Scott Burns is Signing Off -- He'll be missed

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CULater
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Scott Burns is Signing Off -- He'll be missed

Post by CULater » Fri Jan 27, 2017 3:22 pm

I sadly read that after 40 years as a personal finance writer and commentator, one of my favorites -- Scott Burns, author of the "Couch Potato" portfolio -- is saying farewell.

https://assetbuilder.com/knowledge-cent ... and-thanks
May you have the hindsight to know where you've been, The foresight to know where you're going, And the insight to know when you've gone too far. ~ Irish Blessing

John Z
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Re: Scott Burns is Signing Off -- He'll be missed

Post by John Z » Fri Jan 27, 2017 4:12 pm

Thanks for this!

maj
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Re: Scott Burns is Signing Off -- He'll be missed

Post by maj » Fri Jan 27, 2017 4:16 pm

Absolute integrity.
Been reading and following his advice for decades.
Scott, thanks for your guidance.
peace

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rob
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Re: Scott Burns is Signing Off -- He'll be missed

Post by rob » Fri Jan 27, 2017 4:19 pm

Good for him.... seems like a nice end with an open door if he is bothered writing more.... Seems like what we all aim for no?
| Rob | Its a dangerous business going out your front door. - J.R.R.Tolkien

delamer
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Re: Scott Burns is Signing Off -- He'll be missed

Post by delamer » Fri Jan 27, 2017 8:09 pm

I was just telling my husband that my favorite personal finance columnist is retiring, right before I saw this thread!

Scott Burns was the writer who introduced me to and showed me the wisdom of index investing. That was his most important, but far from only, contribution to our family's financial success.

Lawrence Kotlikoff, his co-author, is taking over the column.

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Wildebeest
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Re: Scott Burns is Signing Off -- He'll be missed

Post by Wildebeest » Fri Jan 27, 2017 10:13 pm

I tried several times to read his sign off and every which time I tried it was obscured by advertizing for " the knowledge center" on two thirds, so I could not read his actual post.

This probably speaks more to my limited tech abilites to read his post, but the advertizing for the knowledge center is not a great send off for anybody.

I thought Scott Burns should deserve better.
The Golden Rule: One should treat others as one would like others to treat oneself.

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rob
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Re: Scott Burns is Signing Off -- He'll be missed

Post by rob » Fri Jan 27, 2017 10:20 pm

Wildebeest wrote:I tried several times to read his sign off and every which time I tried it was obscured by advertizing for " the knowledge center" on two thirds, so I could not read his actual post.

This probably speaks more to my limited tech abilites to read his post, but the advertizing for the knowledge center is not a great send off for anybody.

I thought Scott Burns should deserve better.
It's very clean from this side... a little at the top and bottom but maybe 1 inch and auto disappear..... Try a modern browser with adblock.... not sure why the difference.
| Rob | Its a dangerous business going out your front door. - J.R.R.Tolkien

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tooluser
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Re: Scott Burns is Signing Off -- He'll be missed

Post by tooluser » Fri Jan 27, 2017 10:37 pm

1/3 portfolio (mostly) per Taylor Larrimore 3-fund portfolio
1/3 portfolio (mostly) per Scott Burns's 10-speed portfolio
1/3 portfolio per circumstances

Mr. Burns was my gateway to Bogleheads. :beer

With the 10-speed portfolio, I find I am always winning somewhere, and have a clear re-balancing opportunity elsewhere. It's the most active part of my portfolio. It has been easy to stay the course. 3-fund is even easier, almost set and forget. I don't know which is better, not enough time has elapsed, but both are adequate to my goals, at worst, which is saying quite a lot.
Easy come. Easy go. But the rate of change for each seems quite different.

