Search found 256 matches

by jbranx
Thu Sep 06, 2018 11:50 pm
Forum: Personal Consumer Issues
Topic: Go to Istanbul next week. Any suggestions
Replies: 49
Views: 3502

Re: Go to Istanbul next week. Any suggestions

Visit some of the food markets and mercantile markets. They are a delight with all the wares and the haggling. We took a tour of the underground water system that the Romans built; pretty impressive columns and engineering. The city is clean and friendly for the most part and quite gorgeous in many ...
by jbranx
Thu Sep 06, 2018 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Implementing a QCD at Fidelity
Replies: 17
Views: 1266

Re: Implementing a QCD at Fidelity

My wife and I have done QCDs thru Fidelity the last two years by requesting checkbooks for our IRA accounts. Simple to do and then we simply write the checks to the charity and mail them directly. We keep those checkbooks well hidden so we don't inadvertently use them to pay for groceries! We keep c...
by jbranx
Thu Aug 16, 2018 10:30 pm
Forum: Investing - Help with Personal Investments
Topic: Enough. How do I invest in Australia. [as a US investor]
Replies: 63
Views: 5414

Re: Enough. How do I invest in Australia.

Australia is in its 26th year without a recession so far, a fair bit better than the rest of the developed world for sure. Apparently being recession proof for that long and having an export economy tied to China, the miracle growth story of the last half of the last century, is still not good enoug...
by jbranx
Thu Aug 16, 2018 3:04 pm
Forum: Investing - Theory, News & General
Topic: S&P 500 Foreign Sales for 2017
Replies: 0
Views: 170

S&P 500 Foreign Sales for 2017

S&P index group is out with its report of the 500's foreign sales for last year. They remain very robust at 43.62% of all sales. Here are the key details from the report: The percentage of products and services produced or sold by S&P 500 companies outside the U.S. equated to 43.62% for 2017, up fro...
by jbranx
Wed Aug 08, 2018 9:15 pm
Forum: Investing - Theory, News & General
Topic: (NEW) WisdomTree 90/60 U.S. Balanced Fund
Replies: 141
Views: 9092

Re: (NEW) WisdomTree 90/60 U.S. Balanced Fund

So is this a mild form of risk-parity trading or a different beast entirely?
by jbranx
Sat Aug 04, 2018 12:53 am
Forum: Personal Consumer Issues
Topic: Touring Singapore in October
Replies: 9
Views: 668

Re: Touring Singapore in October

Thanks for the super detailed replies! Does anyone have suggestions for tour operator or packages? I've been there many times on business and a couple times as a tourist. I would avoid a tour operator and instead research the sites you and the family are interested in. The metro line is cheap and g...
by jbranx
Wed Aug 01, 2018 3:26 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 731
Views: 69103

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

I was hoping this Fidelity move might lower my FFNOX (Four in One Index Fund) ER, but I just checked and all four index funds are the institutional shares, so not sure if those ER's are going down. The current stated ER for FFNOX is 13 bp, but there is a fee waiver in effect for only 8 bp. I hold th...
by jbranx
Wed Aug 01, 2018 2:56 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 731
Views: 69103

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

If one wants to speculate about the risks of securities lending, let's pose this question: If Fido lends securities and loses money, not unlike some money market funds that broke the buck and made the investors whole, one could presume--not assured-that corporate Fidelity would make the fund whole t...
by jbranx
Wed Aug 01, 2018 2:28 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 731
Views: 69103

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

Blackrock (Ishares) is down 5% at the moment on the Fido news. Meantime, here's ETF.com's description of the risks of securities lending: The Risks Of Securities Lending You’d think the biggest risk in securities lending is that the short-seller you lent shares to goes bankrupt. Fortunately, industr...
by jbranx
Wed Aug 01, 2018 1:01 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 731
Views: 69103

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

Back in the Gus Sauter days Vanguard sometimes beat the index benchmarks through clever trading of options, futures, etc. Haven't checked lately, but I presume all the indexers are wise to those moves today. One reason I like Fidelity over V. is that Fido guarantees if you are hacked that their insu...
by jbranx
Sat Jul 28, 2018 5:01 pm
Forum: Investing - Theory, News & General
Topic: Passive Index Investing, A Bubble Bound To Burst?
Replies: 114
Views: 11778

Re: Passive Index Investing, A Bubble Bound To Burst?

