Jack Bogle on CNBC

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minesweep
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Jack Bogle on CNBC

Post by minesweep » Tue Aug 20, 2013 7:11 am

Mr. Bogle is scheduled to be a guest on CNBC's noontime segment today.

Mike

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Re: Jack Bogle on CNBC

Post by Call_Me_Op » Tue Aug 20, 2013 7:14 am

They must do this as a concession. After all, CNBC relies on most people not listening to Jack.
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Re: Jack Bogle on CNBC

Post by RNJ » Tue Aug 20, 2013 7:26 am

As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.

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Re: Jack Bogle on CNBC

Post by ofcmetz » Tue Aug 20, 2013 7:31 am

RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
I find CNBC to be very entertaining for some reason. Maybe its all the scrolling numbers and Christmas colors. I could never imagine trading individual stocks based on what I watched on TV though.

OP, Jack usually has good segments on CNBC and he is so completely opposite to everything else on the channel that it amazes me they let him on.
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Re: Jack Bogle on CNBC

Post by Grt2bOutdoors » Tue Aug 20, 2013 7:34 am

A stock picker's market they say? Well, since I already own the entire market - that is just fine with me, I will share in what ever comes my way, including taking the stock picker's money as they bid up the shares I already own. :greedy
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Re: Jack Bogle on CNBC

Post by lwfitzge » Tue Aug 20, 2013 7:36 am

ofcmetz wrote:
RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
I find CNBC to be very entertaining for some reason. Maybe its all the scrolling numbers and Christmas colors. I could never imagine trading individual stocks based on what I watched on TV though.

OP, Jack usually has good segments on CNBC and he is so completely opposite to everything else on the channel that it amazes me they let him on.
That's why it's called financial porn. :D

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Re: Jack Bogle on CNBC

Post by minesweep » Tue Aug 20, 2013 8:17 am

ofcmetz wrote:
RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
OP, Jack usually has good segments on CNBC and he is so completely opposite to everything else on the channel that it amazes me they let him on.
That’s especially true given that Mr. Bogle is appearing on a “Fast Money” segment. “Fast Money” is a stock trading talk show.

Mike

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Re: Jack Bogle on CNBC

Post by Howard Donnelly » Tue Aug 20, 2013 8:21 am

Thanks for the "heads up."

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Re: Jack Bogle on CNBC

Post by nisiprius » Tue Aug 20, 2013 8:55 am

I love listening to Jack saying "invest for the long term" and "stay the course" and "time is your friend, impulse is your enemy" while CNBC shows him next to an animated chart flashing the value of the NASDAQ index second by second...
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Re: Jack Bogle on CNBC

Post by Kevin21 » Tue Aug 20, 2013 9:42 am

I can only hope that Jack's appearances strike a chord with some viewers, and really changes behavior.

If not, at least I am entertained!

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Re: Jack Bogle on CNBC

Post by Ged » Tue Aug 20, 2013 10:12 am

CNBC must recognize that Vanguard has a significant following just based on $2T AUM. Mr. Bogle is also recognized as a pioneer in the field. So he gets invited.

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Re: Jack Bogle on CNBC

Post by Phineas J. Whoopee » Tue Aug 20, 2013 10:22 am

RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
Now you mention it, I don't believe I've ever heard a stock picker say the market was anything other than a stock-picker's one.
PJW

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Taylor Larimore
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Re: Jack Bogle on CNBC

Post by Taylor Larimore » Tue Aug 20, 2013 11:15 am

Bump:

Mr. Bogle is on CNBC almost immediately.

Best wishes.
Taylor
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Re: Jack Bogle on CNBC

Post by Taylor Larimore » Tue Aug 20, 2013 12:03 pm

Bogleheads:

I seldom look at CNBC. The shouting, arguing, subtle marketing, and bad advice is more than I can stand. However, thanks to Mike, I was pleased to see our mentor correctly described as a "Legendary Investor" by the CNBC moderator.

Mr. Bogle made several statements that Bogleheads understand:

"Bonds are a better value than they were."

