Search found 1074 matches

by fortyofforty
Sun Sep 23, 2018 9:05 pm
Forum: Investing - Theory, News & General
Topic: Learning How to Value Invest
Replies: 15
Views: 1384

Re: Learning How to Value Invest

I would also recommend reading literature from Tweedy Browne company. They are deep value investors, and their shareholder materials are very educational.
by fortyofforty
Sun Sep 23, 2018 7:08 am
Forum: Investing - Help with Personal Investments
Topic: New to Investing, I feel lost
Replies: 43
Views: 1755

Re: New to Investing, I feel lost

Don't forget that, as young as you are, you have never experienced a bear market. You will open your statements and see the value of your portfolio shrink, over and over. You'll ask yourself what are you doing with your money. You'll realize you'd have made better returns in a CD or bank account. It...
by fortyofforty
Sun Sep 23, 2018 6:51 am
Forum: Investing - Theory, News & General
Topic: A bump on the road from active to passive
Replies: 29
Views: 2582

Re: A bump on the road from active to passive

What I found those was surprising, with STAR having the better average annual returns than the LS and TD funds over 1-year (10.11% v. 7.69% and 8.15%), 3-year (10.00% v. 8.56% and 9.01%), 5-year (9.08% v. 7.87% and 8.34%), and 10-year (7.94% v. 6.56% and 7.08%). You also might be surprised to know ...
by fortyofforty
Sat Sep 22, 2018 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: New to Investing, I feel lost
Replies: 43
Views: 1755

Re: New to Investing, I feel lost

I agree with those who suggested maxing out your 403(b). If you have access to a Roth 403(b), I'd choose that over traditional 403(b). Here's a decent summary of their attributes, by The Motley Fool . After that, you will be dollar-cost averaging into investments, which is not bad. You can invest in...
by fortyofforty
Fri Sep 21, 2018 5:57 pm
Forum: Investing - Theory, News & General
Topic: New [Vanguard] environmental, social, governance (ESG) ETFs
Replies: 25
Views: 1702

Re: New [Vanguard] environmental, social, governance (ESG) ETFs

I recognize you probably did not mean to turn this into a political thread, but you just did anyway. I will not be investing in these so-called "ESG" funds as they tend to target mostly ridiculous social justice warrior causes that play both ends (bilking the consumer and taxpayer, one and the same...
by fortyofforty
Thu Sep 20, 2018 7:22 pm
Forum: Investing - Theory, News & General
Topic: New [Vanguard] environmental, social, governance (ESG) ETFs
Replies: 25
Views: 1702

Re: Sept 20--Vanguard Expands ESG Fund Offerings With Low-Cost ESG ETFs

How was it decided what is and isn’t responsible? Which gets me to my second question. Nuclear power is not responsible????? It’s the most effective, reliable way for us to fight changes in climate that may be caused by humans. Count me out on these offerings. This is why I avoid such nonsense. I w...
by fortyofforty
Sun Sep 16, 2018 9:16 pm
Forum: Investing - Theory, News & General
Topic: Alternative investments - Art, memorabilia, artifacts, antiques
Replies: 17
Views: 1147

Re: Alternative investments - Art, memorabilia, artifacts, antiques

Something is only worth what someone else will pay you for it. With stocks, the market is constantly being adjusted. With one of a kind pieces of art, or other collectibles, you just don't know. I've come to the conclusion that you'd better like the stuff you buy as "investments" since you might get...
by fortyofforty
Sun Sep 16, 2018 6:21 pm
Forum: Investing - Theory, News & General
Topic: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE
Replies: 66
Views: 14620

Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Jack,

Would you consider this to be the "Golden Age" of investing for small investors? What major changes to the industry would you like to see? What major changes or trends do you foresee coming in the next decade or two?
by fortyofforty
Sat Sep 15, 2018 4:20 pm
Forum: Investing - Theory, News & General
Topic: Why Bull Markets Are Dangerous
Replies: 152
Views: 16827

Re: Why Bull Markets Are Dangerous

Wow, seniors wanting to push “all in”.... if my Starbucks barista starts giving me hot stock tips I’m selling everything. My 92 year old mother in law is pretty comfortable being all in. I did talk her into buying 10K worth of a Vanguard Bond Fund ETF. I work with a lot of people who are very comfo...
by fortyofforty
Sat Sep 15, 2018 6:54 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

