Search found 2934 matches

by triceratop
Fri Nov 17, 2017 8:00 pm
Forum: Investing - Theory, News & General
Topic: Goldman Sachs mulls the death of the value factor
Replies: 18
Views: 1902

Re: Goldman Sachs mulls the death of the value factor

As for forward-looking statements, the article is closest to a pessimistic prediction here: this "death of equity" can no longer be seen as something a stock market rally—however strong—will check... To bring equities back to life now, secular inflation would have to be wrung out of the economy, an...
by triceratop
Fri Nov 17, 2017 10:36 am
Forum: Investing - Theory, News & General
Topic: Where did you first learn about investing?
Replies: 75
Views: 2490

Re: Where did you first learn about investing?

Bogleheads.org, 2014, age 21.

I read Swedroe, Bernstein, Thau, Graham, and Ferri as well.

I think this is a useful place to realize that it's not where you first learned about investing that counts, it's where you first learned correctly about investing that counts. (I was lucky)
by triceratop
Thu Nov 16, 2017 3:54 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 4148
Views: 1100003

Re: U.S. stocks in freefall

Still an accumulator, but approaching the end. Otoh, DS is beginning his accumulation, and I’d like him to get a sense for what a sharp drop feels like. He’s got enough now ($xxk) that he will feel it. He knows, by reading, that volatility goes both ways, but that’s something you have to experience...
by triceratop
Thu Nov 16, 2017 3:28 am
Forum: Investing - Theory, News & General
Topic: Do you subscribe to taking risk only on the equity side
Replies: 40
Views: 2199

Re: Do you subscribe to taking risk only on the equity side

I don't think of a portfolio this way. I think of a portfolio having risk and return as an entity. The risk and return of the portfolio can be calculated from the weighted proportions of the risk and return of the components (and the correlations). As a matter of arithmetic stocks are riskier and h...
by triceratop
Wed Nov 15, 2017 9:21 pm
Forum: Investing - Theory, News & General
Topic: Do you subscribe to taking risk only on the equity side
Replies: 40
Views: 2199

Re: Do you subscribe to taking risk only on the equity side

I don't think of a portfolio this way. I think of a portfolio having risk and return as an entity. The risk and return of the portfolio can be calculated from the weighted proportions of the risk and return of the components (and the correlations). As a matter of arithmetic stocks are riskier and h...
by triceratop
Wed Nov 15, 2017 7:38 pm
Forum: Investing - Theory, News & General
Topic: Do you subscribe to taking risk only on the equity side
Replies: 40
Views: 2199

Re: Do you subscribe to taking risk only on the equity side

I don't think of a portfolio this way. I think of a portfolio having risk and return as an entity. The risk and return of the portfolio can be calculated from the weighted proportions of the risk and return of the components (and the correlations). As a matter of arithmetic stocks are riskier and h...
by triceratop
Wed Nov 15, 2017 2:25 pm
Forum: Investing - Theory, News & General
Topic: Do you subscribe to taking risk only on the equity side
Replies: 40
Views: 2199

Re: Do you subscribe to taking risk only on the equity side

I think you can replace US Treasury securities with Certificate of Deposits with a modest increase of risk. You should be able to get higher yield, provided your selected banks do not fail during a recession. If that happens then the new CD deals will have lower yields. Don't you mean "significantl...
by triceratop
Tue Nov 14, 2017 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Brokered CDs - often better return secondary market
Replies: 16
Views: 1579

Re: Brokered CDs - often better return secondary market

I have bought secondary market CD’s through my fidelity account. I get much better rates there than new issue offerings. In fact, I would never buy a new offering again considering I was able to get a 5 year CD for 2.501% instead of the best new offering at the time of 2.30%. You’d have to be drunk...
by triceratop
Tue Nov 14, 2017 5:40 pm
Forum: Investing - Theory, News & General
Topic: The World's Negative Interest Rate Experiment
Replies: 34
Views: 3143

Re: The World's Negative Interest Rate Experiment

Wouldn't investors simply move toward investments with higher yields? Yes, this does appear to be happening to a degree. One interesting aspect is that foreign investors have even been piling into U.S. municipal bonds (chart below) — even though they can't take advantage of the tax benefits and are...
by triceratop
Tue Nov 14, 2017 1:22 pm
Forum: Personal Consumer Issues
Topic: Mozilla Firefox Donations?
Replies: 19
Views: 1523

Re: Mozilla Firefox Donations?