"A 60% stock/40% bond allocation holds pretty well."

"Stay the course."

The voice of reason in a media circus. . .

Thank you, Jack.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

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Re: Jack Bogle on CNBC

Post by dewey » Tue Aug 20, 2013 12:58 pm

Phineas J. Whoopee wrote:
RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
Now you mention it, I don't believe I've ever heard a stock picker say the market was anything other than a stock-picker's one.
PJW
+1
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Re: Jack Bogle on CNBC

Post by Ice-9 » Tue Aug 20, 2013 1:32 pm

Here's the video:
http://www.cnbc.com/id/100975618

I love the quote used in the headline!

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Re: Jack Bogle on CNBC

Post by LFKB » Tue Aug 20, 2013 1:42 pm

Ice-9 wrote:Here's the video:
http://www.cnbc.com/id/100975618

I love the quote used in the headline!
Thanks, pretty much all as expected. He seems to like Emerging Markets better than some other places you could put your money, although he didn't directly come out and say it.

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Re: Jack Bogle on CNBC

Post by Fallible » Tue Aug 20, 2013 1:59 pm

Taylor Larimore wrote:...

The voice of reason in a media circus. . .

Thank you, Jack.

Best wishes.
Taylor
Thank you, Taylor! :thumbsup
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Re: Jack Bogle on CNBC

Post by Fallible » Tue Aug 20, 2013 2:02 pm

Phineas J. Whoopee wrote:
RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
Now you mention it, I don't believe I've ever heard a stock picker say the market was anything other than a stock-picker's one.
PJW
I've heard them say it, but either way it's all the same: market timing.
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

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Re: Jack Bogle on CNBC

Post by Howard Donnelly » Tue Aug 20, 2013 2:57 pm

Taylor Larimore wrote:Bogleheads:

I seldom look at CNBC. The shouting, arguing, subtle marketing, and bad advice is more than I can stand. However, thanks to Mike, I was pleased to see our mentor correctly described as a "Legendary Investor" by the CNBC moderator.

Mr. Bogle made several statements that Bogleheads understand:

"Bonds are a better value than they were."

"A 60% stock/40% bond allocation holds pretty well."

"Stay the course."

The voice of reason in a media circus. . .

Thank you, Jack.

Best wishes.
Taylor
Taylor,

A question regarding Mr. Bogle's comment, "Bonds are a better value than they were."

50% of my bond allocation is in TBM. TBM is –3.53% YTD.
The other 50% of my bond allocation is in TIPS. TIPS is –9.10% YTD.

It doesn't seem to me that bonds are a better value than they were.

Can you help me understand?

Thank you,
Howard

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Phineas J. Whoopee
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Re: Jack Bogle on CNBC

Post by Phineas J. Whoopee » Tue Aug 20, 2013 3:59 pm

I'm not Taylor, but I'm going to guess the idea is that less expensive is a better buy than more expensive.
PJW

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Re: Jack Bogle on CNBC

Post by Howard Donnelly » Tue Aug 20, 2013 4:07 pm

Thank you, Phineas. :happy

It just bothers me because I'm losing money.

As I understand it, when you buy stocks, you're investing money; when you buy bonds, you're loaning money. I don't like to loan money and get a negative return.

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Re: Jack Bogle on CNBC

Post by Phineas J. Whoopee » Tue Aug 20, 2013 4:27 pm

Howard Donnelly wrote:Thank you, Phineas. :happy

It just bothers me because I'm losing money.

As I understand it, when you buy stocks, you're investing money; when you buy bonds, you're loaning money. I don't like to loan money and get a negative return.
Understood Howard, and your sentiment is frequently expressed here.

When you buy bonds you are giving up money, which you pay to somebody else, who becomes the legal owner of that money.

What you have afterward is either directly-held bonds, or shares in bond mutual funds. You own the same number of bonds, or of mutual fund shares, regardless of what happens to bond prices. Did people own fewer houses just because house prices declined? No.

