RTP, NC Chapter Meeting Sat July 31, 2010

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Steve Thorpe
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RTP, NC Chapter Meeting Sat July 31, 2010

Post by Steve Thorpe »

Hello Research Triangle Park NC Area Bogleheads,

Please mark your calendars for the next local chapter meeting scheduled for 9:30 AM in Durham on Saturday July 31, 2010. [ Edited to adjust location - Steve ]

I'll post a reminder update as the time draws closer, with a strawman agenda as well as directions and the exact time. For now just wanted to let folks know the date so as to get it on your calendars.

Could you please let me know if you're planning to attend? That way we can best estimate how many to prepare for.

Also FYI for those local 'heads not already on the list, I set up a Yahoo "rtpbogleheads" email list for our local chapter. Please consider joining the list to help our chapter communications (see below for joining details). From the group's description:
Welcome to the yahoo group of the Research Triangle Park, North Carolina Area Bogleheads Chapter. The Bogleheads are an investing and personal finance interest group inspired by the example of Jack Bogle, the founder of the Vanguard mutual fund company.

This list is primarily to foster easy communications among our local chapter members, in particular regarding reminders and logistics on upcoming meetings which we hope to hold approximately quarterly. All are encouraged to continue use the national forum (bogleheads.org) for most postings.

Please stick to the spirit of the national chapter's forum policies and etiquette: basically, keep to investing topics and stay away from politics. Further details on posting etiquette can be found here: http://www.bogleheads.org/forum/viewtopic.php?t=405

Initially this list will be configured to allow through all member postings in an un-moderated fashion, though adjustments may be made later as deemed appropriate by the list manager.

If you're interested to know of other local Boglehead chapters, please see the Google Map maintained by Mel Lindauer at http://www.lostsprings.com/diehards/chapters/

Thank you!

Steve Thorpe
RTP Area Bogleheads Chapter Organizer
rtpbogleheads Yahoo Group Addresses are:

Code: Select all

Subscribe:          rtpbogleheads-subscribe@yahoogroups.com
Post message:       rtpbogleheads@yahoogroups.com
Unsubscribe:        rtpbogleheads-unsubscribe@yahoogroups.com
List owner:         rtpbogleheads-owner@yahoogroups.com
Group home page:    http://groups.yahoo.com/group/rtpbogleheads
Please feel free to PM me if you have questions about yahoo group logistics.

Best wishes.
Last edited by Steve Thorpe on Thu Jul 22, 2010 11:45 pm, edited 2 times in total.
Steve Thorpe
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Steve Thorpe
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Joined: Mon Oct 15, 2007 1:26 pm
Location: Durham, NC

Post by Steve Thorpe »

Hello RTP Area Bogleheads,

Reminder on our upcoming meeting scheduled for the morning of Saturday July 31.

We originally scheduled it for 9:30 AM at Ed's home, however Ed and I have been discussing whether to possibly change the venue to Durham. If held in Durham, that would likely be in the community room of the condominium complex where I live, at 500 N. Duke St. near Brightleaf Square. Raleigh is still an option but if held there it would probably be held at 10:00 AM instead of 9:30.

I'll send out a strawman agenda in a few days, but for now could anyone planning to attend please PM me to let me know your preference among these options:

1) 9:30 AM in Durham
2) 10:00 AM in Raleigh
3) either way is fine by me - I'll be there!
4) sorry I can't make it

Please let me know by Wednesday evening and I'll announce the final decision sometime Thursday.

Thank you RTP 'heads! :lol:
Steve Thorpe
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Steve Thorpe
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Location: Durham, NC

Post by Steve Thorpe »

Hello again,

OK its official - the next RTP Area meeting will be held at 9:30 AM Saturday July 31 in Durham, in the community room of the condo complex where I live:

Community room at the Building 54 Entrance
500 N. Duke St.
Durham, NC 27701

Directions from the corner of Main St. and Duke St. (near Brightleaf Square): Travel north on N. Duke St. from the corner of Main St. and Duke St. 2-3 short blocks later, you'll see Corporation St. and 500 N. Duke Street on your right, and the Durham School of the Arts on your left. Take a right onto Corporation St., and an immediate left into the parking lot for the Warehouse Condos. Park in any available spot then proceed to the entrance labeled "54" (the second awning from the left). The community room is just to the right of that entrance. Click here for a Google Map

Bagels will be provided



Please RSVP to me if you're planning to join us.


