Search found 240 matches

by BigOil
Sat Jan 21, 2023 2:04 pm
Forum: Personal Investments
Topic: Seeking Advice and Opinion on some Mutual Funds
Replies: 15
Views: 1436

Re: Seeking Advice and Opinion on some Mutual Funds

I'm pretty ignorant of these things. We don't even know your age! Anyway, you are fortunate to have come here. I'm addition to the money market fund as a very temporary home for your money, you should learn more. Consider the free Bernstein booklet linked here as the first thing to read: https://www.bogleheads.org/forum/viewtopic.php?t=138576 It’s been a while since I looked here. Wow, same questions different day. Please do this we just don’t have enough information. Financial management is MUCH more than just a windfall— but it is ‘merica —you do you. Chances are if you hang around here you won’t be doing stupid stuff supporting BROKERS or INSURANCE AGENTS- not sellin insurance lol, makin boat payments and vacation homes There is tactica...
by BigOil
Sat Jan 15, 2022 2:00 pm
Forum: Investing - Theory, News & General
Topic: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)
Replies: 55
Views: 3842

Re: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)

chipperd wrote: Sat Jan 15, 2022 1:52 pm ....
At this point the CDA is clearly a different product and might be OK as it develops
Your opinion, not mine. Each to his/her own in this regard. Topic seems to have run it's course
100% AGREE LOL
Oh your tagline from Bill Bernstein is AWESOME (as is Bill...who I was able to meet at BH pre-covid :( )
by BigOil
Sat Jan 15, 2022 1:56 pm
Forum: Investing - Theory, News & General
Topic: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)
Replies: 55
Views: 3842

Re: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)

Stinky wrote: Sat Jan 15, 2022 1:46 pm
BigOil wrote: Sat Jan 15, 2022 1:36 pm
More insurance hate...
I sure don’t hate insurance. Heck, it put food on my table and put my kids through college. :)

What I do hate is high priced, high commission insurance that delivers low consumer value. And whole life and this CDA product both belong in that category.
Again that's not a logical mathematical or fiduciary-based advice argument as much as, justified caution and concern, over a new fiduciary-sold product (the CDA)

I hear ya tho' :D
Literally behind me on my desk, are *offers for two different "FREE" steak dinners* for Brokers/FAs that (post google fu) I know are selling (WL or index) annuities as a big part or all of their offer to appease our fears of the unknown... so yeah
by BigOil
Sat Jan 15, 2022 1:44 pm
Forum: Investing - Theory, News & General
Topic: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)
Replies: 55
Views: 3842

Re: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)

Nate79 wrote: Sat Jan 15, 2022 1:10 pm When so called research is paid for/sponsored by the insurance industry, promotes horrible and expensive insurance products, and needs to cook the books by using bad assumptions like high fees to make a point you get called out for it on Bogleheads. Don't expect Bogleheads to put up with this junk.
Ad hominem..."cook the books" ... more (deserved) WL hate

the issue is SOR ... and can insurance annuities solve
they can if priced right etc...

But as I said, I for one will not defend WL a pragmatically acceptable tool as currently sold, priced and marketed...for SOR
At this point the CDA is clearly a different product and might be OK as it develops
by BigOil
Sat Jan 15, 2022 1:36 pm
Forum: Investing - Theory, News & General
Topic: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)
Replies: 55
Views: 3842

Re: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)

Buying insurance products does not solve behavioral problems. Again with WL for instance where the stats are well known, over 85% surrender. So if you think buying this will protect against such behavior you should look at why the insurance industry has requirements to avoid churning. That was not the intended observation. Particularly for WL. No one advocating for WL alone. Using a fiduciary advisor with CDA wrapper should optimize spending behavior that in waning years to large degree. And is to me MUCH better than WL with a non-fiduciary advisor. To be clear it's a matter of speed bumps on growing old and maging payouts. And estate planning. That is the definitive answer to elderly financial behavior extremes. More insurance hate...they...
by BigOil
Sat Jan 15, 2022 12:51 pm
Forum: Investing - Theory, News & General
Topic: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)
Replies: 55
Views: 3842

Re: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)

Holy crap what a bunch of ad hominem attacks on Wade . He is a nerdy academic-ish guy IMO ... Which I think he would admit. Man there's a lot of insurance hate. What a bunch of cheapskates we Bogleheads are...that might be a complement LOL... THANKS TO ALL WHO POSTED !!! Sooo now for me: Bogleheads would not overpay...CDA is not aimed at us if we get to 96 and are as sharp at Taylor !!! But I can totally see me around mid-70ish God-willing(!)... Looking at this for some of our nest egg. Of a deferred fixed annuity. For a portion. Flexible spending for a lot of us will cover the early years. BUT My family has a history of old people doing stupid or hopefully just materially sub optimal stuff with retirement money. Have you ever tried to exp...
by BigOil
Thu Jan 06, 2022 8:41 am
Forum: Investing - Theory, News & General
Topic: ??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)
Replies: 55
Views: 3842