Mozilla Firefox often asks for donations, but I never have given. I wondered why I should. I am asking the forum today because Firefox issued an upgrade of which they are saying connections are much faster. I agree that it is faster after my download this morning. Do some of you donate? Should we? ...
by triceratop
Mon Nov 13, 2017 11:51 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Mutual Fund to ETF conversion for transfer out; Can I leave fractional shares behind?
Replies: 3
Views: 225

Re: Vanguard Mutual Fund to ETF conversion for transfer out; Can I leave fractional shares behind?

I see. I am not sure what the answer actually is. It's complicated from the fact that Vanguard makes mistakes so often. I meant to link to this thread with more detail: viewtopic.php?f=1&t=230425&p=3617611#p3617611
by triceratop
Mon Nov 13, 2017 11:47 pm
Forum: Personal Consumer Issues
Topic: Keurig died...what now?
Replies: 73
Views: 5037

Re: Keurig died...what now?

I would look on eBay; I have a hunch there may be some available there.

It's funny I'm seeing this today because my office Keurig also broke down. I don't care except it provides me hot water for looseleaf tea.
by triceratop
Mon Nov 13, 2017 11:44 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Mutual Fund to ETF conversion for transfer out; Can I leave fractional shares behind?
Replies: 3
Views: 225

Re: Vanguard Mutual Fund to ETF conversion for transfer out; Can I leave fractional shares behind?

This combination recently bit me: SpecID + fractional shares + mutual fund to ETF conversion + transfer out of Vanguard. Vanguard made an error last December in the post conversion cost basis, which took nearly a month to resolve. Post transfer things looked alright until they sent some mysterious f...
by triceratop
Mon Nov 13, 2017 10:05 pm
Forum: Investing - Help with Personal Investments
Topic: How do Fund-to-ETF conversions affect tax lots?
Replies: 4
Views: 638

Re: How do Fund-to-ETF conversions affect tax lots?

If you use specific identification, Vanguard won't let you sell a partial lot unless you liquidate your entire position. For example, if you have three lots of .8, .7, and .6 shares, you probably won't be able to sell one share, but you can sell two shares and Vanguard will take care of the extra t...
by triceratop
Sun Nov 12, 2017 7:24 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Hoops 777, I have brought up the very same point about Jack Bogle and his comments on dividends many times. For some reason, income from investments is important to him whether it is bond yield or dividend yield. He has recommended using a slice of the stock portion of the portfolio for higher yiel...
by triceratop
Sun Nov 12, 2017 5:09 pm
Forum: Investing - Theory, News & General
Topic: The Personal Black Swan
Replies: 46
Views: 5615

Re: The Personal Black Swan

...But really, any broadly diversified portfolio, if held long-term and rebalanced, is pretty safe in the sense that a catastrophic market loss is effectively impossible... Nope. It's possible. https://s8.postimg.org/64qwe59sl/Captura_de_pantalla_2017-11-12_a_la_s_11.01.55_AM.png https://s8.postimg...
by triceratop
Sun Nov 12, 2017 2:44 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Nedsaid,I enjoy your posts and find them illuminating. I am not sure if all of the people have the same objections/attitudes towards (stock) dividends, I see there is an article in today's Washington Post,"How stock dividends can turbocharge your portfolio" that might be able to provide some opport...
by triceratop
Sun Nov 12, 2017 2:11 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

If those investors bid up the price of a dividend paying stock beyond what its intrinsic value is (which is what we both agree in this hypothetical is occurring), the correct action to take is to short the stock, not follow the crowd.
by triceratop
Sun Nov 12, 2017 1:51 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Your analogy is fatally flawed, and you are still incorrect in your analysis. Please try to understand the opposing side from previous comments. Additionally, it would be nice to see you address how this is not simply another dressed up behavorial error as I point out in this post . For one thing, b...
by triceratop
Sun Nov 12, 2017 12:52 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Ok.It just seems to me that when they do the academic research they just look at the cold hard numbers,which is I guess all they can really do. I understand what Swedroe says about dividends in that sense.They don’t matter.But.....in the real world where people make a choice to buy something based ...
by triceratop
Sat Nov 11, 2017 4:28 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

