Search found 1157 matches

by asset_chaos
Wed May 24, 2017 11:37 am
Forum: Investing - Theory, News & General
Topic: Are all markets efficient?
Replies: 29
Views: 1285

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: 27
Views: 998

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: 2498

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: 29
Views: 1285

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: 2383

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: 1875

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: 824

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: 4
Views: 479

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: 2260

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: 741

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: 36671

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: 1119

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: 2448

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: 6873

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: 1290

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: 8790

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: 3381

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: 1376

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: 2007

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: 14
Views: 1900

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: 14
Views: 1900

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: 14
Views: 1900

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
by asset_chaos
Thu Feb 23, 2017 6:44 pm
Forum: Investing - Theory, News & General
Topic: Credit Suisse Yearbook 2017
Replies: 27
Views: 2443

Re: Credit Suisse Yearbook 2017

Unlike past years, the 2017 yearbook available online is just a summary. At the back of the summary under "Imprint" there is To receive a copy of the Yearbook: The Credit Suisse Global Investment Returns Yearbook 2017 is distributed to Credit Suisse clients by the publisher, and to non-cl...
by asset_chaos
Sun Feb 19, 2017 7:19 pm
Forum: Investing - Help with Personal Investments
Topic: 100% Stock Portfolio? - 20s Military Investor
Replies: 13
Views: 1429

Re: 100% Stock Portfolio? - 20s Military Investor

While all stock for someone in their 20s is not entirely unreasonable, I suggest taking the opportunity to acquire experience may be advisable. One day, probably sooner than you expect, you'll want or need a significant amount of bonds. It is, I believe, worth while to experience firsthand---viscera...
by asset_chaos
Sun Feb 19, 2017 7:05 pm
Forum: Investing - Help with Personal Investments
Topic: Australia - Please help me with my first portfolio
Replies: 12
Views: 928

Re: Australia - Please help me with my first portfolio

What would be a good ETF portfolio to setup from Australia? I am mindful that our market is quite small and it is also dominated by the financial sector, so what would be a smart way of doing a 3 to 4 eft portfolio to be well diversify, have stable growth and be tax efficient? Note that it could be...
by asset_chaos
Fri Feb 10, 2017 4:06 pm
Forum: Investing - Theory, News & General
Topic: Diversification Benefit of a specific asset class
Replies: 10
Views: 923

Re: Diversification Benefit of a specific asset class

I think looking at correlations to other individual funds isn't the right approach. What you want is to calculate a Sharpe ratio for your entire portfolio with and without the asset class in question and see if it's improving the portfolio level risk-return characteristics. Sharpe ratio over what h...
by asset_chaos
Mon Feb 06, 2017 3:28 pm
Forum: Investing - Theory, News & General
Topic: Diversification Benefit of a specific asset class
Replies: 10
Views: 923

Re: Diversification Benefit of a specific asset class

I think looking at correlations to other individual funds isn't the right approach. What you want is to calculate a Sharpe ratio for your entire portfolio with and without the asset class in question and see if it's improving the portfolio level risk-return characteristics. I don't know if portfolio...
by asset_chaos
Sat Jan 21, 2017 4:29 pm
Forum: Investing - Theory, News & General
Topic: What are the global market cap weights today?
Replies: 15
Views: 1743

Re: What are the global market cap weights today?

Does the argument that "Emerging Markets are underweight" hold any merit? Something about floated shares and government controlled shares. Burton Malkiel says EM ought to be closer to 10-15% of a portfolio. The way Vanguard (or FTSE) defines emerging market puts its global weight at 8-9 p...
by asset_chaos
Sat Jan 21, 2017 3:59 pm
Forum: Investing - Theory, News & General
Topic: What are the global market cap weights today?
Replies: 15
Views: 1743

Re: What are the global market cap weights today?

I would like to follow the market weightings so I don't make any biases or bets. However, I know Bogle and others say to overweight the US if you live here. Does that hold merits? My stock investments are close to global market weight, but my total portfolio is still tilted to the US because all my...
by asset_chaos
Wed Jan 18, 2017 4:19 pm
Forum: Personal Consumer Issues
Topic: Anyone rent toys?
Replies: 27
Views: 3107

Re: Anyone rent toys?

