Search found 2022 matches

by asset_chaos
Wed Jul 28, 2021 6:56 pm
Forum: Investing - Theory, News & General
Topic: How many people do publicly traded companies employ?
Replies: 6
Views: 707

Re: How many people do publicly traded companies employ?

If google to "how many people work at US large companies" and first thing that appears says, "Using census data, the WSJ calculated that 36.2 percent of people worked at either a large (2,500 to 9,999 people) or very large (10,000 or more people) company, versus 38.9 percent who worke...
by asset_chaos
Wed Jul 28, 2021 6:30 pm
Forum: Investing - Theory, News & General
Topic: Is there value in this basic calculation?
Replies: 21
Views: 1287

Re: Is there value in this basic calculation?

Even if you decide to keep the 27 stocks, make sure their dividends go to your settlement fund (don't reinvest in the individual stocks) and reinvest the money in your index funds. If you're trying to estimate volitility of the individual stock portfolio compared to the volatility of, say, total sto...
by asset_chaos
Sun Jul 25, 2021 2:55 am
Forum: Non-US Investing
Topic: Aus , got 60k to invest. Which index funds should i look into ?
Replies: 8
Views: 883

Re: Aus , got 60k to invest. Which index funds should i look into ?

Welcome to the forum. I don't recall ticker symbols offhand, but you can find them here . From four etfs you can build a global balanced portfolio with whatever ratio of stock to bonds and whatever ratio of World ex-Au versus AU stocks and bonds that you want. International shares ex-AU index fund h...
by asset_chaos
Fri Jul 23, 2021 10:16 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

One way is to look at your 1099 tax form, on the top right. When I was last on the Pershing platform, (over 10 years ago): Payer Information: PERSHING, LLC Federal Identification Number: 13-2741729 From my 2020 1099: PAYER: Vanguard Marketing Corporation PAYER'S Federal Identification Number: 23-20...
by asset_chaos
Fri Jul 23, 2021 9:55 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

I have an email today Dear Vanguard Client, We'd like to inform you that Vanguard is retiring its legacy brokerage platform by the end of 2021. I'm still wondering if they mean the legacy mutual fund platform. I believe they did a better job in their July email than in the June email of making it c...
by asset_chaos
Tue Jul 20, 2021 10:58 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

Maybe July 11 was a "soft" cut-off because I got the email below today with a new, ambiguous date, "as soon as August". Once again I plan to do nothing except save a copy of my account page on 31 July. One or more of your accounts is changing Dear Vanguard Client, After consideri...
by asset_chaos
Fri Jul 16, 2021 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: What are ETFs?
Replies: 19
Views: 1309

Re: What are ETFs?

So when I send my money to Vanguard to buy VTI (Vanguard Total stock market ETF) what do the portfolio manager do with my money? You don't send your money to Vanguard to buy shares in VTI; you send your money to and receive your fund shares from someone else. Let's start at the beginning. For the m...
by asset_chaos
Thu Jul 15, 2021 6:04 am
Forum: Non-US Investing
Topic: Vanguard AUS personal investor fee changes
Replies: 10
Views: 1579

Vanguard AUS personal investor fee changes

Vanguard AU is changing the fees for its personal investor accounts. The 0.2% account fee goes away, but the free trades for Vanguard ETFs becomes A$9 per trade. Changes happen 18 August. The emailed table says, Investment Type New Account Fee Current Account Fee Vanguard Cash Account Nil 0.20% per ...
by asset_chaos
Wed Jul 14, 2021 4:16 pm
Forum: Non-US Investing
Topic: Sanity check my DIY ETF build (Australia)
Replies: 6
Views: 1087

Re: Sanity check my DIY ETF build (Australia)

Have been wanting to get started investing for a couple years now. Tried a few times and just ended up getting completely overwhelmed with the information and choices that are available to us. Good on ya for getting going. Implementing a pretty good financial plan is much better than dithering in h...
by asset_chaos
Wed Jul 14, 2021 3:55 am
Forum: Personal Finance (Not Investing)
Topic: Dead-End Robocalls
Replies: 45
Views: 3313

Re: Dead-End Robocalls

I get more robocalls on my cell these days than direct to the landline. What I've found is that if I answer and make any sound, e.g. hello, a robot voice gives me the first level of the scam, e.g. we've detected suspicious activity at your IP address and will shut down your internet today, press 1 t...
by asset_chaos
Tue Jul 13, 2021 6:46 pm
Forum: Investing - Theory, News & General
Topic: Vanguard buys Just Invest.....
Replies: 75
Views: 8551

Re: Vanguard buys justinvest.....

