Search found 24568 matches

by Taylor Larimore
Wed Apr 24, 2019 2:21 pm
Forum: Personal Investments
Topic: Close Vanguard and go all in with Fidelity?
Replies: 55
Views: 2160

Re: Close Vanguard and go all in with Fidelity?

I wanted to ask for the forums opinions on this matter: I now have accounts at Fidelity and Vanguard. I have approx. $350,000 in various accounts. $200,00 in a professionally managed account. I also have $185,000 in Vanguard accounts VTIAX, VTSAX and VWITX. I have found that It is much easier for m...
by Taylor Larimore
Wed Apr 24, 2019 2:08 pm
Forum: Personal Investments
Topic: Dump international?
Replies: 83
Views: 2698

Re: Dump international?

I have maintained a 15% allocation to International equities for about 11 years now and it has been an appalling drag on my returns. Looking at some charts now, VXUS has underperformed VTI by approximately 50% over the last five years, and 15 % over the past 12 months. I am thinking strongly of thr...
by Taylor Larimore
Wed Apr 24, 2019 9:31 am
Forum: Personal Consumer Issues
Topic: Pros/Cons of Condo Living?
Replies: 69
Views: 8440

Re: Pros/Cons of Condo Living?

Bogleheads: I have lived in several homes and several condominiums. Each can be preferable under various conditions (children, location, friends, family, employment, etc.). Twenty-six years ago we bought a 1,600 sq. ft. condominium in a 250-unit high-rise building for $250,000. Zillow now estimates ...
by Taylor Larimore
Wed Apr 24, 2019 8:14 am
Forum: Investing - Theory, News & General
Topic: Is diversification the point of factor investing?
Replies: 38
Views: 1880

Re: Is diversification the point of factor investing?

Greetings, all! I continue to ponder the issue of factor investing and whether I should, on Rebalancing Day early next year, tilt my Three-Fund Portfolio toward small and value. Amadis-of-Gaul: You can read my opinion about "factor investing" here: https://www.bogleheads.org/forum/viewtopic.php?t=1...
by Taylor Larimore
Tue Apr 23, 2019 9:12 pm
Forum: Personal Investments
Topic: Actively Managed Tax fund vs boring vanilla index funds?
Replies: 15
Views: 981

Re: Actively Managed Tax fund vs boring vanilla index funds?

We recently were consulting a financial advisor for our overall financial planning. We were looking to invest some money ($110K) in a taxable account vs having that money in the bank. logiclife: Total stock market index funds are very low-cost, and extremely tax-efficient. You can easily tax-loss h...
by Taylor Larimore
Tue Apr 23, 2019 8:12 pm
Forum: Investing - Theory, News & General
Topic: "S&P 500 Index closes at record high"
Replies: 101
Views: 6661

Re: "S&P 500 Index closes at record high"

Bogleheads: I started investing in 1950. The S&P 500 stocks were about 25 . Today the S&P 500 index closed at 2933 (not including dividends). If I had simply purchased the index stocks. and stayed-the-course , I would be much wealthier today. Experience is a very good teacher. Best wishes. Taylor
by Taylor Larimore
Tue Apr 23, 2019 5:03 pm
Forum: Investing - Theory, News & General
Topic: "S&P 500 Index closes at record high"
Replies: 101
Views: 6661

"S&P 500 Index closes at record high"

Bogleheads:

This afternoon the S&P 500 Index closed at an all-time record high

Strong evidence that "Stay-the-Course" works!

Thank you Mr. Bogle.

Best wishes.
Taylor
by Taylor Larimore
Tue Apr 23, 2019 10:04 am
Forum: Personal Investments
Topic: Vanguard Flagship Select Representative ??
Replies: 25
Views: 1979

Mr. Bogle answered the telephone

Bogleheads: Many years ago I called my Vanguard representative and said, "I have a question about my index funds." There was a long pause and the rep. replied, "we have an expert who will help you." After another pause a voice came on the phone, "How can I help you?" I immediately recognized the voi...
by Taylor Larimore
Tue Apr 23, 2019 9:26 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Variance Risk Premium Evidence
Replies: 64
Views: 2273

Re: Larry Swedroe: Variance Risk Premium Evidence

Bogleheads:

An ounce of increased return is worth more than a pound of lower volatility.

