Search found 1225 matches

by bck63
Sun Aug 02, 2020 3:21 pm
Forum: Personal Investments
Topic: VWIUX or VTEAX?
Replies: 8
Views: 530

Re: VWIUX or VTEAX?

VWIUX has a much higher minimum investment of $50,000 compared to $3,000 for VTEAX. Though VWITX (Investor class share) is only $3,000. VTEB is the ETF share class version of VTEAX and has a lower ER (0.06% vs 0.09%). The ETF over the mutual fund is compelling because ETFs are "portable" -- you can...
by bck63
Sun Aug 02, 2020 1:25 pm
Forum: Investing - Theory, News & General
Topic: Is the fear of actually LIVING through inflation overblown?
Replies: 80
Views: 5163

Re: Is the fear of actually LIVING through inflation overblown?

Or holding a 30 year mortgage while continuing to stuff money into TBM because it worked well for the last ~40 years, without regard to how it performed in the 40 years prior to that. If I could ask: How did TBM perform in the 40 years prior to the last 40 years? Or, where can I find out? The Simba...
by bck63
Sun Aug 02, 2020 1:22 pm
Forum: Investing - Theory, News & General
Topic: Are Financial Advisors a Complete and Total Waste of Money?
Replies: 130
Views: 7221

Re: Are Financial Advisors a Complete and Total Waste of Money?

There are many people who can and do save, but left to their own devices, would make appallingly bad choices on investing. They are busy with work and family issues, they are creative but not analytical, they are impulsive or impatient, or many other reasons. Those people will do better with adviso...
by bck63
Sun Aug 02, 2020 12:52 pm
Forum: Investing - Theory, News & General
Topic: Is the fear of actually LIVING through inflation overblown?
Replies: 80
Views: 5163

Re: Is the fear of actually LIVING through inflation overblown?

willthrill81 wrote:
Sat Aug 01, 2020 6:23 pm
Or holding a 30 year mortgage while continuing to stuff money into TBM because it worked well for the last ~40 years, without regard to how it performed in the 40 years prior to that.
If I could ask: How did TBM perform in the 40 years prior to the last 40 years? Or, where can I find out?
by bck63
Sun Aug 02, 2020 12:19 pm
Forum: Investing - Theory, News & General
Topic: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!
Replies: 219
Views: 9451

Re: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!

That is a great book, but it primarily covers investment during the accumulation phase. It does not cover the decumulation phase. That is a much harder problem. How do you arrange your finances to draw down your life savings in a reasonable way to provide for your living expenses, contingencies, di...
by bck63
Sun Aug 02, 2020 11:20 am
Forum: Investing - Theory, News & General
Topic: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!
Replies: 219
Views: 9451

Re: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!

The bottom line is this: No one should pay more for financial advice than the $13.00 cost of John Bogle's "The Little Book of Common Sense Investing." Maybe or maybe not add a tax accountant to that and you're all done. Anything else is really a waste. That is a great book, but it primarily covers ...
by bck63
Sun Aug 02, 2020 10:45 am
Forum: Investing - Theory, News & General
Topic: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!
Replies: 219
Views: 9451

Re: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!

The bottom line is this: No one should pay more for financial advice than the $13.00 cost of John Bogle's "The Little Book of Common Sense Investing." Maybe or maybe not add a tax accountant to that and you're all done. Anything else is really a waste. That is a great book, but it primarily covers ...
by bck63
Sun Aug 02, 2020 10:24 am
Forum: Investing - Theory, News & General
Topic: Are Financial Advisors a Complete and Total Waste of Money?
Replies: 130
Views: 7221

Re: Are Financial Advisors a Complete and Total Waste of Money?

OP here. The first response to my post, and others that followed, convinced me that there are plenty of times where an advisor is worth the money.

Who knows? Maybe it would be for me as well.
by bck63
Sun Aug 02, 2020 9:41 am
Forum: Investing - Theory, News & General
Topic: Are Financial Advisors a Complete and Total Waste of Money?
Replies: 130
Views: 7221

Re: Are Financial Advisors a Complete and Total Waste of Money?