??? Pfau-endorsed: "Constance(SM) group contingent deferred annuity (CDA)

This is apparently a relatively recent product introduction in a category that has been difficult to sell something like it before. There's apparently some pretty smart people say is worth the money and useful in some situations. TLDR- it's an Annuity to keep you from running out of money in your investment account during drawdown. All while keeping your money with a fiduciary and in the market in non-insurance accounts! Without the hocus-pocus of Indexed universal life insurance's bull crap, costs, insurers effective total control of investment "cash"(not BS accounts) end-results, and effectively total opacity to mortals. https://www.midlandnational.com/documents/35453/65313/33428Y+-+Constance+brochure.pdf/55ad9e54-0011-b88a-49c4...
by BigOil
Sat Jul 17, 2021 11:56 am
Forum: Investing - Theory, News & General
Topic: What Are People Doing with their Oil and Natural Gas Stocks
Replies: 105
Views: 13492

Re: What Are People Doing with their Oil and Natural Gas Stocks

Sort of an insider here… At least until I retired. Agree most with, though I would NOT bet on depletion rates at all: “So it's really a 2030+ story rather than now til then. So the question is does the market fully discount that possibility of falling demand post 2030? My gut is that as conventional oil fields deplete at 4-8% of production pa (fall), it's getting harder and more expensive to replace that oil - at a time when for the time being demand is likely to keep rising. That underpins the reserves of current oil producers. So they are well positioned. I think it would be a mistake to avoid that part of the market that is accounted for by oil & gas companies. The principle of indexation to the market as a whole still rules. Let the...
by BigOil
Fri Apr 02, 2021 12:06 pm
Forum: Investing - Theory, News & General
Topic: nextdoor referral for "financial advisor" makes sad Boglehead
Replies: 39
Views: 5392

Re: nextdoor referral for "financial advisor" makes sad Boglehead

Scooter57 wrote: Fri Apr 02, 2021 11:43 am Judging from what I have observed, there are a lot of people who will do a lot better with any non-commission-paid advisors than they will on their own ...

Beyond that, though, it's none of your business.
Yep I agree.

And to be clear this observation is ONLY for those who ask. In a general forum or way. Or think they are asking individually(rare albeit).
Totally "nonya" area for sure on an individual level.

[Though there are some individual public policy matters in this area that are *not suitable for BH*.]
by BigOil
Fri Apr 02, 2021 11:36 am
Forum: Investing - Theory, News & General
Topic: nextdoor referral for "financial advisor" makes sad Boglehead
Replies: 39
Views: 5392

nextdoor referral for "financial advisor" makes sad Boglehead

So someone genuinely asked for a referral for a "Financial Advisor" to help with investing in our area's nextdoor app feed. The nextdoor app is an occasionally useful, often funny kind of "hyper-localized" twitter for Boomers, the limited computer literate sometimes, and yes regular neighbors too (for those saying "OK Boomer" (see Jenn Takahashi's "Best of" feed LOL) Sooooo I occasionally have participated, ignoring the drama and ignorance on it. It definitely has some self promotion as well. But is sometimes useful... I responded with a (I believe) thoughtful, fairly short post: there are a lot of "FA's", the "investing" is pretty easy --- if evidence and academics are used, watch...
by BigOil
Sun Jun 21, 2020 11:54 am
Forum: Personal Investments
Topic: Oil Company Investment
Replies: 22
Views: 2358

Re: Oil Company Investment

:wink:
by BigOil
Fri Jun 19, 2020 1:16 pm
Forum: Personal Investments
Topic: Oil Company Investment
Replies: 22
Views: 2358

Re: Oil Company Investment

Something to understand about shale: In the old days (pre shale), wildcatters were looking for bonanzas, where one well would produce for many years. It was high risk high reward- a lottery ticket. With shale, it’s all about operational efficiency. The wells have steep decline rates and you need to constantly drill to keep up production. But you also need a decent amount of rock and a big budget to find peak efficiency. The big players are always working to hit the bulls eye with regard to well spacing and location. Small players can’t really compete in that efficiency game with public companies that can spend hundreds of millions streamlining their process and have significant bargaining power with suppliers. Large players can also withst...
by BigOil
Fri Jun 19, 2020 12:55 pm
Forum: Investing - Theory, News & General
Topic: Should Vanguard offer a CMA/Service ?
Replies: 55
Views: 4987

Re: Should Vanguard offer a CMA/Service ?

