Search found 1743 matches

by Electron
Sun Jul 15, 2018 4:00 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

Even at the highest tax bracket with NIIT Prime is still a better deal right now. Obviously I am not the only one too lazy to move to Prime right now. I noticed the same thing. There are probably a lot of people who just assume they are better off in a tax-exempt money market fund and don't look at...
by Electron
Sat Jul 14, 2018 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

Where do you think yields will go from here? It’s 1.10% right now and doesn’t make sense any more at my bracket. The only thing I can suggest is reviewing the pattern in previous years. The most recent peak on 7-03-18 appears consistent with the peak on 7-05-17. It might be worth estimating the ann...
by Electron
Fri Jul 13, 2018 4:00 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

Here are two articles that may help explain some of the recent yield spikes seen in VMSXX. Note the comment in the Blackrock article about the spring supply push. https://www.bloomberg.com/news/articles/2017-11-30/muni-cracks-widen-as-issuers-rush-in-fearing-tax-reform-damage November 30, 2017 "In t...
by Electron
Tue Jul 10, 2018 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

Down to 1.2% sec yield today from 1.31%. Now I’m below TEY at my bracket compared to prime. There must be a lot of demand from people in the 35% and 37% brackets. Even then the current rate is not overly attractive depending on the taxable rate used for comparison. The Treasury Money Market fund is...
by Electron
Mon Jul 09, 2018 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

That prompts the question: are transactions done using the NAVs to four decimal place or two decimal places? I did not find anything in the prospectus of the Vanguard Municipal Money Market fund about the number of decimal places in the NAV used for transactions. Fidelity provides some information ...
by Electron
Sat Jul 07, 2018 5:00 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

Here is an updated chart which includes the Fed rate hike on 12-16-15. You can see that VMSXX did not immediately respond to the rate increase as mentioned in the article I posted earlier. The chart provides a date label and tick mark on 12-15-15. That increase was the first rate hike of the current...
by Electron
Thu Jul 05, 2018 4:04 pm
Forum: Investing - Theory, News & General
Topic: Switch to LT bonds in this falling rate environment?
Replies: 43
Views: 2716

Re: Switch to LT bonds in this falling rate environment?

David Kotok is recommending Long term Muni bonds now barbelling with short term bonds as the long term muni bond after tax yield equal or exceeds treasuries. California residents may want to compare Vanguard California Intermediate-Term Tax-Exempt with Vanguard California Long-Term Tax-Exempt. SEC ...
by Electron
Sun Jul 01, 2018 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

For me, the advantage of Treasury MM over Prime MM now is only 1 basis point of after-tax yield (ATY), so 1.33% vs. 1.32%, and ditto for taxable-equivalent yield (TEY), at 2.04% vs. 2.03%. But for me the maximum advantage was only 8 basis points of TEY on 6/4/2018. The 7.1 basis point advantage I m...
by Electron
Sun Jul 01, 2018 12:57 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

The after-tax yield advantage I've had with the Treasury Money Market Fund has been slowly shrinking away! The difference in after-tax yield was 0.30% a few weeks ago and now it is 0.071%. There is an interesting effect in play with the different taxation for the Treasury Money Market fund and VMSXX...
by Electron
Fri Jun 29, 2018 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

That is, I think that just about all variable rate debt essentially enjoys the same high credit rating, so muni MM yields will be the same except for expenses. Although, I'm sure there are muni fund which attempt to goose yields with some lower quality debt perhaps? Here is an article that may prov...
by Electron
Tue Jun 26, 2018 1:07 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

The rise in the SEC yield of VMSXX last year was from 6-14-17 through 7-06-17 so it will be interesting to see how things compare in 2018. However, note that the Federal Funds Rate was increased on both 6-14-17 and 6-13-18. In fact, many of the recent spikes in yield coincided with hikes by the Fed....
by Electron
Fri Jun 22, 2018 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

Under the new regs my understanding is that municipal MM funds (and other MM funds apart from federal/treasury funds) are only open to individual investors. Hedge funds (along with other institutional investors) are limited to the federal/treasury MM funds. Here is a list of Institutional Money Mar...
by Electron
Thu Jun 21, 2018 4:21 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

