Search found 24057 matches

by Taylor Larimore
Sun Nov 04, 2018 7:30 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Why International Diversification Works
Replies: 119
Views: 9398

How Much International Stock? A Suggestion.

Bogleheads:

"How much international stock" is one of the controversial subjects in investing. I wrote this post two years ago to help answer the question:

How Much International Stock?

Best wishes.
Taylor
by Taylor Larimore
Sat Nov 03, 2018 12:45 pm
Forum: Investing - Theory, News & General
Topic: Is Small Value Still A Winner?
Replies: 96
Views: 6955

Market-Weight in U.S. Stocks

Diversifying across Value and Growth, Small and Large should give you a less volatile portfolio. You can't get this with a Total Market Index, you need to tilt to get factor diversification. Bogleheads: Sorry, I disagree. Total Stock Market Index Funds ALREADY hold the U.S. market weight in Value, ...
by Taylor Larimore
Sat Nov 03, 2018 7:01 am
Forum: Investing - Help with Personal Investments
Topic: My Grandmother has 80% stocks
Replies: 55
Views: 5441

A wise grandmother.

I asked why she is still invested so aggressively. She said the reason is because she has held these Vanguard funds for so many years, and if she sold, the tax bill would be enormous. simplesauce: Your wise old grandmother is tax-savvy. If she does not need to sell, she shouldn't. At death, all tho...
by Taylor Larimore
Fri Nov 02, 2018 8:55 pm
Forum: Investing - Theory, News & General
Topic: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio
Replies: 220
Views: 38209

Re: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio

Don't forget to post your positive reviews on Amazon since that helps other readers decide if Taylor's book is right for them. I posted a positive review! Thanks again for the great book Taylor. Abuss: I thank you and others for your "Reviews." A good review means more sales and therefore more roya...
by Taylor Larimore
Fri Nov 02, 2018 12:46 pm
Forum: Investing - Theory, News & General
Topic: What is an "advanced" investor?
Replies: 34
Views: 2578

Re: What is an "advanced" investor?

Ron Scott asked: "What is an advanced investor?" Anyone who believes in The Bogleheads Investment Philosophy: 1 Develop a workable plan 2 Invest early and often 3 Never bear too much or too little risk 4 Diversify 5 Never try to time the market 6 Use index funds when possible 7 Keep costs low 8 Mini...
by Taylor Larimore
Thu Nov 01, 2018 3:40 pm
Forum: Investing - Theory, News & General
Topic: Is Small Value Still A Winner?
Replies: 96
Views: 6955

Re: Is Small Value Still A Winner?

Taylor, Mr. Bogle's "Telltale Chart" speech has been pretty effectively debunked. Indeed our own Siamond has done work on this and it contradicts Bogle's assertions. nedsed: I am not smart enough to know whether Mr. Bogle or Siamond is correct. I DO know it probably doesn't matter: "Using past perf...
by Taylor Larimore
Thu Nov 01, 2018 3:18 pm
Forum: Investing - Theory, News & General
Topic: 2018 BOGLEHEAD CONTEST LEADERS
Replies: 2
Views: 623

Re: 2018 BOGLEHEAD CONTEST LEADERS

Xanadu wrote:
Wed Oct 31, 2018 8:15 pm
Hi Taylor. I believe that link is to the 2017 contest.
Zanadu:

I believe you are right. I'll edit it immediately.

Thank you and best wishes
Taylor
by Taylor Larimore
Wed Oct 31, 2018 8:52 pm
Forum: Investing - Theory, News & General
Topic: Is market cap weighting a dumb idea?
Replies: 64
Views: 2999

Re: Is market cap weighting a dumb idea?

