Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

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Mel Lindauer
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Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Mel Lindauer » Wed Mar 14, 2018 3:22 pm

Hello Everyone:

This year's Moderator for the Question and Answer session with our friend and mentor, Jack Bogle will be my good friend and Conference teammate, Ed Rager.

The Q&A will take place during our annual get-together with Jack at the 2018 Bogleheads Conference in Philadelphia on October 3-5.

Many of you won't be able to attend to ask your question in person, but you can still post your question(s) for Jack right here on this thread.

Even if you are registered and plan to attend the Conference, you should still post your question(s) for Jack here.

Shortly before the Conference, Ed will consolidate all the accumulated questions by subject matter, and then ask Jack to respond to as many of your questions as time allows.

Fire away!

Best regards to all,

Mel
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by triceratop » Thu Mar 15, 2018 1:33 pm

A question suggested in a recent thread which could be thought provoking (it may also need advance warning or be impractical if Bogle is not aware of the current international valuations and dividend yields):

This is a two part question, part computation and part analysis. Would you please apply your valuation and dividend model for expected returns to foreign equities? (edit to add: I don't recall him ever being asked this in his many sit-downs with e.g. Christine Benz or other television appearances) How does the number compare to the same computations for US equities at the present time? How do you reconcile these numbers with your long-held and consistent statements that there is no need to invest outside the US.
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Rager1 » Thu Mar 15, 2018 8:12 pm

Don't be bashful, go ahead and ask you questions here.

Ed

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by ray.james » Fri Mar 16, 2018 12:33 pm

First of all thanks for this opportunity to ask questions.

1) Given the current yield curve, is it any need/worth to take the "risk" by choosing a longer term bond like 10 yrs, 30 years.
Last edited by ray.james on Fri Mar 16, 2018 1:38 pm, edited 1 time in total.
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by staythecourse » Fri Mar 16, 2018 1:23 pm

I'll throw my usual out there:

If you were born Mr. Yasuhara from Tokyo would you have been advocating 100% US equities this whole time or is that only because you were born Mr. Bogle from Montclair, NJ?

Good luck.

p.s. I am not sure if someone has already asked my perpetual query, but if it has please let me know the response.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Mel Lindauer » Fri Mar 16, 2018 7:08 pm

staythecourse wrote:
Fri Mar 16, 2018 1:23 pm
I'll throw my usual out there:

If you were born Mr. Yasuhara from Tokyo would you have been advocating 100% US equities this whole time or is that only because you were born Mr. Bogle from Montclair, NJ?

Good luck.

p.s. I am not sure if someone has already asked my perpetual query, but if it has please let me know the response.


I seem to recall asking Jack that question before, but I don't recall his response. You may want to check out the videos of my Q&As with Jack.
Best Regards - Mel | | Semper Fi

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by staythecourse » Fri Mar 16, 2018 9:49 pm

Mel Lindauer wrote:
Fri Mar 16, 2018 7:08 pm
staythecourse wrote:
Fri Mar 16, 2018 1:23 pm
I'll throw my usual out there:

If you were born Mr. Yasuhara from Tokyo would you have been advocating 100% US equities this whole time or is that only because you were born Mr. Bogle from Montclair, NJ?

Good luck.

p.s. I am not sure if someone has already asked my perpetual query, but if it has please let me know the response.


I seem to recall asking Jack that question before, but I don't recall his response. You may want to check out the videos of my Q&As with Jack.
Much thanks Mel. Will try to do some investigatory work. That is unless someone will do the dirty work for me?? :D

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

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by mhadden1 » Fri Mar 16, 2018 10:09 pm

In the past Mr. Bogle has supported a strong tilt toward U.S. investing, even 100%

Vanguard, for example, sees something like 30% of stocks in international as a "sweet spot" as reflected in their various all-in-one funds.

As of now has Mr. Bogle's thinking evolved?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by TheQuietMan » Fri Mar 16, 2018 10:11 pm

I have a basic question from a new member (joined in January). I’ve read the threads on the forum, but I’d like to hear it from the man himself. What strategies would you use to avoid the sequence of returns risk?

