Search found 267 matches

by schooner
Wed Nov 06, 2019 12:15 am
Forum: Personal Investments
Topic: Vanguard suggesting I move to ETF's
Replies: 40
Views: 3732

Re: Vanguard suggesting I move to ETF's

I think the conversion rule is a big clue - it's a one way street. If ETFs are so great, why restrict conversion back into mutual fund shares? Why are they pushing them so hard and locking you in? You can buy and sell funds and buy and sell ETFs. You're not locked in. But Vanguard's structure and I...
by schooner
Tue Nov 05, 2019 5:44 pm
Forum: Personal Investments
Topic: Vanguard suggesting I move to ETF's
Replies: 40
Views: 3732

Re: Vanguard suggesting I move to ETF's

I think the conversion rule is a big clue - it's a one way street. If ETFs are so great, why restrict conversion back into mutual fund shares? Why are they pushing them so hard and locking you in?
by schooner
Fri Oct 11, 2019 8:47 am
Forum: Investing - Theory, News & General
Topic: BRK-A or BRK-B for our grandchildren?
Replies: 33
Views: 4283

Re: BRK-A or BRK-B for our grandchildren?

Other than price, there are two main differences between A and B: 1) A can be converted into B shares but not the other way around. This means that B can trade at a discount but rarely a premium (due to arbitrage) 2) A has greater voting rights than B. So if you have $300k burning a hole in your poc...
by schooner
Sat Sep 28, 2019 10:14 am
Forum: Investing - Theory, News & General
Topic: Article - "How Great Is Dollar Cost Averaging? You (Still) Don't Know The Half Of It!"
Replies: 35
Views: 4466

Re: Article - "How Great Is Dollar Cost Averaging? You (Still) Don't Know The Half Of It!"

Great article. I'd say the value of DCA is inversely proportional to the number of articles advocating its use. Everyone seemed to be preaching its gospel in 2009 during the bear market. The results would have been worse than lump sum. Now lots of folks are "re-analyzing" the value of DCA after a 10...
by schooner
Sat Sep 28, 2019 9:52 am
Forum: Investing - Theory, News & General
Topic: Make money in 2008: The outlook
Replies: 6
Views: 1029

Make money in 2008: The outlook

Found this gem that proves the old Yogi Berra quote: "it's tough to make predictions, especially about the future." From the article published November 2007: "Hard to believe but true: Recession is not around the corner. The consensus of the 52 economists polled each month by Blue Chip Economic Indi...
by schooner
Wed Sep 11, 2019 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 7612

Re: Bay Area budget for $350k family income

Already taken into account. How did you get that? Are we looking at the same numbers? Agree on your general sentiment btw! $1,900 mortgage interest * 12 + $10,000 SALT + $3,600 charity = $36,400 Yeah, so there a few other factors you need to consider: 1) Itemize Deduction Limitation - I think it ki...
by schooner
Wed Sep 11, 2019 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 7612

Re: Bay Area budget for $350k family income

I don’t know what kind of “vetting” the “thousands of people” did but it only took me a few minutes to find some glaring errors. Between the mortgage interest, property tax, and charity, this fictional family has $36k of itemized deductions. Why are they taking the $24k standard deduction instead? ...
by schooner
Wed Sep 11, 2019 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 7612

Re: Bay Area budget for $350k family income

I don’t know what kind of “vetting” the “thousands of people” did but it only took me a few minutes to find some glaring errors. Between the mortgage interest, property tax, and charity, this fictional family has $36k of itemized deductions. Why are they taking the $24k standard deduction instead? ...
by schooner
Wed Sep 11, 2019 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 7612

Re: Bay Area budget for $350k family income

I don’t know what kind of “vetting” the “thousands of people” did but it only took me a few minutes to find some glaring errors. Between the mortgage interest, property tax, and charity, this fictional family has $36k of itemized deductions. Why are they taking the $24k standard deduction instead? ...
by schooner
Tue Sep 10, 2019 3:54 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

