Search found 129 matches

by Always passive
Sat Oct 14, 2017 11:54 pm
Forum: Personal Consumer Issues
Topic: Dental implants in Poland
Replies: 29
Views: 2253

Re: Dental implants in Poland

I have lived in many places in the world and been exposed to medical experiences outside the US. My view is that you can find good and bad service almost anywhere. In Israel, where I now live, medicine is extremely advanced, but again you need to know who to go to. I would only get out of my comfort...
by Always passive
Sat Oct 14, 2017 6:45 am
Forum: Investing - Help with Personal Investments
Topic: Tax implications of investing through London Stock Exchange for non-resident investors
Replies: 23
Views: 1987

Re: Tax implications of investing through London Stock Exchange for non-resident investors

Are you moving to the UK (or another country with equivalent US income tax and US estate tax treaties)? If yes, you could also use US domiciled ETFs without issues, since the UK/US tax treaties provide you with comparable US tax rates on dividends and decent insulation from US estate taxes. This is...
by Always passive
Fri Oct 13, 2017 8:19 am
Forum: Investing - Help with Personal Investments
Topic: Tax implications of investing through London Stock Exchange for non-resident investors
Replies: 23
Views: 1987

Re: Tax implications of investing through London Stock Exchange for non-resident investors

Swiss stamp duties are levied on each purchase and sale of shares, bonds, structured products, investment funds, ETFs and other securities. ... Stamp duties on Swiss shares (Swiss ISIN): 0.075% Stamp duties on foreign shares (non-Swiss ISIN): 0.15% source: https://www.moneyland.ch/en/swiss-stamp-du...
by Always passive
Thu Oct 12, 2017 10:53 am
Forum: Investing - Theory, News & General
Topic: With panicked homeowners selling their flooded homes for 40¢ on the dollar, investors are flocking to Houston
Replies: 35
Views: 6164

Re: With panicked homeowners selling their flooded homes for 40¢ on the dollar, investors are flocking to Houston

I live in Houston and currently rent. Was previously a homeowner. I no longer view home ownership as a means to financial independence or even as a life milestone. I've seen too many people lose a lot of home equity making panic moves. There's a lot of mixed feelings on this debate, some people wan...
by Always passive
Tue Oct 10, 2017 11:54 pm
Forum: Investing - Help with Personal Investments
Topic: Tax implications of investing through London Stock Exchange for non-resident investors
Replies: 23
Views: 1987

Re: Tax implications of investing through London Stock Exchange for non-resident investors

A slightly different question: Are there any transaction taxes, like Stamp Tax, when trading ETFs (in this case Irish ones) in the Swiss or London Stock Exchanges? A family member bought IUAA, the US Aggregate Bond ETF through the Swiss Exchange and HSBC shows price = $5.0823; however the transactio...
by Always passive
Tue Oct 10, 2017 8:02 am
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 3871

Re: Protecting against the possibility of a correction?

But for those in retirement, like me, markets may not fully recover during our life time after a 2008 type correction. So, what is the Bogleheads strategy for us? NO equities? Perhaps you should take a look at the "liability matching portfolio". I don't know enough about it to comment, but it might...
by Always passive
Tue Oct 10, 2017 7:41 am
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 3871

Re: Protecting against the possibility of a correction?

Is anyone doing anything to protect against the possibility of a correction, apart, of course, from the standard Bogleheads stay the course, rebalance, etc? Meb Faber has an article out where he explains the use of a combination of monthly 5% out of the market put options on the market plus governm...
by Always passive
Tue Oct 10, 2017 1:38 am
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 3871

Re: Protecting against the possibility of a correction?

Is anyone doing anything to protect against the possibility of a correction, apart, of course, from the standard Bogleheads stay the course, rebalance, etc? No. I do the boring old "don't invest money you need anytime soon in stocks, static asset allocation I can tolerate in a market downturn rebal...
by Always passive
Tue Oct 10, 2017 1:36 am
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 3871

Re: Protecting against the possibility of a correction?

The Bogleheads® Philosophy *Develop a workable plan *Invest early and often *Never bear too much or too little risk * Never try to time the market <----------- *Use index funds when possible *Keep costs low *Diversify *Minimize taxes *Keep it simple * Stay the course <-------------- This a standard...
by Always passive
Tue Oct 10, 2017 12:37 am
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 3871

Protecting against the possibility of a correction?

