Search found 8607 matches

by Doc
Tue Oct 23, 2018 6:40 am
Forum: Investing - Theory, News & General
Topic: Is there a case for Active in fixed income?
Replies: 16
Views: 1348

Re: Is there a case for Active in fixed income?

As an example of active/index compare Vanguard Short-Term Treasury Fund Admiral Shares VFIRX with Vanguard Short-Term Treasury Idx Admiral VSBSX from 1/1/2010 to date. Index $10,681.13 vs active $10,918.16 growth of $10k. (I'm not making a judgement of which is better.) Similarly for the intermedia...
by Doc
Mon Oct 22, 2018 9:39 am
Forum: Investing - Theory, News & General
Topic: Is there a case for Active in fixed income?
Replies: 16
Views: 1348

Re: Is there a case for Active in fixed income?

If the managers can add value of more than 0.05%, that is all that is needed to beat the cheapest index option. Not add value or get cheaper alone but also lower risk. Another factor I forgot is the ability of increasing yield by "riding the yield curve" if the shape of the curve is attractive. An ...
by Doc
Mon Oct 22, 2018 7:38 am
Forum: Investing - Theory, News & General
Topic: Is there a case for Active in fixed income?
Replies: 16
Views: 1348

Re: Is there a case for Active in fixed income?

Is there a case for owning things that are not in the bond index? What about the other side of the coin. Is there a case for not owning things that are in the index? Shortening the duration of a Treasury fund to reduce risk is currently where Vg's active fund is. Or choosing not to buy a low liquid...
by Doc
Sun Oct 21, 2018 12:33 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

There's no need to maintain two systems, Doc. All they have to do is incorporate the best features of both into one system. A bit of merging the existing programming from the two systems one time and it's done. That's the way things are normally done in the business world in a merger of two compani...
by Doc
Sat Oct 20, 2018 5:51 pm
Forum: Investing - Theory, News & General
Topic: Vanguard website problems [Transactions won't go through, 500 error...]
Replies: 101
Views: 4547

Re: Vanguard website problems [Transactions won't go through, 500 error...]

grok87 wrote:
Sat Oct 20, 2018 3:21 pm
trying to pull up info on a vanguard fund on vanguards website and having problems. it keeps telling me to browse a list of funds and then when i do that and click on the fund it loops me back and tells me to browse a list of funds.

anyone else?
No.
by Doc
Sat Oct 20, 2018 3:19 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

I'm glad that it worked out well for you, Doc. However, that's not the case for the vast majority of folks I've talked to and who've posted here with their complaints. Maybe those that like the new platform don't complain so they don't post. You sample is biased. :D For those people who only had Va...
by Doc
Sat Oct 20, 2018 2:43 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

... The upgrade eliminated the problem of having your settlement fund in a different legal entity from your brokerage holdings which could cause several days delay in making trades ... :confused The old mutual fund accounts didn't have / require a "settlement fund" ... did they? Yes it was the mone...
by Doc
Sat Oct 20, 2018 2:13 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

The probability of Vanguard changing part of their new system to the old arcane system is iffy despite some people's wishes. It just seems very strange to print a statement that says YTD when the data is not YTD. Certainly they have the data, so why not print it. It is even more strange if you have...
by Doc
Sat Oct 20, 2018 12:51 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

Wish Vanguard would bring that great feature back to the brokerage platform (hint, hint). <My Accounts> <Transaction History> (choose Account) (choose YTD) <Update Table> <Right Click> <Print> All done. No hint needed. :D We're talking about the printed statements that Vanguard sends out monthly th...
by Doc
Sat Oct 20, 2018 10:25 am
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

Mel Lindauer wrote:
Fri Oct 19, 2018 8:36 am
Wish Vanguard would bring that great feature back to the brokerage platform (hint, hint).
<My Accounts> <Transaction History> (choose Account) (choose YTD) <Update Table> <Right Click> <Print>

All done. No hint needed. :D
by Doc
Sat Oct 20, 2018 10:07 am
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

I thought your situation was that the two transactions actually posted on two consecutive days because of the closing time on the CD being one hour later than the mutual fund. If that was true neither the same trade date or the same settlement date criteria were met. Posted on two consecutive days,...
by Doc
Sat Oct 20, 2018 10:02 am
Forum: Investing - Theory, News & General
Topic: How do you trade ETFs exactly like mutual funds?
Replies: 44
Views: 2250

Re: How do you trade ETFs exactly like mutual funds?