I would like to see the before and after-tax returns of Dave's portfolio compared with the returns of the simple Three-Fund Portfolio.

Best wishes.
Taylor
by Taylor Larimore
Mon Apr 22, 2019 9:28 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Variance Risk Premium Evidence
Replies: 64
Views: 2273

A simple portfolio

Well Taylor, I don't have to wait with baited breath wondering what is in your portfolio. As I recall you are down to Total Stock Market, Total Bond Market, and SPIAs. The majesty of simplicity. Nedsaid: Your recollection is correct. I once also owned Total International in my taxable account. Howe...
by Taylor Larimore
Mon Apr 22, 2019 9:17 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Variance Risk Premium Evidence
Replies: 64
Views: 2273

Re: Larry Swedroe: Variance Risk Premium Evidence

Dave:

Thank you for sharing your portfolio.

I am looking forward to reading your replies. Nedsaid wrote a good one.

Best wishes.
Taylor
by Taylor Larimore
Mon Apr 22, 2019 5:56 pm
Forum: Investing - Theory, News & General
Topic: "Second-Grader Who Beat Wall Street -- A Decade Later"
Replies: 43
Views: 8589

"How a Second Grader Beats Wall Street" -- A Gem

Bogleheads:

We can read many of Allen Roth's "Investment Gems" in How A Second Grader Beats Wall Street here:

viewtopic.php?t=35236

Best wishes.
Taylor
by Taylor Larimore
Mon Apr 22, 2019 4:01 pm
Forum: Investing - Theory, News & General
Topic: "Second-Grader Who Beat Wall Street -- A Decade Later"
Replies: 43
Views: 8589

Re: "Second-Grader Who Beat Wall Street -- A Decade Later"

willthrill81: From 1985-1999: TSM = 17.62% CAGR LCV = 17.20% CAGR SCV = 15.77% CAGR Your figures do not agree with Morningstar: Listed below are 15 year returns for various Morningstar categories ending 6-30-00. Style.......1 Yr.....3 Yr.....5 Yr....10 Yr....15 Yrs. LCG......27.19...27.04....24.98.....
by Taylor Larimore
Mon Apr 22, 2019 3:30 pm
Forum: Investing - Theory, News & General
Topic: Most Insightful Charts
Replies: 30
Views: 2324

The Callan Periodic Table of Investment Returns

Tycoon: This is one of my favorites because it clearly demonstrates: * Diversification: by owning the entire market (all of the asset classes), susceptibility to changes in market returns is minimized. * Past performance does not predict future performance. THE CALLAN PERIODIC TABLE OF INVESTMENT RE...
by Taylor Larimore
Mon Apr 22, 2019 3:06 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Variance Risk Premium Evidence
Replies: 64
Views: 2273

Re: Larry Swedroe: Variance Risk Premium Evidence

Dave:

I know that you are a knowledgeable investor. Would you be kind enough to let us see your current portfolio?

Best wishes.
Taylor
by Taylor Larimore
Mon Apr 22, 2019 2:52 pm
Forum: Investing - Theory, News & General
Topic: "Second-Grader Who Beat Wall Street -- A Decade Later"
Replies: 43
Views: 8589

Past performance

But from 2000-2009, value, both in large-caps and small-caps, outperformed growth. In particular, SCV far outperformed TSM (nominal CAGR of 7.69% vs. -.27%). And the sum total of 2000-current is that large-cap value and small-cap value outperformed TSM. willthrill81: Interesting start date. How did...
by Taylor Larimore
Mon Apr 22, 2019 10:59 am
Forum: Investing - Theory, News & General
Topic: "Second-Grader Who Beat Wall Street -- A Decade Later"
Replies: 43
Views: 8589

Re: "Second-Grader Who Beat Wall Street -- A Decade Later"

long_gamma wrote:
Mon Apr 22, 2019 10:44 am
I don't see the portfolio posted.
long_gamma:

