Search found 898 matches

by gasman
Thu Dec 22, 2011 11:13 am
Forum: Investing - Theory, News & General
Topic: Tracking Treasury Direct holdings on Vanguard
Replies: 5
Views: 1755

Re: Tracking Treasury Direct holdings on Vanguard

Vanguard successfully updated my treas direct accounts daily until the recent security upgrade. SInce then no luck.
by gasman
Tue Dec 20, 2011 5:26 am
Forum: Personal Consumer Issues
Topic: What song describes your life?
Replies: 67
Views: 5598

Re: What song describes your life?

She's so cold by the Rolling Stones
by gasman
Wed Dec 07, 2011 7:13 pm
Forum: Personal Consumer Issues
Topic: How to Die
Replies: 167
Views: 32202

Re: How to Die

I'm sitting here, digesting this article, in a knot, going back and forth about making a very personal comment. Last Tuesday my mother was admitted to the emergency room in great distress. She had perforated her bowel, and she was septic... badly so. Our options were complicated surgery with low odds and all sorts of machines (respirator, feeding tube, colostomy bag) in the aftermath of the procedure or giving pain relief and palliative care. We opted for the latter. For the next 30 hours she was free of pain and all of her children, sisters, brothers, nieces, and nephews visited her, expressed their love and care, and-- in whatever way they were able-- said their goodbyes. She went into a deep sleep that same night and never woke up. Her ...
by gasman
Wed Dec 07, 2011 4:33 pm
Forum: Investing - Theory, News & General
Topic: Burton Malkiel's New WSJ Op-Ed Article
Replies: 66
Views: 9412

Re: Burton Malkiel's New WSJ Op-Ed Article

staythecourse wrote:Let me be the first to say who cares what Mr. Malkiel says.

We spend so much time on this website advocating not listening to the experts yet people are so quick to start listening to another expert. His whole article is filled with prognostications. He is a brilliant individual and I love his book, but I could care less about his guesses in the future.

Bad article in my opinion.

Good luck.
We care because Malkiel has credibility with boglehead types. He was an early advocate for low expenses, passive management, asset allocation. Long before it became almost acceptable. Thus his words carry lots of weight.
by gasman
Tue Nov 22, 2011 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Brokerage Window used to bypass high cost 401k choices
Replies: 12
Views: 1384

Re: Brokerage Window used to bypass high cost 401k choices

Yes this works. Fees are on the high side. Merrill Lynch 401k for our practice. $125 annual fee. $29.95 stock or ETF commission. $49.95 mutual fund (limited menu including some Vanguard investor class). Worthwhile since we can shelter 49K/yr. Less clear for 17K.
by gasman
Sat Nov 19, 2011 6:05 pm
Forum: Investing - Theory, News & General
Topic: Gordon Model Update
Replies: 3
Views: 692

Re: Gordon Model Update

Thanks for the quarterly update.
by gasman
Tue Nov 15, 2011 12:19 pm
Forum: Investing - Theory, News & General
Topic: GMO 7-Year Real Return Forecast
Replies: 24
Views: 2976

Re: GMO 7-Year Real Return Forecast

To quote Dr. Bernstein, it is always good to know how expensive the tomatoes are. I appreciate these updates from GMO and others on current valuation levels and future expected returns compared with historical norms.
by gasman
Sun Nov 13, 2011 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Precius metals
Replies: 19
Views: 1861

Re: Precius metals

Depends on why I was investing. Reasonable arguments can be made for owning some precious metals equity as part of a diversified portfolio. Reasonable arguments can be made for a Harry Brown type permanent type portfolio with things like GLD.
"Gold is a cinch to keep going up" is not a reasonable argument for owning precious metals or precious metal equity in my opinion.
Owning physical gold as a "hedge" against a breakdown of civilization is not a reasonable argument for owning precious metals. If it helps you sleep at night, well that's more reasonable.
by gasman
Wed Nov 02, 2011 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Advice re dealing with tree damage to neighbor's car
Replies: 40
Views: 4942

Re: Advice re dealing with tree damage to neighbor's car

The advice is the same. Do the mental math on the cost/benefit ratio. The numerator just went up.
by gasman
Wed Nov 02, 2011 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Advice re dealing with tree damage to neighbor's car
Replies: 40
Views: 4942

Re: Advice re dealing with tree damage to neighbor's car

Agree with Taylor. Right or wrong, if you do not offer to assume or share in the burden of repairs it will poison the relationship. Do the mental math. If saving the expense is worth making an enemy of this neighbor, politely decline. You might regret the choice a few years from now either way.
by gasman
Sat Oct 29, 2011 6:09 am
Forum: Investing - Theory, News & General
Topic: more on Harrisburg and Jefferson County defaults
Replies: 2
Views: 519

