Search found 4600 matches

by triceratop
Wed Aug 15, 2018 5:48 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Efficiency vs. Lower Basis Points
Replies: 5
Views: 237

Re: Tax Efficiency vs. Lower Basis Points

I would check the resources linked to in this thread(https://www.bogleheads.org/forum/viewtopic.php?f=10&t=242137) to see if there is even an advantage in tax efficiency. Then, I would make a decision based off of that. For most people it's preferable to hold VSS in tax-deferred if possible (probabl...
by triceratop
Wed Aug 15, 2018 5:13 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Efficiency vs. Lower Basis Points
Replies: 5
Views: 237

Re: Tax Efficiency vs. Lower Basis Points

What other fund would you hold in Taxable/401k if you make the opposing choice?
by triceratop
Wed Aug 15, 2018 4:30 pm
Forum: Investing - Theory, News & General
Topic: Take your canes out in Emerging Markets
Replies: 20
Views: 1892

Re: Take your canes out in Emerging Markets

The valuations are reaching stupidly low levels again for EM value, but 1, I have large capital gains in them so I’m not going to sell and 2, I’m not going to catch a falling knife needlessly to buy more beyond the current auto 401k purchases Where do you get your (current, I hope, updated daily/we...
by triceratop
Wed Aug 15, 2018 1:48 pm
Forum: Personal Consumer Issues
Topic: Is the price of a new car a good proxy for the expense of owning it?
Replies: 38
Views: 2158

Re: Is the price of a new car a good proxy for the expense of owning it?

For depreciation, if you start with the assumption that new cars lose ~50% of their value in the first 3 years, then it's self-evident that a car that costs $50k would cost more than a car that costs $25k over a 5 year period. For whatever reason, people generally separate car purchase costs from o...
by triceratop
Wed Aug 15, 2018 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Retirement guidance for 38 yr old in Silicon Valley CA
Replies: 13
Views: 1924

Re: Retirement guidance for 38 yr old in Silicon Valley CA

I removed an off-topic/sexist comment and some replies; please keep comments related to what OP asked and away from sexist hectoring.
by triceratop
Wed Aug 15, 2018 10:55 am
Forum: Investing - Theory, News & General
Topic: Take your canes out in Emerging Markets
Replies: 20
Views: 1892

Re: Take your canes out in Emerging Markets

AlohaJoe wrote:
Wed Aug 15, 2018 9:07 am
All Real Bogleheads ™ look to grap0013, praise be his username, for all of our emerging markets market timing predictions: viewtopic.php?f=10&t=182107
+1 :)

I bought 25 VWO this morning.
by triceratop
Tue Aug 14, 2018 10:16 pm
Forum: Personal Consumer Issues
Topic: Is the price of a new car a good proxy for the expense of owning it?
Replies: 38
Views: 2158

Re: Is the price of a new car a good proxy for the expense of owning it?

Imagine a person with an annual salary of $60k and net income (after taxes etc.) of $46k, which is about $3,800/month. With living expenses of $1,500/month and retirement savings of $800 per month this person has roughly $1,500 in disposable income. If they spent roughly third of that disposable in...
by triceratop
Tue Aug 14, 2018 8:30 pm
Forum: Investing - Theory, News & General
Topic: How do index funds affect stock valuations?
Replies: 12
Views: 580

Re: How do index funds affect stock valuations?

Phineas J. Whoopee wrote:
Tue Aug 14, 2018 8:00 pm
What if everybody indexed?
PJW
Although the topic title would seem to imply this google search is relevant to OP's question, it is in fact not.
by triceratop
Tue Aug 14, 2018 6:24 pm
Forum: Investing - Theory, News & General
Topic: How do index funds affect stock valuations?
Replies: 12
Views: 580

Re: How do index funds affect stock valuations?

arcticpineapple's post is a good response for the market microstructure, and nisiprius' is also correct at a broader level. Let me get even more specific. Your question is essentially one of market impact. What does that mean? The reality is that there is not a single "price" that one has for a give...
by triceratop
Tue Aug 14, 2018 2:50 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 274
Views: 16588

