Search found 6178 matches

by Doc
Fri May 27, 2016 9:50 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Customer Service
Replies: 151
Views: 11154

Re: Vanguard Customer Service

<snipped>Has anyone else had issues converting to Admiral shares? I don’t see this as being worth leaving Vanguard over, but it is really irritating. That's UNBELIEVABLY frustrating. Sorry to even read it. I've not had a problem like that. Keep escalating. I had the opposite situation last year. I ...
by Doc
Fri May 27, 2016 8:10 am
Forum: Investing - Theory, News & General
Topic: Vanguard service quality going down below expectations
Replies: 14
Views: 3193

Re: Vanguard service quality going down below expectations

Dieharder,

Goggle "Ascensus Vanguard"
by Doc
Thu May 26, 2016 5:54 am
Forum: Investing - Theory, News & General
Topic: Vanguard service quality going down below expectations
Replies: 14
Views: 3193

Re: Vanguard service quality going down below expectations

Dieharder wrote:I have to say they do not sound professional at all on the phone, they all sound like inexperienced and junior staff.

Get names and look up experience on FINRA - Broker Check. Takes 20 seconds if you are holding phone and typing with one hand.
by Doc
Wed May 25, 2016 7:44 pm
Forum: Investing - Help with Personal Investments
Topic: Monsanto-BayerAG
Replies: 19
Views: 1529

Re: Monsanto-BayerAG

neilpilot, that is not my quote. However, bio-engineered food crops are outlawed or at least frowned upon in Europe. If these product were to be produced by a German firm that might change and the growth potential could be very large. If the buyout was a stock swap I would grab it. If it's a cash of...
by Doc
Wed May 25, 2016 4:35 pm
Forum: Investing - Theory, News & General
Topic: New Department of Labor Fiduciary Rules Nixed
Replies: 4
Views: 894

New Department of Labor Fiduciary Rules Nixed

Senate rejects fiduciary rule; Obama vows to veto The Senate voted Tuesday to disapprove and nullify the new fiduciary rule released by the Department of Labor, by a vote of 56-41, along party lines. The House of Representatives passed a similar measure on April 28, also along party lines. http://w...
by Doc
Wed May 25, 2016 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: Monsanto-BayerAG
Replies: 19
Views: 1529

Re: Monsanto-BayerAG

Monsanto has quite an interesting history going back to 1901. The company today with symbol MON is actually the New Monsanto which was a spin-off from Pharmacia. I worked for Monsanto back in the days when they wanted to acquire a pharmaceutical house because they want to expand into higher margin ...
by Doc
Wed May 25, 2016 1:56 pm
Forum: Investing - Theory, News & General
Topic: "Vanguard converting mutual fund accounts to brokerage?
Replies: 400
Views: 70449

Re: "Vanguard converting mutual fund accounts to brokerage?

automatically reinvested into a different Vanguard fund. If I combine my accounts, that will no longer be possible. The dividends and capital gains would transfer to the MM settlement fund, and then I would need to manually reinvest them into the other fund. Having started the conversion plan, I be...
by Doc
Wed May 25, 2016 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Customer Service
Replies: 151
Views: 11154

Re: Vanguard Customer Service

Leif wrote:It is like insurance. You don't know how good it is until you need it. Hopefully the problems we have encountered are growth pains and will be resolved. The jury is still out.

No it's a hung jury. :annoyed
by Doc
Tue May 24, 2016 10:37 am
Forum: Investing - Theory, News & General
Topic: OMG - The Tell Tale Chart - '08 & the Fed
Replies: 11
Views: 1573

Re: OMG - The Tell Tale Chart - '08 & the Fed

Although ruralavalon is correct to challenge goldenbb's statement that the money market funds almost all broke the buck in 2008, it is very likely that there would have been total panic and chaos and many more money market funds breaking the buck if the government had not taken the unprecedented st...
by Doc
Tue May 24, 2016 9:38 am
Forum: Investing - Theory, News & General
Topic: OMG - The Tell Tale Chart - '08 & the Fed
Replies: 11
Views: 1573

Re: OMG - The Tell Tale Chart - '08 & the Fed

goldenbb wrote:Were you investing back then? ... but this is a huge reason why I completely quit investing after '08 and had everything parked mostly in cash ...


