Search found 1185 matches

by asset_chaos
Sat Sep 09, 2017 4:36 pm
Forum: Investing - Theory, News & General
Topic: Boglehead investing in Spain -- a forum thread
Replies: 7
Views: 1361

Re: Boglehead investing in Spain -- a forum thread

Vanguard lists its global branches here https://global.vanguard.com/portal/site/home. Among those listed, one is Spain with a webpage here https://global.vanguard.com/portal/site ... /documents. A cursory look suggests Vanguard directs Spanish investors to their Irish funds.
by asset_chaos
Thu Sep 07, 2017 11:45 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Global Bond Index Portfolio (annuity)
Replies: 11
Views: 1284

Re: Vanguard Global Bond Index Portfolio (annuity)

Vanguard operations outside the US have offered a global bond index fund (based on the Bloomberg Global Aggregate Float Adjusted Index Hedged) for a number of years (6 or 7 at a guess). See, e.g., Swiss vanguard.ch. In Australia Vanguard has just this year started offering a global bond index fund. ...
by asset_chaos
Wed Sep 06, 2017 4:23 pm
Forum: Investing - Theory, News & General
Topic: The Emerging Markets "lost decade" is over
Replies: 52
Views: 5401

Re: The Emerging Markets "lost decade" is over

Total world, holding around 98% of investable market cap of companies irrespective of where they're headquartered or listed, renders discussions like these about fluctuations of market sectors strictly for entertainment purposes.
by asset_chaos
Sun Sep 03, 2017 8:39 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Carry Factor Spans Assets
Replies: 14
Views: 1838

Re: Larry Swedroe: Carry Factor Spans Assets

To get back to the original issue of carry factor. "The carry factor is the tendency for higher-yielding assets to provide higher returns than lower-yielding assets." Does that imply that Wisdomtree and Siegel were right all along about dividend weighting their portfolios? I think I recall years ag...
by asset_chaos
Fri Sep 01, 2017 7:50 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Carry Factor Spans Assets
Replies: 14
Views: 1838

Re: Larry Swedroe: Carry Factor Spans Assets

To get back to the original issue of carry factor. "The carry factor is the tendency for higher-yielding assets to provide higher returns than lower-yielding assets." Does that imply that Wisdomtree and Siegel were right all along about dividend weighting their portfolios? I think I recall years ago...
by asset_chaos
Wed Aug 30, 2017 4:20 pm
Forum: Investing - Theory, News & General
Topic: Ethereum (cryptocurrency) flash crash, 6/21/2017, $339->$0.10 in "seconds"
Replies: 30
Views: 4575

Re: Ethereum (cryptocurrency) flash crash, 6/21/2017, $339->$0.10 in "seconds"

Cryptocurrencies fall into that bucket labeled 'things I don't understand at all'. (Admittedly it's a big bucket.) Therefore I'm not enticed to invest there at all, regardless of any touted investment advantage.
by asset_chaos
Mon Aug 28, 2017 3:45 am
Forum: Investing - Theory, News & General
Topic: Long-run Sharpe Ratios in an ideal world
Replies: 43
Views: 4228

Re: Long-run Sharpe Ratios in an ideal world

At the risk of being roundly criticized for ignoring correlations, stock prices and other things, there is a mean field type of argument one can make that only requires there be a relationship between the diversified portfolio return minus the risk-free return, call it R, and the riskiness of the d...
by asset_chaos
Fri Aug 25, 2017 10:37 pm
Forum: Investing - Theory, News & General
Topic: Long-run Sharpe Ratios in an ideal world
Replies: 43
Views: 4228

Re: Long-run Sharpe Ratios in an ideal world

At the risk of being roundly criticized for ignoring correlations, stock prices and other things, there is a mean field type of argument one can make that only requires there be a relationship between the diversified portfolio return minus the risk-free return, call it R, and the riskiness of the di...
by asset_chaos
Fri Aug 25, 2017 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: "Why do you want to come here?" Hiring Manager Question
Replies: 19
Views: 2929

