Search found 765 matches

by cb474
Sat Jan 09, 2016 8:26 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Listen. You are giving your opinion on currency risk here, it is not a topic with conclusive proof, and others have presented with plenty of counterarguments. I'm asking specifically about others' experiences with currency-hedged ETFs, not whether you think the product is necessary. Adults can disa...
by cb474
Sat Jan 09, 2016 3:30 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Is anyone here using a currency-hedged international etf like HEMA/DBAW/HAWX/etc. for their international allocation? I found a paper https://www.aqr.com/~/media/files/papers/aqr-risk-without-reward-the-case-for-strategic-fx-hedging.pdf whose summary says: "We show that foreign currency exposu...
by cb474
Fri Jan 08, 2016 3:28 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Is anyone here using a currency-hedged international etf like HEMA/DBAW/HAWX/etc. for their international allocation? I found a paper https://www.aqr.com/~/media/files/papers/aqr-risk-without-reward-the-case-for-strategic-fx-hedging.pdf whose summary says: "We show that foreign currency exposu...
by cb474
Wed Jan 06, 2016 5:35 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

... In the 1970s and 80s U.S. equity markets correlated more highly to international equity markets, than from the 1990s to the present. So correlations have been getting lower, not higher. ... Where is that data coming from? The data on Portfolio Visualizer implies International only had a 0.56 co...
by cb474
Wed Jan 06, 2016 3:36 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

I don't really by the "Americanism" argument, since domestic bias is consistent among investors of all countries. People tend to prefer to invest in whatever country they live in. But certainly the argument you make about the U.S. economy can not be made about most countries (not any other...
by cb474
Tue Jan 05, 2016 8:21 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Agreed. A few people may be only investing in poorly run 401k with lousy choices, but in general many have good low cost options. Personally I am close to market weight. Currency issues were not my friend this year, but some other year may make me happy - time will tell. I try to do market weight a...
by cb474
Mon Jan 04, 2016 8:37 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Currency risk (which I think is real and not in general rewarded like market risk, others disagree) and investing costs including taxes can be different for different investors and so even if one does believe in MPT one might not want to invest in stocks at global cap weight. I take your point and ...
by cb474
Mon Jan 04, 2016 5:00 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

I buy Vanguard Total world fund. To me it is the ultimate realization of passive "own the market" investing - at least for equities. I see no reason to over-weight any country over another. I also believe the currency question is overblown. Yes, that's right about currency. The currency r...
by cb474
Sun Jan 03, 2016 2:41 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

I buy Vanguard Total world fund. To me it is the ultimate realization of passive "own the market" investing - at least for equities. I see no reason to over-weight any country over another. I also believe the currency question is overblown. Yes, that's right about currency. The currency r...
by cb474
Sat Jan 02, 2016 4:35 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

This thread will be revisited at the end of the year. Here we are at the end of the year and international is down -6.43% YTD. Could Bogle and Buffett be right? No. Taylor, thanks for that original link to Jack's comments on International. He has never said it "any plainer" than that. 50%...
by cb474
Wed Nov 18, 2015 4:10 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard auto exchange
Replies: 6
Views: 1114

Re: Vanguard auto exchange

It appears as if this function has been removed for those of us "upgraded" to brokerage accounts, unless I'm just missing it. Vanguard rep confirms. Can anyone here confirm this? Looks like I will have to mail in this TLH trade. People have been saying in the thread about the "upgrad...
by cb474
Tue Sep 29, 2015 7:35 pm
Forum: Investing - Theory, News & General
Topic: To ETF or Not to ETF
Replies: 92
Views: 42107

Re: To ETF or Not to ETF

I wonder what the logic is for counting family members who reside at the same address?
by cb474
Tue Aug 25, 2015 12:39 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Jack Bogle: I Wouldn't Risk Investing Outside the U.S I won't be buying any foreign stocks for some time so there should be more for you. Enjoy. :beer As I keep saying, this has all already been discussed above in the thread (on the first page) in much greater detail, it would behoove anyone truly ...
by cb474
Mon Aug 24, 2015 1:05 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

InvestorNewb: Jack Bogle speaks about International Investing in this recent video posted by SailingAway: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=156734&newpost=2351679 I intend to stay-the-course with about 30% of equity in my international stock fund. Best wishes. Taylor Yes...
by cb474
Sun Aug 23, 2015 4:22 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