FIREchief wrote: Sat May 16, 2020 12:35 pm
BigOil wrote: Thu May 14, 2020 3:17 pm Should Vanguard have CMA stuffs, and how or why should a Vanguard CMA be different than those offered by other firms.
What are "CMA stuffs?"
all of the "features" and "enhancements" other the basics (checking and ATM + billpay?)
"A CMA product is probably a costly product. I can imagine lots of customer issues with checks, bill payment, stop pays, debit cards, ATMS, 24/7 service,etc." affinity products, etc.
by BigOil
Fri Jun 19, 2020 12:50 pm
Forum: Investing - Theory, News & General
Topic: Should Vanguard offer a CMA/Service ?
Replies: 55
Views: 4987

Re: Should Vanguard offer a CMA/Service ?

There was a very large thread about it https://www.bogleheads.org/forum/viewtopic.php?t=274303&start=250#top . I agree with Bill Bernstein- it should be an option for those that want it even if it carries a fee for the convenience- or require them to be clients of their advisory services to defray the costs of operating it. This would be good. Bill is one of the best and well-rounded minds around here. I am guessin' CMA resurrection is under serious discussions in Malverne. To me it's more than a tactical decision to offer CMAs --- it's about what degree Vanguard wants to be something different, & Vanguard's obligation to not (overly past startup) cross-subsidize businesses --- add costs onto unrelated business lines. And if the co...
by BigOil
Thu May 14, 2020 3:17 pm
Forum: Investing - Theory, News & General
Topic: Should Vanguard offer a CMA/Service ?
Replies: 55
Views: 4987

Should Vanguard offer a CMA/Service ?

Kind of curious about the collective wisdom of Bogleheads on this. I hear Fidelity has a decent CMA. Should Vanguard have CMA stuffs, and how or why should a Vanguard CMA be different than those offered by other firms . I've always kind of thought these CMA things were "loss leaders" to sell expensive mutual funds and other stuff that is costly and of little academic investing value (individual bonds, other boutique product crap that makes owners feel smarter than the market, etc...). Mutual-owned, as Vanguard is of sorts, is sort of a fiduciary to current account holders, Vanguard should not do a "loss leader product" (CMA???) without high margin things to sell...Vanguard has NONE. Otherwise it's long-term cost "we...
by BigOil
Sat May 04, 2019 12:15 pm
Forum: Personal Investments
Topic: Oil Company Investment
Replies: 22
Views: 2358

Re: Oil Company Investment

If you've got a reasonable cap on your investment such as no more than 5% of your portfolio then it could be a worthwhile investment. Things to consider are how liquid your investment would be and whether the investment is structured to fairly reward risk. There are plenty of real estate investment deals where the the investor carries most of the risk yet the developer reaps most of the reward. That wouldn't make such a great investment. This is typical of most PE-type "accredited investor" deals as well as these oil things... risk-reward is not there, and because some investors "win or win some" people tend think it was a good decision ex-ante. Idiosyncratic risks are VERY hard to assess especially as a non-insider. Bu...
by BigOil
Sat Feb 02, 2019 6:51 am
Forum: Personal Investments
Topic: Making a 3.8 million deposit
Replies: 96
Views: 12822

Re: Making a 3.8 million deposit

FIDELITY in may experience has good customer service, but you "pay" by then selling stuff and services the Johnson Family (owners) wants you to have to make them money! They have lower cost stuff but they do not pimp it...gotta ask. Caveat: There are far worse choices than Fidelity (much MUCH worse); if my Mom used then I would be grateful relative to her current Advi$or. Vanguard is better, much better, much much better as a fiduciary; but VG customer service is kinda uneasy at times but they do come through...growth issues but they have been fixing these You will get a Flagship rep at VG to help you. They are not able to help with everything you need but they are a good start. VG PAS services might be good. Good choice is often ...
by BigOil
Wed Jan 16, 2019 5:18 pm
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 81312

Re: John Bogle is dead at 89

His contribution is unique and uniquely valuable to many, as was his character. Rest in peace. May his family find comfort. Godspeed Jack.
by BigOil
Mon Jul 23, 2018 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Buy house for retired mother?
Replies: 72
Views: 6382

Re: Buy house for retired mother?

What several elder law attorneys have told me is that having the ability to private pay for at least a year or two is what makes the difference between getting into a nice facility or not. Even if the family switches to Medicaid at some point -- once you are in, you can't be kicked out. This was our family's experiences with relatives and could have been with my late Father -- passed pre 'caid. It's geographical/market specific I think. Nursing homes can be rough. Lawyers here even have "nursing home app" to drive sales-litigation at every opportunity. Topic should be in thinking/plan but may not be issue given OP family resources... Key in ***any*** 'caid or not LTC situation is SITE VISITS and staff knowing family checking in i...
by BigOil
Thu May 31, 2018 4:45 pm
Forum: Personal Consumer Issues
Topic: Need some advice in regards to A/C System
Replies: 29
Views: 2754

Re: Need some advice in regards to A/C System

You are being oversold. The brand of the air-conditioner is pretty much irrelevant. OEMs use the same/similar components. I'm talking about traditional Texas air-conditioners LOL --- not minisplits etc. It's all about the contractor, and not oversize the AC, with good ducts & airflow . In most places single stage AC is fine, can be 16 SEER. Skip communicating fancy thermostats. Not a fan of 2 stage AC. Generally fancy AC can be used to cover up for for poor ductwork & design. Spend money if needed having the ductwork optimized. Use decent registers. Humidity controlling IAQ thermostat might be smart in some places. Sometimes a separate dehumidifier makes a lot of sense. But only for the super sweaty places. Get a 3" 11MERV medi...
by BigOil
Wed Mar 14, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford house in VHCOL area?
Replies: 17
Views: 3104

Re: Can I afford house in VHCOL area?