Re: "Why do you want to come here?" Hiring Manager Question

Similar thing happened to me. In hiring interviews they were worried I'd come and leave soon so they asked to have a contract clause whereby I'd repay a pro rata share of moving expenses if I left before three years. I said, sure I have no problem with that. One strategy (and you'd have to judge whe...
by asset_chaos
Fri Aug 25, 2017 5:09 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Announces Plans To Launch Total Corporate Bond ETF
Replies: 41
Views: 6174

Re: Vanguard Announces Plans To Launch Total Corporate Bond ETF

" The fund will be structured as an ETF of ETFs, investing directly in three existing, low-cost ETFs: Vanguard Short-Term Corporate Bond ETF (VCSH), Vanguard Intermediate-Term Corporate Bond ETF (VCIT), and Vanguard Long-Term Corporate Bond ETF (VCLT). " Weird. I would think one of the advantages o...
by asset_chaos
Tue Aug 22, 2017 8:32 pm
Forum: Investing - Theory, News & General
Topic: Total World (VT, VTWSX) Tilt? Simplicity...
Replies: 32
Views: 3407

Re: Total World (VT, VTWSX) Tilt? Simplicity...

A1. I do tilt but would not call it necessary. Just out of curiosity, what tilts do you choose to add to Total World? Not that it should at all influence what you do, but, while I invest in total world as my core stock fund, I also hold three small value funds (vanguard small value and the wisdomtr...
by asset_chaos
Mon Aug 21, 2017 4:31 pm
Forum: Investing - Theory, News & General
Topic: Total World (VT, VTWSX) Tilt? Simplicity...
Replies: 32
Views: 3407

Re: Total World (VT, VTWSX) Tilt? Simplicity...

1. To those of you who hold Total World, do you find it unnecessary to tilt? For me I'm realizing I would rather just hold the market weight and increase my equities in my AA if I want more risk. 2. Again to those of you who hold Total World: Do you ever worry about if/when the USA drops to less th...
by asset_chaos
Mon Aug 14, 2017 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: What is the allocation of the Bogleheads logo?
Replies: 6
Views: 2399

Re: What is the allocation of the Bogleheads logo?

It's a Bogleheads Rorschach test: what allocation do you see?
by asset_chaos
Tue Aug 08, 2017 4:38 pm
Forum: Investing - Help with Personal Investments
Topic: Low Cost Australian Superannuation Provider?
Replies: 4
Views: 441

Re: Low Cost Australian Superannuation Provider?

$50 odd dollars a month does seem like a lot on that balance. Are you paying life and disability insurance premiums as part of that? Insurance through super is often a good deal, and many super funds sign up members automatically for some base level of insurance, but if you don't need it, you can ca...
by asset_chaos
Fri Jul 21, 2017 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Debt: pay down student loan or car loan
Replies: 11
Views: 802

Re: Debt: pay down student loan or car loan

I think the general reasoning is to pay off the highest cost loan first. 3% of 7000 is 210; 1% of 11000 is 110. You'd have to be around a 50% tax bracket to make the after tax cost of the student loan less than that of the car loan. Since the highest federal tax bracket is less than that, if it were...
by asset_chaos
Mon Jul 17, 2017 4:35 pm
Forum: Investing - Help with Personal Investments
Topic: Accumulating Bonds During Record Stocks
Replies: 5
Views: 907

Re: Accumulating Bonds During Record Stocks

I don't know about the waiting to pounce in a bear market part of it, but for the past few years all of my new investment, all stock dividends, and almost all stock rebalancing sales have gone to bonds. This is because stock markets have been going well, much higher returns than bonds, and it's all ...
by asset_chaos
Sat Jul 15, 2017 8:16 pm
Forum: Investing - Theory, News & General
Topic: Is now time to move into international stocks?
Replies: 57
Views: 6792

Re: Is now time to move into international stocks?