I wonder if there are two or more overlapping influences which affect the cycles, e.g. investor behavior, underlying economic conditions, one-time events such as new tax-law affecting one or more of the past-few cycles, etc. The supply of new paper versus ongoing investor demand may be quite diffic...
by Electron
Mon Jun 18, 2018 1:35 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

Out of curiosity, why is it more common to gross up tax-advantaged funds to TEY for comparability to Prime rather than comparing after tax yields? I get that this is two sides of the same coin, but I find it more grounding to think it terms of after-tax yields. I prefer to look at after-tax yields....
by Electron
Fri Jun 15, 2018 9:53 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

More basic question: are the securities in Vang muni mm mostly short term paper from issuance, or are they longer bonds at or near maturity? The complete portfolio listings are available in the Annual Reports. A large percentage of the holdings are VRDOs. https://investor.vanguard.com/mutual-funds/...
by Electron
Fri Jun 15, 2018 2:55 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vanguard Municipal Money Market VMSXX 1.39%

In regards to the yield variations, the Municipal Bond Market is considered much less liquid than the Treasury Market and that should extend to the very short term securities as well. Part of the problem may be the very high number of different individual issues which translates to lower trading vol...
by Electron
Thu Jun 14, 2018 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vangaurd Municipal Money Market VMSXX 1.39%

The taxable Money Market funds at Vanguard are maintaining longer average maturities compared with the Municipal Money Market fund. That difference may be a factor in the after-tax yield comparisons. Treasury - Average Maturity 56 days - SEC Yield 1.79% Federal - Average Maturity 54 days - SEC Yield...
by Electron
Wed Jun 13, 2018 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Municipal Money Market VMSXX 1.39%
Replies: 208
Views: 22965

Re: Vangaurd Municipal Money Market VMSXX 1.39%

Why is there so much fluctuation in muni money market yields? I believe one factor is variation in the supply of new paper. Increased supply may increase yields while decreased supply may drive down yields. I've also seen a similar effect in longer term municipal securities near the end of the year...
by Electron
Tue Jun 12, 2018 3:53 pm
Forum: Investing - Theory, News & General
Topic: Is Vanguard Small Cap Index really small cap?
Replies: 32
Views: 1949

Re: Is Vanguard Small Cap Index really small cap?

You can also see the differences in the Median Market Cap reported in the Vanguard Annual Reports.

Vanguard Small-Cap Index Fund: Median Market Cap = $4.1B

Vanguard Tax-Managed Small-Cap Fund (S&P 600 Index): Median Market Cap = $1.8B
by Electron
Wed May 23, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: Asset Class Forecasts
Replies: 47
Views: 2764

Re: Asset Class Forecasts

aburntoutcase wrote:
Tue May 22, 2018 3:48 pm
At this point, trailing 15-year total returns on the Vanguard Total Stock Market fund are 10.2% annualized, 10-year returns are 9.5% annualized.
The nine year return for VTSAX going back to May 23, 2009 is currently 15.86%.
by Electron
Tue May 22, 2018 12:35 pm
Forum: Investing - Help with Personal Investments
Topic: Pimco INCOME BOND FUND PONAX beating VWIAX Wellesley ~~ too good to be true?
Replies: 26
Views: 1938

Re: Pimco INCOME BOND FUND PONAX beating VWIAX Wellesley ~~ too good to be true?

Morningstar shows Wellesley Income outperforming PONAX over 1, 3, and 5 years.

You can make the comparison on either the Chart tab or the Performance tab. I first brought up the information page for PONAX and then added VWIAX for the comparison.
by Electron
Mon May 21, 2018 2:30 pm
Forum: Personal Consumer Issues
Topic: Cricket Wireless, Unlocked Phones, Advantages, SIM Size
Replies: 10
Views: 811

Re: Cricket Wireless, Unlocked Phones, Advantages, SIM Size

Cricket phones do not have much bloatware that I've seen. Thanks once again. I currently have the Alcatel Idol 3 which has been updated from Android 5 Lollipop to Android 6 Marshmallow via the Cricket update. I agree on the minimal bloatware although last year a new file manager seemed to install w...
by Electron
Mon May 21, 2018 1:44 pm
Forum: Personal Consumer Issues
Topic: Cricket Wireless, Unlocked Phones, Advantages, SIM Size
Replies: 10
Views: 811