JohnDoh
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Re: Scott Burns is Signing Off -- He'll be missed

Post by JohnDoh » Sat Jan 28, 2017 12:49 am

Scott Burns wrote:I owe a particular debt to Miss Ozgood, my 11th grade English teacher. I wanted to be an engineer and an astronaut, but she started the fire. She asked her students to write sentences instead of diagraming them, and I did.
John Steinbeck wrote:School is not so easy and it is not for the most part very fun, but then, if you are very lucky, you may find a teacher. Three real teachers in a lifetime is the very best of luck. I have come to believe that a great teacher is a great artist and that there are as few as there are any other great artists. Teaching might even be the greatest of the arts since the medium is the human mind and spirit. My three had these things in common. They all loved what they were doing. They did not tell — they catalyzed a burning desire to know. Under their influence, the horizons sprung wide and fear went away and the unknown became knowable. But most important of all, the truth, that dangerous stuff, became beautiful and precious.

rr2
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Re: Scott Burns is Signing Off -- He'll be missed

Post by rr2 » Sat Jan 28, 2017 1:16 am

JohnDoh wrote:
Scott Burns wrote:I owe a particular debt to Miss Ozgood, my 11th grade English teacher. I wanted to be an engineer and an astronaut, but she started the fire. She asked her students to write sentences instead of diagraming them, and I did.
John Steinbeck wrote:School is not so easy and it is not for the most part very fun, but then, if you are very lucky, you may find a teacher. Three real teachers in a lifetime is the very best of luck. I have come to believe that a great teacher is a great artist and that there are as few as there are any other great artists. Teaching might even be the greatest of the arts since the medium is the human mind and spirit. My three had these things in common. They all loved what they were doing. They did not tell — they catalyzed a burning desire to know. Under their influence, the horizons sprung wide and fear went away and the unknown became knowable. But most important of all, the truth, that dangerous stuff, became beautiful and precious.
JohnDoh -- Thank you for sharing these wonderful quotes. I am in full agreement with both of them.

rj49
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Re: Scott Burns is Signing Off -- He'll be missed

Post by rj49 » Sat Jan 28, 2017 1:53 am

His best idea, I would say, is the Couch Potato portfolio, with half in U S stocks, half in bonds. I wish I 'd adopted and held that portfolio all my life, in retrospect. Unfortunately, he started fiddling with it and made many variations after the 2000 crash, and then became a DFA/slice-and-dicer advisor. He wrote interesting articles about low-cost retirement, including moving to Mexico and even living in a car trailer.

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stemikger
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Re: Scott Burns is Signing Off -- He'll be missed

Post by stemikger » Sat Jan 28, 2017 5:44 am

Good Luck Mr. Burns. Thank you for introducing me to the Couch Potato portfolio. It is as simple as they get, but I did find an even simpler portfolio which I also know has your blessing and close enough to the 50/50 Couch Potato. The Vanguard Balanced Index Fund. Now, I don't even have to get off the couch once a year to rebalance.

Good Luck on your future plans!!!
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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burt
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Re: Scott Burns is Signing Off -- He'll be missed

Post by burt » Sat Jan 28, 2017 7:37 am

It was Scott Burns who got me started on index funds and diversification 18 years ago.
He was the gateway to Vanguard, Bogleheads, and many of the investment books listed on the Boglehead reading list.
I am convinced that if I hadn't discovered Scott Burns, most likely I would still be working and my Mother would be broke.

A very big thank-you to Scott Burns. You have made a huge impact on my family's financial well being.

burt

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friar1610
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Re: Scott Burns is Signing Off -- He'll be missed

Post by friar1610 » Sat Jan 28, 2017 12:11 pm

First learned of him via The Motley Fool's Retire Early Home Page when he was writing for the Dallas paper. I've always enjoyed his columns - straightforward and on-target. I wish him well!
Friar1610

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tooluser
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Re: Scott Burns is Signing Off -- He'll be missed

Post by tooluser » Sat Jan 28, 2017 10:10 pm

I hope someone will continue the Life of Riley index. Fascinating.

http://www.uexpress.com/scott-burns/201 ... mbs-higher
(First link on Google, the last report on this from Mr. Burns)
Easy come. Easy go. But the rate of change for each seems quite different.

