Search found 276 matches

by jeffp
Mon Aug 15, 2016 9:51 pm
Forum: Investing - Theory, News & General
Topic: Looking for dirt cheap commissions on DFA funds
Replies: 27
Views: 5680

Re: Looking for dirt cheap commissions on DFA funds

Not entirely on-topic, but a related question, for Rick or anyone else in the business: what's a cheap way to get short-term DFA access (ideally through Schwab's platform)? I just rolled over six figures from a previous employer's 401k and was hoping for a way to get temporary DFA access to reinvest...
by jeffp
Tue May 24, 2011 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Cards With No Foreign Transaction Fee?
Replies: 25
Views: 5587

When I went to Europe in 2008 I used a Capital One card that had no FX fees, so that was nice. Now I use a 2% cash back FIA/Schwab Invest First card for general purposes, which also happens to have no FX fees, but AFAIK that particular Schwab card is not accepting new applications at this time. More...
by jeffp
Sat Oct 30, 2010 3:20 pm
Forum: Investing - Theory, News & General
Topic: Goodwill on a balance sheet = FALSELY categorized as value?
Replies: 43
Views: 5919

Well, whadya know, Rick's Cabaret really was falsely categorized as a value company: Oct 29 (Reuters) - Strip club operator Rick's Cabaret International Inc (RICK.O) said it will take an impairment charge in fiscal 2010 due to its underperforming Las Vegas nightclub, which it bought in 2008, sendin...
by jeffp
Fri Oct 22, 2010 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: PenFed security check?
Replies: 8
Views: 1841

Yeah, I mean I wasn't going to trust them just because they new my name and that I was a PFCU customer, that's why I wanted to verify it. I ended up calling PFCU just to be 100% sure, and they verified that the company that called me was legit. It was a good thing I didn't ignore this, because as it...
by jeffp
Fri Oct 22, 2010 11:18 am
Forum: Personal Finance (Not Investing)
Topic: PenFed security check?
Replies: 8
Views: 1841

I was about to call PFCU but I ended up going to their website first. Dunno why I didn't do this earlier. From their "Contact Information" page: Credit Cards- Falcon Verification * Toll-Free U.S.: 1-888-918-7313 That matches the # I was given in the voicemail, so I guess everything is fine. Thanks f...
by jeffp
Fri Oct 22, 2010 11:15 am
Forum: Personal Finance (Not Investing)
Topic: PenFed security check?
Replies: 8
Views: 1841

Well, they left a number for me to call them back, but should I call PFCU directly first to verify this? The number left in the voicemail could be to a fake call center for all I know.
by jeffp
Fri Oct 22, 2010 10:56 am
Forum: Personal Finance (Not Investing)
Topic: PenFed security check?
Replies: 8
Views: 1841

PenFed security check?

I just got a voicemail from someone saying he wanted to do "a routine security check on behalf of Pentagon Federal Credit Union." He said it's regarding my PFCU credit card. Anyone else get a call like this recently? I googled the number he gave me, and I see other FCUs come up in the results, but I...
by jeffp
Fri Sep 03, 2010 10:57 am
Forum: Investing - Theory, News & General
Topic: Harrisburg, Pa., defaulting on its bonds......
Replies: 62
Views: 7063

jeffyscott wrote:
jeffp wrote:Are you saying an unfunded pension plan should not be a liability?
As Richard clarified, I was questioning the magnitude of the pension underfunding, based on Forbes calculation method, not whether the underfunding counts as a liability.
OK, thanks for clarifying.
by jeffp
Fri Sep 03, 2010 10:40 am
Forum: Investing - Theory, News & General
Topic: Goodwill on a balance sheet = FALSELY categorized as value?
Replies: 43
Views: 5919