Yes. Yes. Yes. We lived all over the country but I think it's very hard for people who haven't lived in a VERY high cost-of-living area to understand why people pay what they do. And the associated compromises and risks one takes. People do "crazy things" to live and commute in these places. VHCOL are very fun places if you have very solid incomes or/and an "adapted financially lifestyle" one finds find acceptable. Yes you need to do this. Yes you can afford it. The Bay Area & the LA area will continue to at least lead the economy I believe. In spite of some structural things that are business-unfriendly, which cannot be discussed here... After 11+ years --- we never once regretted stretching for an expensive(to us) ...
by BigOil
Sun Oct 01, 2017 8:01 pm
Forum: Investing - Theory, News & General
Topic: Any advice on moving my company 401k?
Replies: 17
Views: 2291

Re: Any advice on moving my company 401k?

Apparently it's not all about (lowest)costs. My 401k is moving from Vanguard to Fidelity. It's a HUGE plan in a Fortune 20 company. But there is a key distinction between fund costs and plan costs --- to me a best practice is to look at those fees separately AND carry them through to to participants transparently. I think the Johnson family (Fidelity is not a public company) will be competitive in some costs, to leverage the other products/services they offer ... stuff that may make the Johnsons money, that Vanguard does not focus on due to structure/management. I am not sure any publicly owned fund company (T-Rowe etc) can ever be as inexpensive as Vanguard, or "relatively inexpensive" with some enhanced services as perhaps Fidel...
by BigOil
Thu Aug 17, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Model Home Purchase/Leaseback
Replies: 20
Views: 7372

Re: Model Home Purchase/Leaseback

Advice: 1) You should really like the house and decorating, and the still-present "extra costs" and/or accelerated spending of buying "new" (yard & hardscape finishing, paint changes etc.) A market-priced, tasteful but not perfect, under 20 yo house is typically a better deal--you do the updates to your schedule and budget. Sometimes these used homes have much better lots/locations as new builders ALWAYS try to put max sq ft on a lot = more margin to them... Clearly in hotter markets/locations you have less room to mauver. 2) Read the contract, VERY carefully. NVR's (Heartland, NVHomes, Ryan) absolutely STINKS! (probably typical) but they did change the most egregious parts. For example a promised a target date to cl...
by BigOil
Wed Aug 16, 2017 4:34 am
Forum: Personal Investments
Topic: please help...am I overextended - first home
Replies: 78
Views: 10552

Re: please help...am I overextended - first home

You admit you have not managed your finance well. You have not proven you can do this. You have significant debt. The house WILL have i$$ues. NO ONE has your back on this and they all want you to have a house. Most people are ignorant or lazy or irresponsible with money (it's a spectrum). That is a fact incontrovertible by TONS of macroeconomic data. Advice from this "guy on the internet" hold off buying and learn to manage money, and have saving first. Then house. Good News - Many many folks DO get in good positions to buy a house with solid finances. Be weird, and not typical. Finances in order first, then a house. You can do it! ---- I think Dave Ramsey is great for almost all typical folks. Get his book, and follow that advic...
by BigOil
Thu Aug 03, 2017 7:50 pm
Forum: Investing - Theory, News & General
Topic: Why Do Stocks Keep Hitting Records? msn/WSJ
Replies: 25
Views: 5066

Why Do Stocks Keep Hitting Records? msn/WSJ

Topic has been sort of discussed relative to versions of "will index funds warp the market with inefficiency concern"... Why Do Stocks Keep Hitting Records? Here Are 5 Theories (WSJ) <edited, highlights are mine> ... " One hallmark of this year’s stock-market rally is the relentless flow of money into index-tracking mutual and exchange-traded funds. Some $128.6 billion has moved into U.S. index-tracking funds that own U.S. stocks in 2017 through June, while a net $99 billion was withdrawn from actively managed U.S. stock funds , according to Morningstar Inc. Buying of passive funds is partially offset by the money flowing out of active ones, but some investors warn that the rising popularity of index funds that own hundreds, ...
by BigOil
Mon Jul 31, 2017 10:33 am
Forum: Personal Consumer Issues
Topic: Opticians: is there any difference in quality of Costco glasses?
Replies: 76
Views: 200235

Re: Opticians: is there any difference in quality of Costco glasses?

