Bogleheads.org

I did it for 20 plus years with hedge funds, RE syndications, managed futures and various private RE deals. If I could go back in time, I would have done only S&P 500 Index. All this stuff is very complicated to vet, highly illiquid, and K-1's are a royal pain too, mostly waiting for them, some K-1's would come in the summer. There was no true "diversification" benefit other than psychological. When the GFC 08-09 hit, the distributions for most RE deals I was in at the time also contracted, some to zero. RE froze up and deals that were scheduled to liquidate were delayed several years, one deal was delayed to 2017.

Dave

Tom_T wrote: ↑Sun Mar 19, 2023 1:23 pm Hire a good accountant to do your taxes. Why stress every year?

+1
Not hard at all, my CPA does it and has for 40 years.
Dave

[Thread merged into here --admin LadyGeek]

"The Compound" hosted by Michael Batnick and Josh Brown in today's episode interviewed Samir Kaji who worked at SVB and Republic Bank. Very insightful.

https://www.youtube.com/watch?v=Q3gMXHnFBH0

Dave

If you are really concerned, use a Treasury Money Market fund, it is convenient and because treasuries are the instruments the funds are held in, you are basically in about as low risk as you can get.

Dave

From SIPC website, the link is below: Are money market mutual funds protected by SIPC? Are they subject to the $250,000 cash limit? Money market mutual fund shares held in a customer’s account at a brokerage firm qualify as “securities” under the Securities Investor Protection Act (SIPA) and therefore are subject to the $500,000 limit of protection, not the $250,000 limit applicable to cash. It is important to remember that, although many investors treat money market funds like cash, they are securities and, as such, may lose value. In a liquidation proceeding under SIPA, subject to the limits of SIPC protection, SIPC will return money market fund shares to a customer, but will not protect the customer against any decline in the value of th...

You can contact Vanguard today (Sunday): If you notice suspicious transactions or other activity, let us know right away at 877-223-6977 or fraud@vanguard.com.

https://investor.vanguard.com/trust-sec ... ity-center

Dave

Is he looking to work for one of the big firms like CBRE, Cushman, Newmark, Colliers, Marcus and Millchap etc? Or is he going with a smaller local outfit? On piece of advice is if he can find a good mentor who would take your son under his wing and teach him the ropes is really helpful, or, someone he can go to with questions as he begins this journey. I worked on the invest side of commercial RE and that is how I learned. The brokers will also teach you a lot. One other point is to learn the language and concepts that are used in commercial RE, once you have some of that, you can understand what people are talking about.

Dave

She's completely burnt out, unsupported at work, stressed, not sleeping, having trouble eating, depressed, getting angry at home, unable to enjoy time with our kids / myself, etc. If this was my wife, I'd tell her to email her resignation and never walk into that place again. +1. "She's completely burnt out, unsupported at work, stressed, not sleeping, having trouble eating, depressed, getting angry at home, unable to enjoy time with our kids" this is not life or living. She should quit that job immediately and live again. Dave Since I’m a lawyer, I didn’t get the issue - that sounded like the usual to me. I’m glad it’s not the norm in whatever fields others are in. Hi Annette. I do not know how anyone would put up with that leve...

If this post is OK with the admin, I simply want to express my gratitude to all of my fellow Bogleheads here who have so incredibly tutored me through my decision to transfer my EJ account to Vanguard and self-direct my soon to be 3-Fund portfolio. The last two weeks (with lots of encouragement and hand-holding), I have learned sooo much that I did not know and have a much higher level of confidence. FYI, I have been moving through this undertaking with my bride of 58 years as a fellow student. Should I pass before her, she will be fully aware to take over this lazy portfolio. Transfer is underway, have determined our initial allocation, have chosen the 3 funds (and MM), and now await the selling and buying. Could/nor would have made this ...

jebmke wrote: ↑Fri Mar 10, 2023 4:53 pm Roku filed an 8-K in which it informed investors that “approximately $487 million” or 26% of its cash and cash equivalents balance (~$1.962B), is deposited with SVB.

Seems reckless to me

What could go wrong? Beyond reckless!

Dave

yohac wrote: ↑Fri Mar 10, 2023 2:03 pm

BarDownHockey wrote: ↑Fri Mar 10, 2023 11:16 am She's completely burnt out, unsupported at work, stressed, not sleeping, having trouble eating, depressed, getting angry at home, unable to enjoy time with our kids / myself, etc.

If this was my wife, I'd tell her to email her resignation and never walk into that place again.

+1.

"She's completely burnt out, unsupported at work, stressed, not sleeping, having trouble eating, depressed, getting angry at home, unable to enjoy time with our kids" this is not life or living. She should quit that job immediately and live again.

