Search found 159 matches

by Badger1754
Tue Feb 18, 2020 10:51 pm
Forum: Personal Investments
Topic: Securities Backed Line of Credit (SBLOC) alternatives
Replies: 1
Views: 126

Securities Backed Line of Credit (SBLOC) alternatives

Hi all. Posted earlier regarding helping my FIL unwind from Merrill . A new conundrum has come up. Apparently, he had a sizable loan under a Securities Backed Line of Credit (SBLOC) known at Merrill as a Loan Management Account . I got my hands on account agreement tonight and read it carefully and ...
by Badger1754
Tue Feb 18, 2020 5:00 pm
Forum: Personal Investments
Topic: Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch
Replies: 34
Views: 3139

Re: Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch

Update. I called around. The bank where I have my student loans offered 2.75% with likelihood of going lower depending on their assessment of his business. It looks like we can cut his investment expenses from a weighted average of 150 bps (wrap + underlying fund fees) down to 4-5 bps. And probably ...
by Badger1754
Mon Feb 17, 2020 4:10 pm
Forum: Personal Investments
Topic: Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch
Replies: 34
Views: 3139

Re: Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch

That is not unreasonable. He has obviously been doing that for years. Does it say he has to invest in the list of garbage you mentioned earlier? Or were the fees so shocking that he no longer wants to invest there? Nope, it's just an asset threshold in the "managed account" category. He's all-in to...
by Badger1754
Mon Feb 17, 2020 4:00 pm
Forum: Personal Investments
Topic: Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch
Replies: 34
Views: 3139

Re: Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch

Update. First, thanks so much for everyone who weighed in. As suggested, I showed this thread to my FIL. He poured two glasses of wine, went and got all his paper statements from Merrill and put me to work. About an hour later, I showed him a breakdown of 1) how much he was currently paying to Merri...
by Badger1754
Mon Feb 17, 2020 11:26 am
Forum: Personal Investments
Topic: Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch
Replies: 34
Views: 3139

Father-in-law "trapped" in a "teaser" interest rate deal from Merrill Lynch

My father-in-law asked me to sit down with him over this long weekend to go over some of his financials. He knows my wife and I have been long standing happy Bogleheaders, and wanted some insight. I've always shied away from helping him with his affairs, but since he asked, I'll help. Here's his sit...
by Badger1754
Sun Feb 02, 2020 1:51 pm
Forum: Investing - Theory, News & General
Topic: Badger1754 goes to a state pension fund dinner
Replies: 19
Views: 1287

Re: Badger1754 goes to a state pension fund dinner

Was there a consensus of opinion on who gets defaulted on? Pensioners, taxpayers, bondholders, current and future state employees, All of the above? Federal bailout? Good question! That wasn't asked. But you might look at Detroit, Puerto Rico, Central States for examples. Usually a combination of p...
by Badger1754
Sun Feb 02, 2020 1:19 pm
Forum: Investing - Theory, News & General
Topic: Badger1754 goes to a state pension fund dinner
Replies: 19
Views: 1287

Re: Badger1754 goes to a state pension fund dinner

dknightd wrote:
Sun Feb 02, 2020 1:18 pm
Did you really type all that based on what you remember from the meeting?
Yes. It was an informative meeting, and as I mentioned, most of this wasn't "new news". Mostly the anecdotes/comments I found interesting.
by Badger1754
Sun Feb 02, 2020 1:15 pm
Forum: Investing - Theory, News & General
Topic: Badger1754 goes to a state pension fund dinner
Replies: 19
Views: 1287

Re: Badger1754 goes to a state pension fund dinner

This should be on the front page of the New York Times. Sadly, by the time the chickens really come home to roost, the perpetrators of this slow-motion theft will mostly be out of office or dead, and their successors will have to pick up the pieces. That's the really sad part. This info is not new ...
by Badger1754
Sun Feb 02, 2020 12:54 pm
Forum: Personal Investments
Topic: WealthFront account
Replies: 13
Views: 895

Re: WealthFront account

I posted on this here.

Basically, for the business model to succeed, they either need to raise fees massively or grow their AUM massively. The latter is not likely to happen at the pace required, so you are starting to see action on the former.