A lot of these forecasting pundits base their arguments on the end of the business cycle--a sure recession is ahead--when that is about as unforecastable as anything else about the future. Australia, for example, has gone its 26th year without a recession. Obviously, there are unique situations ther...
by jbranx
Thu Jul 26, 2018 11:33 am
Forum: Investing - Theory, News & General
Topic: FCA stock drops 15% following Marchionne's death: another argument against market cap weighting?
Replies: 45
Views: 3804

Re: FCA stock drops 15% following Marchionne's death: another argument against market cap weighting?

When we use the term "indexing" we are referring to a long history of attempting to determine if there is an optimal way to get the best investing results. Bill Fouse, who started the first index fund at Wells Fargo in the seventies, first tried managing an equal-weighted NYSE Composite. It failed m...
by jbranx
Thu Jul 26, 2018 2:33 am
Forum: Investing - Theory, News & General
Topic: If financial markets shut down, temporarily...
Replies: 42
Views: 3095

Re: If financial markets shut down, temporarily...

There are a number of scenarios that could cause extended outages. An attack on electric power grids would be one, given the recent warning that hackers have penetrated utility computers. A nuclear plant accident at Indian Point nuclear plant just north of NYC on the Hudson might be another. A New M...
by jbranx
Thu Jul 26, 2018 2:11 am
Forum: Personal Finance (Not Investing)
Topic: Any Accountants here?
Replies: 10
Views: 1333

Re: Any Accountants here?

There are a number of threads on the topic of accounting careers on here; hit the google search on the top right. Here's one from earlier this year:

viewtopic.php?t=238618
by jbranx
Thu Jul 26, 2018 2:07 am
Forum: Investing - Theory, News & General
Topic: FCA stock drops 15% following Marchionne's death: another argument against market cap weighting?
Replies: 45
Views: 3804

Re: FCA stock drops 15% following Marchionne's death: another argument against market cap weighting?

Market cap weighting is indexing; any other scheme is active management. I think that is my overstatement of what Gus Sauter, the long-term ex-manager of Vanguard's index funds, once said at a forum, maybe BH's. The point is a simple one: all the history of index success vs active mgt. is built on m...
by jbranx
Tue Jul 24, 2018 8:36 pm
Forum: Investing - Help with Personal Investments
Topic: Why VTSAX did not align with S&P 500 today?
Replies: 12
Views: 1972

Re: Why VTSAX did not align with S&P 500 today?

Nasdaq was down, midcaps and small value were down, while large caps rallied. Not an unusual phenomenon and nothing to be concerned about. The Total Market is more diversified and has captured the very good performance of small caps this year vs the large caps.
by jbranx
Sun Jul 22, 2018 8:54 pm
Forum: Investing - Theory, News & General
Topic: Equity Risk Premium over Two Centuries, 1825-2017
Replies: 27
Views: 2690

Re: Equity Risk Premium over Two Centuries, 1825-2017

I can get 4.25% from my TIAA Traditional RC account. If I’m properly understanding the above numbers, the risk of stocks make them seem like a pretty unattractive option for new purchases in my 403b. Valuation and other fundamental information don't have a sufficiently strong record of predictabili...
by jbranx
Sat Jul 21, 2018 12:17 am
Forum: Investing - Theory, News & General
Topic: Does "Time in the Market" Heal All Portfolio Wounds?
Replies: 57
Views: 5811

Re: Does "Time in the Market" Heal All Portfolio Wounds?

Not many people know that all the markets in the US closed for a period during WW I. We were very lucky to recover so quickly from 9/11. Not totally unrelated events, from what I understand. The primary reason that all the stock markets in the U.S. were closed for months during 1914 was to keep to ...
by jbranx
Fri Jul 20, 2018 9:28 pm
Forum: Investing - Theory, News & General
Topic: Does "Time in the Market" Heal All Portfolio Wounds?
Replies: 57
Views: 5811

Re: Does "Time in the Market" Heal All Portfolio Wounds?