"Zenni must just assume something" THEY DO

Spouse's progressive not quite correct. Zenni will not adjust that dimension...I asked.

The issue was with the particular frames/lenses and how they fit.

Exchange for a different pair they were okay.

It's a risk taken for Chinese value product.
We like Costco.

Luxottica Is a little bit like OPEC ... except more effective at controlling price.
I avoid their brands wherever possible.
No idea why this has not been addressed competitively/anti-trust in the western democracies...especially EU.
by BigOil
Sat Jun 17, 2017 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 35326

Re: Siblings in disagreement over mom's house.

This is a kinda funny(not hahah) thread. I think that's because a lot us can relate!!! I can. On and on we go... I think we all want to make it better & unify the family BUT, after reasonable conversations have happened (or tried) Some situations you cannot be fixed without "hurting feelings". Especially in the commercial/business world. This is at its core a commercial-type issue , albeit wrapped in family dram a to obscure, and hide the correct way to solve it... SO 1) speak to a local lawyer on partition sale and cost estimate, these are common, pay for that advice 2) forget about family harmony - cruel but true --- this is business transaction, there is not harmony already (it's gone) because 3) cannot cure stupid (or emot...
by BigOil
Sat Jun 17, 2017 4:44 pm
Forum: Personal Investments
Topic: Vanguard Target Retirement Trust vs Mutual Fund
Replies: 7
Views: 2550

Re: Vanguard Target Retirement Trust vs Mutual Fund

Just track VFIFX (0.16% ER) it's "close enough" and know you are making more than that. In my (former) employer's 401(k) which has really good costs. "Target Retirement 2055 Trust Plus" has an ER of 0.06% (a 62% !!! cost savings) You may pay a flat fee in such plans (I do) it is $26 per year. $26 adds to ER% for assets of+ $10K +0.03% to ER $100K +0.003% to ER (doh..) Most plans are not this cheap BUT even "half as good" is decent, and not uncommon. I think more firms will be using lower cost options (Trust) ... if they do not, and are of size to do so,... they could get in trouble as a fiduciary. Other's are right. Relax. This is a really GOOD thing as the math shows. But your question is a very good one.
by BigOil
Thu Mar 02, 2017 1:10 pm
Forum: Personal Investments
Topic: Vanguard Lousy Customer Service
Replies: 88
Views: 12945

Re: Vanguard: THE WORST BROKERAGE. Stay away

I held accounts at Fidelity and Vanguard for many years. Last year in a simplification effort I consolidated all into Vanguard. My experience over the years is that Fidelity clearly provides better service and has a better website. However, Vanguard is "good enough" to use Bill Gates saying. I have had no significant problems with Vanguard and they have the best funds on the planet, IMO. I will say that whenever problems did occur, Fidelity was more responsive than Vanguard, which seems to be true of some of the complaints posted on the forum. Ditto 1000% ... Stories are not data, and they make bad policy & business decisions (ever watch the news lately? LOL). That said, the realities of (HUGE) growth have taxed some of Vangu...
by BigOil
Tue Oct 18, 2016 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Does it financially make sense to pursue an additional degree?
Replies: 10
Views: 1747

Re: Does it financially make sense to pursue an additional degree?

"That said, pursue it for the love of the field, not for a financial return." THIS I worked with a ton of PhD's, that *could* make a bit more money all the technical career ladder than "non-management" B.E./M.E. Degreed Engineer's. Many did not. Most were happy to not be in the quagmire of trying to find tenure somewhere. But it depends on individual performances. If you're really technical like say the guys/girls getting patents etc. --- say someone designing catalyst P-chem stuff where I worked --- you need the PhD. And you can be paid well, as if "middle++ Management" doing that role & only supervising a few lab-techs if any. Not a lot of headcount in those roles though. I think the point of that is to ...
by BigOil
Tue Oct 18, 2016 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Chevron Texaco Retiree Medical Benefits
Replies: 10
Views: 2521

Re: Chevron Texaco Retiree Medical Benefits

Pre-65 here but I've definitely noticed the change. The old system post-65 was simple they provide "Medigap-type" for everybody eligible, or maybe an HMO/PPO depending on your location. I think. Now they will use a different mechanism to provide funding ---which may be less $ if you're "early Retiree" by the point system used (if I read correctly). At some others mentioned I think such policies have standard designs by law. Knowing a little bit about decimated HR has been for for efficiency over the years, it appears they have a US-based (!) contract call center to avoid a total cluster on this change. Which is exactly what would happen within older retiree crowd that cannot, or will not, use the Internet. Not to mention...
by BigOil
Wed Oct 12, 2016 2:46 pm
Forum: Personal Investments
Topic: Investing in CVX for the sake of dividends
Replies: 25
Views: 3134