Dave

In light of this recent banking news, I am quickly looking into trying to transfer my money out of a bank. However then the problem becomes what to do with it. My current plan is probably to buy treasuries with it. But to do this, I believe I would first need to allow the money to sit in my Vanguard settlement fund for some amount of time while the transaction goes through. I am not sure exactly how long this is, but I am thinking it could possibly be about a week. So with this in mind, I think I might need to have the cash sitting in my Vanguard settlement fund for about a week. But then does this defeat the entire purpose of doing this in the first place, which is for safety with regards to possible bank issues given the recent news? The...

OP ask your Dad what happens if Tina dies? How do the LLC(s) unwind?

Dave

DesertGator wrote: ↑Wed Mar 08, 2023 11:12 am This may very well violate securities law. You can't just create an investment fund, solicit investors, and invest it in something like real estate.

You should read whatever signed agreements exist. Find out the address of the property, find out who owns it (LLC, LP etc), then find out who the owners/members of that entity are. That may be very informative. Check to see how/where the property is being advertised for rental. Where are these so-called "emergency funds" located? Is this disclosed anywhere?

Excellent points DesertGator. +1

Dave

My parents are making some financial moves that are raising my eyebrows... Should I but out or speak up? They recently sold their home and retired with about 300,000 to live on. They are early 60's and *extremely* frugal. They aren't very savvy at investing (obviously, or they would have more money) but will literally skip meals to save a buck. So they thought they could downsize, get part time jobs and stretch it. My dad has VA benefits and a few classic cars to add approx 25k to their net worth. They did downsize into a small house, paid off, in rural GA. They moved into a "compound" of sorts that consists of a clump of all their old military friends all living in houses in the same neighborhood near a lake. All of them getting...

The only investment sin is "not doing what is in your best interest".

Dave

Early morning walks outdoors 3-4 miles daily for the past 18 years. Prior to that I was walking 5 days a week since my early 40's. Podcast's, occasionally music are usual entertainment and sometimes my wife joins me.

Dave

Retired. Have a few years expenses in a money market. Have short and intermediate bonds too. Portfolio is 40/60, no change.

Dave

Why not put the house up for sale at a price where you break even? There could be someone out there who will over-pay because they are in great need of your location and what your particular house has to offer. It may be a long shot, but nothing ventured, nothing gained.

Dave

More money in portfolio now than 12 years ago when withdrawals began.

Dave

Taylor, this is priceless!
Thanks
Dave

I'm in my mid 60's now and when I was in my 30's, 40's and early 50's, I invested in Hedge Funds, managed futures, raw land, syndicated RE partnerships, Fixed Income CEF's, Silicon Valley startup companies. I also had stock and bond investments too during those decades. My advice to you is to steer clear of everything I listed and stay with the index funds approach. If I could turn back the clock, index funds would be it for me. Alternatives (like the ones listed above) are hit and miss, high risk, illiquid, high fees, things can go wrong even in seemingly solid commercial or multifamily RE deals.

Dave

My current weighted ER is .04%. I am not certain what the highest ER I would consideration this moment in time. In the past I owned active mutual funds that were 1% and some CEF's that had a much higher ER.

Dave

Warren Buffett has a low opinion of PE.

https://www.youtube.com/watch?v=xlTjAlqmOqA

Dave

In Florence, this is a local favorite, "Trattoria Le Mossacce". It is a very small Trattoria that an Italian friend who lives in Florence took us to. She has been eating here since the late 1970's. It is informal and the food absolutely outstanding.

http://www.trattorialemossacce.it/en/

Dave

H-Town wrote: ↑Tue Feb 14, 2023 8:19 am It’s your wife’s want and has been for many years. What are you waiting for? The opinion of strangers don’t matter.

+1
If wife wants, make it happen yesterday!

Dave

I recommend visiting Bologna. Spent 4 days there last fall. While in Florence take a private tour guide or rent a car and go to Siena too.

Dave

"Inside Vanguard" by Charles D. Ellis.

Dave

Advisors that manage assets with very low fees:

1. Vanguard PAS
2. Evanson Asset Management (Charges fixed fees)
3. Derek Tinnin at Altiora Financial Group LLC in Lebanon, OH or Cincinnati Ohio. (He charges fixed fees too)

Dave

My thoughts: 1. Buy the cheapest house in the best neighborhood you can afford. I bought my 2 bedroom 1.5 bath house for $625,000 in 1989. It is now worth about $3,000,000. 2. Get a job where your salary will increase a lot. My salary is more than 15 times what it was when I started working in 1984. 3. Save money like crazy. I put about $80,000 a year in tax deferred accounts each year. Petro - What about buying a watch?😂🤣 Tony Tony: For the record, I never bought a $5,000 watch. But my wife gave me a $7,000 watch for Christmas a few years back. For the OP: One of my pieces of advice to get a net worth of $3 million is to marry someone with a trust fund that's big enough to buy a $7,000 watch. Tony is handing out Patek Philippe's this week...