To extend a bit, one of the key bits driving a leveraged strategy are the overall level of volatility and if returns are mean reverting or trend following. What might work well for one 20 year period may fall apart under a different secular period with different levels of volatility and mean revers...
by schooner
Tue Sep 10, 2019 2:40 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

When the outcome is largely determined by chance, even a good strategy can result in a bad outcome. In other words, it's dangerous to confuse luck with skill. To extend a bit, one of the key bits driving a leveraged strategy are the overall level of volatility and if returns are mean reverting or t...
by schooner
Tue Sep 10, 2019 2:27 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

When the outcome is largely determined by chance, even a good strategy can result in a bad outcome. In other words, it's dangerous to confuse luck with skill. To extend a bit, one of the key bits driving a leveraged strategy are the overall level of volatility and if returns are mean reverting or t...
by schooner
Tue Sep 10, 2019 2:11 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

Here is my proposed bet: The Vanguard Total Stock Market Index Fund (VTSAX) will outperform your 3X leveraged risk parity strategy over the next 20 years. Regarding censorship, I'm against it, even though I am 100% confident that you are wrong. And I think anyone reading these threads is intelligent...
by schooner
Tue Sep 10, 2019 1:46 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

Check back in 20 years. Bookmarked ;-) Just out of curiosity, if my strategy did maintain 20%+ CAGRs for the next 20 years, would you call me vindicated or lucky? I'd ask you the same as well: If it achieved terrible results, lagging that of a simple portfolio of index stock funds, would you say yo...
by schooner
Tue Sep 10, 2019 10:57 am
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Factor Funds vs. Total Stock Market

Imagine you’re managing a basketball team. One strategy would be to simple choose the five tallest players: that’s TSM. Another strategy would be to choose a mix of players that balances the ability to shoot from the outside, the ability to rebound, the ability to make free throws, skill at passing...
by schooner
Tue Sep 10, 2019 10:43 am
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

Heck, the average market return has been 7% annually. And if you get 3X, that’s 21%. $100k compounded over 50 years would turn into $1.3 billion. So I’ll look forward to seeing a lot of leveraged ETF folks on the Forbe’s list of wealthiest Americans in the decades to come Then I’ll admit the levera...
by schooner
Tue Sep 10, 2019 10:26 am
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

Heck, the average market return has been 7% annually. And if you get 3X, that’s 21%. $100k compounded over 50 years would turn into $1.3 billion. So I’ll look forward to seeing a lot of leveraged ETF folks on the Forbe’s list of wealthiest Americans in the decades to come Then I’ll admit the levera...
by schooner
Tue Sep 10, 2019 10:12 am
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

[Title was "Leveraged ETF messages" --admin LadyGeek] Recently there are many messages posting about the use of 3X leveraged ETFs. They are no longer limited to few theory threads, but can be found in messages asking for portfolio suggestions. Speculative investments such as 3X leveraged ETFs are n...
by schooner
Tue Sep 10, 2019 7:47 am
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Diversifying Across Factors - 2 Questions

But why does the top holding of the multi-factor Vanguard fund have a market cap of $43b (HCA Healthcare)? The SP Small Cap index range is only up to $2b. And the company isn’t in the top 10 holdings of the SP Value index either? What am I missing? Assuming you are referring to VFMF, it is explicit...
by schooner
Mon Sep 09, 2019 10:54 pm
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Diversifying Across Factors - 2 Questions

But why does the top holding of the multi-factor Vanguard fund have a market cap of $43b (HCA Healthcare)? The SP Small Cap index range is only up to $2b. And the company isn’t in the top 10 holdings of the SP Value index either? What am I missing? Assuming you are referring to VFMF, it is explicit...
by schooner
Mon Sep 09, 2019 10:25 pm
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Diversifying Across Factors - 2 Questions

But why does the top holding of the multi-factor Vanguard fund have a market cap of $43b (HCA Healthcare)? The SP Small Cap index range is only up to $2b. And the company isn’t in the top 10 holdings of the SP Value index either? What am I missing? Assuming you are referring to VFMF, it is explicit...
by schooner
Mon Sep 09, 2019 8:20 pm
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Diversifying Across Factors - 2 Questions