Re: more on Harrisburg and Jefferson County defaults

Incompetence and corruption are not unique to these locales. Pension management gives testimony to that.
by gasman
Wed Oct 26, 2011 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Planning to Die in Debt
Replies: 15
Views: 2233

Re: Planning to Die in Debt

I am under the impression that distributions from qualified retirement plans can be attached. Thus if his creditors were to get a judgement against him they could garnish distributions from the IRA. Don't know if they could block his beneficiaries from inheriting though.
by gasman
Mon Oct 24, 2011 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: med schools - prestige or economics?
Replies: 161
Views: 12339

Re: med schools - prestige or economics?

Agree completely with lightheir
by gasman
Sat Oct 15, 2011 12:16 pm
Forum: Personal Investments
Topic: i bond question
Replies: 3
Views: 823

i bond question

Would like to buy a paper bond as gift for friend's child. Me and my wife have hit our limit on I bond purchases paper and Treas Direct this year. Don't have friend's child's SS#.
Any problems accomplishing this goal?
by gasman
Wed Oct 12, 2011 6:42 am
Forum: Personal Consumer Issues
Topic: BSEE/MSEE or BSEE/MBA?
Replies: 49
Views: 8531

If my parents were paying, I would recommend the BSEE/MSEE/MBA route.
by gasman
Sun Oct 09, 2011 6:10 pm
Forum: Personal Consumer Issues
Topic: Is it worth it to lock in the price for home heating oil
Replies: 10
Views: 1528

Locking in (or not) is a form of market timing. Roll the dice move your mice.
by gasman
Sat Oct 08, 2011 8:36 pm
Forum: Investing - Theory, News & General
Topic: Larry's latest conference call
Replies: 16
Views: 2130

Re: few thoughts

First, will I hope have a transcript with some additions on my blog sometime in near future, think maybe Tuesday. Second, what I noted is that when P/Es have been between 11-12 one study found that the future returns over next ten years averaged about 14.5%. Third, the ERP is likely higher than historical average since P/E lower AND riskless rate is 0, about 4% lower than historical average. Of course prices are where they are because investors perceive lots of risk and are demanding large risk premium. So that means careful that you don't think stocks are bargain or cheap. Just that there is perception of lots of risk. I hope that is helpful. And glad people have found the teleconference helpful Best wishes Larry Larry, Any comments about...
by gasman
Sat Oct 01, 2011 9:11 am
Forum: Personal Finance (Not Investing)
Topic: physician side income
Replies: 83
Views: 9744

I have watched many of my colleagues attempt to earn from side businesses. All have failed miserably. The reality is that for the majority is that nothing will pay us more than clinical medicine...so the obvious answer is work more.

Spending time on this site will however allow you to keep more of what you earn, if you execute-save well, spend and invest wisely.
by gasman
Wed Sep 28, 2011 10:07 pm
Forum: Investing - Theory, News & General
Topic: The Stock Market Has Been Kind to Boomers
Replies: 31
Views: 3722

Rick Ferri wrote:[quote="Noobvestor']US looks a little pricey right now on equities - I guess you're saying that that's the market's way of saying the US will stay on top?
IMO, US stocks are dirt cheap relative to all other asset classes. Many people don't agree, but one man's trash is another man's treasure. That's what makes a market!

Rick Ferri[/quote][/quote]

But shouldn't the question be "are they cheap based upon their historic valuations?" Not just compared to other asset classes?

Or does that matter?
by gasman
Sun Sep 25, 2011 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: physician partnership question
Replies: 19
Views: 1979

Ask to see the corporate bylaws...VERY important.

Are all partners equal? things like voting rights, Leadership structure, seniority based perqs, Are any non physician employees of the practice family members of the docs, Does the practice own the building? Is your partnership working towards ownership in the building, who do you pay rent to? Who does the billing? Do any of the docs have an interest in the billing company?
How long till partnership, what is the buy in like? salary reduction or do you write a big check for stock purchase? A/Rs when leaving? tail coverage?
by gasman
Sat Sep 24, 2011 8:06 am
Forum: Personal Consumer Issues
Topic: Computer Warranties: Worth the Cost?
Replies: 21
Views: 2614

