Search found 3402 matches

by Beagler
Sun Mar 24, 2013 11:39 am
Forum: Investing - Theory, News & General
Topic: What is the PV of your SS benefits?
Replies: 40
Views: 2404

Re: What is the PV of your SS benefits?

YDNAL, You wrote. One last time, SS benefit consumption is NOT an option for the VAST majority of people. I am not sure what you mean by this, I'm guessing you mean SS benefit delay . Your statement as it stands makes no sense. I feel that in replying to your posts I am responding to the black knig...
by Beagler
Sun Mar 24, 2013 11:25 am
Forum: Investing - Theory, News & General
Topic: Vanguard Target Retirement Funds adding International Bonds
Replies: 27
Views: 3413

Re: Vanguard Target Retirement Funds adding Internaitonal Bo

Regarding Mr. Bogle ... It therefore isn't possible to know his current feelings on international bonds or whether Vanguard should include them in the target funds . Isn't possible ? If asked in an interview he wouldn't express an opinion? Having heard him speak in person, and seen many t.v. interv...
by Beagler
Sun Mar 24, 2013 11:20 am
Forum: Investing - Theory, News & General
Topic: Vanguard Target Retirement Funds adding International Bonds
Replies: 27
Views: 3413

Re: Vanguard Target Retirement Funds adding Internaitonal Bo

Out of curiosity..., why should I care what Mr. Bogle would have done in a parallel universe if an international bond fund or, for that matter, Target Retirement funds had been in existence during the period during which he was the head of Vanguard? Odd question to post on a board named in his hono...
by Beagler
Sun Mar 24, 2013 11:15 am
Forum: Investing - Theory, News & General
Topic: What is the PV of your SS benefits?
Replies: 40
Views: 2404

Re: What is the PV of your SS benefits?

bobcat2 wrote: I agree that about 70% of people when retiring cannot afford to delay SS benefits, but what about the other 30%? And don't most Bogleheads fall into that 30%?
Should SS become means-tested, or other tweaks make to payments, this PV computation becomes even more academic (and meaningless).
by Beagler
Sat Mar 23, 2013 8:51 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Target Retirement Funds adding International Bonds
Replies: 27
Views: 3413

Re: Vanguard Target Retirement Funds adding Internaitonal Bo

petrico wrote:
Beagler wrote:Would Mr. Bogle have added international bonds to the TR series?
Just out of curiosity....
Your curiosity is appreciated.
by Beagler
Sat Mar 23, 2013 11:32 am
Forum: Investing - Theory, News & General
Topic: Vanguard Target Retirement Funds adding International Bonds
Replies: 27
Views: 3413

Re: Vanguard Target Retirement Funds adding Internaitonal Bo

Would Mr. Bogle have added international bonds to the TR series?
by Beagler
Tue Mar 12, 2013 12:15 pm
Forum: Investing - Theory, News & General
Topic: Dividend Income
Replies: 9
Views: 979

Re: Dividend Income

Perhaps the favoring of dividend-paying stocks is such as mistake that Vanguard will recognize the folly of offering a fund utilizing such stocks and liquidate Wellington and Wellesley Funds, and ask the investors to deploy those funds into a purely indexed scenario. :wink:
by Beagler
Mon Mar 11, 2013 9:34 pm
Forum: Investing - Theory, News & General
Topic: High Yield/junk bond bubble?
Replies: 27
Views: 2561

Re: Say No To CDs

The role of fixed income in a balanced portfolio is to dampen portfolio volatility and enhance liquidity.... That's not a universal opinion. And not everyone ascribes to the Bernstein view that one holds bonds to purchase stocks when they're cheap (stockism hasn't infected all investors). Income is...
by Beagler
Sun Feb 24, 2013 8:35 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Target Retirement Date Funds Mix
Replies: 19
Views: 3394

Re: Is this a joke?

