Search found 9069 matches

by Rick Ferri
Tue Sep 29, 2020 7:38 pm
Forum: Investing - Theory, News & General
Topic: Morgan Housel is our latest "Bogleheads on Investing" podcast guest
Replies: 9
Views: 975

Re: Morgan Housel is our latest "Bogleheads on Investing" podcast guest

burritoLover wrote: Tue Sep 29, 2020 10:59 am Awesome - definitely will be listening!
I hope you enjoy it! :sharebeer
by Rick Ferri
Tue Sep 29, 2020 11:20 am
Forum: Investing - Theory, News & General
Topic: "A look back at the life of Vanguard's founder"
Replies: 19
Views: 1633

Re: "A look back at the life of Vanguard's founder"

abuss368 wrote: Tue Sep 29, 2020 10:54 am I hope this is not the beginning of Vanguard changing post Mr. Bogle!
Vanguard has been changing for a long time. You need to choose what parts of Vanguard to embrace and what parts to let pass.

Rick Ferri
by Rick Ferri
Tue Sep 29, 2020 10:32 am
Forum: Investing - Theory, News & General
Topic: Writer Morgan Housel will be our next "Bogleheads on Investing" podcast guest
Replies: 8
Views: 1323

Re: Writer Morgan Housel will be our next "Bogleheads on Investing" podcast guest

This preannouncement of an upcoming podcast asking for Boglehead input is CLOSED. Thank you for your input. See this direct link to the podcast: Episode 026: Morgan Housel, host Rick Ferri Here is the Bogleheads announcement and discussion: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=3266...
by Rick Ferri
Tue Sep 29, 2020 10:29 am
Forum: Investing - Theory, News & General
Topic: Morgan Housel is our latest "Bogleheads on Investing" podcast guest
Replies: 9
Views: 975

Morgan Housel is our latest "Bogleheads on Investing" podcast guest

Podcast Link: Morgan Housel: Bogleheads on Investing podcast guest Morgan Housel is an author of The Psychology of Money book and writes a blog as a partner at The Collaborative Fund . He is a former columnist at The Motley Fool and  The Wall Street Journal , a two-time winner of the Best in Busines...
by Rick Ferri
Tue Sep 29, 2020 10:08 am
Forum: Investing - Theory, News & General
Topic: "A look back at the life of Vanguard's founder"
Replies: 19
Views: 1633

Re: "A look back at the life of Vanguard's founder"

LarryCarell wrote: Tue Sep 29, 2020 10:07 am Thank you Taylor!
Rick, really waiting for your next podcast! I mean really! So sad it is just once a month, Ive listened to them all.

Thanks!
It is HERE!

Morgan Housel: Bogleheads on Investing podcast guest
by Rick Ferri
Tue Sep 29, 2020 9:18 am
Forum: Investing - Theory, News & General
Topic: "A look back at the life of Vanguard's founder"
Replies: 19
Views: 1633

Re: "A look back at the life of Vanguard's founder"

Thank you, Taylor. I love it all, except the picture of Tim Buckley at the bottom. Rick Ferri Rick - What is wrong with Mr. Buckley? :twisted: Tim Buckley's face was all over the Vanguard sign-in page until a few investors said, Enough already! Personally, Buckley told me to my face during the 2018...
by Rick Ferri
Sun Sep 27, 2020 9:40 am
Forum: Investing - Theory, News & General
Topic: "A look back at the life of Vanguard's founder"
Replies: 19
Views: 1633

Re: "A look back at the life of Vanguard's founder"

Thank you, Taylor.

I love it all, except the picture of Tim Buckley at the bottom.

Rick Ferri
by Rick Ferri
Sun Sep 27, 2020 9:32 am
Forum: Personal Investments
Topic: Guidance for breaking the news to our financial advisor
Replies: 60
Views: 5035

Re: Guidance for breaking the news to our financial advisor

I can speak from the other side as a former broker for ten years, and former AUM adviser for almost twenty years. 1) Advisers lose clients every year. That's part of the business. They won't take you leaving personally, although some might fake that they do. Clients leave for various reasons, the mo...
by Rick Ferri
Tue Sep 22, 2020 5:56 pm
Forum: Investing - Theory, News & General
Topic: Writer Morgan Housel will be our next "Bogleheads on Investing" podcast guest
Replies: 8
Views: 1323

Re: Writer Morgan Housel will be our next "Bogleheads on Investing" podcast guest

Morgan has been positively peripatetic...I have heard him on several podcasts! I guess that is how books are marketed now. Podcasts are definitely important marketing for authors. Morgan is an excellent writer who effortlessly weaves together story after story in his new book. This should be a fun ...
by Rick Ferri
Sun Sep 20, 2020 7:43 pm
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 114
Views: 8805

Re: AQR still singing the same song

I will create a thread next month where you can ask questions to Cliff Asness. Please do not ask your questions here. If you do, you will need to re-post them on the thread next month.