I think the "is now time to move" question should be answered by the rebalancing policy that hopefully you've written down prior to this time. I understand domestic stocks have done really well versus foreign for 5 years or so. That's what accounts for the difference in valuation metrics you note. S...
by asset_chaos
Fri Jul 14, 2017 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: 20 Year old Australian Needing help with Investments
Replies: 3
Views: 273

Re: 20 Year old Australian Needing help with Investments

Congratulations. It sounds like you've made a really good financial start in life. After investing will you still have some cash for emergencies? If not, I suggest keeping several of those thousands in the bank as a buffer against unforeseen circumstances. Have you investigated if you're eligible fo...
by asset_chaos
Sat Jul 08, 2017 11:28 pm
Forum: Investing - Help with Personal Investments
Topic: Physically present in the US for VG advice
Replies: 4
Views: 501

Re: Physically present in the US for VG advice

I wonder what they do for someone who's already a client and who calls during their overseas business trip with a question? More seriously, is this a new requirement? In the mid-2000s I spoke with a Vanguard financial planner on the phone from my overseas residence without any issue raised. Vanguard...
by asset_chaos
Fri Jul 07, 2017 7:20 pm
Forum: Investing - Help with Personal Investments
Topic: Bond Choice for Taxable Trust
Replies: 2
Views: 280

Re: Bond Choice for Taxable Trust

Yes, municipals are an option. They are possibly the only option if you want to accumulate income inside the trust without tax. You can also distribute taxable income to the beneficiaries, who, if children, can receive around $2000 in unearned income without owing tax, if such a distribution is an a...
by asset_chaos
Tue Jul 04, 2017 3:10 am
Forum: Investing - Help with Personal Investments
Topic: Easy world portfolio for long term investment
Replies: 9
Views: 808

Re: Easy world portfolio for long term investment

- I believe in GDP allocation, not market size allocation If really true, where is your 15% or so allocation to a China etf? The China etf that you're willing to invest more and more in to bring it up to the same size as your US investment over the next decade? According to the IMF ( https://www.we...
by asset_chaos
Sun Jul 02, 2017 8:14 pm
Forum: Investing - Theory, News & General
Topic: World AAA/AA Short+Intermediate Bond Index: Is There?
Replies: 1
Views: 354

Re: World AAA/AA Short+Intermediate Bond Index: Is There?

Citibank has global bond indices. See https://www.yieldbook.com/m/indices/browse.shtml , in particular their World Broad Investment-Grade Bond Index (WorldBIG) or one of its subsets ( https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwij8qOQ9uvUAhUIxrwKHfZKC...
by asset_chaos
Sun Jul 02, 2017 7:23 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard recommended Retirement allocation too simple?
Replies: 70
Views: 6851

Re: Vanguard recommended Retirement allocation too simple?

I agree with everyone else that the simplicity is a good thing. The allocation is probably slightly atypical in that there's more foreign than a typical retiree has. On the other hand, maybe retirees should have a portfolio more like the suggested one. What that portfolio is is very close to matchin...
by asset_chaos
Sat Jul 01, 2017 6:16 am
Forum: Investing - Theory, News & General
Topic: International allocation. (Total World)
Replies: 23
Views: 2818

Re: International allocation. (Total World)

What's the capitalization weighted share of bonds and stocks ? Also TIPS are as risky as all the other bonds, ceteris paribus, minus the inflation risk. They are not riskless by any extent. If you follow Sharpe ( https://web.stanford.edu/~wfsharpe/RISMAT/RISMAT-7.pdf ) and look up the capitalizatio...
by asset_chaos
Wed Jun 28, 2017 9:52 pm
Forum: Investing - Theory, News & General
Topic: International allocation. (Total World)
Replies: 23
Views: 2818

Re: International allocation. (Total World)