Yes I was investing back then and I using as much cash from MM accounts and selling bonds that I could to buy more equities at bargain prices. :beer
by Doc
Tue May 24, 2016 9:01 am
Forum: Investing - Theory, News & General
Topic: OMG - The Tell Tale Chart - '08 & the Fed
Replies: 11
Views: 1573

OMG - The Tell Tale Chart - '08 & the Fed

Came across this chart that most of us have access to but few of us ever look. A money market fund annual total returns for the last ten years: http://s33.postimg.org/jijguo2pr/Capture.jpg imgurl We all know that interest rates have been very low due to Fed action since the '08 crisis but we get so ...
by Doc
Mon May 23, 2016 9:22 am
Forum: Investing - Theory, News & General
Topic: "Can Anything Stop Vanguard?"
Replies: 50
Views: 7315

Re: "Can Anything Stop Vanguard?"

For the record... I have never had any problems with service. At times their website seems like it could be improved, but then as I got used to it... I have no issues with that. Many people have no problems and others have many. I wonder if the difference is due to whether there is a difference bet...
by Doc
Sun May 22, 2016 6:38 pm
Forum: Investing - Theory, News & General
Topic: "Can Anything Stop Vanguard?"
Replies: 50
Views: 7315

Re: "Can Anything Stop Vanguard?"

I'm pretty sure (at least that I've read insinuations that) Vanguard operates in a similar manner, with some funds—read: the active ones, which are more expensive—effectively subsidizing others. The whole "at cost" thing is not at a per-fund level, or is it? I think it has to be at the pe...
by Doc
Sun May 22, 2016 11:07 am
Forum: Investing - Theory, News & General
Topic: "Can Anything Stop Vanguard?"
Replies: 50
Views: 7315

Re: "CAN ANYTHING STOP VANGUARD?"

I don't think there is any doubt Vanguard is behind on the technology curve and knows it. They are still trying to combine brokerage and mutual fund accounts. Now their products like mutual funds and ETFs are a different story as they are excellent but no longer have a significant ER advantage over...
by Doc
Sun May 22, 2016 10:57 am
Forum: Investing - Theory, News & General
Topic: "Can Anything Stop Vanguard?"
Replies: 50
Views: 7315

Re: "CAN ANYTHING STOP VANGUARD?"

Does anyone on the forum work for Vanguard in IT? I'm interested in coming to work for them to try and help fix some of the IT issues (and because I'd like to move back to PA). Would like to get an insider's perspective before I make any serious applications. I looked at their job postings but some...
by Doc
Thu May 19, 2016 9:22 am
Forum: Investing - Theory, News & General
Topic: Vanguard Sweep Account Changes
Replies: 3
Views: 741

Vanguard Sweep Account Changes

The new Federal regs for money market funds went into effect in April as far as I know. The basic aspects of these rules were discussed in a prior thread. https://www.bogleheads.org/forum/viewtopic.php?f=10&t=178623 Vanguard decided it was necessary to change our sweep accounts to the Federal Mo...
by Doc
Wed May 18, 2016 10:11 am
Forum: Investing - Theory, News & General
Topic: Investing passively in inefficient markets
Replies: 11
Views: 897

Re: Investing passively in inefficient markets

The problem is not that you can't weed out (to an extent) the problem is that the cost of doing so for the retail investor is too high (and there's no way of knowing before the fact which managers are good at it). So there's no point taking on diversifiable risk (ie stock picking). When I see hard ...
by Doc
Wed May 18, 2016 9:34 am
Forum: Investing - Theory, News & General
Topic: Are total returns calculated correctly during decumulation?
Replies: 4
Views: 541

Re: Are total returns calculated correctly during decumulation?

However, I've always been uncomfortable when discussions treat accumulation and decumulation in the same light. You are using the wrong metric. The correct metric is Internal Rate of Return (IRR) which accounts for the time and amount of all the cash flows both positive and negative. NPV= ∑ {Period...
by Doc
Tue May 17, 2016 5:36 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Customer Service Issues
Replies: 81
Views: 6130

Re: Vanguard Customer Service Issues

Da5id wrote: I'd assume that Vanguard puts their better trained folks on the account levels with more money ...