Indeed, as bond interest goes up bond prices go down. There isn't any difference between those two ways of saying it. A decline in bond prices is simply another way of expressing a rise in yield. A decline in yield is simply another way of expressing an increase in prices.

Any bond fund will publish a statistic called an average duration. If your anticipated holding period is well over that number then a rise in yields, which is to say the exactly the same thing as a decline in prices, is good for you.

You may wish to explore the bonds section of the Bogleheads wiki.

PJW

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Bond tutorial

Post by Taylor Larimore » Tue Aug 20, 2013 4:39 pm

Howard:
It just bothers me because I'm losing money.
It shouldn't bother a long-term investor. It is natural for bonds to go up and down in value.

This is a 6-part tutorial about bonds:

Investing in Bonds

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

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Re: Jack Bogle on CNBC

Post by Howard Donnelly » Tue Aug 20, 2013 4:54 pm

Thank you, Taylor and Phineas. I'll do some reading.

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Re: Jack Bogle on CNBC

Post by Levett » Tue Aug 20, 2013 5:07 pm

"Bonds are a better value than they were."

Yes, because rates have risen considerably due to the magic word (drum roll please): taper. No, not tapir. ;-)

And yet one hears comments about "rates will rise," as if they haven't already risen rather dramatically--in some cases.

And then the mere mention of "Detroit" brings on a hissy fit in the muni market.

There's just no limit to the stupidity of Wall Street "professionals."

Lev

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Re: Jack Bogle on CNBC

Post by Calm Man » Tue Aug 20, 2013 5:55 pm

I must say that I have fully vetted the bond issue and continue to maintain my course. I also must say that it is sort of annoying, like a bunch of mosquitoes intermittently biting you, to see that the muni bond funds seem to decline about a penny to 3 pennies per share every day. But basically the decline in the last few months has wiped out about 2 years of muni interest and eventually it would be made back. It is probably better for the market to find it's lower level now and be done with it.

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Re: Jack Bogle on CNBC

Post by ofcmetz » Tue Aug 20, 2013 11:35 pm

Ice-9 wrote:Here's the video:
http://www.cnbc.com/id/100975618

I love the quote used in the headline!
Thanks for the link. Just watched the video and I really enjoyed his stay the course comments. Also, liked hearing him talk about how bonds are a much better deal today than they were even three months ago. I noticed he didn't even bother answering the question about what he thought inflation would do. :D
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Re: Jack Bogle on CNBC

Post by stemikger » Wed Aug 21, 2013 12:18 am

Taylor Larimore wrote:Bogleheads:

I seldom look at CNBC. The shouting, arguing, subtle marketing, and bad advice is more than I can stand. However, thanks to Mike, I was pleased to see our mentor correctly described as a "Legendary Investor" by the CNBC moderator.

Mr. Bogle made several statements that Bogleheads understand:

"Bonds are a better value than they were."

"A 60% stock/40% bond allocation holds pretty well."

"Stay the course."

The voice of reason in a media circus. . .

Thank you, Jack.

Best wishes.
Taylor
Thank you Taylor and Ice-9 for the Link.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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Re: Jack Bogle on CNBC

Post by Call_Me_Op » Wed Aug 21, 2013 5:34 am

Howard Donnelly wrote: A question regarding Mr. Bogle's comment, "Bonds are a better value than they were."

50% of my bond allocation is in TBM. TBM is –3.53% YTD.
The other 50% of my bond allocation is in TIPS. TIPS is –9.10% YTD.

It doesn't seem to me that bonds are a better value than they were.

Can you help me understand?
Yes, expected return is now higher.
Best regards, -Op | | "In the middle of difficulty lies opportunity." Einstein

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Re: Jack Bogle on CNBC

Post by Ice-9 » Wed Aug 21, 2013 5:42 am

Call_Me_Op wrote:
Howard Donnelly wrote: A question regarding Mr. Bogle's comment, "Bonds are a better value than they were."

50% of my bond allocation is in TBM. TBM is –3.53% YTD.
The other 50% of my bond allocation is in TIPS. TIPS is –9.10% YTD.