Globalviewer58
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Re: Scott Burns is Signing Off -- He'll be missed

Post by Globalviewer58 » Sat Jan 28, 2017 11:00 pm

Scott Burns has been an inspiration and guiding force since my first read of his Dallas Morning News column in 1984. Way ahead of the crowd on low cost, simple indexing and living beneath your your means. Thanks for the millions, Scott!

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Wildebeest
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Re: Scott Burns is Signing Off -- He'll be missed

Post by Wildebeest » Sun Jan 29, 2017 8:05 pm

rob wrote:
Wildebeest wrote:I tried several times to read his sign off and every which time I tried it was obscured by advertizing for " the knowledge center" on two thirds, so I could not read his actual post.

This probably speaks more to my limited tech abilites to read his post, but the advertizing for the knowledge center is not a great send off for anybody.

I thought Scott Burns should deserve better.
It's very clean from this side... a little at the top and bottom but maybe 1 inch and auto disappear..... Try a modern browser with adblock.... not sure why the difference.
Thanks Rob, you are so right. It was my old browser.

I really liked his post. I really like most of his posts.

What is the matter with him, he is only 76 and what are deadlines? Why does he care about deadlines? ( on the other hand the NYT had an interesting article about the John Henryism in which stress makes you sicker: https://www.google.com/url?sa=t&rct=j&q ... 2982,d.bGs ).

I greatly enjoy his writings and I find him really funny. He stands for reason and is a gifted writer.

I would check daily if he had a new column and often was disappointed.

I will miss him.
The Golden Rule: One should treat others as one would like others to treat oneself.

brewsky
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Re: Scott Burns is Signing Off -- He'll be missed

Post by brewsky » Thu Feb 16, 2017 12:53 am

I have followed Scott Burns for many years and had high hopes that he would place his finance column in good hands. He chose his long-time friend and co-author Lawrence Kotlikoff. Imagine my surprise and dismay upon reading Mr Kotlikoff's latest Feb12th column, where he spends most of his article on a political rant, then sums it up by recommending readers sell ALL their equities and long bonds "until the dust clears".

Wow. It's too early for an April Fools joke column so I think he's serious. Truly sad to see Mr Burns column taken over by this fellow.
I won't provide a link to the column as it contains much disparaging politics so you will have to google it on your own.

tibbitts
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Re: Scott Burns is Signing Off -- He'll be missed

Post by tibbitts » Thu Feb 16, 2017 9:01 am

brewsky wrote:I have followed Scott Burns for many years and had high hopes that he would place his finance column in good hands. He chose his long-time friend and co-author Lawrence Kotlikoff. Imagine my surprise and dismay upon reading Mr Kotlikoff's latest Feb12th column, where he spends most of his article on a political rant, then sums it up by recommending readers sell ALL their equities and long bonds "until the dust clears".

Wow. It's too early for an April Fools joke column so I think he's serious. Truly sad to see Mr Burns column taken over by this fellow.
I won't provide a link to the column as it contains much disparaging politics so you will have to google it on your own.
Wow, I read the Feb 12 article and that is sad.

Whakamole
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Re: Scott Burns is Signing Off -- He'll be missed

Post by Whakamole » Thu Feb 16, 2017 9:42 am

There's already a post in "Help with Personal Investments" from someone who read the article and got scared. I have to wonder what Scott thinks of this, I don't remember his articles being like this.

beardsworth
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Re: Scott Burns is Signing Off -- He'll be missed

Post by beardsworth » Thu Feb 16, 2017 10:51 am

brewsky wrote:I have followed Scott Burns for many years and had high hopes that he would place his finance column in good hands. He chose his long-time friend and co-author Lawrence Kotlikoff. Imagine my surprise and dismay upon reading Mr Kotlikoff's latest Feb12th column, where he spends most of his article on a political rant, then sums it up by recommending readers sell ALL their equities and long bonds "until the dust clears".

Wow. It's too early for an April Fools joke column so I think he's serious. Truly sad to see Mr Burns column taken over by this fellow.
I won't provide a link to the column as it contains much disparaging politics so you will have to google it on your own.
I agree that the "liquidate almost everything" recommendation of the Kotlikoff essay seems a bit extreme.