I do have a question.I mentioned earlier in some other phrasing and it was ignored, so maybe it is a foolish question. Let’s take a company like JNJ.I think it is accurate and fair to say a lot of investors have stayed with this stock for many years because it is a household name that pays a nice d...
by triceratop
Sat Nov 11, 2017 10:46 am
Forum: Personal Consumer Issues
Topic: Another Smart Phone Thread, Low/Mid priced phones and carriers
Replies: 53
Views: 3320

Re: Another Smart Phone Thread, Low/Mid priced phones and carriers

I haven't seen many low priced phones OR plans mentioned in this thread so far. I bought my iPhone 5S on swappa.com and I use Mint Wireless, which I believe is $15/mo for unlimited texts/talks and 2GB data. This is more than sufficient for my needs. I previously used tello but found the needed menta...
by triceratop
Fri Nov 10, 2017 8:07 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Fantastic post, AlohaJoe, thank you for breaking that down. :beer
by triceratop
Fri Nov 10, 2017 6:09 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

To solve the problem apart from multi-decade return tabulations Fama and French should include dividends as a separate and additional factor. Then we could read factor studies that highlight alpha's, dividend premium, size premium, value premium, for small, mid, and large cap stocks. Alot of people...
by triceratop
Fri Nov 10, 2017 5:57 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

To solve the problem apart from multi-decade return tabulations Fama and French should include dividends as a separate and additional factor. Then we could read factor studies that highlight alpha's, dividend premium, size premium, value premium, for small, mid, and large cap stocks. Alot of people...
by triceratop
Fri Nov 10, 2017 2:25 pm
Forum: Investing - Theory, News & General
Topic: New CEO Tim Buckley: To run Vanguard, 'you have to be willing not to be a billionaire'
Replies: 24
Views: 4086

Re: New CEO Tim Buckley: To run Vanguard, 'you have to be willing not to be a billionaire'

The holier than thou attitude of Vanguard rubs me the wrong way when I see articles like this (especially the title). The pay package of Vanguard executives as far as I can find is not public but the little bit of information that is available says that the execs at Vanguard are paid similar level ...
by triceratop
Fri Nov 10, 2017 3:20 am
Forum: Investing - Help with Personal Investments
Topic: How old are you and what size is your portfolio?
Replies: 33
Views: 4103

Re: How old are you and what size is your portfolio?

Dale_G wrote:
Fri Nov 10, 2017 12:08 am
I am 80 and have a large portfolio. Is there anyone young with a small portfolio out there that would like to swap both with me?

Dale
Not me.
by triceratop
Thu Nov 09, 2017 5:25 pm
Forum: Investing - Theory, News & General
Topic: "The small-cap effect really has failed to materialize"
Replies: 37
Views: 5050

Re: "The small-cap effect really has failed to materialize"

As siamond rightly pointed out, volatility is not the same as risk. For a long-term investor, that is investors with time horizons of 40+ years to retirement, the risks are quite different. Risks during the accumulation phase are different than for retirees. (as an aside, personally, my bonds are n...
by triceratop
Thu Nov 09, 2017 12:49 pm
Forum: Investing - Theory, News & General
Topic: "The small-cap effect really has failed to materialize"
Replies: 37
Views: 5050

Re: "The small-cap effect really has failed to materialize"

I think it is ultimately a matter of whether small caps have a higher risk-adjusted return or simply a higher return. I feel markets are relatively efficient, so I don't think a drastically higher risk-adjusted expected return is all that likely over many-decade time spans. More return for more ris...
by triceratop
Thu Nov 09, 2017 11:58 am
Forum: Investing - Theory, News & General
Topic: TIPS at a young age?
Replies: 23
Views: 1067

Re: TIPS at a young age?

