Search found 4935 matches

by triceratop
Wed Jan 16, 2019 5:18 pm
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 827
Views: 40746

Re: RIP Jack Bogle

I moved this post to the Bogleheads Community forum from the Investing Theory one, as Jack Bogle was most certainly a member of the community.

Rest in Peace.
by triceratop
Tue Jan 15, 2019 2:50 pm
Forum: Investing - Theory, News & General
Topic: PG&E Bonds
Replies: 49
Views: 5043

Re: PG&E Bonds

I don't disagree with the statement. Of course, bonds which are below BBB- are high-yield "junk". Yes that has nothing to do with the ratings. Whether that has implications for the risk-adjusted reward of a given bond, viewed as an event study pre- and post-downgrade is a matter which market partici...
by triceratop
Tue Jan 15, 2019 1:55 pm
Forum: Investing - Theory, News & General
Topic: PG&E Bonds
Replies: 49
Views: 5043

Re: PG&E Bonds

By all means buy a high-yield bond fund if that's your desire. Last decade's financial crisis has nothing to do with a decision today. You're justified in being skeptical of bond ratings, but that has always been the case, and everybody else knows it too. PJW I am struggling to see what your commen...
by triceratop
Tue Jan 15, 2019 1:24 pm
Forum: Investing - Theory, News & General
Topic: What do futures really leverage exposure to?
Replies: 27
Views: 1583

Re: What do futures really leverage exposure to?

You can get the ebook for $23-25 on eBay (electronic or paper), and if you are not picky about the latest edition, can score it for like $13, maybe less. I obtained my e-book for much less than $13. About $13 less. OP, it's a great book and I learned much from it. For free? From where? In that case...
by triceratop
Tue Jan 15, 2019 11:21 am
Forum: Investing - Theory, News & General
Topic: PG&E Bonds
Replies: 49
Views: 5043

Re: PG&E Bonds

By all means buy a high-yield bond fund if that's your desire. Last decade's financial crisis has nothing to do with a decision today. You're justified in being skeptical of bond ratings, but that has always been the case, and everybody else knows it too. PJW I am struggling to see what your commen...
by triceratop
Mon Jan 14, 2019 8:58 pm
Forum: Investing - Theory, News & General
Topic: What do futures really leverage exposure to?
Replies: 27
Views: 1583

Re: What do futures really leverage exposure to?

finite_difference wrote:
Mon Jan 14, 2019 8:31 am
You can get the ebook for $23-25 on eBay (electronic or paper), and if you are not picky about the latest edition, can score it for like $13, maybe less.
I obtained my e-book for much less than $13. About $13 less. OP, it's a great book and I learned much from it.
by triceratop
Sat Jan 12, 2019 11:51 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

. 3) triceratop's point: When a fund issues a dividend, it sells shares of the assets it holds, and you thus own-through your ownership of the fund-fewer shares of the underlying equities that comprise the fund. Unless it is a UIT like SPY which Triceratops noted. The reinvesting/divesting thing is...
by triceratop
Sat Jan 12, 2019 11:41 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

But, still, the statement that launched this whole exchange stands: (underlying) shares are being sold without your input or control. Respectfully, that is not what the statement said. Rather, the statement was: “- Dividends are only "passive income" in the sense that they are your shares being sol...
by triceratop
Sat Jan 12, 2019 8:33 pm
Forum: Investing - Theory, News & General
Topic: The case for China A-Shares
Replies: 22
Views: 1490

Re: The case for China A-Shares

One prior discussion that goes in the opposite direction of many posts so far in this thread: Avoid Emerging Markets due to stricter securities regulation in Developed Markets? Lessons from SZSE..Maybe not?
by triceratop
Sat Jan 12, 2019 8:24 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

If you don't have other sources of income to live on than your investments a case could be made that you came out ahead because you didn't have to sell stock shares in December at their lowest prices to pay your bills. An argument could be made that the fund managers and companies sold stock shares...
by triceratop
Fri Jan 11, 2019 11:29 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

There was incorrect information that I corrected. Correctness matters for its own sake. Whether it matters to an individual investor as a standalone point really doesn't enter my calculus. I would not make many posts on such a detail except there was a question raised about whether what I posted wa...
by triceratop
Fri Jan 11, 2019 9:36 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

