Search found 3707 matches

by JoMoney
Fri Jan 20, 2017 2:55 pm
Forum: Investing - Help with Personal Investments
Topic: 0.00% Fees?
Replies: 4
Views: 775

Re: 0.00% Fees?

I'm sure there are expenses, they probably either don't count it as having an "expense ratio" (since it's not a 'Registered Investment Company' mutual fund), or the equivalent 'expense ratio' is less than .01%. My workplace 401k has commingled trusts similar to this offered at what they st...
by JoMoney
Wed Jan 18, 2017 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Roll call Warren Buffet 90/10 portfolio
Replies: 58
Views: 7285

Re: Roll call Warren Buffet 90/10 portfolio

I stumbled upon this paper and thought it was interesting. I'm not sure if reviving an old thread is appropriate, but this seemed like a reasonable place to post a link to it if others are interested " Buffett’s Asset Allocation Advice: Take It … with a Twist " http://web.iese.edu/JEstrada...
by JoMoney
Wed Jan 18, 2017 1:51 am
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 5272

Re: What monetary value has your education provided you?

I started working in IT full time before graduating college. My employer(s) paid for/reimbursed all my educational expenses while I went to school part time. It took me 8 years before I graduated while going to school part time. There is a very strong possibility that I would be in the exact same po...
by JoMoney
Tue Jan 17, 2017 12:17 am
Forum: Investing - Theory, News & General
Topic: VBR higher p/e than VTI & lower growth
Replies: 17
Views: 1487

Re: VBR higher p/e than VTI & lower growth

Here is some PE data I have periodically lifted from the Vanguard site: ... The VBR pe is only about 10% above the May 2011 level. Also bonds are quite a bit lower yields (higher bond PE's). Consider how much higher it is relative to the levels before the SCV and factor fund hype over the past deca...
by JoMoney
Fri Jan 13, 2017 10:06 am
Forum: Investing - Help with Personal Investments
Topic: [Help Evaluating Legal & General S&P 500® Collective Investment Trust Fund Class A]
Replies: 16
Views: 715

Re: [Help Evaluating Legal & General S&P 500® Collective Investment Trust Fund Class A]

As already mentioned, CIT's operate like mutual funds but rather than being organized as a " Regulated Investment Company " subject to regulation by the U.S. Securities and Exchange Commission , they're instead setup as a Trust subject to regulation by the Office of the Comptroller of the ...
by JoMoney
Tue Jan 10, 2017 3:52 am
Forum: Investing - Help with Personal Investments
Topic: To those with a pension...
Replies: 52
Views: 5928

Re: To those with a pension...

(B) - I'm more comfortable having a large stock allocation knowing I have the 'fixed income' the pension (albeit small) will provide.
by JoMoney
Mon Jan 09, 2017 10:33 am
Forum: Investing - Theory, News & General
Topic: "How Market Crashes Happen"
Replies: 9
Views: 1201

Re: "How Market Crashes Happen"

I thought this Credit Suisse document I found linked from there pretty interesting: https://doc.research-and-analytics.csfb.com/docView?language=ENG&format=PDF&sourceid=em&document_id=x745112&serialid=knrGGNw%2bo620toTTx96qBQ%3d%3d ... The investors leaving active managers are likely...
by JoMoney
Mon Jan 09, 2017 10:14 am
Forum: Personal Consumer Issues
Topic: Ways to charge money on Credit Card
Replies: 21
Views: 1982

Re: Ways to charge money on Credit Card

-Pay income taxes ( https://www.irs.gov/uac/pay-taxes-by-credit-or-debit-card ) -Some bills can be paid by credit card, some will allow to be paid in excess of the amount owed (i.e. my phone bill) so as to have a credit that rolls over to future bills -Buy gift cards (suggest you only do so for plac...
by JoMoney
Thu Jan 05, 2017 8:13 am
Forum: Investing - Theory, News & General
Topic: Why S & P 500 fund is safer than Total Stock Market fund
Replies: 40
Views: 5153

Re: Why S & P 500 fund is safer than Total Stock Market fund

I'm a fan of the S&P 500, but trying to distinguish between the risks of S&P500 and the "Total Stock Market" is a bit ridiculous. They're almost the same thing. The S&P500 is slightly more concentrated in the larger, "leading companies", which tend to have much higher...
by JoMoney
Wed Jan 04, 2017 1:53 am
Forum: Personal Consumer Issues
Topic: Domestic Overnight Letter
Replies: 13
Views: 1179

Re: Domestic Overnight Letter

Limits to arbitrage, don't know how you would arbitrage this price difference. But there are lots of other issues as well, namely that a majority of the business and price setting done is on corporate accounts which is significantly different than dealing with one-off consumer shipping. Dealing with...
by JoMoney
Tue Jan 03, 2017 11:59 pm
Forum: Investing - Help with Personal Investments
Topic: Any Buffett fans here?
Replies: 35
Views: 3235

Re: Any Buffett fans here?