I have had 3 apple laptops. Always bought apple care. Used it once for one for something minor. This is the only extended warranty that I have ever bought.
by gasman
Fri Sep 16, 2011 9:56 pm
Forum: Investing - Theory, News & General
Topic: Jason Zweig - Is Gold Cheap? Who Knows?
Replies: 15
Views: 3196

http://www.efficientfrontier.com/ef/197/preci197.htm

15 years old. But given the retunes of PME vs S&P500 and EAFE over that period, probably still valid.
by gasman
Sun Sep 11, 2011 1:01 pm
Forum: Personal Consumer Issues
Topic: Do you work to live or live to work?
Replies: 50
Views: 5378

bob90245 wrote:I need the money. So I work to live.
Yeah, but the question is why does one choose to work 40hrs/week as opposed to 70/wk or 100/wk or more year after year as opposed to sitting on their ass and doing as little as possible.
by gasman
Sun Sep 11, 2011 12:55 pm
Forum: Investing - Theory, News & General
Topic: Is the equity risk premium high enough for you?
Replies: 45
Views: 4645

Not a big fan of zero hedge, but I did find the graphs in this article interesting. It is a graph of bond yields in relation to S&P 500. Would love it if anyone had access to longer term graph. Sorry, I am only semi computer literate and unable to paste them into the post.

http://www.zerohedge.com/news/guest-pos ... -war-waged
by gasman
Sun Sep 11, 2011 11:31 am
Forum: Personal Consumer Issues
Topic: Do you work to live or live to work?
Replies: 50
Views: 5378

Re: Do you work to live or live to work?

DblDoc wrote:
gasman wrote:The second group is rapidly becoming disenchanted because of what is happening in health care and choosing the "work/life balance" track.
I resemble that remark.

DD
So do I.
by gasman
Sun Sep 11, 2011 11:26 am
Forum: Personal Consumer Issues
Topic: Do you work to live or live to work?
Replies: 50
Views: 5378

Re: Do you work to live or live to work?

I work in a career where many are passionate at what they do and are willing to devote 70-80 hours per week even if they are not paid extra for it. I like what I do...but can't say I love it. In other words, I probably wouldn't do it if I weren't being paid. My passions are found in some of my hobbies which would be difficult (but not impossible) to make a living from. I'd be curious to see some other philosophies on work. Are you a workoholic or do you prefer having some work-life balance? Would you rather work long hours for more money or have better wok-life balance and make less money? I am in medicine. There are many over the top workaholics for who not to do what they do is suicide. There are also plenty of people willing to work rea...
by gasman
Sat Sep 10, 2011 10:49 am
Forum: Personal Consumer Issues
Topic: Brand Snobbery Protects Us From Scams?
Replies: 8
Views: 1797

Alex Frakt wrote:IMO, being a "brand snob" means you get scammed every time you make a purchase since you are paying unnecessarily for all the advertising that went into making the brand desirable plus any price premium the brand commands.
The one exception is if you are a very high income and very busy individual whose time is very valuable. Comparison shopping on many items might not be worth your time. Just buy the most expensive, figuring that there is a reasonable chance that it is likely to be near the best if not the best value. Obviously this applies to a small subset of people and needs to be modified for some big ticket items.
by gasman
Wed Sep 07, 2011 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Hospital wont negotiate
Replies: 43
Views: 4288

SVariance1 wrote:Never accept no for an answer. The lady at the hospital probably has no authority to cut a deal. Go above her and argue your case.
Probably won't help.

The latest in medical billing is running credit checks on people who owe.
Also the fact that the OP has insurance suggests that he has a decent source of income. Odds are they will send this to collection.
by gasman
Tue Sep 06, 2011 10:56 am
Forum: Investing - Theory, News & General
Topic: 10-year Treasury yield hits record low today...
Replies: 23
Views: 5341

The run up in both reflect fear.
by gasman
Sun Sep 04, 2011 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Household G retirement savings annually
Replies: 30
Views: 3153

Not that meaningful a datapoint. There are undoubtedly posters here who make around 50K Also undoubtedly posters who make 500K.

Although the saving rate of the posters on this forum at all income levels is likely to be above national norms.
by gasman
Thu Sep 01, 2011 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-nup?
Replies: 205
Views: 26310

Babakhani wrote:U either trust her and marry her or don't trust her and stay single. Trust and honesty is the foundation of a good marriage. If you don't have it, it will become a self-fullfilling prophecy.
I agree for a young first marriage. For a marriage later in life, maybe kids from a previous relationship, I think a prenup is preferred.
by gasman
Wed Aug 31, 2011 3:32 pm
Forum: Investing - Theory, News & General
Topic: Do valuations influence future returns, and are they useful?
Replies: 42
Views: 4659

YES. This is exactly my interpretation of Dr. Bernstein's writings on, "How expensive are the tomatoes?" Also his suggestion that small tweaks based on historic valuation can have a positive effect on portfolios.