Because Vanguard just makes it up on the fly. sscritic: Is this statement (about Vanguard's stock/bond allocations in Target Funds) a joke, or are you serious? If "serious," what is the evidence?" Thank you and best wishes. Taylor As a corollary, I'd like to see the evidence Vanguard used when it r...
by Beagler
Mon Feb 18, 2013 1:11 pm
Forum: Investing - Theory, News & General
Topic: The Biggest Financial Asset in Your Portfolio
Replies: 53
Views: 5953

Re: The Biggest Financial Asset in Your Portfolio

The concept might be useful at the macro (population) level, but with the uncertainties surrounding so many workplaces today, it's nothing I'd hang my hat on at the portfolio level. Human capital for an IT grad in the early 80's is probably not the same as a 2013 IT graduate. As someone said above, ...
by Beagler
Mon Feb 11, 2013 1:32 pm
Forum: Investing - Theory, News & General
Topic: nytimes: complex investments prove risky as investors chase
Replies: 19
Views: 2746

Re: nytimes: complex investments prove risky as investors ch

Good point about TIPS complexity. What's the old adage about not investing in anything you can't explain to a 12 year old. (No, not the kind of financially sophisticated 12 year old that Larry, Taylor and Rick grew up to be :D )
by Beagler
Sun Feb 10, 2013 5:00 pm
Forum: Investing - Theory, News & General
Topic: Mean Reversion of Equity Prices: Less than Meets the Eye?
Replies: 38
Views: 3510

Re: Mean Reversion of Equity Prices: Less than Meets the Ey

Opinions vary. http://tinyurl.com/a7w823t "The Telltale Chart - http://www.vanguard.com/bogle_site/sp20020626.html You should note that there are several problems with using the info in these charts to argue against tilting to small and value. One is that even Jack Bogle is not immune to cherry pick...
by Beagler
Sat Feb 09, 2013 8:48 am
Forum: Investing - Theory, News & General
Topic: Target Retirement Funds to add international bonds
Replies: 76
Views: 11882

Re: Target Retirement Funds to add international bonds

Say when the TR were planned in 199x it was thought that Intl equity exposure should be quite low because of reasons X, Y, Z. Then as the research develops a range of 20-40% comes into more generally accepted view. Should the TR funds stay static? There have been no seminal articles in the financia...
by Beagler
Sat Feb 09, 2013 8:38 am
Forum: Investing - Theory, News & General
Topic: Finally arrived: The Vanguard Total International Bond Fund
Replies: 187
Views: 36616

Re: Finally arrived: The Vanguard Total International Bond F

I'm talking about rare events (Great Depression, WWII), and events that have never happened before (US govt default, USD hyperinflation). That's not quite correct. The US has defaulted several times e.g. The Continental Currency Default of 1779, The Default of 1790 and The Greenback Default of 1862...
by Beagler
Fri Feb 08, 2013 10:15 pm
Forum: Investing - Theory, News & General
Topic: "Think, Act, and Invest Like Warren Buffett" -- A Gem
Replies: 41
Views: 7993

Re: "Think, Act, and Invest Like Warren Buffett" -- A Gem

Larry, thank you for the explanation. I look foward to reading your new book.
by Beagler
Fri Feb 08, 2013 5:33 pm
Forum: Investing - Theory, News & General
Topic: "Think, Act, and Invest Like Warren Buffett" -- A Gem
Replies: 41
Views: 7993

Re: "Think, Act, and Invest Like Warren Buffett" -- A Gem

Larry, I note the title of the book and the disconnect with the Buffett quote I posted. Most of us CANNOT invest like Warren Buffett. Doesn't Mr. Buffett "think" about the next acquisition or sale of a specific stock or company? Aren't his investment "actions" far different than a passive investor?
by Beagler
Fri Feb 08, 2013 2:58 pm
Forum: Investing - Theory, News & General
Topic: "Think, Act, and Invest Like Warren Buffett" -- A Gem
Replies: 41
Views: 7993

Re: "Think, Act, and Invest Like Warren Buffett" -- A Gem

"Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing."

