Search found 6793 matches

by Fallible
Wed Jul 17, 2019 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Any downside to using 'trusted contact' feature for financial accounts?
Replies: 9
Views: 725

Re: Any downside to using 'trusted contact' feature for financial accounts?

What exactly does this service offer and who is the "trusted" one? Is there a fee in there somewhere? It is a new (within the last couple of years) FINRA (regulatory agency) requirement. How it has ended up working in real-life practice, I don't know. (So, sorry, this post isn't answering the OP's ...
by Fallible
Wed Jul 17, 2019 5:16 pm
Forum: Personal Investments
Topic: Help for elderly neighbor
Replies: 20
Views: 1431

Re: Help for elderly neighbor

Thank you for the responses. My sense is that she probably is savvy enough to do an online bank, if she wants to. I hadn't thought of maybe negotiating a higher rate at her credit union, nor had I considered to warn her against sales pitches from the CU if she does that. I'll casually suggest those...
by Fallible
Wed Jul 17, 2019 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Any downside to using 'trusted contact' feature for financial accounts?
Replies: 9
Views: 725

Re: Any downside to using 'trusted contact' feature for financial accounts?

What exactly does this service offer and who is the "trusted" one? Is there a fee in there somewhere?
by Fallible
Wed Jul 17, 2019 11:06 am
Forum: Personal Investments
Topic: Help for elderly neighbor
Replies: 20
Views: 1431

Re: Help for elderly neighbor

I would be concerned that she is sharing personal financial information with a neighbor, unless you are also friends or you are also a friend of her family or her other friends. Sometimes older people worry excessively about money and talk to anyone about it because of cognitive decline or possibly ...
by Fallible
Tue Jul 16, 2019 12:36 pm
Forum: Personal Investments
Topic: Poor financial advisor performance
Replies: 71
Views: 3835

Re: Poor financial advisor performance

jjodod wrote:
Tue Jul 16, 2019 8:45 am
...
The most important advice our new FA has given us is the importance of asset allocation and having a formal plan. ...
But these are investing basics you could've learned from the Bogleheads' wiki for free.
by Fallible
Mon Jul 15, 2019 10:41 am
Forum: Personal Investments
Topic: Switching from passive to active management
Replies: 100
Views: 6957

Re: Switching form passive to active management

Thanks everyone for your help and guidance, it’s helping me a lot! I’d like to clarify that I’m not considering this multi-family office because I want to switch to active management. My interest for them comes from the wide range of services they offer (estate planning etc.) which are “unfortunate...
by Fallible
Sun Jul 14, 2019 6:51 pm
Forum: Personal Investments
Topic: Switching from passive to active management
Replies: 100
Views: 6957

Re: Switching form passive to active management

... And yet, I’m now considering a 70/30 allocation at this family office. Part of it is because they seem to limit the volatility quite a bit, and part of it is because I’m not “responsible” for major losses anymore, so somehow I feel comfortable with a more aggressive portfolio. ... But you are s...
by Fallible
Fri Jul 12, 2019 1:48 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3844
Views: 1105498

Re: What Book Are You Currently Reading? Part VI

Àq I'm a couple of chapters into The Secret Agent by Joseph Conrad. I'm having some trouble getting into it. I had no trouble with Heart of Darkness -- a great book -- but in the past I gave up on Nostromo . Any words of encouragement? I don't know if this would be encouraging or discouraging, but r...
by Fallible
Fri Jul 12, 2019 1:15 pm
Forum: Personal Investments
Topic: Should I sell?
Replies: 7
Views: 740

Re: Should I sell?

Jack Bogle, who well understood investor emotions, once said that "Investing shouldn't give you a rush." Here's the context: I look at indexing as being simple and, sad to say, boring. Be bored by the process but elated by the outcome. In Vegas, it’s the opposite. You’re elated by the process, by th...
by Fallible
Fri Jul 12, 2019 12:32 pm
Forum: Investing - Theory, News & General
Topic: Timing the market
Replies: 28
Views: 1701

Re: Timing the market

owenmia wrote:
Fri Jul 12, 2019 12:04 pm
... Just seems like there should be a way to figure it out.
There is a way to time the market: predict its future - accurately.
by Fallible
Thu Jul 11, 2019 6:45 pm
Forum: Investing - Theory, News & General
Topic: Three most important elements of investment success
Replies: 67
Views: 5539