We should drop all the insults, no matter how softly phrased, since they are insults, nonetheless. Here is a simple example. Imagine an index that tracks exactly one share each of exactly ten companies. It's the One-Ten Index. We have Company A that charges .0501% fees, and Company B that charges ....
by fortyofforty
Fri Sep 14, 2018 7:24 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

We should drop all the insults, no matter how softly phrased, since they are insults, nonetheless. Here is a simple example. Imagine an index that tracks exactly one share each of exactly ten companies. It's the One-Ten Index. We have Company A that charges .0501% fees, and Company B that charges ....
by fortyofforty
Fri Sep 14, 2018 3:12 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

We should drop all the insults, no matter how softly phrased, since they are insults, nonetheless. Here is a simple example. Imagine an index that tracks exactly one share each of exactly ten companies. It's the One-Ten Index. We have Company A that charges .0501% fees, and Company B that charges .0...
by fortyofforty
Fri Sep 14, 2018 2:19 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

I think the IRS originally got it right when they said two different mutual funds can not be substantially identical. They should have left that guidance in the documents and left it at that. To broadly say to mutual funds that track the same index are substantially identical is false and we know t...
by fortyofforty
Fri Sep 14, 2018 12:27 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

I think the IRS originally got it right when they said two different mutual funds can not be substantially identical. They should have left that guidance in the documents and left it at that. To broadly say to mutual funds that track the same index are substantially identical is false and we know t...
by fortyofforty
Fri Sep 14, 2018 7:35 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

Earl Lemongrab wrote:
Thu Sep 13, 2018 11:21 pm
I won't bother arguing with you. You don't have the basic knowledge.
Keep arguing indirectly, then. It's as different as two funds that follow the S&P 500 index. :beer I'm done trying to educate you, as it appears hopeless. People can read your "advice" and make up their own minds.
by fortyofforty
Fri Sep 14, 2018 7:32 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

Earl, I am not sure most would make the argument quite the way fortyofforty has here, but my impression is that it is a majority view among BHs that two funds tracking the exact same index (not just same asset class) should be considered substantially identical for TLH purposes, notwithstanding min...
by fortyofforty
Thu Sep 13, 2018 8:55 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

Your dispute is ill-founded. When you buy a fund that has, as its mandate, to follow a particular index, you are choosing to own that basket of stocks, indirectly. An actively managed fund is quite different. However, an index fund is mandated to follow a certain index or, if it's something like a t...
by fortyofforty
Thu Sep 13, 2018 7:27 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

It's only frivolous because you don't want to admit that owning an S&P 500 Index Fund from one adviser could be considered "substantially identical" to holding an S&P 500 Index Fund from another adviser. I wouldn't swap Investor for Admiral shares, or jump from Fidelity to Vanguard S&P 500 Index Fu...
by fortyofforty
Thu Sep 13, 2018 5:32 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

Just curious if you'd consider owning ten shares each of Amazon, Microsoft, and Exxon in Fidelity "substantially identical" to owning ten shares each of Amazon, Microsoft, and Exxon in Schwab. This is a frivolous question. The law and the IRS pubs already explicitly cover the situation. It's only f...
by fortyofforty
Thu Sep 13, 2018 6:31 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

I believe that mutual fund share classes that can convert to a different class without tax liability are substantially identical for the reasons given above. I think that includes Vanguard ETF to other share classes even though Vanguard doesn't allow direct conversion. I think that's just a decisio...
by fortyofforty
Mon Sep 10, 2018 2:05 pm
Forum: Investing - Theory, News & General
Topic: Why Bull Markets Are Dangerous
Replies: 152
Views: 16827

Re: Why Bull Markets Are Dangerous

The fact that everyone "in the know" is expecting a crash, or significant bear market, is a counter-indicator pointing to continued good equity performance. You don't know until you know, and then it's too late. Even the guy on the corner with the sandwich board sign saying "THE END IS NIGH" will ev...
by fortyofforty
Sun Sep 09, 2018 9:09 pm
Forum: Investing - Theory, News & General
Topic: Why Bull Markets Are Dangerous
Replies: 152
Views: 16827

Re: Why Bull Markets Are Dangerous

The problem is my barista gave me stock tips in January. My Uber driver told me about his portfolio in March. My dog-walker explained options and futures trading to me in May. My newspaper delivery driver told me about emerging market debt in July. When do I sell? When is the "top" and when is it to...
by fortyofforty
Sun Sep 09, 2018 7:13 pm
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