Unless there are numbers that say differently, it's not obvious at all to me that an individual doing direct indexing can do tax management better than a Vanguard index fund can. The fund creates new tax lots (nearly?) all the time; individuals nowhere near as often. And an index fund with an etf sh...
by asset_chaos
Mon Jul 12, 2021 7:01 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

As the July 11 deadline passed with me taking no action, I logged on after close of markets 12 July to see if anything had happened. I'm unable to discern any difference in my accounts---brokerage or otherwise---or the way they're grouped, titled, or displayed on the webpage. Maybe they're allowing ...
by asset_chaos
Sun Jul 11, 2021 11:39 pm
Forum: Non-US Investing
Topic: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]
Replies: 17
Views: 2900

Re: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]

Great work, thank for updating. That looks more like I expected where a small number of funds outperform. As a matter of interest, what were the 4-5 funds that outperformed? We have been members of UniSuper since inception in 2000 which has consistently outperformed either due to skill or luck, so ...
by asset_chaos
Sun Jul 11, 2021 10:26 pm
Forum: Non-US Investing
Topic: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]
Replies: 17
Views: 2900

Re: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]

The other problem comparing funds is that the "balanced fund" can be anywhere from 85/15 growth to defensive down to 50/50. No wonder there is such a range of performances with the stock heavy balanced funds having outperformed most over the last 5 years. The standard balance funds includ...
by asset_chaos
Sun Jul 11, 2021 12:35 am
Forum: Non-US Investing
Topic: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]
Replies: 17
Views: 2900

Re: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians

VanguardAU replied about 6 year data, but all they did was point me to the same tables of monthly returns that AlohaJoe did. Between that and the Vanguard tax drag data that Hockey Monkey pointed out, we can make a solid comparison of an indexed global balanced portfolio with the APRA default fund d...
by asset_chaos
Thu Jul 08, 2021 8:30 pm
Forum: Non-US Investing
Topic: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]
Replies: 17
Views: 2900

Re: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians

I'm not sure that's the right after tax information for investments held within super funds. I think that's the after tax information for funds in a taxable account. The ATO says for self-managed super funds, which I think is the same for all super funds, that tax is 15% of investment income. The p...
by asset_chaos
Thu Jul 08, 2021 2:49 am
Forum: Investing - Theory, News & General
Topic: Blackrock Mid-year Report - US downgraded, Europe upgraded
Replies: 17
Views: 2308

Re: Blackrock Mid-year Report - US downgraded, Europe upgraded

Total world. Whatever stocks do well, I'll have them. And, I won't have to wonder about predictions and am I "making the right move".
by asset_chaos
Wed Jul 07, 2021 11:43 pm
Forum: Non-US Investing
Topic: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]
Replies: 17
Views: 2900

Re: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians

Great work putting this together. You can get after tax data from the Vanguard site Eg Vanguard International Shares Index Fund @ 12.88% is before tax. After tax on distributions it is 12.45% https://www.vanguard.com.au/institutional/products/en/detail/wholesale/8116/equity Updated figures 60% Vang...
by asset_chaos
Wed Jul 07, 2021 11:26 pm
Forum: Non-US Investing
Topic: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]
Replies: 17
Views: 2900

Re: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians

60% Vanguard International Shares Index Fund, 5 year return 12.88% 10% Vanguard Australian Shares Index Fund, 5 year return 10.11% 20% Vanguard International Fixed Interest Index Fund (Hedged), 5 year return 2.52% 10% Vanguard Australian Fixed Interest Index Fund, 5 year return 3.10% 5 year returns...
by asset_chaos
Tue Jul 06, 2021 2:08 am
Forum: Non-US Investing
Topic: Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]
Replies: 17
Views: 2900

Australian retirement funds: general reinforcement for Bogleheads and specific thoughts for Australians [updated]

See below for the better comparison using tax drag and index return data over the same period as the APRA data I read today that the Australian tax office had put up a superannuation (retirement) fund comparison tool , using data collected by APRA . Apparently it's a new government initiative. It i...
by asset_chaos
Wed Jun 23, 2021 11:46 pm
Forum: Investing - Theory, News & General
Topic: M* interview with Jack Brennan
Replies: 4
Views: 771

Re: M* interview with Jack Brennan

Brennen's not in charge anymore.
by asset_chaos
Wed Jun 23, 2021 11:33 pm
Forum: Non-US Investing
Topic: (Australia) Guidance on Superannuation Fund
Replies: 4
Views: 1183