Another good exercise, Todd, and especially a good reminder of past exuberance about an emerging market--in this case, the US at the turn of the 20th century. UK investors held investments in everything from railroads, canals, cattle farms in the West, to actual stock on the NYSE. British investors ...
by jbranx
Fri Jul 20, 2018 6:27 pm
Forum: Investing - Theory, News & General
Topic: Good Books on Investment?
Replies: 14
Views: 1074

Re: Good Books on Investment?

Oh, so you read Jason Zweig and will follow his advice. That's not the advice of Benjamin Graham who died in 1976 which was the same year that the first retail index fund was available I think although an institutional index fund was available before that year. Mr Zweig did a good job subverting Gr...
by jbranx
Fri Jul 20, 2018 5:13 pm
Forum: Personal Consumer Issues
Topic: JFK Traverlers: How to go from NJ to JFK and the opposite?
Replies: 48
Views: 2382

Re: JFK Traverlers: How to go from NJ to JFK and the opposite?

My company and I always used AirBrook, based in NJ, but has Lincoln limos and also van shuttles that go from Newark to JFK. Very reliable and they will meet you at the baggage claim with a sign with your name on it. Go to this site to get an estimate of the charge:

http://www.airbrook.net/ol/
by jbranx
Mon Jul 16, 2018 3:49 am
Forum: Investing - Help with Personal Investments
Topic: New Fidelity Solo 401k: FFNOX or FSTMX to start?
Replies: 6
Views: 566

Re: New Fidelity Solo 401k: FFNOX or FSTMX to start?

I'm a fan of FFNOX. Joined when it first opened in 1999 and been very pleased with the performance and low fees. Effectively now the fee is only eight basis points, so it's a low cost four funder. Since it auto rebalances, I find it a convenient alternative to keeping all the funds in sync as separa...
by jbranx
Sat Jul 14, 2018 3:58 pm
Forum: Investing - Theory, News & General
Topic: Six stocks make up 98% of S&P 500 gains in 2018
Replies: 76
Views: 10924

Re: Six stocks make up 98% of S&P 500 gains in 2018

Indexers need to be grateful that there are investors who believe Amazon is worth 228X P/E. Interesting, however, that Walmart, one of the all-time great contributors in capital growth and dividends to the 500, never sold at anything like a valuation that high as best as I recall. I don't believe W...
by jbranx
Sat Jul 14, 2018 3:29 pm
Forum: Investing - Theory, News & General
Topic: Six stocks make up 98% of S&P 500 gains in 2018
Replies: 76
Views: 10924

Re: Six stocks make up 98% of S&P 500 gains in 2018

Here's S&P's summary out today of the contributors and detractors from returns year to date thru July 13. IT prevails but its contribution percentage is down. Amazon alone is responsible for nearly 19% of the total return. Interesting to note that the "detractors" are made up of some of the issues ...
by jbranx
Sat Jul 14, 2018 2:41 pm
Forum: Investing - Theory, News & General
Topic: Six stocks make up 98% of S&P 500 gains in 2018
Replies: 76
Views: 10924

Re: Six stocks make up 98% of S&P 500 gains in 2018

Here's S&P's summary out today of the contributors and detractors from returns year to date thru July 13. IT prevails but its contribution percentage is down. Amazon alone is responsible for nearly 19% of the total return. Interesting to note that the "detractors" are made up of some of the issues t...
by jbranx
Fri Jul 13, 2018 2:31 am
Forum: Investing - Theory, News & General
Topic: Got a Question for the Experts Panel at the Bogleheads Conference?
Replies: 44
Views: 9566

Re: Got a Question for the Experts Panel at the Bogleheads Conference?