I would avoid.
by Badger1754
Sun Feb 02, 2020 12:46 pm
Forum: Investing - Theory, News & General
Topic: Badger1754 goes to a state pension fund dinner
Replies: 19
Views: 1287

Re: Badger1754 goes to a state pension fund gathering

palanzo wrote:
Sun Feb 02, 2020 12:44 pm
How is this going to affect those of us who have invested carefully and do not have a public pension? What can we do to protect ourselves?
  1. You did the right thing.
  2. You won't be in as much trouble as these poor schlubs.
  3. Continue the Boglehead way.
by Badger1754
Sun Feb 02, 2020 12:40 pm
Forum: Investing - Theory, News & General
Topic: Badger1754 goes to a state pension fund dinner
Replies: 19
Views: 1287

Badger1754 goes to a state pension fund dinner

I recently attended a gathering of state pension fund executives. Discussion was held under Chatham House Rules (you can report what was said, but not who was there, or who said what). Some of it is undoubtedly "old news" to this group, but a few observations stand out. Some comments below. State pu...
by Badger1754
Fri Jan 17, 2020 10:03 am
Forum: Personal Investments
Topic: Silly questions about Vanguard's "tiers"
Replies: 19
Views: 2064

Re: Silly questions about Vanguard's "tiers"

Only Vanguard products count, so non-Vanguard mutual funds don't count nor do individual stocks. OTOH, it really doesn't matter since nobody gets anything especially useful from Vanguard no matter what tier they are in. What about non-Vanguard ETFs? Are they treated like non-Vanguard mutual funds?
by Badger1754
Fri Jan 17, 2020 9:55 am
Forum: Personal Investments
Topic: Silly questions about Vanguard's "tiers"
Replies: 19
Views: 2064

Re: Silly questions about Vanguard's "tiers"

RickBoglehead wrote:
Fri Jan 17, 2020 9:53 am
All of the above I believe. What doesn't count are retirement accounts like 401ks.
Hmm, my 401(k)s are not held at Vanguard, but my Roth IRAs are.
by Badger1754
Fri Jan 17, 2020 9:51 am
Forum: Personal Investments
Topic: Silly questions about Vanguard's "tiers"
Replies: 19
Views: 2064

Silly questions about Vanguard's "tiers"

I read the content on the front page about their "tiers" (Voyager, Voyager Select, Flagship, Flagship Select). My question is... what counts in the calculation (based on holdings in Vanguard Brokerage accounts)? Vanguard mutual funds and ETFs, presumably Non-Vanguard ETFs? (I hold a bunch for TLH pu...
by Badger1754
Sun Jan 12, 2020 9:21 am
Forum: Investing - Theory, News & General
Topic: Value of Active and Ongoing Reading of the Bogleheads Forums
Replies: 104
Views: 8924

Re: Value of Active and Ongoing Reading of the Bogleheads Forums

As a wise Jedi Master once said...

[distracting meme removed by admin LadyGeek]
by Badger1754
Sun Jan 12, 2020 8:28 am
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 433
Views: 93153

Re: What age did you reach 100K networth?

I fondly remember when my bonus hit in December 2012 when I, at age 26, hit $0 net worth ($150k of student loans). I celebrated by having an extra cocktail at dessert with my then fiancée. I cleared $100k of net worth in November 2014 (23 months). $200k in January 2016 (14 months). $300k in October ...
by Badger1754
Wed Jan 08, 2020 5:36 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Looks At Machine Learning In Addition To Traditional CAPE For Predicting Long Term Equity Returns
Replies: 4
Views: 520

Re: Vanguard Looks At Machine Learning In Addition To Traditional CAPE For Predicting Long Term Equity Returns

Fascinating! I did notice how they just showed their approach worked when "backtested" against historical actual data -- but they did not provide a "forward curve" for the S&P 500. But even if they did, it will work... until efficient markets take their course, and it doesn't work anymore :annoyed I...
by Badger1754
Tue Jan 07, 2020 7:16 am
Forum: Personal Investments
Topic: Transitioning out an employer 401(k)
Replies: 6
Views: 527

Re: Transitioning out an employer 401(k)

I'm surprised your employer puts anything in your Roth 401(k) since I believe the law is that they can only put their bits into your traditional 401(k). Ah, that makes a lot of sense all of a sudden. I put my piece in Roth 401(k), but my employer puts their match in Traditional 401(k). Not asked: W...
by Badger1754
Tue Jan 07, 2020 7:02 am
Forum: Personal Investments
Topic: Transitioning out an employer 401(k)
Replies: 6
Views: 527

