Search found 8502 matches

by Doc
Fri Sep 21, 2018 2:02 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

vineviz wrote:
Fri Sep 21, 2018 1:38 pm
Doc wrote:
Fri Sep 21, 2018 1:33 pm
That's a riddle.
What's the riddle?
My bad. I made the assumption that your chart was the entire market depth.

Right now I see over 3000 shares in the ask cue.
by Doc
Fri Sep 21, 2018 1:33 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

No, the NAV is determined by the basket of underlying, and the volume of trading in that market. You don't need trades in VIOV to know what the NAV is. Agreed, I don't need a trade to determine the NAV. I do need a trade to determine if the ETF is trading near it's NAV. If I was a major player I wo...
by Doc
Fri Sep 21, 2018 9:41 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Depth of the order book and accuracy of the price are different things. You claimed that infrequent trading results in inefficient markets. Inefficient markets are those that don't incorporate all information into prices--i.e. prices are inaccurate (based on some metric, in this case the price of I...
by Doc
Thu Sep 20, 2018 3:54 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Infrequent trading tends to cause markets to be inefficient. No. No. No. This whole thread has been about us trying to explain to you why this isn't the case with index ETFs like VIOV. If nothing else, the fact VIOV trades so close to IJS/VIOV-IV despite having a handful of trades during an entire ...
by Doc
Thu Sep 20, 2018 3:23 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Yes an AP is involved but purely as an intermediary. The analogy to a company issuing its own shares still holds. I don't think the analogy holds. A company issuing its own shares is selling part of the ownership in the company. Vanguard is not the ETF. It is only the sponsor. The ETF is as a secur...
by Doc
Thu Sep 20, 2018 2:33 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

What Is The Creation/Redemption Mechanism? When an ETF company wants to create new shares of its fund, whether to launch a new product or meet increasing market demand, it turns to someone called an authorized participant (AP). An AP may be a market maker, a specialist or any other large financial ...
by Doc
Thu Sep 20, 2018 1:11 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Not sure what you’re trying to say here. If I wanted a million shares of VIOV and the available secondary volume is only 500k shares, Vanguard would create 500k of new shares for me on the spot, executing at NAV. Why doesn’t this mitigate your concerns of illiquidity? I don't think that Vanguard ca...
by Doc
Thu Sep 20, 2018 11:59 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

No, I don't think so. A market maker has lots of ways to keep the ETF near NAV in an instant. Plus, even a HFT has lways to step in algorithmically to offset the trade (shorting VIOV and buying IJS, for instance) and still profit handsomely within the bid/ask spread. What's you definition of handso...
by Doc
Thu Sep 20, 2018 11:26 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Doc. I don’t know why the folks here have been holding this out on you, but here you go: https://www.vanguard.nl/documents/under ... uidity.pdf With ETFs, ADV provides only a partial indication of liquidity. That’s because unlike single shares, the supply of ETFs is open-ended. New ETF shares can b...
by Doc
Thu Sep 20, 2018 11:18 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

The operative word in your definition you are ignoring is 'can'. It doesn't mean that assets are frequently bought or sold into the market without affecting the asset's price. If anything, your chart shows data supporting vineviz's contention, because a security is very sparsely traded but tracks c...
by Doc
Thu Sep 20, 2018 11:07 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

vineviz, we are not on the same page. If the bid is 500 shares at 10 and I place a market off to sell 1000 shares, 500 shares will sell at 10 and the rest will sell at some lower price thereby reducing the bid price after the sell order completes. The new best bid price is now lower than the start. ...
by Doc
Thu Sep 20, 2018 10:07 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

If you are going to buy a few shares of SCV every month and not sell them for ten years VIOV may well serve your needs. But if you already have 1000 plus shares and you want to sell them quickly for some reason without moving the market with your sale you will be better off with IJS. OMG. This just...
by Doc
Thu Sep 20, 2018 9:15 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Doc, what data have you provided to show that low volume necessarily implies low liquidity? What is 'Liquidity' Liquidity describes the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset's price. Read more: Liquidity https://www.investopedia...
by Doc
Wed Sep 19, 2018 6:38 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

You’ve found someone who doesn’t understand ETF liquidity to confirm the same misconception we’ve been persistently debunking. We have different ideas on this liquidity question. I have tried to use what data I can readily access to support my ideas. I asked you to give me some references to suppor...
by Doc
Wed Sep 19, 2018 12:02 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