That's what it says in the "what you get". But it ain't necessarily so.
by Doc
Tue May 17, 2016 10:28 am
Forum: Investing - Theory, News & General
Topic: Vanguard Customer Service Issues
Replies: 81
Views: 6130

Re: Vanguard Customer Service Issues

FWIW I'm a 15 yr Vanguard customer and I've never had an issue that wasn't addressed to my satisfaction. FWIW I'm also a 15 yr Vanguard customer and I am averaging an issue that wasn't addressed to my satisfaction about once a year. But that is misleading. The customer service problems started in 2...
by Doc
Mon May 16, 2016 5:27 pm
Forum: Investing - Theory, News & General
Topic: Bond Index Funds - The turning tide from active
Replies: 45
Views: 3568

Re: Bond Index Funds - The turning tide from active

If one is interested in a similar asset allocation to VBILX but with a shorter duration, would a combination of VBTLX 60% and VFIDX 40% accomplish that goal? It would be 47% corporate, but not sure what the rest would be. Just "dilute" the intermediate term index with the short term index...
by Doc
Mon May 16, 2016 1:54 pm
Forum: Investing - Theory, News & General
Topic: Bond Index Funds - The turning tide from active
Replies: 45
Views: 3568

Re: Bond Index Funds - The turning tide from active

I assume you are talking about the TBM index. The cons for TBM include: per Swedroe: MBS, long bonds, and intermediate corporates per Bogle: Too much in Treasuries. Passive but not index funds and other index funds can eliminate some of these "cons". I was talking about VBILX - it does ha...
by Doc
Mon May 16, 2016 12:06 pm
Forum: Investing - Theory, News & General
Topic: Roth 401(k) in a 28% bracket thoughts
Replies: 14
Views: 1767

Re: Roth 401(k) in a 28% bracket thoughts

That is why I like the concept of diversification of retirement accounts, with having some $ in taxable, tax deferred and tax free accounts. The actual mix that will net the most return with the least taxes is unknown, so all you can do is make your best guess and hope you are close . The thing is ...
by Doc
Mon May 16, 2016 11:45 am
Forum: Investing - Theory, News & General
Topic: Bond Index Funds - The turning tide from active
Replies: 45
Views: 3568

Re: Bond Index Funds - The turning tide from active

Is 6.5 years v/s 5.5 years really that much of a concern? Doesn't the pros of the fund outweigh this con? Also, VFIDX has less than 10% in government bonds - that is much bigger problem than the duration, isn't it? I assume you are talking about the TBM index. The cons for TBM include: per Swedroe:...
by Doc
Mon May 16, 2016 11:13 am
Forum: Investing - Theory, News & General
Topic: Bond Index Funds - The turning tide from active
Replies: 45
Views: 3568

Re: Bond Index Funds - The turning tide from active

Is any one concerned with the Intermediate Bond Index's (VBILX) longer duration of 6.5 years vs. 5.5 for the Intermediate Investment Grade (VFIDX) and 5.8 for Total Bond Index (VBTLX) in view of the possibility of rising rates that would lower the NAV (at least temporarily)? If not concerned, why n...
by Doc
Mon May 16, 2016 11:09 am
Forum: Investing - Theory, News & General
Topic: Geographic breakdown of S&P 500 sales
Replies: 15
Views: 1587

Re: Geographic breakdown of S&P 500 sales

Another question is how much revenue of European firms comes from the US - think Nestle, Royal Dutch Shell, GLAXOSMITHKLINE. It was about 18% in 2014 (including all of North America, blue in chart below) — far less than the 27% of revenues they received from the emerging economies (in red). http://...
by Doc
Mon May 16, 2016 10:51 am
Forum: Investing - Theory, News & General
Topic: Roth 401(k) in a 28% bracket thoughts
Replies: 14
Views: 1767

Re: Roth 401(k) in a 28% bracket thoughts

I think this tradeoff is too close to call, has too many qualifications and applies to only a small fraction of the readers. Changing the WIKI may confuse the issue for those that don't fit into the restraints. Without going into the WIKI's current current wording a qualification something like &quo...
by Doc
Mon May 16, 2016 9:33 am
Forum: Investing - Theory, News & General
Topic: Bond Index Funds - The turning tide from active
Replies: 45
Views: 3568

Re: Bond Index Funds - The turning tide from active

For the intermediate term bond fund (VBILX), surely there is no way as of April 30 that there was 58% us government, because the breakdown says 53% US government and 3% "AAA". Even if the 3% AAA is somehow US government by another name, is there any obligation that is really US government...
by Doc
Mon May 16, 2016 9:12 am
Forum: Investing - Theory, News & General
Topic: Geographic breakdown of S&P 500 sales
Replies: 15
Views: 1587

Re: Geographic breakdown of S&P 500 sales

Another question is how much revenue of European firms comes from the US - think Nestle, Royal Dutch Shell, GLAXOSMITHKLINE. In my opinion you don't get a whole lot of diversification from a Foreign large cap, currency hedged fund. If you want diversification you get more bang for your buck from a f...
by Doc
Mon May 16, 2016 8:55 am
Forum: Investing - Theory, News & General
Topic: Bond Index Funds - The turning tide from active
Replies: 45
Views: 3568

