Search found 8789 matches

by nedsaid
Fri Dec 15, 2017 6:14 pm
Forum: Investing - Theory, News & General
Topic: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh
Replies: 42
Views: 1395

Re: Factor-Based Investing: The Long-Term Evidence - Dimson & Marsh

I have said something similar in the past: As a TSM investor I am exposed to ALL factors, even ones that haven't been discovered yet. Well, no. What you have is a market portfolio where the factors are all cancelled out except for perhaps Profitability/Quality and maybe a whiff of momentum. You hav...
by nedsaid
Fri Dec 15, 2017 6:00 pm
Forum: Investing - Help with Personal Investments
Topic: What happened to Bridgeway???
Replies: 12
Views: 712

Re: What happened to Bridgeway???

DUH!!! Kinda embarrassing given I actually know this. Thanks! Hadn't noticed it before in years past and I've owned it for almost 20 years. I just checked back to 2009, the day NAV drop was never greater than 10% and I reinvest dividends so I guess I just missed it. LOL, maybe I should watch my por...
by nedsaid
Fri Dec 15, 2017 5:58 pm
Forum: Investing - Theory, News & General
Topic: No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment
Replies: 8
Views: 1199

Re: No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment

Did anyone else have the same feeling I had? Like the adolescent at the convenience store, "one loaf of bread, one quart of milk, one copy of Playboy ..." in this case, one reduced fees, one increased savings, one Weird Portfolio? Nedsaid: You will have to tease Larry Swedroe about this. Is his mor...
by nedsaid
Fri Dec 15, 2017 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: What happened to Bridgeway???
Replies: 12
Views: 712

Re: What happened to Bridgeway???

DUH!!! Kinda embarrassing given I actually know this. Thanks! Hadn't noticed it before in years past and I've owned it for almost 20 years. I just checked back to 2009, the day NAV drop was never greater than 10% and I reinvest dividends so I guess I just missed it. LOL, maybe I should watch my por...
by nedsaid
Fri Dec 15, 2017 5:41 pm
Forum: Investing - Theory, News & General
Topic: How Do You Like My New 'Doo
Replies: 102
Views: 22162

Re: How Do You Like My New 'Doo

Total I did another wave of rebalancing from stocks to bonds. The program of mild rebalancing from stocks to bonds that I have been in since July 2013, I have been doing this for about 4 1/2 years now. I sold about 1% of my portfolio today, it should take my portfolio's share of stocks down from 67%...
by nedsaid
Fri Dec 15, 2017 5:30 pm
Forum: Investing - Theory, News & General
Topic: What is total return vs. dividend investing?
Replies: 80
Views: 9486

Re: What is total return vs. dividend investing?

Nedsaid: You have acted rationally. You got rid of the precious metals stocks, which give you a diversification benefit but their returns over time are low and they can be quite volatile. They can act as portfolio insurance but over time are most likely a drag on returns. The Master Limited Partner...
by nedsaid
Fri Dec 15, 2017 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with T. Rowe Price funds
Replies: 15
Views: 787

Re: What to do with T. Rowe Price funds

Larry Swedroe had a lot of nice things to say about T Rowe Price. They are a very good fund group. Here is a link: https://www4.troweprice.com/gis/content/dam/fai/Collections/Global%20Equity/Active%20management/AP_TRowePriceFinal.pdf This is posted at the T Rowe Price website though I have seen this...
by nedsaid
Fri Dec 15, 2017 11:44 am
Forum: Investing - Theory, News & General
Topic: No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment
Replies: 8
Views: 1199

Re: No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment

One of the first things that the presentation points out is that the Shiller P/E 10 ratio or CAPE are at high levels. It got up to about 45 at the peak of the High Tech/Internet euphoria of the late 1990's which peaked in early 2000. Today, we are at 30.5, just a tad lower than the 1929 crash where ...
by nedsaid
Fri Dec 15, 2017 11:33 am
Forum: Investing - Theory, News & General
Topic: No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment
Replies: 8
Views: 1199

Re: No Silver Bullets: 8 Ideas for Financial Planning in a Low-Return Environment

Matjen, I will be happy to review the article. I will bump the thread but I am going through the slides right now. It looks very interesting and it covers many things discussed here on the forum.
by nedsaid
Fri Dec 15, 2017 11:31 am
Forum: Investing - Help with Personal Investments
Topic: What happened to Bridgeway???
Replies: 12
Views: 712

Re: What happened to Bridgeway???