Thank you,

Andy

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by staythecourse » Fri Mar 16, 2018 10:15 pm

TheQuietMan wrote:
Fri Mar 16, 2018 10:11 pm
I have a basic question from a new member (joined in January). I’ve read the threads on the forum, but I’d like to hear it from the man himself. What strategies would you use to avoid the sequence of returns risk?

Thank you,

Andy
Great question. I would like to hear the answer to that. Will be interested if he throws out SPIA or other ideas of a LMP. Not to steal the thread, but has he discussed that approach before.

Good luck.

p.s. Welcome aboard and keep up the great questions.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Sandtrap » Fri Mar 16, 2018 10:17 pm

Thoughts on Vanguard's increasing recommendation of "International Bond" as part of the "4 fund portfolio"?
Does this make the basic "3 fund portfolio (Total Stock, Total International, Total Bond) obsolete in todays economic environment and going forward?

Aloha,
jim :D

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Sandtrap » Fri Mar 16, 2018 10:19 pm

staythecourse wrote:
Fri Mar 16, 2018 10:15 pm
TheQuietMan wrote:
Fri Mar 16, 2018 10:11 pm
I have a basic question from a new member (joined in January). I’ve read the threads on the forum, but I’d like to hear it from the man himself. What strategies would you use to avoid the sequence of returns risk?

Thank you,

Andy
Great question. I would like to hear the answer to that. Will be interested if he throws out SPIA or other ideas of a LMP. Not to steal the thread, but has he discussed that approach before.

Good luck.

p.s. Welcome aboard and keep up the great questions.
Also would be greatly interested in Jack Bogle's answer to this.
Especially the relevance of SPIA's (single or ladder) in reducing Sequence of Returns Risk for retirees.

j

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by staythecourse » Fri Mar 16, 2018 10:22 pm

Sandtrap wrote:
Fri Mar 16, 2018 10:17 pm
Thoughts on Vanguard's increasing recommendation of "International Bond" as part of the "4 fund portfolio"?
Does this make the basic "3 fund portfolio (Total Stock, Total International, Total Bond) obsolete in todays economic environment and going forward?

Aloha,
jim :D
For a man who doesn't see a need for international equities I don't see him saying one needs an allocation to international bonds. Just a hunch.

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

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Ron Scott » Sun Mar 18, 2018 3:41 pm

In the most recent update to "Common Sense Investing" you discussed a 1.6% real return over the coming decade. Given the run up in the market since publication do you think 1.6% is a bit high? Should we be looking at 1.3ish%? Could we see some negative real returns in the short term?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by bikechuck » Sun Mar 18, 2018 3:50 pm

staythecourse wrote:
Fri Mar 16, 2018 10:15 pm
TheQuietMan wrote:
Fri Mar 16, 2018 10:11 pm
I have a basic question from a new member (joined in January). I’ve read the threads on the forum, but I’d like to hear it from the man himself. What strategies would you use to avoid the sequence of returns risk?

Thank you,

Andy
Great question. I would like to hear the answer to that. Will be interested if he throws out SPIA or other ideas of a LMP. Not to steal the thread, but has he discussed that approach before.

Good luck.

p.s. Welcome aboard and keep up the great questions.
What the heck is a LMP?

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by TravelGeek » Sun Mar 18, 2018 3:56 pm

bikechuck wrote:
Sun Mar 18, 2018 3:50 pm
What the heck is a LMP?
Liability Matched Portfolio

eg viewtopic.php?t=142674

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by stemikger » Mon Mar 19, 2018 6:37 am

Hello Mr. Bogle "Jack"

It is pretty much common knowledge in the Boglehead community that Warren Buffett endorsed the index investing strategy as the way to go for most people. Although he endorses index investing, he has been on record several times saying bond investing is a terrible investment.

