Search found 8688 matches

by Rick Ferri
Wed Jun 19, 2019 9:56 am
Forum: Investing - Theory, News & General
Topic: "Bogleheads on Investing" podcast hits milestone
Replies: 17
Views: 1602

Re: "Bogleheads on Investing" podcast hits milestone

wanted to ask you if there was any way we can get David Swensen in a future podcast?
I’ve had many requests for many guests. All in due time!

Rick Ferri
by Rick Ferri
Mon Jun 17, 2019 9:17 pm
Forum: Investing - Theory, News & General
Topic: "Bogleheads on Investing" podcast hits milestone
Replies: 17
Views: 1602

Re: "Bogleheads on Investing" podcast hits milestone

columbia wrote:
Mon Jun 17, 2019 8:26 pm
Presumably this includes streams through various outlets. (I never technically download anything through the iPhone podcast app.)
Yes, all downloads from all sources.

Thanks, everyone!

Rick
by Rick Ferri
Mon Jun 17, 2019 9:38 am
Forum: Investing - Theory, News & General
Topic: "Bogleheads on Investing" podcast hits milestone
Replies: 17
Views: 1602

"Bogleheads on Investing" podcast hits milestone

The Bogleheads on Investing podcast began last September with our mentor, Jack Bogle as the inaugural guest. Today, we hit a milestone: 100,000 DOWNLOADS worldwide! Thank you for your support! Here are links to all episodes: Sep. 2018: John Bogle Oct. 2018: David Blitzer Nov. 2018: Jonathan Clements...
by Rick Ferri
Sun Jun 16, 2019 7:46 pm
Forum: Investing - Theory, News & General
Topic: Question about SPIVA and active vrs passive metrics
Replies: 11
Views: 427

Re: Question about SPIVA and active vrs passive metrics

Most active funds with low fees are closet index funds. The few that have activeshare have a better chance to outperform, but it's still less than 50-50.

Rick Ferri
by Rick Ferri
Sun Jun 16, 2019 7:34 pm
Forum: Investing - Theory, News & General
Topic: Question about SPIVA and active vrs passive metrics
Replies: 11
Views: 427

Re: Question about SPIVA and active vrs passive metrics

It does not include any sales load (commission) to buy an active fund. If it did, the numbers for active funds would be worse.

Rick Ferri
by Rick Ferri
Thu Jun 13, 2019 6:43 pm
Forum: Investing - Theory, News & General
Topic: The Case Against ETFs
Replies: 193
Views: 8660

Re: The Case Against ETFs

A Case Against the ETF 1) Behavior: The ETF was designed to trade. It's in the name and it's in the numbers. Doesn't affect me. I don't trade. 2) Inefficiency: Suppose you invest set amount from your biweekly paycheck. You invest in an SP500 index fund. If you choose a mutual fund, you can put all ...
by Rick Ferri
Wed Jun 12, 2019 8:10 am
Forum: Personal Investments
Topic: Paul Merriman UBH vs Vanguard Mkt Cap model
Replies: 22
Views: 1787

Re: Paul Merriman UBH vs Vanguard Mkt Cap model

If you DIY, you should KIS.

:)
by Rick Ferri
Mon Jun 10, 2019 8:43 am
Forum: Personal Investments
Topic: Does an Advisors AUM fee also include assets in your 401k that they advise on?
Replies: 24
Views: 2074

Re: Does an Advisors AUM fee also include assets in your 401k that they advise on?

I have a business partner who signed up to work with an advisor who charges him a 0.75% of his NET WORTH. That $50k car he bought costs him an extra $375 just for owning it... Add $50,000 car minus $50,000 cash or new $50,000 car loan = $0 change in net worth. There are wealth managers who will ove...
by Rick Ferri
Fri Jun 07, 2019 6:24 pm
Forum: Investing - Theory, News & General
Topic: Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell
Replies: 9
Views: 974

Re: Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell

indexlover wrote:
Fri Jun 07, 2019 4:45 pm
Any idea when transcript of the podcast will be made available in the future ?
When we have a volunteer to do it.

Rick Ferri
by Rick Ferri
Fri Jun 07, 2019 11:44 am
Forum: Investing - Theory, News & General
Topic: Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell
Replies: 9
Views: 974

Re: Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell

I think Mr. Ferri gave out more information than his guest. I'm not sure why the journalist made a documentary and why he was surprised that it didn't do well. Sorry, Mr. Ferri, didn't make it until the end. Then you missed out. My second guest, Debbie Fuhr, is world’s leading ETF analyst and had p...
by Rick Ferri
Thu Jun 06, 2019 9:07 pm
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Food for thought.

Here is what Fama and French really say about Smart Beta:

Smart Beta is Silly Talk

If you're going to go this route, and I'm not saying you should are shouldn't, but if you do, know what this is, know the cost, and know the risk.

