Search found 35470 matches

by nisiprius
Sat Aug 18, 2018 3:29 pm
Forum: Personal Consumer Issues
Topic: Fitness band with excellent Android syncing?
Replies: 15
Views: 299

Re: Fitness band with excellent Android syncing?

Doesn't address the specific question of reliability of Android syncing. you clearly didnt read the article. there is a specific mention for Android users. :oops: I thought you were pointing to the top-rated device. You mean "Samsung Gear Fit2 Pro...It’s a particularly good pick for Android users?"
by nisiprius
Sat Aug 18, 2018 3:24 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3167
Views: 966840

Re: What Book Are You Currently Reading? Part VI

Jennet Conant was being interviewed on NPR and I suddenly realized that I'd just loved two of her books: The Irregulars, which is about the British spies who spied on the United States during World War II--it included the writers Ian Fleming and Roald Dahl; and Tuxedo Park , an incredible story I'd ...
by nisiprius
Sat Aug 18, 2018 1:02 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]
Replies: 25
Views: 891

Re: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]

...The AQR fund you mention is large cap; VMOM is more like mid cap; research shows that the momentum effect is more pronounced in smaller stocks... The BRWIX fund I mentioned first , the one with a 33-year track record, first of the charts, is a mid-cap fund. It failed to outperform either the S&P...
by nisiprius
Sat Aug 18, 2018 12:58 pm
Forum: Personal Consumer Issues
Topic: The Fall of Consumer Reports
Replies: 18
Views: 3190

Re: The Fall of Consumer Reports

...I continue to enjoy things they do on medical issues. I still subscribe online and look at the print issue now and then in Costco while having a hot dog or at the bookstore or library. Largely nostalgia I suppose. For about five years I kept saying to myself "the product reviews aren't very usef...
by nisiprius
Sat Aug 18, 2018 12:37 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]
Replies: 25
Views: 891

Re: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]

...as for the question of implementing the strategy successfully in a fund, VMOM has beaten the market since inception - though admittedly it hasn't been round for long... Because of the phenomenon of "momentum crashes" which occur in bad market downturns, one would certainly not want to draw concl...
by nisiprius
Sat Aug 18, 2018 11:46 am
Forum: Investing - Theory, News & General
Topic: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]
Replies: 25
Views: 891

Re: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]

...I understand that momentum strategies have a good chance of doing better than the market in the long run... I'd like you to see if you can show us the specific reference that says this. I think you've let something get oversimplified through retelling. There are lots of articles and academic pap...
by nisiprius
Sat Aug 18, 2018 11:27 am
Forum: Investing - Theory, News & General
Topic: Remind me (again) how real estate isn't a GREAT investment?
Replies: 49
Views: 3250

Re: Remind me (again) how real estate isn't a GREAT investment?

Tell me the name of a mutual fund or ETF that directly invests in one- and two-family homes, is geographically diversified across the United States, qualifies as a "diversified" fund under the Investment Company Act of 1940, and affords me the benefits and protections of the 1940 act, including dail...
by nisiprius
Sat Aug 18, 2018 10:00 am
Forum: Personal Consumer Issues
Topic: Fitness band with excellent Android syncing?
Replies: 15
Views: 299

Re: Fitness band with excellent Android syncing?

The first, second, and third most important requirements are that it sync with Android. Reliably, easily, quickly, no problems, no fussing, every time, all the time. And with no pickiness about the precise phone brand or Android version (but FYI my phone is a Samsung running 6.0.1). Other desiderat...
by nisiprius
Sat Aug 18, 2018 9:33 am
Forum: Personal Consumer Issues
Topic: Fitness band with excellent Android syncing?
Replies: 15
Views: 299

Re: Fitness band with excellent Android syncing?

off topic but hopefully you are still getting some security updates for Android Marshmallow. Actually, I'm not. I've been wondering about that. I know I have automatic updates on, because I get application updates pushed from the Google store several times a week--but nothing for Android itself. Se...
by nisiprius
Sat Aug 18, 2018 9:26 am
Forum: Personal Consumer Issues
Topic: Fitness band with excellent Android syncing?
Replies: 15
Views: 299

Re: Fitness band with excellent Android syncing?

Doesn't address the specific question of reliability of Android syncing.
by nisiprius
Sat Aug 18, 2018 9:21 am
Forum: Personal Consumer Issues
Topic: Fitness band with excellent Android syncing?
Replies: 15
Views: 299

Fitness band with excellent Android syncing?

