...just be aware that your portfolio averaged over time will be cash-heavy. So to compensate, you can rebalance cash to 15% and the other three assets to 28%. This is such a wise comment, Tortoise. I hope everyone takes it to heart. Having said that, personally I'm not a fan of adding to cash until...

I'm not sure I understand your question, boglerdude. I would suggest a limit order, priced at or a few cents above the current market price. Certainly I wouldn't sell with a market order and risk being taken advantage of. To see the premium/discount curve, check out this link . The low this year was...

I think that's exactly how the stock market works. Whatever the last sale was, that sets the market cap. Even if it was just one share. And, as you say, the next morning the mistake gets fixed with the first trade, so there's no way for us to take advantage of it.

I'm in the same boat -- waiting for the PHYS premium to turn positive. The expense ratio is something like 0.48%. A bit too high, but I was hoping to take advantage of swings in the premium (buy negative, sell positive). I'm still clueless as to why anyone would sell when the premium is negative. Ho...

This might be easier: gold. Same lady, same strategy and history. She invests $100,000 in gold in taxable account, Scenario (1). She never sells for 40 years. There are no dividends. The gold goes up in value to $2,000,000. I think that, long term, gold has done almost as well as stocks, so it might...

For some light relief, on to Scenario (2): Trad IRA. Same history. $100,000 invested, and a tax break. Her bank balance is $0. She earns 2% in dividends and invests it all -- no taxes along the way. The portfolio grows to $2,000,000. After 40 years, she retires. Withdraws $100,000 from her Trad IRA....

OK, I'll do one more, for long-term treasuries. Same situation and history for the lady investor. But now she is investing $100,000 only in LTTs. For a coupon yield, I'm going to pick 2%, close to what it is today. The investor buys the LTTs in a taxable account, Scenario (1). Again, she reinvests a...

Now, in retirement, she wants to live off $100,000. At 2%, the dividends earned this year total $20,000. That means our investor has to sell $80,000 worth of stock. That amount has a tax basis of $20,000 (25%). So the capital gain of that $80,000 is $60,000. OK, I spotted one mistake already, but i...

Scenario (3) : Roth IRA. Same background as before. Our investor puts $100,000 into a Roth IRA. She gets no tax benefit for doing so. She pays 24% on that money earned before investment. We can consider her to have a bank balance of -$24,000. Over 40 years she reinvests the dividends, averaging $10,...

Scenario (2): Stock investing in a Traditional IRA. Same background as before. Our investor places $100,000 over 40 years into a Trad IRA. She gets a tax break on that money. She's in the 24% tax bracket, so there is a saving of $24,000 relative to the previous example. We can consider her to have a...

This topic is so fundamental to PP investing, I think we need to reach a definitive consensus. I need some numbers to understand the complexity, and I would love it if you all would correct me if I make a mistake below. Thanks. Let's consider a PP investor, who invests in the four assets, but let's ...

I hear ya. It's true that we don't have a lot of data for rising rates. But we do have a full decade of truly skyrocketing rates. And during that time the PP still stayed right within its normal band of returns. Personally, I don't think the PP was driven by falling rates any more than it was drive...