Search found 4294 matches

by triceratop
Thu Jun 21, 2018 6:41 pm
Forum: Investing - Theory, News & General
Topic: Are mutual funds safer than ETFs?
Replies: 10
Views: 677

Re: Are mutual funds safer than ETFs?

1) The liquidity event was not in any ETF that Bogleheads would ever touch with a 10-foot pole. And, as I recall, the liquidity was not even in ETFs but instead in ETNs, which are not the same thing. And they definitely were not in 1940-act ETFs which is the products recommended to long-term investo...
by triceratop
Thu Jun 21, 2018 6:28 pm
Forum: Investing - Help with Personal Investments
Topic: [100% stock, uncomfortable with international]
Replies: 18
Views: 1036

Re: [100% stock, uncomfortable with international]

What do you get compensated for by adding the added currency risk? The currency risk is incidental (and bad!). What you get instead is more diversification. I don't understand your point of "target less currency risk with small cap stocks". Small cap stocks typically have less exposure to foreign m...
by triceratop
Thu Jun 21, 2018 5:55 pm
Forum: Investing - Help with Personal Investments
Topic: [100% stock, uncomfortable with international]
Replies: 18
Views: 1036

Re: [100% stock, uncomfortable with international]

What do you get compensated for by adding the added currency risk? The currency risk is incidental (and bad!). What you get instead is more diversification. I don't understand your point of "target less currency risk with small cap stocks". Small cap stocks typically have less exposure to foreign m...
by triceratop
Thu Jun 21, 2018 5:33 pm
Forum: Investing - Help with Personal Investments
Topic: [100% stock, uncomfortable with international]
Replies: 18
Views: 1036

Re: [100% stock, uncomfortable with international]

Hi bg5, you are not alone in putting 100% in domestic US equity. I'm personally 100% in VFIAX and never considered adding international stock into the AA. Why? because (1) simplicity (2) plenty of "international exposure" through VTSAX or VFIAX (3) no need for the added currency risk (4) ER for int...
by triceratop
Thu Jun 21, 2018 2:44 pm
Forum: Forum Issues and Administration
Topic: Server Maintenance - Today June 21, 2018 at 15:45 EDT
Replies: 18
Views: 1154

Re: Server Maintenance - Today June 21, 2018 at 15:45 EDT

livesoft wrote:
Thu Jun 21, 2018 2:43 pm
What? Just let me fi

ni
so long and thanks for all the fi
by triceratop
Thu Jun 21, 2018 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 93
Views: 5259

Re: What is/ was your career and would you recommend it now?

Professor, 2003 - present (Finance major) Would I recommend it now? Depends on who you are. If you love to read hundreds of research papers, spending weeks solving problems, are passionate about teaching, have patience dealing with students every month, then yes. The hurdle to become a tenured prof...
by triceratop
Thu Jun 21, 2018 1:33 pm
Forum: Investing - Theory, News & General
Topic: Factor Investing Makes Someone Money, But Maybe Not You
Replies: 20
Views: 1533

Re: Factor Investing Makes Someone Money, But Maybe Not You

So, what to do here? Should we all dump all SCV and international/emerging market and just use total international and total stock market? Heck, dump it all for Vanguard total stock market VTSAX? That makes Vanguard executives money. Perhaps the only thing left to do is to buy US treasury bills and...
by triceratop
Thu Jun 21, 2018 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Where to invest $50K+ down payment money for five years?
Replies: 68
Views: 5181

Re: Where to invest $50K+ down payment money for five years?

What would really happen:

Your emergency fund would remain at 60k and you would save for 1 year into a 80k short-term savings pot which you would spend on the not-an-emergency expected event of a house payment.
by triceratop
Thu Jun 21, 2018 1:01 pm
Forum: Investing - Help with Personal Investments
Topic: Where to invest $50K+ down payment money for five years?
Replies: 68
Views: 5181

Re: Where to invest $50K+ down payment money for five years?

My emergency fund is 60K. My annual saving is about 60K. I would not buy a house costs more than 400K. So, my 20% down payment is about 80K. Why do I need to save for a house down payment? I don't. Between my emergency fund and my annual savings, I have enough money for a house down payment. An eme...
by triceratop
Thu Jun 21, 2018 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: US Small Cap Value Funds
Replies: 11
Views: 680

Re: US Small Cap Value Funds

Seems then like Vanguard's advantage is just the much smaller expense ratio, but IJS will give you better performance in capturing the SCV premium. But you pay 25 bps for that. Vanguard charges 0.07% so you really only pay 18bp extra for that. By the way let's not make this out to be a Vanguard cos...
by triceratop
Thu Jun 21, 2018 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: Where to invest $50K+ down payment money for five years?
Replies: 68
Views: 5181

Re: Where to invest $50K+ down payment money for five years?

