Search found 1508 matches

by Angst
Sun Feb 19, 2017 5:22 pm
Forum: Investing - Theory, News & General
Topic: 30 yr TIPS Auction Feb 16: real yield 1.1%?
Replies: 39
Views: 3582

Re: 30 yr TIPS Auction Feb 16: real yield 1.1%?

Yes, the yield came in at 0.923% as shown on the auction results PDF file . [1] Thanks #Cruncher, ... Which have you found to be the best predictor for the February new issue: last year's 30-yr TIPS secondary market yield or the real CMT rate? To paraphrase the Dos Equis spokesman , "I don't a...
by Angst
Fri Feb 17, 2017 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Web Site Down?
Replies: 98
Views: 3266

Re: Vanguard Web Site Down?

I'm in now.
by Angst
Fri Feb 17, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Web Site Down?
Replies: 98
Views: 3266

Re: Vanguard Web Site Down?

Vanguard wrote:"Your account information is temporarily unavailable..."

I'm glad it's not just my account.
by Angst
Tue Feb 14, 2017 4:04 pm
Forum: Investing - Theory, News & General
Topic: 30 yr TIPS Auction Feb 16: real yield 1.1%?
Replies: 39
Views: 3582

Re: 30 yr TIPS Auction Feb 16: real yield 1.1%?

... But as far as the Bloomberg page you refer to, Angst, it does not show a CMT rate. It is for a specific TIPS, the 1% coupon maturing February 2046. I think the rate of the 2046 TIPS is a good predictor of what the rate will be on the 2047 TIPS to be auctioned. I say this because the yields of t...
by Angst
Tue Feb 14, 2017 2:22 pm
Forum: Investing - Theory, News & General
Topic: 30 yr TIPS Auction Feb 16: real yield 1.1%?
Replies: 39
Views: 3582

Re: 30 yr TIPS Auction Feb 16: real yield 1.1%?

Secondary yield is now down to 0.95% so i'm hoping for 1.05% now at auction... Hi grok, I too am in for a 1/3 of my annual purchase. Rates appear to be climbing back up a bit today, which is promising. Where exactly were you looking last week for that 0.95% secondary yield? Angie Bloomberg Ok. Humo...
by Angst
Tue Feb 14, 2017 1:30 pm
Forum: Investing - Theory, News & General
Topic: 30 yr TIPS Auction Feb 16: real yield 1.1%?
Replies: 39
Views: 3582

Re: 30 yr TIPS Auction Feb 16: real yield 1.1%?

grok87 wrote:Secondary yield is now down to 0.95% so i'm hoping for 1.05% now at auction...

Hi grok,
I too am in for a 1/3 of my annual purchase. Rates appear to be climbing back up a bit today, which is promising. Where exactly were you looking last week for that 0.95% secondary yield?
Angie
by Angst
Mon Feb 13, 2017 5:18 pm
Forum: Personal Consumer Issues
Topic: 2 Days in Nashville - What to see
Replies: 16
Views: 956

Re: 2 Days in Nashville - What to see

Roberts on lower Broadway. If you want to hear session players covering old country, alt-country, etc. classics from as far back as the 50's to more recent times, you can't beat Roberts. No cover, great house bands, cheap food/beer... and the area is one of the most walkable for looking around at ni...
by Angst
Thu Feb 09, 2017 4:02 pm
Forum: Investing - Theory, News & General
Topic: Is it wise to buy I bonds yielding lower than TIPS?
Replies: 18
Views: 1466

Re: Is it wise to buy I bonds yielding lower than TIPS?

Given the purchase limits on I bonds it is a necessity that I bond purchases occur over an extended period of time. Given that, I doubt there is a meaningful concept of when to buy I bonds. A possible good idea is to buy the max every year, if I bonds are an asset you want in your portfolio. A &quo...
by Angst
Thu Feb 09, 2017 3:54 pm
Forum: Investing - Theory, News & General
Topic: Is it wise to buy I bonds yielding lower than TIPS?
Replies: 18
Views: 1466

Re: Is it wise to buy I bonds yielding lower than TIPS?