Re: Investing in CVX for the sake of dividends

Hint--- Check my User name. :happy I consider myself a (former) "insider" in this industry. Chevron is an outstanding company that is/has been run incredibly well. It is overwhelmingly a meritocracy internally. Unlike historically, say BP and Shell were --- they had convoluted structure, Eurocentric rather than shareholder-centric approaches, and Management that went to the correct schools, linage, etc... --- less of meritocracy. CVX is truly process-focused. That's VERY important in this low-growth HIGH capital sector. It's hard to believe if you're outside, but it's the quality of people management--- yeah the "soft stuff" down to the lowest levels that keep you from blowing up the refinery, pipeline, wellhead, ship et...
by BigOil
Mon Oct 03, 2016 9:52 am
Forum: Personal Consumer Issues
Topic: Where/how do Bogleheads get their tires inflated?
Replies: 97
Views: 11976

Re: Where/how do Bogleheads get their tires inflated?

THIS If you don't need portability then just get a contractor type pancake air compressor. You can find models as low as under $50, they are loud but will get the job done far better than any portable in the same price range. EDIT Whichever you buy, spend a few bucks on a decent tire gauge and dont trust the built in ones. MINE (from walmart) IS REALLY LOUD but it works well...did I say it was LOUD ... hello I cant hear you... :? Most places under inflated tires, in my experience, they're not going to add a few pounds over the recommended pressure from the manufacturer even if the tire is hot. You have to ask. It's find to add bit more more air than the manufacturer recommends. Provided it doesn't exceed the maximum pressure on the sidewall...
by BigOil
Mon Oct 03, 2016 9:39 am
Forum: Personal Consumer Issues
Topic: Think about a whole house generator. Generac 22k
Replies: 31
Views: 8614

Re: Think about a whole house generator. Generac 22k

Generac are okay I've (had) installed two NG whole house units. A relay cuts the AC compressor to avoid stalls. Nifty. IMHO Non-whole house is fine if it makes sense to save $. Live in the Great Lakes region... And I have oil and battery heater; no I'm not entirely sure they are necessary. The Installer did not think they were. The reliability secret on these things as maintenance, most of our neighbors have whole house mostly Generac actually--- last outage several did not work as I walked around with the dog in the snow--- the following two weeks I saw more than a few service trucks parked in the street! Most important is periodic maintenance and using high-quality synthetic oil & change oil/filters/battery(water annually and replace ...
by BigOil
Fri Jun 03, 2016 9:44 am
Forum: Personal Consumer Issues
Topic: New HVAC Unit - Low, Medium or high end
Replies: 15
Views: 4215

Re: New HVAC Unit - Low, Medium or high end

Big house will not do well with Japanese-style split units. We have 3.9K SF 2-floors with "untaxed basement" SF common in NYS. Winters are long and cold where we live. I am extremely happy with the products & local service. I cannot even tell when the system is running. We have it in a mode where the fan circulates air 24/7 at its lowest speed and no longer have cold or hot spots in the house. THIS IS THE KEY WHERE WE LIVE. YOU MUST HAVE 24/7 low-energy air circulation at least in the Winter. Original high end higher SEER unit. I DIY fixed it once a few years ago (as a ChE I'd lose my pride if I could not diagnose a simple fluid handling unit! LOL) - bad vac switch actuator. (it's simple with 2004 era digital control, and serv...
by BigOil
Fri Jun 03, 2016 8:11 am
Forum: Personal Consumer Issues
Topic: Your Thoughts on Car Buying Services
Replies: 28
Views: 5376

Re: Your Thoughts on Car Buying Services

Buy services are good if you do not like to negotiate. If you have access to supplier / employee pricing that will beat almost any negotiated deal. That's the simple version. Due primarily to politically-generated State franchise laws IMHO- car Dealerships are all over the map in their negotiating tactics and transparency. No dealers are fiduciary LOL -- but some are much better than others. Especially the ones that will negotiate the way I like to - payments are not relevant, I will not lease, I will pay cash or perhaps use my financing, no aftermarket extras, no extended warranties. No non-Maroney sticker "dealer" options, etc... There are many ways for them to make money, you're at a huge disadvantage. You also need to separate...
by BigOil
Fri Jun 03, 2016 7:40 am
Forum: Personal Finance (Not Investing)
Topic: My former attorney has become an Edward Jones rep
Replies: 54
Views: 8436

Re: My former attorney has become an Edward Jones rep

Good job. The original poster is well invested in Vanguard Target Date Funds and he has no need of a financial advisor. Edward Jones has been known for a couple of things: <edit> One problem with going to such advisors is the temptation for the advisor to churn the clients accounts. My suspicion is that Edward Jones is less guilty of this than other firms. They used to have a reputation for long time advisors and long time client relationships. From what I have heard, the sales pressure is greater than it used to be and they are more like other such companies. I actually knew one of their reps in a city I worked fairly well. He probably is still there. He built a good clientele and got established in the community. His big thing seemed to ...
by BigOil
Thu Jun 02, 2016 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 1217
Views: 223007

Re: High Earners - What's Your Profession?