Goodwill impairment was a term that was central to the settlement and a major issue on the 10K. It took me awhile to determine what "impairment" is...never did I realize the Boglehead nation could provide the answer. As I see it, goodwill represents the premium paid over the book value (assets minu...
by jeffp
Fri Sep 03, 2010 10:22 am
Forum: Investing - Theory, News & General
Topic: Goodwill on a balance sheet = FALSELY categorized as value?
Replies: 43
Views: 5919

I think you are nuts to presume Goodwill left on the books has value. You say goodwill does not have value. ...My point is if you say goodwill has no real value... I never said it has no value. Please do not misrepresent me. I said you should not presume it has value. My apologies. I misunderstood ...
by jeffp
Fri Sep 03, 2010 9:49 am
Forum: Investing - Theory, News & General
Topic: Harrisburg, Pa., defaulting on its bonds......
Replies: 62
Views: 7063

Yes, you can see the interactive map here: http://www.forbes.com/2010/01/20/states-debt-pensions-interactive-map.html Calculating unfunded pension liabilities "as the present value of a portfolio of Treasury bonds sufficient to pay currently accrued pension liabilities, minus pension assets"...woul...
by jeffp
Thu Sep 02, 2010 12:22 pm
Forum: Investing - Theory, News & General
Topic: Bernanke regrets reticence on Lehman
Replies: 1
Views: 723

Bernanke regrets reticence on Lehman

Bernanke regrets reticence on Lehman (Hope the link works - you may have to Google the headline to get a version that is readable without a FT.com subscription.) Ben Bernanke, Federal Reserve chairman, expressed regret for not being “more straightforward” with Congress in 2008 when he avoided sayin...
by jeffp
Thu Sep 02, 2010 11:32 am
Forum: Investing - Theory, News & General
Topic: Goodwill on a balance sheet = FALSELY categorized as value?
Replies: 43
Views: 5919

I have been an auditor. I think you are nuts to presume Goodwill left on the books has value. At the risk of getting into an abstract argument that no one but accountants will care about.... You say goodwill does not have value. Well, you know that the fair value of something, in general terms, is ...
by jeffp
Wed Sep 01, 2010 11:31 am
Forum: Investing - Theory, News & General
Topic: Monkeys make the same financial mistakes
Replies: 17
Views: 2222

This was really interesting. They designed the experiments really well and she presented the results well too.

Lol Brad...
by jeffp
Wed Sep 01, 2010 11:04 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Why buy and hold isn't a good strategy
Replies: 58
Views: 8807

EmergDoc wrote:Title is misleading.
I agree. But it is good advice.
by jeffp
Wed Sep 01, 2010 10:58 am
Forum: Investing - Theory, News & General
Topic: Goodwill on a balance sheet = FALSELY categorized as value?
Replies: 43
Views: 5919

How do accountants measure impaired goodwill? Is it just an up-or-down yes-or-no decision? Or do they have to come up with a dollar value? Seems to me you'd have to wait for company C to buy company A and see how much company C was willing to pay for goodwill. I am a CPA as well. Fair value account...
by jeffp
Tue Aug 31, 2010 3:08 pm
Forum: Investing - Theory, News & General
Topic: How Much Small-Value Tilt should I add?
Replies: 128
Views: 24341

Thanks for that, Rod, very interesting. That is some good analysis.
The average American can't add fractions. How many of them have tackled multi-factor investing?
EDIT: Just saw this ^ lol
by jeffp
Tue Aug 31, 2010 11:45 am
Forum: Investing - Theory, News & General
Topic: How Much Small-Value Tilt should I add?
Replies: 128
Views: 24341

When one also considers that the value premium is also generally considered to be larger than the size premium, it makes a pretty strong argument for a value-but-not-size tilt. Why would you tilt to value but not small if there is a premium for both? Is 98% reliability of the size premium over all ...
by jeffp
Tue Aug 31, 2010 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Parents near retirement - S.S. and Medicare strategy
Replies: 19
Views: 2767

Just to be clear, I wasn't suggesting a solution, I was asking a question, because I have no idea how SS works. Thanks for the info sscritic, I was hoping you would chime in.
by jeffp
Mon Aug 30, 2010 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Parents near retirement - S.S. and Medicare strategy
Replies: 19
Views: 2767

Hypothetically, what's the difference between:
- Filing & suspending at 62, then commencing benefits after retirement at 65, and
- Filing for immediate benefits upon retirement at 65?