Transitioning out an employer 401(k)

Happy New Year, Bogleheads community! There's a good chance I may leave my employer in the next few months. I'm starting to investigate the implications of transitioning out my 401(k). Two things to keep in mind: 1. I have been maxing out my Roth IRA (and then backdoor Roth IRA) every year since I b...
by Badger1754
Fri Dec 20, 2019 1:11 pm
Forum: Investing - Theory, News & General
Topic: WSJ: Corporate Leaders Trust - a passive fund frozen in 1935
Replies: 22
Views: 2592

WSJ: Corporate Leaders Trust - a passive fund frozen in 1935

The Fund That Does a Lot by Doing Nothing Fascinating article. Snippets below. Still, the 0.59% expense ratio is extortion. The fund, known today as Voya Corporate Leaders Trust, was launched Nov. 18, 1935, with its hands tied. It would hold the identical number of shares in each of its 30 stocks. ...
by Badger1754
Tue Nov 05, 2019 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Selling a family business
Replies: 2
Views: 449

Selling a family business

For the Bogleheads here (of the boomer generation) who exited family-owned businesses, how did you do it? Where did you start? My father-in-law is in his 70s and recently asked me for my thoughts on the next generation of his family company. It's got EBITDA in the low 7 figures, and is in the specia...
by Badger1754
Wed Sep 18, 2019 3:58 pm
Forum: Personal Investments
Topic: Primerica
Replies: 20
Views: 1244

Re: Primerica

by Badger1754
Sun Aug 25, 2019 9:37 am
Forum: Personal Investments
Topic: Age 92 Dad Wants to Boost stocks
Replies: 71
Views: 12587

Re: Age 92 Dad Wants to Boost stocks

I am reminded of this quip by Roy Neuberger, who was 105 when Lehman Brothers collapsed. In March 2009, as the financial-market turmoil reached a crescendo, 105-year-old Roy Neuberger summoned money manager Jeff Bolton to his suite at the Pierre Hotel. Bolton was a partner at Neuberger Berman, the f...
by Badger1754
Thu Jun 20, 2019 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

Hello friendly Internet strangers - an update on this. It turns out that my supporters within my division (which included several partners) proactively reached out to the head my division (1 level down from CEO) to ask what could be done. The head of my division invited me to dinner last night and s...
by Badger1754
Sun Jun 16, 2019 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

If you were to leave can you bring clients with you or will you be subject to a non-compete? I don't know if I would have a non-compete were I to leave. I do know that my firm has a ton of support infrastructure (market data, research, etc.) that would be prohibitively expensive to duplicate indivi...
by Badger1754
Sun Jun 16, 2019 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

I've never seen going against the grain work out well with an employer. A colleague would always say to this, "Even if you're right, you're still wrong." I know. But I also know that groupthink is what leads to Kodak, and Blockbuster, and Xerox.... EDIT: what I am hearing from this is that if I thi...
by Badger1754
Sun Jun 16, 2019 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

livesoft wrote:
Sun Jun 16, 2019 7:45 pm
Rabbi, priest, imam, anonymous internet forum. Who wears the pants in this sequence of advisors?
Why, the one who convinces me of truth through reasoned debate and probabilistic survey of outcomes, not dogma, of course :beer

That and whoever has the best food.
by Badger1754
Sun Jun 16, 2019 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

Are we talking law or management consulting? If the latter, there are plenty of firms that would love to have your expertise on staff. That's interesting. Why do you say that? To answer your question, I guess it would fall more on the management consulting side of the spectrum, but most of us are l...
by Badger1754
Sun Jun 16, 2019 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

You are destroying your employer's revenue stream. So, why would they make you a partner? You are the enemy. And that is the issue with a partnership. Some see it as an existential threat that must be eliminated. Others see it as getting us ahead of the curve of disruption and obsolescence, which i...
by Badger1754
Sun Jun 16, 2019 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

You’re not partner material at this firm. The data analytics or whatever you’re doing. Does it have the potential to make gobs of money? Can you sell that potential to someone? Possibly at another firm? That’s how you make partner someplace. Yes. Yes it does. More than gobs. But is also threatens p...
by Badger1754
Sun Jun 16, 2019 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Re: Career advice — asking for the “gray hair perspective”