Thank you.
Rick Ferri
by Rick Ferri
Sun Sep 20, 2020 10:51 am
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 114
Views: 8805

Re: AQR still singing the same song

Cliff Asness agreed to be my November guest on the Bogleheads on Investing podcast. Bogleheads will be able to ask him intelligent questions that would benefit the community. I will post more next month. Rick Ferri Rick, This is a great idea. I think Mr.Asness should begin with an apology to all in...
by Rick Ferri
Sat Sep 19, 2020 8:38 am
Forum: Personal Investments
Topic: Portfolio Critique - mid 60s
Replies: 8
Views: 927

Re: Portfolio Critique - mid 60s

But if I do that, don't I give up the privilege of being able to set separate asset allocation targets for Developed and Emerging Markets?
And that's supposed to get you....what? ;-)
by Rick Ferri
Sat Sep 19, 2020 7:35 am
Forum: Personal Investments
Topic: Portfolio Critique - mid 60s
Replies: 8
Views: 927

Re: Portfolio Critique - mid 60s

Here are a few basic comments: 5.15% ITOT iShares Core S&P Total US Stock Market 5.13% IVV iShares Core S&P 500 ETF 5.16% IWV iShares Russell 3000 ETF 5.13% IYY iShares Dow Jones US ETF 5.14% SPY SPDR S&P 500 ETF Trust 5.13% VTI Vanguard Total Stock Market Index Fund Are you investing in all these f...
by Rick Ferri
Fri Sep 18, 2020 7:25 pm
Forum: Investing - Theory, News & General
Topic: AQR still singing the same song
Replies: 114
Views: 8805

Re: AQR still singing the same song

Cliff Asness agreed to be my November guest on the Bogleheads on Investing podcast. Bogleheads will be able to ask him intelligent questions that would benefit the community. I will post more next month.

Rick Ferri
by Rick Ferri
Thu Sep 17, 2020 8:13 am
Forum: Investing - Theory, News & General
Topic: Writer Morgan Housel will be our next "Bogleheads on Investing" podcast guest
Replies: 8
Views: 1323

Writer Morgan Housel will be our next "Bogleheads on Investing" podcast guest

Morgan Housel is our October guest on the Bogleheads on Investing podcast. Morgan is a former columnist at The Motley Fool and The Wall Street Journal . He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidn...
by Rick Ferri
Sat Sep 12, 2020 9:16 pm
Forum: Investing - Theory, News & General
Topic: International stock investing is industry diversification and style diversification
Replies: 92
Views: 6896

Re: International stock investing is industry diversification and style diversification

Rick, I believe you are overthinking this. If you believe in cap weighting, that should extend outside of US borders. Otherwise, why not parse the US market based upon sectors and reallocate your money in some way other than cap weighting? Or why not exclude stocks of companies west of the Mississi...
by Rick Ferri
Fri Sep 11, 2020 9:00 pm
Forum: Investing - Theory, News & General
Topic: International stock investing is industry diversification and style diversification
Replies: 92
Views: 6896

Re: International stock investing is industry diversification and style diversification

International stock investing is becoming more about diversifying industry groups and styles rather than diversifying currencies. Do a "Compare" of VTI and VXUS on the Vanguard website, scroll down to industry group comparisons, and you'll see what I mean. International stock represents many of the...
by Rick Ferri
Tue Sep 08, 2020 6:56 pm
Forum: Personal Consumer Issues
Topic: Buying Fine Art - advice needed.....
Replies: 65
Views: 3721

Re: Buying Fine Art - advice needed.....

When you buy art, you're supporting the artist. It's how they eat. But don't think for a second that it's an investment. It is not.