Rick Ferri
by Rick Ferri
Thu Jun 06, 2019 8:51 pm
Forum: Investing - Theory, News & General
Topic: Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell
Replies: 9
Views: 974

Re: Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell

This is a very informative podcast. Listen through til the end. I guarantee you will learn a lot!

Rick Ferri
by Rick Ferri
Thu Jun 06, 2019 3:57 pm
Forum: Investing - Theory, News & General
Topic: Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell
Replies: 9
Views: 974

Episode 010: Bogleheads on Investing - guests Debbie Fuhr and Robin Powell

Each month on the Bogleheads on Investing podcast , I interview a special guest on a specific topic of interest to like-minded Bogleheads. Debbie Fuhr and Robin Powell are my guests on Episode 10 . Our focus is on the global growth of index investing and ETFs. Debbie is the Managing Partner & Founde...
by Rick Ferri
Wed Jun 05, 2019 7:23 pm
Forum: Personal Investments
Topic: Does an Advisors AUM fee also include assets in your 401k that they advise on?
Replies: 24
Views: 2074

Re: Does an Advisors AUM fee also include assets in your 401k that they advise on?

It is perfectly fine for an adviser to charge AUM fees on non-discretionary assets under advisement such as 401(k). The rules are it has to be disclosed in the investment management agreement the client signs and authorized under the adviser's ADV filing.

Rick Ferri
by Rick Ferri
Wed Jun 05, 2019 11:39 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

Great piece Rick! Re:” I looked up the adviser’s regulatory filing to find out how he gets paid” I looked up my father in law’s financial advisor’s Investment Advisor Representative Public Disclsure Report via the SEC website. I do not see in the report any info on how he gets paid. (i.e how much o...
by Rick Ferri
Wed Jun 05, 2019 9:51 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

I have a new term... Dazzled with data It's how some people sell sophisticated investment strategies that result in ongoing fees to their advisory firm. Clearly you're on a soapbox today and enjoying it. Just let's not forget that the path to disaster has often started with seven simple words: "It'...
by Rick Ferri
Wed Jun 05, 2019 9:23 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

I have a new term...

Dazzled with data

It's how some people sell sophisticated investment strategies that result in ongoing fees to their advisory firm.

:D
by Rick Ferri
Wed Jun 05, 2019 7:49 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Wow! All this is needed to explain why someone would invest in factors? :shock: This conversation is exactly why I advocate for simplicity. Unless you know this stuff cold and are 100% committed, it's not going to stick, and if you bail, you going to wish you never went down this path. Rick Ferri A...
by Rick Ferri
Tue Jun 04, 2019 8:41 pm
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Wow! All this is needed to explain why someone would invest in factors? :shock: This conversation is exactly why I advocate for simplicity. Unless you know this stuff cold and are 100% committed, it's not going to stick, and if you bail, you going to wish you never went down this path.

Rick Ferri
by Rick Ferri
Tue Jun 04, 2019 6:27 pm
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Complexity is the third stage in the education of an index investor;
Simplicity is the fourth and final stage.

Rick Ferri
by Rick Ferri
Tue Jun 04, 2019 9:53 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

What a con artist! Somebody needs to wear a wire to a dinner, record his lies and take it to the appropriate authorities. Has any crime been committed? No, no crime has been committed and the authorities would not do anything even if their comments were recorded. I am not defending these salespeopl...
by Rick Ferri
Tue Jun 04, 2019 9:50 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 1763
Views: 278006

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Is there a website or Wiki page that keeps current on brokerage transfer bonuses?

Rick Ferri
by Rick Ferri
Tue Jun 04, 2019 8:13 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

All the other guests were engaged in the presentation and everyone signed up for a meeting except for us. Several people said "that's terrible!" every time the adviser claimed a grandmother would not be able to see her grandchildren because of poor investment performance.

Rick Ferri
by Rick Ferri
Mon Jun 03, 2019 9:01 pm
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

unclescrooge wrote:
Mon Jun 03, 2019 6:51 pm

Thanks for sharing. :beer

Out of curiosity, whenever you presented, what topics did you cover?
Did you cover the same topics without the scare tactics or did you talk about different ones?
I usually discussed topics in my books.

Rick Ferri
by Rick Ferri
Mon Jun 03, 2019 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Foreign Tax Credit Limitation Explained
Replies: 12
Views: 928

Re: Foreign Tax Credit Limitation Explained

It is complicated but still worth holding foreign stocks in a taxable account because we get SOME credit. Having foreign stocks in a tax-sheltered account amounts to $0 credit. The caveat is if you pay someone else to do the calculation. Then the cost might be higher than the credit, so don't claim ...
by Rick Ferri
Mon Jun 03, 2019 8:11 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

260chrisb wrote:
Mon Jun 03, 2019 7:56 am
Rick; thanks for posting this. So, how was dinner??
Almost worth the pain of listening to this guy.