I'd at least suggest waiting until April when the new (effective in May) I bond fixed [emphasis added] rate will be announced. In mid-April, after the announcement of the Consumer Price Index figures for March, it will be possible to compute the inflation component for new I Bonds to be issued duri...
by Angst
Thu Feb 09, 2017 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Larry Swedroe on James Lange's podcast Retire Secure
Replies: 3
Views: 1006

Re: Larry Swedroe on James Lange's podcast Retire Secure

Also there is an interview with The Evidence Based Investor which you can read about here, including the foreward to Your Complete Guide to Factor Based Investing by Cliff Asness http://www.evidenceinvestor.co.uk/navigating-the-factor-zoo/ Hope you find them both helpful Larry [Snip...] and it feat...
by Angst
Thu Feb 09, 2017 9:45 am
Forum: Investing - Theory, News & General
Topic: Is it wise to buy I bonds yielding lower than TIPS?
Replies: 18
Views: 1466

Re: Is it wise to buy I bonds yielding lower than TIPS?

I'd at least suggest waiting until April when the new (effective in May) I bond fixed rate will be announced. And definitely think about what Nisi points out about the absence of volatility in the value of I bonds. If you're buying a 5-year TIPS for a liability 5 years out, no issue really, but if y...
by Angst
Wed Feb 08, 2017 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for a soon-to-be MLB draftee
Replies: 68
Views: 9593

Re: Advice for a soon-to-be MLB draftee

Revisiting this thread..... [Snip...] My proposed recommendation: $40,000: cash savings / high-yield savings account, which gives him some room for some splurge purchases. $55,000 each in FUSVX, FSTVX, FSIVX, FSITX . Leave it there and forget about. What are the deficiencies in that approach? Any o...
by Angst
Mon Jan 30, 2017 9:39 pm
Forum: Investing - Theory, News & General
Topic: PXSV is now super valuey (even more than RZV)
Replies: 31
Views: 4174

Re: PXSV is now super valuey (even more than RZV)

^ You're an honest man Nisi. Nothing hypothetical about that!
by Angst
Mon Jan 30, 2017 12:55 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Watch Concerns
Replies: 2
Views: 371

Re: Portfolio Watch Concerns

^ +1 Watch out! I do not rely on Vanguard's portfolio analysis tools. Certain funds are poorly matched to their actual international holdings. I've read a variety other complaints as well. I believe M* is a better place to go.
by Angst
Sun Jan 29, 2017 8:09 pm
Forum: Investing - Theory, News & General
Topic: BRK - thoughts on interesting stock
Replies: 66
Views: 6152

Re: BRK - thoughts on interesting stock

Here's the assertion: Most posters here do not consider BRK a no cost , tax-efficient, simple way to gain diversified factor exposure. No cost, seriously? Berkshire employees work for free, and Berkshire pays nothing for office space, network connections, photocopiers, etc. etc.? Expense ratio is j...
by Angst
Fri Jan 27, 2017 8:37 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1182
Views: 162558

Re: QSPIX - thoughts on interesting fund

Hope this is helpful Having sat in on the quarterly call on QSPRX, I thought a short summary might be helpful. Keep in mind the fund has many positions. Basically the fund had a small loss because MOM was -11%, offsetting the large gain from value which was +8%, Carry was positive I think about 3% ...
by Angst
Thu Jan 19, 2017 10:20 pm
Forum: Investing - Theory, News & General
Topic: Factor-Diversified Portfolio
Replies: 175
Views: 13890

Re: Factor-Diversified Portfolio


Robert,
if you would ever decide to expand upon your thoughts to the extent of writing a book, I think you'd have a lot of fans here who would look forward to reading it. You write quite well.
by Angst
Thu Jan 19, 2017 9:55 pm
Forum: Investing - Theory, News & General
Topic: TIPS are great in "theory." But real world...
Replies: 34
Views: 3462

Re: TIPS are great in "theory." But real world...