Grey hair or no hair? :twisted: The writing is on the wall - you are not partner material now, and you are going to get the same song and dance going forward unless by some stroke of genius you land a huge whale of a client that overrides any and all excuses made in the past. If you leave, you are ...
by Badger1754
Sun Jun 16, 2019 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice — asking for the “gray hair perspective”
Replies: 50
Views: 4506

Career advice — asking for the “gray hair perspective”

Hi all, I’ve been struggling with a situation at work and decided that as a relatively youthful hothead, I would benefit some advice from the Bogleheads who have “been there, done that” (a nice way of saying, the “gray hair perspective”) — so I am asking from the standpoint of humility and interest....
by Badger1754
Sat Mar 16, 2019 8:31 am
Forum: Investing - Theory, News & General
Topic: Finally received my settlement from Lehman Brothers - how I became a Boglehead
Replies: 20
Views: 4142

Re: Finally received my settlement from Lehman Brothers - how I became a Boglehead

Timely article in the WSJ on the index composition trade , which drove a lot of prop activity. Events like these can drive upwards of $100B of trading. The ebbs and flows of cash offer a window into the behind-the-scenes mechanics of ETFs. Called “kickers” or “friendlies,” these sizable trades are t...
by Badger1754
Mon Mar 11, 2019 12:12 pm
Forum: Investing - Theory, News & General
Topic: Finally received my settlement from Lehman Brothers - how I became a Boglehead
Replies: 20
Views: 4142

Re: Finally received my settlement from Lehman Brothers - how I became a Boglehead

I recently saw an add from a local broker: "How to become a pro trader". Technical analysis and the likes. It's really sad to see how people are lured into a game they can't win. That made me chuckle. There was a "technical analysis" newsletter circulated around the floor daily with all sorts of ca...
by Badger1754
Mon Mar 11, 2019 11:37 am
Forum: Investing - Theory, News & General
Topic: Finally received my settlement from Lehman Brothers - how I became a Boglehead
Replies: 20
Views: 4142

Re: Finally received my settlement from Lehman Brothers - how I became a Boglehead

Pretty sure front-running client flow is illegal... Two distinctions here. First, we were looking at metadata, as in aggregate flows cut by industry, so there was no specific stock to front-run. Second, "index front-running" was more of an index arbitrage move was and is legal . Index funds, which ...
by Badger1754
Mon Mar 11, 2019 9:53 am
Forum: Investing - Theory, News & General
Topic: Finally received my settlement from Lehman Brothers - how I became a Boglehead
Replies: 20
Views: 4142

Re: Finally received my settlement from Lehman Brothers - how I became a Boglehead

I'm just curious and you certainly don't have to answer, but we all here about how much money these guys make. So what's the real number between the agency and prop trader? So the senior guys got paid in a combination of cash, stock, and options. Also, sometimes they had contracts that could claim ...
by Badger1754
Mon Mar 11, 2019 9:07 am
Forum: Investing - Theory, News & General
Topic: Finally received my settlement from Lehman Brothers - how I became a Boglehead
Replies: 20
Views: 4142

Finally received my settlement from Lehman Brothers - how I became a Boglehead

Over the weekend, I received my settlement check from the estate of Lehman Brothers, my first employer out of college. Over a decade after the bankruptcy. It was for $13 and change. See below. I won't get into how much the equity was originally worth (or how it was worth at its peak :oops:), but suf...
by Badger1754
Tue Jan 22, 2019 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: If you work in several states as a mngmt consultant, where do you file your taxes?
Replies: 19
Views: 1443

Re: If you work in several states as a mngmt consultant, where do you file your taxes?

