Who do you guys discuss investment strategies with?

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
techcrium
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Who do you guys discuss investment strategies with?

Post by techcrium » Fri Sep 20, 2013 12:46 am

Who do you discuss investment strategies with instead of random people on the internet?

I find that I basically talk to my dad or brother mainly. I would like to find some more people to discuss investment strategies with though. None of my friends invest so I don't bother bringing that topic up ever.

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Sheepdog
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Re: Who do you guys discuss investment strategies with?

Post by Sheepdog » Fri Sep 20, 2013 1:18 am

My spouse only.
It's not what you gather, but what you scatter which tells what kind of life you have lived---Helen Walton

Bob's not my name
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Re: Who do you guys discuss investment strategies with?

Post by Bob's not my name » Fri Sep 20, 2013 3:55 am

techcrium wrote:random
You should look that word up. :D The great thing about the internet is that randomness is avoided.

The Wizard
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Re: Who do you guys discuss investment strategies with?

Post by The Wizard » Fri Sep 20, 2013 4:26 am

I discuss stuff either on this forum or the M* TIAA-CREF forum.
Practically none of my real-life contacts have much of a clue about investment details.
A few of my former co-workers may have been exceptions, but it wasn't appropriate to get into much detail with them...
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livesoft
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Re: Who do you guys discuss investment strategies with?

Post by livesoft » Fri Sep 20, 2013 6:11 am

I have "talked" with a few colleagues, a few retired neigbhors, a few family members, and a few friends. The discussions go something like this:

"What do you do livesoft?" or "What do you think about the Fiscal Cliff that is coming up? Are you doing anything about it?"
"I just buy, hold and rebalance index funds. And I don't mean just the S&P500 index fund. I own large cap and small cap, domestic and foreign. I have an asset allocation plan with a ratio of equities to fixed income that I like and I stick to it. If stocks drop, I follow my plan and buy more index funds. I tax-loss harvest, too. I would never pay for financial advice."

And I follow that with a polite, "What do you do?" In no cases did anyone say, "Oh, that's what we do, too."

There have been at least three instances where folks wanted to know more than that, so I basically gave book reports on some of the recommended reading around here.
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SteveB3005
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Re: Who do you guys discuss investment strategies with?

Post by SteveB3005 » Fri Sep 20, 2013 6:42 am

I tend to lose them right around uncompensated risk, I'm down to you guys and the dog for discussion purposes.

Bracket
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Re: Who do you guys discuss investment strategies with?

Post by Bracket » Fri Sep 20, 2013 6:48 am

This is funny because I work with smart medical professionals many of whom pay advisors and choose funds in our 401k based solely on whether or not they have done well in the past and a few of them trade individual stocks. They know I have some sort of plan but actually the other day one of them referred to my buy, hold, and rebalance index fund strategy as a "scheme". And of course when I ask them what their advisor said, like "hey did your advisor tell you you should do a backdoor Roth?" the answer is usually no or I don't know. My family members are equally uninterested in investing despite my efforts so basically my answer to this question is no one. Except of course all the great people on this forum from whom I've learned nearly everything I know.

RNJ
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Re: Who do you guys discuss investment strategies with?

Post by RNJ » Fri Sep 20, 2013 7:04 am

The only people I have any helpful discussions with are on this forum (not at all random, btw - anonymous, but not random).

Conversations about investments I've had recently - with otherwise bright, sober, and very successful people - included comments like this: "Apple looks cheap now" and "I go all in. If I believe in the company and know its mispriced its a no-brainer, and I throw everything at it."

EDIT: And my wife, of course.
Last edited by RNJ on Fri Sep 20, 2013 8:19 am, edited 1 time in total.

fcox85
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Re: Who do you guys discuss investment strategies with?

Post by fcox85 » Fri Sep 20, 2013 7:17 am

I'm a younger guy (28), and I personally find that my friends/peers are either 1) pretty clueless; or 2) not interested. As a result, I mainly talk to my wife, whose perspective is largely colored by what I've read and shared with her from this site and the boglehead philosophy. Luckily, she thinks it makes perfect sense.