I don't consider owning the entire domestic market and its thousands of stocks to be "one basket". Perhaps many baskets, but in the same barn? Depends on what you are looking at. That one basic has all the same currency and soveign risk (guess what those apply to the US as much as they do...
by cb474
Sat Aug 22, 2015 12:24 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Total Returns YTD: Total Stock: -2.27% Total International Stock: -4.01% International is now lower than when I lump summed all of my cash into it in December 2012. What a farce. In April Vanguard was hot on foreign, they increased the holding in balanced funds. How about that market timing. :annoy...
by cb474
Thu Jul 16, 2015 8:55 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

Your post does not sound arrogant or disrespectful, so no worries, no apology necessary. That said, although the discussion of the British Empire, the U.S., geography, and wealth is interesting, I find it to be highly speculative and not relevant, when it comes to predicting future equity market ret...
by cb474
Thu Jul 16, 2015 1:50 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

But comparing a continent spanning global super power to an island nation that is a regional power is apples to oranges. ETA: The above is not meant in any kind of political context, but instead a fundamental analysis of the host countries of various stock markets. Not unlike one might look at the ...
by cb474
Wed Jul 15, 2015 6:25 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

As a US-centric investor....I am reading about currency risk. The answer to the OP question seems to come down to 'whither the dollar?' On the other hand, Larry Swedroe says that currency risk is another mode of diversification, that changes in the value of one's currency both help and hurt you so ...
by cb474
Mon Jun 29, 2015 2:39 am
Forum: Investing - Theory, News & General
Topic: dow futures down 200+ points
Replies: 84
Views: 10964

Re: dow futures down 200+ points

down 1.1%? yawn. double yawn. Good night. In principle I agree. But every month I make a contribution to my investments and this month it happened to be in an international fund. I did that at the beginning of last week. If the market was going to go down 4 or 5%, which is more what it's like inter...
by cb474
Fri Jun 05, 2015 5:25 pm
Forum: Investing - Theory, News & General
Topic: Ultimate Buy and Hold - 8 slices vs 4
Replies: 681
Views: 269035

Re: Ultimate Buy and Hold - 8 slices vs 4

This is truly an epic thread. Thanks to all who've contributed and I won't even pretend that I fully understand some of the subtleties involved. My question is this (and I hope it's the appropriate place for it): given all of the recent changes in the composition of Vanguard's international funds w...
by cb474
Thu Jan 29, 2015 4:23 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

checked portfoliovisualizer for sanity check and different calculation, total US vs. EAFE, and get annual correlation of 0.91 since 2001 (earliest point it gives), monthly of 0.88. post Y2K results biased by the bear markets, but still. Or what did I miss? Serious question. Yes, I think what you're...
by cb474
Wed Jan 28, 2015 9:21 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

This is not the only reason. In John Bogle's book Common Sense on Mutual funds he goes into detail on Currency Risk and Sovereign risk. If you have not read that section in Jack's book, read The Global Portfolio Extreme, Currency Risk and Returns, The Global Efficient Frontier and International Eco...
by cb474
Wed Jan 28, 2015 1:41 am
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Short-term volatility vs. long-term return?

With all due respect to Bogle, the idea that multinational U.S. companies provide international diversification has been pretty well debunked by Larry Swedroe. But given how often this idea rears its head in this forum, I suspect it's a truism that may never die. "Debunked" or not, invest...
by cb474
Tue Jan 27, 2015 10:27 pm
Forum: Investing - Theory, News & General
Topic: Asness - The Small-Firm Effect Is Real, and It’s Spectacular
Replies: 62
Views: 8812

Re: Asness - The Small-Firm Effect Is Real, and It’s Spectac

. Since the inception of the Bridgeway fund BRSIX 7/31/1997 - 12/31/2014 - annualized return 11.8% = CRSP10 (Benchmark for BRSIX) 11.5% = Brirdgeway Ultra-small Co. Mkt (BRSIX) 10.0% = DFA US Microcap (DFSCX) 8.6% = Vanguard Small Cap Index (NAESX) 6.4% = Vanguard 500 (VFINX) http://quotes.mornings...
by cb474
Tue Jan 27, 2015 10:11 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

I have 25% international per my IP. I agree that international looks good now, but for different reasons than you, OP. Valuation-wise, it's BEEN a good value relative to the US in my opinion over the last year or so. I think relative performance over less than 1 month is basically irrelevant. I'm s...
by cb474
Tue Jan 27, 2015 9:36 pm
Forum: Investing - Theory, News & General
Topic: Are any US-only investors having 2nd thoughts?
Replies: 123
Views: 19253

Re: Are any US-only investors having 2nd thoughts?