My emergency fund is 60K. My annual saving is about 60K. I would not buy a house costs more than 400K. So, my 20% down payment is about 80K. Why do I need to save for a house down payment? I don't. Between my emergency fund and my annual savings, I have enough money for a house down payment. An eme...
by triceratop
Thu Jun 21, 2018 11:26 am
Forum: Investing - Theory, News & General
Topic: Does an IPS really need to be 5 pages long to be valuable?
Replies: 50
Views: 1846

Re: Does an IPS really need to be 5 pages long to be valuable?

Mine has 2709 characters and has not been modified since last November (when I clarified how taxes would impact my decision -- I currently do not hold corporate bonds for tax reasons). It has a total of 346 words. My IPS: ==============================================================================...
by triceratop
Thu Jun 21, 2018 11:14 am
Forum: Investing - Theory, News & General
Topic: US T bills - first time user
Replies: 113
Views: 8448

Re: US T bills - first time user

Selling a Treasury one business day before settlement or having one mature on the settlement date of a new Treasury purchased either on the open market or at auction is "allowed" by (SEC?) regulations. Sure, but we see enormous variation amongst various brokers' policies regarding equity/stock ETFs...
by triceratop
Thu Jun 21, 2018 10:26 am
Forum: Investing - Theory, News & General
Topic: US T bills - first time user
Replies: 113
Views: 8448

Re: US T bills - first time user

Purchased my first US T bill (13 week) at auction this week with 25% of what I had in Schwab Prime MM at 1.83%. Investment rate on the auction results was 1.936% and with our state tax rate that corresponds to 2.03% taxable equivalent. I plan to do this every 4 weeks until I have a rolling ladder w...
by triceratop
Thu Jun 21, 2018 9:30 am
Forum: Investing - Theory, News & General
Topic: US T bills - first time user
Replies: 113
Views: 8448

Re: US T bills - first time user

Purchased my first US T bill (13 week) at auction this week with 25% of what I had in Schwab Prime MM at 1.83%. Investment rate on the auction results was 1.936% and with our state tax rate that corresponds to 2.03% taxable equivalent. I plan to do this every 4 weeks until I have a rolling ladder w...
by triceratop
Wed Jun 20, 2018 11:42 pm
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge best choice for higher net worth accounts?
Replies: 58
Views: 7574

Re: Merrill Edge best choice for higher net worth accounts?

another vote for fidelity or vanguard. They pay more for funds waiting to be invested. Bank america reward money market pays .07% interest for platinum. think 0.14% for merill sweep?? Vanguard and Fidelity pay alot more, around 1%. Or you could own ETF ICSH - iShares Ultra Short-Term Bond. SEC yiel...
by triceratop
Wed Jun 20, 2018 4:42 pm
Forum: Investing - Help with Personal Investments
Topic: Short-term Treasury ETF vs just buying Treasuries
Replies: 32
Views: 1750

Re: Short-term Treasury ETF vs just buying Treasuries

You're right, it was an assumption purely of mine that on a retail investor site such as bogleheads.org the OP would likely be interested in buying less than $100,000 of T-bills in a single trade.
by triceratop
Wed Jun 20, 2018 4:33 pm
Forum: Investing - Help with Personal Investments
Topic: Short-term Treasury ETF vs just buying Treasuries
Replies: 32
Views: 1750

Re: Short-term Treasury ETF vs just buying Treasuries

Apparently you're not missing anything. Us mortals however are missing $100,000 to drop into T-bills.
by triceratop
Wed Jun 20, 2018 4:11 pm
Forum: Investing - Help with Personal Investments
Topic: Short-term Treasury ETF vs just buying Treasuries
Replies: 32
Views: 1750

Re: Short-term Treasury ETF vs just buying Treasuries

- If I buy at an auction I just get the same price as everyone else, right? The idea is to avoid the bid/ask spread? Yes. The spread on treasuries is typically miniscule, so buying/selling in the secondary market isn't a big deal. If you plan to ladder, you can buy at auction and set up the "autoro...
by triceratop
Wed Jun 20, 2018 3:16 pm
Forum: Investing - Theory, News & General
Topic: Ex-dividend days: Is there typically anything out of the ordinary?
Replies: 25
Views: 1970

Re: Ex-dividend days: Is there typically anything out of the ordinary?