Warren Buffett
by Beagler
Mon Jan 28, 2013 9:09 pm
Forum: Investing - Theory, News & General
Topic: Is bond diversification as important as stock diversificatio
Replies: 104
Views: 9338

Re: Is bond diversification as important as stock diversific

larryswedroe wrote: You made the mistake of painting all munis with the same brush

Best wishes
Larry
And you made the mistake of attributing Mr. Swensen's statement to me; I simply reported a passage from his book.
by Beagler
Sun Jan 27, 2013 4:54 pm
Forum: Investing - Theory, News & General
Topic: Is bond diversification as important as stock diversificatio
Replies: 104
Views: 9338

Re: Is bond diversification as important as stock diversific

I don't know why Swensen would say don't own munis. From Unconventional Success, 2005, p. 117 Tax-exempt bond investors face the same set of misaligned interests that bedevil all non-Treasury bondholders. Aggressively priced debt issues that benefit the borrowers fail to compensate the lenders....C...
by Beagler
Sun Jan 27, 2013 3:13 pm
Forum: Investing - Theory, News & General
Topic: Is bond diversification as important as stock diversificatio
Replies: 104
Views: 9338

Re: Is bond diversification as important as stock diversific

I guess David Swensen is also absurd with his advice to ignore HY. IIRC Mr. Swensen also advises against owing munis (with the exception of money market munis). Is he wrong? Mr. Swensen appears to strongly favor US Treasuries. To some extent Mr. Bogle appears to part company with Mr. Swensen: "CAVE...
by Beagler
Sat Jan 26, 2013 12:41 pm
Forum: Investing - Theory, News & General
Topic: Bogle (Sept 2012):time to create Total Corpor Bond Indx Fund
Replies: 7
Views: 1594

Re: Bogle (Sept 2012):time to create Total Corpor Bond Indx

My only questions for Jack would be: Where were you in late 2008 and early 2009 when high quality corporate bonds were trading at record spreads over US government securities? Why unveil this plan now after 4 years of extraordinary returns for high quality corporate bonds? Mr. Bogle in 2007 "I like...
by Beagler
Sat Jan 26, 2013 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: hard to let go of IBM
Replies: 46
Views: 6101

Re: hard to let go of IBM

Perhaps you could donate some portion of it to a worthy charity.
by Beagler
Tue Jan 22, 2013 1:27 pm
Forum: Investing - Theory, News & General
Topic: Vanguard study on high yield
Replies: 22
Views: 3109

Re: Vanguard study on high yield

How long until they close their high-yield bond fund? :D

Anyone holding their breath?
by Beagler
Sat Jan 19, 2013 8:48 pm
Forum: Investing - Theory, News & General
Topic: NYT: Finding Advice for More Modest Retirement Investments
Replies: 44
Views: 6764

Re: NYT: Finding Advice for More Modest Retirement Investmen

What I don't understand is why isn't there a volunteer organization that does the same thing? After all, we have volunteer tax-prep outfits, volunteer home-building organzations, volunteers staffing hospitals, etc. Why don't Mitch Tuchman and Jon Stein just train a volunteer corps and run a web sit...
by Beagler
Sat Jan 19, 2013 8:45 pm
Forum: Investing - Theory, News & General
Topic: Brokers are dead men walking, they just don't know it
Replies: 60
Views: 7421

Re: Brokers are dead men walking, they just don't know it

Sorry, ladies and gents, the following (not written by Larry) does not sit well with me: Meanwhile, he’s gratified to think the message has been heard. In 1996, a year after Swedroe joined Buckingham and started writing, individual investors had 6.6 percent of their money in index funds. By 2011, t...
by Beagler
Sat Jan 19, 2013 8:39 pm
Forum: Investing - Theory, News & General
Topic: TSM fund holdings continue to shrink
Replies: 2
Views: 852