If you believe that markets are efficient, indexing by market cap isn't dumb and will more than likely be in the top half of performance among the many different ways to index. I listen to Meb Faber and he is way smarter than i am , but i believe i get better returns by strategically allocating my ...
by Taylor Larimore
Wed Oct 31, 2018 7:53 pm
Forum: Investing - Theory, News & General
Topic: Is Small Value Still A Winner?
Replies: 96
Views: 6955

Bogle: "The Telltale Chart"

Bogleheads:

For those of us who believe in the wisdom of Jack Bogle, you will find his opinion about small-value stocks here:

The Telltale Chart

Best wishes
Taylor
by Taylor Larimore
Wed Oct 31, 2018 7:27 pm
Forum: Investing - Theory, News & General
Topic: 2018 BOGLEHEAD CONTEST LEADERS
Replies: 2
Views: 623

2018 BOGLEHEAD CONTEST LEADERS

Bogleheads: The S&P 500 index began the year at 2673.61. Today, at the end of October, the S&P 500 Index closed at 2711.74. Below are our current Boglehead Contest Leaders and their year-end guesses made last January. 1 jjbychko 2740.00 2 jimcrawford01 2743.17 3 KarenC 2736.45 4 randomizer 2746.13 5...
by Taylor Larimore
Wed Oct 31, 2018 6:03 pm
Forum: Investing - Theory, News & General
Topic: Is Small Value Still A Winner?
Replies: 96
Views: 6955

"Lies, damned lies and statistics"

Bogleheads:

Without pointing at anyone, the first two charts are a good example of Lies, damned lies and statistics

Best wishes.
Taylor
by Taylor Larimore
Wed Oct 31, 2018 3:19 pm
Forum: Investing - Theory, News & General
Topic: private TSP services and mis-leading data
Replies: 11
Views: 7936

Reduce stocks to your "Sleep Level."

I was considering this Tsp Pilot program as I get nervous when the market tanks, but I have resisted subscribing. I have left my asset allocation the same , and try my best to set and forget it. riptide: We should expect our portfolio's to "tank" many times during our investment lifetime. If you ge...
by Taylor Larimore
Wed Oct 31, 2018 2:15 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2308
Views: 1457610

Re: The Three-Fund Portfolio

For those who want more Mid and Small cap exposure than S&P (IVV, VOO, etc), are there any particularly strong candidates at Schwab, Vanguard, or Fidelity? Other than VO, VB, SCHA, IJR, etc. On the equity side I want 60-70% (at most) in Large Cap/S&P and the balance evenly split between Mid and Sma...
by Taylor Larimore
Tue Oct 30, 2018 9:03 pm
Forum: Investing - Help with Personal Investments
Topic: Help converting to Three Fund Portfolio
Replies: 5
Views: 876

Re: Help converting to Three Fund Portfolio

AMG79: I believe you are a good candidate for Vanguard Personal Advisor Service . The Advantages: * Professional advice and reassurance you are doing the right thing. * Vanguard will handle your transactions. Enjoy the advantages of having all funds with one good company. * Low Cost. Only 0.3%/year...
by Taylor Larimore
Tue Oct 30, 2018 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: Help converting to Three Fund Portfolio
Replies: 5
Views: 876

Re: Help converting to Three Fund Portfolio

AMG79: I believe you are a good candidate for Vanguard Personal Advisor Service . The Advantages: * Professional advice and reassurance you are doing the right thing. * Vanguard will handle your transactions. Enjoy the advantages of having all funds with one good company. * Low Cost. Only 0.3%/year ...
by Taylor Larimore
Tue Oct 30, 2018 11:09 am
Forum: Investing - Theory, News & General
Topic: Morningstar gives highest ranking to Vanguard's 529 College Savings Plan
Replies: 3
Views: 478

Morningstar gives highest ranking to Vanguard's 529 College Savings Plan

Bogleheads:

Morningstar has announced it's 2018 ranking of 62 college 529 Savings Plans. The Vanguard Plan is among the best and is available to residents in all states.

Morningst Names the Best 529 College Savings Plans

Best wishes.
Taylor
by Taylor Larimore
Mon Oct 29, 2018 7:13 pm
Forum: Investing - Theory, News & General
Topic: Giving up on GoogleSpreadsheets. Need alternative.
Replies: 29
Views: 3898

Re: Giving up on GoogleSpreadsheets. Need alternative.