I looked over the info in the wiki and the SSA handbook but I'm still not sure how this all works.
by jeffp
Mon Aug 30, 2010 12:44 pm
Forum: Investing - Theory, News & General
Topic: Buying non-rebalancing slices of investments. Good or bad?
Replies: 11
Views: 1538

I agree with dbr. If you're legitimately worried about the Wellington or Wellesley manager making a bad bet on some stock, and you believe in index funds, then just stick to that and allow yourself to sleep easy. The only reason to invest in those funds would be if you thought the managers, what wit...
by jeffp
Fri Aug 27, 2010 1:20 pm
Forum: Personal Consumer Issues
Topic: How Long is Too Long Commuting?
Replies: 35
Views: 4846

30 mins one-way is probably the maximum I could tolerate driving each way, but I could tolerate a little longer - maybe 45 mins door to door - if public transit was the primary means of transportation (having the option to read or sleep is a plus). My commute right now is 25-30 mins door to door (su...
by jeffp
Fri Aug 27, 2010 11:15 am
Forum: Investing - Theory, News & General
Topic: How Much Small-Value Tilt should I add?
Replies: 128
Views: 24341

When one also considers that the value premium is also generally considered to be larger than the size premium, it makes a pretty strong argument for a value-but-not-size tilt. Why would you tilt to value but not small if there is a premium for both? Is 98% reliability of the size premium over all ...
by jeffp
Fri Aug 27, 2010 11:07 am
Forum: Investing - Theory, News & General
Topic: How Much Small-Value Tilt should I add?
Replies: 128
Views: 24341

Even if you go by the index numbers we have for SV, most of the excess returns were made in the last 10 years. The 15+ years before this past decade were horrible for SV. You really have to be able to handle 20+ years of under-performance. I agree that investors should consider worst-case scenarios...
by jeffp
Fri Aug 27, 2010 10:43 am
Forum: Investing - Theory, News & General
Topic: How would you respond to market timers?
Replies: 31
Views: 3652

I gotta say, responding politely is tough for me in these situations because of how much time I spend here. Something compels me to try and talk them out of it, even though it's probably a lost cause. Recently I had a conversation with another young guy at my office, who has been eligible to join ou...
by jeffp
Thu Aug 26, 2010 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

From what I've read, if you want to absolutely minimize your liability as an employer, ideally you would hire an RIA to act as a discretionary trustee, and also an ERISA attorney. The ERISA attorney could review your plan documents and TPA service contract at the very least, and an RIA acting in tha...
by jeffp
Thu Aug 26, 2010 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

For any employee who does not want to invest in index funds, we will set up a low cost Self-directed Brokerage Account. Easy! To be perfectly honest, I would be inclined to say "tough s**t" to an employee who didn't want to invest in index funds. In 30 years they'll thank me that this was all we of...
by jeffp
Thu Aug 26, 2010 9:47 am
Forum: Investing - Theory, News & General
Topic: My battle with our IRA administrator
Replies: 14
Views: 3149

I'd say that's a big problem. And actually, that 15-business-day "rule" isn't even a safe harbor - the requirement is that the funds be remitted "as soon as they can be reasonably segregated from the plan sponsor assets," but in no event later than 15 business days. That being said, that's the requi...
by jeffp
Thu Aug 26, 2010 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

Thank you for sharing this information with us! It is very helpful. If you don't mind listing your index funds, I would like to see them: especially, since they are similar to the index funds in Thrift Savings Plan For Federal Employees (TSP). Regarding investment advice for 45 bps/year: Did you kn...
by jeffp
Thu Aug 26, 2010 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