When it comes to my friends, I try to discuss investing with them, but I've had my peers and even people 10-12 years older than me say things like: "You're young, why are you saving now. You've got plenty of time." Also, I had a conversation with a friend of mine the other night regarding 401(k)'s, and he seemed convinced that all programs were scams due to high fees. While it is true that a lot of the funds and administrative fees can be high in some plans, I had a really hard time explaining to him and his wife that there is probably at least one or two funds in every plan that is a low-cost index fund, and you have to go with that. He still seemed pretty convinced that you can't win in a 401(k) because the fees eat up your returns, and seemed skeptical that I had funds with ER's as low as .05% in my plan.

Sometimes it is surprising the sheer amount of misinformation regarding investing, or the lack of education on retirement savings across all generations. Then again, I got lucky and invested in Vanguard TR funds by default in my 401(k) plan. If I hadn't stumbled upon this website about 2 years ago, I probably still wouldn't understand the significance of that, so I guess it's really not that surprising.
Last edited by fcox85 on Fri Sep 20, 2013 7:18 am, edited 1 time in total.

minesweep
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Re: Who do you guys discuss investment strategies with?

Post by minesweep » Fri Sep 20, 2013 7:17 am

My brother, and to a lesser degree a former co-worker (both of them have Vanguard accounts).

Mike

B. Wellington
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Re: Who do you guys discuss investment strategies with?

Post by B. Wellington » Fri Sep 20, 2013 7:23 am

This forum and my wife. I have tried to avoid any investment topics at work over the years, it has become pointless.

(Most live for the moment, day to day, and paycheck to paycheck.)

Bob's not my name
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Re: Who do you guys discuss investment strategies with?

Post by Bob's not my name » Fri Sep 20, 2013 7:26 am

SteveB3005 wrote:I'm down to you guys and the dog for discussion purposes.
So, Fido, my old nemesis! We meet again.

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NightOwl
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Re: Who do you guys discuss investment strategies with?

Post by NightOwl » Fri Sep 20, 2013 7:26 am

I discussed investment strategies with the good people here in 2009. At that point I decided on my investment strategy, and now I have no need to discuss such strategies anymore. I read this forum regularly to make sure that I am on the right track, but I'm good at blocking out noise, even noise that pops up around here from time to time.

When my friends discuss their single-stock portfolios around me, they exempt me from the conversation because they know that I am an indexer. They tell me that that means I know nothing about stocks, and I cheerfully agree. (Sort of).

NightOwl
"Volatility provokes the constant dread that some investors know more than we do, making us fearful of ignoring such powerful price movements." | Peter Bernstein, "The 60/40 Solution."

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Bustoff
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Re: Who do you guys discuss investment strategies with?

Post by Bustoff » Fri Sep 20, 2013 7:38 am

My experience is that a lot of people don't like discussing their personal finances when the subject is raised. Also, I've never run into anyone who is familiar with the Bogleheads website or any of the books/authors on our list.
Just the other day in a conversation with a neighbor who fancies himself a very knowledgeable investor, I mentioned William Bernstein and Wade Pfau. The response I got was the same as the scene in the movie Jaws when the locals caught a shark and Richard Dreyfus stated it was a Tiger shark and the local yocal responds, "a what?"

Bob's not my name
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Re: Who do you guys discuss investment strategies with?

Post by Bob's not my name » Fri Sep 20, 2013 7:43 am

Bustoff wrote:local yocal
This may be funnier than you think :D

ML 59
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Re: Who do you guys discuss investment strategies with?

Post by ML 59 » Fri Sep 20, 2013 7:59 am

One of my co-workers and I discuss investing in very general terms.

I've gently urged our HR people to look closer at 401k options relative to cost but the defense of "higher costs are justified by the higher returns" argument is difficult to unsettle. At that point they pick the one or two funds out of many that support their argument while ignoring the remaining high cost mediocre options. Fortunately we have a window that allows self direction, thus Signal Class Vanguard funds.

Wagnerjb
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Re: Who do you guys discuss investment strategies with?