Re: (Australia) Guidance on Superannuation Fund

Our wiki has a section on Australian super funds . You can move your super to one of several other funds and easily reduce that prospective 94 bp cost by a factor of 3 to 7 by choosing a fund's index options for World ex-AU and AU stocks and bonds. Compounding just the reduced costs for 18 years wou...
by asset_chaos
Tue Jun 22, 2021 12:58 am
Forum: Personal Investments
Topic: Having trouble approximating stock market with my 401k funds
Replies: 16
Views: 918

Re: Having trouble approximating stock market with my 401k funds

Wait, I may have misinterpreted the Blackrock fund. It just says BLACKROCK MSCI ACWI EX; ex without saying what the ex is. I missed that. In that case the blackrock fund and the 500 fund in whatever ratio you want.
by asset_chaos
Tue Jun 22, 2021 12:54 am
Forum: Personal Investments
Topic: Having trouble approximating stock market with my 401k funds
Replies: 16
Views: 918

Re: Having trouble approximating stock market with my 401k funds

If I understand correctly, you're trying to approximate both the US total stock market and ex-US total stock market. The simplest thing seems to be to mix the Blackrock all country world index fund and the Vanguard 500 fund. Blackrock ACWI holds both the US total stock market and ex-US total stock m...
by asset_chaos
Sun Jun 20, 2021 4:37 pm
Forum: Non-US Investing
Topic: What method does Vang LS funds use ?
Replies: 6
Views: 1246

Re: What method does Vang LS funds use ?

Hello all, The Vanguard lifestrategy funds are a simple choice since they also do the rebalance for you. It mentions : “ The portfolio asset allocation may be reconstituted and rebalanced from time to time at the discretion of the investment manager.” Has anyone come across what kind of method they...
by asset_chaos
Thu Jun 17, 2021 8:07 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

The rep has sent further clarification below, confirming that, despite the contradictory language, this is part of the general platform "upgrade" to brokerage only. Apparently at least one of my brokerage accounts is already on the new platform. When I look at my accounts, the upgrade butt...
by asset_chaos
Wed Jun 16, 2021 6:41 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

I got a response from Vanguard (part quoted below), but it's unsatisfactory. I think they answered the wrong question; I think they thought the question was about consolidating mutual fund only accounts into the new brokerage accounts, as the response below says, instead of, as the email they sent m...
by asset_chaos
Sat Jun 12, 2021 9:46 pm
Forum: Personal Investments
Topic: Managed bond accounts
Replies: 8
Views: 897

Re: Managed bond accounts

If tax loss harvesting is the main benefit and selling point, I don't see how the numbers work out. Maybe my grasp of the tax code is tenuous, and someone more knowledgeable will correct me. But what I see is 0.45% of 1.2 million = $5400 management cost a year, every year. My understanding is that o...
by asset_chaos
Sat Jun 12, 2021 4:06 pm
Forum: Personal Investments
Topic: Managed bond accounts
Replies: 8
Views: 897

Re: Managed bond accounts

There was a thread on this or a similar Schwab offering last January. Every basis point you pay for bond management is a basis point you give up in yield. And since bonds are simple in that riskier bonds have higher yields, the only way a managed bond fund makes back its fees is by increasing risk. ...
by asset_chaos
Fri Jun 11, 2021 9:33 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

I have an email today Dear Vanguard Client, We'd like to inform you that Vanguard is retiring its legacy brokerage platform by the end of 2021. What happens if I don't transition my account? If you don't take action to transition by July 11, 2021: Vanguard Brokerage Services® will transition your b...
by asset_chaos
Fri Jun 11, 2021 9:26 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

Re: date set for Vanguard retiring its legacy brokerage platform

The email from Vanguard urging transition says, "Action required: Transition your accounts today", and "Thank you for your immediate attention to this important matter." So I logged on to my account to see what they had set up. I may be getting dumber as I age, but for the life o...
by asset_chaos
Fri Jun 11, 2021 8:35 pm
Forum: Investing - Theory, News & General
Topic: date set for Vanguard retiring its legacy brokerage platform
Replies: 42
Views: 8196

date set for Vanguard retiring its legacy brokerage platform

I have an email today Dear Vanguard Client, We'd like to inform you that Vanguard is retiring its legacy brokerage platform by the end of 2021. When you transition your account into a Vanguard Brokerage Account, your current investments will move into this new account platform. There are no fees or ...
by asset_chaos
Fri Jun 11, 2021 7:20 pm
Forum: Investing - Theory, News & General
Topic: "Vanguard Money Market Funds: What You Need To Know"
Replies: 20
Views: 3354