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

The point is in the long term currency fluctuations add risk but no extra return. When the dollar goes up (like for the past 20 years!) a hedged fund does better, when the dollar goes down a unhedged fund does better. Why not smooth out the ride and invest 50/50 in hedged/unhedged? The currency flu...
by triceratop
Tue Aug 14, 2018 2:41 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 274
Views: 16588

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

kosomoto wrote:
Tue Aug 14, 2018 2:34 pm
Is the cost of hedging included in the expense ratio?
no.
by triceratop
Tue Aug 14, 2018 11:34 am
Forum: Investing - Theory, News & General
Topic: Invest in Tesla?
Replies: 326
Views: 20426

Re: Invest in Tesla?

Musk is well known by the masses. Musk's followers, the "Elonions", regularly preach to anyone in their vicinity. Indeed, Musk is going to "change the world", but not the way people think. Listen, it has been well known for years that Musk & Tesla are taking it to big oil to save the world. It's ju...
by triceratop
Tue Aug 14, 2018 10:05 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 274
Views: 16588

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

Heads up: I just bought $1k of International Small-cap. For a young investor just starting out this "disaster" looks more like an opportunity.
by triceratop
Tue Aug 14, 2018 9:13 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 274
Views: 16588

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

I bought international stocks last week. I might buy more this week. Maybe I'll buy OP's.

Past performance etc. etc.
by triceratop
Mon Aug 13, 2018 7:41 pm
Forum: Investing - Theory, News & General
Topic: "Don't Obsess About Expense Ratios"
Replies: 232
Views: 18834

Re: "Don't Obsess About Expense Ratios"

There are plenty of people here that wish there was an Admiral Shares version of the TR funds. They could make their own elsewhere for less than Admiral Shares ER, so I would not know why they are just wishing. Rolling your own portfolio with mutual funds is different from TR or LS funds which requ...
by triceratop
Sun Aug 12, 2018 10:35 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

I'm still working through the Hull book but I think it should be required reading, along with Larry Harris' "Trading and Exchanges" for people who think the mechanics of this stuff is interesting. I have been reading Harris' book. Highly interesting stuff! I recommend it too. Looks like I need to p...
by triceratop
Sat Aug 11, 2018 8:17 pm
Forum: Investing - Theory, News & General
Topic: "Don't Obsess About Expense Ratios"
Replies: 232
Views: 18834

Re: "Don't Obsess About Expense Ratios"

I am unsure why Fidelity just did not cut the expense ratio's to their existing index funds. Now anyone with capital gains may not be able to invest in the new offerings. Maybe it wasn't in their shareholders' interests. Sorry, I meant Fidelity's, not the fund's; it can be confusing with non-Vangua...
by triceratop
Sat Aug 11, 2018 7:50 pm
Forum: Investing - Theory, News & General
Topic: "Don't Obsess About Expense Ratios"
Replies: 232
Views: 18834

Re: "Don't Obsess About Expense Ratios"

I am unsure why Fidelity just did not cut the expense ratio's to their existing index funds. Now anyone with capital gains may not be able to invest in the new offerings. Maybe it wasn't in their shareholders' interests. Sorry, I meant Fidelity's, not the fund's; it can be confusing with non-Vangua...
by triceratop
Sat Aug 11, 2018 3:57 pm
Forum: Investing - Theory, News & General
Topic: "Don't Obsess About Expense Ratios"
Replies: 232
Views: 18834

Re: "Don't Obsess About Expense Ratios"

When Vanguard lowers its fee or ERs, it's because they're your buddy and looking out for you because they have your best interests at heart. If another company lowers theirs below Vanguard it's because they're trying to set a trap for you. Mwa-ha-ha. Companies trying to make a profit are inherently...
by triceratop
Fri Aug 10, 2018 9:57 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

Another way to state this is that it would work well for those who wanted aggressive term and market beta exposures but don’t trust the market to accurately price long-term nominal bonds (for the usual reasons).
by triceratop
Fri Aug 10, 2018 5:48 pm
Forum: Investing - Theory, News & General
Topic: I had a meeting with David Swensen tonight!
Replies: 59
Views: 9420

Re: I had a meeting with David Swensen tonight!

