Search found 727 matches

by RNJ
Tue Jan 10, 2017 1:38 pm
Forum: Investing - Theory, News & General
Topic: International Value Index
Replies: 1
Views: 274

Re: International Value Index

Dunno. In the meantime, SFNNX, PXF, & EFV are all available. I've used each for TLHs. Since early 2016 it's been SFNNX. Has the benefits of being a fund (no issues re spreads) and is the cheapest of the group (.34%).
by RNJ
Sun Jan 08, 2017 9:02 am
Forum: Investing - Help with Personal Investments
Topic: Better to teach kids about investing with ETFs or individual stocks?
Replies: 19
Views: 907

Re: Better to teach kids about investing with ETFs or individual stocks?

We've got lots of very important things to do in our lives that are not particularly exciting: buying insurance, annual physicals, doing homework, tying shoes. In my opinion, investing should fall in this category if for no other reason than starting good habits - behavioral, intellectual - early.
by RNJ
Tue Jan 03, 2017 5:54 pm
Forum: Investing - Theory, News & General
Topic: 2017 and on - Bond Strategy
Replies: 12
Views: 2096

Re: 2017 and on - Bond Strategy

In retirement accounts I hold only Treasury and TIPS funds (VFIUX & FSIYX). In taxable, only the safest (credit risk) intermediate-term bond fund I could find (BMBIX). Yes, giving up some yield. I've learned to live with it. Wow, that muni fund is quite a bit better quality than VWITX at Vangua...
by RNJ
Tue Jan 03, 2017 9:16 am
Forum: Investing - Theory, News & General
Topic: 2017 and on - Bond Strategy
Replies: 12
Views: 2096

Re: 2017 and on - Bond Strategy

In retirement accounts I hold only Treasury and TIPS funds (VFIUX & FSIYX). In taxable, only the safest (credit risk) intermediate-term bond fund I could find (BMBIX). Yes, giving up some yield. I've learned to live with it. Wow, that muni fund is quite a bit better quality than VWITX at Vangua...
by RNJ
Tue Jan 03, 2017 12:11 am
Forum: Investing - Theory, News & General
Topic: 2017 and on - Bond Strategy
Replies: 12
Views: 2096

Re: 2017 and on - Bond Strategy

In retirement accounts I hold only Treasury and TIPS funds (VFIUX & FSIYX).

In taxable, only the safest (credit risk) intermediate-term bond fund I could find (BMBIX). Yes, giving up some yield. I've learned to live with it.
by RNJ
Fri Dec 30, 2016 2:38 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: 2335

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

I am open to buying gval but I have not managed to overcome my doubts. I'm sold on the idea of international diversification and that valuations matter. What I'm not sure about is the wisdom of rebalancing into the cheapest countries every year. It seems prone to catching a falling knife or getting...
by RNJ
Thu Dec 29, 2016 10:31 pm
Forum: Investing - Theory, News & General
Topic: "Maybe instead of chanting 'U-S-A', investors should be thinking 'C-A-P-E'?"
Replies: 18
Views: 2335

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

Yes, the U.S. CAPE is high, but what other country would you feel comfortable investing in? Frankly, I don't feel "comfortable" investing anywhere. But that's the point - investing is risky. If one is completely comfortable, there is a possibility of not understanding the risks being take...
by RNJ
Fri Dec 09, 2016 4:27 pm
Forum: Investing - Theory, News & General
Topic: Do you think Slice and Dice makes it harder to stay the course?
Replies: 40
Views: 2280

Re: Do you think Slice and Dice makes it harder to stay the course?

I haven't seen any recommended changes for a small-cap and value-tilted slice-and-dice portfolio in more than 10 years, so I believe it has staying power and is pretty trivial to use and stay the course. I have never invested in gold, international bonds, micro caps, frontier markets, commodities. ...
by RNJ
Tue Dec 06, 2016 2:41 am
Forum: Investing - Help with Personal Investments
Topic: How much risk do we need to take? Retired at age 47.
Replies: 56
Views: 6302

Re: How much risk do we need to take? Retired at age 47.