I've never tried toy rental, but for many years we used a toy library cooperative in our area. Pay an annual fee, work a Saturday morning shift now and again in exchange for borrowing plenty of toys. (And yes, a lot of the work was cleaning and sanitizing returns.) It worked well for us. Does a toy ...
by asset_chaos
Fri Jan 13, 2017 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: Quandry: Rebalance or Avoid Taxes
Replies: 4
Views: 428

Re: Quandry: Rebalance or Avoid Taxes

Yes, it is a quandary: incur certain cost today in order to save an unknown amount of investment loss at an uncertain time in the future. But how much difference can it make? Sell $1000 worth of stocks today with 100% gain implies $500 long cap gain, taxed at say 15% (or put in your own tax info) eq...
by asset_chaos
Sat Jan 07, 2017 9:53 pm
Forum: Investing - Theory, News & General
Topic: Discussion about securities lending and how it affects performance
Replies: 21
Views: 1555

Re: Discussion about securities lending and how it affects performance

I've seen securities lending discussed on here a few threads but I don't see a topic that has discussed it in detail. I want to take a closer look on how it affects performance and reduces the actual fees of the fund. As I'm guilty of starting one of those threads https://www.bogleheads.org/forum/v...
by asset_chaos
Sat Jan 07, 2017 9:03 pm
Forum: Investing - Theory, News & General
Topic: Emergency fund of a different kind [funds held outside of US]
Replies: 53
Views: 2654

Re: Emergency fund of a different kind [funds held outside of US]

I want the freedom to get on a plane, leave the country, and have access to this money and start over. How would you do this? Forget access to the bolt-hole money, how will you ensure visa/citizenship entry to these other countries during the time of hypothetical social collapse of such magnitude t...
by asset_chaos
Sat Jan 07, 2017 1:11 am
Forum: Investing - Theory, News & General
Topic: Can someone explain Vanguard's higher turnover rates vs Index Funds?
Replies: 22
Views: 2173

Re: Can someone explain Vanguard's higher turnover rates vs Index Funds?

I don't know how to run a bond index fund and personally wouldn't be inclined to second guess the professionals that do. But if I wanted to check on the results, the ultimate test is, how well is the fund tracking the index it's supposed to? If a fund has high turnover that costs the fund a lot, tha...
by asset_chaos
Thu Jan 05, 2017 11:36 pm
Forum: Personal Consumer Issues
Topic: Is Iphone/Ipad fingerprint signin reasonably secure?
Replies: 57
Views: 4521

Re: Is Iphone/Ipad fingerprint signin reasonably secure?

I'm not a fan of the fingerprint id for logins. I can change passwords, but, if for any reason now or in the future, my fingerprint is compromised, I can't change it ever.
by asset_chaos
Fri Dec 30, 2016 9:27 pm
Forum: Investing - Theory, News & General
Topic: "Stock Returns May Not Be What They Seem"
Replies: 5
Views: 1446

Re: "Stock Returns May Not Be What They Seem"

Yes, I noticed this fine article earlier today. I'll repeat the comment I left below the article because Rekenthaler makes an excellent and generally unobserved point, about which M* itself could show more leadership: "I agree about the oddity of using price only indices, but um, what do the ma...
by asset_chaos
Wed Dec 28, 2016 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Annual Shareholder Reports
Replies: 3
Views: 551

Re: Vanguard Annual Shareholder Reports

Most of the pages are a listing of the fund's individual security holdings. I download reports as pdfs; if I'm unusually curious about a particular holding, I search for the name. I read the CEO's commentary, but as it's nearly the same for all the reports, I only read it once. Other things I glance...
by asset_chaos
Wed Dec 28, 2016 5:03 pm
Forum: Investing - Theory, News & General
Topic: ETFs a double edged sword, a review of a new paper on them
Replies: 6
Views: 1207

Re: ETFs a double edged sword, a review of a new paper on them

But a fund can't do the impossible, regulations or no, so presumably for big liquidity problems the fund reaches a breaking point ... Isn't this when a fund could or would use redemption in kind provisions to transfer these liquidity problems to the fund holder(s) wanting to redeem? I suspect that ...
by asset_chaos
Tue Dec 27, 2016 6:16 pm
Forum: Investing - Help with Personal Investments
Topic: Moving from VTI+VXUS to VT (super lazy portfolio)
Replies: 8
Views: 1360

Re: Moving from VTI+VXUS to VT (super lazy portfolio)

What's the best way to switch an entire portfolio? If I sell all of my VTI/VXUS now and buy VT, I get hit with capital gains tax now ... An option---no guarantee that it's best---is to not switch all right away. Leave the VTI/VSUS as is. Direct fresh savings and all stock dividends to VT. In other ...
by asset_chaos
Sun Dec 25, 2016 4:12 pm
Forum: Investing - Theory, News & General
Topic: Is Vanguard World Stock Fund the best representation?
Replies: 7
Views: 1245

Re: Is Vanguard World Stock Fund the best representation?

As far as weighting developed and emerging markets properly, VT does a good job? Some on the forum at EM should have a larger share in the world markets, but do not because of floated shares. I guess that would be my only question about underweighting. The governments of emerging markets countries ...
by asset_chaos
Thu Dec 22, 2016 4:36 pm
Forum: Investing - Theory, News & General
Topic: Is rebalacing only about risk?
Replies: 66
Views: 4029

Re: Is rebalacing only about risk?