All the panel: There have been four major "drawdowns" in stocks since I started investing in 1970 (73-74, '87, 2001, 2008 etc). Mandelbrot in his book "The Misbehavior of Markets" warned that stocks are far more risky than modern portfolio theory suggests. The number of drawdowns and the percentages...
by jbranx
Wed Jul 11, 2018 9:13 pm
Forum: Investing - Help with Personal Investments
Topic: Dividend stocks vs. dividend ETFs
Replies: 15
Views: 1807

Re: Dividend stocks vs. dividend ETFs

I agree with the other posters that you would be far better off to skip the dividend ETFs and div. stocks. VIG ten-year returns are 9.72%; VYM, 10.23%; and VTI, total US market, 10.34%. But turnover, meaning capital gains, is much higher in the div. ETFs, 14.3% for VIG and 9% for VYM. So, you're pay...
by jbranx
Tue Jul 10, 2018 4:05 pm
Forum: Investing - Theory, News & General
Topic: Six stocks make up 98% of S&P 500 gains in 2018
Replies: 76
Views: 10924

Re: Six stocks make up 98% of S&P 500 gains in 2018

Ron Scott wrote:
Tue Jul 10, 2018 3:53 pm
Isn’t it true that a handful of stocks have explained most of the growth in the market for most of history?
The answer is yes, according to ASU professor Hendrik Bessembinder. Here's a thread on his paper and a link to it:


viewtopic.php?t=220232
by jbranx
Tue Jul 10, 2018 3:53 pm
Forum: Investing - Theory, News & General
Topic: Are Bonds Always Safe? — A Second Look at U.S. Portfolio Disasters
Replies: 108
Views: 9242

Re: Are Bonds Always Safe? — A Second Look at U.S. Portfolio Disasters

Though I'm a big proponent of TIPS, especially in bond-heavy portfolios, it needs to be said that they're not entirely a risk-free asset. At the longer maturities, they still have considerable interest rates risk — i.e., to changes in real rates (chart below). Even the Vanguard Short-Term Inflation...
by jbranx
Tue Jul 10, 2018 4:28 am
Forum: Investing - Theory, News & General
Topic: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?
Replies: 22
Views: 1103

Re: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?

See above where I suggested the Modified Gordon Model using EPS growth would likely be a more useful tool than div. growth. EPS is reported after the dividend is paid, so you use the div. to get a complete investor potential return. I was answering the OP's query; not here to defend John Burr Willia...
by jbranx
Tue Jul 10, 2018 4:10 am
Forum: Investing - Theory, News & General
Topic: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?
Replies: 22
Views: 1103

Re: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?

You are the one that said that it makes sense to look at Berkshire's dividend yield and growth in that yield while there was and is none. Since they don't have one, I thought you were conjuring one up. I never said such a thing. You are welcome to review my posts. The Gordon equation claims that yo...
by jbranx
Tue Jul 10, 2018 4:00 am
Forum: Investing - Theory, News & General
Topic: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?
Replies: 22
Views: 1103

Re: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?

You are the one that said that it makes sense to look at Berkshire's dividend yield and growth in that yield while there was and is none. Since they don't have one, I thought you were conjuring one up. I never said such a thing. You are welcome to review my posts. The Gordon equation claims that yo...
by jbranx
Tue Jul 10, 2018 2:48 am
Forum: Investing - Theory, News & General
Topic: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?
Replies: 22
Views: 1103

Re: Stock ETFs -- Should I look at the SEC yield, Distribution Yield, or TTM yield?

It's a bit difficult to figure out which numbers to use for Gordon. For the US, 1.8% for the 500 plus a div. growth rate of 1.5% p/a is logical. If you choose to do global, Vanguard currently shows 2.27% yield for Total World ETF. If you want to account for total investor yield on the 500 due to all...
by jbranx
Mon Jul 09, 2018 11:39 pm
Forum: Investing - Theory, News & General
Topic: Are Bonds Always Safe? — A Second Look at U.S. Portfolio Disasters
Replies: 108
Views: 9242

Re: Are Bonds Always Safe? — A Second Look at U.S. Portfolio Disasters

Good justification for keeping a good stock allocation as opposed to a "safe" very bond heavy portfolio. During the period from the Depression to 1958 stocks yielded more than bonds because investors decided stocks had the greater risks. As you've pointed out in other threads, investor yield is subs...
by jbranx
Mon Jul 09, 2018 1:29 am
Forum: Investing - Theory, News & General
Topic: Great investment books that are less well known?
Replies: 15
Views: 1390

Re: Great investment books that are less well known?