Re: "Vanguard Money Market Funds: What You Need To Know"

I think this makes it more conservative and tamer than it was when it was the "Prime Money Market Account." Indeed, in fact so much more conservative I have a hard time differentiating what-used-to-be-prime from the federal money market fund. Not that the two funds have identical holdings...
by asset_chaos
Fri Jun 11, 2021 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning, Trust, and Fiduciary Advisor
Replies: 22
Views: 2858

Re: Estate Planning, Trust, and Fiduciary Advisor

Perhaps consider a co-trustee arrangement, one trustee the trusted person, one trustee a professional trust department. Our plan has the equivalent of your trusted person make decisions about disbursements to the beneficiaries, while the professional is tasked to handle tax and investing issues. Fro...
by asset_chaos
Sat Jun 05, 2021 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: VanguardAdvantage: All-In-One Checking Account Return?
Replies: 71
Views: 6570

Re: VanguardAdvantage: All-In-One Checking Account Return?

I hope nobody is holding their breath waiting for a response from Vanguard when they correspond with management. I also wrote to Tim Buckley a few years ago after my disappointment with a number of service failures, the reduction in flagship benefits, the end of Vanguard Advantage and the persisten...
by asset_chaos
Fri Jun 04, 2021 9:55 pm
Forum: Non-US Investing
Topic: Rest Super now has low cost indexed investment options [AUSTRALIA]
Replies: 1
Views: 743

Re: Rest Super now has low cost indexed investment options [AUSTRALIA]

Has REST raised the admin fees lately? Someone mentioned REST in another thread, and around April I added the REST balanced fund to the spreadsheet linked in our wiki page for super funds with indexed options. But the admin fees when I checked were $67/year and 10 basis points. Now REST says $78 and...
by asset_chaos
Fri Jun 04, 2021 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: VanguardAdvantage: All-In-One Checking Account Return?
Replies: 71
Views: 6570

Re: VanguardAdvantage: All-In-One Checking Account Return?

I used Advantage for years. By closing it Vanguard caused me considerable dislocation. The stated point of closure was that hardly any clients used it, but it was the first time in the 30 odd years I'd been a client, that Vanguard chose to make my investing experience worse. What a middle finger to ...
by asset_chaos
Wed Jun 02, 2021 11:53 pm
Forum: Non-US Investing
Topic: [Australia] Increasing bond exposure - change superannuation fund or change other investments
Replies: 11
Views: 1344

Re: [Australia] Increasing bond exposure - change superannuation fund or change other investments

Selling appreciated stocks outside super will have the gains taxed at the full capital gains tax level. I believe, but am not sure, your long term capital gains rate is your marginal tax rate after reducing the capital gain by 50%. When I google "australia capital gains tax inside super", ...
by asset_chaos
Sun May 30, 2021 6:29 am
Forum: Investing - Theory, News & General
Topic: Vanguard broadens private equity offering to retail customers
Replies: 64
Views: 10109

Re: Vanguard broadens private equity offering to retail customers

Another interesting point from Vanguard's paper referenced above is the implied split between PE limited partners and general partners (investors and managers respectively) of the posited premium (illiquidity plus manager's alpha) to the stock market index. Taking Vanguard's numbers at face value, t...
by asset_chaos
Sat May 29, 2021 9:08 pm
Forum: Investing - Theory, News & General
Topic: Vanguard broadens private equity offering to retail customers
Replies: 64
Views: 10109

Re: Vanguard broadens private equity offering to retail customers

Vanguard's white paper , "The case for private equity at Vanguard", has more details. One of their main points is in the title "at Vanguard". They claim that they will be particularly good at choosing, monitoring, and negotiating fees with the best PE managers because they've sp...
by asset_chaos
Sat May 29, 2021 3:11 am
Forum: Investing - Theory, News & General
Topic: Vanguard broadens private equity offering to retail customers
Replies: 64
Views: 10109

Re: Vanguard broadens private equity offering to retail customers

Vanguard's white paper , "The case for private equity at Vanguard", has more details. One of their main points is in the title "at Vanguard". They claim that they will be particularly good at choosing, monitoring, and negotiating fees with the best PE managers because they've spe...
by asset_chaos
Tue May 25, 2021 8:59 pm
Forum: Investing - Theory, News & General
Topic: Inverse performance chasing?
Replies: 69
Views: 3682

Re: Inverse performance chasing?