:D
by Rick Ferri
Mon Jun 03, 2019 7:50 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

niceguy7376 wrote:
Mon Jun 03, 2019 7:40 am
Rick,
I hope that you dont need to move to "Desert" from this 55+ retirement community because of people like these financial advisors.

A small spelling mistake that the proof readers missed - "Desert would have to wait - darn! "
:oops:

Fixed. Thanks!
by Rick Ferri
Mon Jun 03, 2019 6:43 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

. . . I was so excited! It was our first "free dinner and retirement discussion" since moving into an over 55 community last summer . . . . THIS boggled me - Rick, you're not old enough to move into an over 55 community with old retired folks :shock: It was the pickleball courts that got me. :D Ric...
by Rick Ferri
Sun Jun 02, 2019 9:51 pm
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

You May Never See Your Grandchildren Again

From my Forbes blog: You May Never See Your Grandchildren Again I was so excited! It was our first "free dinner and retirement discussion" since moving into an over 55 community last summer. Let me sum up what I heard this adviser say: Be very afraid. Advisers manage money badly, Social Security peo...
by Rick Ferri
Sun Jun 02, 2019 8:04 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Random Walker wrote:
Sat Jun 01, 2019 9:06 am
Hi Rick,
I have a question. I your argument that factor premia may be diminished or eradicated. Do you also think their correlations with the market will rise too? Thanks,

Dave
Sounds plausible, but I don't know - no one knows. We've never been here before.

Rick Ferri
by Rick Ferri
Sun Jun 02, 2019 7:59 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Rick - Do you not use any DFA funds any longer? Are you all total market index funds? I'm an hourly advice-only adviser now. I'm not in the business of "selling complexity" or "exclusive fund access" as a way to get business and make clients dependent on my services. When a client comes to me today...
by Rick Ferri
Sat Jun 01, 2019 8:44 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

There are three parts to successful investing: Philosophy - Strategy - Discipline This conversation is about strategy and discipline. It is not about philosophy. Philosophy Philosophy is an investor’s underlying core belief about how markets work and how to best invest in them. The two main philosop...
by Rick Ferri
Sat Jun 01, 2019 8:31 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Rick, what evidence do you have that Value is a crowded factor? What evidence is there that Size is a crowded factor? I understand. You want me to point to statistical evidence that's anchored in past to PROVE that this is a crowded trade today. That evidence cannot be generated because the ocean l...
by Rick Ferri
Sat Jun 01, 2019 7:42 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Years ago, only a few people understood factors and they became successful active managers by taking advantage of plentiful opportunities and large spreads. Today, there are hundreds of funds, ETFs, and other ways to place these same bets for the masses, and this has driven down the cost of the bet,...
by Rick Ferri
Wed May 29, 2019 9:44 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Every investment adviser thinks they're above average.

Every investment adviser charges what they believe is a bargain for their astute advice and services.

Every investment adviser says they add-value to a client's financial well-being.

Very few advisers do.
by Rick Ferri
Wed May 29, 2019 9:26 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

I'm not saying this is what you should or shouldn't do, I'm saying there are much bigger things to do as an investor than chase factors, like save more, keep fees low (especially any adviser fees), and be diligent on tax reduction strategies. Rick Ferri False dichotomy. Does anyone that participate...
by Rick Ferri
Wed May 29, 2019 9:07 am
Forum: Investing - Theory, News & General
Topic: "Bogleheads on Investing" podcast stats and guests
Replies: 17
Views: 2080

Re: "Bogleheads on Investing" podcast stats and guests

Rick: Any chance of a dedicated Twitter just for the podcast? I've got your personal Twitter feed in my podcast(s) list but I'd like to see one just for the show in case I need to retweet. Not in the works at the moment. Mel has the Twitter handle @Bogleheads but doesn't use it. I'll see if he want...
by Rick Ferri
Tue May 28, 2019 1:26 pm
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

...and the past always predicts the future. No. Looking backward has never helped investors predict if premiums will occur or when they will occur. We can only pay the rent and hope they show up in enough quantity to a least cover that rent. I'm not saying this is what you should or shouldn't do, I'...
by Rick Ferri
Tue May 28, 2019 12:48 pm
Forum: Investing - Theory, News & General
Topic: "Bogleheads on Investing" podcast stats and guests
Replies: 17
Views: 2080

