Search found 2306 matches

by galeno
Wed Jun 30, 2021 4:53 pm
Forum: Non-US Investing
Topic: Bond ETF to choose from
Replies: 3
Views: 943

Re: Bond ETF to choose from

I like non-hedged AGGG and for USD hedged VAGU.
by galeno
Wed Jun 30, 2021 4:51 pm
Forum: Non-US Investing
Topic: My Portfolio: Seeking Advice [Panama, Non-US Investor]
Replies: 5
Views: 1013

Re: My Portfolio: Seeking Advice [Panama, Non-US Investor]

I advocate your 80%VWRA + 20% AGGU. Don't do synthetics or derivatives.

VWRA:

TER = ER + TR = 0.22 + 0.22% = 0.44%.

Dividend yield = 1.80%. DWT = 12.4%. TR = 0.22%.
by galeno
Wed Jun 30, 2021 4:26 pm
Forum: Non-US Investing
Topic: My Portfolio: Seeking Advice [Panama, Non-US Investor]
Replies: 5
Views: 1013

Re: My Portfolio: Seeking Advice [Panama, Non-US Investor]

I completely agree with your broker, asset allocation, and choice of UCITS ETFs.
by galeno
Thu Jun 24, 2021 12:56 pm
Forum: Non-US Investing
Topic: how are the 30% taxes deducted for a US domiciled ETF for a non-US resident?
Replies: 2
Views: 769

Re: how are the 30% taxes deducted for a US domiciled ETF for a non-US resident?

This 30% is on top of the L1WT of all the non-USA domiciled corporations in the ETF.

If I were forced to use a USA domiciled equity ETF again I would buy and hold VTI (100% USA) and not VT (60% USA).
by galeno
Mon Jun 14, 2021 10:48 am
Forum: Non-US Investing
Topic: Brokerage Options for Central Americans
Replies: 7
Views: 1191

Re: Brokerage Options for Central Americans

Thanks. I'm going to look into Saxo Bank. These days it's a good idea to have 2 stock brokers.
by galeno
Sun Jun 13, 2021 3:12 pm
Forum: Non-US Investing
Topic: Brokerage Options for Central Americans
Replies: 7
Views: 1191

Re: Brokerage Options for Central Americans

Yes indeed. So far, in our 35 years of investing as non-US investors, we've used 4 different brokers. We really don't care where the broker is domiciled. As long as it's a reliable broker that improves upon what we're getting now at IBKR. Right now our decent options are 1. IBKR and 2. Schwab Intern...
by galeno
Sat Jun 12, 2021 12:32 pm
Forum: Investing - Theory, News & General
Topic: Treasuries as your bond allocation?
Replies: 72
Views: 5270

Re: Treasuries as your bond allocation?

We are USD based non-US investors.

Last year we simplified our 100% USD FI allocation from

30% TIPS + 30% US Corps + 30% US Treasuries + 10% CASH

to

90% TWBM (40% USD) + 10% CASH.
by galeno
Fri Jun 11, 2021 5:33 pm
Forum: Investing - Theory, News & General
Topic: Treating all "Portfolio's" the same?
Replies: 4
Views: 535

Re: Treating all "Portfolio's" the same?

We LIKE to look at our OUR net worth in TWO ways. FINANCIAL assets (stocks, bonds, cash, pensions, life insurance etc) and REAL assets (RE, businesses, cars, etc).

How do YOU like to LOOK at your situation? It depends on YOU. Your way is fine.
by galeno
Fri Jun 11, 2021 5:08 pm
Forum: Non-US Investing
Topic: Limit orders on London Stock Exchange
Replies: 4
Views: 1029

Re: Limit orders on London Stock Exchange

With our current broker (IBKR on LSE) it takes me longer to do our annual rebalancing vs our previous broker (Schwab International on USA bourses). I WISH IBKR had a trading platform and customer service even 50% as good as Schwab International. If Schwab let us trade Irish domicled UCITS ETFs on th...
by galeno
Fri Jun 11, 2021 4:44 pm
Forum: Non-US Investing
Topic: Brokerage Options for Central Americans
Replies: 7
Views: 1191