You can see it here (click on the "Second Grader's Starter Portfolio" link):

https://www.marketwatch.com/lazyportfolio

Best wishes.
Taylor
by Taylor Larimore
Mon Apr 22, 2019 10:30 am
Forum: Non-US Investing
Topic: The urge to go back to stockpicking [Malaysia]
Replies: 25
Views: 1477

Re: The urge to go back to stockpicking

I moved all my portfolio to sp500 and local bond. Recently I found that those stocks which I handpicked were up 50% to 100% if only I hold a little longer. How would you advise a double minded young man in this case? In my mind I know that indexing is the way to go. But it seems that I might just h...
by Taylor Larimore
Mon Apr 22, 2019 10:11 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Variance Risk Premium Evidence
Replies: 64
Views: 2273

Re: Larry Swedroe: Variance Risk Premium Evidence

To access the VRP in a diversified way, investors should consider Stone Ridge Asset Management’s All Asset Variance Risk Premium Fund (AVRPX). I was unable to find AVRPX on Morningstar? Best wishes. Taylor Bogleheads:' I did some research and found the answer to my question: Stone Ridge Funds are g...
by Taylor Larimore
Mon Apr 22, 2019 9:51 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Variance Risk Premium Evidence
Replies: 64
Views: 2273

Re: Larry Swedroe: Variance Risk Premium Evidence

Larry Swedroe wrote:To access the VRP in a diversified way, investors should consider Stone Ridge Asset Management’s All Asset Variance Risk Premium Fund (AVRPX).
I was unable to find AVRPX on Morningstar?

Best wishes.
Taylor
by Taylor Larimore
Mon Apr 22, 2019 8:53 am
Forum: Investing - Theory, News & General
Topic: Is diversification the point of factor investing?
Replies: 38
Views: 1880

Re: Is diversification the point of factor investing?

Thanks for replying, Taylor! You may well be right. I wonder about the risks of trying to over-optimize. Additionally, let me say that I owe you a considerable debt. Back in the mid-2000's, I had just graduated from college and was trying to figure out this personal-finance thing. Somewhere, I read...
by Taylor Larimore
Sun Apr 21, 2019 5:25 pm
Forum: Investing - Theory, News & General
Topic: Is diversification the point of factor investing?
Replies: 38
Views: 1880

Re: Is diversification the point of factor investing?

Greetings, all! I continue to ponder the issue of factor investing and whether I should, on Rebalancing Day early next year, tilt my Three-Fund Portfolio toward small and value. Amadis_of_Gaul: I suggest you stick to what works and what experts recommend: Morningstar Index Performance The Three-Fun...
by Taylor Larimore
Sun Apr 21, 2019 11:28 am
Forum: Investing - Theory, News & General
Topic: Vanguard kicking butt with Target Date Funds
Replies: 22
Views: 5136

Funds for taxable accounts

I am reading and hearing on this post that this might not be the best fund for a taxable account. Do you guys have other suggestions given the requirements and reasoning I have laid out above? Thanks in advance for all the learning! gjankow: Total U.S. Stock Market Index Funds and Total Internation...
by Taylor Larimore
Sun Apr 21, 2019 10:52 am
Forum: Personal Investments
Topic: Rebalancing - Asset Allocation Strategies?
Replies: 9
Views: 1026

Re: Rebalancing - Asset Allocation Strategies?

Over the last 20 years, we have contributed to our IRAs & SEP at Vanguard, 99% stock mutual funds. Now at age 70.5 & about to begin RMDs, we find that our risk tolerance has decreased & want to move from 99% to 50% stock mutual funds. Is there a certain strategy for doing this? Lump sum all at once...
by Taylor Larimore
Sat Apr 20, 2019 8:14 pm
Forum: Investing - Theory, News & General
Topic: Vanguard kicking butt with Target Date Funds
Replies: 22
Views: 5136

Re: Fund Placement

Bogleheads: Low cost Target Date Funds are usually the best investments for investors who have ALL their portfolio in tax-advantaged accounts (IRAs, 401ks, etc.). Target Date Funds, like other balanced funds, are tax-inefficient. In such cases, it is usually better to use separate funds so that we ...
by Taylor Larimore
Sat Apr 20, 2019 4:07 pm
Forum: Investing - Theory, News & General
Topic: Market timers thread
Replies: 178
Views: 10369