My portfolio has gotten way too complex and GoogleSpreadsheets has become too cumbersome to use. Plus there have been repeated problems this year with pulling data on some funds and ETFs, especially Vanguard. What are the best tools out there that will let me enter multiple portfolios each with mul...
by Taylor Larimore
Mon Oct 29, 2018 10:41 am
Forum: Investing - Theory, News & General
Topic: Jonathan Clements: November "Bogleheads on Investing" podcast guest
Replies: 11
Views: 1165

Re: Jonathan Clements: November "Bogleheads on Investing" podcast guest

Rick:

In your first three podcasts, you have corralled three of the most knowledgeable investment authorities in the business. Thank you for giving us the opportunity to learn from their teachings.

Congratulations and best wishes.

Taylor
by Taylor Larimore
Mon Oct 29, 2018 9:17 am
Forum: Investing - Theory, News & General
Topic: What's the Problem with Broker Advice? It's not Advice.
Replies: 16
Views: 2076

Re: What's the Problem with Broker Advice? It's not Advice.

Brokers are not fiduciaries. If a comparable low fee fund or service is available, they don't have to tell you about it. The can recommend the high fee fund or service as long as it is "suitable" for your needs. This is why getting investment "advice" from Schwab or TD or any brokerage firm isn't t...
by Taylor Larimore
Sun Oct 28, 2018 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: [Tax Loss Harvesting - iShares lots to Vanguard]
Replies: 9
Views: 455

Good Article About "Wash Sales"

Bogleheads:

Last year Charles Schwab & Co published this article about "Wash Sales":

A Primer On Wash Sales

Best wishes
Taylor
by Taylor Larimore
Sat Oct 27, 2018 8:22 pm
Forum: Investing - Theory, News & General
Topic: Evaluating Tax Efficiency of Index Funds and ETFs
Replies: 7
Views: 595

Re: Evaluating Tax Efficiency of Index Funds and ETFs

Triceratop, Is there a publicly available number (perhaps morningstar’s tax cost ratio?) that’s an approximation of tax efficiency? Is there a sample calculation for how you calculated tax efficiency? Thanks in advance. scrp21: I use Morningstar to get a rough idea of a fund's tax-efficiency. If yo...
by Taylor Larimore
Sat Oct 27, 2018 12:09 pm
Forum: Investing - Theory, News & General
Topic: "The Biggest Stock Scams Of All Time"
Replies: 4
Views: 1488

"The Biggest Stock Scams Of All Time"

Bogleheads:

This is a short and fascinating article showing the importance of "Diversification."

The Biggest Stock Scams Of All Time

Best wishes
Taylor
by Taylor Larimore
Sat Oct 27, 2018 11:44 am
Forum: Investing - Theory, News & General
Topic: A simple moving average timing model using stocks and treasuries
Replies: 40
Views: 2679

"The Track Record of the 200 Day Moving Average"

Bogleheads:

Before using the 200-Day Moving Average to market-time your stock allocation -- Read this:

How To Know When It's Time To Leave The Party

Best wishes.
Taylor
by Taylor Larimore
Fri Oct 26, 2018 8:53 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2308
Views: 1457610

Re: The Three-Fund Portfolio

jwblue: If you will go back to the Opening Post you will read this: Asset Allocation: Use this Investor Questionnaire to help you decide your very important stock/bond allocation. I suggest International stocks = 20% of equity. I hope this solves your problem. If not, please post your question(s) on...
by Taylor Larimore
Fri Oct 26, 2018 9:11 am
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2308
Views: 1457610

Safety of Total Bond Market?

