Search found 8830 matches

by Doc
Thu Nov 22, 2018 9:03 am
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

As an aside, it's sometimes hard to get the spreadsheet YIELD function to come up with exactly the same yield displayed by a broker. I've even seen Fidelity and Vanguard display the exact same price but a slightly different yield, but maybe that was for CDs. Or it could be that their price actually...
by Doc
Wed Nov 21, 2018 5:27 pm
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

Yes, this explains it. Good sleuthing. I didn't think of looking at the 52-week bill issued about six months ago, but that's it. I didn't look either. As ofckrupke noted the current auction announcement has the info. A coupon bond is a little different. The Treasury won't know if the auction will p...
by Doc
Wed Nov 21, 2018 10:49 am
Forum: Investing - Theory, News & General
Topic: Why Active Funds Have Outperformed in Theory
Replies: 20
Views: 2213

Re: Why Active Funds Have Outperformed in Theory

Sure, but unfortunately I don't have a way to buy active funds without paying fees, so... So ... buy active funds that have low fees. This is my general screen: (Equity Style Box = whatever I'm looking for and (Expense Ratio <= Category average) and (No-Load Funds = Yes) and (Turnover Ratio <= Cate...
by Doc
Wed Nov 21, 2018 10:44 am
Forum: Investing - Theory, News & General
Topic: What's in your Investor Policy Statement about Bear Markets?
Replies: 52
Views: 3578

Re: What's in your Investor Policy Statement about Bear Markets?

Mine isn't written. I re-balance at -5pts from target. I am exactly on target today. I have a long way to go. Since the accepted definition of a "bear market" is a drop of 20% and I have a 50/50 AA target a bear market would put me at my 5% rebalncing point if I was actually at 50/50 when that bear...
by Doc
Wed Nov 21, 2018 10:15 am
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

The CUSIPs are different. The CUSIP for the 11/23/2018 issue is 912796QH5, while the CUSIP for the one issued 5/24/2018 is 912796QK8. The 5/24/18 bill QK8 is a 26 week bill. We are looking for a 52 week bill that will mature on the same date as the 26 week bill just auctioned. That 52 week bill is ...
by Doc
Wed Nov 21, 2018 7:36 am
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

Also out of my depth, but yeah, it's probably because it is a reissue. If it's a reissue you may be buying an existing bill in the market and the settlement is therefore T1. On the other hand if you bought at auction, reissue or not, the settlement would be Friday as specified in the announcement. ...
by Doc
Tue Nov 20, 2018 5:52 pm
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

Also out of my depth, but yeah, it's probably because it is a reissue. If it's a reissue you may be buying an existing bill in the market and the settlement is therefore T1. On the other hand if you bought at auction, reissue or not, the settlement would be Friday as specified in the announcement. ...
by Doc
Tue Nov 20, 2018 4:07 pm
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

I decided to buy some with my cash at Schwab, partially to find out if it actually settles on 11/21. I'm over my head here but some points: The security description says " Price based on 50 bonds and a settlement date of 11/21/2018". (Forget the 50.) It does not say that it settle on the 21st only ...
by Doc
Tue Nov 20, 2018 2:22 pm
Forum: Investing - Theory, News & General
Topic: Why Active Funds Have Outperformed in Theory
Replies: 20
Views: 2213

Why Active Funds Have Outperformed in Theory

Morningstar Fund Spy Summary Conventional wisdom holds that markets are zero-sum. However, over the trailing 20 years ended Sept. 30, 2018, the average dollar invested in U.S. stock funds outperformed its blended index and 80% of other funds before fee s. This phenomenon was not exploitable, as inve...
by Doc
Tue Nov 20, 2018 1:55 pm
Forum: Investing - Theory, News & General
Topic: Vanguard lowering Admiral level to $3,000?
Replies: 225
Views: 18425

Re: Vanguard lowering Admiral level to $3,000?

For other funds, potential dividends accumulate in the NAV and reduce the NAV when they are declared, usually monthly, quarterly, or semi-annually. Right but if you sell them you get the accrued dividends to date (I think). Vg evidently makes the sale ex-div (I hope). This makes no sense. On Januar...
by Doc
Tue Nov 20, 2018 11:06 am
Forum: Investing - Theory, News & General
Topic: Vanguard lowering Admiral level to $3,000?
Replies: 225
Views: 18425

Re: Vanguard lowering Admiral level to $3,000?