Is anyone doing anything to protect against the possibility of a correction, apart, of course, from the standard Bogleheads stay the course, rebalance, etc? Meb Faber has an article out where he explains the use of a combination of monthly 5% out of the market put options on the market plus governme...
by Always passive
Mon Oct 09, 2017 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: How to handle a large ETF purchase?
Replies: 6
Views: 494

Re: How to handle a large ETF purchase?

Sorry can't help with such orders not on US exchanges. You might wish to add the exchange to your thread title. Why it would make a difference? The trade will be through the respectable London Stock Exchange. The problem is that the size of the desired purchase is about $1 m while the iShares web s...
by Always passive
Mon Oct 09, 2017 1:49 pm
Forum: Investing - Help with Personal Investments
Topic: How to handle a large ETF purchase?
Replies: 6
Views: 494

Re: How to handle a large ETF purchase?

Name the ETF and I can tell you what I would do. There are other threads asking the same question, so let me see if I can find them. THere are so many threads, you should probably do the search yourself, I used low volume ETF orders as my search term. If trades are free, then practice with differen...
by Always passive
Mon Oct 09, 2017 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: How to handle a large ETF purchase?
Replies: 6
Views: 494

How to handle a large ETF purchase?

Can anyone help me understand how to handle a large purchase of a low volume (iShares) ETF? Is it as simple as setting the purchase order as a limit order, or it is necessary to make the purchase in multiple sessions?
by Always passive
Sun Oct 08, 2017 11:31 am
Forum: Investing - Help with Personal Investments
Topic: Tips versus basket of corporate bonds ETF for retiree
Replies: 12
Views: 342

Re: Tips versus basket of corporate bonds ETF for retiree

Thank you for the great answers. I need reassurance once in a while.
by Always passive
Sun Oct 08, 2017 10:02 am
Forum: Investing - Help with Personal Investments
Topic: Tips versus basket of corporate bonds ETF for retiree
Replies: 12
Views: 342

Re: Tips versus basket of corporate bonds ETF for retiree

...for sure I am losing about 1%+ annually... Can you explain what you mean here? Do your TIPS have negative yields? It sounds like the idea was/is a liability matching portfolio. Very likely the real yield is negative, but I don't understand why the ladder ends in 2026 already. Is it assumed retir...
by Always passive
Sun Oct 08, 2017 10:00 am
Forum: Investing - Help with Personal Investments
Topic: Tips versus basket of corporate bonds ETF for retiree
Replies: 12
Views: 342

Re: Tips versus basket of corporate bonds ETF for retiree

...for sure I am losing about 1%+ annually... Can you explain what you mean here? Do your TIPS have negative yields? No, they return inflation plus a modest yield (0.1 to 0.35%), but if I assume that the inflation stays around the Fed’s goal of 2%, I can lock over 1% more using the ibond (corporate...
by Always passive
Sun Oct 08, 2017 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Tips versus basket of corporate bonds ETF for retiree
Replies: 12
Views: 342

Re: Tips versus basket of corporate bonds ETF for retiree

Nothing wrong with diversification. But I would step back and ask yourself why you had TIPS in the first place. What is your overall situation and what are you seeking to get from your bond allocation. As I said, my goal has been to partially fund my retirement. This is by far not the entire bond p...
by Always passive
Sun Oct 08, 2017 9:31 am
Forum: Investing - Help with Personal Investments
Topic: Tips versus basket of corporate bonds ETF for retiree
Replies: 12
Views: 342

Tips versus basket of corporate bonds ETF for retiree

I am retired and long ago I built a ladder of individual TIPS to fund a meaningful part of my retirement. Currently my ladder covers annual individual TIPS from 2019 to 2026, with the idea to add a new TIPS bond annually to keep the ladder length constant. Then a while back, iShares came out with th...
by Always passive
Fri Oct 06, 2017 10:38 am
Forum: Investing - Theory, News & General
Topic: Research Affiliates: Starting Yields Matter To Future Returns
Replies: 6
Views: 860

Re: Research Affiliates: Starting Yields Matter To Future Returns

http://www.etf.com/sections/features-and-news/research-affiliates-starting-yields-matter-future-returns?nopaging=1 I came across this Research Affiliates article on etf.com. I think using historical average returns to make asset allocation decisions is a mistake. But I do believe historical standar...
by Always passive
Fri Oct 06, 2017 1:01 am
Forum: Investing - Theory, News & General
Topic: Research Affiliates: Starting Yields Matter To Future Returns
Replies: 6
Views: 860

Re: Research Affiliates: Starting Yields Matter To Future Returns

http://www.etf.com/sections/features-and-news/research-affiliates-starting-yields-matter-future-returns?nopaging=1 I came across this Research Affiliates article on etf.com. I think using historical average returns to make asset allocation decisions is a mistake. But I do believe historical standar...
by Always passive
Thu Oct 05, 2017 7:06 am
Forum: Investing - Help with Personal Investments
Topic: Converting from market cap to factor investing?
Replies: 1
Views: 144

Converting from market cap to factor investing?