Re: Brokerage Options for Central Americans

We've used IBKR for 6 years. Very happy. BUT...you never know what's going to happen when these huge trade-block related financial bureaucracies change the rules. The only other DECENT broker for us is Schwab International. We used them for 24 years before we switched to IBKR. The problem with Schwa...
by galeno
Thu Jun 10, 2021 12:22 pm
Forum: Non-US Investing
Topic: Brokerage Options for Central Americans
Replies: 7
Views: 1191

Brokerage Options for Central Americans

Any other GOOD brokers out there for Central Americans besides IBKR?
by galeno
Thu Jun 10, 2021 12:17 pm
Forum: Non-US Investing
Topic: Bond part of portfolio in inflation linked bond ETF
Replies: 3
Views: 922

Re: Bond part of portfolio in inflation linked bond ETF

My opinion. If you have >/= 60% equities you DO NOT need to hold inflation linked bonds which ALL have negative real yields. They can also have liquidity issues. Better choices for bonds would be nominal world bonds (~AGGG) or intermediate term US treasuries (~VDTY). With 70% equities you want your ...
by galeno
Tue Jun 08, 2021 10:36 pm
Forum: Investing - Theory, News & General
Topic: Are all Structured Notes Bad?
Replies: 93
Views: 6892

Re: Are all Structured Notes Bad?

I vote yes. All bad. This is a Boglehead board after all.
by galeno
Tue Jun 08, 2021 10:30 pm
Forum: Investing - Theory, News & General
Topic: The International Cap Weight (and Beyond!) Discussion Thread
Replies: 228
Views: 12362

Re: The International Cap Weight (and Beyond!) Discussion Thread

We are Boglehead non-US investors. For 95% of us the "whole haystack" means a globally weighted portfolio in both equities and bonds. Very few of us believe it wise to hold an all USA port. HOWEVER if we were USA persons we would hold a 100% USA port. It all about the fees and taxes. For n...
by galeno
Fri May 28, 2021 11:30 am
Forum: Investing - Theory, News & General
Topic: Firecalc limitations
Replies: 19
Views: 3475

Re: Firecalc limitations

You shouldn't do eye surgery with a butterknife.

Firecalc says "this is the worst that happened during this period." It cannot predict the future.
by galeno
Fri May 28, 2021 9:22 am
Forum: Non-US Investing
Topic: capital gains tax
Replies: 6
Views: 1865

Re: capital gains tax

I see it and agree. I forget that US expats have a heck of a time on various levels.
by galeno
Thu May 27, 2021 1:25 pm
Forum: Non-US Investing
Topic: capital gains tax
Replies: 6
Views: 1865

Re: capital gains tax

How is this a non-US investing topic?
by galeno
Wed May 26, 2021 5:36 pm
Forum: Non-US Investing
Topic: Confusion over costs - ishares MSCI ACWI ETF (UK)
Replies: 8
Views: 2187

Re: Confusion over costs - ishares MSCI ACWI ETF

Maybe the TR (tax ratio) was added to the ER? I do it all the time to know the TER (total expense ratio) of our equity UCITS ETF.

E.g. VWRD ER = 0.22%.
L1 + L2 DWT = 12.38%.
12 mo yield = 1.29%.

TR = 1.29 x 0.1238 = 0.16%

TER = 0.22 + 0.16 = 0.38%.
by galeno
Mon May 24, 2021 10:23 am
Forum: Non-US Investing
Topic: Advice on a single etf global stocks [Uruguay]
Replies: 4
Views: 1759

Re: Advice on a single etf global stocks [Uruguay]

Newer Bogleheads tend to want to cover every possible FOMO circumstance by slicing, dicing, and tilting. Veteran Bogleheads know that KISS is bliss and to STC when things ger rough. Our port: 50% VWRD + 45% AGGG + 5% CASH. As retirees we prefer DISTRIBUTING Ireland domiciled UCITS ETFs on the LSE. A...
by galeno
Fri May 21, 2021 9:44 am
Forum: Non-US Investing
Topic: Colombia - Brokerage Firms (How to invest?)
Replies: 9
Views: 1944

Re: Colombia - Brokerage Firms (How to invest?)

Regarding L1/L2 taxation and US tax treaties our country, Costa Rica, is similar to Colombia. CR' L3 tax is zero. So far.

Today's bid/ask CRC/USD spread at our bank = 1.02%. What is it for COP/USD at your bank?
by galeno
Fri May 21, 2021 9:17 am
Forum: Non-US Investing
Topic: [Brazil] Taxes and fees for Non-US investors?
Replies: 15
Views: 2205

Re: [Brazil] Taxes and fees for Non-US investors?