I agree. I don't tend to worry much about intraday volatility, since I consider myself to be a long-term investor, but I'd definitely avoid executing orders in the first or last 30 minutes of the trading day if I could. For international stocks, it's also useful to keep in mind that most European m...
by Doc
Sat Oct 20, 2018 9:45 am
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

I think that when Schwab wrote their message they were not thinking of a T2 trade followed by a T1 trade the next day. They were thinking T2 and T2. I don't know about that, since they do specifically state that "liquidation violations are based on trade dates, not settlement dates". https://www.sc...
by Doc
Fri Oct 19, 2018 4:47 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

It is not that clear as Vanguard does mention the sell date, too. But under "How to avoid trade restrictions" they say: If you're paying for a trade with assets from a Vanguard fund, request the exchange into your settlement fund by the close of regular trading on the New York Stock Exchange (NYSE)...
by Doc
Fri Oct 19, 2018 3:46 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

There were warnings when the trade to buy the CD was placed, but I thought it just meant the funds had to be in settlement account in two days. I did not read the warnings that closely, as I had seen the same with prior CD purchases that were placed before 4 pm eastern. Liquidation violations in a ...
by Doc
Fri Oct 19, 2018 2:26 pm
Forum: Investing - Theory, News & General
Topic: Morningstar Not Displaying Money Market Quotes?
Replies: 5
Views: 311

Re: Morningstar Not Displaying Money Market Quotes?

I see the same error now, but I would never have noticed. I've always just tracked my MM funds as cash in my M* portfolio. I noticed. I sometimes used a MM fund as a base in the chart function when I wanted to compare two ETF's. I can no longer do that. I just edit "ETF" in the chart page URL to "f...
by Doc
Fri Oct 19, 2018 2:12 pm
Forum: Investing - Theory, News & General
Topic: Morningstar Not Displaying Money Market Quotes?
Replies: 5
Views: 311

Re: Morningstar Not Displaying Money Market Quotes?

I see the same error now, but I would never have noticed. I've always just tracked my MM funds as cash in my M* portfolio. I noticed. I sometimes used a MM fund as a base in the chart function when I wanted to compare two ETF's. I can no longer do that. Not Found The requested URL /money-market/quo...
by Doc
Thu Oct 18, 2018 11:08 am
Forum: Investing - Theory, News & General
Topic: Short Term Bond yield over 3%
Replies: 74
Views: 10309

Re: Short Term Bond yield over 3%

Valuethinker wrote:
Thu Oct 18, 2018 8:24 am
Poster grok87 loaded up I believe (and posted about it). There were others, here.
And I sold my entire TIPS ladder at a large loss in order to rebalnce into stocks. :(
by Doc
Thu Oct 18, 2018 11:04 am
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

There were warnings when the trade to buy the CD was placed, but I thought it just meant the funds had to be in settlement account in two days. I did not read the warnings that closely, as I had seen the same with prior CD purchases that were placed before 4 pm eastern. Liquidation violations in a ...
by Doc
Wed Oct 17, 2018 6:27 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

Yes, CD/bond market hours are until 5. I learned this after my CD purchase. I was actually surprised when I noticed the time...almost as surprised as I was a to see a 4 month CD with YTM of 3.15% :) . After re-reading the email, that listed conditions for trading without settled funds, it seems the...
by Doc
Wed Oct 17, 2018 3:41 pm
Forum: Investing - Theory, News & General
Topic: Treasuries safe?
Replies: 33
Views: 1569

Re: Treasuries safe?

Rick Ferri wrote:
Wed Oct 17, 2018 1:50 pm
Check back with me if you notice all your neighbors walking around with shotguns in their hands.
I've lived in areas where that was normal.