Has anyone decided to begin allocating by factors (beyond the standard small cap and value)?
Many here invest in a world stock index. Now iShares offers ACWF, world stock multi factor. What about this ETF instead of VT or ACWI?
by Always passive
Wed Oct 04, 2017 1:55 am
Forum: Investing - Help with Personal Investments
Topic: A continuation of the discussion on the US market high valuation
Replies: 2
Views: 430

A continuation of the discussion on the US market high valuation

I found this interesting article in Bloomberg on US market high CAPE and the reversion to the mean issue.
Any comments?

https://www.bloomberg.com/view/articles ... mal-levels
by Always passive
Thu Sep 28, 2017 11:51 am
Forum: Investing - Help with Personal Investments
Topic: New Quicken problems!
Replies: 1
Views: 257

New Quicken problems!

I own Quicken 2017 and a day ago after I got in, I was asked to go through the process of creating a Quicken ID and password. Since then I have had only problems. I am ask to sign in repeatedly to get in and again when I want to download new security prices. Is anyone having similar problems and if ...
by Always passive
Tue Sep 26, 2017 10:47 pm
Forum: Investing - Theory, News & General
Topic: Research Affiliated Model Portfolios: ZERO % US stocks
Replies: 46
Views: 4657

Re: Research Affiliated Model Portfolios: ZERO % US stocks

Garland, FYI, in case you haven't seen it, here is an article by Michael Kitces from a few years ago looking at CAEP 10: https://www.kitces.com/blog/shiller-cape-market-valuation-terrible-for-market-timing-but-valuable-for-long-term-retirement-planning/. The correlation between CAEP 10 and real ret...
by Always passive
Tue Sep 26, 2017 3:07 pm
Forum: Investing - Theory, News & General
Topic: Research Affiliated Model Portfolios: ZERO % US stocks
Replies: 46
Views: 4657

Re: Research Affiliated Model Portfolios: ZERO % US stocks

What a coincidence, RA has issued a short document warning investors about the US equity market. Read it here...it is worth your time. https://www.researchaffiliates.com/en_us/publications/articles/634-ignoring-starting-yields-nabbing-this-usual-suspect-in-poor-investment-outcomes.html?evar36=eml_Ad...
by Always passive
Sun Sep 24, 2017 11:11 pm
Forum: Investing - Theory, News & General
Topic: Research Affiliated Model Portfolios: ZERO % US stocks
Replies: 46
Views: 4657

Re: Research Associates Model Portfolios: ZERO % US stocks

I think this is a ridiculous position, I don't get the "all or nothing" way of thinking. It would be rational to have a lighter than normal weighting of US Stocks in a portfolio because of valuations but to exclude them altogether just makes no sense to me. Arnott is essentially saying that he know...
by Always passive
Sun Sep 24, 2017 3:11 pm
Forum: Investing - Theory, News & General
Topic: Research Affiliated Model Portfolios: ZERO % US stocks
Replies: 46
Views: 4657

Research Affiliated Model Portfolios: ZERO % US stocks

Research Affiliated, the home of Rob Arnott, has a very neat website that displays asset classes' forecasts (see reference below) which I often review since much of its equity forecasting is based on Shiller's PE10 which I find one of the most reliable long term valuation tools. What has caught my a...
by Always passive
Sat Sep 23, 2017 11:51 pm
Forum: Personal Consumer Issues
Topic: Do you subscribe to digital newspapers?
Replies: 67
Views: 2974

Re: Do you subscribe to digital newspapers?