It doesn't seem to me that bonds are a better value than they were.

Can you help me understand?
Yes, expected return is now higher.
To add to this correct response, it would be no different if we were talking about stocks. If the S&P 500 were to drop 3.5% or 9% or what have you, then it is instantly a better value after the drop than it was before the drop. With bonds, since yield rises as prices drop, this also means the yield will be higher if you buy after the drop. He's not saying they're sure to go up from here, just that they're a better value now than they were earlier.

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Re: Jack Bogle on CNBC

Post by RNJ » Wed Aug 21, 2013 6:35 am

Ice-9 wrote:Here's the video:
http://www.cnbc.com/id/100975618

I love the quote used in the headline!

Knowing CNBC, I thought it would have read:

BOGLE SAYS: BUY EMERGING MARKETS!! BUY BONDS!!!

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Re: Jack Bogle on CNBC

Post by ofcmetz » Wed Aug 21, 2013 7:52 am

Call_Me_Op wrote:
Howard Donnelly wrote: A question regarding Mr. Bogle's comment, "Bonds are a better value than they were."

50% of my bond allocation is in TBM. TBM is –3.53% YTD.
The other 50% of my bond allocation is in TIPS. TIPS is –9.10% YTD.

It doesn't seem to me that bonds are a better value than they were.

Can you help me understand?
Yes, expected return is now higher.
If your favorite movie theater lowered its ticket price or if your favorite grocery store lowered its price of milk, or if your favorite steak restraurant lowered the price of the ribeye dinner or etc. You may say that they offered a better value. Its the same with stocks and bonds. Lower prices raise the expected returns and offer better values from the present going forward.
Never underestimate the power of the force of low cost index funds.

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Re: Jack Bogle on CNBC

Post by Bob.Beeman » Wed Aug 21, 2013 8:37 am

Say what you will about CNBC. They DO have Jack Bogle on occasionally.

Further, their series American Greed is a wonderful expose of swindles and scams. The network justifies its existence by just this program alone.

Episode after episode people who expect high returns coupled with low risk are given the shaft. Its enough to make one wonder how many "Hedge Funds" are actually Ponzi schemes.

Extremely educational.

- Bob Beeman.

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Re: Jack Bogle on CNBC

Post by YDNAL » Wed Aug 21, 2013 8:51 am

Delete - see below.
Last edited by YDNAL on Wed Aug 21, 2013 8:59 am, edited 2 times in total.
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Re: Jack Bogle on CNBC

Post by gvsucavie03 » Wed Aug 21, 2013 8:58 am

The stupid lady doing the interview cut him off as he was making a key point... ugh.

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Re: Jack Bogle on CNBC

Post by YDNAL » Wed Aug 21, 2013 9:00 am

Taylor Larimore wrote:Mr. Bogle made several statements that Bogleheads understand:

"Bonds are a better value than they were."

"A 60% stock/40% bond allocation holds pretty well."

"Stay the course."
Taylor, "value" is in the eye of the beholder. I have a serious problem loaning hard-earned money to earn 2.06% (Vanguard VBTLX), exposed to potential short-term price drop (avg. duration 5.4), while inflation is 1.96% in July 2013.
http://inflationdata.com/Inflation/Infl ... lation.asp

Yes, of course, when VBTLX was $11.22 (2012) and yield of 1.61%, inflation was 1.76% - one can say a "better value now." :)
Landy | Be yourself, everyone else is already taken -- Oscar Wilde

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Re: Jack Bogle on CNBC

Post by afan » Thu Aug 22, 2013 8:22 am

If the S&P 500 were to drop 3.5% or 9% or what have you, then it is instantly a better value after the drop than it was before the drop.
This is simply note true. What the price drop means is that the market has changed its consensus prediction of the future return on these assets. If the market is wrong, and future returns have not changed, then the investment is now a better value. The enormous number of studies constantly reviewed on this forum indicate that one cannot out perform the market by out guessing whether stocks are headed up or down. If it were true that a price drop= "the market is now a better value", then it would be trivial to beat the market by timing.