I have learned over many years to do one thing. Always listen to TedSwippet.
by galeno
Fri May 21, 2021 9:12 am
Forum: Non-US Investing
Topic: [Brazil] Taxes and fees for Non-US investors?
Replies: 15
Views: 2205

Re: [Brazil] Taxes and fees for Non-US investors?

Agree 100%. OP wants ACCUMULATING UCITS ETFs. I was going to mention this. But I knew it would be brought up soon by one of the wise and experienced participants on this board. "I would advice a word of caution against considering the vanguard equity funds Galeno has recommended. As a BR reside...
by galeno
Fri May 21, 2021 8:47 am
Forum: Non-US Investing
Topic: [Colombia] Bonds downgraded to BB+
Replies: 5
Views: 1597

Re: [Colombia] Bonds downgraded to BB+

BAC International Bank. But I had to negotiate this rate. Non-negotiated rate is 3.75% for a 12 mo CD. Panama's currency IS the USD. Our quandry. FOMO. Greed glands activated. We can drive to David Panama in 6 hr. What do you think? Should we go with greed, fear, or split the difference? Right now w...
by galeno
Thu May 20, 2021 6:06 pm
Forum: Non-US Investing
Topic: [Brazil] Taxes and fees for Non-US investors?
Replies: 15
Views: 2205

Re: [Brazil] Taxes and fees for Non-US investors?

Read our wiki. It's quite good. IIRC Brazil does not have a tax treaty with the USA. I don't know Brazil's L3 taxation. In short. If you have over $100k your broker is IBKR. Use 2 UCITS ETFs. VWRD (world equities) and AGGG (unhedged world bonds). You can also use USD-hedged world bonds (AGGU or VAGU...
by galeno
Thu May 20, 2021 11:54 am
Forum: Non-US Investing
Topic: [Colombia] Bonds downgraded to BB+
Replies: 5
Views: 1597

Re: [Colombia] Bonds downgraded to BB+

Junk bonds should have junk bond yields.

An 8 yr Costa Rican govt bond (USD) with a current price of $103.39 expiring on 30 Oct 3021 yields 3.73%.

Last time I checked a 1 yr USD CD in Panama pays 4%.
by galeno
Thu May 20, 2021 11:37 am
Forum: Non-US Investing
Topic: [Colombia] Bonds downgraded to BB+
Replies: 5
Views: 1597

Re: [Colombia] Bonds downgraded to BB+

Junk bonds should have junk bond yields.
by galeno
Thu May 20, 2021 11:28 am
Forum: Non-US Investing
Topic: Colombia - Brokerage Firms (How to invest?)
Replies: 9
Views: 1944

Re: Colombia - Brokerage Firms (How to invest?)

1. If you have over $100k your broker is IBKR. Use 2 UCITS ETFs. VWRD (world equities) and AGGG (unhedged world bonds). You can also use USD-hedged world bonds (AGGU or VAGU). If you have less than $100k your broker is Charles Schwab International. Use VTI as your equity ETF. Fixed income is brokere...
by galeno
Wed May 19, 2021 8:51 pm
Forum: Non-US Investing
Topic: A suggestion on minimum number of stocks to hold if randomly selecting companies.
Replies: 52
Views: 6310

Re: A suggestion on minimum number of stocks to hold if randomly selecting companies.

@HootingSloth

The OP writes many "interesting" posts. I think he's a newbe who is having difficulties with the concept of "KISS & STC".

Regarding your other questions. Our retirement port: 50% VWRD + 45% AGGG + 5% USD CASH. Simplicity is bliss.
by galeno
Wed May 19, 2021 1:26 pm
Forum: Non-US Investing
Topic: [Estonia] Portfolio checkup & suggestions needed
Replies: 14
Views: 2004

Re: [Estonia] Portfolio checkup & suggestions needed

70% VWCE + 30% VAGF is PERFECT. Now find a hobby.
by galeno
Wed May 19, 2021 10:12 am
Forum: Non-US Investing
Topic: [Estonia] Portfolio checkup & suggestions needed
Replies: 14
Views: 2004

Re: [Estonia] Portfolio checkup & suggestions needed

Be aware that IWDA does NOT include EM which compose 10% of world aquities.