There was incorrect information that I corrected. Correctness matters for its own sake. Whether it matters to an individual investor as a standalone point really doesn't enter my calculus. I would not make many posts on such a detail except there was a question raised about whether what I posted was...
by triceratop
Fri Jan 11, 2019 9:29 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

In your own post you say it has 100M shares before and after the distribution. Are you confusing share count with market cap? I never stated that the share count of the TSM fund changes. I did not confuse anything. You stated, "You own fewer shares of each of the individual companies in TSM" after ...
by triceratop
Fri Jan 11, 2019 9:23 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

In your own post you say it has 100M shares before and after the distribution. Are you confusing share count with market cap? I never stated that the share count of the TSM fund, the number of shares of the TSM fund that exist, changes. I did not confuse anything. edit: to add subordinate clause to...
by triceratop
Fri Jan 11, 2019 8:29 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

A few points that all investors should drill into their head: - Dividends are only "passive income" in the sense that they are your shares being sold off without your input or control. And remember that income in this situation doesn't mean "gain wealth"... it's more like a simple cash transfer fro...
by triceratop
Fri Jan 11, 2019 8:11 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

A few points that all investors should drill into their head: - Dividends are only "passive income" in the sense that they are your shares being sold off without your input or control. And remember that income in this situation doesn't mean "gain wealth"... it's more like a simple cash transfer fro...
by triceratop
Fri Jan 11, 2019 7:59 pm
Forum: Investing - Theory, News & General
Topic: Around 43K in dividends last year - feel good about it ?
Replies: 159
Views: 13015

Re: Around 43K in dividends last year - feel good about it ?

Why are so many people acting like dividends are optional? I like seeming my dividend amount go up because it means I have more money. My portfolio is set the way I like it and dividends are a fact of life with that portfolio. The extent to which you receive dividends on a diversified portfolio of ...
by triceratop
Fri Jan 11, 2019 6:29 pm
Forum: Investing - Theory, News & General
Topic: It was a dip. Did you notice? The December drop is over.
Replies: 51
Views: 6847

Re: It was a dip. Did you notice? The December drop is over.

I noticed that when I went to 100% equities it was timed quite well. But I suppose now I am bored because I am going to be building up my bond cushion a bit now. Dumping cash into Intermediate-term treasury isn't very exciting.
by triceratop
Thu Jan 10, 2019 8:16 pm
Forum: Investing - Theory, News & General
Topic: Vanguard explains the increase in ex-us allocation
Replies: 34
Views: 4583

Re: Vanguard explains the increase in ex-us allocation

It's actually an interesting question on asset allocation for the next ten years. The days of cheap, near zero interest rates are over and we're in a rising rate environment that will lead to P/E contraction. Many leading analyst are basically giving their future 10-year guidance with over whelming...
by triceratop
Wed Jan 09, 2019 7:30 pm
Forum: Personal Consumer Issues
Topic: NYC restaurant hidden gems?
Replies: 25
Views: 1935

Re: NYC restaurant hidden gems?

Ramen: Totto (midtown manhattan)
by triceratop
Wed Jan 09, 2019 3:58 pm
Forum: Investing - Theory, News & General
Topic: BHers, what is your Roth IRA %?
Replies: 113
Views: 5249

Re: BHers, what is your Roth IRA %?

I have about 20% of my IRA money in tax exempt. That placement is unnecessary since the money is not taxed while it is in the IRA. When it is withdrawn, it is taxed as ordinary income, not tax-exempt. I suggest putting the tax-exempt funds in your taxable account instead, where the tax-exempt statu...
by triceratop
Wed Jan 09, 2019 3:50 pm
Forum: Investing - Theory, News & General
Topic: BHers, what is your Roth IRA %?
Replies: 113
Views: 5249

Re: BHers, what is your Roth IRA %?