Post by Wagnerjb » Fri Sep 20, 2013 8:02 am

I have found three or four people with whom I occasionally have in-depth financial discussions with. They are people who a) are similar age and economic demographic, b) work for a large company like I do and c) have an interest in personal finance.

Our talks are not in-depth about financial theory, but more about practical implications for applying them to daily life. Most of them are index-fund types already. But we may talk about tax strategies for upcoming tax law changes, whether to use a Roth or regular IRA, whether to keep life insurance as you get close to retirement, how to save and pay for college costs, how to deal with aging parents, their trusts, their advisors, how much are you spending on your retirement home, etc.

I have a few other close friends with whom I occasionally have more superficial financial conversations, and I find these helpful because we might share the level of our assets with each other. It sure helps to guage your progress when you talk to others in your economic status (same age, same level at work) and see how much they have saved.

Best wishes.
Andy

staythecourse
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Re: Who do you guys discuss investment strategies with?

Post by staythecourse » Fri Sep 20, 2013 8:20 am

Bracket wrote:This is funny because I work with smart medical professionals many of whom pay advisors and choose funds in our 401k based solely on whether or not they have done well in the past and a few of them trade individual stocks.
I'm a physician and would echo your sentiments.

When I made partner I started talking to the senior partners about chaning our JH 401k to a low cost well diversified plan. I sent them emails describing what the difference was in final net worth after 40 yrs. The data went right over their head. I quickly realized doctors are not the brightest about finance or business!!

I just kept my mouth closed and will just continue to make money with a sound plan while they still flounder.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

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Garco
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Re: Who do you guys discuss investment strategies with?

Post by Garco » Fri Sep 20, 2013 8:38 am

I discuss broad strategy with my wife. She, however, has little tolerance for detail but is mostly concerned about safety and backup over the longer run: should we annuitize, who will manage our investments when I croak. Partly with the last concern in mind we have with with a certified financial planner, and are preparing to have him be the backup if we become incapacitated. Beyond that I have one colleague at work with whom I meet periodically to talk about investments and our kids. He is much more aggressive than I am, but he's got more money to put into the fire.

IlliniDave
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Re: Who do you guys discuss investment strategies with?

Post by IlliniDave » Fri Sep 20, 2013 8:46 am

Nobody, really. I have a couple of friends with whom there are occasional discussions about investing as in the sense saving/investing is a good thing and very superficial discussions about, say, the stock market. One of them is a Boglehead in all respects except participating here, and so we occasionally congratulate ourselves on being life-long mainly buy-and-hold low-cost investors. His influence was part of the changeover in my thought process that led me here.

I've found people get very touchy about the specifics, and too often find it hard to deal with other people having strategies different from their own. So in-person, even when people ask my thoughts on more specific investment topics, I leave it at a very general level: a mix of stocks and bonds that I buy and hold over time. I'm also sensitive about the likelihood that I have substantially more in invested assets than most of the people I interact with on a daily basis (although I'm on the low side of the continuum here, I'm still well ahead of national medians and averages). Giving the appearance that you have some real wealth (beyond status symbol items like expensive clothes and vehicles) unfortunately can change people's attitudes towards you. So I just don't do it.

There are a number of people that I talk about general personal finances with. Dave Ramsey has a big following among my coworkers, so it's fun to watch each other, and cheer each other on, getting "typical" debt wallowing cleared up, houses paid off, and folks moving in a positive direction after sometimes decades of treading water. But investment specifics are left out.

My primary financial confidante is one of my aunts. We're currently executor's of each others' estates. So she knows everything I have and where it's all at, and vice-versa, but again, investment strategy doesn't come in to it. We're nearly opposites on the aggressive/conservative scale.

I keep all the nitty-gritty here. So you guys are the only ones unfortunate enough to hear my drivel at this time :)
Don't do something. Just stand there!

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mhc
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Re: Who do you guys discuss investment strategies with?