Anyone who enjoys Mandelbrodt's "The Misbehavior of Markets" that Nisi mentioned above, might also like Murray Gell-Mann's "The Quark and the Jaguar: Adventures in the Simple and the Complex." His Nobel was in physics but his work explores complex adaptive systems. He is a co-founder of the Santa Fe...
by jbranx
Sun Jul 08, 2018 8:24 pm
Forum: Investing - Theory, News & General
Topic: Great investment books that are less well known?
Replies: 15
Views: 1390

Re: Great investment books that are less well known?

I'd add both of Peter Bernstein's books, "Against the Gods" and "Capital Ideas." Remarkably good reads on the intellectual history of investment theory and practice.
by jbranx
Sun Jul 08, 2018 1:13 pm
Forum: Personal Consumer Issues
Topic: Long Cruises
Replies: 20
Views: 1855

Re: Long Cruises

Do you mind telling us which cruise line you enjoyed these long cruises on? Holland America's Prinsendam for SA and Antarctica and the Med. cruise. Seaborne Odyssey for the 98-day one. Regent Seven Seas for Carib., Brazil, Amazon River etc. Regent is probably best overall. Prinsendam is a smaller H...
by jbranx
Sun Jul 08, 2018 12:46 pm
Forum: Personal Consumer Issues
Topic: Long Cruises
Replies: 20
Views: 1855

Re: Long Cruises

We've been on several long cruises, up to ninety-some days, for ex., on Seaborne's larger 400-passenger ships. 68-day one to S. America/Antarctica; couple months ones in Mediterranean on other lines. Total of one year at sea since '07. We've seen most of the world with the exception of Scandinavia a...
by jbranx
Sat Jul 07, 2018 4:38 am
Forum: Personal Consumer Issues
Topic: Global Wallet/Organizer
Replies: 4
Views: 471

Re: Global Wallet/Organizer

Bosca Bi-Fold best I've ever owned. Lots of space, compact, nice leather. Great for cards and such. Bit expensive, but lasts very well.

https://www.amazon.com/gp/product/B0009 ... UTF8&psc=1
by jbranx
Sat Jul 07, 2018 1:42 am
Forum: Investing - Theory, News & General
Topic: The Worst U.S. Portfolio Disasters — A Historical Comparison
Replies: 66
Views: 5901

Re: The Worst U.S. Portfolio Disasters — A Historical Comparison

Thanks again, Simplegift, for a good depiction of what the worst can look like. I'm an early on boomer, so I grew up with a set of great grandparents, grandparents, and parents who had experienced the G. Depression. Tales of stock losses, home losses, job losses, bankruptcies, suicides, and begging ...
by jbranx
Thu Jul 05, 2018 6:06 pm
Forum: Investing - Theory, News & General
Topic: History of U.S. Dividends & Share Buybacks, 1871-2017
Replies: 32
Views: 2565

Re: History of U.S. Dividends & Share Buybacks, 1871-2017

I noticed today that Ed Yardeni is calculating the current total investor yield of the S&P 500 at 4.45%, consisting of 1.89% div. yield and 2.56% buybacks. If I'm not mistaken, Yardeni is showing gross share buyback yields not net — which is frustrating since it doesn't account for new share issuan...
by jbranx
Thu Jul 05, 2018 5:17 pm
Forum: Investing - Theory, News & General
Topic: History of U.S. Dividends & Share Buybacks, 1871-2017
Replies: 32
Views: 2565

Re: History of U.S. Dividends & Share Buybacks, 1871-2017

I noticed today that Ed Yardeni is calculating the current total investor yield of the S&P 500 at 4.45%, consisting of 1.89% div. yield and 2.56% buybacks. (There's an addition error in his chart.) See chart nine on page ten on the link below:

https://www.yardeni.com/pub/buybackdiv.pdf
by jbranx
Tue Jul 03, 2018 10:38 pm
Forum: Investing - Theory, News & General
Topic: History of U.S. Dividends & Share Buybacks, 1871-2017
Replies: 32
Views: 2565