Bogleheads: This Topic was started about six years ago. It is interesting to see how David Swensen's Yale Unconventional Portfolio has performed compared with Allan Roth's Second Grader's Starter Three-Fund Portfolio (8/09/2018): Portfolio --------------------------------------------------- 5-Years...
by triceratop
Fri Aug 10, 2018 5:05 pm
Forum: Investing - Help with Personal Investments
Topic: Moving from Vanguard to Fidelity
Replies: 55
Views: 6894

Re: Moving from Vanguard to Fidelity

Be sure to double check your cost basis after you convert your MF to ETF shares. In fact I recommend you save a copy of your cost basis information before beginning the conversion. VBS has a horrible track record on doing this properly.
by triceratop
Fri Aug 10, 2018 4:37 pm
Forum: Investing - Theory, News & General
Topic: The Bigger Story: Fidelity Expense Ratios
Replies: 91
Views: 8021

Re: The Bigger Story: Fidelity Expense Ratios

What is the ticker? I can not find it in a quick internet search. I think it was a trick question; Fidelity has no such fund, showing the value Vanguard provides across the fund complex (in WCI's opinion anyway). IJS is free to trade at Fidelity, which could explain (perhaps) why they do not have t...
by triceratop
Fri Aug 10, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should I tell my family/friend that they are making a financial mistake?
Replies: 87
Views: 7624

Re: Should I tell my family/friend that they are making a financial mistake?

On the other hand, my mom is convinced that many people forever lost their savings in 2008 even if they held their stocks and did not sell. She also thinks mutual funds are safer than stocks. But in general mutual funds *are* safer than stocks, aren't they? (Unless you have at least 500 large cap s...
by triceratop
Fri Aug 10, 2018 4:23 pm
Forum: Investing - Theory, News & General
Topic: The Bigger Story: Fidelity Expense Ratios
Replies: 91
Views: 8021

Re: The Bigger Story: Fidelity Expense Ratios

Nate79 wrote:
Fri Aug 10, 2018 4:22 pm
What is the ticker? I can not find it in a quick internet search.
I think it was a trick question; Fidelity has no such fund, showing the value Vanguard provides across the fund complex (in WCI's opinion anyway).
by triceratop
Fri Aug 10, 2018 1:48 pm
Forum: Investing - Theory, News & General
Topic: International stocks in free fall
Replies: 151
Views: 19213

Re: International stocks in free fall

I bought International stocks on Tuesday as part of my monthly contribution so I look pretty dumb now. However I can always sell more bonds and buy more if they keep selling off.
by triceratop
Fri Aug 10, 2018 1:35 pm
Forum: Investing - Help with Personal Investments
Topic: Muni Bonds in Taxable Account - Good, Bad, or Ugly?
Replies: 4
Views: 525

Re: Muni Bonds in Taxable Account - Good, Bad, or Ugly?

I see, thank you for the clarification. If there are no transactional (tax or market impact) consequences and you can easily hold your bonds in your retirement account then sure. However, have you looked into the transaction costs of selling Muni bonds? What if you instead reinvested proceeds into b...
by triceratop
Fri Aug 10, 2018 1:30 pm
Forum: Investing - Theory, News & General
Topic: WSJ: When to Pick Mutual Fund over ETF?
Replies: 16
Views: 1602

Re: WSJ: When to Pick Mutual Fund over ETF?