VIOV FACTSET ANALYTICS INSIGHT VIOV is one of three funds tracking S&P's SmallCap 600 Value index, and the question of whether it's the best fund in the space really depends on what the investor needs from it. All three funds offer the same exposure: a tilt toward smaller firms and weaker value cha...
by Doc
Wed Sep 19, 2018 11:49 am
Forum: Investing - Theory, News & General
Topic: Bonds. Why? (vs. cds)
Replies: 59
Views: 4330

Re: Bonds. Why? (vs. cds)

Yes, CD's are backed by FDIC, but Treasury bonds are backed by the US government, the same entity that backs the FDIC. Minor point most of the time. FDIC insurance covers principal and accrued interest. The "full faith and credit" insurance for Treasuries also "insures" the future interest payments...
by Doc
Wed Sep 19, 2018 9:36 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

vineviz wrote:
Wed Sep 19, 2018 8:12 am
Neither average daily volume nor level 2 quotes accurately reflect on the liquidity of an index ETF.
OK. You are more knowledgeable than I am. What should we be looking at? What is another or hopefully better metric to use to reflect on the liquidity of an index ETF?
by Doc
Wed Sep 19, 2018 7:27 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

The gap can be very high because there is not enough of a market for that large investment bank to bother with. Even if that large bank got into the market where would it get the investors on the other side of the trade. What is your source for that? There is no reason a market maker for IJS could ...
by Doc
Tue Sep 18, 2018 7:44 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Question: if a large investment bank has an inventory of VIOV and there are a lot more sellers of IJS than VIOV and a lot more buyers of VIOV than can be fulfilled with sellers of VIOV, how far can the gap in value relative to NAV grow of the two before the investment bank steps in and arbitrages i...
by Doc
Tue Sep 18, 2018 7:37 am
Forum: Investing - Theory, News & General
Topic: Discount Cash Flow Analysis (DCF)
Replies: 11
Views: 735

Re: Discount Cash Flow Analysis (DCF)

There's nothing magical about the five years, and different people will estimate specific annual cash flows over different periods of time. I typically did 10 years when I was doing valuations Assuming one is calculatingly net present value with the discount (aka hurdle) rate as given and also typi...
by Doc
Mon Sep 17, 2018 3:57 pm
Forum: Investing - Theory, News & General
Topic: Four International ETFs that are better diversifiers than VXUS
Replies: 28
Views: 2145

Re: Four International ETFs that are better diversifiers than VXUS

Because large-cap stocks from developed nations have relatively high correlations with US stocks AND tend to dominate the broad international index funds (such as Vanguard Total International Stock ETF), it's my opinion that a US-based investor who wants the benefits of international diversificatio...
by Doc
Mon Sep 17, 2018 3:09 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

vineviz wrote:
Mon Sep 17, 2018 2:37 pm
You could just as easily make up a story about “too many buyers”.
I thought about that but I wanted to leave the idea open for somebody to argue with me about. :D
by Doc
Mon Sep 17, 2018 2:28 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

It turned out I was trying to buy using limit orders in a period where the price was escalating, That's what I got from your experience. Not enough sellers. If I put in a limit order to buy IJS at $1/share how long will that take to execute? Is the problem that there are not enough sellers? chisey ...
by Doc
Mon Sep 17, 2018 11:37 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

It turned out I was trying to buy using limit orders in a period where the price was escalating, and upping my limit several times didn't catch a willing seller until just before the trading day ended. As it turned out, there were NO transactions of the ETF that entire time, and I speculate that if...
by Doc
Mon Sep 17, 2018 11:34 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

vineviz wrote:
Mon Sep 17, 2018 11:17 am
It's true that VIOV has fewer trades, but the trades it DOES have are executing very close to the IV (as you'd expect for a liquid ETF).
Thanks, I just notice that the trades themselves are indeed very close to the IV. It is only the time between trades where the lines diverge.
by Doc
Mon Sep 17, 2018 11:11 am
Forum: Investing - Theory, News & General
Topic: Vanguard Ultra-Short-Term Bond Fund now available
Replies: 83
Views: 22203

