Search found 4271 matches

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: 2
Views: 87

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: 21
Views: 2379

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: 14
Views: 1149

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: 37
Views: 3681

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: 151
Views: 6851

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: 5
Views: 486

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: 6636
Views: 1432761

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: 139

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: 139

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: 325

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: 6636
Views: 1432761

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: 96
Views: 8042

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: 51
Views: 4358

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: 51
Views: 4358

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: 51
Views: 4358

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: 96
Views: 8042

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: 3437

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: 1809

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: 4550

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: 150
Views: 10505

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: 3417

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: 11375

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: 2463

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: 2463

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: 2463

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: 2490

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: 3417

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...
by triceratop
Tue Jun 12, 2018 5:13 pm
Forum: Investing - Theory, News & General
Topic: Is Vanguard Small Cap Index really small cap?
Replies: 32
Views: 1841

Re: Is Vanguard Small Cap Index really small cap?

The tilting strategies are easier in theory than they are in practice. This is true of other investment strategies as well. One reason a lot of folks have thrown in the towel and just index. I guess I am an eternal optimist. How about an ETF? https://s22.postimg.cc/6dapb9txt/IJS_Capture.gif e/r 0.2...
by triceratop
Tue Jun 12, 2018 3:20 pm
Forum: Personal Consumer Issues
Topic: Maui Hikes
Replies: 11
Views: 589

Re: Maui Hikes

bhchica wrote:
Tue Jun 12, 2018 2:18 pm
Iao Valley State Park - Iao needle and a hike down into an area that has swimming.
I recommend this (Plenty of wilderness off the beaten path too).
by triceratop
Tue Jun 12, 2018 1:49 pm
Forum: Investing - Help with Personal Investments
Topic: Help with tax efficiency -- Fidelity FSTVX vs iShares ITOT
Replies: 9
Views: 388

Re: Help with tax efficiency -- Fidelity FSTVX vs iShares ITOT

You're not missing anything. Of course, that tax efficiency is 10x the stated difference in expense ratio. And, FSTVX may be more tax inefficient in the future. I would use ITOT in your situation. By the way have you seen this? https://www.bogleheads.org/forum/viewtopic.php?t=242137 This is really ...
by triceratop
Tue Jun 12, 2018 1:43 pm
Forum: Investing - Help with Personal Investments
Topic: Help with tax efficiency -- Fidelity FSTVX vs iShares ITOT
Replies: 9
Views: 388

Re: Help with tax efficiency -- Fidelity FSTVX vs iShares ITOT

You're not missing anything. Of course, that tax efficiency is 10x the stated difference in expense ratio. And, FSTVX may be more tax inefficient in the future. I would use ITOT in your situation. By the way have you seen this? https://www.bogleheads.org/forum/viewtopic.php?t=242137 This is really ...
by triceratop
Tue Jun 12, 2018 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Help with tax efficiency -- Fidelity FSTVX vs iShares ITOT
Replies: 9
Views: 388

Re: Help with tax efficiency -- Fidelity FSTVX vs iShares ITOT

You're not missing anything. Of course, that tax efficiency is 10x the stated difference in expense ratio. And, FSTVX may be more tax inefficient in the future. I would use ITOT in your situation.

By the way have you seen this? viewtopic.php?t=242137
by triceratop
Tue Jun 12, 2018 12:15 pm
Forum: Investing - Theory, News & General
Topic: Impact of Fed. interest rate hike on CD rates
Replies: 4
Views: 771

Re: Impact of Fed. interest rate hike on CD rates

protagonist wrote:
Tue Jun 12, 2018 12:11 pm
Would it be reasonable to assume that the future projected hikes for this year and next are also already "baked in"?
You can see the probabilities, i.e. the extent to which future possible hikes are "baked in", on the link Doc and I have provided.
by triceratop
Tue Jun 12, 2018 12:13 pm
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4183

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

I've never met an individual that believes he or she will be able to invest in the market for free. If we truly approach zero for passive type funds, it makes me wonder where fees will pop up unexpectedly (think banks marketing "free checking"). There is no such thing as a free lunch imo. It's got ...
by triceratop
Tue Jun 12, 2018 10:04 am
Forum: Investing - Theory, News & General
Topic: When will Fed meet next to adjust interest rates?
Replies: 3
Views: 411

Re: When will Fed meet next to adjust interest rates?

I found this calendar online but it does not state agenda: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm Is it known ahead of time when the Fed will meet to assess and potentially adjust their interest rates, or is that part of the agenda at all of their meetings on the calendar a...
by triceratop
Tue Jun 12, 2018 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Best Advice You Never Took
Replies: 100
Views: 13411

Re: Best Advice You Never Took

I was advised that it would be fiscally prudent to immediately go into a more lucrative field like finance or tech rather than pursue a PhD. I did not follow that advice. The advice was correct so far, financially, but there is more to life than one's salary or social prestige, something I've only a...
by triceratop
Mon Jun 11, 2018 11:53 pm
Forum: Investing - Theory, News & General
Topic: S&P 500 International Revenue
Replies: 3
Views: 291

Re: S&P 500 International Revenue

Revenue =/= sales. Also:
S&P 500 foreign sales represent products and services produced and sold outside of the U.S.
by triceratop
Mon Jun 11, 2018 9:00 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: What Makes Factors Endure
Replies: 55
Views: 3417