Re: Three most important elements of investment success

I love it! One question please: Would you explain your statement: "Complexity is the mother of simplicity."? My friend, Allan Roth (who is undergoing hip surgery today) often says, "There is complexity in finding simplicity". Einstein says, "Out of complexity, find simplicity" I said, "Complexity i...
by Fallible
Thu Jul 11, 2019 5:50 pm
Forum: Investing - Theory, News & General
Topic: Three most important elements of investment success
Replies: 67
Views: 5539

Re: Three most important elements of investment success

Thanks, Rick, for that firm nudge back to simplicity, to the forest we too often lose sight of for the trees, to the big picture that can tell us what's really important to invest well, and to good old, plain old common sense. It's another reminder why (to paraphrase) investing is simple, but not we...
by Fallible
Wed Jul 10, 2019 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house for Mom - Pros, cons, pitfalls?.
Replies: 55
Views: 3504

Re: Buying a house for Mom - Pros, cons, pitfalls?.

... I had the bright idea to buy a house for Mom (my MIL), with the main objective being to stabilize her living expenses. ... Has she said she wants to live in a house and own rather than rent? Does she understand the loan and help needed from family members to make this possible? Does she have he...
by Fallible
Sun Jul 07, 2019 2:35 pm
Forum: Investing - Theory, News & General
Topic: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE
Replies: 36
Views: 2856

Re: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE

This question is about financial literacy courses and what they should include. Some financial experts suggest not only adding Behavioral Finance to financial literacy classes, but making it the main part of them (in addition to the mechanics of personal finance and investing). The idea is to show p...
by Fallible
Sun Jul 07, 2019 2:18 pm
Forum: Personal Investments
Topic: If I want to time the market
Replies: 59
Views: 2456

Re: If I want to time the market

If I believe that the market is at a local high point and want to take 20% of my total stock market index fund off the table, where should I put the money temporarily? A moeny market fund? I may or may not put the money back unless there is a 20% drop in equity price. Are you describing market timi...
by Fallible
Fri Jul 05, 2019 11:58 am
Forum: Investing - Theory, News & General
Topic: Allan Roth: Probabilities, Truth, and Consequences
Replies: 40
Views: 3794

Re: Allan Roth: Probabilities, Truth, and Consequences

Also, a question: You say your client clearly understood the logic of your argument, but "emotions prevented this most logical and mathematical person to lower risk further." Can you say what emotions held the client back? Or did he understand himself what they were and what role they might have pl...
by Fallible
Wed Jul 03, 2019 6:19 pm
Forum: Investing - Theory, News & General
Topic: Allan Roth: Probabilities, Truth, and Consequences
Replies: 40
Views: 3794

Re: Allan Roth: Probabilities, Truth, and Consequences

Allan, thanks for the article. More advisors like you are needed who can well explain the role of behavior in investing. If you couldn’t get your client to further lower unnecessary risk, probably no one could (except Kahneman himself?). Also, a question: You say your client clearly understood the l...
by Fallible
Wed Jul 03, 2019 5:26 pm
Forum: Personal Investments
Topic: Do I need a financial advisor to protect myself from myself?
Replies: 46
Views: 3914

Re: Do I need a financial advisor to protect myself from myself?

You already have some good answers here - VG advisor or Target Date - so I'm just stopping by to say I enjoyed your clever post, that I never saw the Monopoly guy with a monocle, and it's probably "people much smarter than I" ('am' being understood), and the "ultimate answer" always is to know thyse...
by Fallible
Sat Jun 29, 2019 6:28 pm
Forum: Investing - Theory, News & General
Topic: Simplicity (Three Fund) vs. Return (Slightly more complex):
Replies: 45
Views: 3138

Re: Simplicity (Three Fund) vs. Return (Slightly more complex):

<r><QUOTE author="JoMoney" post_id="4616878" time="1561830066" user_id="46324"><s>[quote=JoMoney post_id=4616878 time=1561830066 user_id=46324]</s> We really don't know what the future returns of the broad-market will be, but by holding it we know precisely that our return will be the same as the do...
by Fallible
Fri Jun 28, 2019 2:49 pm
Forum: Investing - Theory, News & General
Topic: "Alice's Adventures in Factorland"
Replies: 209
Views: 9952

Re: "Alice's Adventures in Factorland"

There is good debate on this thread, but IMO, too often it is turning personal. Thus, a reminder that good debate is about the merits of an issue, about challenging an opponent's facts and logic, and not an opponent personally (such as supposed ulterior motives and cognitive states). I hope this is ...
by Fallible
Thu Jun 27, 2019 8:26 pm
Forum: Investing - Theory, News & General
Topic: "Alice's Adventures in Factorland"
Replies: 209
Views: 9952

Re: "Alice's Adventures in Factorland"

So, after reading the "Alice's Adventures" Abstract (and Larry's Summary), it very much gets back to investors’ worst enemy: themselves. And that’s why a great concern about alternative investing is whether investors truly understand both risk and their abilities - in terms of valuable time, patienc...
by Fallible
Wed Jun 26, 2019 6:20 pm
Forum: Personal Consumer Issues
Topic: Am I falling into the trap of judging everything through cost lens?
Replies: 51
Views: 4638

Re: Am I falling into the trap of judging everything through cost lens?