For example, if all 30 companies represented in the Dow Jones index paid a 2% dividend on the same day, would the Dow drop by 2%? In the case of the DJIA, yes. Interesting; thank you very much. I assume the same would be true for a market-cap based index like the S&P 500? Also, a follow-up a questi...
by triceratop
Wed Jun 20, 2018 2:57 pm
Forum: Investing - Help with Personal Investments
Topic: Dollar cost averaging small cap value in taxable
Replies: 3
Views: 225

Re: Dollar cost averaging small cap value in taxable

KyleAAA wrote:
Wed Jun 20, 2018 2:54 pm
IJS has been quite tax efficient in the past and will probably continue to do so. I would feel comfortable holding it in taxable. VTI might be slightly better in taxable but not by a significant amount.
VTI has been worse in taxable.
by triceratop
Wed Jun 20, 2018 2:52 pm
Forum: Investing - Theory, News & General
Topic: Ex-dividend days: Is there typically anything out of the ordinary?
Replies: 25
Views: 1970

Re: Ex-dividend days: Is there typically anything out of the ordinary?

I have a related question on this topic: how does the payments of dividends affect stock indices? For example, if all 30 companies represented in the Dow Jones index paid a 2% dividend on the same day, would the Dow drop by 2%? In the case of the DJIA, yes. However, not all stock indices are stock ...
by triceratop
Wed Jun 20, 2018 2:24 pm
Forum: Investing - Help with Personal Investments
Topic: Short-term Treasury ETF vs just buying Treasuries
Replies: 32
Views: 1750

Re: Short-term Treasury ETF vs just buying Treasuries

^ Of course, that is not an issue if you buy at auction and hold your ladder to maturity.
by triceratop
Wed Jun 20, 2018 1:48 pm
Forum: Forum Issues and Administration
Topic: Is there a way to block someone?
Replies: 22
Views: 2794

Re: Is there a way to block someone?

There is no means to block someone on the forum. Of course, it could be done with browser-side scripts I suppose (not that I endorse doing so, it is just technologically feasible).

I'm going to lock this thread to avoid personal attacks and off-topic conversation.
by triceratop
Wed Jun 20, 2018 9:12 am
Forum: Investing - Theory, News & General
Topic: Ex-dividend days: Is there typically anything out of the ordinary?
Replies: 25
Views: 1970

Re: Ex-dividend days: Is there typically anything out of the ordinary?

You would expect the price of a stock to drop by the amount of the dividend on ex-dividend day. There are other things at play here though. Good news could boost the stock price even with the announced dividend. In any case, the price is lower than it would have been if there had been no dividend a...
by triceratop
Tue Jun 19, 2018 8:30 pm
Forum: Investing - Theory, News & General
Topic: General Electric booted from Dow Jones Industrial Average
Replies: 46
Views: 4778

Re: General Electric booted from Dow Jones Industrial Average

Despite all the griping about the DJIA, the Dow has pretty well paralleled the S&P 500 (and predecessors); ballpark, the Dow has always been roughly equal to the S&P times ten. Certainly, the cap-weighted S&P is a better measure than the crazy DJIA, and a total market index would be better than the...
by triceratop
Tue Jun 19, 2018 6:49 pm
Forum: Personal Consumer Issues
Topic: Which Supermarket are you?
Replies: 153
Views: 7237

Re: Which Supermarket are you?

Aldi, Trader Joe's and 99 ranch / H-mart. It helps to be in Socal where some of these are plentiful.

The latter have excellent fish options.
by triceratop
Tue Jun 19, 2018 4:00 pm
Forum: Investing - Theory, News & General
Topic: Expanded commission-free ETFs at Etrade
Replies: 11
Views: 632

Re: Expanded commission-free ETFs at Etrade

Of note: commission-free multifactor access.
by triceratop
Tue Jun 19, 2018 2:28 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6639
Views: 1434596

Re: U.S. stocks in freefall

Vanguard's about to pay out dividends on many funds. I'm tempted to buy today, but I'm also tempted to wait until after the ex-dividend date. I'll wait to see if tomorrow drops enough to get me to buy the dividend. I assume you are talking about a taxable account? In a retirement account there is n...
by triceratop
Tue Jun 19, 2018 11:57 am
Forum: Investing - Help with Personal Investments
Topic: Bond Dividend / Cost Basis Question
Replies: 6
Views: 148