I know someone who's made a fortune during her/his lifetime and squandered it. Finally, at about age 67 - they got a financial advisor and are now saving to retire - even though they are upside down on their primary mortgage and out of work. They needed an FA many years ago. If I may gently say, wi...
by bck63
Sun Aug 02, 2020 8:23 am
Forum: Investing - Theory, News & General
Topic: Are Financial Advisors a Complete and Total Waste of Money?
Replies: 130
Views: 7221

Re: Are Financial Advisors a Complete and Total Waste of Money?

You have to remember not everybody is or wants to be a DIY; especially with finances. I'll bet you 30 to 40% of the spouses of people on this board have no idea about their overall financial savings portfolio. There's a lot of value if you can find a financial planner that can keep things simple an...
by bck63
Sun Aug 02, 2020 8:14 am
Forum: Investing - Theory, News & General
Topic: Are Financial Advisors a Complete and Total Waste of Money?
Replies: 130
Views: 7221

Are Financial Advisors a Complete and Total Waste of Money?

Another thread helped me clarify this one thought: Hiring financial advisors is a total waste of money. Is there any reason to spend any more on financial advice than the $13.00 cost of John Bogle's "Little Book of Common Sense Investing?" Maybe or maybe not add a good tax accountant, and call it a ...
by bck63
Sun Aug 02, 2020 7:21 am
Forum: Investing - Theory, News & General
Topic: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!
Replies: 219
Views: 9451

Re: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!

After reading the intro ("Dr. Pfau Wade is the program director of the Retirement Income Certified Professional designation and a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA, and is a partner with a financial advisory firm in PA"), and underst...
by bck63
Sat Aug 01, 2020 10:12 am
Forum: Investing - Theory, News & General
Topic: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!
Replies: 219
Views: 9451

Re: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!

Why is every one beating up on Rick? And Pfau too? If you want Pfau's answer to your questions, ask them yourself on your own podcast or just by emailing him. Some of those acting like Monday morning quarterbacks and anonymous critics in this thread might want to think about an apology to Rick for ...
by bck63
Fri Jul 31, 2020 7:37 pm
Forum: Personal Investments
Topic: comparable ETF version of Vanguard Lifestrategy Growth fund (VASGX) and Life Strategy Moderate Growth Fund (VSMGX)
Replies: 20
Views: 1061

Re: comparable ETF version of Vanguard Lifestrategy Growth fund (VASGX) and Life Strategy Moderate Growth Fund (VSMGX)

The LifeStrategy funds do not have ETF equivalents. Yes they do. OP can consider one of the asset allocation ETFs offered by iShares. They offer conservative, moderate, growth and aggressive ETFs -- AOK, AOM, AOR, and AOA. I own AOK. I meant in the sense that VTI is the ETF equivalent of VTSAX. Yes...
by bck63
Fri Jul 31, 2020 7:05 pm
Forum: Personal Investments
Topic: comparable ETF version of Vanguard Lifestrategy Growth fund (VASGX) and Life Strategy Moderate Growth Fund (VSMGX)
Replies: 20
Views: 1061

Re: comparable ETF version of Vanguard Lifestrategy Growth fund (VASGX) and Life Strategy Moderate Growth Fund (VSMGX)

02nz wrote:
Thu Jul 30, 2020 9:08 am
The LifeStrategy funds do not have ETF equivalents.
Yes they do. OP can consider one of the asset allocation ETFs offered by iShares.

They offer conservative, moderate, growth and aggressive ETFs -- AOK, AOM, AOR, and AOA.

I own AOK.
by bck63
Fri Jul 31, 2020 6:43 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 7311
Views: 596806

Re: U.S. stocks continue to soar!