Re: Vanguard Ultra-Short-Term Bond Fund now available

This is one of those funds that makes me wonder what the SEC yield really is. My understanding is that it is supposed to be essentially the net yield to maturity, but this fund has YTM of 2.9% and ER of 0.1%, which would imply net YTM of 2.8% vs. SEC yield of 2.54%. Let me try. The SEC yield is bas...
by Doc
Mon Sep 17, 2018 10:56 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

I looked at the Level II quotes and indeed VIOV has enough market depth for most of us at least today. But there are not as many trades as IJS and the variation of the trades from the indicative value (IV) is greater for VIOV than IJS which is why I assume that there is more of a diversion from the ...
by Doc
Sun Sep 16, 2018 4:39 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

t appears to be a tenuous case, since VIOV has spreads very cloes to IJS despite substantially lower volume. Why? Maybe but nobody has addressed the spreads yet because nobody has looked at the market depth once you get past the top of list. The market is closed. We don't know right now. Several we...
by Doc
Sun Sep 16, 2018 9:40 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

In both cases, sharp upticks and downticks were resolved quickly but there were alot more of them for VIOV and the baseline range for IJS is lower in magnitude. But if you are a long-term investor, this is in the noise in both cases. You are (almost) right in defining this as noise. But I don't usu...
by Doc
Sat Sep 15, 2018 7:24 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Vanguard's market makers will make sure that you can do it without moving the price away from NAV. Just what is a Vanguard market maker? Are they a subsidery of Vanguard Marketing? Is a broker allowed to influence the market? It has always been my understanding that a broker is a neutral agent. But...
by Doc
Sat Sep 15, 2018 5:19 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

Look at the sales chart for the lase few days:

Image

Those little red dots are the VIOV trades.

Go to Yahoo finance and chart VIOV by itself. There is ten, twenty, thirty minutes between trades.
by Doc
Sat Sep 15, 2018 5:12 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

In fact, I’d say that the low average daily volume of VIOV is itself evidence that VIOV is as liquid as IJS. I need you to elaborate on this idea. I don't follow it. If VIOV was persistently trading away from NAV, you’d see millions in arbitrage trades: Short VIOV and long IJS, or vice versa. There...
by Doc
Sat Sep 15, 2018 7:41 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

ETF providers create new shares of ETFs all the time, which is what minting new shares means. This doesn’t just happen when the ETF is launched. But they do it with baskets of stocks provided by outside investors. If they did it with their own basket they would be competing with those outside inves...
by Doc
Fri Sep 14, 2018 6:45 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

What you describe is an option you have if you hold the mutual fund share class and want to convert to ETF shares, but most newly minted ETF shares of Vanguard funds are created by Vanguard and sold in bulk to institutional investors and market makers. That is the normal way ETF shares get created ...
by Doc
Fri Sep 14, 2018 7:00 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3136

Re: Tax loss harvesting - wash sale rule

There is no IRS guidance on two index mutual funds following the same index. I choose not to be a test case. Since I buy my replacement in tax advantaged and keep the position for only 30 days is very easy to buy a replacement fund that follows a different index but has the expectation of providing ...
by Doc
Fri Sep 14, 2018 6:48 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

VIOV is the ETF share class of a fund that also includes an institutional mutual fund share class. Vanguard can invest some of the cash position in additional securities and mint new ETF shares easily, so low supply of shares on the market should not be an issue. If there were low demand to buy ETF...
by Doc
Fri Sep 14, 2018 6:37 am
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 140
Views: 17699

Re: Vanguard - You'll need to sign up for security codes soon

The only thing I managed to do from the bank account is transferring into the settlement fund (a MM). Do you guys mean that I can instantly use the amount just transferred to buy the desired fund ? I'm using "transferred", but it means buying MM shares with money in the linked bank account. We are ...
by Doc
Thu Sep 13, 2018 6:42 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

I had $2 commissions too, but $2 was a much bigger chunk of my monthly purchases (~$500 give or take). Aha! I would never buy odd lots of an ETF. Our $500 per month goes into Vg ultra short where it builds up into enough to make that $2 transaction fee worth while. Let's see $2 per month is worth 6...
by Doc
Thu Sep 13, 2018 5:57 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 140
Views: 17699

Re: Vanguard - You'll need to sign up for security codes soon

Kevin M wrote:
Thu Sep 13, 2018 5:08 pm
. I don't think you lose the links to external bank accounts by upgrading, but if you do, it's easy enough to set them up again.
It's been several years since I upgraded but I think you need to set it up again. IIRC they use a different correspondent bank for VBS.