The first, second, and third most important requirements are that it sync with Android. Reliably, easily, quickly, no problems, no fussing, every time, all the time. And with no pickiness about the precise phone brand or Android version (but FYI my phone is a Samsung running 6.0.1). Other desiderata...
by nisiprius
Sat Aug 18, 2018 6:41 am
Forum: Investing - Theory, News & General
Topic: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]
Replies: 25
Views: 891

Re: Vanguard Momentum ETF (VMOM). Any thoughts on it? [UK investor]

...I understand that momentum strategies have a good chance of doing better than the market in the long run... I'd like you to see if you can show us the specific reference that says this. I think you've let something get oversimplified through retelling. In any case, the correct phrasing is probab...
by nisiprius
Fri Aug 17, 2018 8:09 pm
Forum: Personal Consumer Issues
Topic: The Fall of Consumer Reports
Replies: 18
Views: 3190

Re: The Fall of Consumer Reports

It's sad, but it is what it is. I hung onto my subscription for about three years past the time when it held any real value or interest, somehow hoping against hope that if I kept throwing dollars at it, it would somehow turn back into what it had been. It is a bad joke and an insult to suggest that...
by nisiprius
Fri Aug 17, 2018 7:31 pm
Forum: Investing - Help with Personal Investments
Topic: Small cap tilt - value vs. growth
Replies: 25
Views: 1534

Re: Small cap tilt - value vs. growth

I used to tilt small value, but last year I switched to small blend. IJR instead of IJS. The value factor premium is notorious for disappearing for a decade at a time. Small blend (based on S&P 600) is the more BH move, you're taking advantage of the quality screen and not counting on value to go y...
by nisiprius
Fri Aug 17, 2018 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: Small cap tilt - value vs. growth
Replies: 25
Views: 1534

Re: Small cap tilt - value vs. growth

...Over the long term small value has beaten growth. Uh, or it used to. :confused Jared Kizer wrote the following. Note point #7 in particular. 6. Any transparent strategy, which applies to everything outlined in this piece, is capable of extended periods of underperformance. There is nothing that ...
by nisiprius
Fri Aug 17, 2018 3:05 pm
Forum: Investing - Theory, News & General
Topic: Matter/Scatter part 8: Small-caps
Replies: 3
Views: 514

Re: Matter/Scatter part 8: Small-caps

Nisi, the fourth and fifth charts appear identical. Were the returns of NAESX and DFSCX that similar, or did something happen with the chart? Yikes. Thanks. Corrected. The final chart with micro-caps (BRSIX) does seem to show a noticeable contrast to the baseline 60/40. In your opinion, is that due...
by nisiprius
Fri Aug 17, 2018 10:46 am
Forum: Investing - Theory, News & General
Topic: Bullish/bearish on GE? Make your case here - new lows today
Replies: 53
Views: 3612

Re: Bullish/bearish on GE? Make your case here - new lows today

Of course, if we're going to try to play the single-stock evaluation game, you have to ask, of all the various companies that have been beaten down and look like they're in desperate shape, why is GE the one you would choose to invest in? Among other things, isn't it one of the companies in which it...
by nisiprius
Fri Aug 17, 2018 10:42 am
Forum: Investing - Theory, News & General
Topic: Here's what has happened to value since FF 3-factor
Replies: 6
Views: 751

Re: Here's what has happened to value since FF 3-factor

The chart is looking at the value premium using book-to-market. That said, this period also includes the rise of big-tech companies in which using book-to-market as a value screen overvalues these companies which have performed well. Most "value" mutual funds and ETFs use a combination of different...
by nisiprius
Fri Aug 17, 2018 9:27 am
Forum: Investing - Help with Personal Investments
Topic: Small cap tilt - value vs. growth
Replies: 25
Views: 1534

Re: Small cap tilt - value vs. growth

This is a fascinating question, because the original Fama-French study--and virtually all people recommending factor tilts--say that small-cap value is far preferable. It's just about unanimous. In fact, there's surprisingly little evidence for any strong benefit from small-caps alone (i.e. small-ca...
by nisiprius
Fri Aug 17, 2018 8:40 am
Forum: Investing - Help with Personal Investments
Topic: What are the cons of multi-family housing investments?
Replies: 4
Views: 522

Re: What are the cons of multi-family housing investments?