John Bogle still feels a U.S. investor gets plenty of international diversification by holding the S&P or the Total Market Index. With all due respect to Bogle, the idea that multinational U.S. companies provide international diversification has been pretty well debunked by Larry Swedroe. But g...
by cb474
Wed Dec 31, 2014 4:38 am
Forum: Investing - Theory, News & General
Topic: Bonds go in taxable (whitecoatinvestor aka EmergDoc article)
Replies: 155
Views: 19703

Re: Bonds go in taxable (whitecoatinvestor aka EmergDoc arti

Let's take a step back here. The essential point being made is that where one places stock changes reward and also risk, just as asset allocation changes risk and reward. Then it's true that shortfall risk is relevant, just as it is relevant to asset allocation. If you've got bonds in Roth then if ...
by cb474
Tue Dec 30, 2014 8:33 pm
Forum: Investing - Theory, News & General
Topic: Bonds go in taxable (whitecoatinvestor aka EmergDoc article)
Replies: 155
Views: 19703

Re: Bonds go in taxable (whitecoatinvestor aka EmergDoc arti

I'm not sure I buy that there is more risk by putting stocks in Roth. What risk, exactly, do you think there is more of? I would submit that for many people under assumptions reasonable in current conditions that there is higher shortfall risk by putting stocks in taxable (because your portfolio gr...
by cb474
Sun Dec 21, 2014 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Regulatory guidance - occupation information requirement
Replies: 29
Views: 4247

Re: Regulatory guidance - occupation information requirement

Agree here and with others that the bank is protecting itself so it does make sense - to the bank. The problem is that as it's written, it makes little or no sense to their customers. For the bank, it's a win-win, possibly even if they don't get the customer info sought, since the more important mo...
by cb474
Sat Dec 20, 2014 4:23 am
Forum: Personal Finance (Not Investing)
Topic: Regulatory guidance - occupation information requirement
Replies: 29
Views: 4247

Re: Regulatory guidance - occupation information requirement

This thread is specifically about the bank requesting generic occupation information. Think about it for a moment. Do you have your paychecks cashed or deposited there? Have you ever cashed or deposited a reimbursement check from your employer there? If so, they could very easily just employ data m...
by cb474
Wed Dec 17, 2014 4:12 am
Forum: Personal Finance (Not Investing)
Topic: Regulatory guidance - occupation information requirement
Replies: 29
Views: 4247

Re: Regulatory guidance - occupation information requirement

As dm200 said, this is part of stricter "Know Your Customer" requirements that are coming into place for financial institutions. You will find information by searching on that term, both here and on the Internet in general. Here's a quick list of some of the relevant past threads from her...
by cb474
Wed Dec 17, 2014 4:03 am
Forum: Personal Finance (Not Investing)
Topic: Regulatory guidance - occupation information requirement
Replies: 29
Views: 4247

Re: Regulatory guidance - occupation information requirement

I agree with those who question this, especially the money-laundering reference. My question is what exactly is the occupation information requested? Also suggest you contact someone at USAA to verify they sent it and why and whether it is required or simply being requested, the latter meaning you ...
by cb474
Tue Dec 16, 2014 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Regulatory guidance - occupation information requirement
Replies: 29
Views: 4247

Re: Regulatory guidance - occupation information requirement

I get the logic of why this information might be helpful to some agenices. But it still seems intrusive to me. I'm tired of having to give more and more information about myself to every business and government agency that feels like they want it. Just because the information might be useful, doesn'...
by cb474
Tue Dec 16, 2014 1:55 am
Forum: Personal Finance (Not Investing)
Topic: Regulatory guidance - occupation information requirement
Replies: 29
Views: 4247

Re: Regulatory guidance - occupation information requirement

Is this a requirement or just a "request" as the statement says? Who is the regulator in question anyway? it's such a vague official sounding statement, with no clear details or links to what it's about. And what's the point of it anyway? Is it really about money laundering? How does it he...
by cb474
Sat Dec 13, 2014 5:13 am
Forum: Investing - Theory, News & General
Topic: Don't Peek [at Your Portfolio Balance]
Replies: 33
Views: 4304