Timing does not work because price drop=better value is not true.

If only it were that simple...
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Re: Jack Bogle on CNBC

Post by Bradley » Thu Aug 22, 2013 9:00 am

afan wrote:
This is simply note true. What the price drop means is that the market has changed its consensus prediction of the future return on these assets.

Most experienced long term investors would love to add to there strategic allocations with a 9% discount. It would be considered, by many, to be a better value. Current market consensus is meaningless to the long term goals and the performance of an investors portfolio. An IPS which includes a low cost, globally diversified portfolio and the discipline to maintain the IPS through thick and thin (stay the course) is the foundation that Jack has always endorsed.
You can sum up any active fund manager’s presentation at an investor conference in one sentence: “We’re doing well, all things considered.”

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Re: Jack Bogle on CNBC

Post by stemikger » Thu Aug 22, 2013 9:11 am

Posted by Bradley
An IPS which includes a low cost, globally diversified portfolio and the discipline to maintain the IPS through thick and thin (stay the course) is the foundation that Jack has always endorsed.
Close enough, but while Jack is not exactly against international investing he prefers the pristine all U.S. Stock and Bond Portfolio. He personally does not own international in his own investments. He also has said numerous times, that if you must invest in international he suggests no more than 20%. His endorsement is just the U.S. markets. He does not feel international is necessary.

He actually prefers the old fashioned Vanguard Index Balanced Fund. That is where he invests money for his family (grandchildren).
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Re: Jack Bogle on CNBC

Post by Ice-9 » Thu Aug 22, 2013 9:23 am

afan wrote:
If the S&P 500 were to drop 3.5% or 9% or what have you, then it is instantly a better value after the drop than it was before the drop.
This is simply note true. What the price drop means is that the market has changed its consensus prediction of the future return on these assets. If the market is wrong, and future returns have not changed, then the investment is now a better value. The enormous number of studies constantly reviewed on this forum indicate that one cannot out perform the market by out guessing whether stocks are headed up or down. If it were true that a price drop= "the market is now a better value", then it would be trivial to beat the market by timing.

Timing does not work because price drop=better value is not true.

If only it were that simple...
Which of the two investors below gets the better value?

Investor 1: Buy at X price. Hold for however many years until such time that your asset allocation dictates you sell. Sell at Y price.

Investor 2: Buy at (X - 9%) price. Hold for however many years until such time that your asset allocation dictates you sell. Sell at Y price.

No timing involved, just if you liked it at X price, you shouldn't be discouraged from buying at X - 9%. Few things in life are certain, but you will certainly have a better return on that investment than the folks who earlier had bought at X. A better value.

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Re: Jack Bogle on CNBC

Post by neurosphere » Thu Aug 22, 2013 9:56 am

afan wrote:
If the S&P 500 were to drop 3.5% or 9% or what have you, then it is instantly a better value after the drop than it was before the drop.
This is simply note true. What the price drop means is that the market has changed its consensus prediction of the future return on these assets. If the market is wrong, and future returns have not changed, then the investment is now a better value. The enormous number of studies constantly reviewed on this forum indicate that one cannot out perform the market by out guessing whether stocks are headed up or down. If it were true that a price drop= "the market is now a better value", then it would be trivial to beat the market by timing.

Timing does not work because price drop=better value is not true.

If only it were that simple...
I'll echo what Ice-9 wrote above.

Suppose you knew in advance that at on the day you turn 75 you were going to sell ALL your stocks and purchase an annuity (or give to charity, or invest in bonds, etc).

The price of stocks at age 75 is unknown, but it is SOME NUMBER X. If I buy some stocks today at price Y, and tomorrow stocks plummet, and I buy some more shares at price Z, the "Z" shares were a better value than the Y shares. Because NO MATTER WHAT happens, or no matter the current situation, the Z shares will always turn out to have been a better value than the "Y" shares.