About 10% of my net assets are in Roth IRAs; the rest is in taxable. I was Roth-ineligible for the previous 4 years which made me sad. But I have about 45 years before I have to worry about RMDs.
by triceratop
Tue Jan 08, 2019 10:25 pm
Forum: Investing - Help with Personal Investments
Topic: Understanding tax efficiency of ETFs vs Mutual Funds in taxable
Replies: 9
Views: 1143

Re: Understanding tax efficiency of ETFs vs Mutual Funds in taxable

neatp wrote:
Tue Jan 08, 2019 1:01 am
Thanks for sharing that. Unfortunately, the spreadsheet linked doesn't seem to be working anymore.
After modifying the dates to select price data from 2016/12/30 instead of 2016/12/31 It appears to be working for me except for the Fidelity funds.
by triceratop
Tue Jan 08, 2019 10:18 pm
Forum: Investing - Theory, News & General
Topic: [Vanguard to stop accepting purchases in Leveraged or Inverse mutual funds]
Replies: 145
Views: 8382

Re: More Nanny State From Vanguard

Many brokerages do not offer many specific mutual funds from other companies, even if they are legitimately registered. For example, you cannot buy the world's oldest mutual fund, MFS Massachusetts Investors Trust, retail class A, MITTX, at Vanguard. At one time, yes, you could; not now. Meanwhile,...
by triceratop
Tue Jan 08, 2019 10:02 pm
Forum: Investing - Theory, News & General
Topic: It was a dip. Did you notice? The December drop is over.
Replies: 51
Views: 6847

Re: It was a dip. Did you notice? The December drop is over.

Uhh, who took over livesoft’s account? So, “livesoft” what happens next week and the week after that? You got that new crystal ball out for a spin? If this is really you, you can prove it by finally revealing the rest of the secret sauce to your RBD strategy that you’ve never shared here. Only the ...
by triceratop
Tue Jan 08, 2019 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Need a little insight from STEM Bogleheads
Replies: 59
Views: 2668

Re: Need a little insight from STEM Bogleheads

She’s enjoys teaching, She thinks professors get all this free time to do whatever they want Then she really needs to investigate further. Tenured professor's spend most of their time begging for money writing grant proposals, faculty meetings etc. Also the chances of getting a tenured professor po...
by triceratop
Tue Jan 08, 2019 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Need a little insight from STEM Bogleheads
Replies: 59
Views: 2668

Re: Need a little insight from STEM Bogleheads

Agree with above comments that getting a tenured position in math will be very hard. That would concern me a lot more than the low salary. Also you do your best work in theoretical math or physics at a young age. The woman who discovered Pulsars at Cambridge did that work for her PhD and her superv...
by triceratop
Mon Jan 07, 2019 7:37 pm
Forum: Investing - Theory, News & General
Topic: I don't understand the case for EE bonds
Replies: 392
Views: 35675

Re: I don't understand the case for EE bonds

@Hockey99 - I view it as you do, if held to exactly 20 years the EE will provide you with a guaranteed before tax current yield of 3.53%, its the only nominal free lunch you can get for US Treasury securities with a 20 year maturity. How do I know that? Compare the EE with the daily average treasur...
by triceratop
Mon Jan 07, 2019 10:30 am
Forum: Investing - Theory, News & General
Topic: I don't understand the case for EE bonds
Replies: 392
Views: 35675

Re: I don't understand the case for EE bonds

@Hockey99 - I view it as you do, if held to exactly 20 years the EE will provide you with a guaranteed before tax current yield of 3.53%, its the only nominal free lunch you can get for US Treasury securities with a 20 year maturity. How do I know that? Compare the EE with the daily average treasur...
by triceratop
Wed Jan 02, 2019 9:25 pm
Forum: Investing - Theory, News & General
Topic: 2017 Relative Tax Efficiency
Replies: 109
Views: 20505

Re: 2017 Relative Tax Efficiency

hdas wrote:
Wed Jan 02, 2019 8:10 pm
Im working the numbers for 2018. Does anybody know where to find the QDI and Foreign Tax numbers for Invesco and WisdomTree etfs ??. Thanks :greedy
Are you offering to help me retire from this project?

FYI: the Vanguard stuff won't be out for a while so there's no rush.
by triceratop
Sun Dec 30, 2018 4:58 pm
Forum: Investing - Theory, News & General
Topic: Algos/HFT and the media hurt the retail investor ?
Replies: 78
Views: 2119

Re: Algos/HFT and the media hurt the retail investor ?