Hatch Batten

I always add a note to the newsletter saying "Research suggests that a diversified buy-and-hold portfolio is the best strategy for most individual investors. The Bogleheads Wiki at bogleheads.org/wiki is a good place to get started with a buy-and-hold strategy.". I have a great deal of respect for ...
by Taylor Larimore
Sat Apr 20, 2019 3:57 pm
Forum: Investing - Theory, News & General
Topic: Vanguard kicking butt with Target Date Funds
Replies: 22
Views: 5136

Fund Placement

Bogleheads: Low cost Target Date Funds are usually the best investments for investors who have ALL their portfolio in tax-advantaged accounts (IRAs, 401ks, etc.). Target Date Funds, like other balanced funds, are tax-inefficient. In such cases, it is usually better to use separate funds so that we c...
by Taylor Larimore
Sat Apr 20, 2019 3:37 pm
Forum: Investing - Theory, News & General
Topic: Market timers thread
Replies: 178
Views: 10369

Re: Market timers thread

We sure spend a lot of time on bogleheads.org talking about how to not be a boglehead. I want to be greatest market timer like Mr. Bogle himself. (/s). That is my vision of boglehead. (Magic words. 3 funds, nobody knows nuthin) long_gamma: "Stay the course. No matter what happens, stick to our prog...
by Taylor Larimore
Sat Apr 20, 2019 3:27 pm
Forum: Investing - Theory, News & General
Topic: Market timers thread
Replies: 178
Views: 10369

Re: Market timers thread

corn18 wrote:
Sat Apr 20, 2019 3:23 pm
We sure spend a lot of time on bogleheads.org talking about how to not be a boglehead.
corn18:

Well spoken.

Thank you and best wishes.
Taylor
by Taylor Larimore
Fri Apr 19, 2019 8:44 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2482
Views: 1554888

Articles recommending The Three-Fund Portfolio

Bogleheads: I have updated articles recommending The Three-Fund Portfolio: "A Boglehead Explains the Simplest Way to Manage Your Money--MarketWatch "Three-Fund Portfolio" -- Boglehead wiki "The Arithmetic of Active Management" by William Sharpe, Nobel Laureate [/color] "The BigLaw Investor Portfolio...
by Taylor Larimore
Fri Apr 19, 2019 1:36 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: The Factors That Plague Factor Investing
Replies: 44
Views: 3036

Re: Larry Swedroe: The Factors That Plague Factor Investing

https://alphaarchitect.com/2019/04/16/the-factors-that-plague-factor-investing/ Larry references a recent paper by Arnott et.al Alice’s Adventures In Factorland: Three Blunders That Plague Factor Investing. This paper serves as the starting point for an essay by Larry discussing some concerns, misu...
by Taylor Larimore
Thu Apr 18, 2019 7:21 pm
Forum: Investing - Theory, News & General
Topic: Would you be willing to temporarily change your AA?
Replies: 54
Views: 3768

Re: Would you be willing to temporarily change your AA?

Bogleheads: I have been through 9 bear markets since I started investing in 1950 at the age of 26. I worried and sold (big mistake) during earlier bear markets. Eventually it got through my thick skull to Stay-the-Course (thank you, Mr. Bogle). I now trust my asset allocation and easily went through...
by Taylor Larimore
Tue Apr 16, 2019 11:08 am
Forum: Investing - Theory, News & General
Topic: Vectors
Replies: 3
Views: 606

Vectors

Bogleheads: George Sisti, a former airline pilot, publishes one of the best investment newsletters in the business. In the April edition of Vectors he discusses: Active vs. Managed Funds The latest S&P SPIVA Scorecard Franklin Templeton sued by its employees A recent Vanguard Study Dalbar and Essent...
by Taylor Larimore
Sun Apr 14, 2019 4:54 pm
Forum: Investing - Theory, News & General
Topic: "Serious Money" book - Free download
Replies: 17
Views: 2236

Re: "Serious Money" book - Free download

Serious Money was my first investment book, written incognito during the late 1990s when I was still a stockbroker at Smith Barney. It was the beginning of my quest to change the investment advice industry by exposing bad business practices and advocating lower adviser fees. HERE IS A LINK TO "SERI...
by Taylor Larimore
Fri Apr 12, 2019 6:39 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2482
Views: 1554888

Adding funds to The Three-Fund Portfolio?