Also wbond's threads about market valuation. Some of the most useful info posted here for people who have already taken and passed boglehead philosophy 101.

Also Jeremy Grantham's expected asset class future returns.
by gasman
Tue Aug 23, 2011 5:53 pm
Forum: Personal Consumer Issues
Topic: Paying for college?
Replies: 24
Views: 2929

Re: Paying for college

archman wrote:My son is going to Hopkins this Fall. I went to a state school because my parents were divorced and my father (a dentist) was overwhelmed by the cost of college. I made it a priority of mine to make sure I've got the funds for my kids to go wherever they wish without loans. That is my gift to them I hope they appreciate it. Good luck!
+1.
by gasman
Sun Aug 21, 2011 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Professional degrees pricing themselves out of the market
Replies: 51
Views: 8056

The expected return on investment for most if not all professional degrees has dropped. People can always stop buying (attending) Until they do, I expect tuition to go in the same direction.
by gasman
Wed Aug 10, 2011 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Danger, Children at Play :Grantham
Replies: 9
Views: 2087

Noobvestor wrote:I find it interesting that no one is talking about commodities right now, either, given their relatively quick dip alongside stocks. I would think that for Grantham followers that might be an opportunity too?
Assuming that you agree with Grantham's analysis, the question is, "Which passive investment vehicle is yes for capturing these returns? PCRIX? VGENX?...something else?
by gasman
Wed Aug 10, 2011 7:28 pm
Forum: Investing - Theory, News & General
Topic: Santelli to Whitney: "Stick with munis"
Replies: 39
Views: 5133

Steelersfan wrote:I have a strong compulsion to turn the channel whenever the camera turns to Santelli and he starts to speak.
He is a guilty pleasure...sort of like porn.
by gasman
Wed Aug 10, 2011 7:09 pm
Forum: Investing - Theory, News & General
Topic: Poll: Changing allocation due to market?
Replies: 51
Views: 6868

If your point 4 means the same as "I've bought stocks because my rebalancing threshold was reached" I would say yes. Not sure that I consider them a bargain. Been buying stocks for 20 years. NEVER felt that they were a bargain.
by gasman
Sun Aug 07, 2011 8:07 pm
Forum: Investing - Theory, News & General
Topic: Deleted
Replies: 46
Views: 8063

I think most are confident in the boglehead stategy. Not so much in the outcome of financial crisis. There will be quite a lot of tears if we have hyperinflation or profound deflation.
by gasman
Sun Aug 07, 2011 8:06 am
Forum: Personal Finance (Not Investing)
Topic: How much umbrella insurance is enough?
Replies: 86
Views: 33799

Re: Be Careful

With the MA data; yes, only six cases in excess of a million, but that's only because very few litigation targets have >$1M of assets or coverage, and are thus worth pursuing in court. If you do have those kinds of assets or coverage, your odds are a lot higher than those data would indicate. Bill I represented many, many, really, really wealthy individuals who had assets much greater than their "exposure" (the basic insurance term-of-art). Not once in over 30 years (even when liability was reasonably clear and damages egregious, i.e., in excess of policy limits) did I ever wind up having a client being pursued for personal assets. Never. Not once. It just did not happen. Ever. Somebody asked for input from "legal" type...
by gasman
Thu Aug 04, 2011 6:28 pm
Forum: Personal Investments
Topic: How do YOU deal with staying the course?
Replies: 29
Views: 2829

Should have had one more choice in the poll: I grit my teeth and do it, knowing that it is the best strategy.

Still makes me nervous to buy when everyone is selling.
by gasman
Wed Aug 03, 2011 11:52 am
Forum: Personal Finance (Not Investing)
Topic: How did you find a job compatible with happiness?
Replies: 105
Views: 14717

Many of us haven't.

Ask the question If you won the lottery how many people would quit or drastically scale back your current job? Not stop working.