I know what my term life insurance will pay out if I die. What will TIPS pay if there is unexpected inflation? I'd call them a loose proxy for insurance but not call them insurance directly. It's not that clear cut IMO. And your replacement cost insurance will pay to rebuild your house after that f...
by Angst
Wed Jan 18, 2017 10:30 pm
Forum: Investing - Theory, News & General
Topic: TIPS are great in "theory." But real world...
Replies: 34
Views: 3462

Re: TIPS are great in "theory." But real world...

Sometimes I feel like BH posters are shoulders ahead of me when it comes to the underpinnings of the points being made in the threads stitched hereabouts in the fabric of our wonderful BH's domain, and I too struggle with this...

I'm sorry, I'm drinking coffee way too late into the night.
by Angst
Wed Jan 18, 2017 10:18 pm
Forum: Investing - Theory, News & General
Topic: Short Term TIPS in retirement portfolio
Replies: 23
Views: 1991

Re: Short Term TIPS in retirement portfolio

[snip...]although I am intrigued by the poster who said to liquidate the most overweighted positions (kind of rebalancing as you withdraw). Some might think that is too much in equities for a retiree in the withdrawal stage, but I am aggressive and sleep OK in bear markets. Vanguard's Target Retire...
by Angst
Wed Jan 18, 2017 2:06 pm
Forum: Investing - Theory, News & General
Topic: TIPS are great in "theory." But real world...
Replies: 34
Views: 3462

Re: TIPS are great in "theory." But real world...

By all means, your instincts are correct: Never invest in something you don't have a good understanding of. If you want to learn more, there is a lot of information out there. I suggest you avoid what is often just simplistic fear-mongering, and I'd read something more in depth than just a thread he...
by Angst
Wed Jan 18, 2017 11:31 am
Forum: Investing - Theory, News & General
Topic: An index isn't an index isn't an index...
Replies: 23
Views: 2508

Re: An index isn't an index isn't an index...

- I don't think it's useful to focus on comparing the CRSP to the S&P indexes - it's far less meaningful as the S&P is constituted by committee. - But the Russell, MSCI and Dow indexes are each, in aggregate purportedly total market cap-weighted indexes, like CRSP, and broken out by both cap...
by Angst
Wed Jan 18, 2017 10:08 am
Forum: Investing - Theory, News & General
Topic: An index isn't an index isn't an index...
Replies: 23
Views: 2508

Re: An index isn't an index isn't an index...

Bump... I can accept, somewhat blindly albeit, that the S&P selection process makes comparison with its indexes a little problematic, but the others? I'm curious what's going on. My emphasis below. Let me advertise another blog post from Barry, a short & sweet and especially striking post, a...
by Angst
Tue Jan 17, 2017 10:24 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1182
Views: 162558

Re: QSPIX - thoughts on interesting fund

I just find it very strange how confidently some people are posting "Here's a free lunch." Please show an actual quote where someone said this about alternatives Larry This can be easily addressed, at least as far as this thread is concerned, with the "search this topic" link at...
by Angst
Sat Jan 07, 2017 12:18 pm
Forum: Investing - Theory, News & General
Topic: "The 401k Problem We Refuse to Solve"
Replies: 49
Views: 4391

Re: "The 401k Problem We Refuse to Solve"

It's a good suggestion to buy tips in an ira. One problem is thAt for some people they are not tax advantaged in which cAse i struggle to recommend them. Agreed. Part of what I like about the idea of maxing the IRA annually from age 35 is how contributions will grow with inflation (roughly) as allo...
by Angst
Sat Jan 07, 2017 11:29 am
Forum: Investing - Theory, News & General
Topic: "The 401k Problem We Refuse to Solve"
Replies: 49
Views: 4391

Re: "The 401k Problem We Refuse to Solve"

Interpreted somewhat literally, this is basically an argument for the liability matching portfolio (LMP) approach advocated by Bernstein, Bodie, et al. in other words, start buying 30 year tips when you are say 35 years old and keep buying them for 30 years until you retire at age 65. Then you will...
by Angst
Sat Jan 07, 2017 10:44 am
Forum: Investing - Theory, News & General
Topic: Are Commodities Still a Good Portfolio Diversifier?
Replies: 51
Views: 2720

Re: Are Commodities Still a Good Portfolio Diversifier?