Ummmm "BigOil"
by BigOil
Thu Jun 02, 2016 3:14 pm
Forum: Investing - Theory, News & General
Topic: Lessons from the past - digging though old work records
Replies: 27
Views: 5555

Re: Lessons from the past - digging though old work records

RIck- Around this same time I ran into an old High School acquaintance on a flight to see my Mom & Dad. He was going to Smith Barney training. He became hugely successful "Financial Advisor" & "VP" --- the term itself is of utter bull crap. :annoyed He literally sold Buicks before; he flunked outta State U before for that. :shock: He was a nice social guy great golf buddy. Old Buick buyers loved him. 8-) People pay expensive "stupid tax" to be ignorant (a Dave ramsey term I like). You were great "tax collector" for a few years! Fortunately "tax collectors" can be forgiven and repent (hmmmm ... Kind of sounds familiar but off-topic LOL) I totally get now why they like Marines --- it's...
by BigOil
Thu Mar 24, 2016 8:39 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey's Investing Advice or: A Chris Hogan: America's Voice on Retirement Story
Replies: 55
Views: 29627

Re: Dave Ramsey's Investing Advice or: A Chris Hogan: America's Voice on Retirement Story

timboktoo wrote:...have more respect for him ... and if he carried his great understanding of the human psyche to investing as well, instead of leaving it behind at the emergency fund step.

- Tim
+++111 nice insight
by BigOil
Thu Mar 24, 2016 8:02 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey's Investing Advice or: A Chris Hogan: America's Voice on Retirement Story
Replies: 55
Views: 29627

Re: Dave Ramsey's Investing Advice or: A Chris Hogan: America's Voice on Retirement Story

Resurrecting this thread. re: Chris Hogan a "Dave product" I generally agree w/above Bogleites, & I often enjoy hearing podcast too. But Dave strikes me is a very self-confident controlling entrepreneurial guy. Clearly he does a lot more good than bad, but like a lot of successful people they often don't listen well because of their success (his past "arguments on fees & Bogle" to me indicate he is not processing or seeking balance information) ! --- I worked with quite wealthy private business owners over my career and have seen "this disease" of the successful first hand - not all have it but it's not unusual with any of us --- but the owners/CEOs impact more people! Dave not evil IMHO -- Hanlon's raz...
by BigOil
Fri Jan 15, 2016 4:14 pm
Forum: Personal Investments
Topic: Why is there no vanguard competitor?
Replies: 48
Views: 9485

Re: Why is there no vanguard competitor?

My Company 401k has index expenses as stated above. It uses Vanguard funds. :D How? I know Vanguard's domestic stock fund is 0.04% (or 0.02?) for the lowest cost class, but I thought that's the only one so low, and their international funds are more expensive. They have sorta off-menu funds for large accounts, That 401k is around $20 Billion. ~$45 year IRRC per account for admin regardless of account size. Example: Vanguard Institutional Total Stock Market Index Fund Institutional Plus Shares (VITPX) 0.02% expense or Vanguard Developed Markets Index Fund Institutional Plus Shares (VDIPX) 0.06% expense I'm not sure what the point really is here, other than in spitting distance of the TSP; the difference/potential difference is in paying des...
by BigOil
Fri Jan 15, 2016 8:47 am
Forum: Personal Investments
Topic: Please help me decide if buying my first house is smart financially?
Replies: 29
Views: 4146

Re: Please help me decide if buying my first house is smart financially?

There are some pretty thoughtful posts here. And some that are, in my opinion, pretty silly to most folks. Although over-buying is foolish - on that I agree 1000%. But it's the Internet and this board in particular, since it is so well moderated, gives you a *wide* range of valid feedback. I think the first reply pretty good one. We have a lot of experience with this, having lived in very very stupid high cost areas and lower-cost. Having made an awful lot of money on a house (California) and given a lot back (Florida). My opinion. Yes you can afford a house. It is not an investment. You do not want to become a landlord as a strategy. I know. Owning is a lifestyle choice. I would focus on the likelihood of needing to change homes in the nex...
by BigOil
Wed Jan 13, 2016 8:13 pm
Forum: Personal Investments
Topic: Why is there no vanguard competitor?
Replies: 48
Views: 9485

Re: Why is there no vanguard competitor?

There are alternatives to Vanguard that are cheaper and probably better. However, they aren't as openly accessible to everyone. The Exxon plan is really interesting because the total assets under management is less than 1% of Vanguard and about 5% of the TSP. Yet all their domestic stock and bond funds have expenses of 0.02 to 0.03%, and the international funds are 0.06 to 0.08%. Vanguard and the TSP have tons of operations costs that Exxon doesn't. Still, it makes you wonder whether Vanguard and the TSP could go even lower. My Company 401k has index expenses as stated above. It uses Vanguard funds. :D I find the rest of your post speculative and need data. Executive pay is a red herring, without data. IMO no government EE could run a mult...
by BigOil
Sat Jan 02, 2016 9:39 pm
Forum: Personal Consumer Issues
Topic: Sororities: The cost of Greek Life?
Replies: 46
Views: 9562

Re: Sororities: The cost of Greek Life?