If you were starting over today, would your advice be the same as Warren's and simply tell the average investor to put 10% in treasuries to feel secure and put 90% in the Vanguard Index 500.

He has given this same advice to people in their 20s and 70s.

Thank you Jack!!
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by stemikger » Mon Mar 19, 2018 6:46 am

staythecourse wrote:
Fri Mar 16, 2018 1:23 pm
I'll throw my usual out there:

If you were born Mr. Yasuhara from Tokyo would you have been advocating 100% US equities this whole time or is that only because you were born Mr. Bogle from Montclair, NJ?

Good luck.

p.s. I am not sure if someone has already asked my perpetual query, but if it has please let me know the response.
Hey Stay the Course

Here is the link to the video. Your question was asked by Mel and answered by Jack.

https://vimeo.com/channels/bogleheads/241479867
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by car733 » Mon Mar 19, 2018 8:00 am

newbie question:

I am giving my first steps with funds.
I like the idea of diversification but I am not very happy holding stocks of companies like Philip Morris.

Is there anything to be done?

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by staythecourse » Mon Mar 19, 2018 9:23 am

stemikger wrote:
Mon Mar 19, 2018 6:46 am
staythecourse wrote:
Fri Mar 16, 2018 1:23 pm
I'll throw my usual out there:

If you were born Mr. Yasuhara from Tokyo would you have been advocating 100% US equities this whole time or is that only because you were born Mr. Bogle from Montclair, NJ?

Good luck.

p.s. I am not sure if someone has already asked my perpetual query, but if it has please let me know the response.
Hey Stay the Course

Here is the link to the video. Your question was asked by Mel and answered by Jack.

https://vimeo.com/channels/bogleheads/241479867
That is so cool!!

Thanks for the link. Man, there are not many times I get goosebumps, but watching the video and seeing him answer questions is just plain cool.

Good luck.
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by book lover » Mon Mar 19, 2018 4:58 pm

Who were your role models growing up and who do you admire today?

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by cegibbs » Mon Mar 19, 2018 8:22 pm

stemikger wrote:
Mon Mar 19, 2018 6:37 am
Hello Mr. Bogle "Jack"

It is pretty much common knowledge in the Boglehead community that Warren Buffett endorsed the index investing strategy as the way to go for most people. Although he endorses index investing, he has been on record several times saying bond investing is a terrible investment.

If you were starting over today, would your advice be the same as Warren's and simply tell the average investor to put 10% in treasuries to feel secure and put 90% in the Vanguard Index 500.

He has given this same advice to people in their 20s and 70s.

Thank you Jack!!
Great question!

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Mon Mar 19, 2018 9:18 pm

Jack,

What sources of financial news do you follow or recommend?

What sorts of things not related to finance and investing do you enjoy reading?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by buccimane » Tue Mar 20, 2018 11:18 am

stemikger wrote:
Mon Mar 19, 2018 6:46 am
staythecourse wrote:
Fri Mar 16, 2018 1:23 pm
I'll throw my usual out there:

If you were born Mr. Yasuhara from Tokyo would you have been advocating 100% US equities this whole time or is that only because you were born Mr. Bogle from Montclair, NJ?

Good luck.

p.s. I am not sure if someone has already asked my perpetual query, but if it has please let me know the response.
Hey Stay the Course

Here is the link to the video. Your question was asked by Mel and answered by Jack.

https://vimeo.com/channels/bogleheads/241479867

I've been saying his last name wrong this whole time :oops: just watched this great video, and that was the biggest surprise.
A man convinced against his will is of the same opinion still

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Wed Mar 21, 2018 6:26 am

What does Jack see as the future of ETFs, and the relationship between index mutual funds and ETFs? Have ETFs gone "too far, too fast"?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Thu Mar 22, 2018 6:42 am

If Jack could travel back in time, which person or people would he most like to meet?