Sell it and use VWR_. Use the Euro-hedged ACCUMULATING version of VWRD.
by galeno
Wed May 19, 2021 9:56 am
Forum: Non-US Investing
Topic: [Estonia] Portfolio checkup & suggestions needed
Replies: 14
Views: 2004

Re: [Estonia] Portfolio checkup & suggestions needed

If there are little to no tax or penalty consequences then YES! Do it now.

"Would you recommend liquidating my current portfolio and purchasing the global equity and bond funds or doing something else?"
by galeno
Wed May 19, 2021 9:32 am
Forum: Non-US Investing
Topic: What happened to AGGH ? (Euro hedged global aggr)
Replies: 8
Views: 2150

Re: What happened to AGGH ? (Euro hedged global aggr)

Remember. AGGG, AGGU, AGGH, etc are the SAME UCITS ETF.

Currency Exposure 5 May 2012

U.S. Dollar 41.56%
Euro 23.79%
Japanese Yen 13.42%
Chinese Yuan 6.88
British Pound 5.06%
Canadian Dollar 2.88%
Australian Dollar 1.51%
South Korean Won 1.10%
Swiss Franc 0.54%
Swedish Krona 0.45%
by galeno
Wed May 19, 2021 9:03 am
Forum: Non-US Investing
Topic: [Estonia] Portfolio checkup & suggestions needed
Replies: 14
Views: 2004

Re: [Estonia] Portfolio checkup & suggestions needed

1. Taking into account the additional info I provided, does this portfolio look at least somewhat reasonable? No. It's an overlapping complicated mess. Why not keep it simple? Use 70% VWRD + 30% AGGG (USD distributing versions). Use ACCUMULATING versions in either USD or Euros. 2. Is there anything ...
by galeno
Tue May 18, 2021 7:14 pm
Forum: Non-US Investing
Topic: What is the effect of dividend withholding on a portfolio
Replies: 7
Views: 1393

Re: What is the effect of dividend withholding on a portfolio

A lot of US investors comment here. Almost all are clueless to the nonsense we non-US investors have to go through to invest like Bogleheads. In general. US investors should use USA domicled funds / ETFs. Non-US investors should avoid USA domiciled funds / ETFs. Best for non-US investors is UCITS ET...
by galeno
Tue May 18, 2021 8:08 am
Forum: Non-US Investing
Topic: How would you replicate the US Total Bond Market in South Korea?
Replies: 2
Views: 1124

Re: How would you replicate the US Total Bond Market in South Korea?

60% VWRD + 40% SUAG*

*SUAG is the UCITS equivalent of BND a/o AGG. But it costs 0.25%.

Better is 60% VWRD + 20% VDTY + 20% VDCP.

50% VDTY + 50% VDCP costs 0.08%. And NO MBS.
by galeno
Tue May 18, 2021 7:57 am
Forum: Non-US Investing
Topic: What is the effect of dividend withholding on a portfolio
Replies: 7
Views: 1393

Re: What is the effect of dividend withholding on a portfolio

Use A.

For B you need to ADD the HIDDEN L1/L2 dividend WH taxes for the non-USA equities. 9.5% for non-US developed and 11.2% for EM.
by galeno
Mon May 17, 2021 11:10 am
Forum: Non-US Investing
Topic: A viable replacement for US TIPS in a risk parity portfolio?(South Korea)
Replies: 7
Views: 999

Re: A viable replacement for US TIPS in a risk parity portfolio?(South Korea)

Equities.

"I really wonder how investors could hedge against inflation with these constraints."
by galeno
Mon May 17, 2021 8:50 am
Forum: Non-US Investing
Topic: A viable replacement for US TIPS in a risk parity portfolio?(South Korea)
Replies: 7
Views: 999

Re: A viable replacement for US TIPS in a risk parity portfolio?(South Korea)

You don't need TIPS. KISS. If you like the idea of an "all weather port". Do this instead. 25% VWRD (world equities) 25% AGGG (world bonds) 25% CASH 25% SGLN (gold) a/o ICOM (commodities). The OP is a repackaged Harry Browne portfolio. Just a lot more complicated. Old tires with fancy expe...
by galeno
Sat May 15, 2021 2:28 pm
Forum: Non-US Investing
Topic: A suggestion on minimum number of stocks to hold if randomly selecting companies.
Replies: 52
Views: 6310

Re: A suggestion on minimum number of stocks to hold if randomly selecting companies.