Larry,
Any chance you would want to weigh in with your current opinion on commodities? I haven't read you new book yet.
by Angst
Fri Jan 06, 2017 8:36 pm
Forum: Investing - Help with Personal Investments
Topic: Help me Choose 401k Funds
Replies: 7
Views: 439

Re: Help me Choose 401k Funds

I second what both Trev H and selters have suggested above. And not only meet your 4% match but try to maximize your 401k and then maximize your allowed IRA as well and use that as a baseline from which you can eventually begin considering investing taxable investments as well. Get used to automatic...
by Angst
Fri Jan 06, 2017 5:43 pm
Forum: Investing - Theory, News & General
Topic: Thoughts on ishares multifactor ETFs?
Replies: 16
Views: 1855

Re: Thoughts on ishares multifactor ETFs?

My only real beef with the iShares multifactor ETFs is AUM. These are at risk of eventual closure, I would think. Also you've got to account for the probability for a switch to a different index somewhere down the line, quite possibly to one I or others might not like as much. So I would hesitate t...
by Angst
Thu Jan 05, 2017 8:55 am
Forum: Investing - Help with Personal Investments
Topic: Choice Of Bond Funds For Retirees Late In Life
Replies: 11
Views: 1673

Re: Choice Of Bond Funds For Retirees Late In Life

Thank you for all the responses. I will be transferring some funds from intermediate bond funds and purchase the Short Term Investment Grade Fund from which I will withdraw necessary distributions such as RMDs. I'm sure you see this, but I'll point out that the duration of your entire bond portfoli...
by Angst
Tue Jan 03, 2017 10:22 pm
Forum: Investing - Help with Personal Investments
Topic: I-bonds
Replies: 28
Views: 3408

Re: I-bonds

By the way you do something to transfer the converted bonds over to be shown with all your other bonds so they are all in one place. I couldn't possibly tell you what the process is (it was fairly obtuse) but it is doable (google it or look at the help on the website) and definitely more convenient...
by Angst
Tue Jan 03, 2017 9:44 pm
Forum: Investing - Help with Personal Investments
Topic: I-bonds
Replies: 28
Views: 3408

Re: I-bonds

By the way you do something to transfer the converted bonds over to be shown with all your other bonds so they are all in one place. I couldn't possibly tell you what the process is (it was fairly obtuse) but it is doable (google it or look at the help on the website) and definitely more convenient...
by Angst
Tue Jan 03, 2017 9:04 pm
Forum: Investing - Help with Personal Investments
Topic: I-bonds
Replies: 28
Views: 3408

Re: I-bonds

Within the past 12 months, I encountered a lot of roadblocks trying to deal with paper I bonds, conversion of paper to electronic, etc. The process was unbelievable complicated and unnecessarily time consuming. I have no idea how an average investor deals with such complexity, and I feel for heirs ...
by Angst
Tue Jan 03, 2017 6:00 pm
Forum: Investing - Theory, News & General
Topic: 100% TIPS and 0% in Nominal Bonds?
Replies: 168
Views: 8924

Re: 100% TIPS and 0% in Nominal Bonds?

I'm way behind the arc of this thread and will probably remain there - too busy now to keep up - but I liked jalbert's responses and thought I'd toss in a few ¢ [Snip...] Some people believe in establishing an income floor to cover essential expenses. If you do this with a TIPs portfolio, you need t...
by Angst
Thu Dec 29, 2016 6:10 pm
Forum: Investing - Theory, News & General
Topic: How many of you invest 100% at Vanguard?
Replies: 118
Views: 7627

Re: How many of you invest 100% at Vanguard?