It would, it seems, fall on each individual investor to decide for herself if two investments are "substantially identical". For me, if the two investments track an identical index, no matter the ticker symbols, I consider them to be "substantially identical". Unless and until the IRS hits one of us...
by fortyofforty
Sun Sep 09, 2018 7:07 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

“For 240 years it’s been a terrible mistake to bet against America, and now is no time to start. America’s golden goose of commerce and innovation will continue to lay more and larger eggs. America’s social security promises will be honored and perhaps made more generous. And, yes, America’s kids w...
by fortyofforty
Sun Sep 09, 2018 5:57 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

this thread has reminded me to buy international this week buy low sell high is nice Could you do just as well by shorting the USD ? “For 240 years it’s been a terrible mistake to bet against America, and now is no time to start. America’s golden goose of commerce and innovation will continue to la...
by fortyofforty
Sun Sep 09, 2018 7:49 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3166

Re: Tax loss harvesting - wash sale rule

This should be no problem, but Bogleheads are not subject to being witnesses at your IRS hearing. As was mentioned, do not forget to stop automatic reinvestment of dividends and capital gains. You might just move everything into the Federal Money Market settlement fund. You would not be out of TBM f...
by fortyofforty
Sat Sep 08, 2018 4:59 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

Unfortunately, there are some posters here who make claims but don't have any justification for making them. A stop-loss order can and does allow a person to exit a position when the price drops to or below a certain amount. Stops the loss. Done. Maybe the price jumps back up. Maybe the price drops...
by fortyofforty
Sat Sep 08, 2018 1:28 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

... ETA: Had you still had the stomach for investing in ETFs, you could have moved into VTI later in the month, or several times later in the year, at a significant value, taking advantage of your losses while getting back into the market. Of course, as with your regret over your specific stop-loss...
by fortyofforty
Sat Sep 08, 2018 1:26 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

Unfortunately, there are some posters here who make claims but don't have any justification for making them. A stop-loss order can and does allow a person to exit a position when the price drops to or below a certain amount. Stops the loss. Done. Maybe the price jumps back up. Maybe the price drops...
by fortyofforty
Sat Sep 08, 2018 10:42 am
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

You buy at $10 per share. The price climbs to $90 per share. You place a stop-loss at $75. Flash crash, the price drops to $60 and worst case you miss the $75 and your order fills at $60. You just made $50 per share. Even if the price bumps back up to $90, all you have "lost" is opportunity. If it ...
by fortyofforty
Fri Sep 07, 2018 6:55 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

Unfortunately, there are some posters here who make claims but don't have any justification for making them. A stop-loss order can and does allow a person to exit a position when the price drops to or below a certain amount. Stops the loss. Done. Maybe the price jumps back up. Maybe the price drops ...
by fortyofforty
Fri Sep 07, 2018 8:51 am
Forum: Investing - Theory, News & General
Topic: Good time to do value investing?
Replies: 37
Views: 2492

Re: Good time to do value investing?

I do believe "value" and "growth" do not perform equally well all the time. Value has certainly been lagging lately. Does that foretell future outperformance? Only time will tell.
by fortyofforty
Thu Sep 06, 2018 8:49 pm
Forum: Investing - Theory, News & General
Topic: September 6,2018-Vanguard Introduces Low-Cost Total World Bond ETF
Replies: 48
Views: 5394

Re: Vanguard Total World Bond ETF

There are not a lot of fans of international bonds on this forum. I don't know enough not to be a fan. If I needed to add a bond fund and believed in the power of diversification I might be interested. If I were concerned about the tax situation with foreign debt or view bond holdings as a relativel...
by fortyofforty
Tue Sep 04, 2018 5:47 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

Gort wrote:
Tue Sep 04, 2018 5:23 pm
959 posts.
Anxiously waiting for the Executive Summary.
Nobody knows nothin'.
by fortyofforty
Mon Sep 03, 2018 7:46 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

... Nope. As long as we agree on the definition of a loss. If the price of any security goes up after you sell for any reason, you could consider it a "loss" since you could have held it a bit longer and gotten more for it. And I would still disagree. The purpose is to prevent you from losing even ...
by fortyofforty
Mon Sep 03, 2018 7:20 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

In what sense are you "guarantee[ing]" a loss? Wouldn't that depend on your purchase price? As you and I have discussed, the loss is from a recent higher asset value. The structure of a sell stop-limit order is that, if it ever executes at all, it will do so at a price lower than what the security'...
by fortyofforty
Mon Sep 03, 2018 7:10 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