Re: Cricket Wireless, Unlocked Phones, Advantages, SIM Size

Just change your SIM from Micro to Nano. They might charge you $9.99 for the new SIM. The new SIM kits are all nano with adapters for micro and full sized SIM. Thanks very much for the reply. There is a local store here and I'll plan to stop in. I assume that the phone number remains the same and t...
by Electron
Mon May 21, 2018 12:37 pm
Forum: Personal Consumer Issues
Topic: Cricket Wireless, Unlocked Phones, Advantages, SIM Size
Replies: 10
Views: 811

Cricket Wireless, Unlocked Phones, Advantages, SIM Size

I'm currently using Cricket Wireless and wondering if there are advantages or issues moving to an unlocked phone. New phones with a SIM slot seem to have moved to the smaller Nano SIM. My phone uses a Micro SIM so it looks like the choice in unlocked phones will be limited. Any suggestions on an unl...
by Electron
Wed May 16, 2018 6:06 pm
Forum: Personal Consumer Issues
Topic: Roof TV Antenna Recommendation Needed
Replies: 23
Views: 1676

Re: Roof TV Antenna Recommendation Needed

There is a wide selection available from Channel Master.

https://www.channelmaster.com/Outdoor_Antennas_s/20.htm
by Electron
Fri May 11, 2018 2:07 pm
Forum: Investing - Theory, News & General
Topic: Bond Fund Point of Indifference vs. Principle Recovery
Replies: 57
Views: 5093

Re: Bond Fund Point of Indifference vs. Principle Recovery

Here’s what I’ve been doing with VWALX, duration 6.8 years, turn over rate of 21%, risk factor of 3. It looks like the management of this “High-yield” bond fund is not nearly as risky as most “junk bond” funds. My time in this fund is to our deaths, perhaps 20-30 years, with no particular thought t...
by Electron
Mon May 07, 2018 1:33 pm
Forum: Investing - Theory, News & General
Topic: Bond Fund Point of Indifference vs. Principle Recovery
Replies: 57
Views: 5093

Re: Bond Fund Point of Indifference vs. Principle Recovery

The Wiki has a detailed explanation on the Point of Indifference under Bonds - Advanced Topics.

See the Paragraph on Duration.

https://www.bogleheads.org/wiki/Bonds:_advanced_topics
by Electron
Sat May 05, 2018 3:55 pm
Forum: Personal Consumer Issues
Topic: One space or two ...
Replies: 18
Views: 1532

Re: One space or two ...

Here is a good article on the subject. http://www.businessinsider.com/why-you-should-never-add-two-spaces-after-a-period-2015-5 I took a typing class back in the 1960s and we were taught to use two spaces. In the last month or so I became aware of this issue and have been trying to make the switch t...
by Electron
Thu May 03, 2018 3:23 pm
Forum: Investing - Theory, News & General
Topic: Vanguard High Yield Corporate - Another New Low in Dividend
Replies: 19
Views: 4388

Re: Vanguard High Yield Corporate - Another New Low in Dividend

I see an approx. avg. last couple years of a reduction in that month (Jan. or Feb.) of 12.5% of the dividend. The fund paid capital gains distributions of $0.0084 in March 2015, $0.021 in December 2015, and $0.002 in December 2016. It's possible those distributions were a factor. If reinvested, one...
by Electron
Thu May 03, 2018 1:19 pm
Forum: Investing - Theory, News & General
Topic: Vanguard High Yield Corporate - Another New Low in Dividend
Replies: 19
Views: 4388

Re: Vanguard High Yield Corporate - Another New Low in Dividend

It has that downward blip every year in either Jan. or Feb. Bond funds accrue income daily so the monthly payout depends on the number of days in the month. See my post above on February 5. If you have an account with Vanguard you should be able to see your accrued dividends every day. In my case, ...
by Electron
Wed May 02, 2018 1:34 pm
Forum: Investing - Theory, News & General
Topic: Vanguard High Yield Corporate - Another New Low in Dividend
Replies: 19
Views: 4388