TSM fund holdings continue to shrink

First, the kerfuffle about a sandwich http://www.imagesup.net/?di=6135864466916 http://tinyurl.com/bahelcu Now this: On April 15th of last year TSM held 3302 stocks. As of today VG lists the total number of holdings at 3278 . http://www.imagesup.net/?di=1613586441819 http://tinyurl.com/bklrvqb Remem...
by Beagler
Wed Jan 16, 2013 12:24 pm
Forum: Investing - Theory, News & General
Topic: Washington Post Article About People Raiding 401k Accounts
Replies: 102
Views: 22578

Re: Washington Post Article About People Raiding 401k Accoun

Grt2bOutdoors wrote: I know Social Security will be there for generations to come, thought I would not exactly call it a bonus. It is a form of deferred savings - you paid into it some amount, now you will get some of that amount back.

FLEMMING V. NESTOR 363 U.S. 603
by Beagler
Wed Jan 16, 2013 10:02 am
Forum: Investing - Theory, News & General
Topic: Washington Post Article About People Raiding 401k Accounts
Replies: 102
Views: 22578

Re: Washington Post Article About People Raiding 401k Accoun

The replacement of pensions with 401Ks will result in the vast majority of Americans being quite poor in retirement. Perhaps a little perspective is in order. The African mother who has to walk miles for water (look into what some people in that part of the world have to do to get water on a daily ...
by Beagler
Wed Jan 16, 2013 7:21 am
Forum: Investing - Theory, News & General
Topic: Asset allocation within bonds?
Replies: 27
Views: 4326

Re: Asset allocation within bonds?

" I like the (taxable) IT bond index fund because it provides more stability than the LT index fund, and more income than the ST index fund.  The Total Bond Market Index Fund is fine, but I vaguely wonder about a bond fund that has 35% of its portfolio in non-bonds (i.e., GNMA securities, with their...
by Beagler
Mon Jan 14, 2013 1:19 pm
Forum: Investing - Theory, News & General
Topic: "You Don't Need to Beat the Market"
Replies: 1
Views: 670

"You Don't Need to Beat the Market"

http://www.nytimes.com/2013/01/13/your-money/in-investing-at-least-it-makes-sense-to-play-for-a-tie.html?_r=0 "Periodically, Mr. Bernstein says, some investment manager discovers a way to generate outsize returns. Whether the favored asset class is Internet shares or gold bullion or oil futures or m...
by Beagler
Mon Jan 14, 2013 1:10 pm
Forum: Investing - Theory, News & General
Topic: 8 Mistakes Sophisticated Investors Make With Their 401K"
Replies: 7
Views: 3080

Re: 8 Mistakes Sophisticated Investors Make With Their 401K"

From the article: "Mistake 2: Passing on Non-Name-Brand Funds Just as seasoned shoppers might gravitate toward Prada and Coach (COH) when discount-shopping, more knowledgeable investors might naturally veer toward the names they recognize in their 401(k) plan lineups. There's nothing inherently wron...
by Beagler
Sat Jan 12, 2013 5:45 pm
Forum: Investing - Theory, News & General
Topic: REITS as a separate asset class?
Replies: 49
Views: 13580

Re: REITS as a separate asset class?

... in the form that most individual investors have available to them (REIT index funds) REITs behave more like small cap value stocks than anything else.... Accordingly I would treat REITs as a small cap value equity investment and set your target asset allocations on that basis. FWIW, here's the ...
by Beagler
Sat Jan 12, 2013 2:39 pm
Forum: Investing - Theory, News & General
Topic: New tax on French equities purchases.
Replies: 4
Views: 783

Re: New tax on French equities purchases.

I bring this up because of the potential impact of the tax on long-term international returns.
by Beagler
Sat Jan 12, 2013 10:26 am
Forum: Investing - Theory, News & General
Topic: New tax on French equities purchases.
Replies: 4
Views: 783

New tax on French equities purchases.