Oh... about 70 to 75% is at Vanguard, the remainder is split among the following: - TD Ameritrade -HSA - Utah 529/DFA - Treasury Direct - I Bonds/EE Bonds/TIPS Ladder - Fidelity - Spartan TSM - US Govt - Future SS (not included in above %) - Current Employer - Future pension (not included in above ...
by Angst
Thu Dec 29, 2016 7:00 am
Forum: Investing - Theory, News & General
Topic: How many of you invest 100% at Vanguard?
Replies: 118
Views: 7627

Re: How many of you invest 100% at Vanguard?

Oh... about 70 to 75% is at Vanguard, the remainder is split among the following: - TD Ameritrade -HSA - Utah 529/DFA - Treasury Direct - I Bonds/EE Bonds/TIPS Ladder - Fidelity - Spartan TSM - US Govt - Future SS (not included in above %) - Current Employer - Future pension (not included in above %...
by Angst
Mon Dec 26, 2016 9:09 pm
Forum: Investing - Theory, News & General
Topic: David Swensen says "never have anything weighted more than 30%"
Replies: 42
Views: 4411

Re: David Swensen says "never have anything weighted more than 30%"

Larry, Your recent post above in this thread got me thinking, and I started wondering about looking at the typical equity/bond ratio asset allocation people commonly focus on in their IPS with regard to your focus on factors. Is focusing on asset classes with regards to ones IPS passe these days? I....
by Angst
Wed Dec 21, 2016 9:34 pm
Forum: Investing - Theory, News & General
Topic: Fortune Article - Vanguard Flexes Its Muscle
Replies: 43
Views: 5437

Re: Fortune Article - Vanguard Flexes Its Muscle

KyleAAA wrote:Are we a cult? I believe the Wells Fargo factoid is correct.

There's a T-shirt in that somewhere.
"I drunk the Kool-Aid"
by Angst
Tue Dec 20, 2016 9:12 pm
Forum: Investing - Theory, News & General
Topic: TIP: record inflows but price is going down?
Replies: 32
Views: 2952

Re: TIP: record inflows but price is going down?

Future inflation expectations (and fear) have increased, and real (TIPS) rates have increased (30 yr from 0.71 to 1.14) since the election, so existing bonds (ETFs/funds) have dropped in value, but people are buying (inflows) to protect against future, increased expectations and fears. And good Bogl...
by Angst
Sat Dec 17, 2016 10:28 am
Forum: Investing - Theory, News & General
Topic: Which do you think is more likely to happen?
Replies: 27
Views: 2507

Re: Which do you think is more likely to happen?

1) A 20 year period in which a balanced portfolio of total world stock market index and bonds (60/40) averages negative real returns OR 2) Within the next 50 years gold loses almost all value. It's no longer seen as a "precious metal". It's value almost exclusively is from industrial usag...
by Angst
Fri Dec 16, 2016 9:20 am
Forum: Investing - Theory, News & General
Topic: Ellis: "Under 40 years old - 100% in Stocks"
Replies: 54
Views: 5735

Re: Ellis: "Under 40 years old - 100% in Stocks"

I haven't read the article, but I find these rules of thumb as somewhat useless, and borderline dumb. What if you're one to panic in a crash you've never experienced before? What if you're unlucky enough or so "qualified" in terms of the employment market that you lose your job and are out...
by Angst
Thu Dec 15, 2016 1:37 am
Forum: Investing - Theory, News & General
Topic: TIPS - Did you give up?
Replies: 476
Views: 61077

Re: TIPS - Did you give up?