Re: Bond Index Funds - The turning tide from active

They don't diverge. They both say U.S. Government bonds are 53%. The other 5% in M* description is from "other" government sources- not sure what that means- possibly foreign governments? Part of the difference is how government sponsored enterprises like Fannie and Freddie are classified...
by Doc
Mon May 16, 2016 6:53 am
Forum: Investing - Theory, News & General
Topic: Bond Index Funds - The turning tide from active
Replies: 45
Views: 3568

Re: Bond Index Funds - The turning tide from active

They don't diverge. They both say U.S. Government bonds are 53%. The other 5% in M* description is from "other" government sources- not sure what that means- possibly foreign governments? Part of the difference is how government sponsored enterprises like Fannie and Freddie are classified...
by Doc
Sun May 15, 2016 8:06 am
Forum: Investing - Theory, News & General
Topic: I Bond rates for May 1 announced
Replies: 65
Views: 9737

Re: I Bond rates for May 1 announced

I suspect that the amount of I bonds and EE bonds issued as a percentage of public debt is tiny. It wouldn't surprise me if the savings bond program (with current limits) is more of a PR move to benefit small savers as opposed to a serious way of financing the public debt. Your statement is financi...
by Doc
Sat May 14, 2016 6:33 am
Forum: Investing - Theory, News & General
Topic: Vanguard IRA account - partial execution
Replies: 11
Views: 1940

Re: Vanguard IRA account - partial execution

crefwatch wrote:The real issue here is the change in the order, not in the partial executions.

Right, David and I got off on a side track.
by Doc
Sat May 14, 2016 5:01 am
Forum: Investing - Theory, News & General
Topic: Vanguard IRA account - partial execution
Replies: 11
Views: 1940

Re: Vanguard IRA account - partial execution

Each method has its pros and cons but both avoid the partial fill problem.
by Doc
Thu May 12, 2016 9:54 am
Forum: Investing - Theory, News & General
Topic: Vanguard IRA account - partial execution
Replies: 11
Views: 1940

Re: Vanguard IRA account - partial execution

Called Vanguard. They refused to waive the second fee. However, am told that for a single order with multiple trades - as long as the trades occur on the same day, then Vanguard will only charge once. To clarify, my experience was not with trying to get the extra commision waived. I was trying to f...
by Doc
Thu May 12, 2016 9:11 am
Forum: Investing - Theory, News & General
Topic: Taxable Account - Bonds - Diversification vs. Tax
Replies: 47
Views: 5686

Re: Taxable Account - Bonds - Diversification vs. Tax

I'm not yet withdrawing from my investments, and since I've not yet sold bonds to rebalance , in taxable it's easier to rebalance with higher yield*. When your annual contributions are a significant part of your total portfolio it is possible to re balance with contributions and directing portfolio...
by Doc
Wed May 11, 2016 3:12 pm
Forum: Investing - Theory, News & General
Topic: Vanguard IRA account - partial execution
Replies: 11
Views: 1940

Re: Vanguard IRA account - partial execution

I had this happen in an IRA when I did not have enough $'s to cover the extra commission. A phone call resulted in laughter and a waive of 2nd commission. Not Vanguard. :D
by Doc
Wed May 11, 2016 2:58 pm
Forum: Investing - Theory, News & General
Topic: Vanguard IRA account - partial execution
Replies: 11
Views: 1940

Re: Vanguard IRA account - partial execution

If you place a limit order and then change it after a partial fill in my experience it is industry standard that you will incur multiple fees for each transaction. To avoid this possibility you should use "fiil or kill" trade type.
by Doc
Wed May 11, 2016 12:48 pm
Forum: Investing - Theory, News & General
Topic: Taxable Bonds in Taxable Accounts
Replies: 16
Views: 2037

Re: Taxable Bonds in Taxable Accounts

Vanguard has one indexed muni fund, the newish VTEB/VTEAX/VTEBX Vanguard Tax-Exempt Bond Index Fund/ETF. All of the other Vanguard muni funds are lightly-managed active funds with index-like expense ratios, including the referenced Vanguard Intermediate-Term Tax Exempt. Thanks for the correction. I...
by Doc
Wed May 11, 2016 11:55 am
Forum: Investing - Theory, News & General
Topic: Why are state-specific bond funds often long?
Replies: 22
Views: 2507

Re: Why are state-specific bond funds often long?

