[favorite] Boglehead quotes
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Re: [favorite] Boglehead quotes
YMMV or
YMMV
YMMV
Rev012718; 4 Incm stream buckets: SS+pension; dfr'd GLWB VA & FI anntys, by time & $$ laddered; Discretionary; Rentals. LTCi. Own, not asset. Tax TBT%. Early SS. FundRatio (FR) >1.1 67/70yo
Re: [favorite] Boglehead quotes
Actually, that was me, and I posted it on a dial-up Bulletin Board System (BBS) in Seattle in 1990. I made a printout on my dot matrix printer.BogleBoogie wrote:I actually know the guy that created that quote/joke who first posted it on this site in '97.CABob wrote:I can't recall where I first heard it, but one that always makes me chuckle is:"Don't believe everything you read on the internet." Abraham Lincoln
Last edited by Boglenaut on Wed Sep 30, 2015 11:14 pm, edited 1 time in total.
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Re: [favorite] Boglehead quotes
itstoomuch wrote:YMMV or
YMMV
Invest when you have the money, sell when you need the money, for real life expenses...
Re: [favorite] Boglehead quotes
From Re: "Buying" an IRA pet peeve?, explaining how there are different types of accounts (such as IRAs) which can hold different investments (such as mutual funds and CDs):
EmergDoc wrote:I use the luggage/clothing analogy to explain various accounts. You can put any type of clothing into any type of luggage, but some types of luggage are better for different trips.
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Re: [favorite] Boglehead quotes
Here's another gem written lately in a post by forum member and author Rick Ferri:
"[W]hen strategies are touted as producing a free lunch it's what you don't see that gets you." -- Rick Ferri
Reference: viewtopic.php?f=10&t=189264
"[W]hen strategies are touted as producing a free lunch it's what you don't see that gets you." -- Rick Ferri
Reference: viewtopic.php?f=10&t=189264
Variable Percentage Withdrawal (bogleheads.org/wiki/VPW) | One-Fund Portfolio (bogleheads.org/forum/viewtopic.php?t=287967)
Re: [favorite] Boglehead quotes
I must have read this someplace here during the last few years.
“THE BEATINGS WILL CONTINUE UNTIL MORALE IMPROVES.”
“THE BEATINGS WILL CONTINUE UNTIL MORALE IMPROVES.”
Part-Owner of Texas |
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“The CMH-the Cost Matters Hypothesis -is all that is needed to explain why indexing must and will work… Yes, it is that simple.” John C. Bogle
Re: [favorite] Boglehead quotes
Here's one recent quote: Subject: Improving Employee Morale
Update: Revised post as suggested by longinvest below.Spirit Rider wrote:This is pretty darn presumptuous. Blame the employee for poor morale. Might as well say "the beatings will continue until morale improves". I surely hope you are not in management. You have absolutely no idea of the quality of the employees. Neither do I, but I do not assume they are the problem.furnace wrote:Morale is low partly because you're hiring the wrong people. Try to hire people who like the work and appreciate the job. You probably have too many employees who spend more time complaining than doing actual work.
Morale is seldom a result of the quality of employees. It is much more likely the type of work, workload, work environment, management, compensation, etc...
Corrected attribution.
Re: [favorite] Boglehead quotes
Taylor Larimore wrote: Your Plan reflects a reasoned guess but it is almost certain to be wrong. There is no sense worrying about small deviations from a "guess" that was not correct in the first place.
Part-Owner of Texas |
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“The CMH-the Cost Matters Hypothesis -is all that is needed to explain why indexing must and will work… Yes, it is that simple.” John C. Bogle
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Re: [favorite] Boglehead quotes
Mickeyd,
It would be nice if you provided the source posts of your quotes.
LadyGeek,
It would be nice if you provided the actual quote you'd like to highlight in the linked post, along with the forum name of its author.
Thanks in advance to both of you.
It would be nice if you provided the source posts of your quotes.
LadyGeek,
It would be nice if you provided the actual quote you'd like to highlight in the linked post, along with the forum name of its author.
Thanks in advance to both of you.
Variable Percentage Withdrawal (bogleheads.org/wiki/VPW) | One-Fund Portfolio (bogleheads.org/forum/viewtopic.php?t=287967)
Re: [favorite] Boglehead quotes
"Nothing is enough for the man to whom enough is too little."
Lev
Lev
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Re: [favorite] Boglehead quotes
Concerning financial porn...
"No one knows nothing..."
"No one knows nothing..."
Re: [favorite] Boglehead quotes
"I honestly believe it is better to know nothing than to know what ain't so." - Josh Billings (aka Henry Wheeler Shaw)snarlyjack wrote:Concerning financial porn...
"No one knows nothing..."