Re: Larry Swedroe: What Makes Factors Endure

@nisi: fair enough, but in context I did say "In this respect" -- i.e. with respect to Sauter's presentation. If one takes your conclusion that they are wholly the same then Sauter's presentation is internally-inconsistent. I think something more subtle is afoot than can be demonstrated by linking t...
by triceratop
Mon Jun 11, 2018 8:10 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: What Makes Factors Endure
Replies: 55
Views: 3417

Re: Larry Swedroe: What Makes Factors Endure

“I believe that smart beta is stupid.” Jack is always good for a pithy quote! He has elaborated on this topic in the past but I like the longer explanation given by former Vanguard Chief Investment Officer Gus Sauter , who rather handily deconstructs Smart Beta in this 2016 presentation: Gus Sauter...
by triceratop
Mon Jun 11, 2018 7:35 pm
Forum: Investing - Help with Personal Investments
Topic: MD&P just purchased X / sold Y [md&pharmacist]
Replies: 198
Views: 11375

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

md&pharmacist wrote:
Mon Jun 11, 2018 5:54 pm
So my current holdings are with returns as of 6/11/2018):
This list is meaningless without the portion each holds in your portfolio. See earlier comments regarding the ability to construct an XIRR out of your initial portfolio + detailed trades.
by triceratop
Mon Jun 11, 2018 1:24 pm
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4183

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

But....the S&P index is more expensive than the CRSP index..? I don't see how your idea makes mathematical sense. So, how would using the S&P fund lower costs? The WSJ article stated the licensing fee is %AUM not fixed-cost so growing the size of the fund doesn't help in this respect. One big fee i...
by triceratop
Mon Jun 11, 2018 1:22 pm
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4183

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

One mans "diversification" is anothers risky junk they don't want to own. Maybe they should lower the cost of the S&P fund by tossing out the TSM, and let those who want the "diversification" buy a completion index. But....the S&P index is more expensive than the CRSP index..? I don't see how your ...
by triceratop
Mon Jun 11, 2018 1:06 pm
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4183

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

One mans "diversification" is anothers risky junk they don't want to own. Maybe they should lower the cost of the S&P fund by tossing out the TSM, and let those who want the "diversification" buy a completion index. But....the S&P index is more expensive than the CRSP index..? I don't see how your ...
by triceratop
Mon Jun 11, 2018 12:29 pm
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4183

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

... It's encouraging to see Vanguard preferring its CRSP-funds (e.g. phasing out SP500 funds in its own retirement plans); it's likely that Vanguard is looking ahead. Why is lack of choice "encouraging" ? I didn't say lack of choice is what makes it encouraging, I think you can recognize that. Rath...
by triceratop
Mon Jun 11, 2018 11:56 am
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4183

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

Loved this bit, I didn't know the licensing fees were that high (and not fixed cost!): A fund need not explicitly track the S&P 500 to offer investors diversified exposure to large-cap U.S. equities, and decoupling a fund from a name-brand index can cut costs. The SPDR S&P 500 ETF , the largest fund...
by triceratop
Fri Jun 08, 2018 2:36 am
Forum: Investing - Theory, News & General
Topic: Indexing will fail investors in next decade
Replies: 57
Views: 8838

Re: Indexing will fail investors in next decade

I like my odds with real estate by a mile since land is a finite commodity and they aren't making any more of it. Paper has no value, currency can be manipulated, printed, and created out of thin air in all sorts of ways. Many of my colleagues saw increased rents and lower vacancies during the 2007...
by triceratop
Thu Jun 07, 2018 5:08 pm
Forum: Investing - Theory, News & General
Topic: Indexing will fail investors in next decade
Replies: 57
Views: 8838

Re: Indexing will fail investors in next decade

First time I've ever seen somebody recommend investing in water. Not sure how I would do that. Do I need my own water tower or can I pay a reservoir to store some for me. Who knows; it's not like that stuff just falls from the sky for free. Actually that's what the protagonist of The Big Short is s...
by triceratop
Thu Jun 07, 2018 3:05 pm
Forum: Investing - Theory, News & General
Topic: Will the real MSCI EAFE index please stand up?
Replies: 13
Views: 626

Re: Will the real MSCI EAFE index please stand up?

Thank you very much. 1) Which one do I want? 2) It's an index. There are no costs. What do "net" and "gross" mean here? 1) I suspect you want Net return, but I don't know what your goal here is. 2) Yes in fact there are costs, tax costs. Useful discussion: Net total return vs. gross total return - ...
by triceratop
Thu Jun 07, 2018 2:43 pm
Forum: Investing - Theory, News & General
Topic: Will the real MSCI EAFE index please stand up?
Replies: 13
Views: 626

Re: Will the real MSCI EAFE index please stand up?

Net vs. Gross....

Switch rapidly between the two PDFs on your screen and you'll see the text toggle back and forth 8-)
by triceratop
Thu Jun 07, 2018 1:21 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's own 401k plan eliminating S&P 500 Index option!
Replies: 86
Views: 7481

Re: Vanguard's own 401k plan eliminating S&P 500 Index option!

Yes, my comment was meant to be read tongue-in-cheek. ;)