Dumb question time: Do I need to worry about "timing" the conversion from Investor class to Admiral class so that I dont miss out on dividends? I would hate to convert and lose a month or quarters worth of dividends if I don't get into the new fund before the cutoff for the next distribution. I bel...
by Doc
Tue Nov 20, 2018 11:00 am
Forum: Investing - Theory, News & General
Topic: Why do people think CD rates will keep going up?
Replies: 57
Views: 7914

Re: Why do people think CD rates will keep going up?

Re: Where Larry lives: St Louis, MO? Somehow I had formed that impression of where he was based - perhaps completely erroneously. Well somewhat erroneously. Larry's office is in Clayton MO not St Louis MO. He lives in St Louis County , MO. St Louis City "divorced" itself from St Louis County in 1877...
by Doc
Tue Nov 20, 2018 9:45 am
Forum: Investing - Theory, News & General
Topic: morningstar not displaying charts?
Replies: 11
Views: 769

Re: morningstar not displaying charts?

chart is restored for today, all is well carryon All is not well. The chart function associated with the new quote page is significantly different. Bells and whistles that are desirable for traders have been added and things that compare mutual funds over varying time periods (rolling returns) are ...
by Doc
Mon Nov 19, 2018 12:45 pm
Forum: Investing - Theory, News & General
Topic: Vanguard lowering Admiral level to $3,000?
Replies: 225
Views: 18425

Re: Vanguard lowering Admiral level to $3,000?

For Vanguard Mutual funds as of November 19, 2018, on the Vanguard Brokerage Services® commission & fee schedules

for Most index funds INVESTOR SHARES Not available to new investors, ADMIRAL™ SHARES minimum$3,000.

https://investor.vanguard.com/investing ... tual-funds
by Doc
Sun Nov 18, 2018 9:13 pm
Forum: Investing - Theory, News & General
Topic: Why do people think CD rates will keep going up?
Replies: 57
Views: 7914

Re: Why do people think CD rates will keep going up?

If it made sense at one point in time, why would it not make sense today? Yes, the yield curve changes, but that's why such rules-of-thumb are useful; they provide guidance under a broad array of possibilities. The world changes. Just last year I sold my horse. Next year we may only have Uber. :win...
by Doc
Sun Nov 18, 2018 8:13 pm
Forum: Investing - Theory, News & General
Topic: Why do people think CD rates will keep going up?
Replies: 57
Views: 7914

Re: Why do people think CD rates will keep going up?

But currently 2Yr is at that sweet spot (as anything beyond that gets something like 2-3 bps of additional yield premium per year of duration). This is the question that I have been trying to get an answer to for the last few years. The 20 bps per year made sense in 2007 (?) when Swedroe published ...
by Doc
Sun Nov 18, 2018 5:59 pm
Forum: Investing - Theory, News & General
Topic: morningstar not displaying charts?
Replies: 11
Views: 769

Re: morningstar not displaying charts?

See the green bar on the top of the quote page: Coming Soon: See a Preview of Our New Fund Quote Page :( Yes, and at the moment, it's a mess. The "new fund quote page" doesn't have a chart. The performance tab on the new fund quote page has a 10-year chart with a linear Y axis. The "interactive cha...
by Doc
Sun Nov 18, 2018 4:33 pm
Forum: Investing - Theory, News & General
Topic: Why do people think CD rates will keep going up?
Replies: 57
Views: 7914

Re: Why do people think CD rates will keep going up?

Larry discussed the issue in this thread years ago, as did many others. It's just a rule-of-thumb, not a hard-and-fast rule. Thanks will. That's the most recent Larry quote I gave seen on the subject. A quick look makes me think that the 20 bps has disappeared for anything longer than about 5 years...
by Doc
Sun Nov 18, 2018 3:33 pm
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

Doc wrote: ↑Sun Nov 18, 2018 8:13 am Kevin M wrote: ↑Sat Nov 17, 2018 8:14 pm I was thinking of entering an order in an IRA for some 6-month Treasury bills at the auction that closes on Monday. Vanguard is showing the estimated yield for the 6-month at about 2.51%, while Prime MM SEC yield now is 2...
by Doc
Sun Nov 18, 2018 3:02 pm
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

Treasury Money Market is another option ... it has the same yield as Prime... I don't see it. As of this posting, Treasury and Federal MM have exactly the same SEC yield, while Prime is 11bp higher. Vanguard Treasury Money Market Fund (VUSXX) - It may not be a sweep fund. Vg is showing the Federal ...
by Doc
Sun Nov 18, 2018 1:02 pm
Forum: Investing - Theory, News & General
Topic: morningstar not displaying charts?
Replies: 11
Views: 769

Re: morningstar not displaying charts?