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman
Re: [favorite] Boglehead quotes
I just started reading "The Wright Brothers" by David McCullough. Their father, a clergyman, Bishop Milton Wright, said something that sounded very Bogleheadish to me: "All the money anyone needs is just enough to prevent one from being a burden on others."
Friar1610 |
50-ish/50-ish - a satisficer, not a maximizer
Re: [favorite] Boglehead quotes
From 30-year STRIPS vs. T-Bonds:
Phineas J. Whoopee wrote:In case the profitability for major finance corporations from disaggregating Treasuries into STRIPS is unclear, it's just like your local grocery store. People are willing to pay more to buy just the parts of the chicken they want than to buy whole chickens.
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Re: [favorite] Boglehead quotes
From TIPS - Did you give up?:
PJWdbr wrote:...
The general idea is to not let the mechanics of cash flow management cause distortions or odd choices in how one invests.
...
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Re: [favorite] Boglehead quotes
From 24 year old new dividend portfolio:
PJWdbr wrote:It is easy to do bad math and hard to find a free lunch.
Re: [favorite] Boglehead quotes
Barefootgirl has quoted a variant of this – I like this one:
From Please help me with the optimal asset allocationpkcrafter wrote: The best approach is to act like a baseball team manager playing against a team you don't know. You spread the defense across the field, not making any big shifts to right or left field, because this strategy will help the players catch the most balls against players they don't know. And most important, when you've decided on a strategy, stay with it, even when it looks like everyone is hitting to right field.
Re: [favorite] Boglehead quotes
For the folks out there trying to save for the future I wanted to quote a great American about life, Warren Miller, Ski film maker and outdoor enthusiast.
"You don't have to have lot of money to live a great life." Warren Miller.
https://en.wikipedia.org/wiki/Warren_Miller_(director)
"You don't have to have lot of money to live a great life." Warren Miller.
https://en.wikipedia.org/wiki/Warren_Miller_(director)
Re: [favorite] Boglehead quotes
Quoted in What we should know before buying Long-term Treasury, LT Corporate Bonds, High-yield Corporate Bonds fund index and, but frequently used in similar form by nisiprius:
"The beer is the same, but mutual fund is the beer in a bottle and ETF is the beer in a can."
"The beer is the same, but mutual fund is the beer in a bottle and ETF is the beer in a can."
Re: [favorite] Boglehead quotes
The source was this forum and Taylor was the poster. I captured the quote because it made so much sense, as do most of Taylor's quotes do.longinvest wrote:Mickeyd,
It would be nice if you provided the source posts of your quotes.
LadyGeek,
It would be nice if you provided the actual quote you'd like to highlight in the linked post, along with the forum name of its author.
Thanks in advance to both of you.
Part-Owner of Texas |
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“The CMH-the Cost Matters Hypothesis -is all that is needed to explain why indexing must and will work… Yes, it is that simple.” John C. Bogle
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Re: [favorite] Boglehead quotes
Help with Bonds
PJWdbr wrote: ...
The word "safe" has been used and misused in so many ways as to become practically meaningless in these discussions.
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Re: [favorite] Boglehead quotes
+1 This is great stuff. I have had a rule for about 9 years that I never shift more than 10% of my portfolio at once. Thus, if I suddenly realize that one of my funds is not what I thought it was, or that I had misunderstood an asset class somewhat, and need to move it, or that my US/Int'l equity split is suboptimal, I do so a bit at a time. Then, if I happen to realize later that I made a mistake in my assumptions or got a bad steer for whatever reason, little damage is done.lowerleisureclass wrote:In all the reading I have done over the past few years to educate myself in my ongoing efforts to simplify my portfolio after firing my adviser, the following is hands down the most helpful thing I've read.
nisiprius wrote:
My answer to all such questions is: do it slowly and gradually. If you never make a start, you just remain confronted with the same problem and the same anxiety forever.
The problem is: it's an important decision, and it's human to keep changing your mind.
The answer is: decide what your best thinking is now, and do a little of it. Plan to get to your target allocation, not immediately, but over a period of several years.
* It discharges the anxiety you feel about doing nothing.
* It minimizes the anxiety you feel from making a big commitment, by turning it into a small commitment.
* It minimizes the impact of any decisions you are making due to recency, or faddishness, or panic.
* It forces you to slow down and not do things in a hurry.
It's a long-term decision. You should never feel that there is a rush to do long-term investing.
If you are making the right decision, six months from now it will still look like the right decision. Well, if you make the same decision with 10% of your money every six months, in five years you'll be 100% invested according to plan. But it gives you plenty of time to think about it, to read new headlines.
We talk about dollar cost averaging. It's also important to average out our impulses, our emotions, our mood swings.
"An investment in knowledge pays the best interest" - Benjamin Franklin
Re: [favorite] Boglehead quotes
From Allan Roth, at today's Bogleheads annual meeting:
"I charge people $450 an hour to tell them that I don't know the future."