I travel a lot for work and work in several states over the course of the year. The rule at my firm is that if you work 10 days or more in any state, they withhold tax for that state, and you have to file a return as it shows up on your W2. If you work < 10 days, they do not withhold tax, but its un...
by Badger1754
Sun Jan 20, 2019 11:43 am
Forum: Personal Investments
Topic: Stay the course is hard
Replies: 74
Views: 8511

Re: Stay the course is hard

Here's what my parents did in 2008. Admittedly it was a bit contrived, but it worked :happy. They had a decent and disciplined AA (60/40) or something like that in index funds at Fidelity. Both were employed and saving well, so day to day expenses were not a concern. They reset the password on their...
by Badger1754
Tue Jan 15, 2019 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: WSJ: This Alabama Quarterback Wants to Be Your Insurance Salesman
Replies: 9
Views: 1772

WSJ: This Alabama Quarterback Wants to Be Your Insurance Salesman

https://www.wsj.com/articles/this-alabama-quarterback-wants-to-be-your-insurance-salesman-11546799477 But most college players eventually need a regular day job. Many of them find it in the places where they remain local celebrities, sometimes working for alumni or supporters of the schools for whic...
by Badger1754
Sun Jan 13, 2019 2:46 pm
Forum: Personal Investments
Topic: Vanguard PRIMECAP and Capital Opportunity
Replies: 64
Views: 8974

Vanguard PRIMECAP and Capital Opportunity

Has anyone had experience with Vanguard PRIMECAP and/or Capital Opportunity funds?

As far as I can tell.. they appear to be Vanguard-branded non-index actively managed funds :shock:

What is the catch here? Other than past performance doesn't necessarily equate to future gains.
by Badger1754
Mon Dec 31, 2018 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes incorrectly withheld - avoiding penalties
Replies: 9
Views: 710

Re: Taxes incorrectly withheld - avoiding penalties

Update on this. Did the (very) painful AI process and sure enough.. neutralized nearly all of my underpayment penalty. It's like <$10 left. Thank so much to this forum! Good to hear! Just remember to pay the estimated tax underpayment by Jan 15. Happy New Year! Just dumped it into DirectPay :) Happ...
by Badger1754
Mon Dec 31, 2018 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes incorrectly withheld - avoiding penalties
Replies: 9
Views: 710

Re: Taxes incorrectly withheld - avoiding penalties

Update on this. Did the (very) painful AI process and sure enough.. neutralized nearly all of my underpayment penalty. It's like <$10 left.

Thank so much to this forum!
by Badger1754
Mon Dec 31, 2018 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Taxes incorrectly withheld - avoiding penalties
Replies: 9
Views: 710

Taxes incorrectly withheld - avoiding penalties

I just got my bonus yesterday and from the looks of it, my employer withheld too little. I entered preliminary numbers into Turbotax and it appears I will owe multiple five figures. I am not relishing the penalties and interest that will inevitably result. My question - can I make a massive prepayme...
by Badger1754
Sun Dec 23, 2018 1:57 pm
Forum: Investing - Theory, News & General
Topic: Vanguard says international will beat US stocks in next decade
Replies: 155
Views: 16631

Re: Vanguard says international will beat US stocks in next decade

The fact that VTI contains those foreign-domiciled and US-traded companies says to me that the index builders are quite sophisticated in their inclusion rules. Let me ask you this, when Accenture goes to bid on a systems implementation project for a Chinese state-owned enterprise, do you think the ...
by Badger1754
Sun Dec 23, 2018 1:26 pm
Forum: Investing - Theory, News & General
Topic: Vanguard says international will beat US stocks in next decade
Replies: 155
Views: 16631

Re: Vanguard says international will beat US stocks in next decade

If you want to have a reasoned debate based on facts, get your facts straight before making your claims. Saying things like “US-traded stocks are in the US indexes” are simply wrong and could have been confirmed with a simple Google search. I really don't believe you are correct. Accenture (Swiss),...
by Badger1754
Sun Dec 23, 2018 1:17 pm
Forum: Investing - Theory, News & General
Topic: Vanguard says international will beat US stocks in next decade
Replies: 155
Views: 16631

Re: Vanguard says international will beat US stocks in next decade

From an investor's standpoint, having operations in a country is very different from being domiciled within that country. Exactly, as an investor, I care about the underlying economic activity generated by the company (which determines its performance and value), not where it is legally domiciled (...
by Badger1754
Sun Dec 23, 2018 1:15 pm
Forum: Investing - Theory, News & General
Topic: Vanguard says international will beat US stocks in next decade
Replies: 155
Views: 16631

Re: Vanguard says international will beat US stocks in next decade

JohnDindex wrote:
Sun Dec 23, 2018 1:03 pm
Nestle is not in the sp 500.
Ah, sorry, I didn't say the S&P 500. I said US indices like the S&P 500. In this case, I was thinking of Alibaba which is in the NYSE Composite.