Re: Vanguard High Yield Corporate - Another New Low in Dividend

Here is an updated chart on Vanguard High Yield Corporate showing the NAV and Dividend. The monthly dividend has rebounded from the low January payout. This does fit with my thoughts that losses in derivatives were a factor in the lower dividend. Note also that the NAV has continued its relatively s...
by Electron
Tue May 01, 2018 1:00 pm
Forum: Forum Issues and Administration
Topic: Please Try Out Test Posts Here
Replies: 230
Views: 188709

Re: Please Try Out Test Posts Here

FiveK wrote:
Tue May 01, 2018 12:54 pm
Don't know any details, but did find . . .
Thanks once again. Here is some additional info.

http://forums.watchuseek.com/f530/posti ... 84343.html

"postimage.org recently was cited by the Internet's registrar for a domain definition problem and had to change to postimag.cc"
by Electron
Tue May 01, 2018 12:40 pm
Forum: Forum Issues and Administration
Topic: Please Try Out Test Posts Here
Replies: 230
Views: 188709

Re: Please Try Out Test Posts Here

FiveK wrote:
Tue May 01, 2018 12:33 pm
Try changing ".org" to ".cc"
Thank you! I assume I need to edit previous posts. Any idea why that change is required?
by Electron
Tue May 01, 2018 12:26 pm
Forum: Forum Issues and Administration
Topic: Please Try Out Test Posts Here
Replies: 230
Views: 188709

Re: Please Try Out Test Posts Here

Images that I uploaded to postimages.org in recent months have not been working for several days. Here is one example in the very first post. Only the word "Image" displays. If you start a reply by clicking on quote you can see the actual image link. https://www.bogleheads.org/forum/viewtopic.php?f=...
by Electron
Sun Apr 29, 2018 12:59 pm
Forum: Investing - Theory, News & General
Topic: Do Balanced Funds Capture Returns of Volatile Market?
Replies: 13
Views: 1183

Re: Do Balanced Funds Capture Returns of Volatile Market?

Keep in mind that Vanguard Wellington Fund has a 10% range for the stock and bond allocations, and Vanguard Wellesley Income and Tax-Managed Balanced have 5% ranges. Balanced Funds are meant as long term investments. The funds would generally not respond to short term volatility in the markets. Reba...
by Electron
Sat Apr 28, 2018 1:25 pm
Forum: Investing - Theory, News & General
Topic: Do Balanced Funds Capture Returns of Volatile Market?
Replies: 13
Views: 1183

Re: Do Balanced Funds Capture Returns of Volatile Market?

I looked through the Prospectus on the Vanguard Balanced Index Fund and couldn't find any information on rebalancing thresholds. They only mention that approximately 60% of assets are allocated to stocks and approximately 40% of assets are allocated to bonds. To minimize transaction costs and also a...
by Electron
Fri Apr 27, 2018 12:52 pm
Forum: Investing - Theory, News & General
Topic: Balanced Funds Capturing Large Percentage of Stock Market Return
Replies: 15
Views: 1834

Re: Balanced Funds Capturing Large Percentage of Stock Market Return

Here is an update on the original post which did not include the ten year bond market return. All returns are effective as of 4-24-18. Ten year Total Stock Market Fund return (VTSAX) was 9.20% Ten year Total Bond Market Fund return (VBTLX) was 3.55% The ten year returns of the Balanced Funds as a pe...
by Electron
Wed Apr 25, 2018 11:14 pm
Forum: Investing - Theory, News & General
Topic: Balanced Funds Capturing Large Percentage of Stock Market Return
Replies: 15
Views: 1834

Re: Balanced Funds Capturing Large Percentage of Stock Market Return

Thanks all for the replies. The data I presented was effective 4-24-18 and from the Performance Tab on Morningstar. Under Trailing Total Returns you can select Daily, Monthly, or Quarterly which can result in different effective dates. Tax adjusted returns were not addressed which would be fine for ...
by Electron
Wed Apr 25, 2018 2:07 pm
Forum: Investing - Theory, News & General
Topic: Balanced Funds Capturing Large Percentage of Stock Market Return
Replies: 15
Views: 1834

Balanced Funds Capturing Large Percentage of Stock Market Return

I just compared the ten year returns on Morningstar for Vanguard Total Stock Market, Vanguard Balanced Index, Vanguard Wellington, Vanguard Wellesley, and Vanguard Tax-Managed Balanced. The balanced funds have captured large percentages of the ten year stock market return as represented by VTSAX (9....
by Electron
Sun Apr 22, 2018 5:02 pm
Forum: Investing - Theory, News & General
Topic: Wellesley January Price Drop? Why?
Replies: 27
Views: 3811

Re: Wellesley January Price Drop? Why?