As a retiree, I am willing to trade off some upside performance for some downside stability if that is possible, and this is exclusive of my stability from my 50/50 current allocation, ie just on the equity side. 4nwestsaylng: The best way to increase "downside stability" is to increase your percen...
by Taylor Larimore
Wed Apr 10, 2019 6:50 pm
Forum: Personal Investments
Topic: 3 Fund Portfolio Bond Question
Replies: 9
Views: 673

Re: 3 Fund Portfolio Bond Question

HI all, Just switched to a 3 fund portfolio and am trying to clear up something I have been wondering about. I currently have about 185k in a 3 fund porftolio arranged as follows: 70% Domestic 20% International 10% Bonds (so about $18,500). I also have 25K in a savings account. Should I count that ...
by Taylor Larimore
Mon Apr 08, 2019 8:10 pm
Forum: Investing - Theory, News & General
Topic: Cash-out refinance and buy a SPIA vs. reverse mortgage?
Replies: 31
Views: 1596

Re: Cash-out refinance and buy a SPIA vs. reverse mortgage?

I hope Taylor Larimore will chime in, because he mentioned in another thread that he had done this. I’m curious too. quantAndHold: Here we go: When my wife and I were about 80, we mortgaged our home and purchased two Single Premium Immediate Annuities (SPIAs). With the added income during our lives...
by Taylor Larimore
Mon Apr 08, 2019 1:33 pm
Forum: Personal Investments
Topic: Those that have an "Anti-Boglehead" investment account, what are your "risky" plays?
Replies: 92
Views: 6300

What Experts Say About Investing In Individual Stocks

Bob: I learned my lesson about investing in individual stocks many years ago. This is What Experts Say: Alpha Architect: "Between 1983 and 2006, around 73% of firms had a drawdown larger than 50% (the S&P 500’s maximum drawdown during this period was around 44%). Holding one individual stock can be ...
by Taylor Larimore
Mon Apr 08, 2019 10:01 am
Forum: Investing - Theory, News & General
Topic: Small Cap Growth and Large Cap Value focus. Why Small value??
Replies: 8
Views: 939

Re: Small Cap Growth and Large Cap Value focus. Why Small value??

OSUperu: Welcome to the Bogleheads Forum: I wonder if one should have a mix of growth and value, just like having the 'dogmatic' mix of stocks/bonds, domestic/international...etc. The quick answer is "yes." Our mentor, Jack Bogle, wrote: "The beauty of owning the market is that you eliminate individ...
by Taylor Larimore
Sun Apr 07, 2019 4:21 pm
Forum: Investing - Theory, News & General
Topic: April "Bogleheads on Investing" podcast with special guest Allan Roth!
Replies: 18
Views: 2456

Rick Ferri and Allen Roth: A brilliant combination

Bogleheads:

I have known Rick Ferri and Allan Roth personally for more than twenty years. They are two of the finest and most knowledgeable investment authorities I know.

Best wishes.
Taylor
by Taylor Larimore
Sun Apr 07, 2019 3:44 pm
Forum: Non-US Investing
Topic: Vanguard value, momentum and liquidity factor ETFs. What do you think about them?
Replies: 9
Views: 1144

Backtesting and hidden fees

I am thinking about selling some of my market cap weighted ETFs and invest in ETFs or funds which use some factor investing strategies. Besides DFA, I am also considering the Vanguard ETFs (for European investors) VMOM, VVAL and VLIQ. The fees are pretty low (0.22%) and they have quite a lot of mid...
by Taylor Larimore
Sat Apr 06, 2019 6:02 pm
Forum: Non-US Investing
Topic: Vanguard value, momentum and liquidity factor ETFs. What do you think about them?
Replies: 9
Views: 1144

Re: Vanguard value, momentum and liquidity factor ETFs. What do you think about them?