Stef wrote:
Fri Jul 31, 2020 10:26 am
Understanding the Fed's "Money Printer" (QE, the Stock Market, and Inflation) by Ben Felix
https://www.youtube.com/watch?v=K3lP3BhvnSo
If any more money flows into his ear, his head is going to explode.
by bck63
Fri Jul 31, 2020 4:06 pm
Forum: Investing - Theory, News & General
Topic: Barron’s article on bonds
Replies: 89
Views: 5543

Re: Barron’s article on bonds

Van wrote:
Thu Jul 30, 2020 3:53 pm
Please everyone. When you are talking about invested money, it is princiPAL not principle.
As the nuns taught me, the principal is your pal.
by bck63
Fri Jul 31, 2020 4:01 pm
Forum: Investing - Theory, News & General
Topic: Barron’s article on bonds
Replies: 89
Views: 5543

Re: Baron article on bonds

stocks are not bonds. say it with me. stocks are not bonds. say it again. stocks are not bonds. understand? I hope Burton Malkiel is listening and repeating after you, because that's what he suggested on Rick Ferri's recent podcast. It's an absolutely ridiculous and dangerous suggestion for the ove...
by bck63
Fri Jul 31, 2020 9:11 am
Forum: Personal Investments
Topic: Vanguard Rate of Return?
Replies: 5
Views: 767

Re: Vanguard Rate of Return?

Things labelled as personal return are usually an internal rate of return or IRR, which is an average that takes into account contributions and withdrawals. That is why it is personal as the result would apply only to the specific details of the account. The result is usually annualized. But IRR is...
by bck63
Fri Jul 31, 2020 7:59 am
Forum: Personal Investments
Topic: Vanguard Rate of Return?
Replies: 5
Views: 767

Vanguard Rate of Return?

Is the Vanguard rate of return under "personal performance" an average annual rate of return, or something else?
by bck63
Tue Jul 28, 2020 2:12 pm
Forum: Investing - Theory, News & General
Topic: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?
Replies: 56
Views: 5266

Re: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?

The top 10 stocks in SP500 account for >27.5%. This is getting more top heavy than 2000. Though I agree that now is quite different from the 2000s. For TSM top 10 stocks account for >23.5% I've read multiple times (although I can't find source materials this morning) that pretty consistently over t...
by bck63
Mon Jul 27, 2020 4:40 pm
Forum: Investing - Theory, News & General
Topic: Who's doing 100% international equity?
Replies: 128
Views: 16992

Re: Who's doing 100% international equity?

LiveSimple wrote:
Mon Jul 27, 2020 6:36 am
bck63 wrote:
Sun Jul 26, 2020 7:20 am
LiveSimple wrote:
Tue Mar 13, 2018 6:47 am
I assume, no one
I own 100% international equities, but exclude those companies that are domiciled outside the US.
Good and great, chuckle for the day :D
Thank you for indulging my goofy humor. :sharebeer
by bck63
Sun Jul 26, 2020 1:48 pm
Forum: Investing - Theory, News & General
Topic: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?
Replies: 56
Views: 5266

Re: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?

But when the future losers move down, new winners move up, no? That is a genuine question, not a response to your statement. I'm trying to understand this. Absolutely, when one company falls it will be replaced in the top 10. When you hold market weight you also own the future winners. Owning the f...
by bck63
Sun Jul 26, 2020 11:50 am
Forum: Investing - Theory, News & General
Topic: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?
Replies: 56
Views: 5266

Re: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?

Buying the S&P500 forced you to buy a decent amount of Apple 5 or 10 years ago (and lots of other high performing stocks). This is such a great point. Tesla immediately comes to mind. If/when it makes the S&P 500, I'll own it. If it does well, I'll benefit. If it doesn't, I'll barely notice. The S&...
by bck63
Sun Jul 26, 2020 9:18 am
Forum: Personal Investments
Topic: Good Opportunity in Value Investing?
Replies: 16
Views: 1189

Re: Good Opportunity in Value Investing?

Value stocks, especially large-value as defined by common indices and Fama-French, have underperformed their "growth" and "blend" alternative for decades. Whether or not that means they're due for some mean-reversion is anyones guess. It could continue that way for a few more decades... and how man...
by bck63
Sun Jul 26, 2020 8:46 am
Forum: Investing - Theory, News & General
Topic: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?
Replies: 56
Views: 5266

Re: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?