And nobody mugged people on the street or broke into houses.
by Doc
Wed Oct 17, 2018 3:36 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

jeffyscott wrote:
Wed Oct 17, 2018 2:51 pm
They gave me a pass, this time. So no trading restrictions. Just trying to learn the rules.
:sharebeer
by Doc
Wed Oct 17, 2018 2:45 pm
Forum: Investing - Theory, News & General
Topic: 8-week t-bill debuts tomorrow 10/16
Replies: 3
Views: 1033

Re: 8-week t-bill debuts tomorrow 10/16

Damn. I have a spreadsheet to calculate roll down yields from the Treasury yield curve data. I just copy and paste directly form their data. Now it's going to have an extra data point and it will cause my spreadsheet to hiccough. :oops:

Thanks for the warning.
by Doc
Wed Oct 17, 2018 2:38 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

Sequence was: bought CD at 4:30 EST, placed order to sell mutual fund immediately after. So the fund sale occurred at next days close. And both trades settled the day after. Never had a brokerage account until about 4 months ago, so I don't really know if that would be considered a violation. I fig...
by Doc
Wed Oct 17, 2018 1:47 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

It closes at 5pm EST. Thanks, did not know I had an extra hour available. Or not... It turns out Schwab will basically not let me make use of that extra hour of the bond market. I got a trade violation email because the mutual fund sale to cover CD purchase happened the next day (since market was c...
by Doc
Wed Oct 17, 2018 10:34 am
Forum: Investing - Theory, News & General
Topic: 30 yr TIPs auction: Oct. 18: 1.2% real yield?
Replies: 44
Views: 3832

Re: 30 yr TIPs auction: Oct. 18: 1.2% real yield?

It's at 1.19% now. Even if I knew rates would never be that high again, I wouldn't be interested. There have to be better places to put your money. Even for a TIPS fan like me. In Swedroe's "Winning Bond Strategy" March 2006 p 225 he recommended 100% TIPS at > 3% real yield and 0% at < 1.5% for the...
by Doc
Wed Oct 17, 2018 10:20 am
Forum: Investing - Theory, News & General
Topic: flattening yield curve and tlh treasuries
Replies: 6
Views: 693

Re: flattening yield curve and tlh treasuries

Waiting to the end of the year may result in a loss of opportunity. and the value of the tax loss more than offsets any new yield. Waiting to the end of the year to TLH bonds in a rising rate environment is unlikely to result in a lost opportunity. If the the tax loss is used to offset cap gains th...
by Doc
Wed Oct 17, 2018 8:09 am
Forum: Investing - Theory, News & General
Topic: flattening yield curve and tlh treasuries
Replies: 6
Views: 693

Re: flattening yield curve and tlh treasuries

I have a $5k short-term cap loss in two-year Treasuries. Given the flattening of the yield curve, I can harvest the position, move to one-year treasuries at a "cost" of about 22 basis points. In general, the flattening of the yield curve seems to offer superior TLH opportunities for treasuries. mak...
by Doc
Wed Oct 17, 2018 7:51 am
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

How are you guys generating YTD statements? I use Quicken to download all 7 of our accounts at three different brokers, 2 checking accounts at two different banks and 3 credit card accounts at one bank. I only download the end of year statements and most times stick them in the tax file without eve...
by Doc
Tue Oct 16, 2018 6:16 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

Did you make a killing doing that in 2008? Just curious. No. I had been going with the mantra that TIPs were just like nominal Treasuries except for the inflation protection. In the spring of '08 I completed creating my 10 year TIPs ladder just in time to find out that TIPs were not "just like Trea...
by Doc
Tue Oct 16, 2018 3:41 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

... in any case. So, I certainly have no intention to ever sell CDs in order to rebalance into stocks (or for any purpose). Any purpose? Don't disagree with the CD price aspects, but would you sell Treasuries that were up 10% to buy corporates that were down 10%. That's a 20% freebee. If it happens...
by Doc
Tue Oct 16, 2018 3:25 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