Proposed Agenda:

Meeting starts promptly at 9:30 AM


1. Welcome / Introductions / Agenda Bash(5-10 minutes)



2. Updates from Duke University Economics Professor Ed Tower (~15 minutes)

A 100,000 foot view of mutual fund regression analysis



3. Share an Update or Observation / Ask a Question

Attendees are encouraged to share something of interest to their fellow Bogleheads, and/or to ask an investment-related question that's been on their mind. Steve will also share his copies of two recent books with the group: "The Bogleheads Guide to Retirement Planning" and William Bernstein's "The Investor's Manifesto".



4. Planning for our our next meeting

When?: 9:30 AM Saturday November 6 or 13?
Or should we spread it out a little more?


What?: Any suggested topics?

Where?



5. Meeting adjourns at approximately 11:00 AM
Steve Thorpe
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Steve Thorpe
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Post by Steve Thorpe »

Hello 'heads!

Just a "bump" to remind folks about our upcoming Durham meeting at 9:30 AM this coming Saturday - see above for directions and tentative agenda. Based on the RSVPs we have approximately 6 attendees lined up & as always it would be great to have more. See you Saturday morning!

Steve
Steve Thorpe
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Steve Thorpe
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Post by Steve Thorpe »

Hello everyone,

Just sending along a quick summary of the 4th RTP Bogleheads meeting, held this morning in Durham, NC. Ed, Jim, Carl, Tony, Kirk and I attended and as usual we had an intriguing and fun discussion touching on many topics, including:
  • Handling the constant investing tug-of-war between one's head and one's stomach is DIFFICULT. We spoke for quite a while regarding portfolio allocation strategies and implementation techniques.

    Timing the lows and highs of the market is pretty much impossible, except by the luck of random chance.

    GMO's 7-Year Asset Class Return Forecasts, along with their "estimate of net value expected to be added from active management"(:roll:!) included in the fine print. Much conversation ensued about GMO vs. Vanguard and GMO's claim. As it turns out, GMO's expectation of added value hasn't regularly occurred in the past.... not a surprise to a typical Boglehead! (Seems "added" in this context may be a code word for "subtracted")

    Ed gave us a 100,000 foot view of doing mutual fund regressions in Excel, which culminated with examples of several graphs comparing historical results of Vanguard and GMO. This was extremely interesting to the whole group. Thank you Ed!

    Thailand's culture is fascinating! (Ed just returned from a summer teaching there)

    Modigliani and Modigliani's "M-squared", expressed in percentage terms, evaluates the annualized risk-adjusted performance of a portfolio in relation to the market benchmark. It is similar to the more commonly known Sharpe ratio. Curiously this paper was written by a 80-something grandfather and his granddaughter! After the meeting I found this very interesting obituary of the grandfather, some others on the forum may enjoy it: http://www.independent.co.uk/news/obitu ... 48827.html

    Long term bonds are generally seen as unattractive at the present time.

    Nassim Taleb's excellent book "Fooled by Randomness" was recommended to the group.

    Malcolm Gladwell's "What the Dog Saw: And Other Adventures" was recommended.... this is a compilation of the author's favorite work from The New Yorker, where he has been a staff writer since 1996.

    High yield bonds had moderate interest among the group.

    CCFs had very little interest among most of the group members.

    I shared my copies of "The Bogleheads Guide to Retirement Planning" and Bill Bernstein's "The Investor's Manifesto" with the group.

    We agreed on a homework assignment: read Dan Ariely's latest book "The Upside of Irrationality: The Unexpected Benefits of Defying Logic at Work and at Home" so we can discuss at the next meeting.

    Finally we set a date for the next meeting: Saturday November 6, 2010 at 9:30 AM. Stay tuned for further details on venue.
I had so much fun this morning - it is a joy speaking face-to-face with Bogleheads! (esp. since I know so few of us in "real life") :)
Steve Thorpe
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Location: Durham, NC

meeting

Post by tower »

steve: thanks for organizing it. group: great discussion. fun, informative, stimulating. ed
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