Re: "Bogleheads on Investing" podcast stats and guests

Rick: Any chance of a dedicated Twitter just for the podcast? I've got your personal Twitter feed in my podcast(s) list but I'd like to see one just for the show in case I need to retweet. Not in the works at the moment. Mel has the Twitter handle @Bogleheads but doesn't use it. I'll see if he want...
by Rick Ferri
Tue May 28, 2019 12:42 pm
Forum: Personal Investments
Topic: Optimizing Asset Allocation
Replies: 15
Views: 1505

Re: Optimizing Asset Allocation

If you want to throw in a little REITs or small-cap value for spice, that's fine. Rick Ferri Hi Rick, do you realize how much consternation is created and how many threads are started by that innocuous little comment? Even Mr. Bogle is a bit player with his 5% gold compared to the above. Why? Does ...
by Rick Ferri
Tue May 28, 2019 8:32 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Cheaper fees are not better fees when investing to beat the market. If you invest in factor funds, you're buying tracking error, so you want the greatest tracking error for the cost. This is determined using a cost per unit of risk equation. Same thing with active management. You want the highest ac...
by Rick Ferri
Tue May 28, 2019 8:23 am
Forum: Personal Investments
Topic: Optimizing Asset Allocation
Replies: 15
Views: 1505

Re: Optimizing Asset Allocation

Way too complex. Use a total stock market US, total stock market international, one bond fund and you're done. If you want to throw in a little REITs or small-cap value for spice, that's fine. BTW, there is no such thing as investing using optimal asset allocation. Any adviser who uses that phrase s...
by Rick Ferri
Tue May 28, 2019 8:17 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

The weak money is pretty much already gone. People who manage factor funds would disagree. Wes Gray was my last guest on Bogleheads on Investing . Wes earned a Ph.D. in finance under Gene Fama at the University of Chicago's Booth School of Business. Toward the end of the interview, we discuss facto...
by Rick Ferri
Tue May 28, 2019 7:52 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Your allocation between stocks and bonds is the cake, everything else is the icing on the cake, and avoid an infatuation with brightly light candles because they are quickly extinguished and thrown away. Rick Ferri Only if the factor claims are untrue, or much less true than they claim. RW/Larry kn...
by Rick Ferri
Tue May 28, 2019 7:28 am
Forum: Investing - Theory, News & General
Topic: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run
Replies: 337
Views: 17618

Re: Excellent Larry Swedroe Podcast Interview: Factors For The Long Run

Your allocation between stocks and bonds is the cake, everything else is the icing on the cake, and avoid an infatuation with brightly light candles because they are quickly extinguished and thrown away.

Rick Ferri
by Rick Ferri
Tue May 28, 2019 7:18 am
Forum: Investing - Theory, News & General
Topic: What goes wrong after index enlightenment
Replies: 41
Views: 5236

Re: What goes wrong after index enlightenment

UpperNwGuy wrote:
Tue May 28, 2019 7:09 am
Rick: Is there a reason that you didn't mention tax exempt bond funds as a tax management strategy?
No reason. Tax-exempt bond funds are a good choice for investors who are in a high tax bracket.

Rick Ferri
by Rick Ferri
Tue May 28, 2019 7:16 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Home Country Bias Ubiquitous
Replies: 37
Views: 4517

Re: Larry Swedroe: Home Country Bias Ubiquitous

Having a home country bias makes sense because our liabilities are paid in local currency. An alternative is to invest away from one's home country and hedge currencies back into local currency. It's expensive to do this but it does give an investor more diversification. I don't find this necessary ...
by Rick Ferri
Mon May 27, 2019 7:26 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Factors Are For Holding
Replies: 26
Views: 2025

Re: Larry Swedroe: Factors Are For Holding

Beta is the market factor. Investing in "additional factors" like value, quality, momentum, and size has to be a life-long investment strategy. These elusive creatures will disappoint you time and again, and you'll have to pay money year after year for the lousy performance. Eventually, they might p...
by Rick Ferri
Mon May 27, 2019 6:21 pm
Forum: Investing - Theory, News & General
Topic: What goes wrong after index enlightenment
Replies: 41
Views: 5236

Re: What goes wrong after index enlightenment

Some people are saying not to put foreign stock index funds in a taxable account because it requires some extra work at tax time to claim the tax credit - a straight reduction in federal taxes owned - and instead they recommend foreign stock funds in tax-deferred accounts, where you don't get the ta...
by Rick Ferri
Mon May 27, 2019 3:42 pm
Forum: Investing - Theory, News & General
Topic: What goes wrong after index enlightenment
Replies: 41
Views: 5236

Re: What goes wrong after index enlightenment

Here are a few modern concepts for tax management: 1. In a taxable account, only buy equity funds that you're willing to hold onto forever, i.e. US total stock market index and total international index. 2. Use ETFs in a taxable account if you're not using Vanguard index funds because ETFs are more ...