I am thinking about selling some of my market cap weighted ETFs and invest in ETFs or funds which use some factor investing strategies. Besides DFA, I am also considering the Vanguard ETFs (for European investors) VMOM, VVAL and VLIQ. The fees are pretty low (0.22%) and they have quite a lot of mid...
by Taylor Larimore
Fri Apr 05, 2019 6:36 pm
Forum: Investing - Theory, News & General
Topic: 2019 Boglehead Contest Update--with leaders
Replies: 2
Views: 333

2019 Boglehead Contest Update--with leaders

Bogleheads: Our Boglehead Contest where we try to guess, a year in advance, the return of the S&P 500 index (without dividends) has started 2019 with a roar. It just topped the best first quarter in over 20 years . Our top-five Boglehead Leaders and their year-end guesses are: 1 dwickenh 2892.50 2 M...
by Taylor Larimore
Fri Apr 05, 2019 2:33 pm
Forum: Personal Investments
Topic: Reset AA, please critique.
Replies: 5
Views: 384

Re: Reset AA, please critique.

WhiteMaxima:

I counted 11 funds/securities in your 401k.

Three Total Market Index Funds will give you over 15,000 securities without overlap. Why add more complexity?

The Three-Fund Portfolio

Please read my "Simplicity" link below.

Best wishes
Taylor
by Taylor Larimore
Thu Apr 04, 2019 8:48 am
Forum: Personal Investments
Topic: Dead soon...Where to Invest?
Replies: 19
Views: 4238

Re: Dead soon...Where to Invest?

I guess I am trying to ask, what sort of options where I can have relatively limited risk and still make a few points per year safely? kiffer3: I believe a Single Premium Immediate Annuity (SPIA) for your wife could be a realistic solution. SPIAs are inappropriate for persons with poor health. * It...
by Taylor Larimore
Wed Apr 03, 2019 10:10 pm
Forum: Personal Investments
Topic: Investment advice wanted
Replies: 9
Views: 1126

The Three-Fund Portfolio

If I were to invest in stocks and bonds I would probably choose only Vanguard index funds. A typical portfolio would be 42% Vanguard Total Bond Market Index, 32% Vanguard Total Stock Market Index, 16% Vanguard Total International Stock Index, and 10% Vanguard REIT index. James999: What you describe...
by Taylor Larimore
Wed Apr 03, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8456

Re: Just Bought an Annuity

beyu wrote:Do they do a medical evaluation and penalize you for being health ?
beyu:

To purchase a Single Premium Immediate Annuity no medical evaluation is required.

Not sure, but I believe that some companies allow applicants in poor health to pay a lower premium.

Best wishes
Taylor
by Taylor Larimore
Wed Apr 03, 2019 8:38 pm
Forum: Personal Investments
Topic: VFIAX (S and P 500 Fund) verses VTSAX
Replies: 18
Views: 1378

Re: VFIAX (S and P 500 Fund) verses VTSAX

Taylor, on of your links says that in a non-retirement account, at Vanguard, either VTSAX or the ETF version is just fine, but with Fidelity or Schwab, use the ETF for tax reasons. Any insights anyone, on why at Vanguard either is fine, but not at the others? meercat8: Vanguard has a patent on thei...
by Taylor Larimore
Wed Apr 03, 2019 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8456

Re: Just Bought an Annuity

Doesn't that make a good case for laddering in SPIA's earlier rather than a bit too later? Bogleheads: In my opinion, it is usually better to wait until around age 80 before purchasing a SPIA. These are the reasons: * You might need the cash for an emergency. * If your health deteriorates an annuit...
by Taylor Larimore
Wed Apr 03, 2019 9:02 am
Forum: Personal Investments
Topic: 24 year old making first Roth IRA account. What do you guys think of these portfolios?
Replies: 24
Views: 1646

The Three-Fund Portfolio

benosis:

Welcome to the Bogleheads Forum!

Check this out: The Three-Fund Portfolio

Best wishes.
Taylor