See the green bar on the top of the quote page:

Coming Soon: See a Preview of Our New Fund Quote Page

:(
by Doc
Sun Nov 18, 2018 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Water-Sewer line insurance
Replies: 34
Views: 1912

Re: Water-Sewer line insurance

Our city and several others in the area have a "city sewer lateral program". IIRC a sum of money is allocated each year and it can be used by home owners on a first come first serve basis. If you Goggle "city sewer lateral program" you might find some more data relevant to your own situation. When I...
by Doc
Sun Nov 18, 2018 9:30 am
Forum: Investing - Theory, News & General
Topic: morningstar not displaying charts?
Replies: 11
Views: 769

Re: morningstar not displaying charts?

Still not working. There was a thread on M*s site yesterday but now the "discuss" tab is also unavailable.

Oh my, in the last few minutes the chart tab disappeared.

And now it's back. Maybe I have fat fingers this AM.
by Doc
Sun Nov 18, 2018 9:23 am
Forum: Investing - Theory, News & General
Topic: Why do people think CD rates will keep going up?
Replies: 57
Views: 7914

Re: Why do people think CD rates will keep going up?

The DFA/Swedroe 'rule' with CDs is to keep extending the maturity until the point where adding one additional year would result in additional yield of under .2% (20 basis points). That rule was published is his bond book back before the financial crisis. Does any one know if has been revised since ...
by Doc
Sun Nov 18, 2018 9:13 am
Forum: Investing - Theory, News & General
Topic: Prime MM vs 6-month Treasury in IRA
Replies: 94
Views: 10225

Re: Prime MM vs 6-month Treasury in IRA

I was thinking of entering an order in an IRA for some 6-month Treasury bills at the auction that closes on Monday. Vanguard is showing the estimated yield for the 6-month at about 2.51%, while Prime MM SEC yield now is 2.25%. Side point. What is your reasoning for holding large amounts of "cash" i...
by Doc
Sat Nov 17, 2018 1:26 pm
Forum: Investing - Theory, News & General
Topic: What is your overall portfolio weighted expense ratio
Replies: 259
Views: 25938

Re: What is your overall portfolio weighted expense ratio

My overall e/r weighted average is 0.24% . :( You all say? I have a considerable position in a fund with an e/r of 1.19% Oh my, should I sell it? But it has overperformed the category average over the last 15 years by 4.07% and the appropriate index by 3.43%. Alas it's closed to new investors. I won...
by Doc
Fri Nov 16, 2018 4:56 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 187
Views: 25737

Re: Vanguard - You'll need to sign up for security codes soon

@BoxofUpticks

There are 10 kinds of people in the world: those that understand binary, and those that don't. :D
by Doc
Wed Nov 14, 2018 10:15 am
Forum: Investing - Theory, News & General
Topic: Morningstar downgrades several Vanguard funds
Replies: 14
Views: 3240

Re: Morningstar downgrades several Vanguard funds

Morningstar's main overall metric is risk adjusted returns. That's what their star ratings are based on. I don't use star ratings to choose funds but I will reject those less than three. But that is not the basis for the gold, silver, bronze ratings. Those are more related to the, somewhat subjecti...
by Doc
Wed Nov 14, 2018 8:26 am
Forum: Investing - Theory, News & General
Topic: Morningstar downgrades several Vanguard funds
Replies: 14
Views: 3240

Re: Morningstar downgrades several Vanguard funds

And there is a real reason this fund should be more volatile than most of its peers, which M* missed. All of the other international small-cap index funds hold only developed markets (or only emerging, but emerging-only funds are in a different category). If you add emerging markets to your portfol...
by Doc
Tue Nov 13, 2018 8:01 pm
Forum: Investing - Theory, News & General
Topic: Morningstar downgrades several Vanguard funds
Replies: 14
Views: 3240

Re: Morningstar downgrades several Vanguard funds

Low cost active management might be an asset magnet in the not too distant future. Yeh. I got "caught" when Gross left Pimco. Not because the "backup managers" took his place but because there was a very large outflow of money from the fund that made it almost impossible to handle efficiently. I di...
by Doc
Tue Nov 13, 2018 5:31 pm
Forum: Investing - Theory, News & General
Topic: Morningstar downgrades several Vanguard funds
Replies: 14
Views: 3240

Morningstar downgrades several Vanguard funds

"The 10 Biggest Funds to Get Downgrades in 2018" Vanguard Short-Term Investment-Grade (VFSTX) and Vanguard Intermediate-Term Investment-Grade (VFICX) Downgraded to Bronze from Silver Do Vanguard's bond managers matter? You bet. Low fees help, but management is still important. Greg Nassour was these...
by Doc
Tue Nov 13, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 Tax Time is upon us
Replies: 13
Views: 2590

2018 Tax Time is upon us

Downloaded TurboTax 2018 yesterday and started playing.