Re: Don't Peek

There are surely tens of thousands if not hundreds of thousands of Vanguard customers (my parents and wife included) who have NEVER looked at their accounts online. They simply look at the quarterly statements sent to them by Vanguard and then file them away. Surely that doesn't violate Vanguard's ...
by cb474
Fri Dec 12, 2014 9:04 pm
Forum: Investing - Theory, News & General
Topic: Don't Peek [at Your Portfolio Balance]
Replies: 33
Views: 4304

Re: Don't Peek [at Your Portfolio Balance]

My goal is to update my spreadsheet quarterly and no more. I also save quarterly statements. But it seems this 'hands off' approach is at odds with the need to monitor accounts closely for fraud, etc. Yeah, for the impulsive, unfortunately, I think it's a real risk not to monitor your account at le...
by cb474
Fri Dec 12, 2014 8:20 pm
Forum: Investing - Theory, News & General
Topic: Don't Peek [at Your Portfolio Balance]
Replies: 33
Views: 4304

Re: Don't Peek

I think the don't peek advice is good advice for people who have trouble controlling impulses that might interfere with their investments plans. And it might save you from some sleepless nights and unnessary stress as well. But, keep in mind that part of Vanguard's terms of service, for reimbursing ...
by cb474
Fri Dec 12, 2014 8:03 pm
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

I think all of your other advice is great, except the statement that a VPN will encrypt all data could be misleading. My organization uses split tunneling so only traffic to the servers in the organization is encrypted through the VPN. After reading the OP, it could make me believe that I was fine ...
by cb474
Fri Dec 12, 2014 5:18 am
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

FYI, all servers at investor.vanguard.com and vanguard.com appear to be updated for the bug now.
by cb474
Fri Dec 12, 2014 4:46 am
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

Since the IT people who set this stuff up often do a mediocre job with security, it is also possible to remotely exploit bugs in router firmware and take them over to remotely deploy man in the middle attacks I also think that the routers in the backbone of our ISPs and the internet in general are ...
by cb474
Thu Dec 11, 2014 11:21 pm
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

It is far more difficult and requires far more knowledge to hack into the core routers and the IP subnet. There are safeguards in place to prevent routing hijacking and that part of the infrastructure gets a little more attention than your average network. Yes, it would be a remote attack and it wo...
by cb474
Thu Dec 11, 2014 10:43 pm
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

As far as I understand, the only way you can be subject to this attack is through a man in the middle attack, when you're connected to to a wifi hotspot or unsecured router. So never access your Vanguard account from a cafe or hotel or any public wifi (unless you're using a VPN) . Even if you use a...
by cb474
Thu Dec 11, 2014 9:58 pm
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

Not sure what your point is. My point was that this thread is overflowing with wifi security talk, when it's much more likely the bad guys would execute such an attack at an ISP or Internet core routing point. I highly doubt a Russian cyber crime perpetrator is going to fly to your house, sit in yo...
by cb474
Wed Dec 10, 2014 3:30 am
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

Just an FYI, WEP does have encryption, it's just such poor a encryption scheme that it can be trivially broken by observing the encrypted traffic. After observing enough traffic, one can recover the key. Once the attacker has the key, everything can be decrypted. So it's the equivalent of an unencr...
by cb474
Tue Dec 09, 2014 4:46 am
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

OK I got it. I had assumed clicking on the address link would take me to the site but it goes to the report! The guide wasn't clear ... https://www.ssllabs.com/downloads/SSL_Server_Rating_Guide.pdf Ah, yes, you have to click on the address link. I understand many of the technical things in the Qual...
by cb474
Tue Dec 09, 2014 4:25 am
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

Re: New HTTPS security bug, Vanguard servers vulnerable

Schwab was reported as a "B" - not that I really know what that means... You can read the whole long report the site produces and see what it means. Then look up things you don't understand. As far as this bug goes, you need to scroll down to near the bottom of the report and look for a l...
by cb474
Tue Dec 09, 2014 2:38 am
Forum: Investing - Theory, News & General
Topic: New HTTPS security bug, Vanguard servers vulnerable[Patched]
Replies: 39
Views: 5143

New HTTPS security bug, Vanguard servers vulnerable[Patched]

There's a new version of the Poodle security bug that effects encrypted web browser connections to Vanguard's servers: http://arstechnica.com/security/2014/12/meaner-poodle-bug-that-bypasses-tls-crypto-bites-10-percent-of-websites/. I tested Vanguard's servers using Qualys SSL Labs and Vanguard got ...

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