Only, and read them in my iPad no matter where I am in the world. Could anything be simpler?
by Always passive
Fri Sep 08, 2017 2:54 pm
Forum: Investing - Help with Personal Investments
Topic: Irish ETFs taxes on US equity dividends
Replies: 5
Views: 516

Re: Irish ETFs taxes on US equity dividends

My bank in Israel tells me that they DO NOT see that tax, meaning that that information is not passed to them. If that is the case, an Israeli investor could be paying double taxation. Pretty much. The 15% US dividend withholding tax is paid internally by an Ireland domiciled ETF, and so in effect ...
by Always passive
Fri Sep 08, 2017 2:53 pm
Forum: Investing - Help with Personal Investments
Topic: Irish ETFs taxes on US equity dividends
Replies: 5
Views: 516

Re: Irish ETFs taxes on US equity dividends

Assuming the discussion so far is based on Ireland domiciled ETFs with distributing dividends, wouldn't it be better for OP to choose ETFs with accumulating dividends (if Israel doesn't tax their dividends)? The US taxes 15% no matter whether they are distributing or accumulating and Israel has a 2...
by Always passive
Fri Sep 08, 2017 12:18 am
Forum: Investing - Help with Personal Investments
Topic: Irish ETFs taxes on US equity dividends
Replies: 5
Views: 516

Irish ETFs taxes on US equity dividends

For those that invest in Irish domiciled ETFs, I have a puzzling question. According to iShares and other sources, investments in US equities through Irish ETFs are subject to a 15% tax on dividends. My bank in Israel tells me that they DO NOT see that tax, meaning that that information is not passe...
by Always passive
Wed Aug 30, 2017 12:00 am
Forum: Investing - Theory, News & General
Topic: Rob Arnott: Dump US stocks buy EM
Replies: 65
Views: 5649

Re: Rob Arnott: Dump US stocks buy EM

Given that we are discussing allocation, i am curious to hear from people that are shifting away from US to EM. What is your current allocation?
To start, I am retired and mine is and has been for the past 2 years or so:
40% US
40% DW ex US
20% EM
With 30% Total Equity in portfolio.
by Always passive
Tue Aug 29, 2017 10:52 pm
Forum: Investing - Theory, News & General
Topic: Rob Arnott: Dump US stocks buy EM
Replies: 65
Views: 5649

Re: Rob Arnott: Dump US stocks buy EM

Arnott said; "You know, it’s almost impossible to forecast returns over the next year, but it’s surprisingly easy to do it over a longer time period, like 10 years." I could be eaten by a black bear by then. A black bear is worse than a black swan IMHO. This is Benjamin Graham talking. " in the sho...
by Always passive
Mon Aug 28, 2017 9:24 am
Forum: Investing - Help with Personal Investments
Topic: Does a "true" liability matching portfolio require 30 years of fixed income
Replies: 12
Views: 967

Re: Does a "true" liability matching portfolio require 30 years of fixed income

My approach has been to keep a 10 year TIPS ladder. The idea is that every year I buy a new TIPS (assuming positive returns - I would skip the year, or years, if my portfolio is going through a correction) to assure that I am funded for the next 10 years. I feel that TIPS are too expensive to develo...
by Always passive
Sat Aug 26, 2017 1:25 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 43
Views: 5694

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

Thank you for your help. Frankly the Israeli bank has very little experience with Irish ETFs, and I wonder if what they are doing is their interpretation, which i have my doubts if it is right. I am paying the taxes that I would be paying had a purchased a US domiciled ETF. This according to the US/...
by Always passive
Sat Aug 26, 2017 11:23 am
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 43
Views: 5694

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

In other words, if I understand well your point, one has to follow the US Israel tax treaty and not the Ireland US tax treaty when figuring out the dividend taxes. Am I correct? To be completely clear, we need to be very careful about specifics and terminology here. When figuring out your losses to...
by Always passive
Fri Aug 25, 2017 11:20 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 43
Views: 5694

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

Thank you TedSwippet, very educational. I suppose that your comments of the 25% tax apply also to Irish domiciled bond ETFs. I ask because the Ireland US tax treaty stipulate no taxes on dividends of bond ETFs. In other words, if I understand well your point, one has to follow the US Israel tax trea...
by Always passive
Fri Aug 25, 2017 2:55 pm
Forum: Investing - Help with Personal Investments
Topic: Avoid the dividend tax on foreign investors [Hong Kong]
Replies: 43
Views: 5694

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

Is it true that if incomes is taxed at source in the US, then buying ETFs domiciled in Ireland holding US stocks will result in double taxation as Ireland also has a 15% tax charged on dividend income? No. Ireland domiciled ETFs are specifically exempt from Irish dividend withholding tax. So a resi...
by Always passive
Thu Aug 24, 2017 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Rental car in Spain
Replies: 14
Views: 649