You say you don’t know how to be rich, but the beauty of it is that you get to do it your way. There is no one right way. Find a way that is consistent with your values and preferences. The book “We Need to Talk,” by Jennifer Risher describes how she felt she needed to “do rich right” and later she and her husband, who was raised poor, learned their own way. +1 This is brilliant. Dave Reminds me of incredible hostile takeovers by Dave and his Hedge Fund during the Gordon Gekko era of the 1980s!✈️✈️ Dave wrote the textbook “Barbarians at the Gate”! https://i.insider.com/5293c28eeab8eac63c8fe1d7?width=1200 We can learn much. Tony It’s very simple. Being rich, is preferable to being poor. No one I ever met aspired to poverty. Dave

AnnetteLouisan wrote: ↑Mon Feb 06, 2023 6:52 am You say you don’t know how to be rich, but the beauty of it is that you get to do it your way. There is no one right way. Find a way that is consistent with your values and preferences. The book “We Need to Talk,” by Jennifer Risher describes how she felt she needed to “do rich right” and later she and her husband, who was raised poor, learned their own way.

+1 This is brilliant.
Dave

abuss368 wrote: ↑Sat Feb 04, 2023 8:54 am

LifeIsGood wrote: ↑Sat Feb 04, 2023 6:55 am Will anyone else be traveling with you? If so, have them go through security first and camp out at the end of the x-ray machine conveyor until your watch comes through.

This has worked well from experience and I would agree.

Best.
Tony

Why are you flying commercial? You can use my plane anytime!

Dave

burritoLover wrote: ↑Sat Feb 04, 2023 9:41 am We need some vineviz in this thread.

He ran off with a young hedge fund trader.

Dave

Wire is quickest & safest (ACH is safe too but slower). Send the wire Monday morning and they will have the funds a few hours later Monday or latest Tuesday morning.

Dave

abuss368 wrote: ↑Sat Feb 04, 2023 9:32 am I also add to the list any state that we fly over is Dave’s Hypersonic Mach 5 Gulfstream!




Best.
Tony

Now everyone will want a lift!

Dave

My wife is perfecting “slow motion procrastination “

Dave

Year ago,, I asked a friend what he did now that he was retired. His answer: "I do very little, but I don't start that until noon. I have to warm up to it".

Dave

Congrats HomerJ!

Dave

delete

If the government "defaults" on its debt and does not fix the default quickly, all asset classes will suffer. Investment grade corporates will get hit too. I hold a very large slug of treasuries and I am not sweating it. We had a few close calls, 2011 and 2013.

Dave

Not sure you are wrong, but you can't confer a benefit on an unwilling recipient.

Dave

Orange44 wrote: ↑Mon Jan 30, 2023 3:50 pm My answer is "Nothing."


Lots of good stuff on this list though. But first I just need to do nothing for a bit.

Excellent! "Doing Nothing" is not valued or understood in our society. It has many benefits though.

Dave

This is another excellent video titled "Getting What You Want and What to do When You Get There" Rick Eigenbrod, (executive coach) for those lost in retirement :

https://vimeo.com/101418676

The video is a presentation at a Vistage Meeting.

Dave

It is very simple, a balance between saving and spending no matter what the income level is.

Dave

I worked with Private Equity RE Syndicators in a second career in my 50's as an acquisition consultant and invested in dozens of deals (syndications), there is no magic in these deals or being an investor in one. You are betting on the "jockey", that is, the syndicator/general partner, their ability, experience, knowledge, expertise and their track record. You really have to do your homework and due diligence on the Syndicator and their track record. From Investopedia: Simply put, the SEC defines an accredited investor through the confines of income and net worth in two ways. A natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a r...

Thanks to all of you, I bought VTI, FSKAX, and continued and increased prior purchases of S&P 500 index funds throughout 2021 and 2022, about $90k-$100k total in taxable, Roth IRA and tax deferred accounts, respectively. Much of which I acquired at prices lower than they are at today. When I joined BH in the fall of 2021, my plan had been to sell all my equities. Instead I sold none of my equities, retaining a bit of international and small cap that I bought prior. 2023 is starting out very well in the equity markets so I want to thank all of you who encouraged me to buy (although of course it was my ultimate decision and of course I realize they can go down from here but that’s fine too). I am staying the course this year as well! Act...

I had a friend who was making $1M a year in his 40's and 50's. He amassed over $10M by 50. He gave his wife grief for shopping at Walmart. He died in his early 60's and never enjoyed his money.

Dave

"First things first and second things not at all" Peter Drucker.

Cafe Pasqual’s. Coyote Cafe. Geronimo. Radish and Rye.
All these are excellent restaurants.

Dave