Search found 32 matches

by swj05652
Sun May 31, 2015 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: beginner's question about allocation... [Hong Kong]
Replies: 19
Views: 1647

Re: beginner's question about allocation... [Hong Kong]

Glad to see other bogleheads from HK. :D For your age, I recommend 0 or little bond allocation (0 or 10%). I strongly recommend much more US and global equity exposure. Equity in HK/China/Emerging markets should be less than 40% in total. Otherwise your risk is highly concentrated. So maybe you can ...
by swj05652
Sun Mar 22, 2015 6:44 am
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

Being a foreigner also investing in Hong Kong I do something similar to the OP US (VTI/SLYV/MGK) - 35% International (VXUS/VSS) - 35% HK Tracker (2800:HK) - 10% HK REITS - 20% I used to hold the China 300 but ditched it due to ER. HK Tracker (2800:HK) is very different from China 300 in recent one ...
by swj05652
Sun Mar 22, 2015 12:28 am
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

I'd think a GDP-weighted global index might be right for you: GDP Weighted: US 28.49% Japan 10.13% China 9.81% Germany 6.70% France 5.35% UK 4.36% Canada 2.67% Australia 1.99% Switzerland 0.99% Personally I'm underweight US at the moment, and overweight China .. US returns have been great over here...
by swj05652
Sun Mar 22, 2015 12:25 am
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

I think your split of the stock allocation is reasonable for your circumstances. It overweights your home market some but not excessively. My hesitation is that your parents' retirement fund is 70:30 stocks:bonds. I'm guessing your parents are at least in their 50s. If it were me, I would want my r...
by swj05652
Sun Mar 22, 2015 12:15 am
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

What about ASHR for 10% of the equity portfolio? The ER is high (0.80 USA and 1.10% LSE) but I feel that under representing the #1 economy in the world is a mistake. VWRD has only 2% in China. The OP makes a point that I've never thought about. ASHR is OK. There are other China ETFs like FXI which ...
by swj05652
Sat Mar 21, 2015 1:38 pm
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

Why is China so under represented in the FTSE all world equity index? At first look I don't like this at all. China is the rising superpower. Because China is still not a capital free country. You cannot exchange CNY freely, and cannot transfer money to mainland freely. So for a fund company, it is...
by swj05652
Sat Mar 21, 2015 1:33 pm
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

1. The Chinese market goes on a decade long bull run, where it outperforms most other developed markets. All your friends and colleagues (who are likely heavily invested in the Chinese market) are celebrating their new found wealth. You on the other hand, have limited your Chinese market portfolio ...
by swj05652
Sat Mar 21, 2015 1:21 pm
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

I used to worry about this before. Now we hold the FTSE all world equity index and now I have no worries. This is OK for you. But as a Chinese I cannot take it. Why? Because neither FTSE all world equity index nor MSCI world index includes Chinese stock. I mean the stocks listed in Shanghai and She...
by swj05652
Sat Mar 21, 2015 1:15 pm
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

Re: How much international stock for a foreigner

Financial theory suggests that investors should hold greater allocations to foreign securities than they do. This home bias is common across asset classes and domiciles. Although there may be many rational reasons for home bias, we present certain metrics that investors can use to help determine an...
by swj05652
Sat Mar 21, 2015 12:41 pm
Forum: Investing - Theory, News & General
Topic: How much international stock for a foreigner
Replies: 23
Views: 1418

How much international stock for a foreigner

Hi there, First I'd like to thank this forum. I learn very important investment philosophy here, which may be more valuable than all things I've learned in the college. :sharebeer I am a 26 years old Chinese. I have managed my parents' retirement fund in Bogleheads way and stayed the course for 2 ye...
by swj05652
Sun Mar 15, 2015 2:03 pm
Forum: Investing - Theory, News & General
Topic: American Funds beats the market 97% of the time?
Replies: 50
Views: 5928

Re: American Funds beats the market 97% of the time?

