Search found 37 matches

by TPIR
Thu Nov 19, 2020 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 628
Views: 92427

Re: Relationship mortgage discounts for moving a million assets

This seems like an outlier based on what I have read here. But I called WF yesterday to inquire about refinancing my Jumbo 10/1 at 2.625 with a balance just over $1M. They told me that due to current conditions with COVID, they are no longer offering jumbo refinances unless you had a pre-existing r...
by TPIR
Thu Nov 19, 2020 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 628
Views: 92427

Re: Relationship mortgage discounts for moving a million assets

The recent quote I received from WF for a $1.5M jumbo loan including a 0.5% discount for $1M AUM: 30-year fixed 2.75% 7/1 ARM 2.375% 10/1 ARM 2.5% Yes this is close to what I am getting as well. I'd really love to get to the 10/1 ARM @ 1.75% that I am seeing above. Wouldn't we all! But also at some...
by TPIR
Sun Nov 15, 2020 12:40 pm
Forum: Personal Consumer Issues
Topic: Items that are worth the money for the quality
Replies: 484
Views: 38829

Re: Items that are worth the money for the quality

Fresh produce Australian Wagyu filet prepared at home - great value if you like traditional filets At creative restaurants dining as a couple, ordering more than 2 appetizers and sharing main course - find apps often more interesting than mains Sous vide stick Proper cheese and dessert wine Slow scr...
by TPIR
Sun Nov 15, 2020 10:30 am
Forum: Personal Consumer Issues
Topic: Who bought an iPhone 12 Mini, and what do you think?
Replies: 47
Views: 5258

Re: Who bought an iPhone 12 Mini, and what do you think?

Got one on Friday - upgrade from a 6. I held out on any upgrades until 5G so went for this. Heavy browser user not much video and don’t like my pocket getting weighed down by a phablet so mini spike to me. Blazing fast vs the 6 - it’s the RAM and processor not the 5G although that’s a touch faster t...
by TPIR
Fri Sep 18, 2020 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Condo rich vs house poor?
Replies: 56
Views: 5116

Re: Condo rich vs house poor?

The housing market could go down too. I am waiting for the day for tooooo loooong. Hope the day can come before I die 😂... (Talking about Seattle/SF Bay area.) Well that day is here for the city of SF http://socketsite.com/archives/2020/09/number-of-homes-for-sale-in-san-francisco-continues-to-tick...
by TPIR
Thu Sep 17, 2020 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Condo rich vs house poor?
Replies: 56
Views: 5116

Re: Condo rich vs house poor?

How much is a 4br condo? Not being able to use playgrounds is temporary.

If you buy the single family home do you save the private school expense?
by TPIR
Tue Sep 15, 2020 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 628
Views: 92427

Re: Relationship mortgage discounts for moving a million assets

Citi quoting 2.375 IO 10/1 with $1mn post close no points - purchase
by TPIR
Sun Sep 13, 2020 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Credit card/united air miles
Replies: 6
Views: 600

Re: Credit card/united air miles

Chase Ultimate Rewards points have no tie to the finances of United airlines. They're a currency of Chase bank. If you're worried about Chase going under, well...you might have bigger things to adjust than your points. I'd keep the Chase points in your Chase account. If you decide to travel later yo...
by TPIR
Sat Sep 12, 2020 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11961

Re: Should we buy a $3M+ house with parental help?

Thank you. This is the fear and advice keeping me from stretching too much even though we technically could afford it. It doesn't have much bearing on a $1.5mn mortgage - you can handle that with much less income than you have now, but... Sounds like you are in finance not engineering - and finance...
by TPIR
Sat Sep 12, 2020 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11961

Re: Should we buy a $3M+ house with parental help?

