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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.

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 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...

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 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...

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.

. 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...

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...

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?

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...

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...

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...

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 ...

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...

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...

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...

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 ...

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.

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...

Ramen: Totto (midtown manhattan)

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...

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.

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.

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,...

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 ...

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...

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...

@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...

@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...

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

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.

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...

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.

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 ...

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...

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...

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...

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...

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...

Just to keep things clear, I edited the thread title.

A majority of the largest cap decile of stocks also return less than market weight.

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...

I merged Smoke's post ("Plunge Protection Team") on the same topic into this thread.

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...

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...

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...

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 ...

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).

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.

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...

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.

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