Thanks! It's very interesting that folks would complain about the costs. Yeah, seriously. Maybe the costs in that plan should be advertised as "bottom 1% in the industry" (or whatever an accurate figure would be be based on the other funds) rather than the relatively humble "bottom quartile." Prett...
by jeffp
Wed Aug 25, 2010 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

Ways my 401k could save money: 1. Don't mail me a letter every time I change my contribution percentage. For personal reasons, I'm increasing it by 1% every two weeks and I really don't need to be reminded of what I just did. 2. Don't keep mailing me glossy brochures asking me to enroll in the 401k...
by jeffp
Wed Aug 25, 2010 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

I voted 'No.' Then again, I built my company's 401(k) plan. I understand. It seems there are as many opinions on how to set up a plan as there are people, right? However, results matter. For instance, compared to other plans is the cost of the plan's services truly low? And does the plan have a cor...
by jeffp
Wed Aug 25, 2010 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

Note: Any managed mutual funds or packaged products such as target-date funds and balanced funds that a plan has as a default option are likely to underperform a core mix of index funds, long term. Therefore, those funds are too expensive to own! That may be true, but consider the cost to the avera...
by jeffp
Wed Aug 25, 2010 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

This is the unfortunate truth. I changed my company's plan from a Merrill Lynch/BlackRock fund lineup to an all-index fund lineup, and since there was no logical way to map the funds one-to-one, I chose a participant default investment of Vanguard Balanced Index. Well, 3-4 months later, and HALF of...
by jeffp
Wed Aug 25, 2010 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

I voted 'No.' Then again, I built my company's 401(k) plan.
by jeffp
Wed Aug 25, 2010 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 285
Views: 61017

Anything that will require employees to read and learn anything will not be beneficial. My experience is that only a small subset (say less than 5%) of plan participants care. Almost all the others need to be forced to use the plan, so they should have low-cost target retirement funds forced on the...
by jeffp
Thu Aug 19, 2010 8:44 am
Forum: Investing - Theory, News & General
Topic: Criteria for selecting mutual funds or ETFs
Replies: 18
Views: 1743

3) Assets under management. Let's see if I get shouted down on this. Samuel Butler wrote "It is only on having actually lost money that one realises what an awful thing the loss of it is, and finds out how easily it is lost by those who venture out of the middle of the most beaten path." A fund wit...
by jeffp
Mon Aug 16, 2010 3:57 pm
Forum: Investing - Theory, News & General
Topic: Comparing this rise to previous recovery rises
Replies: 23
Views: 3657

Really interesting chart, Les, thanks for putting that together.
by jeffp
Mon Aug 16, 2010 1:11 pm
Forum: Investing - Theory, News & General
Topic: Florida - how housing fraud works
Replies: 12
Views: 2991

Probably a stupid question, but I don't think I'm fully understanding the scheme.... Instead, the men faked the sale to qualify for loans that covered Husani's original purchase price and left $40 million to split as profit. So they're getting a loan (or multiple loans) for $40M more than they need,...
by jeffp
Sun Aug 15, 2010 2:08 pm
Forum: Investing - Theory, News & General
Topic: Rick Ferri's Portfolio
Replies: 196
Views: 74513

The fact is, since 1928 over all 15 year calendar periods (68 total), How do you arrive at 68 total 15 year calender periods? We're talking about EVERY 15-year period you can make since 1928. So 1/1/1928-12/31/1942, 1929-1943, 1930-1944, etc. History obviously won't tell you everything, but looking...
by jeffp
Sun Aug 15, 2010 2:19 am
Forum: Investing - Theory, News & General
Topic: DFA Funds For "Free" — which are good?
Replies: 22
Views: 4974

If I still had DFA access, I would definitely buy some more international small value and emerging value. They have some great valuey foreign funds that are tougher to replicate with other funds than their domestic funds (which are great too).