It doesn't have much bearing on a $1.5mn mortgage - you can handle that with much less income than you have now, but... Sounds like you are in finance not engineering - and finance role compensation can be more volatile when the market you are working in changes. For other general planning, would no...
by TPIR
Wed Sep 02, 2020 7:02 pm
Forum: Personal Consumer Issues
Topic: Microsoft Flight Simulator 2020
Replies: 67
Views: 6784

Re: Microsoft Flight Simulator 2020

batpot wrote: Wed Sep 02, 2020 6:23 pm
TPIR wrote: Wed Sep 02, 2020 5:53 pm I tried it with an Acer Nitro 5 gaming laptop bought to try the game (Mac is primary) and found loading each flight to be excruciatingly slow.
platter drive?
SSD
NDX 1650, 4GB VRAM (maybe needs 8)
8GB RAM (maybe needs 16)
i5 processor
by TPIR
Wed Sep 02, 2020 5:53 pm
Forum: Personal Consumer Issues
Topic: Microsoft Flight Simulator 2020
Replies: 67
Views: 6784

Re: Microsoft Flight Simulator 2020

I tried it with an Acer Nitro 5 gaming laptop bought to try the game (Mac is primary) and found loading each flight to be excruciatingly slow.

Once it got started was decent though ran it at 30fps.

Will try Xbox or cloud streaming but maybe desktop ice the answer.
by TPIR
Mon Aug 24, 2020 4:52 pm
Forum: Investing - Theory, News & General
Topic: The death of nominal bonds? All Weather without bonds?
Replies: 119
Views: 8206

Re: The death of nominal bonds? All Weather without bonds?

Not sure the idea that there are times long bond yields move less when growth slows is new In their article there's a chart showing in 1937 and 1946 declines in growth, but little bond yield change, implying not much ballast to equity prices https://bridgewater.brightspotcdn.com/dims4/default/2ff28f...
by TPIR
Mon Aug 17, 2020 4:14 pm
Forum: Investing - Theory, News & General
Topic: Investors Are Clinging to an Outdated Strategy — At the Worst Possible Time
Replies: 93
Views: 12382

Re: Investors Are Clinging to an Outdated Strategy — At the Worst Possible Time

While not wasting my time reading the article, from the snippet quoted my guess is that the author has a "solution" to the touted problem that pension funds can purchase. It's a pretty short article, but you are correct. The proposed solution is "direct tail-risk hedging using equity...
by TPIR
Mon Aug 10, 2020 5:45 pm
Forum: Investing - Theory, News & General
Topic: Exposure to future real estate without buying it
Replies: 11
Views: 1516

Re: Exposure to future real estate without buying it

XHB home builders ETF generally tracks the shape of house price curve 2006-present but with more volatility along the way. Some options strategies could dampen some of the downside risk (and upside if you want that to fund the downside protection) But real estate is local and really depends on the c...
by TPIR
Mon Aug 03, 2020 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer using Seller's Agent to Lower Fees - Questions
Replies: 18
Views: 1483

Re: Buyer using Seller's Agent to Lower Fees - Questions

Not all agents will budge - was making an offer on a large home in an “exclusive” CA zip code where the selling agent was one of those blingy luxury only types.

She wouldn’t entertain a 2% rebate of a 3% buyers agent commission.

She would only offer token amount of consideration and got offended.
by TPIR
Wed Jul 29, 2020 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Are we crazy to buy a VHCOL house now?
Replies: 32
Views: 3129

Re: Are we crazy to buy a VHCOL house now?

These rentals seem on par quality wise with 'for sale' homes https://www.zillow.com/homedetails/16494-Farley-Rd-Los-Gatos-CA-95032/19745315_zpid/ https://www.zillow.com/homedetails/13065-Bell-Rd-Los-Gatos-CA-95033/122468726_zpid/ https://www.zillow.com/homedetails/16330-Matilija-Dr-Los-Gatos-CA-9503...
by TPIR
Wed Jul 29, 2020 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Are we crazy to buy a VHCOL house now?
Replies: 32
Views: 3129

Re: Are we crazy to buy a VHCOL house now?