I think this is an excellent example of why the Morningstar Star ratings are such a bad way to select funds. Look how broad that category is: 30-50% equity. No distinction between total market vs size tilts, no distinction between growth oriented and value oriented, no distinction between US and In...
by Electron
Fri Apr 20, 2018 9:40 pm
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 123
Views: 13811

Re: Divs and Cap Gains are killing me

--STCG from internal fund operation are reported on 1099DIV box 2a. The box 2a (STCG) total flows to Sch D line 13 (for me last year), or the QDI & CG Tax Worksheet line 3 (for me this year). Box 2a on the 1099-DIV reports Long Term Capital Gains distributions which will be taxed at capital gains t...
by Electron
Thu Apr 19, 2018 1:54 pm
Forum: Investing - Theory, News & General
Topic: Wellesley January Price Drop? Why?
Replies: 27
Views: 3811

Re: Wellesley January Price Drop? Why?

To see it doing so poorly relative to it's category so far this year is...disheartening...and I do wonder if it has something to do with the management changes in 2017. It looks like the portfolio manager on the equity side has been with the fund for over ten years. Two credit specialists were prom...
by Electron
Sat Apr 14, 2018 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 123
Views: 13811

Re: Divs and Cap Gains are killing me

Thanks all - Guess I will, over the next coming years, since the Trailing Returns seem to match the S&P anyway, migrate some of my higher CG generating mutual funds into my Vanguard index stock funds. That sounds like a good approach. I did the same thing with a number of high turnover funds and wr...
by Electron
Fri Apr 13, 2018 3:56 pm
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 123
Views: 13811

Re: Divs and Cap Gains are killing me

I just looked up my Cost Basis vs Mkt Value for the biggest ones... which I have held for a very long time - Not too bad overall. Make sure that the cost basis calculations include all reinvestments. You may want to do some tax planning. If your income exceeds a certain threshold you could be impac...
by Electron
Fri Apr 13, 2018 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 123
Views: 13811

Re: Divs and Cap Gains are killing me

Wonder if selling the funds, and buying their ETF twins would reduce/eliminate the CG in my taxable portfolio. Comparable ETFs may not be available for all the funds listed. I would suggest moving over time to only stock index funds which should eliminate the capital gains distributions in most cas...
by Electron
Fri Apr 06, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Any limit on IRA to ROTH in 60 day rules ?
Replies: 2
Views: 241

Re: Any limit on IRA to ROTH in 60 day rules ?

Here are the rules as posted by the IRS:

https://www.irs.gov/retirement-plans/ir ... -year-rule

If you are talking about Roth Conversions from Traditional IRA to Roth IRA, there are no limitations.
by Electron
Thu Mar 29, 2018 2:35 pm
Forum: Investing - Help with Personal Investments
Topic: Receive dividends from Index funds?
Replies: 23
Views: 2093

Re: Receive dividends from Index funds?

Taking the dividends from a taxable account is fine as there is no additional tax impact. Another option might be selling any shares you hold that are at a capital loss. See the article referenced below on Tax Loss Harvesting. Also review the section on Wash Sales. https://www.bogleheads.org/wiki/Ta...
by Electron
Mon Mar 19, 2018 10:48 pm
Forum: Investing - Help with Personal Investments
Topic: ETFs that Mimic VG Wellesley's & VG Wellington's Equity Investments
Replies: 19
Views: 2587

Re: ETFs that Mimic VG Wellesley's & VG Wellington's Equity Investments

You might also explore the Dividend ETF offerings from WisdomTree.

https://www.wisdomtree.com/-/media/us-m ... .pdf?la=en

As already mentioned, Wellesley and Wellington are actively managed funds while most ETFs track an index.