I think I am letting the cost of things and experience the main deciding factor when considering buying something or some experience ... What other factors do you consider other than cost when you decide to spend your money on something or some experience (Not just flight ticket). You want to buy s...
by Fallible
Wed Jun 26, 2019 5:08 pm
Forum: Investing - Theory, News & General
Topic: Individual Stocks .. talk me out of it
Replies: 31
Views: 1985

Re: Individual Stocks .. talk me out of it

I see multiple sites offering subscriptions for a portfolio of stocks they pick. I have a 3 fund portfolio am I missing out on something? Do individual stocks give u a better return? They tout high rates of return Anyone? Thank u Tat How does your post above square with your post below?: https://ww...
by Fallible
Mon Jun 24, 2019 5:56 pm
Forum: Personal Consumer Issues
Topic: Thank you, Honda - repair story
Replies: 17
Views: 1978

Re: Thank you, Honda - repair story

My wife's 2016 Civic, now with 35,900 miles and purchased 3 years and 5 months ago, recently began not producing cold air when the air conditioner was turned on. We took it to the dealer where they diagnosed it as a bad A/C compressor, requiring a repair of $1,100+. The dealer worked with corporate...
by Fallible
Mon Jun 24, 2019 4:34 pm
Forum: Personal Investments
Topic: Why does AA matter as long as I stick to it?
Replies: 26
Views: 2587

Re: Why does AA matter as long as I stick to it?

... I am having difficulty understanding why one's basic AA in retirement matters (within reason, of course) as long as one sticks to it. ... Your emphasis here is on sticking to it when it should be on the allocation you're sticking to. An AA first has to be one that's right for you, reflecting yo...
by Fallible
Fri Jun 21, 2019 6:38 pm
Forum: Personal Investments
Topic: How did you overcome your fear of investing?
Replies: 33
Views: 2428

Re: How did you overcome your fear of investing?

It seems from your description that, while you " know " you are not your father, you still feel the emotional effects of his mistakes, as expressed in "uncharacteristic dread," "worried I'll lose money," "tightness in my chest," and "paralysis." You've already dealt with your fear quite well, learni...
by Fallible
Fri Jun 21, 2019 12:36 pm
Forum: Personal Investments
Topic: Asset Allocation - Risk
Replies: 15
Views: 1292

Re: Asset Allocation - Risk

Friends: My wife and I are both retired (both 43), two kids (7 and 10). We withdraw about 2% per year. 529’s fully funded. Most calculators suggest I should be in the 65-75 equity range. I’m far higher, but I question my decision. I rationalize that we are young enough to weather some market cycles...
by Fallible
Fri Jun 21, 2019 11:55 am
Forum: Investing - Theory, News & General
Topic: The End of Passive Investing?
Replies: 55
Views: 5070

Re: The End of Passive Investing?

:shock: Here's a quote from our dearest John Bogle: If everybody indexed, the only word you could use is chaos, catastrophe. The markets would fail. ... There have been many articles written since Bogle's comment, apparently originally made in 2017, including one by him last year: There no longer c...
by Fallible
Thu Jun 20, 2019 8:18 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3844
Views: 1105498

Re: What Book Are You Currently Reading? Part VI

"Landing On The Edge Of Eternity: 24 Hours At Omaha Beach", by Robert Kershaw (Pegasus Books NY 2018). ... 3) Plentiful personal descriptions of what the US soldiers suffered through during their attack. I was shaking my head in disbelief reading how a critical number of soaked fighters continued t...
by Fallible
Thu Jun 20, 2019 7:25 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 4599
Views: 1182728

Re: What Movie Have You Recently Watched?