Ah, I had a wonderful dinner, and all the while, #Cruncher was laying out the digits with clarity and in such an organized fashion as I would never have been able to pull off. Thank you so much! My overall takeaway - something I don't recall having heard discussed here before - is that generally spe...
by Angst
Wed Dec 14, 2016 7:53 pm
Forum: Investing - Theory, News & General
Topic: TIPS - Did you give up?
Replies: 476
Views: 61077

Re: TIPS - Did you give up?

And duration in a TIPS fund is with respect to real rates. In a treasury fund it's nominal rates. Are not real rates typically lower than nominal rates? And therefor, shouldn't their volatility be lower than nominal rates as well? That would ameliorate the implications of a TIPS fund's duration vis...
by Angst
Tue Dec 13, 2016 11:06 pm
Forum: Investing - Theory, News & General
Topic: TIPS - Did you give up?
Replies: 476
Views: 61077

Re: TIPS - Did you give up?

And duration in a TIPS fund is with respect to real rates. In a treasury fund it's nominal rates. Are not real rates typically lower than nominal rates? And therefor, shouldn't their volatility be lower than nominal rates as well? That would ameliorate the implications of a TIPS fund's duration vis ...
by Angst
Mon Dec 12, 2016 9:38 pm
Forum: Investing - Theory, News & General
Topic: Why risk slicing and dicing at all
Replies: 52
Views: 4490

Re: Why risk slicing and dicing at all

My reaction is "Why by equity (Beta) at all?" So, buy Treasuries. No, actually buy TIPS - now that's safety! I don't think there's anything safer. If you're willing to buy equity Beta, how do you justify that? And what's your split, 60/40? I view buying small cap value as an extension of l...
by Angst
Fri Dec 09, 2016 7:15 am
Forum: Investing - Theory, News & General
Topic: Vanguard's new "account overview" page... BOO!
Replies: 98
Views: 8670

Re: Vanguard's new "account overview" page... BOO!

Hmmm... I don't see the new ticker, etc. so at least mine has not changed yet. On the other hand, even the existing one is pretty large, but my browser lets me conviently change the size by just using <cntrl>- (smaller) or <cntrl>+, so it isn't a big deal to me. sandramjet has it right. <ctrl>- PJW...
by Angst
Thu Dec 08, 2016 11:09 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's new "account overview" page... BOO!
Replies: 98
Views: 8670

Re: Vanguard's new "account overview" page... BOO!

I'm surprised nobody else is griping. If not for this thread, I probably wouldn't have known. I login with a link that takes me straight to the balances and holdings page. Now, it has its own set of problems... don't get me started! But at least I'm missing out on the special edition/headline-forma...
by Angst
Thu Dec 08, 2016 10:07 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's new "account overview" page... BOO!
Replies: 98
Views: 8670

Re: Vanguard's new "account overview" page... BOO!

Wow, that is Screamin' large!! So, what's the logic where giant fonts are used at the overview page but not across the board? Are boomers unlikely to explore any farther than that? Just another example of dumb Vanguard IT formatting. Don't get me started!
by Angst
Thu Dec 08, 2016 2:33 pm
Forum: Investing - Theory, News & General
Topic: AQR - Alternative Thinking 4Q 2016: Superstar Investors
Replies: 22
Views: 1589

Re: AQR - Alternative Thinking 4Q 2016: Superstar Investors

No one says skill doesn't exist, and clearly Lynch had skill. But with that said, his alpha declined sharply over time, and it was greatest when he ran a private fund for the Johnsons and had very small amount of assets, and markets were less efficient and competition was much easier for whole vari...
by Angst
Thu Dec 08, 2016 12:57 pm
Forum: Investing - Theory, News & General
Topic: AQR - Alternative Thinking 4Q 2016: Superstar Investors
Replies: 22
Views: 1589

Re: AQR - Alternative Thinking 4Q 2016: Superstar Investors

What's happened is that the academic research has effectively converted what was once alpha (skill) into beta (or loading on a factor) which is a commodity. One you can charge a lot for because it's a scarce resource, the other should be relatively cheap as it's a commodity. Larry, I'm confused - m...

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