Post by mhc » Fri Sep 20, 2013 8:50 am

I work in an office with about 30 people. Two of them were close to being bogleheads already. I told them about this site, and the three of us are pretty much in agreement. We talk occasionally. I have tried helping others, but they really don't have much interest. I think they want the results without the effort to learn.

I gave my DW one of Mike Piper's books. She read it, but she was not interested in discussing it.

That leaves me with pretty much this forum, which is okay with me.

Grt2bOutdoors
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Re: Who do you guys discuss investment strategies with?

Post by Grt2bOutdoors » Fri Sep 20, 2013 8:53 am

Sheepdog wrote:My spouse only.
You're lucky if your wife listens to you. :D My wife "listens" but is only interested in one thing, "don't lose money". Not so interested in the mechanics of portfolio.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

Grt2bOutdoors
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Re: Who do you guys discuss investment strategies with?

Post by Grt2bOutdoors » Fri Sep 20, 2013 9:07 am

A relative, a co-worker, a good friend of mine and a large Bogleheads anynomous forum.
My relative talks value strategies, but only using individual equities. The co-worker is largely a Boglehead using a value indexing and individual dividend paying equity strategy. I talked the good friend into an indexing strategy about 20 years ago for his retirement portfolio, he's done really well with it, but I will lose him if I start talking about standard deviations, small value, price/book. He also uses a dividend paying equity strategy. The forum! :D - the only place I can really let loose and help folks. I've done some personal finance teaching to young kids - most get it, some continue to think either the stock market is rigged, or buying a car is a good investment.

I don't try talking investments with relatives or other friends, because as others have stated, personal finances is a taboo subject. It's like prying.
The other thing is over a conversation, it usually goes like this: the bank is paying 0.02% on my savings account, so I talked to the bank advisor who got me into an annuity where I can get my money out after 7 years :shock: or, I needed some yield, so I bought some A.T.&T., or my advisor manages my money - he put me into a high yield fund, it's making 7%. There is never any discussion around a cohesive strategy that will get them from point A to point B. It's more like jumping around with no rhyme or reason, no exit plan.
Last edited by Grt2bOutdoors on Fri Sep 20, 2013 9:21 am, edited 1 time in total.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

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HomerJ
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Re: Who do you guys discuss investment strategies with?

Post by HomerJ » Fri Sep 20, 2013 9:18 am

Just the people here on this board.

stan1
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Re: Who do you guys discuss investment strategies with?

Post by stan1 » Fri Sep 20, 2013 9:24 am

Investment strategies are right up there with religion and politics as topics that are generally not appropriate for polite conversation. Some of my friends know my opinions and I know theirs, but we don't proselytize each other. The most interesting conversations are when one of us changes our views based on thought and reflection, and then shares the reasons why.

jdb
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Re: Who do you guys discuss investment strategies with?

Post by jdb » Fri Sep 20, 2013 9:36 am

Interesting discussion. This goes beyond personal investments. I have picked up much of my most valuable investment info from this site over past 7 years and reading books and articles recommended on this site together with many years of reading financial press and my own financial missteps when tried to speculate in individual stocks and market time in younger days, and of course use this info for my own portfolio. But am also trustee of several pension funds at company with over $100 million in assets. Other four trustees very smart and competent but not investors and they each use professional advisors for their personal investments. So of course ended up with two professional advisors, among nation's largest and most prestigious, with over 40 funds etc. with quarterly changes. At end of 5 years it is clear that if we had just put investments into Vanguard low cost index funds in 60-40 split would have probably ended up at same place with lot less fees. Have succeeded in getting 401(k) with number of low cost index funds. But ongoing process, speaking with other trustees about buy and hold low cost index funds as opposed to using expensive professional advisors which recommend quarterly changes in portfolios is not easy.

Bill Bernstein
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Re: Who do you guys discuss investment strategies with?

Post by Bill Bernstein » Fri Sep 20, 2013 9:39 am

I used to feel bad that almost none of my friends and acquaintances ever asked me about finance until I heard Charley Ellis say that his friends and acquaintences didn't either.

The difference between religion/politics and finance is that the latter is a much more uncomfortable subject for most people, since they're in denial about it.