I'm not sure that a mere 10 year period says much about the safety of BND. Leesbro63: Since the inception of Vanguard Total Bond Market Index Fund in 1986 (32 years ago), the fund's worst annual return was -2.77%. In 1986 (it gained +16% in 1987). In the 2008 Bear Market for stocks, TBM gained +5%....
by Taylor Larimore
Fri Oct 26, 2018 8:51 am
Forum: Investing - Theory, News & General
Topic: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"
Replies: 82
Views: 9192

Re: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"

I took a tax-loss whenever losses reached about $1,000. Taylor, I would like to understand better what your actual TLH practice is, so let me ask a few questions. Does this mean on any day when you suffer a $1000 loss you TLH, such that on 4 out of the last 5 days you have sold shares to pick up th...
by Taylor Larimore
Thu Oct 25, 2018 3:59 pm
Forum: Investing - Theory, News & General
Topic: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"
Replies: 82
Views: 9192

Re: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"

restingonmylaurels: I will try to answer your questions in blue: I have a query about timing of a TLH. Clearly one would want to optimize the investment's value, tax loss, and income earned. I know when I TLH the funds into the MMR, I start to earn less income. I suspect the TBM's portfolio valuatio...
by Taylor Larimore
Thu Oct 25, 2018 2:56 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2308
Views: 1457610

Re: The Three-Fund Portfolio

For the fixed income allocation portion, what is the case for Total Bond Market (BND) vs 20+ Yr Treasury bonds (TLT)? I understand the fallacies and risks of back-testing, but tests of 3-fund or even 2-fund portfolios with TLT vs BND over various time periods show a 1.5+ CAGR advantage for TLT with...
by Taylor Larimore
Wed Oct 24, 2018 10:06 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 7990
Views: 1621920

Jack Bogle: "When the waters are rough . ."

Bogleheads:
There will be times when the waters are rough, and fear, even panic will hold sway. When these trying times come, be sure to, yes, Stay the Course.
Source: Jack Bogle's "Forward" in The Bogleheads' Guide to The Three-Fund Portfolio.

Best wishes.
Taylor
by Taylor Larimore
Wed Oct 24, 2018 7:14 pm
Forum: Investing - Theory, News & General
Topic: BOGLEHEADS 2018 VIDEOS
Replies: 22
Views: 3625

Rich Guerra

Bogleheads:

Rich Guerra (username VELO724X) is an unsung hero in our Boglehead community. We are all indebted to him for his wonderful, professional quality videos made in 2018 and years past.

Thank you, Rich.
Taylor
by Taylor Larimore
Wed Oct 24, 2018 6:09 pm
Forum: Investing - Theory, News & General
Topic: Set it and forget it
Replies: 47
Views: 9271

Re: Set it and forget it

For my taxable account. If I am interested in selling majority of my stocks to start putting into a fund say Vanguard Target Retirement 2055 Fund (VFFVX) or VTI . What advice would you all say on how to proceed? For Selling Should I start by selling any stocks I have a loss? Or sell all my losses +...
by Taylor Larimore
Tue Oct 23, 2018 3:19 pm
Forum: Investing - Help with Personal Investments
Topic: Constructing a 100% equity diversified Factor portfolio
Replies: 14
Views: 1626

The Three-Fund Portfolio

Daedalu5:

You may be interested in the low cost, low maintenance, and many benefits of The Three-Fund Portfolio.

Best wishes
Taylor
by Taylor Larimore
Mon Oct 22, 2018 8:49 pm
Forum: Investing - Help with Personal Investments
Topic: Timing the market - Some say it’s possible?
Replies: 44
Views: 2786

Re: Timing the market - Some say it’s possible?

Believing Boggle is almost as wrong as believing those hedge fund guys. Starfish: You could not be more wrong. I once wrote a market-timing newsletter in the 80's -- maybe the most embarrassing mistake I ever made. Fortunately, I read Mr. Bogle's first book, "Bogle on Mutual Funds" published in 199...
by Taylor Larimore
Mon Oct 22, 2018 7:11 pm
Forum: Investing - Help with Personal Investments
Topic: Timing the market - Some say it’s possible?
Replies: 44
Views: 2786

Re: Timing the market - Some say it’s possible?