I've read multiple times (although I can't find source materials this morning) that pretty consistently over the history of the stock market, about 4% of stocks have made up about 95% of the market's gains. If that is in fact the case, does one need to worry about the S&P 500 being top-heavy? I do ...
by bck63
Sun Jul 26, 2020 7:44 am
Forum: Investing - Theory, News & General
Topic: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?
Replies: 56
Views: 5266

Re: SP500 is top heavy - Alternatives to cap weighted - equal weighted or Mid cap fund?

The top 10 stocks in SP500 account for >27.5%. This is getting more top heavy than 2000. Though I agree that now is quite different from the 2000s. For TSM top 10 stocks account for >23.5% I've read multiple times (although I can't find source materials this morning) that pretty consistently over t...
by bck63
Sun Jul 26, 2020 7:33 am
Forum: Investing - Theory, News & General
Topic: Who's doing 100% international equity?
Replies: 128
Views: 16992

Re: Who's doing 100% international equity?

I would be curious to hear any reason for going 100% international (i.e. 100% ex-US) other than a personal prediction (hunch, gamble, valuation-based forecast, macroeconomic prognostication). Agreed 100%. Then, of course, the same should be said of those in 100% U.S. :D Good luck. US is a more capi...
by bck63
Sun Jul 26, 2020 7:20 am
Forum: Investing - Theory, News & General
Topic: Who's doing 100% international equity?
Replies: 128
Views: 16992

Re: Who's doing 100% international equity?

LiveSimple wrote:
Tue Mar 13, 2018 6:47 am
I assume, no one
I own 100% international equities, but exclude those companies that are domiciled outside the US.
by bck63
Fri Jul 24, 2020 7:27 pm
Forum: Investing - Theory, News & General
Topic: What's happening with Muni Money Market fund yields?
Replies: 153
Views: 14677

Re: What's happening with Muni Money Market fund yields?

I think what we're seeing now is more related to panic around municipal securities, related to liquidity and credit risk, although I would think that the Fed announcement about buying short-term munis would have caused yields to come down. In your view, given the above, are municipal bond funds (no...
by bck63
Fri Jul 24, 2020 6:51 pm
Forum: Investing - Theory, News & General
Topic: What's happening with Muni Money Market fund yields?
Replies: 153
Views: 14677

Re: What's happening with Muni Money Market fund yields?

I think what we're seeing now is more related to panic around municipal securities, related to liquidity and credit risk, although I would think that the Fed announcement about buying short-term munis would have caused yields to come down. In your view, given the above, are municipal bond funds (no...
by bck63
Fri Jul 24, 2020 4:28 pm
Forum: Investing - Theory, News & General
Topic: Your thoughts on negative interest rates
Replies: 162
Views: 6280

Re: Your thoughts on negative interest rates

I’m curious what others think about negative interest rates and their impact on the average investor/middle class person. For savers and non-borrowers they’re another slap in the face. Or maybe a wake up call? We can't rule them out. So if they arrive what are you going to do and not do? My solutio...
by bck63
Wed Jul 22, 2020 8:27 am
Forum: Investing - Theory, News & General
Topic: Jack Bogle - Two Fund Portfolio
Replies: 1182
Views: 120317

Re: Jack Bogle - Two Fund Portfolio

Jack Bogle always said total market indexing is the gold standard. Anything else is a dilution of that standard. I do prefer the S&P 500 over total market for several reasons. It helps me stay the course. Interesting. Please share how the S&P 500 helps you stay the course. I would rather be less di...
by bck63
Tue Jul 21, 2020 8:06 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle - Two Fund Portfolio
Replies: 1182
Views: 120317

Re: Jack Bogle - Two Fund Portfolio

Jack Bogle always said total market indexing is the gold standard. Anything else is a dilution of that standard. I do prefer the S&P 500 over total market for several reasons. It helps me stay the course. Interesting. Please share how the S&P 500 helps you stay the course. I would rather be less di...
by bck63
Tue Jul 21, 2020 6:34 pm
Forum: Investing - Theory, News & General
Topic: A bond duration glide path for retirement investing
Replies: 61
Views: 4140