The POSTCARD looks like a reality.

All the stuff that used to go on form 1040 now goes on a 1040 worksheet and the key items on the worksheet go to line items on the POSTCARD. :twisted:
by Doc
Mon Nov 12, 2018 8:18 am
Forum: Investing - Theory, News & General
Topic: Take taxes into account when rebalancing?
Replies: 44
Views: 2346

Re: Take taxes into account when rebalancing?

So, like you, I don't bother to tax adjust. The numbers are too squishy. We're going to get our first snow covered roads in a few hours. I'm going to slow down when I drive despite the effect that the roads might just be a little squishy. :) Do the math based on your best estimates while adding som...
by Doc
Sun Nov 11, 2018 11:42 am
Forum: Investing - Theory, News & General
Topic: Take taxes into account when rebalancing?
Replies: 44
Views: 2346

Re: Take taxes into account when rebalancing?

Tax-adjusted asset allocation If you have accounts with different tax treatment (taxable, traditional IRA or 401(k), Roth IRA or 401(k)), equal dollar amounts in those accounts have different after-tax values. Therefore, if you want to optimize the after-tax value of your portfolio, you should base...
by Doc
Sat Nov 10, 2018 7:48 pm
Forum: Investing - Theory, News & General
Topic: Take taxes into account when rebalancing?
Replies: 44
Views: 2346

Re: Take taxes into account when rebalancing?

Not going to review this whole thread. Just ask yourself if a $50k fixed income position in a tIRA plus a $50k equity position in ROTH has the same risk as the reverse. The answer is obviously no. David Grabiner has discussed this aspect at length years ago. There is a WIKI article addressing the id...
by Doc
Wed Nov 07, 2018 10:25 am
Forum: Investing - Theory, News & General
Topic: Actively Managed Bond Funds
Replies: 24
Views: 1702

Re: Actively Managed Bond Funds

This earlier post should clarify it. Taylor wrote: In my opinion, ANY good quality safe investment (cash, CDs, Treasuries, short- or intermediate-term bond fund, is suitable for the fixed-income portion of a portfolio. I chose Total Bond Market for The Three-Fund Portfolio primarily for its broad d...
by Doc
Tue Nov 06, 2018 5:13 pm
Forum: Investing - Theory, News & General
Topic: Actively Managed Bond Funds
Replies: 24
Views: 1702

Re: Actively Managed Bond Funds

I think you're missing Taylor's point. If you want to chase returns by taking on more risk, the place to do so is equities, not bonds. Nobody buys bonds with the intent of losing money. The issue is at what risk (and added cost) higher return? If the intent is to never, ever lose money the fund of ...
by Doc
Tue Nov 06, 2018 2:47 pm
Forum: Investing - Theory, News & General
Topic: Actively Managed Bond Funds
Replies: 24
Views: 1702

Re: Actively Managed Bond Funds

There are some actively managed bond funds that have outperformed TBM over a long period of time in total returns. Some have decent ER too. An example: USAIX income fund (intermediate bonds) ER = 0.49 vs. VBMFX. https://www.portfoliovisualizer.com/backtest-portfolio#analysisResults Plug them into l...
by Doc
Tue Nov 06, 2018 2:11 pm
Forum: Investing - Theory, News & General
Topic: Actively Managed Bond Funds
Replies: 24
Views: 1702

Re: Actively Managed Bond Funds

There is modest evidence that a semi-active bond portfolios beat out passive indexing after fees by 10 to 30 bps. The trick is that bond indexes only cover about 10% of the actively traded market and ignores the 70% where trading is low to non-existential. A semi-active manager can replicate the fa...
by Doc
Mon Nov 05, 2018 5:54 pm
Forum: Investing - Theory, News & General
Topic: How many eggs in one basket?
Replies: 24
Views: 2826

Re: How many eggs in one basket?

If you have a dozen eggs put no more than six in one basket and don't use more than three baskets. Why worry. I will only worry when my portfolio at Vanguard gets to $100 million. Oops. See, I won't have to worry. If my portfolio was at $100 million I would have stopped worrying a long time ago. :s...
by Doc
Mon Nov 05, 2018 11:50 am
Forum: Investing - Theory, News & General
Topic: How many eggs in one basket?
Replies: 24
Views: 2826

Re: How many eggs in one basket?