Is it an "investment" or is it "operating a small business?"
by nisiprius
Thu Aug 16, 2018 8:40 pm
Forum: Investing - Theory, News & General
Topic: Bullish/bearish on GE? Make your case here - new lows today
Replies: 53
Views: 3612

Re: Bullish/bearish on GE? Make your case here - new lows today

Has there ever been a case of a company being dropped from the Dow and being reinstated later?
by nisiprius
Thu Aug 16, 2018 5:37 pm
Forum: Investing - Help with Personal Investments
Topic: Enough. How do I invest in Australia.
Replies: 22
Views: 1460

Re: Enough. How do I invest in Australia.

...I'm not interested in claims that past performance doesn't guarantee future results... That's not a "claim," that's a fact. Evidence is evidence, and I'm ready to use it. Evidence is evidence, and I'm ready to use the evidence that past performance doesn't guarantee future results. Does anyone k...
by nisiprius
Thu Aug 16, 2018 5:21 pm
Forum: Investing - Help with Personal Investments
Topic: Why the Yale Endowment Hate?
Replies: 62
Views: 4554

Re: Why the Yale Endowment Hate?

It is frequently said that university endowments have a very long time frame, longer than that of a human lifetime. There is a wonderful (but, alas, apocryphal) story, told by Gregory Bateson, about Oxford having a stand of trees that was kept untouched for 400 years so that they would be ready when...
by nisiprius
Thu Aug 16, 2018 12:45 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 520
Views: 29272

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

everyone is taking currency risk by definition. to be invested, you must be invested in some currency, to the exclusion of others. That is not the definition of currency risk, so if you are going to use a phrase like "currency risk by definition" I think it's reasonable to nit-pick about it. One de...
by nisiprius
Thu Aug 16, 2018 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: Why the Yale Endowment Hate?
Replies: 62
Views: 4554

Re: Why the Yale Endowment Hate?

Being from The Other Institute of Technology I can feel even more superior. I'm assuming that's indeed CalTech. I remember that in a bizarre moment of sanity, one year, U.S. News and World Report briefly rated schools on merit, and CalTech ranked #1, beating out all the Ivies. Previously, the ranki...
by nisiprius
Thu Aug 16, 2018 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: Why the Yale Endowment Hate?
Replies: 62
Views: 4554

Re: Why the Yale Endowment Hate?

(Cardinal and Gray here). (Even if my avatar looks like Old Nassau). Do not confuse the Yale Endowment with the Yale Endowment portfolio that you mention in the OP. Not the same thing. To spell it out: As of fiscal year 2017, the Yale Endowment portfolio was reported to be (p. 7) Absolute Return 25....
by nisiprius
Thu Aug 16, 2018 12:04 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 520
Views: 29272

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

One must ask how the rest of the world's stocks would perform if the U.S. did a repeat of Japan. That's a matter of conjecture, but I doubt that most believe that a 20% allocation to international stocks would 'save the day'. 20% probably wouldn't save the day, but it'd almost certainly be better t...
by nisiprius
Thu Aug 16, 2018 10:27 am
Forum: Investing - Help with Personal Investments
Topic: Why the Yale Endowment Hate?
Replies: 62
Views: 4554

Re: Why the Yale Endowment Hate?

There isn't any "hate" for the Yale endowment portfolio as such. Back when Unconventional Success came out, there were many kind words for Swensen in this forum. (I've never read it; I probably should). The Boglehead position reflects "the majesty of simplicity:" There are an infinite number of stra...
by nisiprius
Thu Aug 16, 2018 10:14 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 520
Views: 29272

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

No matter how efficient the market is, it cannot change the fact that a European investor buying European stocks with euros experiences less risk than a US investor buying those identical European stocks with dollars, and that a US investor buying US stocks in dollars experiences less risk and the E...
by nisiprius
Thu Aug 16, 2018 10:10 am
Forum: Investing - Theory, News & General
Topic: OK, maybe Vanguard's website IS a little old... "56K dial-up..."
Replies: 19
Views: 2150

Re: OK, maybe Vanguard's website IS a little old... "56K dial-up..."

Oh, I personally remember 300 bps modems. Indeed, if they had acoustic couplers, you could, with a little bit of practice, whistle at them and convince them you were another modem; they would connect, and if you then warbled the whistle they would interpret it as a stream of gibberish characters. I ...
by nisiprius
Wed Aug 15, 2018 5:47 pm
Forum: Investing - Theory, News & General
Topic: Bullish/bearish on GE? Make your case here - new lows today
Replies: 53
Views: 3612

Re: Bullish/bearish on GE? Make your case here - new lows today

the house is always wrong at the top and at the bottom. Yup - but the only problem you have is you have no idea if this is the bottom. that is a good thought. at this time, probability says otherwise. risk vs return is very low buying at historical lows relative to high volatility. How do you measu...
by nisiprius
Wed Aug 15, 2018 4:26 pm
Forum: Investing - Theory, News & General
Topic: Take your canes out in Emerging Markets
Replies: 23
Views: 2706