But in a non-margin account you do get money market interest for the difference in settlement period because they sweep the money to the settlement account. My question was do you then have to pay interest going the other way? I now see the one day balance increase in the MM account. I confused mys...
by Doc
Tue Oct 16, 2018 2:47 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

No. If you sell T+2 and buy T+1 in a non-margin account, they float the difference in settlement with no interest charge. That's why I was surprised the one time I did it in a margin account and got a small margin interest charge. I agree that they float the difference. What I was questioning was w...
by Doc
Tue Oct 16, 2018 2:37 pm
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

You are comparing a CD held to maturity with a fund that normally sells it's holding with one year remaining. That comparison could be misleading. As could annualizing the last 30 days total return (SEC yield) and comparing it to a future fixed income multi-year promise. Okay, how about this one? :...
by Doc
Tue Oct 16, 2018 2:05 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

All I'm saying is that when the settlement period is in your favor--buy ETF, sell MF--Vanguard sweeps the amount to the Federal Money Market Fund and pays you interest on it for a day. OK. I have seen that small credit and assumed it was accrued dividends from what I sold. Now the question is what ...
by Doc
Tue Oct 16, 2018 12:38 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

The next day, my account showed a money market balance equal to the amount of VSBSX I sold with an offsetting negative balance in "Total credits and debits" for the unsettled ETF purchases. When the last ETF purchase settled the balances netted out, and I received a money market dividend of $0.98. ...
by Doc
Tue Oct 16, 2018 10:59 am
Forum: Investing - Theory, News & General
Topic: 2-year CDs at Vanguard and Fidelity Today
Replies: 476
Views: 69927

Re: 2-year CDs at Vanguard and Fidelity Today

I took a few secondaries in between 2-3 year at about 3.2% today. I figured since that is nearly equal to SEC yield of Vg short term investment grade (VFSUX), it was a reasonable yield with no credit risk. You are comparing a CD held to maturity with a fund that normally sells it's holding with one...
by Doc
Tue Oct 16, 2018 10:46 am
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

The pages of the statement that show the brokerage account say "year-to-date" on them. However, the data is not YTD. You might be mis-interpreting the report. The "year-to-date" refers to the totals. The "transaction" section is only for the current quarter. I think on the old platform the reports ...
by Doc
Tue Oct 16, 2018 9:27 am
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 175
Views: 38436

Re: Vanguard has switched to brokerage only accounts

Going in the other direction, if you do have a margin account they will charge you a day of interest if you do the ETF to mutual fund swap (because the mutual fund buy settles a day before the ETF sale). But If you don't have a margin account, Vanguard just floats it. I'm not sure that's correct. O...
by Doc
Mon Oct 15, 2018 2:36 pm
Forum: Investing - Theory, News & General
Topic: Schwab-specific TLH question - SCHF/SCHE
Replies: 11
Views: 430

Re: Schwab-specific TLH question - SCHF/SCHE

The easiest thing to do would probably be to move into the corresponding Vanguard ETFs (i'd like to keep Emerg/Dev separate since Emerging has gotten killed and I havent rebalanced). This is what I do but I buy the replacement funds in a Vanguard IRA and reverse the positions after 30 days. But I d...
by Doc
Mon Oct 15, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Which is better CD - rates and terms?
Replies: 65
Views: 5476

Re: Which is better CD - rates and terms?

And *most* of a significant allocation to FI is not realistically subject to use in rebalancing. To review for a 60/40 mix: 10% drop in the stock market means shifting 2.4 of the original 40 to stocks, 6% of your original FI 20% drop, shift 12% of your original FI 30% drop, shift 18% 50% drop, shif...
by Doc
Mon Oct 15, 2018 9:15 am
Forum: Investing - Theory, News & General
Topic: Is your Taxable account crowed with "highly correlated" but not "substantially identical' funds? how else can you TLH
Replies: 15
Views: 1078

Re: Is your Taxable account crowed with "highly correlated" but not "substantially identical' funds? how else can you TL

Of course brokers report what you sell in a taxable account. That is what a 1099-B is. Will brokers report a wash sale? I don't know for sure, but at least Vanguard will make adjustments if CUSIP are the same in the same account. As far as I know brokers are only obligated to report wash sales with...
by Doc
Sun Oct 14, 2018 3:59 pm
Forum: Investing - Theory, News & General
Topic: Vanguard website problems [Transactions won't go through, 500 error...]
Replies: 101
Views: 4547

Re: Vanguard website problems [Transactions won't go through, 500 error...]

