Search found 1198 matches

by asset_chaos
Sat Nov 18, 2017 4:56 am
Forum: Investing - Help with Personal Investments
Topic: Does Vanguard hunt down overseas investors?
Replies: 8
Views: 1426

Re: Does Vanguard hunt down overseas investors?

Thank you, good to know. However, in 20+ years of living abroad, I've never had withholding happen.
by asset_chaos
Fri Nov 17, 2017 7:06 pm
Forum: Investing - Help with Personal Investments
Topic: Does Vanguard hunt down overseas investors?
Replies: 8
Views: 1426

Re: Does Vanguard hunt down overseas investors?

The article claims the worries are not about US regulations but from regulators in other countries. I hadn't heard of this as a big issue before, but from the point of view of the foreign countries, they would have the same worries as the IRS about their residents using overseas accounts to hide mon...
by asset_chaos
Tue Nov 14, 2017 5:19 pm
Forum: Personal Consumer Issues
Topic: Did you want to set up a payment plan for that?
Replies: 19
Views: 2337

Re: Did you want to set up a payment plan for that?

I figure anything they're pushing me towards is meant to somehow, on average benefit the company at my expense. Since I don't want to spend time to figure out where the 'gotcha' might lie, I always decline such offers.
by asset_chaos
Tue Nov 14, 2017 5:00 pm
Forum: Investing - Theory, News & General
Topic: Passive investing is a 'chaotic system' that could be dangerous?
Replies: 20
Views: 1731

Re: Passive investing is a 'chaotic system' that could be dangerous?

I just started a thread here https://www.bogleheads.org/forum/viewtopic.php?f=10&t=232300 on an article from the Economist that could have been written as a rebuttal to some of the gripes in Schiller's interview. And there are several other threads debunking this kinds of complaints about index funds.
by asset_chaos
Tue Nov 14, 2017 4:48 pm
Forum: Investing - Theory, News & General
Topic: Criticism of index-tracking funds is ill-directed
Replies: 3
Views: 552

Criticism of index-tracking funds is ill-directed

Article from the Economist rebutting a couple of the standard industry gripes about index funds, https://www.economist.com/news/business-and-finance/21731333-criticism-index-tracking-funds-ill-directed . In any other industry, [money going into index funds] would be universally welcomed as a sign th...
by asset_chaos
Sun Nov 12, 2017 10:57 pm
Forum: Investing - Theory, News & General
Topic: Should you own only non-U.S. stocks?
Replies: 63
Views: 6122

Re: Should you own only non-U.S. stocks?

According to Rob Arnott's group, Research Affiliates What did they predict in the past? Were they correct? I just did a quick google search and I'm not finding a lot of their old predictions. They run a market timing---excuse me, tactical allocation---fund for PIMCO, PAUPX. M*'s fund front page say...
by asset_chaos
Sun Nov 05, 2017 7:13 pm
Forum: Investing - Theory, News & General
Topic: Does Blackrock think it's all a game?
Replies: 33
Views: 4720

Re: Does Blackrock think it's all a game?

Unfortunately this theme of gamification is moving into lots of places that we used to consider serious, education, health, finance. People have noticed how effective gambling machines and video games are at keeping people's attention, so other areas are trying the same tactics.
by asset_chaos
Sat Oct 21, 2017 5:20 pm
Forum: Investing - Theory, News & General
Topic: 401k "only" up 13.5% YTD
Replies: 26
Views: 2634

Re: 401k "only" up 13.5% YTD

"Being fully diversified means always having to say you're sorry." :happy You don't have to cherry-pick the sorrow. You could also cherry-pick the glee. Well diversified portfolios always contain both the best performing and worst performing segments of the market, no matter how you care to segment...
by asset_chaos
Sat Oct 21, 2017 5:13 pm
Forum: Investing - Theory, News & General
Topic: 401k "only" up 13.5% YTD
Replies: 26
Views: 2634

Re: 401k "only" up 13.5% YTD

As a general benchmark, I keep a M* tracking portfolio for the global total stock/bond markets, approximated with Vanguard index funds and initially weighted with Sharpe's method ( https://web.stanford.edu/~wfsharpe/RISMAT/ ). As of this writing, it's about 57% stocks, has a ytd return of nearly 13%...
by asset_chaos
Sat Oct 14, 2017 5:18 pm
Forum: Investing - Theory, News & General
Topic: Which would you rather own: AAPL or S&P 600 Small Cap Index?
Replies: 57
Views: 3425

Re: Which would you rather own: AAPL or S&P 600 Small Cap Index?

If you could only hold Apple and the bottom 1000 stocks in TSM, would you hold them at market weight? Sounds like Finland when Nokia was well above half of total Finnish market cap. Should I find myself in such a situation, the answer for me would be to expand my thinking to the total global stock ...
by asset_chaos
Sun Oct 01, 2017 5:36 pm
Forum: Investing - Theory, News & General
Topic: Thoughts on GAA or GAL (Global Asset Allocation ETFs)?
Replies: 3
Views: 368

Re: Thoughts on GAA or GAL (Global Asset Allocation ETFs)?

In his RISMAT book ( web.stanford.edu/~wfsharpe/RISMAT/ ) Sharpe lists four Vanguard funds (the "total" market funds for stocks and bonds) that he uses in the book to approximate holding the global stock/bond portfolio. A glance at the holdings of GAA ( http://www.cambriafunds.com/gaa.aspx ) does no...
by asset_chaos
Sat Sep 30, 2017 5:18 pm
Forum: Investing - Theory, News & General
Topic: Bloomberg: Smart Beta Debate Sparks Identity Crisis at Vanguard
Replies: 15
Views: 2670

Re: Bloomberg: Smart Beta Debate Sparks Identity Crisis at Vanguard

Identity crisis seems an odd way to put it. Vanguard's quantitative equity group, which has been around for more than a little while, runs factor funds but, it appears, only in the UK so far. And Vanguard is not wishy-washy in their descriptive language about these factor funds: they are active fund...
by asset_chaos
Tue Sep 26, 2017 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in ETFs MSCI World + MSCI Emerging Market [Germany]
Replies: 18
Views: 1267

Re: Investing in ETFs MSCI World + MSCI Emerging Market [Germany]

See if you can use the MSCI Core World and Core Emerging markets etfs instead. Exactly the same investment at a substantially lower management fee. The 1.5% brokerage fee seems like it could be lower too, bu I don't know enough about European brokerage choices to recommend alternatives. Check out Bo...
by asset_chaos
Sat Sep 09, 2017 4:36 pm
Forum: Investing - Theory, News & General
Topic: Boglehead investing in Spain -- a forum thread
Replies: 8
Views: 1717

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: 1727

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: 6111

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: 1993

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: 1993

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: 4894

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: 5130

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: 5130

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: 3050

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: 42
Views: 7152

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: 35
Views: 4229

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: 35
Views: 4229

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: 2436

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: 482

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: 893

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: 953

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: 7212

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: 310

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: 537

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: 302

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: 862

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: 388

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: 7350

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: 3070

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: 3070

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: 3070

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: 17225

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: 376

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 insurance" I ...
by asset_chaos
Wed May 24, 2017 11:37 am
Forum: Investing - Theory, News & General
Topic: Are all markets efficient?
Replies: 28
Views: 2051

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 year, around 3...
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: 2700

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: 3731

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: 2051

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: 3066

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: 2187

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 in a ...
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: 1070

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, 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: 819

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: 2503

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....