Rick Ferri
by Rick Ferri
Tue Sep 08, 2020 6:50 pm
Forum: Investing - Theory, News & General
Topic: International stock investing is industry diversification and style diversification
Replies: 92
Views: 6896

Re: International stock investing is industry diversification and style diversification

burritoLover wrote: Tue Sep 08, 2020 6:45 pm then what's an international value ETF - super-duper value investing?
Sure, why not!
by Rick Ferri
Tue Sep 08, 2020 5:38 pm
Forum: Investing - Theory, News & General
Topic: International stock investing is industry diversification and style diversification
Replies: 92
Views: 6896

International stock investing is industry diversification and style diversification

International stock investing is becoming more about diversifying industry groups and styles rather than diversifying currencies. Do a "Compare" of VTI and VXUS on the Vanguard website, scroll down to industry group comparisons, and you'll see what I mean. International stock represents many of the ...
by Rick Ferri
Thu Sep 03, 2020 12:24 pm
Forum: Personal Investments
Topic: Transitioning to a 3 Fund Portfolio
Replies: 7
Views: 536

Re: Transitioning to a 3 Fund Portfolio

sethmac wrote: Thu Sep 03, 2020 11:58 am Is there any strategy in how to do this...i.e. small moves vs just move it all at once?
No taxes involved. Move all at once.

Rick Ferri
by Rick Ferri
Wed Sep 02, 2020 11:57 am
Forum: Personal Investments
Topic: Portfolio Advice
Replies: 18
Views: 1499

Re: Portfolio Advice

I did not select it. I only pointed out this was only one of a few low-cost index funds in the Fidelity plan.
by Rick Ferri
Tue Sep 01, 2020 8:26 pm
Forum: Investing - Theory, News & General
Topic: Don Phillips, former M* CEO is our Bogleheads on Investing podcast guest
Replies: 11
Views: 1322

Re: Don Phillips, former M* CEO is our Bogleheads on Investing podcast guest

I heard Morgan Housel on The White Coat Investor, and I wonder whether you have ever considered interviewing him for the Bogleheads podcast. Morgan Housel is my next guest. We'll be discussing his upcoming book, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness Rick Ferri
by Rick Ferri
Tue Sep 01, 2020 8:00 pm
Forum: Personal Investments
Topic: Portfolio Advice
Replies: 18
Views: 1499

Re: Portfolio Advice

Get this down to four of five funds. That's all you need, and here is how you do it: Like must Fidelity-centric 401k plans, there is no total US stock market index fund. I'm not sure why they refuse to put one in 401k plans, probably because they want you to buy high-cost funds where they are paid m...
by Rick Ferri
Sun Aug 30, 2020 7:01 pm
Forum: Investing - Theory, News & General
Topic: Don Phillips, former M* CEO is our Bogleheads on Investing podcast guest
Replies: 11
Views: 1322

Don Phillips, former M* CEO is our Bogleheads on Investing podcast guest

This is a fast-moving, information-full podcast you won't want to miss. We cover everything from mutual funds to interest rates to cyber securities. Episode 025: Don Phillips, host Rick Ferri Don Phillips is the former CEO and a managing director of Morningstar, Inc. who remains involved in corporat...
by Rick Ferri
Sun Aug 23, 2020 8:47 am
Forum: Personal Investments
Topic: Sell me on a 401(k)
Replies: 43
Views: 2821

Re: Sell me on a 401(k)

Deferring income via a 401(k) is tax arbitrage. The idea is to pay less in taxes in the future on the same inflation-adjusted amount (or more) than you would pay today. This works well for high wage earners who will retire in a lower income bracket because they'll keep more money. It works especiall...
by Rick Ferri
Sat Aug 22, 2020 8:50 am
Forum: Investing - Theory, News & General
Topic: Rick Ferri's portfolio more in line in spirit with EW than market cap weighting?
Replies: 27
Views: 3887

Re: Rick Ferri's portfolio more in line in spirit with EW than market cap weighting?

Here are my targets for equity: 40% Total US 30% Total International 20% US Small Value 10% REITs Rick Ferri I’m comforted yet surprised to see this target allocation after gathering from various podcasts that you had changed to a standard Boglehead 3 fund portfolio. I guess it’s as you suggested: ...
by Rick Ferri
Fri Aug 21, 2020 9:53 am
Forum: Investing - Theory, News & General
Topic: Tilting to International
Replies: 178
Views: 14386

Re: Tilting to International

REITs cover lots of sectors of the market. Some will not do well, others will do very well. I'm not good at picking winners and losers.

Worse case, you get a 3% net-of-return of capital yield while you wait.