Re: Bond Dividend / Cost Basis Question

I use the monthly Bond Dividends to invest in Fidelity's International Index Fund (FTIPX) Is this a bad idea? Should I really have my Bond dividends set to reinvest? There is nothing wrong with either option. It is arguably easier to "set and forget" reinvestment of Fidelity Bond into Fidelity Bond...
by triceratop
Tue Jun 19, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: Bond Dividend / Cost Basis Question
Replies: 6
Views: 148

Re: Bond Dividend / Cost Basis Question

You are down the 4K because you took the money out of the fund in the form of dividends. This is not true. S/He is down 4K because yields increased. What he did with the bond dividends is another matter. If he needed to spend the dividends then that is simply what he had to do. But the total return...
by triceratop
Tue Jun 19, 2018 10:42 am
Forum: Investing - Theory, News & General
Topic: Smart and Not-so-Smart Beta ETF closures
Replies: 2
Views: 337

Re: Smart and Not-so-Smart Beta ETF closures

Four international currency-hedged minimum volatility funds and nine multifactor single sector (US) funds. That sounds like perhaps not bad ideas but rather specific and narrow ones. I guess they just never attracted enough assets. Though on second thought I kind of think currency hedging some inte...
by triceratop
Tue Jun 19, 2018 10:20 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6639
Views: 1434596

Re: U.S. stocks in freefall

I merged Oak&Elm's thread "Anyone Buying Today?" into this one as the topics are essentially the same.

No, I'm not buying today. I'll be buying at the end of the month, though.

I do see that my FNDE purchases that I thought I got at a good price on a RBD last month are now down over 5%. Oh well.
by triceratop
Mon Jun 18, 2018 11:33 pm
Forum: Personal Consumer Issues
Topic: Help Buying Mens Shoes for Work and Dating
Replies: 97
Views: 8298

Re: Help Buying Mens Shoes for Work and Dating

I think HongKonger's perspective is a lot less common than she thinks. I agree. Superficial people usually are not aware that they are superficial. I believe many of you talk about your wives not noticing such things. Try talking to some 30 something single gals in the market for a serious chap. I’...
by triceratop
Mon Jun 18, 2018 5:24 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: The Battle Of Passive Strategies
Replies: 62
Views: 5447

Re: Larry Swedroe: The Battle Of Passive Strategies

Don't pay attention to M* for tax cost ratios, their numbers are not reliable. However, SP600 ETFs like IJS/VIOV are incredibly tax efficient. See e.g. this thread and related ones: https://www.bogleheads.org/forum/viewtopic.php?t=242137 I would be surprised if vanilla DFA funds (not tax-managed) we...
by triceratop
Mon Jun 18, 2018 1:05 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: The Battle Of Passive Strategies
Replies: 62
Views: 5447

Re: Larry Swedroe: The Battle Of Passive Strategies

I want to observe that whether the exposure is worth it depends entirely on future factor excess returns which are of course unknowable. And the same thing can be said about whether owning ANY stocks and bond are worth it. Precisely true, though of course that exposure is basically free cost-wise. ...
by triceratop
Mon Jun 18, 2018 11:15 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: The Battle Of Passive Strategies
Replies: 62
Views: 5447

Re: Larry Swedroe: The Battle Of Passive Strategies

When a fund has deeper factor exposure, less market beta exposure needs to be taken on to achieve the same tilt: a more efficient portfolio. Also cost differences are less than one would think because one can use less of the more expensive factor fund and more of the cheaper core / TSM fund to achi...
by triceratop
Mon Jun 18, 2018 11:13 am
Forum: Personal Consumer Issues
Topic: Help Buying Mens Shoes for Work and Dating
Replies: 97
Views: 8298

Re: Help Buying Mens Shoes for Work and Dating

I have ditched dates based on footwear. It speaks volumes about a man. All my female friends say the same and none of us is exceptionally picky or high maintenance. Its like guys judge other guys by their watch or their car, women judge other women by shoes and bags. OP - go the whole hog and buy a...
by triceratop
Sun Jun 17, 2018 9:48 pm
Forum: Personal Consumer Issues
Topic: Standard buyer's remorse or poorly timed enlightenment?
Replies: 40
Views: 3463

Re: Standard buyer's remorse or poorly timed enlightenment?

livesoft wrote:
Sat Jun 16, 2018 3:10 pm
But it is interesting to me that you registered today to make this as your first post. Very interesting indeed. Welcome.
Wait, what happened today?
by triceratop
Sun Jun 17, 2018 12:18 pm
Forum: Investing - Theory, News & General
Topic: How much tilt is enough to make a difference?
Replies: 27
Views: 1820

Re: How much tilt is enough to make a difference?