There's a lot of noise in thread. As for cost it's pretty simple. There are significant costs (several g's typically) :moneybag :moneybag :moneybag when pledging as a freshman, and they are sorta duplicative as you are not in the house yet. Incrementally, after that, it's not too bad as off-campus housing is often expensive too and you gotta eat. But if you're going to squeeze every nickel don't do it. Sororities are highly organized and have a lot of rules and fines, fraternities are just barely organized enough to function. :oops: To join is a social decision, if you're not social don't do it. If you're not morally comfortable, definitely don't do. If you can't afford it don't do it. Life goes on. There're other ways to be successful and ...
by BigOil
Tue Dec 15, 2015 5:37 am
Forum: Personal Finance (Not Investing)
Topic: Older couple being swindled w/ Genworth Variable Annuity
Replies: 70
Views: 15210

Re: Older couple being swindled w/ Genworth Variable Annuity

If you don't mind sharing, roughly how much did this inappropriate investment cost this couple ??? ~~Total amount put-in, less total amount taken out over the period of time they owned it? It sounds silly, but I read these threads and get just a little bit emotional -- we've had Family get some really crappy "advice". These are funds meant for one's final years, the folks are doing the best they know how and seeking advice. Yes, they were ignorant. Yes they should perhaps thought about things sooner. They were NOT negligent and they weren't careless and they were trying. So they go to the "Cadillac dealership" (so to speak) and meet a "transportation adviser"... He says that Cadillacs are the finest transportat...
by BigOil
Sun Dec 06, 2015 6:23 pm
Forum: Investing - Theory, News & General
Topic: Childrens' Student Loans Delaying Retirement
Replies: 153
Views: 16965

Re: Childrens' Student Loans Delaying Retirement

there is a fairly large portion of outstanding student loan debt that’s caused by irrational parental behavior. I don’t blame the kids or “worthless degrees”; kids are not mature enough at that point, and college is not vocational school. But if you have to borrow money, there has to be risk-reward analysis done by parents. It all starts at home, and many adults are not doing their job, unfortunately. It sounds terribly cynical. I think it's true. Significant part of population in the reasonably affluent lower middle to upper middle-class... You can't cure stupid. There's just no nice way to say somebody has to be the grownup. Furthermore politicians will always pandered to these issues and it's the media as well. I suppose it makes sense,...
by BigOil
Sun Dec 06, 2015 6:09 pm
Forum: Investing - Theory, News & General
Topic: Childrens' Student Loans Delaying Retirement
Replies: 153
Views: 16965

Re: Childrens' Student Loans Delaying Retirement

MnD wrote:I see this all the time. Parents make decent money but every paycheck is spent on fancy home with big mortgage, car payments, vacations, expensive toys etc. ...
Sound like many of our neighbors and a few friends over the years (as best we can tell...) :| :| :| :oops: :oops: :oops:
by BigOil
Sun Dec 06, 2015 5:51 pm
Forum: Personal Investments
Topic: A Twist on Non-Qualified Deferred Compensation Plan
Replies: 5
Views: 1135

Re: A Twist on Non-Qualified Deferred Compensation Plan

While I don't *think* there is a history of these DC things not paying out historically (anyone? did GM not pay? others?...not that it matters)...in a BK or Sale ...keeping Mgt. OK is a usually priority for tactical reasons I suppose... Contracts to stay and not killing def comp happen, often... BUT it's a real risk..

We decided to wait till to closer to retirement, but the tax benefit is so large to fund the first few years of retirement materially from deferred over a SHORT ish payout 5 or so years seems worth the risk if not huge part of Net Worth.

Not in low 40's tho...

YMMY
by BigOil
Wed Dec 02, 2015 2:03 pm
Forum: Personal Investments
Topic: Helping my parents see the light with Ameriprise
Replies: 75
Views: 13615

Re: Helping my parents see the light with Ameriprise

Sounds like you're your way to at least help your parents understand what they're purchasing. I have a friend who is in Ameriprise "Adviser". Their Advisers have many skills and backgrounds. He is a former Academic, and much of his "book" amazingly are Academics. Intellectually, most of them... they're really smart 8-) . He totally understands the value of what he's doing, and he understands and admits best-practice investing is not that difficult. What these advisors provide is 1) non-fiduciary financial advice that is LEGALLY only "suitable", but far from optimal for the client! [I think this point is the first one you should try to convey.] Many of them do not sell the most offending products, but some/most ...