Thus, if one is restricted to the market universe of "stocks", lower price = better value, regardless of anything else. Once we are allowed to compare stocks to bonds, timber, REITS, CDs or cash, then "value" takes on a different meaning.
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Re: Jack Bogle on CNBC

Post by midareff » Thu Aug 22, 2013 11:18 am

RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
That's because the "stock pickers" are interested in picking your pockets to theirs. After all, they just want to make money and yours is as fair game as anyone's.

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Re: Jack Bogle on CNBC

Post by midareff » Thu Aug 22, 2013 11:27 am

YDNAL wrote:
Taylor Larimore wrote:Mr. Bogle made several statements that Bogleheads understand:

"Bonds are a better value than they were."

"A 60% stock/40% bond allocation holds pretty well."

"Stay the course."
Taylor, "value" is in the eye of the beholder. I have a serious problem loaning hard-earned money to earn 2.06% (Vanguard VBTLX), exposed to potential short-term price drop (avg. duration 5.4), while inflation is 1.96% in July 2013.
http://inflationdata.com/Inflation/Infl ... lation.asp

Yes, of course, when VBTLX was $11.22 (2012) and yield of 1.61%, inflation was 1.76% - one can say a "better value now." :)
That is exactly the problem. Zip REAL RETURN and you get the downside risk. If your in taxable the downside is just bigger after taxes. While you need some dry powder just how much of a portfolio can a retiree commit to downside risk with no return? :confused

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abuss368
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Re: Jack Bogle on CNBC

Post by abuss368 » Thu Aug 22, 2013 12:54 pm

Thanks!
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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nedsaid
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Re: Jack Bogle on CNBC

Post by nedsaid » Thu Aug 22, 2013 9:35 pm

Bonds are cheaper than they were. Yep. I am buying.

Emerging Markets are cheaper than they were. Yep. Buying as part of a regular program in my workplace savings plan. Have not rebalanced into them. But they are looking more interesting.

Good to see that Mr. Bogle doesn't change his advice much. Also glad to see that he still likes a good old-fashioned 60/40 stock to bond porfolio. Stick with the tried and true.

Thanks Mr. Bogle for being a voice of calm among the screaming maniacs at CNBC.
A fool and his money are good for business.

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scubadiver
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Re: Jack Bogle on CNBC

Post by scubadiver » Mon Sep 02, 2013 8:46 pm

minesweep wrote:
ofcmetz wrote:
RNJ wrote:As I was being force-fed CNBC in my dentist's waiting room, I heard three guests agree, in very serious tones (and with straight faces), that we are now in a "stock-picker's market."

Poor Mr. Bogle.
OP, Jack usually has good segments on CNBC and he is so completely opposite to everything else on the channel that it amazes me they let him on.
That’s especially true given that Mr. Bogle is appearing on a “Fast Money” segment. “Fast Money” is a stock trading talk show.

Mike
What I would give to hear Mr. Bogle come on that segment and talk about the recent spike (decline) in commodity X, how that relates to the political stability (instability) in country Y and then state that based upon these factors and lingering concerns about the August jobs report he is recommending to clients a buy-and-hold strategy where they invest in a broadly diversified portfolio of low cost stock / bond index funds with a bonding weighting equal to 100 - their age.

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pondering
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Re: Jack Bogle on CNBC

Post by pondering » Tue Apr 26, 2016 8:20 pm

Today he was quoted on CNBC.com ( http://www.cnbc.com/2016/04/26/jack-bog ... arket.html ):

""If you're in the market for the long-term, you have to accept the market's return whatever it may be and so, I look for a decade of returns that are not going to be quite as good or nearly as good as that 12 percent we've earned every year in the last 70 years," he added."

Almost Dave Ramseyish
--Robert Sterbal | 412-977-3526 call/text

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abuss368
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Re: Jack Bogle on CNBC

Post by abuss368 » Tue Apr 26, 2016 8:27 pm

Good article. The last sentence in the article is so true!
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

itstoomuch
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Re: Jack Bogle on CNBC

Post by itstoomuch » Tue Apr 26, 2016 8:35 pm

Saw him. about a 60 sec spot.
:greedy
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