Previously discussed here: http://www.bogleheads.org/forum/viewtopic.php?f=10&t=124718&newpost=2148898#p1827496 Factor analysis showed their alpha was almost always negative: http://www.bogleheads.org/forum/viewtopic.php?f=10&t=124718&newpost=2148898#p2149715 Very good post. I think...
by swj05652
Thu Oct 16, 2014 4:37 am
Forum: Investing - Help with Personal Investments
Topic: New to Investing, Based in Hong Kong
Replies: 64
Views: 4991

Re: New to Investing, Based in Hong Kong

I am a Hong Kong resident and put all my investments into Vanguard ETFs. I use HSBC as my broker, the biggest local bank. Their fee is not low ($18 per 1000 shares), but still reasonable. You can buy US etfs, including all Vanguard ETFs, through HSBC. Some guys recommend InteractiveBrokers, which is...
by swj05652
Thu Oct 16, 2014 4:25 am
Forum: Investing - Help with Personal Investments
Topic: Beginner Brit living in Hong Kong
Replies: 2
Views: 442

Re: Beginner Brit living in Hong Kong

I don't think HSI is a good index to put a large part of your allocation. It includes a lot of companies from China and Hong Kong. Think about the 90's Japanese stocks. :oops:
by swj05652
Sat Aug 30, 2014 9:27 pm
Forum: Investing - Theory, News & General
Topic: When to invest in China?
Replies: 51
Views: 4036

Re: When to invest in China?

People with money in China are trying to figure out how to get it out, why would I want to put any in? It's a very interesting place and it does seem pretty free until something happens like protests or something and suddenly the internet is cut off for millions of people. I am Chinese. I am invest...
by swj05652
Fri Jul 18, 2014 8:15 am
Forum: Investing - Help with Personal Investments
Topic: Refund of withholding tax possible for foreigners?
Replies: 11
Views: 1302

Re: Refund of withholding tax possible for foreigners?

First, I think most recommended AA here does not recommend a high percentage of REIT. I don't know what's your weight on REIT. If it is lower than 20%, then it is not a big issue. Second, you can fill the W-8Ben form as mainland China resident, if you have address proof to show that you live in main...
by swj05652
Thu Jul 17, 2014 9:24 am
Forum: Investing - Theory, News & General
Topic: Corporate governance of Vanguard
Replies: 6
Views: 914

Re: Corporate governance of Vanguard

Not quite. Vanguard is owned by the funds. The funds are owned by the investors. There is no direct ownership of Vanguard by the investors. The result is what you see in who votes for whom. So the managers decide how much salary they can receive? I think such a corporate structure is risky. What if...
by swj05652
Wed Jul 16, 2014 9:31 am
Forum: Investing - Theory, News & General
Topic: Corporate governance of Vanguard
Replies: 6
Views: 914

Corporate governance of Vanguard

I have a question about the corporate governance system, and the ownership of Vanguard. We know Vanguard is owned by all the investors of their funds. So we, investors, are the shareholder of this company. My question is: Who can be the board directors of Vanguard. Who decides the nomination of dire...
by swj05652
Sat Jun 22, 2013 11:42 am
Forum: Investing - Help with Personal Investments
Topic: Investing in Hong Kong
Replies: 15
Views: 1487

Re: Investing in Hong Kong

A relative is permanently relocating to Hong Kong. He has a Hong Kong identity card and local checking with Hang Seng Bank. He's looking to get some local equity exposure with some low cost index funds. He's looking at Hong Kong Tracker Fund (2800.hk) ER 0.1-0.2 (depending on bank or broker). It's ...
by swj05652
Wed Mar 06, 2013 10:48 pm
Forum: Investing - Theory, News & General
Topic: Fascinating 60 Minutes piece on Chinese Real Estate market
Replies: 64
Views: 5696

Re: Fascinating 60 Minutes piece on Chinese Real Estate mark

the residential market is locked but the commercial real estate can be traded freely. I have a brother-in-law that invested in some commercial real estate in China (used as a restaurant). It has gone about 5-6x in 15 years. He says it is by far the best investment he has ever made. About a year ago ...
by swj05652
Wed Mar 06, 2013 11:29 am
Forum: Investing - Theory, News & General
Topic: Fascinating 60 Minutes piece on Chinese Real Estate market
Replies: 64
Views: 5696

Re: Fascinating 60 Minutes piece on Chinese Real Estate mark

Hi everyone, I am a Chinese citizen. And I come from the biggest city in China -- Shanghai, which is also the city with almost the highest apartment price in China. About this phenomenon, we Chinese also discuss it everyday. And this 60minutes video is extremely HOT these days! The 2 guests appeared...
by swj05652
Sun Mar 03, 2013 8:32 am
Forum: Local Chapters and Bogleheads Community
Topic: Hong Kong Bogleheads?
Replies: 8
Views: 1097

Re: Hong Kong Bogleheads?