You could likely say that a multi-factor fund has the goal of "diversifying across factors". Specifically I'd interpret the term "diversified across factors" to mean your portfolio has a statistically-significant loading on a factor other than market beta, so market + small, or market+small+value l...
by schooner
Mon Sep 09, 2019 7:24 pm
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Diversifying Across Factors - 2 Questions

I have two questions about factor investing. And I can't find an answer on the board. 1) How many stocks would be in the US portion of a diversified factor portfolio? I know there are about 500 in the SP500 and about 3,600 in the Total Stock Market. 2) Is there a list of the general weighting for t...
by schooner
Mon Sep 09, 2019 7:17 pm
Forum: Investing - Theory, News & General
Topic: Passive in Name Only
Replies: 4
Views: 790

Re: Passive in Name Only

Thanks Hector, very interesting! I think Bogle said that cost was his primary concern. And higher turnover often leads to higher cost - no matter what your strategy is. Others can correct me but isn’t this why Bogle said a TSM fund was his ultimate goal and the SP 500 was (and has mostly been) the b...
by schooner
Mon Sep 09, 2019 7:09 pm
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Diversifying Across Factors - 2 Questions

I have two questions about factor investing. And I can't find an answer on the board. 1) How many stocks would be in the US portion of a diversified factor portfolio? I know there are about 500 in the SP500 and about 3,600 in the Total Stock Market. 2) Is there a list of the general weighting for t...
by schooner
Mon Sep 09, 2019 6:24 pm
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Re: Diversifying Across Factors - 2 Questions

At the extreme level, the US portion could only consist of an S&P 600 value fund like IJS: https://www.etf.com/IJS#overview I like Paul Merriman's approach of tilting to value and small, but not only holding small value: https://paulmerriman.com/best-in-class-etfs-for-the-ultimate-buy-and-hold-2019...
by schooner
Mon Sep 09, 2019 4:40 pm
Forum: Investing - Theory, News & General
Topic: Diversifying Across Factors - 2 Questions
Replies: 47
Views: 2461

Diversifying Across Factors - 2 Questions

I have two questions about factor investing. And I can't find an answer on the board. 1) How many stocks would be in the US portion of a diversified factor portfolio? I know there are about 500 in the SP500 and about 3,600 in the Total Stock Market. 2) Is there a list of the general weighting for th...
by schooner
Mon Sep 09, 2019 4:01 pm
Forum: Investing - Theory, News & General
Topic: Passive in Name Only
Replies: 4
Views: 790

Passive in Name Only

Found this article in the Yale Journal on Regulation: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3244991 Fascinating study. A few takeaways: - The author identified 601 US stock indices which benchmark 3,206 funds. - Only about half of the funds track the SP500 or a Total Stock Market index...
by schooner
Sun Sep 08, 2019 8:08 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

He has more discipline than the little people. Berkshire Hathaway’s leverage has only averaged about 1.6 - mostly through internal (and interest free) float. Plus, they’re sitting on a pile of cash right now. It’s not just the little guys. Dick Fuld of Lehman Brothers learned the hard way what happ...
by schooner
Sun Sep 08, 2019 7:16 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

Do you have the source for 1.6 as the ideal? Certainly nowhere near 2x or 3X ETFs. Not sure you can make a blanket statement without factoring in margin rates and margin call policies. Leveraged ETFs don't use margin and aren't subject to margin call. I was referring to the 1.6 leverage claim not t...
by schooner
Sun Sep 08, 2019 6:25 pm
Forum: Investing - Theory, News & General
Topic: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"
Replies: 78
Views: 8383

Re: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"

Bogleheads: The Motley Fool is featuring an article by Keith Speights in which he talks about Warren Buffett's Investing Plan for his wife. Many forum readers will not be surprised to learn it is primarily Vanguard S&P 500 Index Fund. I slightly prefer the Vanguard Total Stock Market Index Fund but...
by schooner
Sun Sep 08, 2019 6:14 pm
Forum: Investing - Theory, News & General
Topic: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"
Replies: 78
Views: 8383

Re: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"