I am a fan of Warren Buffett as a businessman and investor. Don't care for his politics. I have learned a lot from him but I don't have my mini-Berkshire-Hathaway yet! :wink: I think it's interesting that him and Charlie Munger seem to share a great deal in their thinking, but still contrasting bel...
by JoMoney
Sun Jan 01, 2017 12:59 pm
Forum: Personal Consumer Issues
Topic: Scenic train trip?
Replies: 21
Views: 1627

Re: Scenic train trip?

The Amtrak California "Pacific Surfliner" is a nice scenic mostly coastal train trip... I've been told that most U.S. train trips are not that nice though, and rather un-scenic unless you like to look at desert dirt and poor people's back yards. Many Amtrak trips will have you getting off ...
by JoMoney
Sun Jan 01, 2017 12:30 pm
Forum: Investing - Theory, News & General
Topic: Performance of International
Replies: 11
Views: 1612

Re: Performance of International

... WHICH IS IT? If international is doing poorly lately, (and US stocks are obviously doing very well lately), that seems to imply that they do perform differently, and that there is a diversification benefit. How can there be this argument that US has plenty of International in it, so you're cove...
by JoMoney
Sun Jan 01, 2017 10:34 am
Forum: Investing - Help with Personal Investments
Topic: Any Buffett fans here?
Replies: 35
Views: 3235

Re: Any Buffett fans here?

With the USD down? Does International look cheap? What has Warren Buffett said about international stocks? I am not a Buffett fan and don't follow him closely, but I can't recall him ever saying anything very favorable about international stocks. If you can, I'd like to have the actual quotation. “...
by JoMoney
Sat Dec 31, 2016 10:23 am
Forum: Investing - Help with Personal Investments
Topic: Any Buffett fans here?
Replies: 35
Views: 3235

Re: Any Buffett fans here?

...Does valuation like techniques still work there? Is it an illusion etc? Are there markets where the logical equivalent of stock picking still can be done? ... I believe valuation works, the problem for the large majority of investors is if you expect to use valuation techniques to garner you abo...
by JoMoney
Sat Dec 31, 2016 10:14 am
Forum: Investing - Help with Personal Investments
Topic: Any Buffett fans here?
Replies: 35
Views: 3235

Re: Any Buffett fans here?

I'm a big fan of Warren Buffett
Warren Buffett wrote:" ... I recommend John Bogle's books -- any investor in funds should read them. They have all you need to know."
http://www.thebuffett.com/quotes/Invest ... roach.html
by JoMoney
Sat Dec 31, 2016 5:59 am
Forum: Personal Finance (Not Investing)
Topic: Delayed Gratification In Life & its fallacies
Replies: 56
Views: 5716

Re: Delayed Gratification In Life & its fallacies

I think the "fallacy" is believing you have to spend money to enjoy good things, friends, family, etc... The best things in life aren't 'things'. Travel can be an expensive luxury, but not everybody likes it. Personally I've managed to do quite a bit of traveling through work, enjoyed it, ...
by JoMoney
Fri Dec 30, 2016 10:04 am
Forum: Investing - Theory, News & General
Topic: "Maybe instead of chanting 'U-S-A', investors should be thinking 'C-A-P-E'?"
Replies: 18
Views: 2334

Re: "Maybe instead of chanting 'U-S-A', investors should be thinking 'C-A-P-E'?"

Prof. Jeremy Siegel is still bullish (as always) and believes U.S. stocks still represent a long-term value http://www.cnbc.com/2016/12/28/investors-often-make-these-two-big-mistakes-when-waiting-for-a-market-drop-jeremy-siegel-says.html Siegel's perma-bull status get's him a bad rap, being cynical ...
by JoMoney
Thu Dec 29, 2016 3:51 am
Forum: Investing - Theory, News & General
Topic: Expected returns 2017-2047
Replies: 30
Views: 2873

Re: Expected returns 2017-2047

Real (inflation adjusted) returns on U.S. stocks for the past 90+ years was just under a 7% CAGR, for the past 30 year period it was a bit over 7%, there have been some 30 year periods that were rough especially with regards to inflation. There have been thirty year periods since 1925 as low as in t...
by JoMoney
Tue Dec 27, 2016 11:20 pm
Forum: Investing - Theory, News & General
Topic: Does Vanguard always have our best interests in mind?
Replies: 55
Views: 4556

Re: Does Vanguard always have our best interests in mind?