Ok, so I’ve been a part of this community for some time and have been with Vanguard almost four years now as I believe in the philosophy. Currently use an advisor but when I retire soon I’ll manage myself. I had a debate this weekend with someone who said you can time the market. Howard Marks name ...
by Taylor Larimore
Mon Oct 22, 2018 6:15 pm
Forum: Investing - Theory, News & General
Topic: Set it and forget it
Replies: 47
Views: 9271

Re: Set it and forget it

I assisted my 23 year old daughter in opening a Roth IRA with a single investment - a 2060 Vanguard Target Date Fund. She is pretty compliant with instruction, but has no interest in popping the hood to tinker. She will thank me someday after there is a mound of dirt on top of me. This is the perfe...
by Taylor Larimore
Mon Oct 22, 2018 3:11 pm
Forum: Investing - Help with Personal Investments
Topic: switch bonds to money mkt?
Replies: 8
Views: 1206

Re: switch bonds to money mkt?

I read an article in the NYT today that says money market yields are now around 2% and that the yield is attractive compared to bond funds. The article is at https://www.nytimes.com/2018/10/12/business/income-investors-finally-have-a-chance-to-cash-in.html “The boost in yield you get from owning in...
by Taylor Larimore
Mon Oct 22, 2018 2:30 pm
Forum: Investing - Theory, News & General
Topic: Total Bond Market Fund - interest rates rising!
Replies: 147
Views: 16589

Re: A History of Total Bond Market, Inflation and S&P 500 Stocks

Bogleheads: I purchased Vanguard's Total Bond Market for our personal portfolio in 1986. In 2000, I again selected Vanguard Total Bond Market Index Fund for The Three-Fund Portfolio . Vanguard Total Bond Market Index Fund has served investors well and it is now the largest bond fund in the world. T...
by Taylor Larimore
Mon Oct 22, 2018 2:10 pm
Forum: Investing - Theory, News & General
Topic: "Investing versus debt pay-off?"
Replies: 31
Views: 1985

"Investing versus debt pay-off?"

Bogleheads:

Jim Dahle, editor of The White Coat Investor, has written an excellent article attempting to answer a perennial Boglehead question: "Investing versus debt pay-off?" The link is below:

Investing versus debt pay-off

Best wishes.
Taylor
by Taylor Larimore
Mon Oct 22, 2018 1:29 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2308
Views: 1457610

"VTSAX Review: Vanguard Total Stock Market Index Fund"

Bogleheads: The Wall Street Physician has written an excellent article about the Vanguard Total Stock Market Index Fund. This is one of the funds that I that selected for The Three-Fund Portfolio. This is the author's "Conclusion.": Vanguard Total Stock Market Index Fund (VTSAX) is the largest mutua...
by Taylor Larimore
Mon Oct 22, 2018 12:53 pm
Forum: Investing - Theory, News & General
Topic: Set it and forget it
Replies: 47
Views: 9271

Re: Set it and forget it

Do not agonize over finding an optimal asset allocation, or picking the optimal fund in each asset class, or thinking you're missing something by not including complicated investment strategies promoted by others (usually for their benefit). That's all a waste of time and money. The best investors ...
by Taylor Larimore
Mon Oct 22, 2018 12:42 pm
Forum: Investing - Help with Personal Investments
Topic: My Edward Jones IRA is out performing my Vanguard 401K
Replies: 76
Views: 10060

A test question

Bogleheads:

A good test question for your advisor is: "I have heard that the average index fund beats the average managed fund. Is this true?"

If an advisor disagrees, they are either lying or misinformed. In either case, you don't want them managing your money.

Best wishes.
Taylor
by Taylor Larimore
Sun Oct 21, 2018 8:44 pm
Forum: Investing - Help with Personal Investments
Topic: My Edward Jones IRA is out performing my Vanguard 401K
Replies: 76
Views: 10060

Re: My Edward Jones IRA is out performing my Vanguard 401K

Cashed Out:

As I wrote earlier, I would like to know approximately how long you have held each of your listed funds? There is evidence of "churning" (selling low and buying high to increase compensation) .

