Vanguard fund-of-funds and investor shares

The Vanguard total market funds’ investor shares make it possible for Vanguard to offer its fund-of-funds for a direct cost of zero (0.00% ER). This, by the way, is why Vanguard can not offer “admiral shares” of the fund-of-funds because

Posted in Mutual funds, Target date funds

Review: The Bogleheads’ Guide to the Three-Fund Portfolio

The latest entry in the Bogleheads’ Guide series of investment books, The Bogleheads’ Guide to the Three-Fund Portfolio, by Taylor Larimore, published by Wiley, is a short book devoted to a simple portfolio (targeted to US investors) made up of

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Coming soon: “Bogleheads on Investing” podcasts

Mel Lindauer,  president of The John C. Bogle Center For Financial Literacy , made the following July 12, 2018 announcement: I’m thrilled to announce that The Bogle Center for Financial Literacy will be sponsoring an ongoing series of podcasts, hosted by

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South Florida local chapter meeting, July 1, 2018

The following guest post is courtesy of South Florida Local Chapter member Lazy Nihilist. We had our South Florida Bogleheads Chapter meeting on Sunday from noon to two p.m. at the Stirling Road Branch, Broward County. This meeting had a

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Revisiting Risk and Reward (Part 3)

A previous blog article explored income-centric risk and reward definitions, which could be viewed as more suitable to retirement than the usual academic definitions. Corresponding quantitative analysis of some simple US portfolios was provided. A follow-up article explored the perspective of retirees located outside the US.

This article extends this investigation by exploring in more technical depth the tie-in between Safe Withdrawal Rates (SWR) and variable withdrawal methods, through the use of a clever metric named Withdrawal Efficiency Rate (WER). 

Posted in Asset allocation, Market history, Market statistics, Portfolios

Revisiting Risk and Reward (Part 2)

A previous blog article explored income-centric risk and reward definitions, more suitable to retirement than the usual academic definitions. Corresponding quantitative analysis of some simple US portfolios was provided.

This article extends this investigation by taking the perspective of investors located in various developed countries (a form of ‘out of sample’ testing).

Posted in Asset allocation, international stocks, Market history, Market statistics, Portfolios, Retirement

Revisiting Risk and Reward

Financial literature from academics has been strongly influenced by the ground-breaking work of Harry Markowitz and William Sharpe, and the concept of risk & reward for a multi-asset portfolio. Although brilliantly innovative, this work is often misused, equating risk with (portfolio) volatility and reward with (portfolio) returns, and applying such principles without acknowledging the fundamental differences between investors and speculators, or accumulators and retirees.

This article will explore risk and reward from a perspective more suitable to retirement, and perform corresponding quantitative analysis of some simple portfolios.

Posted in Asset allocation, Market history, Market statistics, Portfolios, Retirement, Value premium

Interview with Taylor Larimore: Taylor’s investment journey

Taylor Larimore, affectionately known as “the dean of the Bogleheads,” has been an investor for over seven decades. Recently we asked Taylor a few questions that trace his evolution as an investor. Financial Page: Thanks Taylor. We would be interested

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Bogleheads® Wiki 2018 annual report

The Bogleheads® Wiki was first created on May 13, 2008 and introduced publicly on May 21, 2008. This May marks the tenth anniversary of this project endeavor from members of the Bogleheads Forum. The administrators of the wiki (the author

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Sacramento Area Local Chapter Meeting Summary (April 14, 2018 )

This article is composed by Bogleheads® forum member digarei. Seventeen people attended the thirty sixth meeting of the Sacramento Area Local Chapter. The April 14, 2018 meeting took place between 10:00 AM – 12:30 PM and consisted of: Introductions: 24

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Posted in Behavorial Factors, Boglehead local chapters
August 2018
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