I bet most Bridgeway funds had large capital gains distributions yesterday. Companies also distribute dividends. It is that time of the year. Go to the company website and check it out, I am probably right.
by nedsaid
Fri Dec 15, 2017 11:27 am
Forum: Investing - Help with Personal Investments
Topic: Retiree and GNMA
Replies: 1
Views: 162

Re: Retiree and GNMA

If your GNMA fund is 4% of your portfolio, I just would not sweat it. I have owned a couple of GNMA funds for years and also own Vanguard Total Bond Market Index which has a lot of mortgage backed securities in it. Both types of funds did very well through the 2008-2009 financial crisis. The problem...
by nedsaid
Fri Dec 15, 2017 11:04 am
Forum: Investing - Theory, News & General
Topic: What is total return vs. dividend investing?
Replies: 80
Views: 9486

Re: What is total return vs. dividend investing?

Is a dividend basically just a "forced sale" of your stock? What's the mathematical difference between dividends and manually selling your stock? It seems like dividends are worse in every way, since some percentage of it could be taxed as normal income. What's the benefit of dividends over manuall...
by nedsaid
Fri Dec 15, 2017 10:55 am
Forum: Investing - Theory, News & General
Topic: What is total return vs. dividend investing?
Replies: 80
Views: 9486

Re: What is total return vs. dividend investing?

56 and 59 in this household, so certainly not considering 58 old or certainly doesn't qualify as an "old man" yet. We just lost 3 parents at ages 88, 91 and 92 - so we'd consider that as old age. Not being in your 50's or 60's. Those are still prime bicycling years! Nedsaid: I don't feel old, I can...
by nedsaid
Fri Dec 15, 2017 10:34 am
Forum: Investing - Help with Personal Investments
Topic: Ameriprise :(
Replies: 28
Views: 2283

Re: Ameriprise :(

The original poster can transfer most things to Vanguard but he is stuck with the illiquid non-traded REITs. Those things are sort of like a Roach Motel, easy to get into and almost impossible to get out of. He will have a relationship with the advisor until the REIT sponsors offer to buy him out o...
by nedsaid
Thu Dec 14, 2017 9:35 pm
Forum: Investing - Help with Personal Investments
Topic: Ameriprise :(
Replies: 28
Views: 2283

Re: Ameriprise :(

Call Vanguard, get some advice, and then just have them just transfer everything to Vanguard funds? You don't have to even talk to this advisor ever again, if memory serves me correctly from what others have reported here. The original poster can transfer most things to Vanguard but he is stuck wit...
by nedsaid
Thu Dec 14, 2017 9:23 pm
Forum: Investing - Theory, News & General
Topic: What is total return vs. dividend investing?
Replies: 80
Views: 9486

Re: What is total return vs. dividend investing?

Yes it was a blessing, and I am grateful every day to have a level of FI we did not enjoy before. It was also a huge responsibility, since the number of individual positions were north of 50. He liked stocks and with the help of a broker, put together a portfolio of about $9M by the time he passed ...
by nedsaid
Sun Dec 10, 2017 6:00 pm
Forum: Investing - Theory, News & General
Topic: Do DFA Funds have lower trading costs than Index Funds?
Replies: 32
Views: 1445

Re: Do DFA Funds have lower trading costs than Index Funds?