I'm jealous of your free DFA access!
by jeffp
Fri Aug 13, 2010 8:44 am
Forum: Investing - Theory, News & General
Topic: Why speculate on doom and gloom?
Replies: 25
Views: 3844

Arby wrote:Which individual securities do you recommend for this scenario?
WEN (Wendy's Arby's Group Inc.)

In the event of the apocalypse, I want my last moments on Earth to involve roast beef sandwiches and curly fries.
by jeffp
Wed Aug 11, 2010 9:39 am
Forum: Investing - Theory, News & General
Topic: Japan, survivorship bias, and the myth of bogle investing
Replies: 72
Views: 10835

Hi Houston101, (1) The US is substantially more stable and economically productive than any other country in the world. Yes, and just like it is for anything else past and/or present is no guarantee for future. ( (2) The world is much different today than it was 75+ years ago. Hasn’t it been like th...
by jeffp
Tue Aug 10, 2010 1:10 pm
Forum: Investing - Theory, News & General
Topic: Japan, survivorship bias, and the myth of bogle investing
Replies: 72
Views: 10835

You raise some good points. Based on the thoroughness of your post it looks like you really know your history. That being said, I'm not following how you arrive at the conclusion of "clearly the Boglehead results DON'T work" based on the factors you cite. I understand that having the vast majority o...
by jeffp
Tue Aug 10, 2010 12:09 pm
Forum: Personal Consumer Issues
Topic: Listen to music while working? If so, what?
Replies: 46
Views: 6122

Re: Listen to music while working? If so, what?

A fairly recent discussion on NPR's Science Friday had me pay more attention to what I was listening to while I was at work. The topic was on the impossible toll that multi tasking takes on your mind, and that listening to music with words you can understand has a negative effect on your concentrat...
by jeffp
Thu Aug 05, 2010 1:45 pm
Forum: Investing - Theory, News & General
Topic: post-recession PE10
Replies: 20
Views: 3733

Re: post-recession PE10

The S&P 500 ended last month at 20.2 times average profits for the past decade, according to Shiller’s cyclically adjusted P/E ratio. The figure surpassed the average of 16.1 for the economy’s previous nine rebounds, as Hester wrote yesterday in a report. ... “The current subpar recovery should pro...
by jeffp
Thu Aug 05, 2010 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 6 Money Habits That Are Illegal
Replies: 45
Views: 7771

Nisiprius, that is rather exasperating. I suppose they're just thinking about CYA and decided not to let you edit bank notes at all. But they certainly could have made that link a lot more useful. On the other hand, I find it pretty cool that the software can recognize currency and generate that mes...
by jeffp
Thu Aug 05, 2010 10:55 am
Forum: Investing - Theory, News & General
Topic: What type of investor are you?
Replies: 34
Views: 5361

I buy and hold, but with a rather aggressive allocation because of my age (27). Currently I am 100% stocks, value-tilted, with about 45% small cap, 30% mid-cap, and 25% large cap. I do "rebalance," but only between lg/mid/sm and between US/foreign, since obviously I have no fixed income positions at...
by jeffp
Wed Aug 04, 2010 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: 6 Money Habits That Are Illegal
Replies: 45
Views: 7771

Just for fun, here's an article posted on Y! finance a couple years ago that some of you may remember, written by the great Robert Kiyosaki. This was the article that did it for me with Y! finance (before reading it I had never paid much attention to the site.) Playing the Mutual Fund Lottery Among ...
by jeffp
Wed Aug 04, 2010 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: 6 Money Habits That Are Illegal
Replies: 45
Views: 7771

5. Copying U.S. Currency Color printers, scanners and copiers make it surprisingly easy for just about anyone to replicate U.S. or foreign currency. But it is, in fact, illegal to print your own money and try to spend it to buy goods or services. http://icanhascheezburger.files.wordpress.com/2008/0...