Watch how low you go with equities. One or (hopefully) both of you may be around another 50 years. Also, don't discount possibility of wanting to work in the future.

Good job & good luck.
by RNJ
Tue Dec 06, 2016 1:20 am
Forum: Investing - Theory, News & General
Topic: Sequence of returns risk. Using puts to hedge.
Replies: 26
Views: 1797

Re: Sequence of returns risk. Using puts to hedge.

Depending on your age, couldn't you buy a TIPS ladder of the # of years you want to hedge?
by RNJ
Sat Dec 03, 2016 6:24 am
Forum: Investing - Theory, News & General
Topic: What percentage of international do you hold?
Replies: 127
Views: 6224

Re: What percentage of international do you hold?

50% of equities in a roughly 65/35 portfolio.
by RNJ
Fri Dec 02, 2016 10:26 am
Forum: Investing - Theory, News & General
Topic: What exactly happened in Japan...and can it happen here?
Replies: 27
Views: 3347

Re: What exactly happened in Japan...and can it happen here?

Inquiring Bogleheads want to know: I'm very fuzzy about why the Japanese market took a huge dive and stayed down for so many years. Can some of the pundits on this board explain it simply? The "Japan" situation is usually used as a rationale for maintaining a significant amount of interna...
by RNJ
Mon Sep 12, 2016 11:53 am
Forum: Investing - Theory, News & General
Topic: Jason Hsu and William Bernstein Like Overbalancing
Replies: 27
Views: 4368

Re: Jason Hsu and William Bernstein Like Overbalancing

Key to remember that what looks cheap/expensive now can become far more so and over a long period of time before any realignment or mean reversion. Tread lightly.

Full disclosure: I do this.
by RNJ
Tue Aug 16, 2016 3:31 pm
Forum: Investing - Theory, News & General
Topic: Someone wants to pay me to manage their finances
Replies: 46
Views: 4569

Re: Someone wants to pay me to manage their finances

No way. Dangerous for all concerned. Vanguard PAS if they have neither the time nor inclination to manage for themselves.
by RNJ
Tue Jun 14, 2016 6:06 am
Forum: Investing - Theory, News & General
Topic: Options for low risk bonds in taxable account
Replies: 4
Views: 510

Re: Options for low risk bonds in taxable account

A couple of options to pair with your PA fund:

Baird Quality Intermediate Municipal (BMBIX) - a national fund with high quality holdings, a large % of which are pre-refunded; shorter duration than PA fund.

VG Limited Term Tax Exempt (VMLUX) - a shorter duration national fund.
by RNJ
Sat Jun 11, 2016 11:27 am
Forum: Investing - Theory, News & General
Topic: What is your overall portfolio weighted expense ratio
Replies: 118
Views: 7878

Re: What is your overall portfolio weighted expense ratio

It's the first # I see when I open up my spreadsheet (updated automatically): .18% for a small, value and globally tilted portfolio.
by RNJ
Wed Jun 08, 2016 3:31 pm
Forum: Investing - Theory, News & General
Topic: M Faber: "Institutional Investors are Delusional"
Replies: 16
Views: 1866

Re: M Faber: "Institutional Investors are Delusional"

Here's the BNY Mellon-FT Remark report of institutional investors Meb Faber referenced, probably worth a look: https://www.bnymellon.com/_global-assets/pdf/our-thinking/institutional-investment-in-alternative-assets.pdf#page=8 Another by SSGA-FT Remark: https://www.ssga.com/investment-topics/asset-...
by RNJ
Wed Jun 08, 2016 2:41 pm
Forum: Investing - Theory, News & General
Topic: M Faber: "Institutional Investors are Delusional"
Replies: 16
Views: 1866

M Faber: "Institutional Investors are Delusional"

http://mebfaber.com/2016/06/07/institutional-investors-delusional/ From the article: "I was skimming this recent publication from BNY Mellon and FT remark when a particular graphic caught my eye. Below is a survey from 400+ real money institutional respondents (we’re talking endowments, pensio...
by RNJ
Tue Jun 07, 2016 10:05 am
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 76
Views: 10745