... Has Vanguard changed their recommendations solely based on research and the best interests of individual investors? Or is there perhaps some motivation to capture slightly higher fees and promote newer international funds? While I don't believe they're at all motivated by higher fees, I'm open ...
by JoMoney
Mon Dec 26, 2016 11:45 pm
Forum: Investing - Theory, News & General
Topic: Remember what it was like before the recession?
Replies: 81
Views: 8117

Re: Remember what it was like before the recession?

The inverted yield curve is what I remember, especially this (somewhat associated) reaction from Cramer: https://www.youtube.com/watch?v=SWksEJQEYVU
by JoMoney
Mon Dec 26, 2016 12:30 pm
Forum: Investing - Theory, News & General
Topic: O`Shares and John Bogle
Replies: 9
Views: 1277

Re: O`Shares and John Bogle

Despite all the talk of "factors" and "smart beta", i'd suggest you consider the portfolio advice offered by sage investors like John Bogle and Warren Buffett. There is some "average" amount of money to be earned for invested capital (or possibly lost if things don't go...
by JoMoney
Mon Dec 26, 2016 11:37 am
Forum: Investing - Theory, News & General
Topic: O`Shares and John Bogle
Replies: 9
Views: 1277

Re: O`Shares and John Bogle

According to the O'Shares website , their product is a "Smart Beta" fund. http://www.thinkadvisor.com/2014/03/31/on-smart-beta-smart-skeptics?slreturn=1482770112 When asked what he thought about smart beta, Bogle responded by saying, “If I had to give you one word for it, Christine, it wou...
by JoMoney
Sat Dec 24, 2016 8:11 pm
Forum: Investing - Theory, News & General
Topic: Bogle says (US) has the best investor protections and legal institutions
Replies: 88
Views: 6479

Re: Bogle says (US) has the best investor protections and legal institutions

... Otherwise we are going down the route of arguing that markets are not efficient. That investors, in aggregate, cannot properly assess the risks of some markets v. other markets. Some markets have capital controls/restrictions and lack liquidity and a market size sufficient to support the kind o...
by JoMoney
Sat Dec 24, 2016 8:48 am
Forum: Investing - Help with Personal Investments
Topic: Can I trust SIPC?
Replies: 22
Views: 1012

Re: Can I trust SIPC?

To my understanding, SIPC insurance covers you (up to set limits) in the event your broker dealer becomes insolvent or goes bankrupt. It does not necessarily protect you if you use a unscrupulous broker who steals or somehow separates you from your money. Having said that, if you use a large reputa...
by JoMoney
Fri Dec 23, 2016 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Banking - choosing
Replies: 25
Views: 1963

Re: Banking - choosing

What criterion besides financial stability did you apply and factors in determining where you would bank? This is what I look for in a bank, in roughly this order: "Free" checking - No periodic or automatic fees. ATM card that doesn't charge foreign transaction fees when withdrawing in no...
by JoMoney
Thu Dec 22, 2016 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Reading the John Bogle book
Replies: 4
Views: 368

Re: Reading the John Bogle book

David Jay wrote:Which one? "Common Sense..." Or "Little Book..."

Despite there being something like 13 books associated with Bogle, and probably dozens more written about him, those were the 2 I thought of... "which one?" :)
by JoMoney
Thu Dec 22, 2016 6:24 pm
Forum: Investing - Theory, News & General
Topic: Fortune Article - Vanguard Flexes Its Muscle
Replies: 43
Views: 5354

Re: Fortune Article - Vanguard Flexes Its Muscle

My (somewhat cynical) suspicion, is some of the newer asset categorize Vanguard has branched into are simply areas where they think they can lower costs to investors (whether investors really need those assets or not is a different question). Although we don't know all the details of it, we do know ...
by JoMoney
Thu Dec 22, 2016 5:52 pm
Forum: Investing - Theory, News & General
Topic: Fortune Article - Vanguard Flexes Its Muscle
Replies: 43
Views: 5354

Re: Fortune Article - Vanguard Flexes Its Muscle

Thanks for posting. I think corporate governance is important, investors as a whole aren't going to add to the returns of stocks by fervently trading them among ourselves but that doesn't mean there can't be added value by being good owners of the companies... I'm a bit conflicted about how much inv...
by JoMoney
Wed Dec 21, 2016 4:15 pm
Forum: Investing - Theory, News & General
Topic: What are the REAL reasons to avoid international?
Replies: 71
Views: 5239

Re: What are the REAL reasons to avoid international?