From what I gather, effective December 1, 2012, the French government began assessing a transaction tax on net new purchases of French ADR's and ordinary shares on companies with a market capitalization in excess of €1B Euros. It appears this assessment begins Monday, February 11, 2013. The tax is e...
by Beagler
Thu Jan 10, 2013 3:24 pm
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Re: Divorce to save money

Well at least for high income couples who have kids, perhaps this would encourage one parent to stay at home with the kids instead of having them raised by a nanny. Or at least cut back to P/T if feasible. Wow, judgmental much? Perhaps both parties enjoy the fulfillment that comes from a solid care...
by Beagler
Wed Jan 09, 2013 1:16 pm
Forum: Investing - Theory, News & General
Topic: Bad time to invest in HY
Replies: 22
Views: 2627

Re: Bad time to invest in HY

Thanks for the dose of reality, Rick.
by Beagler
Wed Jan 09, 2013 1:11 pm
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Re: Divorce to save money

$27k per year is a heck of a marriage penalty.
by Beagler
Mon Jan 07, 2013 7:46 pm
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Re: Divorce to save money

A system as complex as the US Constitution (where the Prime Minister cannot just pass fiscal legislation, unamended, as he can in almost any other western country).... OK, I'll admit I occasionally miss the news, but unless there have been some really big changes in Washington, DC lately, I didn't ...
by Beagler
Mon Jan 07, 2013 1:34 pm
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Re: Divorce to save money

Upon retirement, or if incomes drop for other reasons, remarriage is easy.
Is saving $270k per decade (plus the earnings on that) woth it? For some it might. And think of those who avoid marriage to begin with for these taxation reasons.
by Beagler
Sun Jan 06, 2013 11:12 pm
Forum: Investing - Theory, News & General
Topic: Winning the Loser's Game - Charles Ellis
Replies: 15
Views: 7039

Re: Winning the Loser's Game - Charles Ellis

Based on the comments here I went to a local bookstore and read it today. A quick read, very basic: indexing 101. IMHO any of Rick's or Larry's books are better, and Dr. Bill's are more entertainingly-written.
by Beagler
Sun Jan 06, 2013 6:13 pm
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Re: Divorce to save money

So this really *is* tax policy pornography, then. No more so than articles about some couples having divorced in the past so one could qualify for public assistance in a nursing home. Also, we may see more of this: ... I do know many professionals in CA delaying marriage due to the tax penalty. The...
by Beagler
Sun Jan 06, 2013 4:39 pm
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Re: Divorce to save money

petrico wrote: Nothing like a good publicity stunt to start your new business off with a bang.

--Pete
Are you serious? The article is written in the hypothetical sense. The domain is available.
Image
by Beagler
Sun Jan 06, 2013 10:28 am
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Re: Divorce to save money

Must factor in legal fees Cost of one-time uncontested divorce not expensive. Change in wills and trust is a one-time event. cost of 2 homes, and much other duplication etc. POSSLQ No need for two homes. What other substantial duplication? Taxes are probably a very small part of the economics of di...
by Beagler
Sun Jan 06, 2013 9:17 am
Forum: Investing - Theory, News & General
Topic: NY Times article on social security
Replies: 10
Views: 1877

Re: NY Times article on social security

Let's also remember that SS was NEVER intended to be a stand-alone retirement program, only meant to keep people out of poverty. (It was meant to supplement personal savings, etc.)
by Beagler
Sun Jan 06, 2013 9:13 am
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7605

Divorce to save money

http://www.thefiscaltimes.com/Articles/2013/01/04/For-High-Income-Earners-Time-for-a-Tax-Divorce.aspx#page1 "The new law raises taxes on couples making more than $450,000 and individuals making more than $400,000. When their accountant told them they may have to limit their deductions because of the...
by Beagler
Sat Jan 05, 2013 11:39 pm
Forum: Investing - Theory, News & General
Topic: BOGLEHEADS 11 REPORT IS PUBLISHED!
Replies: 28
Views: 3225

Re: BOGLEHEADS 11 REPORT IS PUBLISHED!

Please tell me why, given the following quotes from the document, this does not violate Forum policy?

[Images containing political comments from the BH 11 Convention removed by admin LadyGeek. See comments below.]