My understanding is that the fund companies that do indexing are very much aware of the front running that traders do to index funds and that they have themselves adopted patient trading strategies. Is there a Vanguard expert out there who can verify this?
by nedsaid
Sun Dec 10, 2017 5:52 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Investment Advice
Replies: 34
Views: 3891

Re: Vanguard Investment Advice

So Bertilak got a cookie cutter portfolio but got special help with individual bonds. With Vanguard, that is probably as good as it is going to get. So Bertilak, if it makes you feel good, I will say that you are just utterly brilliant. Haven't met you in person, but you are probably good looking t...
by nedsaid
Sun Dec 10, 2017 11:44 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio advice: Total market vs Larry Portfolio
Replies: 42
Views: 3375

Re: Portfolio advice: Total market vs Larry Portfolio

A 90/10 portfolio is perfectly good for a young couple. My recommendation is that you write an Investment Policy Statement. Put your thoughts on paper and develop your own beliefs about investments, the markets, and the economy. In other words, know thyself as an investor and have a well thought out...
by nedsaid
Sun Dec 10, 2017 11:33 am
Forum: Investing - Theory, News & General
Topic: Vanguard Investment Advice
Replies: 34
Views: 3891

Re: Vanguard Investment Advice

Over the years I've used a lot of risk calculators at Vanguard, Fidelity, Schwab etc and the results I usually get come reasonable close to a suitable Target Retirement Fund or one of the LifeStrategy type funds (depending on how I tweak the question responses). So that tells me that their models a...
by nedsaid
Sun Dec 10, 2017 11:10 am
Forum: Investing - Help with Personal Investments
Topic: Reasons why not to shorten target fund
Replies: 9
Views: 537

Re: Reasons why not to shorten target fund

One thing to keep in mind is that Target Date Funds, in my opinion, tend to be stock heavy. Couple of reasons for this, first mutual fund companies compete against each other. Vanguard does not want to trail Fidelity or T. Rowe Price in performance. I am 58, so I track the 2025 funds, I notice that ...
by nedsaid
Sun Dec 10, 2017 11:00 am
Forum: Investing - Theory, News & General
Topic: 2000-09 worst decade for large cap stocks in 109 years
Replies: 44
Views: 3071

Re: 2000-09 worst decade for large cap stocks in 109 years

Nedsaid, First, for investors really worried about inflation, there now exist inflation-indexed bonds (TIPS) and inflation-indexed cash investments (I-Bonds). Second, I think it's important to deconstruct an investment myth: that nominal bonds are vulnerable to inflation. Things are not as simple a...
by nedsaid
Sat Dec 09, 2017 4:31 pm
Forum: Investing - Theory, News & General
Topic: 2000-09 worst decade for large cap stocks in 109 years
Replies: 44
Views: 3071

Re: 2000-09 worst decade for large cap stocks in 109 years

...Investors did get their inflation adjustment, though it took until sometime in the mid-1980's before they got it. So yes, stocks do hedge inflation but with a very important qualification, you might have to wait awhile to get your inflation adjustment. In the case of 1970's stagflation, it took ...
by nedsaid
Sat Dec 09, 2017 4:08 pm
Forum: Investing - Theory, News & General
Topic: Stocks always in taxable for tax efficient investing?
Replies: 79
Views: 3377

Re: Stocks always in taxable for tax efficient investing?

I don't see how proper financial planning with a view towards maximizing after-tax returns can be taken to extremes. I've seen that statement before and it's never made any sense. Tax people often make the statement that home ownership has its tax advantages and of course that is true. What happens...
by nedsaid
Sat Dec 09, 2017 3:44 pm
Forum: Investing - Theory, News & General
Topic: Trying to nail down asset allocation for second bucket
Replies: 43
Views: 1523

Re: Trying to nail down asset allocation for second bucket

Our retirement savings has 2 buckets. The first that contains enough safe fixed income assets to from today to FRA very comfortably. The second bucket is everything else and will be what is used to supplement SS and modest pensions after FRA. Each additional month either myself, my spouse or both w...
by nedsaid
Sat Dec 09, 2017 3:36 pm
Forum: Investing - Theory, News & General
Topic: 2000-09 worst decade for large cap stocks in 109 years
Replies: 44
Views: 3071

Re: 2000-09 worst decade for large cap stocks in 109 years

...I also want to make the point that even though stocks are perceived as an inflation hedge, inflation spikes can be devastating to stocks in the shorter term. Stagflation was very hard on stocks and even worse for bonds... Indeed. On this point we can be categorical. There is no close time connec...
by nedsaid
Sat Dec 09, 2017 3:20 pm
Forum: Investing - Theory, News & General
Topic: Stocks always in taxable for tax efficient investing?
Replies: 79
Views: 3377

Re: Stocks always in taxable for tax efficient investing?

