Search found 932 matches

by KevinW
Mon Oct 17, 2016 11:24 pm
Forum: Bonds
Topic: Any opinions on FZFXX
Replies: 3
Views: 2427

Re: Any opinions on FZFXX

As cash vehicles go, FZFXX looks pretty good. It "...normally invests at least 80% of the fund's assets in U.S. Treasury securities and repurchase agreements for those securities" and 80% T-bills is a pretty good proportion. It's hard to find much better. The expense ratio is high but not outrageous...
by KevinW
Mon Oct 17, 2016 11:17 pm
Forum: Permanent Portfolio Discussion
Topic: HB audios still available somewhere (else)?
Replies: 3
Views: 1601

Re: HB audios still available somewhere (else)?

Also, a little birdie told me that there used to be torrents for these.
by KevinW
Sun Sep 18, 2016 1:39 am
Forum: Permanent Portfolio Discussion
Topic: What would the PP look like without fiat currency and central banks?
Replies: 19
Views: 5703

Re: What would the PP look like without fiat currency and central banks?

Back on topic, if gold and cash were interchangeable then 25x4 is equivalent to 50% cash, 25% long term bonds, 25% stocks. Note that the total bond market is mostly short term bonds. So the 50/25/25 allocation is very similar to a 75% total bond market, 25% total stock market portfolio. In other wor...
by KevinW
Fri Aug 05, 2016 1:27 am
Forum: Permanent Portfolio Discussion
Topic: 401(k) Rollover
Replies: 12
Views: 4773

Re: 401(k) Rollover

I prefer to rollover into an IRA instead of the new employer's 401k. With an IRA you can choose the broker, and change brokers at a whim, so you will always have a PP-friendly custodian. Even 401k's with a brokerage window tend to gave a few "gotchas" that cause headaches. For example mine requires ...
by KevinW
Fri Aug 05, 2016 1:18 am
Forum: Permanent Portfolio Funds
Topic: PRPFX article on MarketWatch
Replies: 5
Views: 10420

Re: PRPFX article on MarketWatch

The short take on PRPFX: it's a convenient, legitimate one-fund PP; expense ratio is quite high; the asset allocation is not 4x25, but is in the same ballpark; it does not always track the 4x25, but that's well explained by the asset allocation differences; returns and volatility are pretty close to...
by KevinW
Fri Jul 22, 2016 12:12 am
Forum: Permanent Portfolio Discussion
Topic: Things about the PP that do not make sense to me
Replies: 37
Views: 9294

Re: Things about the PP that do not make sense to me

I believe the Cash FAQ sticky thread on this forum has essentially the same contents as the Crawling Road blog post:
http://www.gyroscopicinvesting.com/foru ... p?f=4&t=17
by KevinW
Wed Jul 20, 2016 1:44 pm
Forum: Permanent Portfolio Discussion
Topic: Things about the PP that do not make sense to me
Replies: 37
Views: 9294

Re: Things about the PP that do not make sense to me

The cash component: - Retains value during tight-money recessions, so that you can "buy low" on stocks, or even consumer purchases such as real estate and cars. - Prevents you from "selling low" on other assets when you withdraw from the portfolio (as Sophie has analyzed). - Performs well when inter...
by KevinW
Thu Jul 14, 2016 1:03 pm
Forum: Permanent Portfolio Discussion
Topic: Scott Burns' Co on the PP
Replies: 58
Views: 16294

Re: Scott Burns' Co on the PP

The only wrinkle is that the age in bonds portfolio will get a bit of a head start through the young professional's retirement program. Not much of one though. True. What is the "default" advice for a young professional starting a PP from scratch? Browne said to maximize tax efficiency, but hold go...
by KevinW
Wed Jul 13, 2016 8:01 pm
Forum: Permanent Portfolio Discussion
Topic: Scott Burns' Co on the PP
Replies: 58
Views: 16294

Re: Scott Burns' Co on the PP

The comparison of the 60/40 returns to the 25x4 PP indeed isn't fair, because the owner of the 60/40 needs to hold cash. How much isn't clear, but most would recommend a sizeable enough chunk that it's a significant fraction of the stock/bond portfolio. Hear, hear. The time spent accumulating the c...
by KevinW
Sat Jul 09, 2016 1:01 am
Forum: Permanent Portfolio Discussion
Topic: Vanguard Sucks
Replies: 21
Views: 4876

Re: Vanguard Sucks

What's the advantage of a mutual fund over an ETF again? Price is less volatile - don't have to pay extra to ensure 'market' price is really 'market' price. Also, when you buy funds directly from the sponsor (Vanguard), there is slightly less counterparty risk since there is no stock exchange in th...
by KevinW
Fri Jul 08, 2016 12:27 am
Forum: Permanent Portfolio Discussion
Topic: Vanguard Sucks
Replies: 21
Views: 4876

Re: Vanguard Sucks

Their stated philosophy is to minimize complexity and transaction costs. They'd rather have you lump everything into one fund-of-funds, or maybe a three-fund portfolio. The only workarounds are things I expect you've already decided not to do: streamline to fewer funds, replace some of the individua...
by KevinW
Fri Jul 01, 2016 6:54 pm
Forum: Bonds
Topic: Engineering Your Own SHY
Replies: 18
Views: 6581

Re: Engineering Your Own SHY

Kbg wrote:I think it looks like breakeven to maybe even a bit more expensive to do the ladder vs. SHY given my likely trade size. And certainly SHY wins in the hassle factor category.
Yeah, that's my feeling. The ladder works and people who use it are not wrong, but for me it's not worth the hassle.