Bill Bernstein suggests that using bond ETFs is not recommended as ETFs lack a mutual fund's requirement to redeem shares at NAV. In a liquidity crisis, the price of Bond ETF may drop way below the price of the underlying bonds and market makers may not able to use arbitrage effectively to keep the...
by triceratop
Fri Aug 10, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Relative tax efficiency of total international funds
Replies: 13
Views: 1301

Re: Relative tax efficiency of total international funds

I expect FTIPX to be less tax efficient than either VXUS or IXUS in the future. In the past FTIPX has been more tax efficient than it should be on a forward-looking basis because ballooning assets as a newly-started fund has resulted in fund income being distributed among a broader pool of assets t...
by triceratop
Fri Aug 10, 2018 1:25 pm
Forum: Investing - Theory, News & General
Topic: Vanguard to offer non-Vanguard ETFs commission-free
Replies: 199
Views: 17766

Re: Vanguard to offer non-Vanguard ETFs commission-free

Whakamole wrote:
Fri Aug 10, 2018 1:14 pm
darkhorse346 wrote:
Fri Aug 10, 2018 4:47 am
August 8th?.... :shock:
Perhaps they mean August 8th using the Julian calendar - that's not for another 11 days: https://www.timeanddate.com/calendar/?country=23
A dangerous association given the history of Julius increasing the price of wheat, not decreasing it.
by triceratop
Fri Aug 10, 2018 1:19 pm
Forum: Investing - Theory, News & General
Topic: WSJ: When to Pick Mutual Fund over ETF?
Replies: 16
Views: 1602

Re: WSJ: When to Pick Mutual Fund over ETF?

I get that, but I wonder if it's really a chicken-and-egg thing. Are people who buy ETFs more likely to trade anyway? I care about that relative ease when actually executing a transaction -- but nearly all of my transactions are purchases with new funds. Perhaps the real answer is "know thyself" (a...
by triceratop
Fri Aug 10, 2018 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Muni Bonds in Taxable Account - Good, Bad, or Ugly?
Replies: 4
Views: 525

Re: Muni Bonds in Taxable Account - Good, Bad, or Ugly?

I may be misunderstanding your post but could you clarify so I can help you better? I think you might have it backwards: you typically don't set an allocation to Munis and then decide where to best put them. Instead, you find an asset allocation and if it is needed to put bonds in your taxable accou...
by triceratop
Fri Aug 10, 2018 12:50 pm
Forum: Investing - Theory, News & General
Topic: The Bigger Story: Fidelity Expense Ratios
Replies: 91
Views: 8021

Re: The Bigger Story: Fidelity Expense Ratios

Don't the relative tax inefficiencies of Fidelity's funds (at least FSTVX) when compared to their most comparable Vanguard funds end up cancelling out the lower fees? I don't have total understanding of this but I thought that was the information I had seen. I could be wrong. I made a quick calcula...
by triceratop
Fri Aug 10, 2018 12:15 pm
Forum: Investing - Theory, News & General
Topic: WSJ: When to Pick Mutual Fund over ETF?
Replies: 16
Views: 1602

Re: WSJ: When to Pick Mutual Fund over ETF?

Is it hubris that I never find anything of value in and often completely disagree with WSJ financial reporting? As livesoft said, nothing new to see here.
by triceratop
Thu Aug 09, 2018 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Should I tell my family/friend that they are making a financial mistake?
Replies: 87
Views: 7624

Re: Should I tell my family/friend that they are making a financial mistake?

I told my uncle he was making a mistake viz a viz state taxation/deductibility of retirement assets in Pennsylvania. He was appreciative. On the other hand, my mom is convinced that many people forever lost their savings in 2008 even if they held their stocks and did not sell. She also thinks mutual...
by triceratop
Thu Aug 09, 2018 7:23 pm
Forum: Investing - Theory, News & General
Topic: "Don't Obsess About Expense Ratios"
Replies: 232
Views: 18834

Re: "Don't Obsess About Expense Ratios"

As there are still some Vanguard funds with expense ratios higher than I'd like, I do like the idea of competition potentially forcing Vanguard to lower its expense ratios. Lower is better, as long as the customer service doesn't suffer too much. That’s not the demonstrated history of how Vanguard ...
by triceratop
Thu Aug 09, 2018 5:41 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

columbia wrote:
Thu Aug 09, 2018 5:35 pm
Take me through the mechanics of a 40% drop in the market. This fund performs better than Vanguard Balanced Index because ________.