Rick Ferri
by Rick Ferri
Fri Aug 21, 2020 9:07 am
Forum: Investing - Theory, News & General
Topic: Tilting to International
Replies: 178
Views: 14386

Re: Tilting to International

Rick Ferri, Want to pick your brain again. :idea: With your core-4 you include a separate slice of your cake to REIT to make it more inline with the economy vs MKT. It seems both US and ex-US both have around 3% each in their total funds toward REIT. Would using a global REIT like REET or RWO make ...
by Rick Ferri
Thu Aug 20, 2020 8:09 pm
Forum: Investing - Theory, News & General
Topic: Tilting to International
Replies: 178
Views: 14386

Re: Tilting to International

The vanguard outlook has international outperforming U.S for the next 10 years, would it be worth tilting to international? Is anyone else doing this? International markets are composed of different industry weights than in the US. International stocks are manufacturing and industrials heavy while ...
by Rick Ferri
Tue Aug 18, 2020 7:43 pm
Forum: Personal Investments
Topic: Question About Corporate Bonds
Replies: 34
Views: 2016

Re: Question About Corporate Bonds

I guess my next thread will be trying to figure out what the heck preferred shares are and how to figure out what to do with those. Preferreds sit on a balance sheet between stocks and bonds. They have high dividend payments but don't appreciate like common stock. Many bank holding companies (Goldm...
by Rick Ferri
Tue Aug 18, 2020 7:04 pm
Forum: Personal Investments
Topic: Question About Corporate Bonds
Replies: 34
Views: 2016

Re: Question About Corporate Bonds

I concur with all the other comments. The bonds have high coupons and short call dates. They will likely be called because the companies can probably refinance at a lower interest rate. That's not guaranteed though. If you sell them now, you'll get a premium price, but I don't think you'll be able t...
by Rick Ferri
Mon Aug 17, 2020 9:34 pm
Forum: Investing - Theory, News & General
Topic: Rick Ferri's portfolio more in line in spirit with EW than market cap weighting?
Replies: 27
Views: 3887

Re: Rick Ferri's portfolio more in line in spirit with EW than market cap weighting?

Would you mind saying to what percentage of your equities you're holding the total international? Thanks. That is, of course, a hot topic of constant debate around here with anywhere from 0% to 60+% I've watched people argue over. Currently, it's 30%, but my target is one-third of common stock, not...
by Rick Ferri
Mon Aug 17, 2020 9:21 pm
Forum: Investing - Theory, News & General
Topic: Don Philips is my next "Bogleheads on Investing" guest
Replies: 2
Views: 480

Don Philips is my next "Bogleheads on Investing" guest

Don Phillips is a managing director of Morningstar, Inc. , responsible for corporate strategy, research, and corporate communications. He joined Morningstar in 1986 as the company’s first mutual fund analyst and soon became editor of its flagship publication, Morningstar Mutual Funds™, establishing ...
by Rick Ferri
Mon Aug 17, 2020 8:52 pm
Forum: Investing - Theory, News & General
Topic: Rick Ferri's portfolio more in line in spirit with EW than market cap weighting?
Replies: 27
Views: 3887

Re: Rick Ferri's portfolio more in line in spirit with EW than market cap weighting?

Some things work, others do not. I expected about a 0.5% extra benefit from the 40/40/20, but it turned out far less. As the data shows, the 40/40/20 portfolio did not perform meanfully better than the total internatonal fund. The small difference in return can be attributed to noise, but at least i...
by Rick Ferri
Sun Aug 16, 2020 9:05 pm
Forum: Investing - Theory, News & General
Topic: Evidence of Active Investing trailing Passive for Individuals
Replies: 62
Views: 4019

Re: Evidence of Active Investing trailing Passive for Individuals

000 wrote: Sun Aug 16, 2020 8:58 pm Ultimately, an individual can absolutely match or beat the index fund if (1) they have high discipline and (2) either value the time spent trading at zero or have an edge.
It is possible, but not probable.

Rick Ferri
by Rick Ferri
Sun Aug 16, 2020 9:04 pm
Forum: Investing - Theory, News & General
Topic: Investors Are Clinging to an Outdated Strategy — At the Worst Possible Time
Replies: 93
Views: 12150

Re: Investors Are Clinging to an Outdated Strategy — At the Worst Possible Time

I would not bet against a 60/40 portfolio over the long-term. That has never turned out well for investors who said it won't work going forward because this time is different.