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

There is one big reason. The rich would not experience a significant decrease in liquidity if they pay-off their mortgage. Depends on the size of the mortgage. I would argue that if paying-off your mortgage leaves you without liquid assets, you are not rich. You just blew my mind. I would think it ...
by RNJ
Tue Jun 07, 2016 9:49 am
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 76
Views: 10745

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

1) I am not seeing any reason why rich people are different than more moderate income people. There is one big reason. The rich would not experience a significant decrease in liquidity if they pay-off their mortgage. Depends on the size of the mortgage. I would argue that if paying-off your mortgag...
by RNJ
Mon Jun 06, 2016 6:14 pm
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 76
Views: 10745

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

Call_Me_Op wrote:
randomguy wrote:1)

I am not seeing any reason why rich people are different than more moderate income people.


There is one big reason. The rich would not experience a significant decrease in liquidity if they pay-off their mortgage.


Depends on the size of the mortgage.
by RNJ
Mon Jun 06, 2016 6:13 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Advisor Services suggests plan....
Replies: 41
Views: 5363

Re: Vanguard Advisor Services suggests plan....

saltycaper wrote:I would go with VAS if I were you.


Yes. And I like the larger allocation to International.
by RNJ
Mon Jun 06, 2016 1:19 pm
Forum: Investing - Theory, News & General
Topic: Opportunistic rebalancing and handling flexibility
Replies: 8
Views: 692

Re: Opportunistic rebalancing and handling flexibility

I've been moving my portfolio to a 4 fund Vanguard portfolio and decided on a opportunistic band method for re-balancing using a relative % threshold and target. I am going with a 20% relative threshold band and 10% tolerance band. With 20% relative threshold and 10% tolerance band, I think you wil...
by RNJ
Wed Jun 01, 2016 9:41 am
Forum: Investing - Theory, News & General
Topic: "Wall Street Turns to ETFs to Sidestep Illiquidity in Bond Mkt"
Replies: 18
Views: 2362

Re: "Wall Street Turns to ETFs to Sidestep Illiquidity in Bond Mkt"

Interesting related thread started by Rick Ferri, with a relevant table by Robert T: https://www.bogleheads.org/forum/viewtopic.php?t=85719 Money quote from Rick: "In a down market, restricted trading is always paid for by the sellers of ETF shares in the form of price discounts. This doesn't h...
by RNJ
Wed Jun 01, 2016 1:41 am
Forum: Investing - Theory, News & General
Topic: "Wall Street Turns to ETFs to Sidestep Illiquidity in Bond Mkt"
Replies: 18
Views: 2362

"Wall Street Turns to ETFs to Sidestep Illiquidity in Bond Mkt"

From Bloomberg: Wall Street Turns to ETFs to Sidestep Illiquidity in Bond Market http://www.bloomberg.com/news/articles/2016-05-31/wall-street-turns-to-etfs-to-sidestep-illiquidity-in-bond-market "While it’s easy to buy ETFs, concern is growing that it may not be as simple to get out when senti...
by RNJ
Sun May 29, 2016 7:36 am
Forum: Investing - Theory, News & General
Topic: Asset Allocation Conundrum
Replies: 25
Views: 2076

Re: Asset Allocation Conundrum

You've been prudent and disciplined, thus far. Not easy to do. A couple of thoughts: How might you feel and (more importantly) react if your $550k portfolio became a $340k portfolio (80/20 in 2008) over a relatively short period of time? Also, are your insurance needs covered? Life? Disability? Give...
by RNJ
Wed May 18, 2016 4:20 pm
Forum: Investing - Help with Personal Investments
Topic: A very large sum and a unique situation
Replies: 24
Views: 2756

Re: A very large sum and a unique situation

I'd suggest Vanguard Personal Advisor Services (not any other brokerage) for the investing part. . . . . . One thing to consider. If the one son is managing the money for all 3 families, I would absolutely have someone else manage it . For me, that would be Vanguard PAS. If the son is only managing...
by RNJ
Wed May 18, 2016 9:40 am
Forum: Investing - Theory, News & General
Topic: safe alternative to stock market
Replies: 62
Views: 7203