The COSTS are why we are Bogleheads. More so for non-US investors. How is this any different than any other discussion on active management? Costs aside, any approach you take is equally likely to outperform or underperform the market. Sure, the distribution of outcomes is different, but the average...
by galeno
Fri May 14, 2021 1:25 pm
Forum: Non-US Investing
Topic: Value stocks (3 factor portfolio)
Replies: 12
Views: 1778

Re: Value stocks (3 factor portfolio)

My signature below is all you need to do.
by galeno
Thu May 13, 2021 1:45 pm
Forum: Non-US Investing
Topic: A suggestion on minimum number of stocks to hold if randomly selecting companies.
Replies: 52
Views: 6310

Re: A suggestion on minimum number of stocks to hold if randomlly selecting companies.

I'd like to see the OP's attitude if and when he goes thru a multi year bear market like the 2000-2002 bear. The other 3 bears (1987, 2008, and 2020) were yawns for us. Before we became Bogleheads in 2006 we invested like the OP wants to do. For 11 years. At the time we were using 12-16 stocks picke...
by galeno
Sun May 09, 2021 8:51 am
Forum: Non-US Investing
Topic: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stocks?
Replies: 10
Views: 1160

Re: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stock

Nice to see you. After that 2000-2002 crash I got religion and became Boglehead. Yes. Born and raised here. If you can comfortly pay your bills CR is hard to beat. Perfect? No. But when I see a triple rainbow in the sky. Or watch the lava drip off of Arenal volano. I say to myself YEAH. "Thank ...
by galeno
Sun May 09, 2021 8:30 am
Forum: Non-US Investing
Topic: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stocks?
Replies: 10
Views: 1160

Re: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stock

Yes. I probably should add "Simplicity is Bliss" to my signiture. But that would complicate it.

Top of the AM to you.

"Galeno, I know what "KISS" is. What is "STC"? Stay the course?"
by galeno
Sat May 08, 2021 7:08 pm
Forum: Non-US Investing
Topic: Portfolio - Inflation Hedge Needed? and Expat Banking Solution
Replies: 13
Views: 1645

Re: Portfolio - Inflation Hedge Needed? and Expat Banking Solution

We've been thru 4 equity bear markets. 1987. New young investors. Port 100% equities. Equities revovered before Jan. No rebalancing needed. 2000-2003. Port 80/20. Not yet Bogleheads. Used a concentrated equity port of 12-16 stocks. Rebalanced back to 80/20 during 3 years. Made us SICK. Felt like we ...
by galeno
Sat May 08, 2021 12:35 pm
Forum: Non-US Investing
Topic: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stocks?
Replies: 10
Views: 1160

Re: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stock

Well said. ^ and something to keep in mind about market cap "deciles" is it takes very few stocks to make up the larger deciles. The top decile of the U.S. stock market right now would be composed of 2 stocks. There have been times in history when it would be only 1 stock. Most of the time...
by galeno
Sat May 08, 2021 12:31 pm
Forum: Non-US Investing
Topic: I can't choose between world FTSE and MSCI
Replies: 17
Views: 1977

Re: I can't choose between world FTSE and MSCI

KISS & STC. Use one fund.

It's easier and cheaper. The 2 fund combo LOOKS cheaper. But as soon as you rebalance them (and you will) the savings go "poof".
by galeno
Sat May 08, 2021 12:29 pm
Forum: Non-US Investing
Topic: US Municipal Bonds [Invesco US Municipal Bond UCITS ETF Dis]
Replies: 23
Views: 2249

Re: US Municipal Bonds [Invesco US Municipal Bond UCITS ETF Dis]

No prob.

I use morningstar.co.uk and the funds' main sites when I want to check out a fund.

Since I only use Vanguard and Ishares UCITS ETFs it's easy.

Better ballast. That's why I went with the unhedged vs the USD hedged. Which has lower volatility.
by galeno
Sat May 08, 2021 8:52 am
Forum: Non-US Investing
Topic: Anybody switching from VWCE to V3AA? [Vanguard ESG Global All Cap UCITS]
Replies: 2
Views: 902

Re: Anybody switching from VWCE to V3AA? [Vanguard ESG Global All Cap UCITS]

Not us.

ESG is generational nonsense. We want to make money. Not feel good. There are far better ways for us to "feel good".