Re: Rental car in Spain

TravelGeek wrote:
Thu Aug 24, 2017 11:59 am
Another vote for a small car (Polo, Golf size). Hope you know how to drive stick shift ;)
I am old enough that when I learned to drive there were no automatics.
by Always passive
Thu Aug 24, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Rental car in Spain
Replies: 14
Views: 649

Re: Rental car in Spain

Thank you all. I will stay with the Polo.
by Always passive
Thu Aug 24, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Rental car in Spain
Replies: 14
Views: 649

Rental car in Spain

Silly question: I am renting a VW Polo in Barcelona for a 2 week trip ending in Bilbao. We are two people (wife and I) and I have been told by friends to get a bigger car, because the VW Polo is too small and not comfortable for long drives. A two week rental of the car is $350. A bigger car can rea...
by Always passive
Wed Aug 23, 2017 8:25 am
Forum: Investing - Theory, News & General
Topic: Vanguard Announces Plans To Launch Total Corporate Bond ETF
Replies: 41
Views: 6301

Vanguard Reveals Plans for New, Low-Cost Bond ETF

[Topic and reply merged into this existing thread - moderator prudent] News from Vanguard..... "Total market corporate bond ETF to be structured as a fund of funds Vanguard’s new ETF will be comprised of three existing Vanguard ETFs – the Vanguard Short-Term Corporate Bond ETF, Vanguard Intermediat...
by Always passive
Mon Aug 21, 2017 12:32 am
Forum: Investing - Theory, News & General
Topic: I own no international stocks. Can you guess why?
Replies: 167
Views: 13584

Re: I own no international stocks. Can you guess why?

You do not believe in Modern Portfolio Theory, the cornerstone of modern investing, and the basis for much of what we do in this forum.
by Always passive
Fri Aug 18, 2017 11:53 am
Forum: Investing - Theory, News & General
Topic: The Phillips Curve is not working!
Replies: 26
Views: 2796

Re: The Phillips Curve is not working!

I don't think you can forecast interest rates with any precision-- certainly not enough to call bond markets. You have to look at the employment rate of men and women 25-55 to get a real picture of what is going on. In the U.S. at least, the growth in the effective working age population — that is,...
by Always passive
Fri Aug 18, 2017 8:14 am
Forum: Investing - Theory, News & General
Topic: The Phillips Curve is not working!
Replies: 26
Views: 2796

Re: The Phillips Curve is not working!

Why is this important? Because the notion (and my fear) that intermediate term (5 to 7 year duration) bond funds will suffer due to the Fed's actions has not happened. In fact, bonds fund are doing rather well. What does that have to do with the Phillips Curve? You lost me. The Phillips Curve is a ...
by Always passive
Fri Aug 18, 2017 12:46 am
Forum: Investing - Theory, News & General
Topic: The Phillips Curve is not working!
Replies: 26
Views: 2796

The Phillips Curve is not working!

I just received what i think is a monthly email from Blackrock (iShares). What caught my attention is the concise explanation of why the historical relationship between low levels of unemployment and increase rates inflation (the famous Phillips curve) has been rather weak in this economy. The text....
by Always passive
Thu Aug 17, 2017 7:21 am
Forum: Investing - Help with Personal Investments
Topic: Buy a put option for insurance
Replies: 0
Views: 240

Buy a put option for insurance

Has anyone used a put option to cover a significant drop in the market? I read recently that some investment companies buy long term put options (2-3 years) to manage risk. Although I do understand the concept, is there someone that has done it or is currently doing it? I would be interested in lear...
by Always passive
Mon Aug 14, 2017 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: ETF liquidity for long term investors
Replies: 2
Views: 387

ETF liquidity for long term investors

I hear that corporate bonds are not very liquid, thus in times of crisis the spread between bid and ask could become excessive. I wonder if this issue should be a concern for long term investors of corporate bond ETFs, such as VCIT or LQD. Can someone explain that to me.
by Always passive
Sun Aug 13, 2017 5:56 am
Forum: Personal Finance (Not Investing)
Topic: Why Worry About US Estate Tax for Non-Resident Aliens
Replies: 25
Views: 1904

Re: Why Worry About US Estate Tax for Non-Resident Aliens

It's not the 0.07% vs 0.04% expense ratio that is the problem. The problem is the double taxation of dividends in accumulating mutual funds traded in Europe. Before dividends from S&P 500 companies are reinvested into the S&P 500 index fund, at least 15% of the dividends are withheld by the US gove...