Re: safe alternative to stock market

Maybe the best thing to do is re-assess your current asset allocation and the rationale for choosing it. Do you have an IPS?
by RNJ
Wed May 18, 2016 7:15 am
Forum: Investing - Theory, News & General
Topic: safe alternative to stock market
Replies: 62
Views: 7203

Re: safe alternative to stock market

FDIC insured high yield savings accounts or CDs.
by RNJ
Mon May 16, 2016 2:43 pm
Forum: Investing - Theory, News & General
Topic: DEMSX vs VSS
Replies: 7
Views: 469

Re: DEMSX vs VSS

I'd rather have the DFA fund than any of the ETFs in the space, that's for sure. If there's one place DFA's not-a-slave-to-an-index, so-called patient trading can really help, it's got to be small cap EM. +1 IF this is the space you want to be in. VSS may be the only game in town for what it does (...
by RNJ
Mon May 16, 2016 1:36 pm
Forum: Investing - Theory, News & General
Topic: DEMSX vs VSS
Replies: 7
Views: 469

Re: DEMSX vs VSS

Well, emerging markets small cap (small cap value, mostly, reaching heavily through mids, with some micro caps) and ex-US small cap (though actually more mid cap than small cap) don't exactly have the same asset coverage. It makes sense that the more specialized fund that concentrates in the parts ...
by RNJ
Mon May 16, 2016 1:30 pm
Forum: Investing - Theory, News & General
Topic: DEMSX vs VSS
Replies: 7
Views: 469

Re: DEMSX vs VSS

You do understand that these are completely different types of funds, right? If not, you might want to do some more research before making the switch.
by RNJ
Sat May 14, 2016 5:57 am
Forum: Investing - Theory, News & General
Topic: Jim Cramer doesn’t beat the market
Replies: 61
Views: 7550

Re: Jim Cramer doesn’t beat the market

Toons wrote:Cramer is entertaining. :happy



Cramer is entertainMENT.
by RNJ
Thu May 12, 2016 11:41 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Checkup Requested on 3 Year Boglehead Anniversary
Replies: 14
Views: 2418

Re: Portfolio Checkup Requested on 3 Year Boglehead Anniversary

Hi. I don't like the idea of paying off the mortgage - though I might if your mortgage rate was higher. Using the "mortgage as a negative bond" model, the after-tax difference between what you're earning on your bond funds and paying out for a mortgage might be thought of as the premium yo...
by RNJ
Tue May 10, 2016 12:57 pm
Forum: Investing - Help with Personal Investments
Topic: Too Chicken for NJ Municipal Bonds?
Replies: 12
Views: 1713

Re: Too Chicken for NJ Municipal Bonds?

I'm in the same position. I opted out of VNJUX - I didn't like the duration or the single state risk (I use BMBIX - Baird Intermediate Quality). That said, you could do something similar to what Grabiner is suggesting by splitting your $ between VNJUX and Vanguard's NJ money market fund, current SEC...
by RNJ
Fri May 06, 2016 10:56 am
Forum: Investing - Theory, News & General
Topic: Indexed annuities
Replies: 32
Views: 2696

Re: Indexed annuities

nimzojim wrote:These annuities appear to be mostly a scam presented to aging retirees using fear factor techniques but I would love to hear from anyone who disagrees and can present a good case for owning them.


I think that about sums it up.
by RNJ
Fri May 06, 2016 6:14 am
Forum: Investing - Theory, News & General
Topic: "When the Rich Jump Ship"
Replies: 6
Views: 2213

"When the Rich Jump Ship"

From The Atlantic:

"The accepted wisdom says to sit tight when the market tanks, but a couple of groups don’t heed that advice."

http://www.theatlantic.com/business/archive/2016/05/when-the-rich-jump-ship/481326/
by RNJ
Fri May 06, 2016 6:10 am
Forum: Investing - Help with Personal Investments
Topic: 57, widowed, looking for best path to invest windfall
Replies: 20
Views: 3065