... but am a bit hesitant because it is a long bond fund, and everyone on this forum always suggests to stick to intermediate bond funds (ie. Vanguard Intermediate Term Tax Exempt) ... Just as a point of reference Vanguard Intermediate-Term Tax-Exempt Fund has almost 50% long bonds according to Mor...
by Doc
Wed May 11, 2016 11:50 am
Forum: Investing - Theory, News & General
Topic: Long bonds in portfolio
Replies: 6
Views: 1139

Re: Long bonds in portfolio

As others have stated I don't see much virtue in long bonds for a retiree with the exception perhaps of a liability matching portfolio (LMP) using a TIPS ladder. The fact that TBM contains upwards of 12% long bonds is another reason why TBM is not the be all and end all for many of us especially ret...
by Doc
Wed May 11, 2016 11:42 am
Forum: Investing - Theory, News & General
Topic: Taxable Bonds in Taxable Accounts
Replies: 16
Views: 2037

Re: Taxable Bonds in Taxable Accounts

I think that Larry S was saying the other day that he has bailed out of the 9 problem states completely. I would bet that VG is gradually doing the same thing. True but the details page for Intermediate Tax-Exempt includes exposure to these states which Mr. Swedroe is avoiding: Adding to what Whaka...
by Doc
Wed May 11, 2016 9:54 am
Forum: Investing - Theory, News & General
Topic: Taxable Account - Bonds - Diversification vs. Tax
Replies: 47
Views: 5686

Re: Taxable Account - Bonds - Diversification vs. Tax

Treasuries have an additional benefit over both munis and corporates because they are much more liquid, and because they tend to rise when everything else falls .) That's something that often gets lost when we get into these "alternate" fixed income discussions. Here's a ten year price ch...
by Doc
Tue May 10, 2016 10:13 am
Forum: Investing - Theory, News & General
Topic: Taxable Account - Bonds - Diversification vs. Tax
Replies: 47
Views: 5686

Re: Taxable Account - Bonds - Diversification vs. Tax

As far as muni's are concerned the answer is none. If you belive that the bond market is efficient then the muni's are priced with regard to their risk and if they are yielding more after tax than similar duration nominal Treasuries then the muni's must be more risky. . The above doesn't make sense...
by Doc
Tue May 10, 2016 7:52 am
Forum: Investing - Theory, News & General
Topic: Taxable Account - Bonds - Diversification vs. Tax
Replies: 47
Views: 5686

Re: Taxable Account - Bonds - Diversification vs. Tax

Swedroe was okay with an Intermediate Gov't/Credit index? I thought he eschewed corporates except for short-term, highly rated, non-callable issues. Have the book but haven't looked at it in a while. Right, I don't do everything that Swedroe recommends. :) Our AA target is 40/60 now. If it was more...
by Doc
Mon May 09, 2016 2:46 pm
Forum: Investing - Theory, News & General
Topic: NY Federal Reserve President Signals Higher US Interest Rates
Replies: 26
Views: 2518

Re: NY Federal Reserve President Signals Higher US Interest Rates

The Fed needs to have some "room" to juice the economy if they want to . With interest rates at zero they have little "dry powder". Gettin the rate up a little gives them some wiggle room. In an interview on Friday , Mr. Dudley said he foresaw continued growth despite bumps in th...
by Doc
Mon May 09, 2016 8:35 am
Forum: Investing - Theory, News & General
Topic: Taxable Account - Bonds - Diversification vs. Tax
Replies: 47
Views: 5686

Re: Taxable Account - Bonds - Diversification vs. Tax

I agree with breaking up Total Bond, as I noted before, though I don't use all the components. But the question I think abuss was asking still remains. What is the largest percentage of munis one should have in their bond portfolio? At some point in your scenario, if we take it far enough with a po...
by Doc
Sun May 08, 2016 5:06 pm
Forum: Investing - Theory, News & General
Topic: Mortgage Backed Securities Credit Risk and Default
Replies: 1
Views: 207

Re: Mortgage Backed Securities Credit Risk and Default

To review, an MBS is a security, created through the process of securitization, in which the underlying assets are loans made to individuals and companies who are using the funds to purchase buildings and homes. The mortgages are secured to the lender by the properties purchased by the borrowers, a...
by Doc
Sun May 08, 2016 4:58 pm
Forum: Investing - Theory, News & General
Topic: Sharpe's "Arithmetic of Active Management" explained very well
Replies: 10
Views: 1123

Re: Sharpe's "Arithmetic of Active Management" explained very well

In the paper linked on the previous thread (Sharpe's talk from 2002), he said specifically that one must pick a market first . and in the paper I cited from 1991 Of course, certain definitions of the key terms are necessary. First a market must be selected -- the stocks in the S&P 500, for exam...

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