I am at HK! Few HK bogleheads here. And no chapter as far as I know.
by swj05652
Sun Feb 03, 2013 3:06 am
Forum: Investing - Help with Personal Investments
Topic: Rule #6- Chose index funds (questioning the Math)
Replies: 41
Views: 3022

Re: Rule #6- Chose index funds (questioning the Math)

Yes, that statement is not quite rigorous. When an active manager win against the market average, another active manager, or passive fund, or individual investor may take the loss. But in a market where most players are funds, the one who take the loss is very likely to be another fund manager. In m...
by swj05652
Sat Feb 02, 2013 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

Hi there swj I am the same as you here in HK, non-US person and investing through HSBC using all ETFs - both local and US. Before I decided to use HSBC, I did a thorough check on all online brokers available here to see which offers the best combo of exchanges you can buy, versus costs, versus how ...
by swj05652
Sat Feb 02, 2013 11:23 am
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

Hint, buy the Schwab ETFs for your international exposure (SCHE / SCHF) as these pay the dividends yearly (fewer transactions and lower fees - though higher spread) Also, it's not worth doing it with BND because they pay the "dividend" monthly - I'd rather buy US Gov bonds directly and th...
by swj05652
Fri Feb 01, 2013 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

Sorry I accidentally click "Submit". I haven't finished my reply yet. Welcome! In this forum, you are permitted to edit your posts. Just click on the "Edit" button in the top right corner of each post. Also, I PM'd someone who may be able to help you. Thank you! :D So surprising.
by swj05652
Fri Feb 01, 2013 3:26 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

As an investor in HK, I can not buy funds in Vanguard UK. Sure, but can you not buy ETFs listed on EU exchanges? I'd have though so, if you can buy ones on US exchanges. There's a list of Vanguard UK ETFs here . A TER of 0.09% on the S&P 500 fund and no hassles with US taxes seems like a good d...
by swj05652
Fri Feb 01, 2013 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

How about avoiding US domiciled ETFs entirely, and instead buying ETFs domiciled in either Ireland or Luxembourg? These come with neither US nor other foreign (to you) tax entanglements. One particular tax trap to watch out for is US estate tax on your US holdings -- that alone might persuade you t...
by swj05652
Fri Feb 01, 2013 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

How about sell VWO a day before ex and buy EEM for placeholder. But you have to make sure the two ex dates don't fall on the same date. You can then sell the EEM position, buy back VWO, and repeat the process next year. The bid/ask for both should be tight. iShares has another emerging markets etf ...
by swj05652
Fri Feb 01, 2013 12:24 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

There are several posters from Hong Kong. Just give them time. They might be asleep now; it is 12:16 am. I find many posters from Hong Kong haven't been active since 2009. Really hope that they will show up. I believe there must be someone who come up with similar idea before. May be this approach ...
by swj05652
Fri Feb 01, 2013 12:20 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

I don't believe there is a way to avoid. In the US we get an offsetting tax credit or deduction for the withholding if held in taxable account. If held in tax deferred account, we are all in the same boat of paying the tax. You can sell before the div but don't forget besides commission you are als...
by swj05652
Fri Feb 01, 2013 12:04 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Re: Avoid the dividend tax on foreign investors [Hong Kong]

I don't believe there is a way to avoid. In the US we get an offsetting tax credit or deduction for the withholding if held in taxable account. If held in tax deferred account, we are all in the same boat of paying the tax. You can sell before the div but don't forget besides commission you are als...
by swj05652
Fri Feb 01, 2013 5:11 am
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 34
Views: 3773

Avoid the dividend tax on foreign investors [Hong Kong]

[Note: restarted thread. Check post dates before responding. - admin alex] This is my first post. I knew this forum a few months ago. And I learned a lot in a recent time of period by reading the Wiki and the book " The Bogleheads Guide to Investing ". Great forum and great book! Without ...

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