Perhaps the simplest way to understand the seeming paradox is by a counting argument. There are relatively many more ways to engage in market operations that underperform the market and relatively fewer ways to outperform. This leads to the distribution of potential outcomes to be skewed, and the hi...
by asset_chaos
Sat May 22, 2021 5:47 pm
Forum: Investing - Theory, News & General
Topic: How much of a home-country bias?
Replies: 11
Views: 1454

Re: How much of a home-country bias?

Does Vanguard advocate home bias or does it acquiesce to that revealed investor preference in setting the home country levels of stock in its various lifestratgy funds around the world? I suspect the latter. Mainly, how Vanguard puts together a balanced fund that it can market to Canadians or Austra...
by asset_chaos
Fri May 21, 2021 10:10 pm
Forum: Non-US Investing
Topic: Sunsuper Advice (Australian Superannuation)
Replies: 7
Views: 2097

Re: Sunsuper Advice (Australian Superannuation)

No worries. I'm with FirstState (or whatever they call themselves nowadays) and there little to no management is needed with the equivilent four funds. There's a page where you set up how future contributions are split. Say you've set 40% gobal stocks, 10% Au stocks, 40% global bonds, 10% Au bonds, ...
by asset_chaos
Wed May 19, 2021 7:21 pm
Forum: Non-US Investing
Topic: [Australia] Should I manage my mother's financial affairs and sack her financial advisor
Replies: 21
Views: 3603

Re: [Australia] Should I manage my mother's financial affairs and sack her financial advisor

If mom is happy and advisor is competent, I suggest to leave things well enough alone. The conversation you and the siblings may want to initiate with mom is about estate planning. And part of that should be around---I'm not sure exactly what it's called---a health care power of attorney. Part of th...
by asset_chaos
Sun May 16, 2021 10:16 pm
Forum: Investing - Theory, News & General
Topic: Are Vanguard's 10-year forecasts flawed in any way?
Replies: 75
Views: 6996

Re: Are Vanguard's 10-year forecasts flawed in any way?

The more I stare at those ±1% ranges for stocks, ±0.5% for bonds, the more steamed up I get. I don't see why. It's just a forecast. The problem is not the reporting of the median of the distribution as the forecast, the problem is the arbitrary and artificial ranges they imposed around the median. ...
by asset_chaos
Sun May 16, 2021 7:43 pm
Forum: Non-US Investing
Topic: Sunsuper Advice (Australian Superannuation)
Replies: 7
Views: 2097

Re: Sunsuper Advice (Australian Superannuation)

Our wiki has pages on Australian super with indexed options . As you've seen Sunsuper's default options are costly, but Sunsuper has good, low-cost index funds---and not just for ex-Au stocks. Last I looked, their index funds covered S&P/ASX 300 Accumulation Index MSCI World Index ex-Australia (...
by asset_chaos
Sun May 16, 2021 7:09 pm
Forum: Investing - Theory, News & General
Topic: Are Vanguard's 10-year forecasts flawed in any way?
Replies: 75
Views: 6996

Re: Are Vanguard's 10-year forecasts flawed in any way?

While Vanguard's monte carlo simulations are likely as reasonable as anyone else's, the way they've presented the return predictions is poor because they convey a false sense of precision. A typical person would look at those tight ranges and perhaps conclude that Vanguard is guarenteeing that ex-U...
by asset_chaos
Sun May 16, 2021 6:50 pm
Forum: Investing - Theory, News & General
Topic: Does VT/VTI sufficiently cover possible upcoming market transformations?
Replies: 12
Views: 1760

Re: Does VT/VTI sufficiently cover possible upcoming market transformations?

To the extent that any of those things or any of the many possibilities you haven't mentioned are done successfully and profitably by publically listed companies, those companies will sooner or later be included in total market stock index funds or already are there. VTI is not sufficient by itself ...
by asset_chaos
Sun May 16, 2021 4:50 am
Forum: Investing - Theory, News & General
Topic: Are Vanguard's 10-year forecasts flawed in any way?
Replies: 75
Views: 6996

Re: Are Vanguard's 10-year forecasts flawed in any way?

While Vanguard's monte carlo simulations are likely as reasonable as anyone else's, the way they've presented the return predictions is poor because they convey a false sense of precision. A typical person would look at those tight ranges and perhaps conclude that Vanguard is guarenteeing that ex-US...