Why not rent and try it out - esp since you're not planning on staying in the area more than 10 years
by TPIR
Tue Jul 14, 2020 9:03 pm
Forum: Personal Investments
Topic: Best brokerage/bank for HNW
Replies: 17
Views: 1980

Re: Best brokerage/bank for HNW

Union Bank does a lot of jumbos in California check with them too

But if you want a guarantee you can refinance in the future that doesn't exist at any bank - whether you're working or not. They can add or drop programs and guidelines any time.
by TPIR
Sun Jul 12, 2020 8:01 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 604
Views: 126135

Re: Vanguard's Wellesley Income fund is incredible

Those risk factors dont get adjusted in index funds - that's why I value them to diversify. I'm not sure you're getting my point: actively managed funds are not intelligently "adjusting" their exposure to these risk factors. If they were, that "timing skill" would show up a sour...
by TPIR
Sun Jul 12, 2020 7:23 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 604
Views: 126135

Re: Vanguard's Wellesley Income fund is incredible

For the fixed income Welleseley plays in - investment grade intermediate - half of funds outperformed over the last 10 years inclusive of fees. It's less than half (46.61%) and you only get that high a number because the SPIVA report wasn't controlling for additional systematic risks (e.g. term and...
by TPIR
Sun Jul 12, 2020 4:18 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 604
Views: 126135

Re: Vanguard's Wellesley Income fund is incredible

Correct - an active fund adjusts risk exposure *within* the asset class and that's the value add. That's the potential "value add": again, the evidence is clear that most active funds don't actually produce any such "value add" before expenses and virtually none do so after fees...
by TPIR
Sun Jul 12, 2020 11:33 am
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 604
Views: 126135

Re: Vanguard's Wellesley Income fund is incredible

I think the takeaway is being 100% passive has left money on the table in fixed income. That's not what the research says (including the research presented in the article you linked). Active fixed income managers, like active stock mangers, typically don't generate alpha net of fees. The perceived ...
by TPIR
Sun Jul 12, 2020 9:23 am
Forum: Personal Investments
Topic: High net worth portfolio advice
Replies: 154
Views: 22033

Re: High net worth portfolio advice

If I really want to lower my taxes I need to leave California/SF as its a double whammy on a frugal lifestyle between the high-income tax rate, as well as the forever rent of paying 2k+ a month in property taxes to own in the 2M+ range. And people forget about property tax rates in lower income tax...
by TPIR
Sun Jul 12, 2020 8:43 am
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 604
Views: 126135

Re: Vanguard's Wellesley Income fund is incredible

The academic research tells us that passive strategy's beats over two thirds of active management over the long haul. One thing for sure, this fund has had remarkable success in the past of generating higher returns with less volatility and higher Sharpe Ratio's. The research tends to be equity (st...
by TPIR
Sat Jul 11, 2020 11:51 am
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 604
Views: 126135

Re: Vanguard's Wellesley Income fund is incredible

There’s something to be said about active management in the bond markets. That and as noted ability of Vanguard to leverage income from securities lending help the alpha.
by TPIR
Sat Jul 11, 2020 7:05 am
Forum: Personal Investments
Topic: High net worth portfolio advice
Replies: 154
Views: 22033

Re: High net worth portfolio advice

Your current plans are not yet fixed. My advice would be that your priority should be to retain options and not plan commitments that would be difficult/expensive to change. In line with this: -Hold off on buying anything in SF and rent for a year or more. The buy/rent economics in the Bay Area mas...
by TPIR
Fri Jul 10, 2020 8:32 pm
Forum: Personal Investments
Topic: High net worth portfolio advice
Replies: 154
Views: 22033

Re: High net worth portfolio advice

Your current plans are not yet fixed. My advice would be that your priority should be to retain options and not plan commitments that would be difficult/expensive to change. In line with this: -Hold off on buying anything in SF and rent for a year or more. The buy/rent economics in the Bay Area mas...
by TPIR
Fri Jul 10, 2020 8:02 pm
Forum: Personal Investments
Topic: High net worth portfolio advice
Replies: 154
Views: 22033

Re: High net worth portfolio advice

I am a banker and I do a lot of mortgages. I fully endorse the responsible use of leverage. But you should absolutely pay cash for a house in this case - if you buy at all which is a debatable decision if you think you'll sell in under 7 years. For one, it makes your 100% stock allocation a LOT mor...
by TPIR
Mon Apr 27, 2020 8:31 pm
Forum: Investing - Theory, News & General
Topic: What's Behind the Long-term Decline in Interest Rates?
Replies: 41
Views: 3010

Re: What's Behind the Long-term Decline in Interest Rates?