If Jack could travel back in time, what event or events would he most like to witness?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by tennisplyr » Thu Mar 22, 2018 6:52 am

Are there any other career fields besides financial services that you were thinking about entering and why didn't you go any of those routes?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by sleepysurf » Thu Mar 22, 2018 8:46 am

Has your son, who runs a boutique firm utilizing an ACTIVE investment philosophy, ever altered your own thinking about PASSIVE vs. ACTIVE?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Lauretta » Fri Mar 23, 2018 8:20 am

sleepysurf wrote:
Thu Mar 22, 2018 8:46 am
Has your son, who runs a boutique firm utilizing an ACTIVE investment philosophy, ever altered your own thinking about PASSIVE vs. ACTIVE?
Interesting point, I didn't know about it. According to this WSJ article Mr Bogle has invested some money in his son's actively managed small cap fund:
https://www.wsj.com/articles/in-bogle-f ... 1385590177
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by rkhusky » Fri Mar 23, 2018 9:35 am

Do you like Vanguard's Target Retirement funds and would you recommend them to most investors for their tax-advantaged accounts?

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Jon H » Sun Mar 25, 2018 5:50 pm

Mr. Bogle,

What is your current position on buying and holding international stock index funds and international bond index funds?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Sun Mar 25, 2018 6:56 pm

Jack,

What do you believe is the "American secret" (and I suspect it's not a secret)? Why has America been such a success over the past century and a half, or more?

Will America's leading position in the world continue, or do you see the end of America's era?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Mon Mar 26, 2018 1:44 pm

Jack,

What is "risk"?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Mon Mar 26, 2018 7:01 pm

Jack,

What is your biggest regret? What do you wish you'd done differently?

What do you consider the greatest personal attribute that has led to your success?
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | There are many roads to doublin'. | Original Vanguard Diehard

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by SQ7N3mvB » Wed Mar 28, 2018 7:44 am

The market for Boglehead-style individual HSA investment accounts is very limited.

The few brokerage options that do exist (HSABank/TDAmeritrade for example) tend to have high monthly maintenance fees, commissions and/or esoteric ETFs with high expense ratios. TDAmeritrade, for example, no longer offers commission-free Vanguard ETFs. The Health Savings Administrators program that Vanguard links to charges a $45/year "administrative fee" and a 6.25 basis points per quarter "custodial fee". These fees do not appear to be waived regardless of how much a client holds at Vanguard.

Due to the nature of unforeseen health care expenses, as bills come due, being able to sell partial holdings commission-free is important. In addition, keeping some liquid cash in the HSA to pay smaller, unforeseen healthcare bills prudently avoids having to sell long-term core holdings in a down market. Unfortunately, cash in HSA accounts pays on the order of 0.16% while 4 week T-Bills currently pay 1.7%. No HSA custodial brokerage I've studied allows purchasing 4 week T-Bills at auction, money-market funds or other shorter-term low-risk instruments where a competitive rate of interest can be earned.

In light of the fact that HSAs are designed as a conservative savings vehicle for health care expenses rather than a short-term trading vehicle, the high fees and limited investment choices for individuals seems like a market opportunity with Jack Bogle written all over it.

Are there reasons why Vanguard doesn't provide full-featured HSA accounts for individuals just like it provides full-featured individual IRA accounts? Vanguard's Andy Clarke even called HSAs "The tax code's next sleeper hit" in October, 2017. What would have to happen in order for Vanguard to become the flagship of HSA providers for individuals?

Thank you.

J. Kloss
Swarthmore, PA
Last edited by SQ7N3mvB on Mon Apr 09, 2018 10:38 am, edited 4 times in total.

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by stemikger » Thu Mar 29, 2018 6:25 am

Jon H wrote:
Sun Mar 25, 2018 5:50 pm
Mr. Bogle,

What is your current position on buying and holding international stock index funds and international bond index funds?
Hey, Jon H, Jack answered your question at last years' Q&A. The video is below.