Sandtrap wrote:
Sun Jun 16, 2019 11:55 am
Saw on Youtube> full length.
...Cary Grant and Ingrid Bergman in "Notorious" ...
One of my favorite lines from the movie, via Alex's mother after he tells her he's married to an American agent: "We are protected from the enormity of your stupidity, for a time."
by Fallible
Wed Jun 19, 2019 8:52 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3844
Views: 1105498

Re: What Book Are You Currently Reading? Part VI

Your Medical Mind by Jerome Groopman, M.D., and his wife, Pamela Hartzband, M.D., about how deciding what medicines to take and procedures to undergo is becoming harder than ever, partly because so much more information is available. They write: "How do you know what is right for you? The answer of...
by Fallible
Tue Jun 18, 2019 2:37 pm
Forum: Investing - Theory, News & General
Topic: Am I a Boglehead?
Replies: 31
Views: 2660

Re: Am I a Boglehead?

Can I call myself a Bogleheads? I’m a big fan of Vanguard and Jack Bogle, but I don’t follow his asset allocation recommendations. My portfolio is 100% Vanguard S&P 500 ETF (VOO). I never sell, just buy more every month. My wife and I plan to live off the dividend income, and pass the portfolio to ...
by Fallible
Mon Jun 17, 2019 4:57 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads vs Hedgefunds [or vs. venture capital]
Replies: 33
Views: 2478

Re: Bogleheads vs Hedgefunds [or vs. venture capital]

Well, I just think. While it's nice to save funds for retirement, I'm 26 and that's not exactly my goal. My goal is to earn money and with the money I have make it earn more money, and if I can create value with that money. I don't want to earn money by shorting stuff. I want to invest in things wh...
by Fallible
Mon Jun 17, 2019 12:18 pm
Forum: Forum Issues and Administration
Topic: Why not add a "like" button to Boglehead posts?
Replies: 185
Views: 31068

Re: A way to "thank" posts

The issue of a "like" button has been brought up in the past. There is a long discussion of this subject (and why the forum owners are not in favor of such a button) in this thread . If you would like to express appreciation for a particularly helpful post, a simple "Thanks for the great informatio...
by Fallible
Mon Jun 17, 2019 10:55 am
Forum: US Chapters
Topic: June 6, 1944 D Day and General Patton [D-Day plus 11 days, a war article by Ernie Pyle]
Replies: 42
Views: 3967

Re: D-Day plus 11 days, a war article written by Ernie Pyle

camden wrote:
Sun Jun 16, 2019 8:29 am
After reading that, I can see that Pyle deserved his fame. The power of observation and quiet understatement.
That describes his style well. As an especially sensitive observer of the horrors of war, he knew what details to bring out; as a talented writer, he knew how to bring them out.
by Fallible
Sun Jun 16, 2019 8:26 pm
Forum: Investing - Theory, News & General
Topic: How Bad was 2008, really?
Replies: 321
Views: 38317

Re: How Bad was 2008, really?

but for me the real fear would be the fear of stocks going down for like...decades. What is so scary about a 2 year blip? At the time - no one knew it was a "blip". ... No one knew if it would ever come back up or how long. ... And that's what was " so scary ": No one knew . This can't be fully und...
by Fallible
Sun Jun 16, 2019 5:06 pm
Forum: Personal Consumer Issues
Topic: 70th Birthday Party Ideas
Replies: 11
Views: 770

Re: 70th Birthday Party Ideas

I'm planning a 70th birthday party for my mom and her twin. They have not celebrated their birthday together in at least 50 years. I'm gathering old photos but what else would make it memorable? You are already doing quite a bit - their first celebration together in 50 years and old photos to go ov...
by Fallible
Sat Jun 15, 2019 12:50 pm
Forum: Investing - Theory, News & General
Topic: "John C. Bogle Quotes" by Rick Van Ness"
Replies: 7
Views: 774

Re: "John C. Bogle Quotes" by Rick Van Ness"

Thanks for posting, Taylor, and thanks to Rick for compiling the quotes and for his excellent books and website.
by Fallible
Wed Jun 12, 2019 7:10 am
Forum: Investing - Theory, News & General
Topic: What financial information do you wish was more commonly known?
Replies: 50
Views: 8637

Re: What financial information do you wish was more commonly known?