A student of interest rates will find the quarterly letters from Lacy Hunt of Hoisington Management to be concise, pragmatic reads.

https://hoisingtonmgt.com/economic_overview.html
by TPIR
Sun Apr 26, 2020 3:37 pm
Forum: Personal Investments
Topic: I love Wellesley Income but would it get killed with rising rates? Would it be very bad to own in the 12% bracket?
Replies: 16
Views: 2560

Re: I love Wellesley Income but would it get killed with rising rates? Would it be very bad to own in the 12% bracket?

Indeed and for the 1970-1980 run it actually outperformed the stock heavier Wellington fund Intuitively stocks are a longer duration asset than the intermediate term bonds held by Wellesley (7 year avg duration currently) Looking at bond holdings looks like it's had to take some different risks than...
by TPIR
Sun Apr 26, 2020 2:37 pm
Forum: Personal Investments
Topic: I love Wellesley Income but would it get killed with rising rates? Would it be very bad to own in the 12% bracket?
Replies: 16
Views: 2560

Re: I love Wellesley Income but would it get killed with rising rates? Would it be very bad to own in the 12% bracket?

If you go on Morningstar (no login needed) you can see the daily Wellesley performance during the 1970s - click on interactive chart, set it to max and daily, then zoom in https://www.morningstar.com/funds/xnas/vwinx/performance $10,000 invested in 1970 became $20,000 in 1980 - which is basically th...
by TPIR
Thu Apr 23, 2020 5:37 pm
Forum: Personal Investments
Topic: "Making money" by actively trading... but not beating the market
Replies: 76
Views: 3754

Re: "Making money" by actively trading... but not beating the market

If he made 20% but his max drawdown was half the max drawdown of "the market" then he did a good job if risk aversion is his driver. (note I doubt he did, but for the sake of completeness) There is more to it than just absolute return. Too often you see those articles that bash hedge funds...
by TPIR
Mon Mar 30, 2020 12:14 pm
Forum: Personal Investments
Topic: European style wealth preservation funds
Replies: 0
Views: 217

European style wealth preservation funds

Not the most Bogle aligned topic given the fees and nominal underperformance, but... For investors whose primary concern is maximizing return against a sub 10-15% drawdown comfort level...and not meeting / beating an equity index benchmark... There are several funds in Europe that actively target th...
by TPIR
Sat Jan 25, 2020 5:30 pm
Forum: Investing - Theory, News & General
Topic: Improving the Dalio/Robbins All-Seasons Portfolio
Replies: 323
Views: 77242

Re: Improving the Dalio/Robbins All-Seasons Portfolio

The other mystery I'm trying to unravel... In the 2009 Bridgewater white paper, there is mention of a 'safe' portfolio - and when 'depression risk' is high they move out of All Weather into this portfolio. Appears to be composed of.. "a balanced mix of hedged global government nominal bonds, h...
by TPIR
Sun Nov 03, 2019 10:47 am
Forum: Investing - Theory, News & General
Topic: Improving the Dalio/Robbins All-Seasons Portfolio
Replies: 323
Views: 77242

Re: Improving the Dalio/Robbins All-Seasons Portfolio

Great thread - FYI was looking at the Appian Road portfolio, and looks like the guys behind it were junior employees at Bridgewater in the early 2010s, so they came at it with some insight. Also looks like one of the founders moved on to another job according to his Linkedin profile so not sure the...
by TPIR
Fri Nov 01, 2019 6:19 pm
Forum: Investing - Theory, News & General
Topic: Improving the Dalio/Robbins All-Seasons Portfolio
Replies: 323
Views: 77242

Re: Improving the Dalio/Robbins All-Seasons Portfolio

Great thread - FYI was looking at the Appian Road portfolio, and looks like the guys behind it were junior employees at Bridgewater in the early 2010s, so they came at it with some insight. Also looks like one of the founders moved on to another job according to his Linkedin profile so not sure the ...