Re: Take your canes out in Emerging Markets

I shall ignore the 110-year-old anecdote about alleged successes of unidentified "old veterans of Wall street" unless you can convince me that those venerable gents in were investing in emerging markets index funds in 1908. Well, apparently Henry Clews was a British citizen who was investing in the...
by nisiprius
Wed Aug 15, 2018 4:12 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 520
Views: 29272

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

"Disaster" is a strong word. I've been invested in international stocks since roughly the year 2000 or so at roughly 20-25% of my total stock allocation, so I have some skin in the game. My position, fairly consistent I think, is that there is no evidence that international stocks have ever made muc...
by nisiprius
Wed Aug 15, 2018 3:09 pm
Forum: Investing - Theory, News & General
Topic: OK, maybe Vanguard's website IS a little old... "56K dial-up..."
Replies: 19
Views: 2150

OK, maybe Vanguard's website IS a little old... "56K dial-up..."

...I was amused to see this message appear on my screen (in Vanguard Portfolio Watch): https://imgur.com/LOKCOn8.png I would guess that that particular message hasn't been reviewed or updated in a while. I don't want to be too much of a digital snob and assume that the whole world upgraded to DSL in...
by nisiprius
Wed Aug 15, 2018 1:20 pm
Forum: Investing - Theory, News & General
Topic: Bullish/bearish on GE? Make your case here - new lows today
Replies: 53
Views: 3612

Re: Bullish/bearish on GE? Make your case here - new lows today

I expressed an opinion of sorts in GE and the myth of "safe blue-chip stocks." In the year 2018, I don't think there's any more reason for anyone following the Bogleheads investment philosophy to invest in individual stocks--even the stocks of gigantic "diversified" companies--than there is in alloc...
by nisiprius
Wed Aug 15, 2018 10:21 am
Forum: Investing - Theory, News & General
Topic: The Case for Multifactor Funds
Replies: 17
Views: 1111

Re: The Case for Multifactor Funds

vineviz, you probably meant to link to The Case for Multifactor Funds.

The link you provided is to an article that could have been entitled "the case for Goldman Sachs ActiveBeta International Equity ETF (GSIE)."
by nisiprius
Wed Aug 15, 2018 8:59 am
Forum: Investing - Theory, News & General
Topic: Take your canes out in Emerging Markets
Replies: 23
Views: 2706

Re: Take your canes out in Emerging Markets

I shall ignore the 110-year-old anecdote about alleged successes of unidentified "old veterans of Wall street" unless you can convince me that those venerable gents were investing in emerging markets index funds in 1908.
by nisiprius
Wed Aug 15, 2018 6:28 am
Forum: Investing - Theory, News & General
Topic: Is short-term dollar-cost averaging (e.g. across 1 week) beneficial?
Replies: 21
Views: 1115

Re: Is short-term dollar-cost averaging (e.g. across 1 week) beneficial?

I personally believe you are correct and I have literally done it myself, using Vanguard's automated transfers to make a purchase in the form of four purchases of 1/4th of the total amount spaced a week apart. My semi-rational analysis of the benefit is that if you assume the price fluctuations are ...
by nisiprius
Wed Aug 15, 2018 6:17 am
Forum: Investing - Theory, News & General
Topic: How can I use the Rising Equity Glide Path?
Replies: 61
Views: 3599

Re: How can I use the Rising Equity Glide Path?

The problem with any flexible or variable withdrawal system is how to calculate a "figure of merit" for it. Of course you can withdraw more much of the time if you're willing to cut back during tough times. But how do you decide which is better or worse between one system that backtests with a 20% c...
by nisiprius
Wed Aug 15, 2018 5:31 am
Forum: Personal Consumer Issues
Topic: Adult piggy bank
Replies: 54
Views: 4147

Re: Adult piggy bank

Since we eventually take it to the bank (they have a self-service coin counting machine for customers), in theory, for us, it should be something compact, unbreakable, and not too silly looking so that we could take it to the bank directly instead of transferring it. In reality we use a Mason jar an...
by nisiprius
Tue Aug 14, 2018 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: Holding only VWENX for retirement
Replies: 12
Views: 1036