Bill

Levett
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Re: Who do you guys discuss investment strategies with?

Post by Levett » Fri Sep 20, 2013 9:45 am

Finance was a constant source of conversation both at work and in social gatherings (coffee, lunches, dinner parties). Perhaps this occurred because it was a university community.

The same conversations continue in retirement. Some people use advisors. Some don't. Some trade for their accounts. Some don't. Some diversify. Some don't.

But none are broke--that's for sure! 8-)

Lev

Grt2bOutdoors
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Re: Who do you guys discuss investment strategies with?

Post by Grt2bOutdoors » Fri Sep 20, 2013 9:56 am

jdb wrote:Interesting discussion. This goes beyond personal investments. I have picked up much of my most valuable investment info from this site over past 7 years and reading books and articles recommended on this site together with many years of reading financial press and my own financial missteps when tried to speculate in individual stocks and market time in younger days, and of course use this info for my own portfolio. But am also trustee of several pension funds at company with over $100 million in assets. Other four trustees very smart and competent but not investors and they each use professional advisors for their personal investments. So of course ended up with two professional advisors, among nation's largest and most prestigious, with over 40 funds etc. with quarterly changes. At end of 5 years it is clear that if we had just put investments into Vanguard low cost index funds in 60-40 split would have probably ended up at same place with lot less fees. Have succeeded in getting 401(k) with number of low cost index funds. But ongoing process, speaking with other trustees about buy and hold low cost index funds as opposed to using expensive professional advisors which recommend quarterly changes in portfolios is not easy.
The largest pensions out there largely index with some active management in specific areas such as private equity, land investments, timber, hedge funds. There was a listing of the top performing public pensions in the September 16th Pensions and Investments magazine for the year ending June 30, 2013 - the top peforming funds were overweigh domestic equities, with the highest return by the Oklahoma Teachers pension fund returning 17.4% (benchmark return was 14.4%) - they instituted a 6.3% weighing to MLP's in February 2011, that category returned 39.7% last year.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

manwithnoname
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Re: Who do you guys discuss investment strategies with?

Post by manwithnoname » Fri Sep 20, 2013 9:57 am

I discuss investments with anyone who has the analytical skills and can discuss investment matters in a coherent manner including my financial advisors, tax advisor and reliable sources on the internet. My analysis includes tax efficient investing, estate planning and wealth management. I always research any ideas to confirm the tax consequences.

staythecourse
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Re: Who do you guys discuss investment strategies with?

Post by staythecourse » Fri Sep 20, 2013 10:01 am

Grt2bOutdoors wrote:You're lucky if your wife listens to you. My wife "listens" but is only interested in one thing, "don't lose money". Not so interested in the mechanics of portfolio.
I agree. The only thing my wife cares about MPT, risk adjusted returns, sortino ratios, etc... is there better be money in the account when she needs it now an in the future. :D

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

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Ice-9
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Re: Who do you guys discuss investment strategies with?

Post by Ice-9 » Fri Sep 20, 2013 10:15 am

As others have said of their situations, most of my friends have no interest in investing.

Ironically, the friend I went to for advice many years ago who introduced me to the concept of indexing actually prefers T Rowe Price active funds. A comment he made a couple of years ago sums up his thoughts on my adopted investment philosophy: "Why are you still using Vanguard index funds. I mean, it's not too bad, but I want to have somebody picking out the good companies. At least with the S&P 500 somebody picks who's in and who's out, but I wouldn't touch some of those other indexes you invest in."

About a year ago, my future brother-in-law brought up investing and got me kind of psyched for future conversations when he said he's "an index fund kind of guy." Unfortunately, that's just what his core retirement portfolio from years past is in, and I've found he is moving away from that due to some desire to "not have big brother know where all the money is." So he buys a lot of precious metals and (I am not making this up) collector comic books.

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HomerJ
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Re: Who do you guys discuss investment strategies with?