Rick Ferri has posted that he allocates taxable and tax deferred accounts the same. There are different schools of thought on this. Yes, but he hinted that the reason was that he was tired of working against behavioral biases of his clients. Many of them wanted to have the same asset allocation in ...
by nedsaid
Sat Dec 09, 2017 3:11 pm
Forum: Investing - Theory, News & General
Topic: Why Are So Many Companies Announcing Share Buyback?
Replies: 32
Views: 2900

Re: Why Are So Many Companies Announcing Share Buyback?

The last time that companies were allowed to repatriate foreign profits to the U.S. at favorable rates, the repatriated money mostly got spent on stock buybacks. Thought the whole idea was to reinvest the funds in the actual business. The whole idea of the business is to maximize profit - reinvesti...
by nedsaid
Sat Dec 09, 2017 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: Does a Boglehead ever time the market?
Replies: 65
Views: 4055

Re: Does a Boglehead ever time the market?

. . . In my own personal experience, timing is a sucker's bet. I lose every time. If I buy, the market goes down. If I sell, the market goes up . . . Good answer. Thank you. Here is a lesson learned on my side of the house, my retirement portfolio did much better on those years when I was away inco...
by nedsaid
Sat Dec 09, 2017 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Pay taxes on free food?
Replies: 30
Views: 3175

Re: Pay taxes on free food?

Who does your taxes? If you use a tax preparation service or a CPA, I would ask them. This is a very interesting question.
by nedsaid
Sat Dec 09, 2017 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: Critique my portfolio (EU-based)
Replies: 2
Views: 170

Re: Critique my portfolio (EU-based)

At 36 years old, 50% stocks and 50% bonds is rather conservative. You probably should be more like 70% or 80% stocks. I am 58 years old and probably a 50/50 portfolio is more appropriate for somebody like me, I am 2/3 stocks and 1/3 bonds right now. Seeing that you will have a pension, you can affor...
by nedsaid
Sat Dec 09, 2017 1:48 pm
Forum: Investing - Theory, News & General
Topic: Taylor offers a Boglehead Bobblehead for Sale
Replies: 1
Views: 802

Re: Taylor offers a Boglehead Bobblehead for Sale

Well, I fess up. I told Santa that I wanted a Jack Bogle bobblehead doll for Christmas. I saw them on the cover of one of the Boglehead books but I didn't know they really existed. I was sort of joking. But I wasn't kidding about being real good this year. Hopefully Santa is a Boglehead too. Taylor ...
by nedsaid
Sat Dec 09, 2017 1:40 pm
Forum: Investing - Theory, News & General
Topic: 2000-09 worst decade for large cap stocks in 109 years
Replies: 44
Views: 3071

Re: 2000-09 worst decade for large cap stocks in 109 years

Thanks Robert. This is in line with my comments about secular bear markets, extended periods of time where the stock market is essentially flat. Sometimes you have to be really patient to get the equity premium. The market was essentially flat from about 1929 - 1948, from 1968 - 1984, and from 1999 ...
by nedsaid
Sat Dec 09, 2017 1:30 pm
Forum: Investing - Theory, News & General
Topic: Stocks always in taxable for tax efficient investing?
Replies: 79
Views: 3377

Re: Stocks always in taxable for tax efficient investing?