No logical reason for the Dow to fluctuate 1,000 points or more in a day but it happens when the computers go crazy. What? There's a perfectly logical reason. It's the fact that markets change on a percentage basis and "points" have nothing to do with percentages. This is completely predictable. Wh...
by triceratop
Sun Dec 30, 2018 4:49 pm
Forum: Investing - Theory, News & General
Topic: Algos/HFT and the media hurt the retail investor ?
Replies: 78
Views: 2119

Re: Algos/HFT and the media hurt the retail investor ?

nedsaid wrote:No logical reason for the Dow to fluctuate 1,000 points or more in a day but it happens when the computers go crazy.
What? There's a perfectly logical reason. It's the fact that markets change on a percentage basis and "points" have nothing to do with percentages. This is completely predictable.
by triceratop
Sun Dec 30, 2018 4:09 pm
Forum: Investing - Theory, News & General
Topic: Algos/HFT and the media hurt the retail investor ?
Replies: 78
Views: 2119

Re: Algos/HFT and the media hurt the retail investor ?

We all want to go to heaven but we don't want to do what it takes to get there. We all want cheap $4.95 brokerage trades, increasing liquidity and market efficiency, lower bid/ask spreads but we blanch at the higher volatility sometimes caused by algorithms and high frequency trading. As for me, I ...
by triceratop
Sat Dec 29, 2018 10:12 pm
Forum: Personal Consumer Issues
Topic: Nice jeans for work with lowest average cost of ownership
Replies: 107
Views: 7290

Re: Nice jeans for work with lowest average cost of ownership

livesoft wrote:
Sat Dec 29, 2018 9:08 pm
Sounds like a wash sale to me. Maybe wait more than 30 days ....
The kids are all into washed-out jeans these days...
by triceratop
Sat Dec 29, 2018 9:06 pm
Forum: Personal Consumer Issues
Topic: Nice jeans for work with lowest average cost of ownership
Replies: 107
Views: 7290

Re: Nice jeans for work with lowest average cost of ownership

I stopped following this thread. Did anybody sell their old jeans and use that in the calculation? How about deducting the donation of old jeans to charity on one's tax return? Make your jeans work for you. As someone who buys used jeans at Goodwill...Why not do both? Donate your jeans to charity a...
by triceratop
Sat Dec 29, 2018 7:26 pm
Forum: Investing - Theory, News & General
Topic: Algos/HFT and the media hurt the retail investor ?
Replies: 78
Views: 2119

Re: Algos/HFT and the media hurt the retail investor ?

This is incorrect. The bid/ask spreads on stocks affects the transaction costs that mutual funds bear when transacting in the market; and they do transact , even though they're nominally passive. Index constituent changes, IPOs, dividends, fund flows, all result in buy/sell actions by the fund. The...
by triceratop
Fri Dec 28, 2018 2:49 pm
Forum: Investing - Theory, News & General
Topic: Algos/HFT and the media hurt the retail investor ?
Replies: 78
Views: 2119

Re: Algos/HFT and the media hurt the retail investor ?

Well, for one thing, bid/ask spreads have gone to less than a penny from around 25 cents before HFT. I don't even know what bid/ask spread is, why should I care? Unless you're saying this impacts expense ratios of mutual funds. You shouldn't care because you only hold mutual funds, apparently. This...
by triceratop
Thu Dec 27, 2018 4:35 pm
Forum: Personal Consumer Issues
Topic: Fulbright scholar
Replies: 7
Views: 823

Re: Fulbright scholar

My brother recently did his Fulbright year in Europe. It worked well for him since he wanted to live abroad, and subsequent to his Fulbright year he pursued a graduate degree abroad. He was also in STEM. I expect it's a good growth opportunity, but not critical and there may be better options depend...
by triceratop
Mon Dec 24, 2018 5:23 pm
Forum: Investing - Theory, News & General
Topic: The Small Cap Discount
Replies: 3
Views: 636

Re: The Small Cap Discount

A majority of the largest cap decile of stocks also return less than market weight.
by triceratop
Sun Dec 23, 2018 9:24 pm
Forum: Investing - Theory, News & General
Topic: Vanguard says international will beat US stocks in next decade
Replies: 155
Views: 14715

Re: Vanguard says international will beat US stocks in next decade

I am statng a fact: It is more expensive for a US investor to invest in foreign stocks compared to US stocks. No, you were introducing a non sequitur, and not even an accurate one: when looking at total cost of ownership, it is less expensive for some US investors to invest in non-US stocks compare...
by triceratop
Sun Dec 23, 2018 8:39 pm
Forum: Investing - Theory, News & General
Topic: Treasury Secretary calls big bank CEOs ['Plunge Protection Team']
Replies: 10
Views: 1525

Re: Treasury Secretary calls big bank CEO's

I merged Smoke's post ("Plunge Protection Team") on the same topic into this thread.
by triceratop
Sun Dec 23, 2018 2:36 pm
Forum: Investing - Theory, News & General
Topic: Equities % v. Total Assets at Risk
Replies: 29
Views: 2819

Re: Are you a true believer?

