Search found 4612 matches

by triceratop
Fri Aug 17, 2018 3:09 pm
Forum: Investing - Theory, News & General
Topic: Is President Jimmy Carter a Boglehead?
Replies: 22
Views: 1556

Re: Is President Jimmy Carter a Boglehead?

UpsetRaptor wrote:
Fri Aug 17, 2018 3:07 pm
Alright Jimmy, the gig's up, so what's your BH username?
You got me, hi everybody, Jimmy here. ;)

locked: not actionable and topic exhausted (devolved into politics, religion).
by triceratop
Fri Aug 17, 2018 1:37 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: 641
Views: 54549

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

I just skimmed the prospectus for these new ZERO funds. It looks like they will only be distributing dividends and capital gains once a year (December). That's a step beyond FSTVX (Fidelity US total market) that only distributes twice a year (April and December). Not sure if this is a cost cutting ...
by triceratop
Fri Aug 17, 2018 1:18 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: 641
Views: 54549

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

I just skimmed the prospectus for these new ZERO funds. It looks like they will only be distributing dividends and capital gains once a year (December). That's a step beyond FSTVX (Fidelity US total market) that only distributes twice a year (April and December). Not sure if this is a cost cutting ...
by triceratop
Fri Aug 17, 2018 10:45 am
Forum: Investing - Theory, News & General
Topic: Workers on Corporate Boards - Principal-Agent Problem
Replies: 8
Views: 528

Re: Workers on Corporate Boards - Principal-Agent Problem

Shareholder value is a myth; that is, you should reconsider your assumptions about any structural reason it's any different without "workers" on corporate boards. You should also revisit your assumptions that there aren't already "workers" on corporate boards; yes, executive board members may be inc...
by triceratop
Thu Aug 16, 2018 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: Why the Yale Endowment Hate?
Replies: 62
Views: 4524

Re: Why the Yale Endowment Hate?

zzcooper123 wrote:
Thu Aug 16, 2018 5:31 pm
The Yale Endowment Fund pays no taxes and has a potentially unlimited holding period.

You pay taxes and have a finite holding period.
Private universities now pay taxes, no?
by triceratop
Thu Aug 16, 2018 6:43 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: 641
Views: 54549

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

You could also look at the 2016 sheet which has information on competing S&P 500 funds, with similar differences in tax efficiency due to capital gains distributions. Thanks again for putting up that tax calculator. I look forward to your birthday in 2019 when you will post the 2018 one. In last te...
by triceratop
Thu Aug 16, 2018 2:36 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: 641
Views: 54549

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

Reading through this thread there are a lot of statements/conclusions about the tax-drag of these funds being higher than the loss of the ER (with some pointing to a patent as evidence that it must be so) - and yet no evidence or concrete data appears (at least that I can see) that these funds will...
by triceratop
Thu Aug 16, 2018 12:40 pm
Forum: Investing - Help with Personal Investments
Topic: Why the Yale Endowment Hate?
Replies: 62
Views: 4524

Re: Why the Yale Endowment Hate?

So you went to Wentworth? My son started there, but sort of Aced out after his first year and went to the 3rd oldest engineering school in the country. Calcutta Institute of Tech? Aka, Caltech? ;) Or perhaps Springfield Heights Institute of Tech? I should have known better than to wade into this on...
by triceratop
Thu Aug 16, 2018 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Why the Yale Endowment Hate?
Replies: 62
Views: 4524

Re: Why the Yale Endowment Hate?

OP, where did you read this? Can you provide more context so those replying can deal with any possible criticism more substantively? ... I graduated from Harvard, so I am required to hate Yale. (But I have no dislike for their highly-successful endowment investment strategy.) Well, I graduated from ...
by triceratop
Thu Aug 16, 2018 9:38 am
Forum: Investing - Help with Personal Investments
Topic: Does anyone do any pre-market trading in particular ETF's?
Replies: 1
Views: 146

Re: Does anyone do any pre-market trading in particular ETF's?

The time to invest new money was yesterday. There was an extended period yesterday when stocks were trading much lower. Why not invest then? Markets were very active so bid/ask spreads were penny to sub-penny level on popular ETFs. That is, unless you were trying to beat other traders to good news t...
by triceratop
Thu Aug 16, 2018 12:04 am
Forum: Personal Finance (Not Investing)
Topic: Seattle- mandatory affordable housing units affect single family home values?
Replies: 45
Views: 2687

Re: Seattle- mandatory affordable housing units affect single family home values?

Yes, I would think she is facing an upcoming loss. Think of it this way. If there was another house exactly like hers and priced the same as hers, would a buyer want to buy the one in the shadow of a high-rise or the one that isn't? Apparently she has not been active in the local zoning and propert...
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: 323

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: 323

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: 23
Views: 2702

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: 2231

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: 2142

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: 23
Views: 2702

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: 2231

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: 15
Views: 891

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: 15
Views: 891

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: 513
Views: 28606

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: 513
Views: 28606

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: 346
Views: 22452

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: 513
Views: 28606

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: 513
Views: 28606

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: 239
Views: 19589

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: 6067

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: 239
Views: 19589

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: 239
Views: 19589

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: 239
Views: 19589

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: 6067

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: 9462

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: 7090

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: 8313

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: 7671

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: 8313

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: 19340

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: 537

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: 1624

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: 1307

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: 204
Views: 18673

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: 1624

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: 537

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: 8313

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: 1624

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: 7671

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: 239
Views: 19589

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 ...