It sounds like you're suggesting that a lot of the usual reasons aren't good reasons, because "they've already been priced in". But what if you don't subscribe strongly to an efficient market hypothesis? Wouldn't that argument then not be convincing? To be a Boglehead you kinda HAVE to su...
by JoMoney
Wed Dec 21, 2016 3:55 pm
Forum: Investing - Theory, News & General
Topic: What are the REAL reasons to avoid international?
Replies: 71
Views: 5239

Re: What are the REAL reasons to avoid international?

It sounds like you're suggesting that a lot of the usual reasons aren't good reasons, because "they've already been priced in". But what if you don't subscribe strongly to an efficient market hypothesis? Wouldn't that argument then not be convincing? To be a Boglehead you kinda HAVE to su...
by JoMoney
Wed Dec 21, 2016 3:48 pm
Forum: Investing - Theory, News & General
Topic: What are the REAL reasons to avoid international?
Replies: 71
Views: 5239

Re: What are the REAL reasons to avoid international?

It sounds like you're suggesting that a lot of the usual reasons aren't good reasons, because "they've already been priced in". But what if you don't subscribe strongly to an efficient market hypothesis? Wouldn't that argument then not be convincing? Right, and despite all the "risk ...
by JoMoney
Wed Dec 21, 2016 2:51 pm
Forum: Investing - Theory, News & General
Topic: VBR higher p/e than VTI & lower growth
Replies: 17
Views: 1487

Re: VBR higher p/e than VTI & lower growth

... Crazy stuff I thought the SEC would regulate this kind of stuff. So where is the best place to get good information? Does this mean that VBR really probably has a lower PE than VTI and Vanguard just has it wrong? No, not wrong... just that there are different ways of calculating earnings for an...
by JoMoney
Wed Dec 21, 2016 6:51 am
Forum: Investing - Theory, News & General
Topic: VBR higher p/e than VTI & lower growth
Replies: 17
Views: 1487

Re: VBR higher p/e than VTI & lower growth

So I'm the only one who is surprised by the p/e? :happy What may be really surprising to you, is how bad the earnings are depending on how they're aggregated. The way Vanguard computes the P/E ratio for a mutual fund are a bit different than how an index may calculate it. The Index itself may divid...
by JoMoney
Tue Dec 20, 2016 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: S&P vs Vanguard Target Retirement
Replies: 7
Views: 693

Re: S&P vs Vanguard Target Retirement

My allocation is pretty much what you're suggesting, I took Warren Buffett's advice several years back and keep enough in cash/bonds to the point where I'm comfortable with the rest exposed to the stock markets gyrations and put it in a low cost S&P500 fund. Despite that being the allocation I ...
by JoMoney
Tue Dec 20, 2016 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: S&P vs Vanguard Target Retirement
Replies: 7
Views: 693

Re: S&P vs Vanguard Target Retirement

My allocation is pretty much what you're suggesting, I took Warren Buffett's advice several years back and keep enough in cash/bonds to the point where I'm comfortable with the rest exposed to the stock markets gyrations and put it in a low cost S&P500 fund. Despite that being the allocation I h...
by JoMoney
Tue Dec 20, 2016 1:20 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on working for Metlife selling life insurance and IRA's?
Replies: 16
Views: 1725

Re: Thoughts on working for Metlife selling life insurance and IRA's?

If you truly believe in the product you're selling then... maybe... Depending on the type of insurance products, I would find it hard to imagine a Boglehead that would. I couldn't work in a job that required me to make arguments against what I truly believed, I imagine it would be especially hard to...
by JoMoney
Mon Dec 19, 2016 5:10 pm
Forum: Investing - Theory, News & General
Topic: Bogle says (US) has the best investor protections and legal institutions
Replies: 88
Views: 6479

Re: Bogle says (US) has the best investor protections and legal institutions

Not exactly related to the thread, but there was a WSJ article today: " Companies Face Delays Getting Cash Out of China " The US is not immune from instituting similar blocks to money flows leaving the country, but it's something that can happen with various levels of severity, under a var...
by JoMoney
Mon Dec 19, 2016 4:20 pm
Forum: Investing - Help with Personal Investments
Topic: DCA vs Value Investing
Replies: 2
Views: 473

Re: DCA vs Value Investing

There is a difference between " Value Investing " and " Value Averaging ". I also DCA each paycheck, however you might find some people who don't like using the term DCA for regular periodic investing unless you have a chunk of money sitting on the side that you could optionally ...
by JoMoney
Sun Dec 18, 2016 5:49 pm
Forum: Investing - Theory, News & General
Topic: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"
Replies: 91
Views: 8071