Post by HomerJ » Fri Sep 20, 2013 10:21 am

Grt2bOutdoors wrote:
Sheepdog wrote:My spouse only.
You're lucky if your wife listens to you. :D My wife "listens" but is only interested in one thing, "don't lose money". Not so interested in the mechanics of portfolio.
Heh, that's my wife too... :)

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Re: Who do you guys discuss investment strategies with?

Post by BlueEars » Fri Sep 20, 2013 10:30 am

Most people's investment ideas seem pretty dumb. Mine probably seem even dumber to others. So I try to keep my mouth shut on this but it's not easy. :wink:

It's much more fun to talk about what will happen in the future or what someone said in the press. In other words, keep the discussion vague and somewhat mysteriously exciting.
Last edited by BlueEars on Fri Sep 20, 2013 10:33 am, edited 1 time in total.

tphp99
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Re: Who do you guys discuss investment strategies with?

Post by tphp99 » Fri Sep 20, 2013 10:31 am

livesoft wrote:I have "talked" with a few colleagues, a few retired neigbhors, a few family members, and a few friends. The discussions go something like this:

"What do you do livesoft?" or "What do you think about the Fiscal Cliff that is coming up? Are you doing anything about it?"
"I just buy, hold and rebalance index funds. And I don't mean just the S&P500 index fund. I own large cap and small cap, domestic and foreign. I have an asset allocation plan with a ratio of equities to fixed income that I like and I stick to it. If stocks drop, I follow my plan and buy more index funds. I tax-loss harvest, too. I would never pay for financial advice."

And I follow that with a polite, "What do you do?" In no cases did anyone say, "Oh, that's what we do, too."

There have been at least three instances where folks wanted to know more than that, so I basically gave book reports on some of the recommended reading around here.
I tend to do the opposite, I politely listen to their strategies on hot stocks and mutual funds, 100% gold or cash or real estate or annuties ect. When it's my turn, I'll "admit" that I've always been unlucky with investments and have resorted to index funds. No one has ever taken any interest and asks questions.

I don't know too many people who indexes - crazy huh? I can't even get my family to explore it - they all use an advisor and think I'm nuts

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JMacDonald
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Re: Who do you guys discuss investment strategies with?

Post by JMacDonald » Fri Sep 20, 2013 10:35 am

Besides reading on this forum, I occasionally discuss investing with my brother. He came to me some years ago and asked for advice. I put him into a diversified portfolio with Vanguard. Of course, now he thinks I am a genius. :happy
Best Wishes, | Joe

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Re: Who do you guys discuss investment strategies with?

Post by magneto » Fri Sep 20, 2013 10:47 am

At the end of each quarter my wife and I look up the current prices and update the spreadsheet, so my wife is aware of what investments we hold and hopefully why.

The most productive discussions are on this forum, and I would like to thank everyone that has helped and informed me.
Last edited by magneto on Fri Sep 20, 2013 12:26 pm, edited 1 time in total.
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Sriracha
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Re: Who do you guys discuss investment strategies with?

Post by Sriracha » Fri Sep 20, 2013 10:54 am

Of all of my closer friends, the one most interested in investing is a firm believer in stock picking. We've been friends since college, many moons ago, and I think he's kind of disappointed in me for adopting a Bogleheadish approach. His view is sort of like, "you're way too smart to be a do-nothing index guy. Spend some time picking individual stocks ... you'll make out way better that way." Since neither one of us has any plans to change our ways, our investing discussions these days stick to current events. He used to bring up companies he thought were ripe for gains, but he's even dropped that b/c he knows I won't bite. (I did once, a few decades ago, and still regret it. At least I learned my lesson, though.)

My wife is content to leave this stuff to me. I give her the equivalent of a one-page status report each January and that, along with our IPS, is enough for her.

It doesn't come up all that much in the family either. Once in a while my youngest brother-in-law will raise the topic with me but he always seems to want a path that provides outsized rewards with little or no risk. So would I, but.... My brother and I used to talk about it on occasion, but not since he cracked and liquidated his equities during the last financial crisis. I don't know if he ever got back in. He'll either tell me at some point or not.
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Ged
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Re: Who do you guys discuss investment strategies with?