As previously mentioned (nice post marcopolo), your proposed method of evaluating "faith" (whatever that means) in financial markets is severely flawed. An early guess at categorizing total net assets (TNA) at risk might break down: • ≥80% TNA at risk: true believers (in capital markets or their own...
by triceratop
Sat Dec 22, 2018 3:37 pm
Forum: Investing - Theory, News & General
Topic: All the "should I be 100% stocks" threads over the last year.
Replies: 175
Views: 11862

Re: All the "should I be 100% stocks" threads over the last year.

I would like to hear from the person whose financial position depends solely on their investment portfolio (no pension, no salary , no real estate, no legacy waiting, etc.) who is 100% invested in equities. Well, you’ve now set an essentially impossible bar. No competent authority would recommend h...
by triceratop
Sat Dec 22, 2018 3:05 pm
Forum: Investing - Theory, News & General
Topic: All the "should I be 100% stocks" threads over the last year.
Replies: 175
Views: 11862

Re: All the "should I be 100% stocks" threads over the last year.

I for one, am glad to see all of these high-stock-allocation replies, I am glad there are a number of others out there. I have a high tolerance for volatility, I was 100% stocks into my mid-50s and I sometimes feel out of place here on BH when I hear recommendations for age-in-bonds. I have created...
by triceratop
Sat Dec 22, 2018 3:34 am
Forum: Investing - Theory, News & General
Topic: All the "should I be 100% stocks" threads over the last year.
Replies: 175
Views: 11862

Re: All the "should I be 100% stocks" threads over the last year.

I'm 95% stocks now; if the market dips a bit more I'll be 100% stocks. Global market weight. I did want to point out that I was probably in some of those threads discussing my 90-100% allocation to stocks. No, nothing has changed due to a bit of volatility. I'm very happy with my losses. To be very ...
by triceratop
Fri Dec 21, 2018 9:20 pm
Forum: Local Chapters and Bogleheads Community
Topic: Why I became a Boglehead
Replies: 22
Views: 3087

Re: Why I became a Boglehead

Some of us like the folks around here too and have fun replying to them and joking around with them in discussions.

(This is now located in the Bogleheads community forum).
by triceratop
Fri Dec 21, 2018 5:08 pm
Forum: Investing - Help with Personal Investments
Topic: Roboadvisors, are they tax-loss harvesting for you now?
Replies: 5
Views: 831

Re: Roboadvisors, are they tax-loss harvesting for you now?

I agree with you HockeyFan99. Thanks for the insight.

I also agree that I was chuckling to myself about livesoft's line when reading the order mystified why everyone is so afraid of wash sales.
by triceratop
Fri Dec 21, 2018 3:38 pm
Forum: Investing - Help with Personal Investments
Topic: Roboadvisors, are they tax-loss harvesting for you now?
Replies: 5
Views: 831

Re: Roboadvisors, are they tax-loss harvesting for you now?

Timely question: https://www.investmentnews.com/article/20181221/FREE/181229985/sec-charges-wealthfront-and-second-robo-adviser-for-false-disclosures I saw this earlier and I'm puzzled (yes, I read the SEC order in full). I'm not sure I understand the SEC's action here on the robo-advisor TLH front...
by triceratop
Thu Dec 20, 2018 11:53 pm
Forum: Investing - Theory, News & General
Topic: TLH Question: VXUS vs IXUS
Replies: 9
Views: 634

Re: TLH Question: VXUS vs IXUS

Merrill will not flag the transaction as a wash sale. Source: I have done this exact TLH at Merrill.

The funds are quite different in expected after-tax return, and for that reason I think it is reasonable to consider them not substantially identical.