Thank you and best wishes.
Taylor
by Taylor Larimore
Sun Oct 21, 2018 6:17 pm
Forum: Investing - Theory, News & General
Topic: Is there a case for Active in fixed income?
Replies: 16
Views: 1667

Re: Is there a case for Active in fixed income?

hdas: The case for active in fixed income is very weak. According to SPIVA who tracks active funds vs. index funds in 14 bond categories, during the past 15 years, managed bond funds underperformed their index benchmark in ALL 14 bond fund categories. https://us.spindices.com/documents/spiva/spiva-u...
by Taylor Larimore
Sat Oct 20, 2018 9:40 pm
Forum: Investing - Help with Personal Investments
Topic: My Edward Jones IRA is out performing my Vanguard 401K
Replies: 76
Views: 10060

Re: My Edward Jones IRA is out performing my Vanguard 401K

CashedOut: Please add the (months) you have owned each of your funds. Use the "Edit" link (looks like a crayon) at the top/right of your post. The reason I ask is that Edward Jones salespeople often exchange underperforming funds for overperforming funds. This has two purposes: 1) The Portfolio alwa...
by Taylor Larimore
Sat Oct 20, 2018 5:12 pm
Forum: Investing - Theory, News & General
Topic: Buying VWIUX Today [Vanguard Intermediate-Term Tax-Exempt Muni Bond]
Replies: 48
Views: 4754

Re: Buying VWIUX Today [Vanguard Intermediate-Term Tax-Exempt Muni Bond]

I have both VWIUX (tax exempt) and the usual VBTLX (tot bond) in my taxable account for some equity ballast. With rates up, it looks more like a wash between the tax exempt vs the total bond - as far as net yields between the two for higher tax brackets. ps56k: Bonds are for safety. Be very careful...
by Taylor Larimore
Sat Oct 20, 2018 5:01 pm
Forum: Investing - Help with Personal Investments
Topic: Constructing a 100% equity diversified Factor portfolio
Replies: 14
Views: 1626

Re: Constructing a 100% equity diversified Factor portfolio

What do you think? I’m trying to be extremely aggressive Daedalu5: "Aggressive" is the industry's euphemism for "risky." I think a "100% equity diversified factor portfolio" is very unwise. Factor Investing -- What Went Wrong "By and large I do not approve of factor funds." -- Jack Bogle Best wishes...
by Taylor Larimore
Sat Oct 20, 2018 4:32 pm
Forum: Investing - Theory, News & General
Topic: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"
Replies: 82
Views: 9192

Re: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"

Thank you for the feedback, Iceport. I changed 60 days to 61 and added the following paragraph to clarify that the purchase of a similar fund is not required (even if it is recommended). "Note: it is not required that you purchase a similar fund. You can also choose to allow that money to sit out o...
by Taylor Larimore
Sat Oct 20, 2018 4:09 pm
Forum: Investing - Theory, News & General
Topic: Total Bond Market Fund - interest rates rising!
Replies: 147
Views: 16589

A History of Total Bond Market, Inflation and S&P 500 Stocks

Bogleheads: I purchased Vanguard's Total Bond Market for our personal portfolio in 1986. In 2000, I again selected Vanguard Total Bond Market Index Fund for The Three-Fund Portfolio . Vanguard Total Bond Market Index Fund has served investors well and it is now the largest bond fund in the world. Th...
by Taylor Larimore
Sat Oct 20, 2018 3:34 pm
Forum: Investing - Help with Personal Investments
Topic: Do Any Annuities Offer a "Free Lunch"?
Replies: 21
Views: 1966

Re: Do Any Annuities Offer a "Free Lunch"?

I recently recruited the help of my financial advisor friend to reach my goal of early retirement*. He suggested an annuity, specifically this one: http://cm.axa-equitable.com/res/prd/be97fc90f28d7d1bc62d656454c4fe1f.pdf joer1212: Ask your advisor-friend to let you read the Prospectus (1,752 pages)...