Post by Ged » Fri Sep 20, 2013 11:12 am

Sooner or later investing comes up in conversations with friends and family.

Coworker 1 - says he's not sure how much money he will be able to spend in retirement. I recommended a couple of calculators and "Four Pillars of Investing". Recently he told me his advisor said he has to work for a few more years. He's 62. I don't know if he is possible to convert.

Boss - Said he's a JPM customer but feels they haven't done anything positive for him. We also had a discussion about REITs. Later he asks me what I think about investing in discount funds. I tell him I think costs are important and that I invest in index funds. I think he may eventually become a convert.

Brothers - 3 of them. They play the stock markets, buying individual stocks. Sometimes I get 'hot tips' from them. My father was like this too. They do not use advisors. We talk about investing. They think I'm a fuddy-duddy and overly conservative.

Sons - gave them Random Walk Down Wall Street. They seem to be buying into the ideas. They are pretty frugal and have no debts.

Wife - not comfortable with investing and has about zero risk tolerance. Frugal. Has some money from an inheritance and keeps it in a MM account. She lets me manage her 401Ks though. If I should kick the bucket I'm worried about what she would do. This is my project now. I hope to get her into the 3 fund method.

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careytilden
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Re: Who do you guys discuss investment strategies with?

Post by careytilden » Fri Sep 20, 2013 11:43 am

As a few others have written, I work and socialize with a lot of very smart and thoughtful folks, but it's a tough subject. Even my wife gets uncomfortable with too much detail. Most people are ok with some basic concepts--high savings rate and low costs. I stick to those ideas and figure it might at least get people thinking. I've tried discussing really basic asset allocation (stocks vs bonds), with mixed success. But regardless of how basic, it's generally a pretty one sided conversation. I really only get any depth from the fine folks here.

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Abe
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Re: Who do you guys discuss investment strategies with?

Post by Abe » Fri Sep 20, 2013 11:56 am

I gave up on discussing investment strategies with friends a long time ago. Some are not interested, the ones that are interested generally have a unrealistic and overoptimistic view about investing. They think index and buy and hold investing is too boring and takes too long. I discuss investing with my wife. She's a good listener, although I don't think she is real interested. Other than my wife, about the only place I can discuss investment strategy is here on the Boglehead site. I had a cousin who asked me for investment advise some time ago. Someone at Edward Jones was trying to set him up in a AUM account with a 1% fee it think. I suggested he go with one of the Life Strategy funds at Vanguard and he did that. The last time I talked to him, he was happy with it. Of course, the Edward Jones guy keeps calling promising him the moon, but he doesn't want to talk about risk. I have another cousin who is a complete disaster case when it comes to investing. Someone sold him a pie in the sky currency trading course and "he tried to get me in on it". How can you help someone like that? They want to get rich quick and it's not going to happen. Someone told me a long time ago that the difference between a rich man and a poor man was that a rich man thinks in longer time spans. I know that's not universally true, but I think there is some truth to it.
Slow and steady wins the race.

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Clever_Username
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Re: Who do you guys discuss investment strategies with?

Post by Clever_Username » Fri Sep 20, 2013 12:04 pm

I'm 30, and when I talk about it with most people my age, they think I'm trying to sell them something. So I've stopped unless they bring it up.

I have one friend who, along with her husband, thinks about this stuff. She and I have conversations about money.

Others I try to help when they ask, but I think too many of my friends would rather complain than fix things. One of them complains that he has five old 401(k)s to keep track of. I suggest he roll them to an IRA, and he says "but that costs money." :oops:

I'm very hesitant to suggest to a friend any particulars, and if asked, all I'll do in that case is say what I have. I'm worried that if I suggest that, say, the above friend rolls his old 401(k)s to Vanguard, and if he does so and there is a market turndown shortly thereafter, he'll think I gave him bad advice.

So, to actually answer the question... I read this board regularly.
"What was true then is true now. Have a plan. Stick to it." -- XXXX, _Layer Cake_

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prudent
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Re: Who do you guys discuss investment strategies with?