https://vimeo.com/channels/bogleheads/241479867

I know there are a lot of people who are fairly new to this site, but this question has been asked in this forum for years. I think we should all watch what Jack says about making our own decision regarding this matter and move on. He kindly and jokingly said at last years Q&A out of all the questions he hates, this one he hates the most. He pretty much said all he is going to say about it. He also wrote a very in depth chapter on it in Common Sense on Mutual Funds and for the record, I agree with him.
Last edited by stemikger on Thu Mar 29, 2018 6:30 am, edited 2 times in total.
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by stemikger » Thu Mar 29, 2018 6:27 am

sleepysurf wrote:
Thu Mar 22, 2018 8:46 am
Has your son, who runs a boutique firm utilizing an ACTIVE investment philosophy, ever altered your own thinking about PASSIVE vs. ACTIVE?
Good question, this has always baffled me. Jack has proven through simple arithmetic that investing in index funds is the gold standard, so why is his Son trying to beat them?
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Jon H » Thu Mar 29, 2018 10:54 am

stemikger wrote:
Thu Mar 29, 2018 6:25 am
Jon H wrote:
Sun Mar 25, 2018 5:50 pm
Mr. Bogle,

What is your current position on buying and holding international stock index funds and international bond index funds?
Hey, Jon H, Jack answered your question at last years' Q&A. The video is below.

https://vimeo.com/channels/bogleheads/241479867

I know there are a lot of people who are fairly new to this site, but this question has been asked in this forum for years. I think we should all watch what Jack says about making our own decision regarding this matter and move on. He kindly and jokingly said at last years Q&A out of all the questions he hates, this one he hates the most. He pretty much said all he is going to say about it. He also wrote a very in depth chapter on it in Common Sense on Mutual Funds and for the record, I agree with him.
Thanks. For anybody who wants to watch it, his reply begins at around 50:00.
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by stemikger » Thu Mar 29, 2018 4:43 pm

Jon H wrote:
Thu Mar 29, 2018 10:54 am
stemikger wrote:
Thu Mar 29, 2018 6:25 am
Jon H wrote:
Sun Mar 25, 2018 5:50 pm
Mr. Bogle,

What is your current position on buying and holding international stock index funds and international bond index funds?
Hey, Jon H, Jack answered your question at last years' Q&A. The video is below.

https://vimeo.com/channels/bogleheads/241479867

I know there are a lot of people who are fairly new to this site, but this question has been asked in this forum for years. I think we should all watch what Jack says about making our own decision regarding this matter and move on. He kindly and jokingly said at last years Q&A out of all the questions he hates, this one he hates the most. He pretty much said all he is going to say about it. He also wrote a very in depth chapter on it in Common Sense on Mutual Funds and for the record, I agree with him.
Thanks. For anybody who wants to watch it, his reply begins at around 50:00.
That's great Jon H. Glad you got to watch it. For the record, my question was asked at 59.04. Still thrilled Mel got to it!!
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Banjoman » Sat Mar 31, 2018 11:33 am

fortyofforty wrote:
Thu Mar 22, 2018 6:42 am
If Jack could travel back in time, which person or people would he most like to meet?

If Jack could travel back in time, what event or events would he most like to witness?
Nice Questions but, Could Mr. Bogle concentrate his answer to the "financial" figures/events of the past?

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fortyofforty
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Sat Mar 31, 2018 3:35 pm

Banjoman wrote:
Sat Mar 31, 2018 11:33 am
fortyofforty wrote:
Thu Mar 22, 2018 6:42 am
If Jack could travel back in time, which person or people would he most like to meet?

If Jack could travel back in time, what event or events would he most like to witness?
Nice Questions but, Could Mr. Bogle concentrate his answer to the "financial" figures/events of the past?
I thought it might be even more interesting to leave it wide open, to better know and appreciate Jack.
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | There are many roads to doublin'. | Original Vanguard Diehard

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a.trainer
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by a.trainer » Thu Apr 12, 2018 10:44 am

This is such a wonderful opportunity for those of us unable to attend.