1. If you are using Total World, does anyone add a small amount of emerging markets to get the China A shares. 2. The other question I had is about bonds. Right now I have stuck to Total Bond Market (BND). ... There are not many threads though showing a way to implement (or even slightly mimic) a g...
by asset_chaos
Tue Jun 27, 2017 6:13 am
Forum: Investing - Theory, News & General
Topic: International allocation. (Total World)
Replies: 23
Views: 2818

Re: International allocation. (Total World)

I'm struggling with finding an international allocation I am comfortable with. ... I enjoy reading different theoretical ideas but I'm realizing my problem is more basic than that, just trying to find something I can stick with. I believe your struggle is because there is no obvious optimal allocat...
by asset_chaos
Sun Jun 11, 2017 6:52 pm
Forum: Investing - Theory, News & General
Topic: Bogle Doubles Down on US Index Funds
Replies: 118
Views: 13933

Re: Bogle Doubles Down on US Index Funds

This comes up now and again and has been rehashed several times on this board. Mr Bogle only occasionally qualifies this advice as being directed to a US investor, but he has done so in the past. I think that Bogle's dictum of domestic only is just within the bounds of reason for a US investor becau...
by asset_chaos
Wed May 31, 2017 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance for foreigner visiting the US
Replies: 2
Views: 347

Re: Health insurance for foreigner visiting the US

Yes, for a month long visit she needs travel insurance. Whether it's cheaper to buy in her home country or from a US insurer, you'll have to check to find out. Her age and the prior condition may affect whether she can get the insurance and the cost of it. If I google the words "travel insuranc...
by asset_chaos
Wed May 24, 2017 11:37 am
Forum: Investing - Theory, News & General
Topic: Are all markets efficient?
Replies: 28
Views: 1906

Re: Are all markets efficient?

Are there markets today where alpha is still a realistic possibility? The US stock market. As Larry Swedroe used to frequently point out whenever active managers banged on about it being or not being a "stock pickers market", the dispersion of returns even in the S&P500 is huge every ...
by asset_chaos
Wed May 24, 2017 11:18 am
Forum: Investing - Theory, News & General
Topic: Are risk factors just ways to take on additional risk?
Replies: 36
Views: 2478

Re: Are risk factors just ways to take on additional risk?

Risk factors are things we generally want to avoid in life. But in the stock market we seek out risk, because risk is rewarded with higher returns. Is it fair to say that (risk) factor investing is just a way to take on more risk than market beta? I'd have said intelligent, thoughtful risk taking i...
by asset_chaos
Wed May 24, 2017 9:28 am
Forum: Investing - Theory, News & General
Topic: "The Problem With Factor Investing Research"
Replies: 58
Views: 3426

Re: "The Problem With Factor Investing Research"

duplin county wrote:Thanks for the article link. The article makes me think of the book - How to Lie with Statistics. Makes one reflect on behavioral economics.

It also makes one reflect on confirmation bias.
by asset_chaos
Wed May 24, 2017 9:26 am
Forum: Investing - Theory, News & General
Topic: Are all markets efficient?
Replies: 28
Views: 1906

Re: Are all markets efficient?

Would you want to invest in a truly inefficient market? It's one in which insiders have preferential information, preferential access. You're unlikely to be an insider, I know I am not.
by asset_chaos
Sat May 13, 2017 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: 100% Total International (0% US equity) for new investor?
Replies: 36
Views: 2930

Re: 100% Total International (0% US equity) for new investor?

I'm considering redeeming all TSM shares and exchanging them for Total International Index. Given that I've entered equity investing for the first time during all-time highs for the US Stock Market, should most if not all of my allocation be concentrated in Total International Index instead? You'll...
by asset_chaos
Fri May 12, 2017 12:01 am
Forum: Investing - Theory, News & General
Topic: What are the benefits of turning-off dividend reinvestment (and capital gains too)?
Replies: 15
Views: 2107

Re: What are the benefits of turning-off dividend reinvestment (and capital gains too)?