MFInvestor wrote:
Sun Oct 14, 2018 2:35 pm
They report that they only received 75 complaints. That number seems very low to me.
Maybe they only got 75 complaints because there phones weren't working either. :twisted:
by Doc
Sun Oct 14, 2018 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Which is better CD - rates and terms?
Replies: 65
Views: 5476

Re: Which is better CD - rates and terms?

Again you seem to ignore the point I made then you repeated yourself a couple of posts ago. We both gave examples of how even a large decline in stocks results in having to sell a minority of one's FI to rebalance. IOW almost everyone fulfills the criterion you give in the last sentence. For that p...
by Doc
Sun Oct 14, 2018 1:51 pm
Forum: Investing - Theory, News & General
Topic: Short Term Bond yield over 3%
Replies: 74
Views: 10309

Re: Short Term Bond yield over 3%

I can understand that if you are only considering the correlation with equities, but I don't think that's really all you do. I believe you have mentioned owning investment-grade bonds for at least some of the portion of your fixed income not targeted for rebalancing into stocks. If I held TIPS, I w...
by Doc
Sun Oct 14, 2018 12:24 pm
Forum: Investing - Theory, News & General
Topic: Short Term Bond yield over 3%
Replies: 74
Views: 10309

Re: Short Term Bond yield over 3%

Correlation with equities is related to credit risk, which tends to show up in a financial crisis when stocks tank, as happened in late 2008. Usually but not always. TIPs vs Nominals in late 2008: https://i.postimg.cc/bwYtFWRg/TIPS-vs-Nominals-Capture.gif This is why I gave up on TIPS. :(
by Doc
Sun Oct 14, 2018 11:27 am
Forum: Investing - Theory, News & General
Topic: Short Term Bond yield over 3%
Replies: 74
Views: 10309

Re: Short Term Bond yield over 3%

I am sill puzzled by the emphasis of some posters solely on the SEC yield in choosing a short term bond fund when for intermediate term funds one would also consider other factors such as the duration, credit worthiness, correlation with equities, performance history etc. If you are comparing two f...
by Doc
Fri Oct 12, 2018 3:25 pm
Forum: Investing - Theory, News & General
Topic: Short Term Bond yield over 3%
Replies: 74
Views: 10309

Re: Short Term Bond yield over 3%

I don't really want anything less than 6-month or more than 2-year maturity, so the index fund comes closer to what I want. I'm putting much more into individual Treasuries than I have in the fund. OK, so you know more than the management team at Vanguard Short Term Treasury fund and go with the lo...
by Doc
Fri Oct 12, 2018 3:11 pm
Forum: Investing - Theory, News & General
Topic: Does Fidelity offer the best index products for a passive investor compared to Vanguard
Replies: 61
Views: 5447

Re: Does Fidelity offer the best index products for a passive investor compared to Vanguard

You will get calls from the Fidelity reps to sell you other items. Just think of when you get the low price for an oil change or a brake job on your car. You take in the coupon and you are told you need other things for your car. We have had an account with Fidelity since 2002 and have never gotten...
by Doc
Fri Oct 12, 2018 2:46 pm
Forum: Investing - Theory, News & General
Topic: Treasury Bonds are the Only Bonds You Need
Replies: 195
Views: 21506

Re: Treasury Bonds are the Only Bonds You Need

I think this thread shows us how complicated the bond market can be. Because many investors (including me) don't fully understand how the band market works, it is an inefficient market, and leads to incorrect pricing. Also, I believe even the rating agencies are subject to misreading risk. So, I av...