Re: Holding only VWENX for retirement

Wellington is 100% US. <--- I was wrong, see KlangFool below. Wellington is currently, according to Morningstar , 51.17% US stock and 13.45% international stock, meaning that 21% of its stock holdings are international. That is interesting. I always assumed (incorrectly) that Wellington invested in...
by nisiprius
Tue Aug 14, 2018 8:11 pm
Forum: Investing - Theory, News & General
Topic: The Bigger Story: Fidelity Expense Ratios
Replies: 91
Views: 8315

Re: The Bigger Story: Fidelity Expense Ratios

I saw a TV ad for Fidelity's ZERO® funds, I believe it was while my wife was watching the evening news. So Fidelity is not only doing this, they are actively promoting and marketing it.
by nisiprius
Tue Aug 14, 2018 7:56 pm
Forum: Investing - Help with Personal Investments
Topic: Why bonds when they return nothing over inflation?
Replies: 31
Views: 4729

Re: Why bonds when they return nothing over inflation?

I think one should consciously avoid stating things about investments in the present tense as if they were fixed characteristics. I think you should considered editing your subject line--you can do this yourself, just "edit" the initial post and change the subject line--to say either 1) "Why bonds, ...
by nisiprius
Tue Aug 14, 2018 7:44 pm
Forum: Investing - Help with Personal Investments
Topic: Holding only VWENX for retirement
Replies: 12
Views: 1036

Re: Holding only VWENX for retirement

KlangFool wrote:
Tue Aug 14, 2018 7:33 pm
nisiprius wrote:...Wellington is 100% US....
nisiprius,

<<Wellington is 100% US. >>

The foreign holding is about 12.5%.

https://investor.vanguard.com/mutual-fu ... olio/vwenx

KlangFool
Ouch. Shame on me. Thank you for pointing that out. I've corrected my posting, above.
by nisiprius
Tue Aug 14, 2018 7:03 pm
Forum: Investing - Help with Personal Investments
Topic: Holding only VWENX for retirement
Replies: 12
Views: 1036

Re: Holding only VWENX for retirement

Holding one fund is a fine idea if the one fund matches your desired allocation. "Holding only VWENX" is well within the range of sanity. VWENX has a stock allocation that would be too high for me. I won't get into whether or not VWENX is preferable to a pure index fund with 60/40 allocation, the Va...
by nisiprius
Tue Aug 14, 2018 6:55 pm
Forum: Investing - Theory, News & General
Topic: Magic Formula Results
Replies: 20
Views: 1875

Re: Magic Formula Results

When I first learned about it, I said "if it's really a formula and it really works, why doesn't someone embody it in the form of a mutual fund?" In 2011, Greenblatt did just that, launching: Formula Investing U.S. Value Select (FNSAX) Formula Investing International Value Select (FNAAX) Formula Inv...
by nisiprius
Tue Aug 14, 2018 6:16 pm
Forum: Investing - Theory, News & General
Topic: How do index funds affect stock valuations?
Replies: 15
Views: 906

Re: How do index funds affect stock valuations?

They cannot affect relative stock valuations because what you are buying or selling exactly matches the composition of the market. In theory, if you tried to buy a really enormous amount of an index fund--let's say an index ETF like VTI--there might not be enough stocks available at the current mark...
by nisiprius
Mon Aug 13, 2018 7:42 pm
Forum: Personal Consumer Issues
Topic: What is the best way to determine if one should buy something or save their money?
Replies: 29
Views: 1761

Re: What is the best way to determine if one should buy something or save their money?

The only rule I have is that it is not the one-time purchases or splurges that do the damage, it's anything with continuing monthly payments. Among other things, it is amazingly difficult to give up e.g. any magazine subscription, even if you are hardly reading and aren't enjoying the magazine. So I...
by nisiprius
Mon Aug 13, 2018 7:35 pm
Forum: Investing - Help with Personal Investments
Topic: Inflation adjusted annuity
Replies: 26
Views: 1519

Re: Inflation adjusted annuity

Regardless of BobK's recommendation, I would avoid true inflation adjusted annuities. An insurance company takes a LOT of risk with a product like that and the price to the annuitant will be unreasonably high. Whenever I've checked, the price for a CPI-linked annuity has been a tad less than the pr...
by nisiprius
Mon Aug 13, 2018 6:15 pm
Forum: Investing - Theory, News & General
Topic: S&P Risk Parity Index Family
Replies: 9
Views: 519

Re: S&P Risk Parity Index Family

This seems on the face of it to pin down the meaning of "risk parity" to mean not only equalizing risk between asset classes, but also defining the specific set of asset classes that need to be in a portfolio for it to be called "risk parity." However, aren't they different from the asset classes u...