Because of the tax issues with TIPS I would assume that you are only looking at this within a retirement account. The only tax issue with TIPS is that they are exempt from state income tax and therefore more tax efficient in a taxable account than are nominal bonds. It is true that bonds in general...
by triceratop
Thu Nov 09, 2017 11:51 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

I think you should settle.Your argument was technically correct but there will be no dbr’s on the jury.The jury,made up of common investors, will understand my points about why people invest in dividend stocks,and why they do not care about them being value proxies and all.They will understand that...
by triceratop
Thu Nov 09, 2017 2:27 am
Forum: Investing - Theory, News & General
Topic: "The small-cap effect really has failed to materialize"
Replies: 37
Views: 5050

Re: "The small-cap effect really has failed to materialize"

I think it is ultimately a matter of whether small caps have a higher risk-adjusted return or simply a higher return. I feel markets are relatively efficient, so I don't think a drastically higher risk-adjusted expected return is all that likely over many-decade time spans. More return for more ris...
by triceratop
Wed Nov 08, 2017 10:15 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

We don't search for the most popular investor answers on bogleheads.org; we search for the ones well-supported by historical evidence, facts, and logic. It doesn't matter how likely those who would agree with the correct answer are to be found on a jury; it simply isn't the metric by which we should...
by triceratop
Wed Nov 08, 2017 6:01 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

I get the argument that only focusing on dividend paying stocks hurts you because you loose diversification and growth stocks in your mix but "the price of your shares falls by the amount of the dividends" makes no sense to me. I own MO which today trades for $64.50 and has paid out $126 in dividen...
by triceratop
Wed Nov 08, 2017 5:42 pm
Forum: Investing - Theory, News & General
Topic: How Do You Like My New 'Doo
Replies: 100
Views: 21198

Re: How Do You Like My New 'Doo

nedsaid, Have you ever tried to construct a timeseries of your daily/weekly/monthly returns based on the funds you owned at various times? It would be interesting to see your portfolio factor loads over time and how much is explained by factors. My real question concerns this: if you are tilted to ...
by triceratop
Wed Nov 08, 2017 2:12 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 641
Views: 103895

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

cookymonster wrote:
Wed Nov 08, 2017 2:07 pm
Somehow I'm still getting the 75% bonus despite only having 70-74k at ME the last several months. But yeah, it's an awesome deal. I'm using the Bank of America Cash Rewards card and the Travel Card.
You had $100k in assets at some point in the last year, correct?
by triceratop
Wed Nov 08, 2017 12:14 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Liking seeing those dividends invested in your bank account without having to sell anything is also quite understandable and not some psychological deficiency.I like seeing $1400 deposited in my bank account every 6 months from a GO muni bond I own.I like seeing the interest paid on my many CD’s.I ...
by triceratop
Wed Nov 08, 2017 11:44 am
Forum: Investing - Theory, News & General
Topic: U.S. & International Allocation
Replies: 36
Views: 3287

Re: U.S. & International Allocation

Two points, one of them already alluded to here. All World funds carry definite tax consequences in taxable accounts. And because of Vanguard’s huge size, it has no choice but to economize by steering as many investors as possible into stringent market capitalization. — Tet What tax consequences, o...
by triceratop
Tue Nov 07, 2017 8:24 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Total Corporate Bond ETF listing announced
Replies: 8
Views: 1138

Re: Vanguard Total Corporate Bond ETF listing announced

How is it truly a "Total" Corporate Bond ETF if it is only investment-grade bonds? Would you need high-yield exposure, or at the very least an ETF like iShares Fallen Angels USD Bond ETF (FALN) ? I don't know the answer myself, but it seems strange to call it a "Total" bond fund. Is it simply becaus...
by triceratop
Tue Nov 07, 2017 6:35 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

"McDonald's dividend strength is the kind you dream of" https://seekingalpha.com/article/4113977-mcdonalds-strong-dividend-growth-means-strong-future They keep increasing the dividend and the share price continues to rise :happy A single example cannot prove much either way. Here's an example for w...
by triceratop
Tue Nov 07, 2017 4:26 pm
Forum: Investing - Theory, News & General
Topic: U.S. & International Allocation
Replies: 36
Views: 3287