Re: History of U.S. Dividends & Share Buybacks, 1871-2017

Thanks very much, Todd. I'd always been fascinated by Bill Bernstein's suggestion long ago in the Efficient Frontier column you linked to that a shorthand way to find the equity premium was to simply use the corporate dividend rate. Your charts showed at best only a slight correlation. It's intrigui...
by jbranx
Tue Jul 03, 2018 12:50 am
Forum: Investing - Theory, News & General
Topic: ETFs finally get respect at SEC
Replies: 4
Views: 784

Re: ETFs finally get respect at SEC

I guess this is the coming of age for the ETF. Kind of remarkable that it took 25 years to go from the exchange-traded unit investment trust (SPY) that Kathleen Moriarty--the "spider lady"--and Nate Most crafted in '93 to these standardized designs and procedures. While they did craft the product (...
by jbranx
Tue Jul 03, 2018 12:19 am
Forum: Investing - Help with Personal Investments
Topic: Found Bond Question
Replies: 8
Views: 807

Re: Found Bond Question

Any brokerage can provide the information you need. For example, just enter the cusip on Fidelity or other discount brokerage and then call the broker where you have an account to get information/advice on what to do. You can also search the website of the Muni Securities Rulemaking Board to find an...
by jbranx
Mon Jul 02, 2018 11:24 pm
Forum: Investing - Theory, News & General
Topic: ETFs finally get respect at SEC
Replies: 4
Views: 784

Re: ETFs finally get respect at SEC

I guess this is the coming of age for the ETF. Kind of remarkable that it took 25 years to go from the exchange-traded unit investment trust (SPY) that Kathleen Moriarty--the "spider lady"--and Nate Most crafted in '93 to these standardized designs and procedures. All are certainly beneficial to bot...
by jbranx
Mon Jul 02, 2018 9:49 pm
Forum: Investing - Help with Personal Investments
Topic: Expected returns for 80/20 stock bond for next 10 years.
Replies: 169
Views: 12980

Re: Expected returns for 80/20 stock bond for next 10 years.

5% estimate is for US? Or a global portfolio? Apparently the forecast is meant mainly for the US, per this quote from the transcript: Andrew Patterson: Nominal returns, particularly here in the United States, on the equity side, [are] likely to be very muted. When I say muted, we’re talking about a...
by jbranx
Mon Jul 02, 2018 8:54 pm
Forum: Investing - Help with Personal Investments
Topic: Expected returns for 80/20 stock bond for next 10 years.
Replies: 169
Views: 12980

Re: Expected returns for 80/20 stock bond for next 10 years.

Here's Vanguard's latest estimates: "While inflation is expected to remain low, investors should expect the nominal rate of return on their investments to be in the range of 3% to 5%, compared with historical averages of 9% to 11%, a panel of Vanguard economists said." So, real returns as low as 1-3...
by jbranx
Mon Jul 02, 2018 6:23 pm
Forum: Investing - Theory, News & General
Topic: Equity Risk Premium over Two Centuries, 1825-2017
Replies: 27
Views: 2690

Re: Equity Risk Premium over Two Centuries, 1825-2017

I can get 4.25% from my TIAA Traditional RC account. If I’m properly understanding the above numbers, the risk of stocks make them seem like a pretty unattractive option for new purchases in my 403b. Valuation and other fundamental information don't have a sufficiently strong record of predictabili...
by jbranx
Mon Jul 02, 2018 2:18 am
Forum: Investing - Theory, News & General
Topic: "homemade dividends" from Total Stock Market fund
Replies: 135
Views: 9204

Re: "homemade dividends" from Total Stock Market fund

I think anyone who wants to advocate for buying and holding only select dividend stocks needs to know some of the history behind the theory. Start with John Burr William's "Theory of Investment Value," published from his Harvard dissertation in 1938. It's the intellectual basis of "bird in hand" inv...