Re: 57, widowed, looking for best path to invest windfall

I'm sorry for your loss. I was in just your position a few years ago. Not easy. Re paying off the mortgage, I also don't think there is any hurry to pay it off. Not paying it off allows more flexibility for your mother and also functions as an inflation hedge. And given the nature of your family's l...
by RNJ
Tue May 03, 2016 1:00 pm
Forum: Investing - Theory, News & General
Topic: Total World ETF Taxable
Replies: 9
Views: 1172

Re: Total World ETF Taxable

Completelr reasonable holding, IMHO. The er will likely come down over time. The few extra basis points is the price of simplicity and compensating for home bias - a pretty good deal. And why would you miss out on a TLH opportunity? Have you checked out ACWI (iShares' MSCI World Index) as a TLH par...
by RNJ
Mon May 02, 2016 10:01 am
Forum: Investing - Theory, News & General
Topic: Total World ETF Taxable
Replies: 9
Views: 1172

Re: Total World ETF Taxable

Completely reasonable holding, IMHO. The er will likely come down over time. The few extra basis points is the price of simplicity and compensating for home bias - a pretty good deal. And why would you miss out on a TLH opportunity? Have you checked out ACWI (iShares' MSCI World Index) as a TLH part...
by RNJ
Sun May 01, 2016 11:49 am
Forum: Investing - Theory, News & General
Topic: 529 plans: "off-label" uses?
Replies: 7
Views: 930

529 plans: "off-label" uses?

In a recent thread ( https://www.bogleheads.org/forum/viewtopic.php?t=189955 ), in the context of finding "low hanging fruit" in financial planning,a reference was made to "off-label" uses for 529 plans. I'm not finding much in search. Could anyone elaborate? Thanks.
by RNJ
Sun May 01, 2016 1:30 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting: in rare occasions for the boglehead?
Replies: 17
Views: 1988

Re: Tax loss harvesting: in rare occasions for the boglehead?

TL harvests may also be used to offset future capital gains. My use of TLH is opportunistic. If I find, for example, an emerging markets lot or entire allocation is showing a "worthwhile" loss, I sell, booking the loss, and then purchase a predetermined TLH "partner" (e.g., VWO <...
by RNJ
Fri Apr 29, 2016 3:34 pm
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets?
Replies: 15
Views: 1658

Re: Emerging Markets?

RNJ... No, we do not have an IPS...we do have a fairly well-defined handle on the basic tenets as described in the wiki, but not a formal or elaborate statement as such. It is only in the past 2 years that DW and I have begun actively managing this portion of our investment portfolio, with the inte...
by RNJ
Fri Apr 29, 2016 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets?
Replies: 15
Views: 1658

Re: Emerging Markets?

A couple of points. When holding particularly volatile asset classes (e.g., small value, emerging markets) I believe it is imperative to have tax-loss partners at the ready and make the jump from one to the other immediately or ASAP. If one is not prepared to do that then it is a mistake in process...
by RNJ
Fri Apr 29, 2016 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets?
Replies: 15
Views: 1658

Re: Emerging Markets?

A couple of points. When holding particularly volatile asset classes (e.g., small value, emerging markets) I believe it is imperative to have tax-loss partners at the ready and make the jump from one to the other immediately or ASAP. If one is not prepared to do that then it is a mistake in process ...
by RNJ
Thu Apr 21, 2016 4:35 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard versus David Swenson
Replies: 28
Views: 4189

Re: Vanguard versus David Swenson

Swensen's "Unconventional Success" was one of the first books to open my eyes to indexing, asset class investing, etc. It continues to be a touchstone for me. But my portfolio looks nothing like a "Swensen". This is mostly because I am in a situation nearly identical to yours and...
by RNJ
Thu Apr 21, 2016 4:42 am
Forum: Investing - Help with Personal Investments
Topic: How to think about cash balance plan?
Replies: 1
Views: 353

How to think about cash balance plan?

My dear spouse is a partner in a large professional practice, and participates in the partnership's CBP. The plan has a 0% - 4% "collar" meaning that if the plan underperforms (negative return in a given year) additional funds must be added, while returns exceeding 4% reduce pretax contrib...

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