"I charge people $450 an hour to tell them that I don't know the future."
Re: [favorite] Boglehead quotes
I'll quote myself {blushing profusely}:
Yesterday, Gus Sauter gave an excellent presentation on active funds. Among other things he said that active managers always claim that "This year is a stock pickers' year." During the Q&A, I commented that with active funds, "Every year is a pickpocket year."
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
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Re: [favorite] Boglehead quotes
"The beer is the same, but mutual fund is the beer in a bottle and ETF is the beer in a can."
"Beer tastes better from a bottle than from a can" - me
"Beer tastes better from a bottle than from a can" - me
Re: [favorite] Boglehead quotes
Two quotes from former BH Larry Swedroe that I really like.
1. "Don't confuse strategy with outcome"
2."never treat the highly likely as certain, nor the highly unlikely as impossible".
1210
1. "Don't confuse strategy with outcome"
2."never treat the highly likely as certain, nor the highly unlikely as impossible".
1210
Re: [favorite] Boglehead quotes
"Feed your investments when you're younger, and when you're older, they will feed you"
I'm not sure if I've heard that before, or if I just thought of it?
I'm not sure if I've heard that before, or if I just thought of it?
I don't know what the future holds, but I know who holds my future.
Re: [favorite] Boglehead quotes
Oh, I donno. I desire LOTS of things. But I resist the impulse to BUY them.There are two ways to get rich – make more or desire less. ...
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Re: [favorite] Boglehead quotes
A440:
Thank you for this important quote I have not heard before.
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: [favorite] Boglehead quotes
"We ignore the real diamonds of simplicity, seeking instead the illusory rhinestones of complexity."
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Re: [favorite] Boglehead quotes
From, "Asset Allocation Without Heartburn' viewtopic.php?f=10&t=231433&p=3602546&h ... e#p3602546"
Encouragement from Mentor to Newbie.
j (Newbie)
Encouragement from Mentor to Newbie.
aloha"Simple elegance will endure"
Post by Taylor Larimore » Fri Nov 03, 2017 8:12 pmGreat quote!It reminds me why Boglehead basics and simple elegance will endure smoke, mirrors, trends, and the flavor of the month.
Sandtrap:
Thank you and best wishes.
Taylor
j (Newbie)
Re: [favorite] Boglehead quotes
I've heard on a podcast:
You can have easy decisions and difficult life, or you can have difficult decisions and easy life.
Victoria
You can have easy decisions and difficult life, or you can have difficult decisions and easy life.
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
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Re: [favorite] Boglehead quotes
"Take your risk on the equity side."
- Larry Swedroe
- Larry Swedroe
The Sensible Steward
Re: [favorite] Boglehead quotes
"Working to the day you drop is one way to avoid the need for any retirement savings "
--- FiveK
--- FiveK
Re: [favorite] Boglehead quotes
Bill Bernstein: "If you know enough to select a financial adviser, you don' t need one"
Victoria
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
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Re: [favorite] Boglehead quotes
There are many roads to Dublin - Taylor Larimore
One should invest according to their need, ability and willingness to accept risk - Larry Swedroe
I'm working on my second million, the first one I lost - forum poster
One should invest according to their need, ability and willingness to accept risk - Larry Swedroe
I'm working on my second million, the first one I lost - forum poster
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: [favorite] Boglehead quotes
Ouch! It hurts even to read,Grt2bOutdoors wrote: ↑Sun Apr 29, 2018 8:47 pm "I'm working on my second million, the first one I lost" - forum poster
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
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Re: [favorite] Boglehead quotes
It's not a quote, but bigred77 had a post I loved in the thread "What is a boglehead?" (defining Bogleheads in three words).
viewtopic.php?t=164330
Anyway bigred77's post still makes me laugh:
"Used Camry Enthusiasts"
viewtopic.php?t=164330
Anyway bigred77's post still makes me laugh:
"Used Camry Enthusiasts"
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Re: [favorite] Boglehead quotes
"As I see it, there are two approaches to investing: 1) Buy & Hold Forever the World Index and 2) everything else.
Everything else employs some combination of security selection and market timing.
Does anyone do 1? No, everyone falls into the second camp. Then it comes down to how far you deviate from 1."
from thread "Boglehead contradiction, constant asset allocation is market timing" 2/28/18
Everything else employs some combination of security selection and market timing.
Does anyone do 1? No, everyone falls into the second camp. Then it comes down to how far you deviate from 1."
from thread "Boglehead contradiction, constant asset allocation is market timing" 2/28/18
Re: [favorite] Boglehead quotes
I was reminded of two more today:
-"Be counter-cultural in a culture that's lost its mind" (Dave Ramsey)
-"Comparison is the Thief of Joy" (Theodore Roosevelt)
-"Be counter-cultural in a culture that's lost its mind" (Dave Ramsey)
-"Comparison is the Thief of Joy" (Theodore Roosevelt)
I don't know what the future holds, but I know who holds my future.