Post by prudent » Fri Sep 20, 2013 12:12 pm

Nobody except you good folks. Wife is dyslexic and she's not good with numbers. She will listen patiently when we review where we are once a year, but I know it goes in one ear and out the other. I don't talk money with friends or family - family would just ask for handouts, friends would be jealous and I know that would affect our friendship. Even if that wasn't the case, I don't want to give advice to others in case it doesn't work out (plus who wants to be told that in essence they're not doing it right?), and I know I wouldn't listen to advice others would give to me as I'm pretty set in my Boglehead ways.

I'm actually quite glad I long ago swore off talking money with anyone I know personally. Nothing good ever came of it.

The Wizard
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Re: Who do you guys discuss investment strategies with?

Post by The Wizard » Fri Sep 20, 2013 12:20 pm

I have a HS reunion coming up shortly where I'll talk with lots of former classmates.
And given that I've retired earlier this year, I'll probably touch on that and some basic finances a bit with some of them.
But I'll dumb it down a bit to prevent a lot of glazed-over eyes...
Attempted new signature...

Mike Scott
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Re: Who do you guys discuss investment strategies with?

Post by Mike Scott » Fri Sep 20, 2013 12:26 pm

My wife and the dog. I think the dog is more interested than my wife as long as everything is going well. I sometimes argue both sides of an issue with myself if that counts. Three kids who have the concept of saving and being frugal and are about ready for an introduction to long-term investing and the benefits of compounded return although they seem to be very risk averse.

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frugaltype
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Re: Who do you guys discuss investment strategies with?

Post by frugaltype » Fri Sep 20, 2013 2:11 pm

I am myself a big fan of the don't lose money philosophy. Without sliding too far into stereotyping, I read some time ago that even very wealthy women fear becoming bag ladies.

I have a classmate who is as interested in finances as I am. We exchange ideas and news, but not to the level of detail of how much money we have in things.

kingpoppy
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Re: Who do you guys discuss investment strategies with?

Post by kingpoppy » Fri Sep 20, 2013 2:52 pm

I discuss this stuff with my wife, but rarely anyone else because I usually just end up inadvertently making them feel bad about their decisions, such as when my friend recently started talking about his investment in gold and individual biotech stocks. Plus, these kinds of conversations inevitably lead to an inquiry for "hot stock tips", and it seems that low-expense index funds isn't an acceptable response for some reason.

MathWizard
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Re: Who do you guys discuss investment strategies with?

Post by MathWizard » Fri Sep 20, 2013 2:53 pm

techcrium wrote:Who do you discuss investment strategies with instead of random people on the internet?

I find that I basically talk to my dad or brother mainly. I would like to find some more people to discuss investment strategies with though. None of my friends invest so I don't bother bringing that topic up ever.
This board is probably the only place I discuss investments with, other than my wife and kids.
My wife because I consider our assets as one, and the kids because as their parent, I feel it is my duty
to teach them finances, just like lots of other things. I have nieces and nephews that were disasters
at finances, I hope the same does not happen to my kids.

Most people I know either want nothing to do with the stock market or want a get-rich tip.
Investing the way I do is like watching paint dry. It hardly make for exciting topics except for those
who are "into it" like the people on this board.

I'm used to it.
Outside of my family, nobody wanted to talk science or mathematics or philosophy when I was growing up.
On the other hand debating which kind of tractor was the best was not a topic I was interested in either.

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midareff
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Re: Who do you guys discuss investment strategies with?

Post by midareff » Fri Sep 20, 2013 3:40 pm

I talked to myself on my daily 2.25 mile walks and read this board vociferously while I was deciding my strategy. For the most part the IP I developed is semi-strict but not rigid. I follow it and still talk to myself occasionally since no one knows my particular situation as well as I do. I still read the board now and then. .. and still find it a wonderful source of knowledge.

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Clearly_Irrational
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Re: Who do you guys discuss investment strategies with?

Post by Clearly_Irrational » Fri Sep 20, 2013 4:46 pm

It's hard to find someone with both the interest and capacity to have a worthwhile discussion. This is the response I usually get if I start talking finance:

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