If you have a dozen eggs put no more than six in one basket and don't use more than three baskets.

Why worry.
by Doc
Mon Nov 05, 2018 10:41 am
Forum: Investing - Theory, News & General
Topic: Vanguard website "unavailable during weekend of Nov 3"
Replies: 203
Views: 18627

Re: Vanguard website "unavailable during weekend of Nov 3"

I have the problem that my landline went down and ATT won't be out until later this week (about 5 days) -I always thought it would be more secure to get the code over the phone, but now if they call, they just get a busy signal.... I had a similar type situation with our bank. I was able to talk to...
by Doc
Sat Nov 03, 2018 3:13 pm
Forum: Investing - Theory, News & General
Topic: Vanguard website "unavailable during weekend of Nov 3"
Replies: 203
Views: 18627

Re: Vanguard website "unavailable during weekend of Nov 3"

I finally got to the screen that showed my our balance as of Value as of 11/02/2018, 4:00 pm, ET It was off by a absolutely unacceptable amount of $195.82. That's entirely unreasonable and I have no way of finding the error. :shock: OK there was a link. Value reflects the most recent share price ava...
by Doc
Sat Nov 03, 2018 3:06 pm
Forum: Investing - Theory, News & General
Topic: Vanguard website "unavailable during weekend of Nov 3"
Replies: 203
Views: 18627

Re: Vanguard website "unavailable during weekend of Nov 3"

latebloomer2 wrote:
Sat Nov 03, 2018 3:01 pm
they gave us plenty of notice so I just printed out my holdings late Friday night
Latebloomer, some of us old fogies couldn't stay awake that long.
by Doc
Sat Nov 03, 2018 2:25 pm
Forum: Investing - Theory, News & General
Topic: Vanguard website "unavailable during weekend of Nov 3"
Replies: 203
Views: 18627

Re: Vanguard website "unavailable during weekend of Nov 3"

And if you placed a buy for $1000 for the VFIDX fund during business hours on Friday just how many shares do you own today? :P You're right, but having notice that the website would be down over the weekend I would not have done that. Easy to do the math to figure out how many shares you would have...
by Doc
Sat Nov 03, 2018 1:27 pm
Forum: Investing - Theory, News & General
Topic: Vanguard website "unavailable during weekend of Nov 3"
Replies: 203
Views: 18627

Re: Vanguard website "unavailable during weekend of Nov 3"

Obviously, not all of us knew our exact balances before the website went down. What happens if this "update" results in messed up balances? I don't care about my exact balances before the website went down, the only thing I care about is the number of shares that I own in each fund, and I do have t...
by Doc
Sat Nov 03, 2018 12:15 pm
Forum: Investing - Theory, News & General
Topic: Bonds vs CDs
Replies: 39
Views: 4522

Re: Bonds vs CDs

For a direct CD, I guess you could call the value less the EWD penalty "cash"? I would not consider a brokered CD to be cash, as I would not consider them to be "highly liquid", even if <3 mo. If I can spend it at the grocery store during bank business hours I would consider it as a "cash equivalen...
by Doc
Sat Nov 03, 2018 11:55 am
Forum: Investing - Theory, News & General
Topic: Bonds vs CDs
Replies: 39
Views: 4522

Re: Bonds vs CDs

vineviz wrote:
Sat Nov 03, 2018 9:34 am
That said, FASB rules around investment maturity are themselves somewhat arcane and problematic.
:D
by Doc
Sat Nov 03, 2018 9:26 am
Forum: Investing - Theory, News & General
Topic: Bonds vs CDs
Replies: 39
Views: 4522

Re: Bonds vs CDs

What is included in cash and cash equivalents? The term cash and cash equivalents includes: currency, coins, checks received but not yet deposited, checking accounts, petty cash, savings accounts, money market accounts, and short-term, highly liquid investments with a maturity of three months or le...
by Doc
Wed Oct 31, 2018 10:56 am
Forum: Investing - Theory, News & General
Topic: Initial SEC yield and subsequent 5yr and 10yr returns
Replies: 204
Views: 19049

Re: Initial SEC yield and subsequent 5yr and 10yr returns

It has been known for a long time that the current yield is the best predictor of future bond returns. There's a reason mutual fund prospectuses have to say "past returns don't predict future performance bla bla bla", because it's true, despite what a lot of newbie investors think. That hits my ori...