Bogleheads: The Motley Fool is featuring an article by Keith Speights in which he talks about Warren Buffett's Investing Plan for his wife. Many forum readers will not be surprised to learn it is primarily Vanguard S&P 500 Index Fund. I slightly prefer the Vanguard Total Stock Market Index Fund but...
by schooner
Sun Sep 08, 2019 5:53 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

I’m all for open discussion but I think Warren Buffett put it pretty well in his 2010 Annual Letter: "When leverage works, it magnifies your gains. Your spouse thinks you're clever, and your neighbors get envious. But leverage is addictive. Once having profited from its wonders, very few people ret...
by schooner
Sun Sep 08, 2019 5:36 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

Getting back to the point of this thread. If we remain stuck in a low rate (and low return) environment for the foreseeable future, you will see more and more interest in leveraged strategies, if only for folks to reach the traditional SWRs that Bogleheads have been counting on for years. As a foru...
by schooner
Sun Sep 08, 2019 4:51 pm
Forum: Investing - Theory, News & General
Topic: [Leveraged ETFs vs. Bogleheads Investment Philosophy]
Replies: 113
Views: 4845

Re: [Leveraged ETFs vs. Bogleheads Investment Philosophy]

Getting back to the point of this thread. If we remain stuck in a low rate (and low return) environment for the foreseeable future, you will see more and more interest in leveraged strategies, if only for folks to reach the traditional SWRs that Bogleheads have been counting on for years. As a foru...
by schooner
Sun Sep 08, 2019 4:32 pm
Forum: Investing - Theory, News & General
Topic: Bogle’s Q&A with Bogleheads
Replies: 1
Views: 293

Bogle’s Q&A with Bogleheads

http://money.com/money/4514371/jack-bog ... ogleheads/

Bogle didn’t mince words!

I never saw him speak. But for those who did, what were some things that stood out for you?
by schooner
Sun Sep 08, 2019 3:02 pm
Forum: Investing - Theory, News & General
Topic: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"
Replies: 78
Views: 8383

Re: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"

If you have a huge net worth, you can have 10% in bonds without having to worry about stock volatility because that gives you enough money to live on, so you don’t have to worry about sequence of returns risk, bucket strategies, bond percent by age etc. Nice to be in the .0001% I second Ferdinand’s...
by schooner
Sun Sep 08, 2019 2:13 pm
Forum: Investing - Theory, News & General
Topic: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"
Replies: 78
Views: 8383

Re: "Warren Buffett's Investing Plan for His Family: Why It's a Good Plan for Your Family, Too"

Thanks for posting! Buffett discusses this in his 2013 Annual Letter: “both individuals and institutions will constantly be urged to be active by those who profit from giving advice or effecting transactions. The resulting frictional costs can be huge and, for investors in aggregate, devoid of benef...
by schooner
Mon Jul 29, 2019 4:14 pm
Forum: Investing - Theory, News & General
Topic: "Three Proofs That TSM Is Efficient"
Replies: 43
Views: 4477

Re: "Three Proofs That TSM Is Efficient"

Bogleheads: John Norstad, a retired mathematician at Northwestern University, did a very important study about the most "efficient" (highest return with the least risk) U.S. stock portfolio. You can read it here: Three-Proofs That TSM Is Efficient Man, that attempt by Norstad goes completely off th...
by schooner
Mon Jul 29, 2019 6:59 am
Forum: Investing - Theory, News & General
Topic: Why Mr. Bogle prefers U.S stocks
Replies: 241
Views: 19337

Re: Why Mr. Bogle prefers U.S stocks

Yes, Taylor. The British Pound is the world's reserve currency, Britannia rules the waves, and the sun never sets on the British Empire. Why invest anywhere outside of the U.K.? You know how terribly unruly those colonists across the pond are. Keep calm and carry on, God Save the King, Sail on Brit...
by schooner
Sun Jul 28, 2019 12:13 pm
Forum: Investing - Theory, News & General
Topic: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.
Replies: 53
Views: 7300

Re: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.