(I think I know why, but would be interested in the real answer.)


Thanks
It isn't designed to perform better than the Balanced Index in this scenario.
by triceratop
Wed Aug 08, 2018 10:41 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)
Replies: 619
Views: 52386

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

We sure argue a lot on the fringes around here. I don't advocate argument; I advocate understanding. Anyway, Tax efficiency is one of the 10 Boglehead principles and can make a difference (when you're young even a 10 basis point advantage is significant when compounded over a lifetime) so I don't c...
by triceratop
Wed Aug 08, 2018 10:29 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)
Replies: 619
Views: 52386

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

Nothing on this thread anything to do with Jack Bogle or his philosophy. Absolutely nothing. This has devolved into a Vanguard corporate blog as far as I can see. Years of "expenses matter, indexing matters" and then someone other than the Home Team delivers 2 indexes that are less expensive , and ...
by triceratop
Wed Aug 08, 2018 8:33 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

Caution, Wikipedia is not an authoritative source . Let's go directly to the authoritative source: S&P 500® - S&P Dow Jones Indices and download the factsheet. There are 505 companies in the S&P 500, and they are all based in the US. Incorrect. You have to read the footnotes which refer to companie...
by triceratop
Wed Aug 08, 2018 8:16 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

The country allocation is certainly interesting: 1. United States 98.62% 2. Ireland 0.41% 3. United Kingdom 0.32% 4. Switzerland 0.24% 5. Netherlands 0.21% 6. Bermuda 0.06% 7. Israel 0.04% 8. Peru 0.04% 9. China 0.03% 10. Russia 0.03% The S&P500 is an index of large market cap companies traded on U...
by triceratop
Wed Aug 08, 2018 8:12 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

the prospectus , if I got it right... I saw that too; I think you've noticed an example of Ctrl-X Ctrl-V Risk . I mean they used another fund's prospectus as the basis for this one. ;) The relevant additional risks over a 60/40 portfolio appear to be "Market Risk", "Derivatives Risk", "Futures Cont...
by triceratop
Wed Aug 08, 2018 7:43 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

the prospectus , if I got it right... I saw that too; I think you've noticed an example of Ctrl-X Ctrl-V Risk . I mean they used another fund's prospectus as the basis for this one. ;) The relevant additional risks over a 60/40 portfolio appear to be "Market Risk", "Derivatives Risk", "Futures Cont...
by triceratop
Wed Aug 08, 2018 7:29 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

nisiprius wrote:
Wed Aug 08, 2018 7:24 pm
And this one looks like the prospectus, right?
Sure, it does seem to be titled that way in the top-right. :wink:
by triceratop
Wed Aug 08, 2018 7:20 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

nisiprius wrote:
Wed Aug 08, 2018 7:06 pm
This is weird. I thought maybe the prospectus would help me.

...
Their web page appears to have a bug, inserting a spurious and redundant port access for 443 (secure HTTP) into the middle of the URL. Sloppy!

Not to worry; here is the EDGAR link
by triceratop
Wed Aug 08, 2018 7:11 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 114
Views: 5968

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

I love seeing a five day chart with the customary disclaimer that "results are not indicative of future performance." Five days isn't indicative of future performance? Good to know. I certainly can't quarrel with that. https://imgur.com/50v9IYU.png I'm curious what you expected to see given that th...
by triceratop
Wed Aug 08, 2018 6:14 pm
Forum: Investing - Theory, News & General
Topic: Invest in Tesla?
Replies: 326
Views: 20426

Re: Invest in Tesla?

I merged alloykat's topic titled "TSLA privatization" into this one, to keep TSLA discussion contained.
by triceratop
Wed Aug 08, 2018 5:46 pm
Forum: Investing - Theory, News & General
Topic: Invest in Tesla?
Replies: 326
Views: 20426

Re: TSLA privatization

Here is the most informed analysis of the recent TSLA drama: Elon Musk Has Some Fun With Tesla by Matt Levine in Bloomberg