While I think it is possible for rebalancing to result in higher personal returns (buy low, sell high), I also think the only thing one can definitely count on from rebalancing is the maintenance of a reasonably constant portfolio risk profile. If higher returns eventuate, great; if not, still a goo...
by asset_chaos
Tue Dec 13, 2016 11:15 pm
Forum: Investing - Theory, News & General
Topic: Why not own every stock sector & rebalance?
Replies: 26
Views: 2147

Re: Why not own every stock sector & rebalance?

asset_chaos wrote:In principle I suppose there could be, but several factors militate against this approach. First, ...

Clearly I really like this statement. Sorry for the many duplicate posts. I don't know what happened.
by asset_chaos
Mon Dec 12, 2016 3:44 pm
Forum: Investing - Theory, News & General
Topic: Why not own every stock sector & rebalance?
Replies: 26
Views: 2147

Re: Why not own every stock sector & rebalance?

Why not buy funds/etfs which cover all the sectors of the US stock market and rebalance as needed, as opposed to just buying the total market? Aren't there benefits of being able to rebalance sectors? In principle I suppose there could be, but several factors militate against this approach. First, ...
by asset_chaos
Mon Dec 12, 2016 3:43 pm
Forum: Investing - Theory, News & General
Topic: Why not own every stock sector & rebalance?
Replies: 26
Views: 2147

Re: Why not own every stock sector & rebalance?

I assume there are good reasons most everyone on this forum suggests the US total stock market over all the sectors, but I'd appreciate hearing those reasons if anyone would share. Why not buy funds/etfs which cover all the sectors of the US stock market and rebalance as needed, as opposed to just ...
by asset_chaos
Mon Dec 12, 2016 3:43 pm
Forum: Investing - Theory, News & General
Topic: Why not own every stock sector & rebalance?
Replies: 26
Views: 2147

Re: Why not own every stock sector & rebalance?

Why not buy funds/etfs which cover all the sectors of the US stock market and rebalance as needed, as opposed to just buying the total market? Aren't there benefits of being able to rebalance sectors? In principle I suppose there could be, but several factors militate against this approach. First, ...
by asset_chaos
Mon Dec 12, 2016 3:40 pm
Forum: Investing - Theory, News & General
Topic: Why not own every stock sector & rebalance?
Replies: 26
Views: 2147

Re: Why not own every stock sector & rebalance?

Why not buy funds/etfs which cover all the sectors of the US stock market and rebalance as needed, as opposed to just buying the total market? Aren't there benefits of being able to rebalance sectors? In principle I suppose there could be, but several factors militate against this approach. First, ...
by asset_chaos
Tue Dec 06, 2016 4:40 am
Forum: Investing - Theory, News & General
Topic: What does Dave Ramsey mean by "ride the wave"
Replies: 29
Views: 5667

Re: What does Dave Ramsey mean by "ride the wave"

There is a tide in the affairs of men. Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life Is bound in shallows and in miseries. says Brutus in Julius Ceasar, urging bold action, when Cassius wants to be more cautious. However, if memory serves, Brutus and Cassius ...
by asset_chaos
Thu Nov 24, 2016 4:25 am
Forum: Investing - Theory, News & General
Topic: How often do you hit your rebalancing bands?
Replies: 31
Views: 2734

Re: How often do you hit your rebalancing bands?

Hard rebalances at 1999, 2003, 2009, 2016. I have two rebalancing points, a soft one and a hard one. At the soft point I turn on the auto dividend direction from what's high to what's low; the soft band is breached reasonably often, almost every year. At the hard point, it's gotten so far off that I...
by asset_chaos
Thu Nov 24, 2016 3:59 am
Forum: Personal Consumer Issues
Topic: Do you use quick wash when using your dishwasher?
Replies: 29
Views: 3701

Re: Do you use quick wash when using your dishwasher?

We typically use the energy/water saver setting that takes about 15 minutes longer than the standard cycle; it produces clean dishes to my eye. But, since our dishwasher is full every day after dinner, as long as the cycle finishes before breakfast the next morning, I don't care how long it takes. T...
by asset_chaos
Sun Nov 13, 2016 2:44 pm
Forum: Investing - Theory, News & General
Topic: Invesco Ad in This Weekend's WSJ
Replies: 10
Views: 1497

Re: Invesco Ad in This Weekend's WSJ

I think it's evidence that makes for "high conviction" investing. That's why my high conviction investing is done through low cost, highly diversified index funds.

PS---Did anyone else read "high conviction investing" and think of Bernie Madoff?

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