Re: [favorite] Boglehead quotes
"Nobody knows the market"...
Re: [favorite] Boglehead quotes
+1
Who I like those!!
The second one is so true!!
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!
Re: [favorite] Boglehead quotes
"Gracias por leer"
~ Member of the Active Retired Force since 2014 ~
Re: [favorite] Boglehead quotes
This isn't a quote so much as a way of looking at past taxes due and the associated penalties. I never quite considered it this way before, but it is true:
spectec wrote: ↑Fri May 01, 2015 7:53 am Since you're getting philosophical about the situation, here's some food for thought. I've often had this conversation with people over the yerars regarding "sudden" tax debts.
Once the proper tax debt has been established to everyone's satisfaction, it really isn't a new debt, in the sense that a sudden medical emergency, home repair, or auto accident is a "NEW" financial burden. Fact is, that tax debt existed from the moment the taxable event occurred, and the taxpayer derived some financial benefit from the earnings which created the tax debt. I'm not even suggesting that the amount of the tax was fair or justifiable, but it exists under the same rules played by everyone who pays their taxes on time.
What they did with the unpaid tax money is a separate issue related to spending habits. Maybe they bought a new boat, or paid a divorce lawyer, or paid college tuition, or paid off a settlment to an ex spouse. They did this with money that they would have otherwise borrowed or taken from savings. The point is that the taxpayer took money which was supposed to be used to pay their taxes and they spent it somewhere else. They essentially borowed from the taxpayers to fund something they wanted or needed.
The cost of borrowing this money from the taxpayers is the interest and penalties which must be paid on the borrowed money. Sometimes this cost of borrowing is quite steep, especially when one incurs late filing penalties of up to 25% of the unpaid tax. Otherwise, the combined interest and failure to pay penalties will average about 9 or 10% APR. Not exactly prime rates, but neither does it approach charge card rates - it isn't a bad rate for an unsecured loan. The fact that interest and penalties are not deductible isn't relevant, since interest on consumer debt isn't tax deductible either. It's all just a cost of borrowinig money to obtain some sort of alternative gratification.
None of the above changes the fact that you presumably didn't benefit from any of the mis-spent tax money. It doesn't change the fact that you weren't aware of the debt and it's now a big surprise to you. But I can guarantee you that once the validity of the initial tax debt is etablished, it's a fact that somebody realized some benefit (tangible or intangible), from whatever use was made of the unpaid taxes. Everything else is just a cost of obtaining that benefit.
- Taylor Larimore
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"Simplify. Simplify."
Bogleheads:
Many years ago, a young lady gave me a book written by the great philosopher, Henry David Thoreau. The title of the book was "Walden." It is the account of two years in which Mr. Thoreau built a cabin, raised his own food, and lived a life of simplicity in the woods near the edge of Walden Pond in Concord, Massachusetts.
In this book he wrote the words that changed my life:
"Our life is frittered away by detail... simplify, simplify."
Thank you, Mary, and Mr. Thoreau.
Best wishes.
Taylor
Many years ago, a young lady gave me a book written by the great philosopher, Henry David Thoreau. The title of the book was "Walden." It is the account of two years in which Mr. Thoreau built a cabin, raised his own food, and lived a life of simplicity in the woods near the edge of Walden Pond in Concord, Massachusetts.
In this book he wrote the words that changed my life:
"Our life is frittered away by detail... simplify, simplify."
Thank you, Mary, and Mr. Thoreau.
Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
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Re: [favorite] Boglehead quotes
Here's a quote I've seen around here that I believe is attributed to Warren Buffett:
"A bull market is like sex. It feels best just before it ends."
"A bull market is like sex. It feels best just before it ends."
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Re: [favorite] Boglehead quotes
I bet the guy was Abraham Lincoln.BogleBoogie wrote: ↑Wed Sep 30, 2015 9:53 pmI actually know the guy that created that quote/joke who first posted it on this site in '97.CABob wrote:I can't recall where I first heard it, but one that always makes me chuckle is:"Don't believe everything you read on the internet." Abraham Lincoln
Have a plan, stay the course and simplify. Then ignore the noise!
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Re: [favorite] Boglehead quotes
" Money don't make you happy and happy don't make you money." Groucho Marx
Re: [favorite] Boglehead quotes
"We live in a risky world. But you have to invest. If you put nothing away for retirement, I can tell you, to the last penny, how much you will have when you retire: nothing."
-- Jack Bogle (Bloomberg, Michael Regan interview, 11/23/2016)
-- Jack Bogle (Bloomberg, Michael Regan interview, 11/23/2016)