The real answer: any amount will make a difference. Answers saying less than X% will not make a difference are mathematically incorrect. Here's a practical example: If I have a 40/60 portfolio with an overall allocation of 10% in EM Value and 10% in Developed Small Value people will say that is not ...
by triceratop
Sat Jun 16, 2018 4:59 pm
Forum: Personal Consumer Issues
Topic: What are your hobbies?
Replies: 58
Views: 4632

Re: What are your hobbies?

Good to see a variety of interests represented here. How I spend my vanishingly small amount of free time in grad school: - Classical music - reading current events, economics, finance, and politics - reading classics - playing piano - being a Linux developer - bicycling - reading academic finance p...
by triceratop
Fri Jun 15, 2018 9:40 am
Forum: Investing - Theory, News & General
Topic: Which boglehead rule do you break--and are ok with
Replies: 152
Views: 11087

Re: Which boglehead rule do you break--and are ok with

I'm a pretty strict boglehead. The one guide I don't do is a written out directive Investment Plan Statement. There's no Boglehead rule saying you have to have a written out IPS. There aren't really any Boglehead rules. The closest things are the Bogleheads principles: https://www.bogleheads.org/wi...
by triceratop
Fri Jun 15, 2018 9:16 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: What Makes Factors Endure
Replies: 55
Views: 3433

Re: Larry Swedroe: What Makes Factors Endure

I don't know, computers and algorithms seem to amplify human emotion. I doubt that AI will be any different. Somehow, greed and fear are still in fashion. I suppose someone will try baffling AI by doing seemingly really irrational trades. Do weird things in the markets to try to get AI machines to ...
by triceratop
Thu Jun 14, 2018 6:38 pm
Forum: Investing - Help with Personal Investments
Topic: MD&P just purchased X / sold Y [md&pharmacist]
Replies: 198
Views: 11459

Re: MD&P just purchased X / sold Y [md&pharmacist]

In the end, whether I am 0% cash or 99.99999% cash, the reality is that if someone wants to consider my techniques, timing and/or holdings - they will not have the same cash positions as I. Ignore the noise, that's all it is. This is not true. Knowing what percentage you held in cash at various poi...
by triceratop
Thu Jun 14, 2018 4:12 pm
Forum: Investing - Theory, News & General
Topic: Factor-based strategy is better (winer), OK. then who are the losers?
Replies: 55
Views: 2476

Re: Factor-based strategy is better (winer), OK. then who are the losers?

Your point is valid. Predicts means in the sense of explaining the data. However, it would seem that the answer to the question posed can only exist in the context of some theoretical construct which is required to define the term "factor," and from that point of view it seems F-F sheds light on th...
by triceratop
Thu Jun 14, 2018 3:55 pm
Forum: Investing - Theory, News & General
Topic: Factor-based strategy is better (winer), OK. then who are the losers?
Replies: 55
Views: 2476

Re: Factor-based strategy is better (winer), OK. then who are the losers?

The Fama-French model for investment returns predicts higher returns than the total market for positive loading on small and value factors and lower returns than the total market for negative loading on small and value factors. The total market has zero loading on those factors and neither outperfo...
by triceratop
Thu Jun 14, 2018 3:24 pm
Forum: Investing - Theory, News & General
Topic: Factor-based strategy is better (winer), OK. then who are the losers?
Replies: 55
Views: 2476

Re: Factor-based strategy is better (winer), OK. then who are the losers?

JoMoney wrote:
Thu Jun 14, 2018 3:10 pm
What type of wine do factor-based investors think is best?
Given the recent underperformance of the value factor I believe we’re in-the-red whine area. ;)
by triceratop
Wed Jun 13, 2018 5:27 pm
Forum: Investing - Theory, News & General
Topic: Why market drop when Fed announced rate increase?
Replies: 19
Views: 2495

Re: Why market drop when Fed announced rate increase?

Everyone suspected the FFR would likely increase, but the dot-plot was not known and that was also updated today.
by triceratop
Tue Jun 12, 2018 9:33 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: What Makes Factors Endure
Replies: 55
Views: 3433

Re: Larry Swedroe: What Makes Factors Endure

I'm sorry, I've never seen a recommendation on this forum to prefer, say, invest only in VG Large Cap Growth Index and avoid Total Market Index. You're right, this is rare. I think I've seen it in the context of someone whose employment lies in an area which is positively correlated with value (ban...