Question:
Mr. Bogle, thank you for all you have done to revolutionize the investment industry! In the past you recommended one's retirement account include a portion of U.S. Bonds and U.S. Stocks. Is this still your current recommendation or are you suggesting International Stocks be added to a retirement account? Please elaborate if you'd wish.
Thank you again,
Adam (Ardmore, PA)

treypar
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by treypar » Fri Apr 13, 2018 1:32 pm

In the current raising interest rate environment, should the bond allocation of a portfolio be placed in the Total Bond Market index, short term bond index or a CD ladder?

book lover
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by book lover » Sat Apr 14, 2018 11:59 am

What books are you currently reading? Do you use an e reader such as a Kindle?

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fortyofforty
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Fri Jun 08, 2018 7:30 pm

Given your propensity to favor the simple over the complex, how would you rate the federal government's Thrift Savings Plan in terms of investment choices? Is it near to your ideal for a retirement plan?
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | There are many roads to doublin'. | Original Vanguard Diehard

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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by AlphaLess » Sat Jun 09, 2018 7:28 pm

staythecourse wrote:
Fri Mar 16, 2018 10:15 pm
TheQuietMan wrote:
Fri Mar 16, 2018 10:11 pm
I have a basic question from a new member (joined in January). I’ve read the threads on the forum, but I’d like to hear it from the man himself. What strategies would you use to avoid the sequence of returns risk?

Thank you,

Andy
Great question. I would like to hear the answer to that. Will be interested if he throws out SPIA or other ideas of a LMP. Not to steal the thread, but has he discussed that approach before.

Good luck.

p.s. Welcome aboard and keep up the great questions.
Excellent question.

However, my impression is that folks like Bogle and Buffet have large enough assets (relative to their spending) that they don't feel constrained by sequence of returns.

Certainly, hearing their answer about ordinary, average folks like us, would be helpful.
"You can get more with a kind word and a gun than with just a kind word." George Washington

AlphaLess
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by AlphaLess » Sat Jun 09, 2018 7:29 pm

Question to Mr Bogle:

- do you think you were lucky or successful?
"You can get more with a kind word and a gun than with just a kind word." George Washington

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packer16
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by packer16 » Thu Jun 28, 2018 7:10 pm

Given the relatively high price of equities these days and the low yields of bonds what are your thoughts on other income generating assets like NNN real estate, BDCs with good underwriting, infrastructure providers (toll roads, bridges, electricity transmission, railroads) or hard asset leasers (like ships or equipment)? Especially if these assets can be purchased for yields higher than the market & have better growth prospects?

What are your thoughts in including buy-backs in addition to dividend yields in your expected return framework as buybacks are widely used now as way to return cash to shareholders in addition to dividends?

Thanks for the opportunity to ask questions to Jack.

Packer
Buy cheap and something good might happen

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fortyofforty
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by fortyofforty » Thu Jul 05, 2018 6:25 am

Would it be fair to say the smartest "smart beta" strategy is simply to settle for beta itself?
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | There are many roads to doublin'. | Original Vanguard Diehard

Swampy
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Re: Q&A WITH JACK BOGLE - ASK YOUR QUESTIONS HERE

Post by Swampy » Thu Jul 05, 2018 9:13 am

We have earned our 'fortune' and lost it twice due to bad financial advice. After finally earning it back a third time, we discovered Bogleheads and indexing 6 years ago which has been nothing short of a miracle. We are more cautious and reserved as regards to asset allocation than the average Boglehead, having a large portion in cash and CD's (about 1/3rd of our investable net worth) yielding around 2-2.5% annually.

To those of us who are extremely risk averse, yet understand the importance of having low ER equity fund positions in our portfolio to keep up with inflation over the long term, how would you position your portfolio to last many years beyond a normal retirement (We have a young disabled child who will require lifetime care after are gone) and maintain an annual withdrawal rate of between 2.8% to 3.0%?

I will not be able to come to the meeting in October due to family commitments.

Thank you in advance.
If you fail to plan, you plan to fail. | Failure is not an option. | If I have seen further, it is because I was carried on the shoulders of giants.

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