Re: A bond duration glide path for retirement investing

mhc wrote:
Tue Jun 23, 2020 3:59 pm
If a person only knew when he would die, planning would be so easy.
^This. Intermediate bonds and call it a day.
by bck63
Tue Jul 21, 2020 5:51 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle - Two Fund Portfolio
Replies: 1182
Views: 120317

Re: Jack Bogle - Two Fund Portfolio

abuss368 wrote:
Mon Jul 20, 2020 5:31 pm
Jack Bogle always said total market indexing is the gold standard. Anything else is a dilution of that standard.
I do prefer the S&P 500 over total market for several reasons. It helps me stay the course.
by bck63
Tue Jul 21, 2020 5:20 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle - Two Fund Portfolio
Replies: 1182
Views: 120317

Re: Jack Bogle - Two Fund Portfolio

Triple digit golfer wrote:
Mon Jul 20, 2020 8:09 pm
Taylor, you have probably saved people millions of dollars, perhaps even more, by simply spreading your wisdom. In addition to excellent books, you've done it over tens of thousands of posts with the utmost charisma, respect, and kindness. You are one of a kind.
+1000
by bck63
Tue Jul 21, 2020 4:49 am
Forum: Investing - Theory, News & General
Topic: 0.00% Yield on the Vanguard Short-Term Treasury Fund
Replies: 196
Views: 13396

Re: 0.00% Yield on the Vanguard Short-Term Treasury Fund

Here is where things are, folks. The Vanguard Short-Term Treasury Fund Investor Shares (VFISX) had a 30-day SEC yield of 0.00% as of 7/16/20. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (for bonds) or projected dividend yield (for stoc...
by bck63
Mon Jul 20, 2020 6:45 pm
Forum: Investing - Theory, News & General
Topic: 0.00% Yield on the Vanguard Short-Term Treasury Fund
Replies: 196
Views: 13396

Re: 0.00% Yield on the Vanguard Short-Term Treasury Fund

Here is where things are, folks. The Vanguard Short-Term Treasury Fund Investor Shares (VFISX) had a 30-day SEC yield of 0.00% as of 7/16/20. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (for bonds) or projected dividend yield (for stoc...
by bck63
Mon Jul 20, 2020 4:59 pm
Forum: Investing - Theory, News & General
Topic: 0.00% Yield on the Vanguard Short-Term Treasury Fund
Replies: 196
Views: 13396

Re: 0.00% Yield on the Vanguard Short-Term Treasury Fund

As someone who lived through the great inflation of the late 1970s/early 1980s, I am amazed at today’s low rates. There was one month during 1981 when my Fidelity money market fund earned at the annualized rate of 20%. I expect that I’ll never see that again. My dad said that my grandpa had a savin...
by bck63
Sun Jul 19, 2020 4:37 pm
Forum: Investing - Theory, News & General
Topic: High Yield Bonds as Part of Total Bond Fund?
Replies: 7
Views: 564

Re: High Yield Bonds as Part of Total Bond Fund?

I dislike high yield bonds. But at 8% of the total, it would not bother me and I wouldn't worry about it at all. My mental model for high yield bonds is a holding of "high yield" (=low quality, speculative, junk) bonds is not terribly different from a holding of 2/3rd investment-grade bonds, 1/3rd ...
by bck63
Sun Jul 19, 2020 9:09 am
Forum: Investing - Theory, News & General
Topic: High Yield Bonds as Part of Total Bond Fund?
Replies: 7
Views: 564

High Yield Bonds as Part of Total Bond Fund?

Greetings - I own two ishares total bond funds -- IUSB (Core Total USD Bond Market ETF) and ISTB (Core 1-5 Year USD Bond ETF). Both contain market weight of high yield bonds, which other total bond funds exlcude. It appears as though the high-yield bonds are about 8% of the total. My question is, do...