What are the benefits of shutting-off dividend/capital gains reinvestment to [old unwanted fund]? Seems like it limits the number of shares in the undesired mutual fund ... from increasing, which would potentially pull Asset Allocation off balance ... Have you heard the old saying, "If you're ...
by asset_chaos
Sat May 06, 2017 11:07 pm
Forum: Investing - Theory, News & General
Topic: DGSIX: Any other small-cap & value tilted 60/40 funds?
Replies: 10
Views: 1019

Re: DGSIX: Any other small-cap & value tilted 60/40 funds?

I'm unaware of any other small-value tilted, real life balanced fund. On the board there was at least one previous discussion on DGSIX/VSMGX, https://www.bogleheads.org/forum/viewtopic.php?f=10&t=144217&hilit=dgsix, in the context of market versus tilted balanced funds.
by asset_chaos
Sat May 06, 2017 4:38 pm
Forum: Investing - Help with Personal Investments
Topic: trying to transfer assets from a bank to Vanguard
Replies: 5
Views: 791

Re: trying to transfer assets from a bank to Vanguard

Number of years ago I had same situation. After the split of the assets into separate trust accounts, titled in our individual names, I gave Vanguard the name and phone number of the bank trust officer, and spoke with and wrote a letter confirming with the bank trust officer what I wanted to happen,...
by asset_chaos
Mon May 01, 2017 12:18 am
Forum: Investing - Theory, News & General
Topic: Arnott tells investors: You're doing it wrong
Replies: 8
Views: 2474

Re: Arnott tells investors: You're doing it wrong

Rob Arnott, ‘Godfather of Smart Beta,’ Tells Investors: You’re Doing It Wrong In a paper published earlier this month by Research Affiliates LLC, the investing firm he founded, Mr. Arnott questioned approaches including so-called momentum strategies, which buy stocks experiencing rapid price gains....
by asset_chaos
Fri Apr 21, 2017 5:19 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in Norway, Denmark and Sweden
Replies: 9
Views: 883

Re: Investing in Norway, Denmark and Sweden

What do you mean by wanting to "diversify a bit"? How are you invested now that additional investment in stock markets that are less than 2% of global market cap will bring meaningful diversification? Is it diversification you're interested in, or is a a speculative bet on markets you thin...
by asset_chaos
Fri Apr 21, 2017 12:14 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 336
Views: 41120

Re: Larry Swedroe says "Goodby."

I'll add my voice to those sorry to see Larry go. I almost always got something new and interesting from his posts. Thank you, good luck and God speed in future endeavors, Larry Swedroe.
by asset_chaos
Thu Apr 20, 2017 11:43 pm
Forum: Investing - Help with Personal Investments
Topic: Should I tilt to Country of Birth in asset allocation?
Replies: 11
Views: 1257

Re: Should I tilt to Country of Birth in asset allocation?

Would it make much difference to modestly overweight one's birth country stock market---or for that matter to modestly underweight it, as it appears you're doing now? The stock markets of all countries outside the US range from small (Japan, UK, circa 8% of global total) to tiny to infintesimal. So ...
by asset_chaos
Mon Apr 17, 2017 4:43 pm
Forum: Investing - Theory, News & General
Topic: Those that hold international equities at market-cap weight: what is your method?
Replies: 24
Views: 2847

Re: Those that hold international equities at market-cap weight: what is your method?

- Do you use a single index such as Vanguard Total World Stock Index (VTWSX)? - Do you hold U.S./International in separate indexes (such as VTSAX/VTIAX)? - If there is a need to rebalance, how often do you do this? What source do you use for the latest market weights? I use total world. As noted el...
by asset_chaos
Sat Apr 15, 2017 6:40 pm
Forum: Investing - Theory, News & General
Topic: Is it necessary to diversify across Factors?
Replies: 123
Views: 7873

Re: Is it necessary to diversify across Factors?