Rick Ferri
by Rick Ferri
Sun Aug 16, 2020 8:45 pm
Forum: Investing - Theory, News & General
Topic: Evidence of Active Investing trailing Passive for Individuals
Replies: 62
Views: 4019

Re: Evidence of Active Investing trailing Passive for Individuals

The last time I read a thread like was at the peak of the tech bubble in 1999 when barbers were giving out free investment advice with each haircut. I have a very sad story about a barber I visited in my home down who was doing just that. He had some financial show on television in the barbershop, a...
by Rick Ferri
Sat Aug 15, 2020 3:52 pm
Forum: Investing - Theory, News & General
Topic: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!
Replies: 279
Views: 14864

Re: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!

I don't understand how a pension can offer a buyout for significantly less than what one could buy an equivalent deferred annuity for, but that's another topic. If you mean your monthly income is higher under a pension, I can think of two reasons. First, the pool of pension fund participants may be...
by Rick Ferri
Wed Aug 12, 2020 11:17 am
Forum: Investing - Theory, News & General
Topic: What is the big deal with RobinHood accounts???
Replies: 75
Views: 8030

Re: What is the big deal with RobinHood accounts???

When casinos closed due to Covid-19, millions of Robinhood accounts opened.

Rick Ferri
by Rick Ferri
Wed Aug 12, 2020 11:09 am
Forum: Personal Investments
Topic: RIRA --> 401K to facilitate Backdoor Roth IRA conversion??
Replies: 14
Views: 928

Re: RIRA --> 401K to facilitate Backdoor Roth IRA conversion??

Fido usually offers mid-small-cap index funds as part of their option. You could create a reasonable total market index with 80% S&P 500 and 20% Mid-Small-cap. Rick Ferri Hi Rick! My employer's plan offers both VANG MIDCAP IDX INST (VMCIX) & VANG SM CAP IDX INST (VSCIX). Great. Then you can use 80%...
by Rick Ferri
Wed Aug 12, 2020 11:07 am
Forum: Investing - Theory, News & General
Topic: Question on the 3 Fund Theory
Replies: 3
Views: 514

Re: Question on the 3 Fund Theory

Because it's a global economy. We don't make much of what we consume anymore. Accordingly, the industries that dominate the US market are not the same industries that dominate the international market. Do a "Compare" of VTI and VXUS. Look at the large difference in valuation and industry weights. Wh...
by Rick Ferri
Tue Aug 11, 2020 8:25 pm
Forum: Personal Investments
Topic: RIRA --> 401K to facilitate Backdoor Roth IRA conversion??
Replies: 14
Views: 928

Re: RIRA --> 401K to facilitate Backdoor Roth IRA conversion??

Fido usually offers mid-small-cap index funds as part of their option. You could create a reasonable total market index with 80% S&P 500 and 20% Mid-Small-cap.

Rick Ferri
by Rick Ferri
Fri Aug 07, 2020 3:03 pm
Forum: Investing - Theory, News & General
Topic: Malkiel: Preferred and High-Dividend Stocks are "Bond Substitutes"
Replies: 36
Views: 2991

Re: Malkiel: Preferred and High-Dividend Stocks are "Bond Substitutes"

Most issuers of preferred stocks are large money center banks that are under the scrutiny of federal regulators. Many banks cannot issue more debt because that could put them in the doghouse with the Fed, and they don't want to issue stock because that dilutes shareholder value. The compromise is pr...
by Rick Ferri
Wed Aug 05, 2020 10:43 am
Forum: Investing - Theory, News & General
Topic: Is the average investor really the average dollar invested?
Replies: 17
Views: 1136

Re: Is the average investor really the average dollar invested?

This hypothetical person only exists in theory.

There is no such thing as the average investor.

There is only you, me, and everyone else who invests, and not one of us is average.

Rick Ferri
by Rick Ferri
Tue Aug 04, 2020 8:47 am
Forum: Investing - Theory, News & General
Topic: Managing a Passive Index Fund is an Active Activity
Replies: 1
Views: 634

Managing a Passive Index Fund is an Active Activity

We often take for granted that an index fund will track an index because that's the fund's objective. But market conditions and liquidity often make that job difficult as fund managers attempt to turn theoretical indices into actual investment portfolios. Sanjay Arya is Morningstar's head of index p...
by Rick Ferri
Mon Aug 03, 2020 9:37 pm
Forum: Investing - Theory, News & General
Topic: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!
Replies: 279
Views: 14864

Re: Dr. Wade Pfau is my guest on the "Bogleheads on Investing" podcast!

A lot of the information in the podcast can be used by people who have a choice of a pension lump-sum distribution or taking an annuity. Exxon-Mobil employees are going through this now as the company cuts back. Many employees who have worked for XOM for more than 30-years can take $1.5 mm lump sum,...