How to balance saving and spending. Throughout life, it's the balance that is important - and often hardest - to achieve. Save as early and often as you can to take advantage of the magic of compounding, but don't save to the point of denying yourself worthwhile pleasures that can bring lasting happ...
by Fallible
Sun Jun 09, 2019 8:44 pm
Forum: Investing - Theory, News & General
Topic: AA : willingness, ability, need
Replies: 24
Views: 1891

Re: AA : willingness, ability, need

I have been reading a bit lately and trying to come up with a suitable AA. Most recommend AA should be based on the ability, willingness and need to take risk. I understand ability and willingness clearly, but having a hard time understanding “need”. The "need" is essentially defined as how much re...
by Fallible
Sun Jun 09, 2019 10:08 am
Forum: Investing - Theory, News & General
Topic: Investor expectations are pro-cyclical
Replies: 3
Views: 455

Re: Investor expectations are pro-cyclical

Are investors chronically pessimistic? No—but that doesn't mean they adhere to rational expectations DWYER GUNN Chicago Booth Review (University of Chicago business school) APR 09, 2019 The assumption that investors hold rational expectations of market returns is central to many asset pricing model...
by Fallible
Sat Jun 08, 2019 9:42 pm
Forum: Investing - Theory, News & General
Topic: The impact of Baby Boomers on the Future of U.S. Stocks
Replies: 41
Views: 5388

Re: The impact of Baby Boomers on the Future of U.S. Stocks

... (1) If, during retirement, the baby boomers experience another 2000 or 2008, will they, on average, panic sell or stay the course? If the average baby boomer has under saved, and if they panic sell, will they, on average, ever materially participate in the market again? When faced with a meager...
by Fallible
Sat Jun 08, 2019 7:37 pm
Forum: Investing - Theory, News & General
Topic: The impact of Baby Boomers on the Future of U.S. Stocks
Replies: 41
Views: 5388

Re: The impact of Baby Boomers on the Future of U.S. Stocks

... (1) If, during retirement, the baby boomers experience another 2000 or 2008, will they, on average, panic sell or stay the course? If the average baby boomer has under saved, and if they panic sell, will they, on average, ever materially participate in the market again? When faced with a meager...
by Fallible
Sat Jun 08, 2019 7:53 am
Forum: Investing - Theory, News & General
Topic: Are market downturns & crashes really driven by fear?
Replies: 23
Views: 1818

Re: Are market downturns & crashes really driven by fear?

The powerful emotion of fear (and greed) plays out in many ways in the markets, as in life. It's sometimes difficult to know exactly how it does that, at what point, or how much. But since investors must always deal with risk and uncertainty (and their own tendencies to loss aversion), fear is proba...
by Fallible
Fri Jun 07, 2019 11:28 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3844
Views: 1105498

Re: What Book Are You Currently Reading? Part VI

"The Index Revolution" by Charles Ellis, introduction by B. Malkiel. Some good personal history of his transition from his DLJ days as a committed active investor and practitioner to an index fund promoter. Lots of good explanations of why index funds outperform, but not that much new for most BH's...
by Fallible
Fri Jun 07, 2019 5:05 pm
Forum: Investing - Theory, News & General
Topic: The Economist: "Picking managers on the basis of past performance is a mug’s game."
Replies: 7
Views: 1119

Re: The Economist: "Picking managers on the basis of past performance is a mug’s game."

As the article says: "The Woodford crisis illustrates a much broader trend. Investors have steadily been realising that the experts can struggle to outperform the market ." Some of the best writing on that struggle among experts comes from Charles Ellis in his classic book, Winning the Loser's Game ...
by Fallible
Fri Jun 07, 2019 2:24 pm
Forum: Personal Investments
Topic: very concerned about stock and bond movement
Replies: 26
Views: 2112

Re: very concerned about stock and bond movement

... my huge worry is I see bonds and stocks moving very fast up together, now thats currently making me a lot of money BUT....if they can go up together they can go down together! They might go down together or they might not. That they may be moving together now is no guarantee they'll continue to...
by Fallible
Fri Jun 07, 2019 1:45 pm
Forum: Investing - Theory, News & General
Topic: The logical fallacy behind "Bonds Are For Safety"
Replies: 248
Views: 16028

Re: The logical fallacy behind "Bonds Are For Safety"

The definitional fallacy behind "Bonds Are For Safety:" Safety is an emotive word, not a financial term of art. Let's stop using it on this forum. PJW Good point, good idea. Also, when recommending some bonds in a portfolio, top pros who obviously know the downsides of bonds, clearly mean relativel...
by Fallible
Thu Jun 06, 2019 12:39 pm
Forum: Investing - Theory, News & General
Topic: Convince me not to try to time the market
Replies: 27
Views: 2088

Re: Convince me not to try to time the market

Generally I agree with the Bogleheads philosophy and am tentatively planning to set-up a 3-fund portfolio with a ~70/30 stock/bond split. However, I'm hearing lots of warnings that the market is due for a major correction soon. ... I know it's unwise to try to time the market, but should I consider...