If you're investing, you're investing in factors, whether you know it or not, because factors are just a decomposition of the markets into sources of return and risk. If you invest in the stock market at all, you're invested in the market factor. A boglehead 3 fund portfolio diversifies factors by g...
by asset_chaos
Tue Mar 21, 2017 5:32 am
Forum: Personal Consumer Issues
Topic: Short visit to Hong Kong - "must do/see"?
Replies: 16
Views: 1465

Re: Short visit to Hong Kong - "must do/see"?

Some years back I was in HK for just one night (fly in after dinner, leave early next morning). I asked a long time HK ex-pat resident, given my time constraints, what was the one thing he recommend I do. His recommendation was to have a drink at the rooftop bar of the Peninsula Hotel. I did. It's e...
by asset_chaos
Tue Mar 07, 2017 7:07 pm
Forum: Investing - Help with Personal Investments
Topic: Is the Vanguard Balanced Index Fund all you need?
Replies: 58
Views: 10191

Re: Is the Vangaurd Balanced Index Fund all you need?

If 60/40 is already determined as the right split for you, then the number of ways to invest that are almost certainly worse than balanced index are essentially limitless, while the number of ways to invest that have a modest expectation of doing a little better on risk or return are limited. I'd pr...
by asset_chaos
Sat Mar 04, 2017 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Should the money earmarked for certain expenses be part of net worth?
Replies: 52
Views: 3765

Re: Should the money earmarked for certain expenses be part of net worth?

What's the problem with networth decreasing? You accumulate assets, they're part of your networth. You spend some of those assets, your networth decreases.
by asset_chaos
Thu Mar 02, 2017 11:04 pm
Forum: Personal Finance (Not Investing)
Topic: US expats abroad: should I buy health insurance even though I'm covered by employer?
Replies: 24
Views: 1595

Re: US expats abroad: should I buy health insurance even though I'm covered by employer?

Also, he said that if you buy into a plan when you are young the premiums will go up over time but not by as much as if you had bought into the plan at an older age. Is your friend by any chance Australian? That sounds somewhat like the stick the Australian government uses to encourage taking out p...
by asset_chaos
Thu Mar 02, 2017 3:38 am
Forum: Investing - Theory, News & General
Topic: Vanguard Group to Reimburse Clients After Website Outage
Replies: 6
Views: 2096

Re: Vanguard Group to Reimburse Clients After Website Outage

Don't trade, didn't notice. But good to see that when they mess up, they try to make amends some way.
by asset_chaos
Sat Feb 25, 2017 6:43 pm
Forum: Investing - Theory, News & General
Topic: Total World expense ratio lowered
Replies: 29
Views: 4653

Re: Total World expense ratio lowered

Pranav wrote:Is it tax-efficient to use Vanguard Total World ETF (VT) in a taxable account?

Total World has been as tax-efficient as any of Vanguard's total market type stock index funds.
by asset_chaos
Sat Feb 25, 2017 6:39 pm
Forum: Investing - Theory, News & General
Topic: Total World expense ratio lowered
Replies: 29
Views: 4653

Re: Total World expense ratio lowered

Why isn't it offered with Admiral Shares? Not enough investors? Vanguard data says as of end of January, total world investor shares have $1.2 billion, institutional $1.8 billion and total assets of $9.6 b. Only speculation, but with investor shares now over a billion in assets, perhaps that's a br...
by asset_chaos
Fri Feb 24, 2017 11:46 pm
Forum: Investing - Theory, News & General
Topic: Total World expense ratio lowered
Replies: 29
Views: 4653

Re: Total World expense ratio lowered

Total World also appears to be up to full replication of its benchmark:

Code: Select all

                    VTWSX    Benchmark    +/- Weight
Number of stocks    7,697    7,695               2