It is easy to set them up again.
by Doc
Thu Sep 13, 2018 5:49 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 140
Views: 17699

Re: Vanguard - You'll need to sign up for security codes soon

. Just due a mock purchase, and cancel after selecting her external bank as "where the money is coming from", but before submitting the transaction. This is the point I was trying to make up thread. You don't even need to do a mock purchase. You can just do a transfer cash in. You have a credit whi...
by Doc
Thu Sep 13, 2018 4:47 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

You aren't seeing any trades because there aren't any, that doesn't mean people are trying. I don't think you understand jhfenton's point. He might be right but I don't see the evidence. Maybe it's there. But why guess when I can see better trade execution with IJS. Have considered moving to IJS in...
by Doc
Thu Sep 13, 2018 4:05 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

But the underlying S&P 600 securities trade more, and if you want to buy thousands of shares of VIOV the market maker can make them very efficiently. How do I know that? I would guess that it was a limit order that didn't execute fully. There is no way that a 400 share market order would not execut...
by Doc
Thu Sep 13, 2018 3:55 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 140
Views: 17699

Re: Vanguard - You'll need to sign up for security codes soon

How is this any different than what I described? You either buy shares of your settlement fund if you want to use it to buy brokered products, or you buy shares of any other mutual fund directly if that's what you want to do. Either way, you do the "pull" by buying shares of a mutual fund. The diff...
by Doc
Thu Sep 13, 2018 2:17 pm
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

I suspect you could buy or sell 50,000-100,000 shares ($7.3 MM - $14.6 MM) of VIOV in a day without significant transaction costs. Both the liquidity of the underlying securities and the liquidity in IJS and SYLV help keep VIOV close to NAV. A few weeks ago there was a post here that said something...
by Doc
Thu Sep 13, 2018 10:50 am
Forum: Investing - Theory, News & General
Topic: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]
Replies: 99
Views: 5167

Re: SLYV vs IJS [SPDR vs. iShares S&P 600 Small Cap Value]

IJS remains more tax-efficient, though, so I'd still favor IJS or VIOV (Vanguard's S&P600 ETF) in a taxable account. Average trading volume for VIOV is ~10,000 vs ~175,000 for the other two. If my SCV was all in VIOV I wouldn't be able to sell it without taking a big hit on trading costs on many da...
by Doc
Thu Sep 13, 2018 10:06 am
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 140
Views: 17699

Re: Vanguard - You'll need to sign up for security codes soon

I don't carry a smart phone either, but have a flip phone and a landline. You don't need a smartphone. I set one of our accounts up yesterday. Took at least 3 minutes because my flip phone was in another room. You can also use a landline with a voice message. Just set it up so that you only need a ...
by Doc
Thu Sep 13, 2018 10:01 am
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 140
Views: 17699

Re: Vanguard - You'll need to sign up for security codes soon

On a side note, I never changed my account to the "brokerage" type (and very happily so!). My wife though has the new structure. Is there a way to invest directly from bank account to the desired fund, without passing through the settlement fund first ? Yes. You can buy shares of a mutual fund on t...
by Doc
Thu Sep 13, 2018 9:56 am
Forum: Personal Consumer Issues
Topic: Vanguard electronic bank transfers
Replies: 22
Views: 2035

Re: Vanguard electronic bank transfers

The reason you have to initiate the transaction from Vanguard is they are not a bank. They do not have a routing number, the electronic address used for bank transfers. You need a routing number to set up ACH transfers that would initiate at your bank. But they do have a correspondent bank that han...
by Doc
Thu Sep 13, 2018 7:53 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale rule
Replies: 57
Views: 3136

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. These are not only substantially identical but exactly identical. The "substantially" concept comes from s...
by Doc
Wed Sep 12, 2018 11:27 am
Forum: Personal Consumer Issues
Topic: Vanguard electronic bank transfers
Replies: 22
Views: 2035

Re: Vanguard electronic bank transfers

I’m curious, why do you perceive the risk to be greater with vanguard checks than a bank’s checks? Even if vanguard check security stinks somehow, I keep far less money in an uninsured money market account (the only vanguard account available to me for checks) than my insured bank / credit union ac...