In what sense are you "guarantee[ing]" a loss? Wouldn't that depend on your purchase price?
by fortyofforty
Mon Sep 03, 2018 11:23 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

Lastly, past performance is no indicator of future. Maybe the US will reign forever. There is a chance it will not and no one knows for certain. The other countries whose markets collapsed weren't some dinky 3rd world countries. They were major players on the world stage. If past performance is not...
by fortyofforty
Mon Sep 03, 2018 6:33 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

The :confused should be directed at willthrill81. I'm just wondering in what sense are US valuations "indefensible", and what that means going forward, in practical terms. That's why it's directed at you. Where to begin? Present PE's; forward PE's; CAPE; misapplied Gordon equation; US exceptionalis...
by fortyofforty
Sun Sep 02, 2018 9:47 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing Frequency? Daily vs annually?
Replies: 34
Views: 2314

Re: Rebalancing Frequency? Daily vs annually?

Would rebalancing also impact our notion of "risk tolerance"? If you rebalance daily, back to say 80/20, your daily movements might be muted but you will constantly lock in the day's gain or loss. You might end up simply rebalancing all the way to a market bottom, then muting your returns as it clim...
by fortyofforty
Sun Sep 02, 2018 7:10 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

What you say is not in issue. What is at issue is US valuations, which are indefensible. :confused The :confused should be directed at willthrill81. I'm just wondering in what sense are US valuations "indefensible", and what that means going forward, in practical terms. That's why it's directed at ...
by fortyofforty
Sun Sep 02, 2018 6:04 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

What you say is not in issue. What is at issue is US valuations, which are indefensible. :confused The :confused should be directed at willthrill81. I'm just wondering in what sense are US valuations "indefensible", and what that means going forward, in practical terms. That's why it's directed at ...
by fortyofforty
Sun Sep 02, 2018 5:00 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

gmaynardkrebs wrote:
Sun Sep 02, 2018 4:09 pm
What you say is not in issue. What is at issue is US valuations, which are indefensible.
:confused
by fortyofforty
Sun Sep 02, 2018 4:59 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

One possible use I could see is if someone is attempting to "value average". Then, if the desired gain is reached before their time period expires, they could set a stop to guarantee that, at least, they'd get to the value they were seeking. If the stop is never reached, the additional gains are sim...
by fortyofforty
Sun Sep 02, 2018 4:19 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing Frequency? Daily vs annually?
Replies: 34
Views: 2314

Re: Rebalancing Frequency? Daily vs annually?

I've thought the daily rebalancing provided by the LifeStrategy or Balanced Index funds only serves to reduce the daily volatility of price movements. Really, it will slowly and painfully rebalance all the way down into a market bottom, and reduce potential gains little by little all the way up. You...
by fortyofforty
Sun Sep 02, 2018 3:43 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2373

Re: Placing a stop-loss order with vanguard

I am surprised that Vanguard doesn't offer trailing stops. But, I agree with the advice to buy broad market index funds and hold them forever.
by fortyofforty
Sun Sep 02, 2018 3:39 pm
Forum: Investing - Theory, News & General
Topic: Call the Top!
Replies: 82
Views: 9323

Re: Call the Top!

Nobody knows nothin'. I'll just keep dollar-cost-averaging and maintain my asset allocations. It's hard to predict anything, especially about the future.
by fortyofforty
Sat Sep 01, 2018 7:24 pm
Forum: Investing - Theory, News & General
Topic: Decided to try timing the market. 100% short on 9/17/15
Replies: 361
Views: 62636

Re: Decided to try timing the market. 100% short on 9/17/15

For those who may have forgotten the OP: I know, I know, heresy coming from an avid fan of Bogle, indexing, low fees, and detractor of all overpaid middlemen! However, I have done a my due diligence, read the white papers, and my own backtesting is compelling enough to not ignore. To that end, I hav...
by fortyofforty
Sat Sep 01, 2018 10:21 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

For those that argue for 0% ex-U.S., would your opinion change if you knew that international would outperform the United States by 5% per annum for the next decade?
by fortyofforty
Sat Sep 01, 2018 6:16 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 82341

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

I see an argument against investing outside the United States as sub-par past performance. It's painful. It might end up reducing your overall returns. But I still can't avoid the idea that past performance is no guarantee of future results, or that the time to invest in an asset sub-class is when i...