From today's (July 27-28, 2019), WSJ, Jason Zweig's article: "Only 21% of investors in 401(k)s made a trade in 2018, according to record-keeper Alight Solutions. A 1988 study reported that 72% of retirement savers had never changed the allocation of assets. Another study, covering 1.2 million 401(k...
by schooner
Sun Jul 28, 2019 10:18 am
Forum: Investing - Theory, News & General
Topic: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.
Replies: 53
Views: 7300

Re: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.

I can't believe though his big takeaway for a solution is variable annuities. So the answer for investors are low-cost index funds...wrapped in a ridiculously high fee annuity. It's honestly troubling who is often times held up an an "expert". Actually he didn't say that at all....he specifically s...
by schooner
Sat Jul 27, 2019 9:43 pm
Forum: Investing - Theory, News & General
Topic: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.
Replies: 53
Views: 7300

Re: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.

Not sure why there is such a negative reaction to this article. We all think we’re great at investing, but statistics show the opposite. Gallup found that only 1/3 of working adults thought that social security would be a major part of their retirement income. Yet about 2/3 of retirees depend on so...
by schooner
Sat Jul 27, 2019 5:59 pm
Forum: Investing - Theory, News & General
Topic: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.
Replies: 53
Views: 7300

Re: Investors Are Usually Wrong. A NYT Columnist (Finally) Admits He's One of Them.

Not sure why there is such a negative reaction to this article. We all think we’re great at investing, but statistics show the opposite. Gallup found that only 1/3 of working adults thought that social security would be a major part of their retirement income. Yet about 2/3 of retirees depend on soc...
by schooner
Sat Jul 27, 2019 5:22 pm
Forum: Personal Investments
Topic: The new 1 fund portfolio
Replies: 57
Views: 8713

Re: The new 1 fund portfolio

All good Vanguard option above. I think the most important decision is not which fund, but the ability to stick with it for the long term.
by schooner
Sat Jul 27, 2019 5:16 pm
Forum: Investing - Theory, News & General
Topic: Warren Buffett on Personal Finance and Investing
Replies: 6
Views: 1766

Re: Warren Buffett on Personal Finance and Investing

Thanks for sharing! A good reminder to tune out the noise and stick with it for the long term
by schooner
Sat Jul 27, 2019 11:18 am
Forum: Personal Investments
Topic: What to do in a crash
Replies: 65
Views: 7300

Re: What to do in a crash

So I understand that I am in it for 15 years and you lose by selling in a correction or crash. So, in a crash, what do you do? What are the temptations and thought proccess s that occur and what are the mistakes commonly made? It seems straightforward. Don’t sell no matter what. A trick I used duri...
by schooner
Fri Jul 26, 2019 4:29 pm
Forum: Investing - Theory, News & General
Topic: Minimum volatility ETFs
Replies: 27
Views: 1482

Re: Minimum volatility ETFs

Putting aside the fact these funds didn't even exist in 1987. Both funds were around in 1987. I tried to read the link but the two equity funds that Larry talked about definitely did not exist - VSMGX and VASGX. Every time I wade into these threads about slicing and dicing the market, it's just rea...
by schooner
Fri Jul 26, 2019 3:56 pm
Forum: Investing - Theory, News & General
Topic: De-Risking and Diversification aren't the same thing.
Replies: 106
Views: 8666

Re: De-Risking and Diversification aren't the same thing.

Any made up word is unlikely to have an identical definition to diversification. It's not a "made up word"! It's in the Oxford English Dictionary, for crying out loud, and has been in common use in risk-management literature for at least 20 years. Come on, it's buzz word. Just like Smart Beta or Fa...
by schooner
Fri Jul 26, 2019 3:29 pm
Forum: Investing - Theory, News & General
Topic: Minimum volatility ETFs
Replies: 27
Views: 1482

Re: Minimum volatility ETFs

Why 1987 again, that just seems like a strange year? This one is easy: Vanguard Total Bond Market Index Fund (VBMFX) launched on December 11, 1986 so January, 1987 is the first full month of returns for that fund. That is true. But I'm confused because in the linked thread Larry suggested using VAS...