguard Ultra-Short-Term Bond Fund now available

When this fund would be attractive is at a time when the yield curve is very flat or inverted. For those who want to follow a variable maturity strategy, this type of fund would make sense then over the other options in that case. I put this in the same bucket as the int't bond fund--have no interes...
by stlutz
Wed Feb 11, 2015 1:01 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard Ultra-Short-Term Bond Fund now available
Replies: 35
Views: 3944

Re: Barclaycard Arrival Plus

The no-fee card I just got does not have a chip.
by stlutz
Mon Feb 09, 2015 10:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Barclaycard Arrival Plus
Replies: 23
Views: 1826

Re: Amica burned me, now what...

One good site for checking out insurers. Some states regulatory bodies also publish stats on consumer complaints, so that might be worth a google search as well.

http://www.badfaithinsurance.org/indexdetaillist.html
by stlutz
Mon Feb 09, 2015 10:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Amica burned me, now what...
Replies: 43
Views: 4763

Re: buy gold in euro terms

After correcting the misstatement in my post above, let's walk through this: Suppose gold goes up 50% in Euro terms and the Euro drops by 20%. In US Dollar terms, gold will go up 20%. The reason scenario B doesn't work is because commodities are priced globally. The difference in gold returns for a ...
by stlutz
Mon Feb 09, 2015 10:15 pm
 
Forum: Investing - Theory, News & General
Topic: buy gold in euro terms
Replies: 27
Views: 1332

Re: DH and I are buying bicycles

+1 to everything lightheir has said. You should spend at least a little bit of money here. Some of the advice to buy the cheapest thing you could find would be like asking about buying a car and getting recommendations to buy a 1985 Olds Delta 88 with 674,000 miles--and make sure it has at least 3 w...
by stlutz
Mon Feb 09, 2015 9:47 pm
 
Forum: Personal Consumer Issues
Topic: DH and I are buying bicycles
Replies: 39
Views: 1591

Re: Global Minimum Volatility?

also wonder if this "daily adjustments" are potentially an improvement over a twice a year rebalance like ACWV. I am curious what others think. Since these funds are investing in large and midcap stocks, I'm not worried about frontrunning issues the way we usually are with smallcap strate...
by stlutz
Mon Feb 09, 2015 9:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Global Minimum Volatility?
Replies: 39
Views: 2794

Re: Global Minimum Volatility?

Since USMV is the only one of these funds I invest in currently, I do watch it's beta. iShares has pretty consistently reported it as being around .8. Backtesting has claimed that this number should be a little lower--we'll see after the next bear market. Based on these numbers, I've been treating m...
by stlutz
Mon Feb 09, 2015 9:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Global Minimum Volatility?
Replies: 39
Views: 2794

Re: buy gold in euro terms

Sounds like Dennis Gartman.

It means making two trades.

a) buy gold
b) make a short bet on the Euro.
by stlutz
Mon Feb 09, 2015 5:37 pm
 
Forum: Investing - Theory, News & General
Topic: buy gold in euro terms
Replies: 27
Views: 1332

Re: Is 20 different mutual funds too many to own?

I would definitely worry more about the costs. But I would also make sure you are clear to yourself the degree to which you were asked to "assist." If you haven't been given power of attorney or something like that, I would personally leave well enough alone.
by stlutz
Sun Feb 08, 2015 11:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is 20 different mutual funds too many to own?
Replies: 8
Views: 657

Re: Is it worth it? [Should I retire?]

Ron's cartoon is a great one.

Let's say you have 25 years where you can really do the things you want to do (i.e. until age 80). Are you willing to give up 2% of that time for $1200/yr. when you already have a great pension? I wouldn't.
by stlutz
Sun Feb 08, 2015 11:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is it worth it? [Should I retire?]
Replies: 57
Views: 4790

Re: Vanguard cd question [Brokered CDs]

Would I be assessed a fee when purchasing new-issue Vanguard-Brokered CD? For new-issue CDs--no. Is there a better way to accomplish this? If no risk to principal is your requirement, this is a great approach. There aren't really other good ways to accomplish this that don't involve moving money ou...
by stlutz
Sun Feb 08, 2015 10:51 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard cd question [Brokered CDs]
Replies: 51
Views: 7054

Re: How are Premiums Ranked?

Just so somebody responds to your thread. :happy

This is a good article to start from.

http://www.cbsnews.com/news/how-the-fou ... iums-work/
by stlutz
Sun Feb 08, 2015 10:46 pm
 
Forum: Investing - Theory, News & General
Topic: How are Premiums Ranked?
Replies: 2
Views: 374

Re: Is Risk Real?

I think my idea of "risk" has been far more dominated by personal events than by some expectation that some equity index may drop x% tomorrow Great point. This would all be so much easier if I knew when I would die, what health problems I'll have along the way, what might happen relations...
by stlutz
Sun Feb 08, 2015 10:38 pm
 
Forum: Investing - Theory, News & General
Topic: Is Risk Real?
Replies: 74
Views: 3826

Re: Is Risk Real?

What happens in 2008-2009 is that you start thinking about the risk of a complete economic collapse. You don't say "this is a bumpy flight," you say "those wings are flexing too far." And you say "maybe the economic system is really about to collapse." You say "2 ...
by stlutz
Sun Feb 08, 2015 10:35 pm
 
Forum: Investing - Theory, News & General
Topic: Is Risk Real?
Replies: 74
Views: 3826

Re: Barclaycard Arrival Plus

By the way, I thought the Barclay's website said that the no-fee card offers 2% on travel AND dining. Just wanted to mention that, in case you dine out much


I just checked and you are correct--I hadn't realized that. Thanks!
by stlutz
Sun Feb 08, 2015 7:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Barclaycard Arrival Plus
Replies: 23
Views: 1826

Re: John Bogle on International Investing

To me, the question is "where did the 'everyone needs international stocks' meme come from, who is promoting it, and why?" B Because I believe I can recognize a hard sell when I see it, and the push for international stocks has been disproportionate to the merits of the case Replace every...
by stlutz
Sun Feb 08, 2015 7:11 pm
 
Forum: Investing - Theory, News & General
Topic: John Bogle on International Investing
Replies: 184
Views: 14907
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