Re: U.S. & International Allocation

wesgreen wrote:
Tue Nov 07, 2017 3:33 pm
Time will tell. So far it 's been ttelling us that Bogle is right. I don't feel great about going against Vanguard's advice; it's hard to imagine they could be so wrong.
Vanguard recommends a significant allocation to international: 30-40% of equities.
by triceratop
Tue Nov 07, 2017 3:42 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Well,according to the research done by Kenneth French,dividend paying stocks outperformed non dividend paying stocks by an avg of 1.48 pct per year since 1927 with less risk.Maybe his facts were wrong. Is that factor-adjusted? How much of that return came from exposure to other established factors?...
by triceratop
Tue Nov 07, 2017 2:49 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Slaughtering The High Dividend Sacred Cow
Replies: 192
Views: 12871

Re: Larry Swedroe: Slaughtering The High Dividend Sacred Cow

Well,according to the research done by Kenneth French,dividend paying stocks outperformed non dividend paying stocks by an avg of 1.48 pct per year since 1927 with less risk.Maybe his facts were wrong. Is that factor-adjusted? How much of that return came from exposure to other established factors?
by triceratop
Tue Nov 07, 2017 2:46 pm
Forum: Personal Consumer Issues
Topic: Can I install Linux on a 10-year old netbook?
Replies: 16
Views: 615

Re: Can I install Linux on a 10-year old netbook?

You should seriously consider upgrading your hardware. Depending on the software you use, you may not be able to install the latest version of it given its requirements. You can buy a cheap refurbished laptop/netbooks and install the latest Ubuntu, CentOs, Red Hat, whatever your preferred choice of...
by triceratop
Tue Nov 07, 2017 2:28 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 641
Views: 103895

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

What happens to fractional ETFs during an interbrokerage transfer (specifically a transfer out of Vanguard) ? Are we required to sell before, or are the fractional amounts liquidated automatically ? And if so is there an actual market for fractional ETFs (done through VBS) ? Also, what about shares...
by triceratop
Tue Nov 07, 2017 2:24 pm
Forum: Investing - Help with Personal Investments
Topic: Would it be foolish to rebalance treasuries before Dec?
Replies: 3
Views: 251

Re: Would it be foolish to rebalance treasuries before Dec?

I directed new dollars into Intermediate Term Government bonds today. The market has priced in the (high) likelihood of a December rate increase, so this is simply rebalancing into your allocation.
by triceratop
Tue Nov 07, 2017 1:10 pm
Forum: Investing - Theory, News & General
Topic: How Do You Like My New 'Doo
Replies: 100
Views: 21198

Re: How Do You Like My New 'Doo

nedsaid, Have you ever tried to construct a timeseries of your daily/weekly/monthly returns based on the funds you owned at various times? It would be interesting to see your portfolio factor loads over time and how much is explained by factors. My real question concerns this: if you are tilted to v...
by triceratop
Mon Nov 06, 2017 8:35 pm
Forum: Investing - Theory, News & General
Topic: Why is Vanguard sending so much junk mail telling me to vote in the proxy election?
Replies: 39
Views: 3897

Re: Why is Vanguard sending so much junk mail telling me to vote in the proxy election?

cookymonster wrote:
Mon Nov 06, 2017 8:23 pm
I have just tossed these in the recycler but assuming they're business reply I can send them back next time. I don't see a way to vote online through E*Trade, Scottrade, or Merrill Edge.
I voted through Merrill Edge. They send you e-mails with instructions on how to vote your proxy.
by triceratop
Mon Nov 06, 2017 8:38 am
Forum: Investing - Theory, News & General
Topic: U.S. & International Allocation
Replies: 36
Views: 3287

Re: U.S. & International Allocation

Two points, one of them already alluded to here. All World funds carry definite tax consequences in taxable accounts. And because of Vanguard’s huge size, it has no choice but to economize by steering as many investors as possible into stringent market capitalization. — Tet What tax consequences, o...
by triceratop
Mon Nov 06, 2017 1:33 am
Forum: Personal Finance (Not Investing)
Topic: 529 question: Are stipends given for MD-PhDs considered as scholarships ?
Replies: 17
Views: 1486

Re: 529 question: Are stipends given for MD-PhDs considered as scholarships ?

One interesting quirk at least for the MD/PhD program I completed - I paid income tax on my stipend but not Social Security tax. Thus, despite years of "income," did not meet the 40 quarters requirement for SS when I finished. This is true for even some Ph.D. program stipends, depending on the sour...