I work for the money, because of what I can do with it. I am happiest when I am on vacation. If I won the lottery I would still work, but somewhere else. For a lot less hours.
by gasman
Mon Aug 01, 2011 6:19 pm
Forum: Personal Consumer Issues
Topic: Doctors/Medical Professionals and expanding your business?
Replies: 37
Views: 4995

There are physicians who do this and they are generally very profitable. Most of these entrepreneurs started their own practices and brought other docs on board while retaining some controlling interest in the practice or outright employing the other docs. Doctors are generally SOBs to work for because they ofter confuse business interests with their personal interests. Finding docs willing to work this way is a big challenge to this model. Anyway, the reason it isn't done more ofter is basic self interest and basic business strategy. The "new" doc can himself be a direct competitor. There is generally little barrier to entering the market directly. This is not to say economies of scale and efficient office management are not imp...
by gasman
Sun Jul 31, 2011 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Medical FICO score.
Replies: 12
Views: 1684

What is this nonsense??? Medical FICO? It's my health and it is my decision to take whatever medication I want to take. Why on earth should I be scrutinized and reported on how well I stick to doctor's recommendation? Do you know that doctors: 1) Can and are incompetent. 2) Can and do prescribe improper medication and placebos. Googling up information and reading medical journals itself can oftentimes give more accurate information than from these doctors, who sometimes act as if they had no formal training or education at all. Especially when it comes to deal with common ailments... That is it man... no more trips to the doctor unless it is life or death if not you'll get blacklisted because your doctor is an idiot or incompetent... I've ...
by gasman
Sat Jul 23, 2011 3:14 pm
Forum: Investing - Theory, News & General
Topic: Latest interview with Bill Bernstein from IndexUniverse
Replies: 97
Views: 14100

Re: Malpractice/Denial of Care

1) Please, get used to the fact that our system denies essential care every day to pregnant mothers and working young people who cannot afford it. As already pointed out by others, it's immoral, and certainly economically inefficient, to continue to do so because the political system is too immature to handle just where to draw the "in/out" line so eloquently described above; the time is long past when everything can be "in." 2) The data on malpractice reform, as pointed out above, are certainly not impressive in terms of cost. The system itself, of course, is horribly unfair and unbelievably inefficient: most malpractice is not pursued, and most cases have nothing to do with malpractice. From the societal perspective, ...
by gasman
Sat Jul 23, 2011 9:52 am
Forum: Investing - Theory, News & General
Topic: Latest interview with Bill Bernstein from IndexUniverse
Replies: 97
Views: 14100

Other countries "ration" healthcare one way or other and still have longer life expectancies. Why? By not spending large amounts of money on treating the outliers - such as very premature infants with congenital anomalies, and the elderly needing heart transplants and immunosuppressants. Allowing these "statistics" to die has no effect on overall outcome statistics, but make a big difference in $ spent. Also, it does make a difference to the individuals and their families. And, while I can't cite a source right off, I strongly suspect overall life expectancy is more influenced by life style than by differences in health care delivery. Agreed. There has been at least one study that showed slightly better longevity in the...
by gasman
Sat Jul 23, 2011 9:17 am
Forum: Investing - Theory, News & General
Topic: Latest interview with Bill Bernstein from IndexUniverse
Replies: 97
Views: 14100

Bernstein: At some point, you have to take dialysis away from 80-year-olds so you can give it to 30-year-olds. Obviously, no one wants to deny treatment to very elderly people. But at the same time, that is preferable to what we’re doing now, which is denying treatment to young people for critical conditions. In my practice, I once saw a 20-year-old woman die because she couldn’t afford her anti-convulsants. That should never, ever happen in a civilized nation. I can see denying dialysis or a heart surgery to an 80-year-old . But I can’t see denying seizure meds to a 20-year-old, which our current system does every day. Sounds good on paper, but not nearly so easy in practice. So, a question for Dr B and anyone advocating limiting care for...
by gasman
Sun Jul 17, 2011 8:48 pm
Forum: Investing - Theory, News & General
Topic: ....
Replies: 116
Views: 22438

Never wrong but often early.
by gasman
Fri Jul 15, 2011 1:19 pm
Forum: Personal Consumer Issues
Topic: Negotiating Emergency Room Bills
Replies: 36
Views: 7796

Uninsured patients are CHARGED much more than insured. (Technically the insured are charged the same, but there is a contractual reduction in the fees).
Hospitals COLLECT far less on uninsured than insured patients. Low single digits.

The latest thing in billing is for medical billers to run some type of credit screens on "bad debt" to see if the person billed is unable or just unwilling to pay. DOn't know if it is contracting with the credit reporting agencies or exactly how it works. Bottom line, if they think that you can pay they are likely to go after you and not cut a deal.
by gasman
Thu Jul 07, 2011 6:49 pm
Forum: Personal Investments
Topic: TIPS- why the hate?
Replies: 19
Views: 4297

nisiprius wrote:I like them, period.
Even with a negative real yield before taxes?
by gasman
Thu Jul 07, 2011 6:19 pm
Forum: Personal Investments
Topic: TIPS- why the hate?
Replies: 19
Views: 4297

I hate TIPs at current prices.

I love TIPs if the price is right.