I disagree that the article is "a political rant," because I don't see anything in it that's obviously untrue. Listing a set of facts and observations, even if they're unpleasant to contemplate, does not, by itself, make a commentary "a political rant."

Here is a link, for anyone who wishes to read and form his/her own conclusion:

http://www.dallasnews.com/business/pers ... market-now

In any case, I agree that we can't expect Scott Burns' replacement to be like, or sound like, Scott Burns.

bigred77
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Re: Scott Burns is Signing Off -- He'll be missed

Post by bigred77 » Thu Feb 16, 2017 10:59 am

tooluser wrote:I hope someone will continue the Life of Riley index. Fascinating.

http://www.uexpress.com/scott-burns/201 ... mbs-higher
(First link on Google, the last report on this from Mr. Burns)

+1

His Life of Riley index and his Wealth Scoreboard were my favorite reoccurring posts that he did.

inbox788
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Re: Scott Burns is Signing Off -- He'll be missed

Post by inbox788 » Thu Feb 16, 2017 12:03 pm

beardsworth wrote:In any case, I agree that we can't expect Scott Burns' replacement to be like, or sound like, Scott Burns.
I'm not familiar with Scott Burns nor his replacement Laurence Kotlikoff. I haven't read his column or maybe I have, just haven't paid attention to the author, since he's been doing this along time. Anyway, if someone is revered here, it's often worth taking a look.
Scott Burns is a newspaper columnist and author who has covered personal finance and investments for over 30 years. He is known for creating the "Couch Potato Portfolio" investment strategy, which advocates the use of index funds over managed funds or stock-picking.[1] In 2006, he co-founded the Web startup AssetBuilder, where he serves as chief investment strategist.
https://en.wikipedia.org/wiki/Scott_Bur ... columnist)
[Laurence Kotlikoff, American academic and politician, economics professor at Boston University]
Kotlikoff has made contributions in the fields and subfields of generational economics, fiscal policy, computational economics, economic growth, national saving, intra- and intergenerational inequality, sources of wealth accumulation, intergenerational altruism and intra-family risk sharing, banking, and personal finance. He has also done work on Social Security, healthcare, tax, and banking reform.
https://en.wikipedia.org/wiki/Laurence_Kotlikoff

His article "Why you should get out of the stock market — now" does seem extreme. And I found another reference here.

http://usawatchdog.com/financial-system ... kotlikoff/

From the very limited information I have so far about these writers, my expectation is that the column will be very different going forward and nothing alike. In any case, I've added Scott Burns archives to the long list of things to read (which I might not get to). And I'll pay a little attention to his replacement, who is either way out there or has some deeper insights that we may turn out to appreciate later, or a little of both.

Wakefield1
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Re: Scott Burns is Signing Off -- He'll be missed

Post by Wakefield1 » Thu Feb 16, 2017 2:33 pm

If the new writer is "politician" was he associated with the previous Administration?

Whakamole
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Re: Scott Burns is Signing Off -- He'll be missed

Post by Whakamole » Thu Feb 16, 2017 2:55 pm

Wakefield1 wrote:If the new writer is "politician" was he associated with the previous Administration?
I do not believe so, he attempted to run for President on a third party's platform in 2012 (but did not win the nomination); in addition, he tried a write-in campaign for 2016.

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Re: Scott Burns is Signing Off -- He'll be missed

Post by goblue100 » Thu Feb 16, 2017 3:36 pm

Globalviewer58 wrote:Scott Burns has been an inspiration and guiding force since my first read of his Dallas Morning News column in 1984. Way ahead of the crowd on low cost, simple indexing and living beneath your your means. Thanks for the millions, Scott!
+1
Scott was the first place I heard about index funds. I would guess it was the late 80's, early 90's. Sadly it took me until the dot com bubble to get fully on board.
I have to agree I was disappointed that the first article by Mr. Kotlikoff was a sell everything and hide piece. Scott was a passive investor who believed our collective best chance was to capture the return of the market in a well diversified portfolio.
Some people are immune to good advice. - Saul Goodman

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