I'm beginning to question the rule of thumb that stocks should always be in taxable account. There is no such rule of thumb. I don't know where people are getting this idea...you are certainly not the first. If it is from our Wiki page, it needs to be edited. The rule of thumb is more like... "Fill...
by nedsaid
Sat Dec 09, 2017 1:18 pm
Forum: Investing - Theory, News & General
Topic: Why Are So Many Companies Announcing Share Buyback?
Replies: 32
Views: 2900

Re: Why Are So Many Companies Announcing Share Buyback?

The rank and file of those companies are subsidizing the buybacks in the form of weak wages while management enriched themselves at the table. Eventually continued disinvestment of workforce will lead to lower returns for shareholders. There is something possibly seriously wrong at business schools...
by nedsaid
Fri Dec 08, 2017 6:37 pm
Forum: Personal Consumer Issues
Topic: Re: Where to buy a Vanguard hat? An Update and good news
Replies: 110
Views: 17720

Re: Jack Bogle Bobblehead Doll For Sale

Santa, what I want for Christmas is the Jack Bogle bobblehead doll. I have been really good this year. Nedsaid: I own the "Jack Bogle bobblehead doll" in its original box. I will sell it for $5,000 with all the proceeds going to The John C. Boglehead Center for Financial Literacy . Best wishes. Tay...
by nedsaid
Fri Dec 08, 2017 6:32 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Two Views On Value Converge
Replies: 1
Views: 403

Re: Larry Swedroe: Two Views On Value Converge

My understanding is that DFA screens for Value, sets Momentum to Neutral, and screens for Profitability/Quality. This is getting closer to the Buffett/Munger method of Value investing. I see what Larry is saying in the article but I scratch my head a bit. I did read again and found the study sampled...
by nedsaid
Fri Dec 08, 2017 2:30 pm
Forum: Investing - Help with Personal Investments
Topic: I don't know how it happened! [starting new business soon, how to avoid 1% AUM cost]
Replies: 14
Views: 1217

Re: I don't know how it happened! [retiring soon, how to avoid 1% AUM cost]

Not retiring plan on starting my own business, My wife has a great job she likes and provides us with health care. We don't plan on touching any of portfolio until we turn 65 when we both retire. neither 1 of has a pension do not have a adviser now,would like to get some advice here to avoid gettin...
by nedsaid
Fri Dec 08, 2017 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: I don't know how it happened! [starting new business soon, how to avoid 1% AUM cost]
Replies: 14
Views: 1217

Re: I don't know how it happened! [retiring soon, how to avoid 1% AUM cost]

You could use a Vanguard LifeStrategy fund, 4 broad index funds, rebalanced for you. No muss, no fuss. My guess is that you could get free help from Vanguard for an age appropriate asset allocation. You could also pick an age appropriate Target Date Retirement fund. Are you retiring or are you switc...
by nedsaid
Fri Dec 08, 2017 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: Do you have any guilty pleasure investments?
Replies: 53
Views: 2949

Re: Do you have any guilty pleasure investments?

Wow. It seems that by Boglehead standards that much of my investment portfolio is made up of guilty pleasures. I own 22 individual stocks and such things as American Funds EuroPacific Growth. Oh the humanity. The individual stocks are about 12 1/2 percent of my retirement portfolio, so I haven't go...
by nedsaid
Fri Dec 08, 2017 12:35 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle Is Worried About U.S. Pensions
Replies: 85
Views: 8207

Re: Jack Bogle Is Worried About U.S. Pensions

Jack estimates future bond returns at 3%, but the bond portfolio he chooses to produce a 3% expected return has a 50% weighting in long term corporate bonds and 50% in 10 year Treasuries (or TBM) which currently yield a bit less than 2.5%. The average of those two yields is about 3% and bond return...
by nedsaid
Fri Dec 08, 2017 12:21 pm
Forum: Investing - Help with Personal Investments
Topic: Do you have any guilty pleasure investments?
Replies: 53
Views: 2949

Re: Do you have any guilty pleasure investments?