Re: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"

Whoppee, What you are missing in your example is that the market price ( and by this I assume you mean fair price) would rise to $12 before the dividend was paid and settle back down to $11 after the payment. Whenever dividends are discussed, the rise in price before the dividend payment is often i...
by JoMoney
Sat Dec 17, 2016 7:07 pm
Forum: Investing - Theory, News & General
Topic: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"
Replies: 91
Views: 8071

Re: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"

" ... But dividends are guaranteed money in your pocket, retainee earnings can and often are squandered. This is frequently stated, and is definitely true in some cases, but if that were the norm the value of a business would dwindle away as the capital assets depreciate over time... but inste...
by JoMoney
Sat Dec 17, 2016 6:34 pm
Forum: Investing - Theory, News & General
Topic: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"
Replies: 91
Views: 8071

Re: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"

...do people feel comfortable stating share buyback is always the same as paying out dividends? I have seen companies doing share buybacks often to manage short-term market reactions and expectations than to create shareholder value. Without qualification, absolute statements like "always"...
by JoMoney
Sat Dec 17, 2016 4:01 pm
Forum: Investing - Theory, News & General
Topic: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"
Replies: 91
Views: 8071

Re: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"

What is the connection between dividends and stock price? It seems to me that there is not necessarily a direct link between the two. The stock price is the value of the stock as determined by buyers and sellers of the stock in the market, which could certainly be influenced by the dividend. The di...
by JoMoney
Sat Dec 17, 2016 6:25 am
Forum: Investing - Theory, News & General
Topic: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"
Replies: 91
Views: 8071

Re: Over the last 40 years, 71% of the stock market's return came from dividends, not capital appreciation,"

I can only find Vanguard annual reports for the S&P 500 fund showing their calculated book value going back to 1996, so I can only look at the last 20 years, but if I take the number they provided in in 12/31/1996 annual report for the Vanguard 500 Mutual fund of Price/Book= 3.4x, and the S&...
by JoMoney
Sat Dec 17, 2016 3:56 am
Forum: Investing - Help with Personal Investments
Topic: Single stock conundrum
Replies: 20
Views: 1721

Re: Single stock conundrum

It's been my experience that if you sell it, it will go much higher. :wink: I got rid of my individual stocks years ago because I ran into several issues similar to what you're faced with. Feeling like I'm in a position where I need to make decisions like that is just an opportunity to make mistakes...
by JoMoney
Fri Dec 16, 2016 10:37 pm
Forum: Investing - Theory, News & General
Topic: What happens if Vanguard is wiped out?
Replies: 17
Views: 2951

Re: What happens if Vanguard is wiped out?

Keep in mind, that the stocks are actually held by various banks not Vanguard as a fund administrator, and not the mutual fund), banks hold them for the benefit of the fund. I imagine you would be a claimant in some legal effort to unwind the title/claim on those assets, and it would take some time ...
by JoMoney
Fri Dec 16, 2016 5:49 pm
Forum: Investing - Theory, News & General
Topic: What % of People Invest in the Stock Market?
Replies: 22
Views: 2831

Re: What % of People Invest in the Stock Market?

... really only the top 10% benefit from the the tripling of the DJIA during the past eight years. The point is the masses just haven't shared in the prosperity. ... It's probably a bit tangential of the point of this thread, but framing it this way is a bit biased. Whatever the percentage of stock...
by JoMoney
Wed Dec 14, 2016 4:46 pm
Forum: Investing - Theory, News & General
Topic: Bogle says (US) has the best investor protections and legal institutions
Replies: 88
Views: 6479

Re: Bogle says (US) has the best investor protections and legal institutions

... Whenever I hear that, I ask myself, which country spawned: Enron Worldcom Herbalife Mortgage backed securities Wells Fargo Bernie Madoff ... A U.S. person has legal rights to seek compensation if they're defrauded, and many were in the cases you mentioned above. And while Investors in U.S. mutu...
by JoMoney
Wed Dec 14, 2016 4:11 pm
Forum: Investing - Theory, News & General
Topic: Warren Buffett recommends putting 90% in S&P500 index fund, 10% in Bond index
Replies: 55
Views: 8911

Re: Warren Buffett recommends putting 90% in S&P500 index fund, 10% in Bond index

We know that the majority of Buffett's wealth has been promised to various charities. It has not been announced at all how much he will be leaving his wife. While I'm sure she'll have plenty, any numbers about how much she'll have to spend is pure speculation. ...and he does suggest this as a portfo...

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