Wow. It seems that by Boglehead standards that much of my investment portfolio is made up of guilty pleasures. I own 22 individual stocks and such things as American Funds EuroPacific Growth. Oh the humanity. The individual stocks are about 12 1/2 percent of my retirement portfolio, so I haven't go...
by nedsaid
Fri Dec 08, 2017 11:41 am
Forum: Investing - Help with Personal Investments
Topic: Do you have any guilty pleasure investments?
Replies: 53
Views: 2949

Re: Do you have any guilty pleasure investments?

Wow. It seems that by Boglehead standards that much of my investment portfolio is made up of guilty pleasures. I own 22 individual stocks and such things as American Funds EuroPacific Growth.
by nedsaid
Fri Dec 08, 2017 10:28 am
Forum: Personal Finance (Not Investing)
Topic: A good friend has nearly $1M in BitCoin what do I tell him?
Replies: 147
Views: 15212

Re: A good friend has nearly $1M in BitCoin what do I tell him?

I went to Vegas in 2007 and talked to my cab driver about the housing boom there at the time. He said his condo was worth over a million dollars (he bought it for $200,000). I told him to sell it, and rent for a while. He said he might sell if it got to $2 million. It didn't. I always wondered what...
by nedsaid
Fri Dec 08, 2017 10:20 am
Forum: Investing - Help with Personal Investments
Topic: Does a Boglehead ever time the market?
Replies: 65
Views: 4055

Re: Does a Boglehead ever time the market?

Hi all, this is my first post… I have just finished The little Book of Common Sense Investing. The reoccurring theme that Mr Bogle reiterates is reversion to the mean. Nedsaid: A good start. It takes a bit of courage to post and to put your thoughts out there. Thanks for posting and starting what s...
by nedsaid
Fri Dec 08, 2017 9:58 am
Forum: Forum Issues and Administration
Topic: Thank you Admins
Replies: 18
Views: 1529

Re: Thank you Admins

This forum is well administered and moderated. Pretty much the punch bowl gets taken away before the partiers get too rowdy. :wink:
by nedsaid
Fri Dec 08, 2017 9:55 am
Forum: Personal Consumer Issues
Topic: Re: Where to buy a Vanguard hat? An Update and good news
Replies: 110
Views: 17720

Re: Where to buy a Vanguard hat? An Update and bad news

Sorry, I don't know how to copy a pdf image. But here are the items on it. 1. Baseball cap $8.99 2 Stainless steel mug $14.99 3. Note Cube $4.99 4. Pen $1.29 5. Small Black journal $14.99 6. Bistro mug $7.00 7. Copper insulated travel mug $15.99 8. Compact umbrella $12.99 9. Soft shell (looks like ...
by nedsaid
Thu Dec 07, 2017 9:20 pm
Forum: Investing - Theory, News & General
Topic: National Pearl Harbor Remembrance Day
Replies: 19
Views: 1059

Re: National Pearl Harbor Remembrance Day

Excerpts from President Franklin Roosevelt's speech to Congress on December 8th, 1941 declaring war on the Empire of Japan. Yesterday, Dec. 7, 1941 - a date which will live in infamy - the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan....
by nedsaid
Thu Dec 07, 2017 9:13 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle Is Worried About U.S. Pensions
Replies: 85
Views: 8207

Re: Jack Bogle Is Worried About U.S. Pensions

I think one can come to this conclusion if they hang out on Bogleheads too much, but out in the real world there are far more families with not nearly enough saved for retirement, and a precious few who will donate sizable retirement accounts to their children. https://www.fool.com/retirement/2017/...
by nedsaid
Tue Dec 05, 2017 8:31 pm
Forum: Investing - Theory, News & General
Topic: One answer to the Dividend stocks puzzle from behavioral finance
Replies: 166
Views: 9131

Re: One answer to the Dividend stocks puzzle from behavioral finance

I don't want no stinkin' dividends. If you don't want them, you can send them to me. :D :D Problem is I have to pay tax on them. I don't want them as it is messing up my tax planning. I have to pay taxes on dividends whether I need them or not. At this stage of my life, I'm living on pensions and S...