Gyroscopic Investing

Just listening as I work so I haven't listened to the whole program. 14 minutes in, Bernstein mentions that safe assets should be held as T-bills (as opposed to bond funds) and that Buffet holds 20% in bills.

https://twitter.com/i/spaces/1rmGPgNWXRMKN?s=20

You will probably find this five part article interesting then.
https://www.idiosyncraticwhisk.com/search?q=bonds

Great listen. I seem to always enjoy Bernstein.

Thanks for posting.

joypog wrote: ↑Thu May 05, 2022 2:34 pm
Just listening as I work so I haven't listened to the whole program. 14 minutes in, Bernstein mentions that safe assets should be held as T-bills (as opposed to bond funds) and that Buffet holds 20% in bills.

https://twitter.com/i/spaces/1rmGPgNWXRMKN?s=20

Is there any date for the recording?

Yes, it was today, 5/5/2022.

joypog wrote: ↑Thu May 05, 2022 2:34 pm
Just listening as I work so I haven't listened to the whole program. 14 minutes in, Bernstein mentions that safe assets should be held as T-bills (as opposed to bond funds) and that Buffet holds 20% in bills.

https://twitter.com/i/spaces/1rmGPgNWXRMKN?s=20

This was quite good. Listened to it twice while doing no-mind work on my property this afternoon.

Bernstein (along with Michael Kitces) is on MY personal finance Mt. Rushmore!

Does anyone else get this image in their head when listening to Bernstein?

The Dude

whatchamacallit wrote: ↑Sat May 07, 2022 12:12 am
Does anyone else get this image in their head when listening to Bernstein?

The Dude

No, since I have prior seen his pictures and have thought he was in his 70s:

Why would he be down on TBill etfs? I’m keeping my dry powder in SGOV which is a 0-3 month treasury bill etf with a .05% expense ratio. I prefer the ease of that instead of setting up auto rolling etc. Especially since I can reinvest the distributions into more shares.

jalanlong wrote: ↑Fri Jul 15, 2022 12:00 pm Why would he be down on TBill etfs? I’m keeping my dry powder in SGOV which is a 0-3 month treasury bill etf with a .05% expense ratio. I prefer the ease of that instead of setting up auto rolling etc. Especially since I can reinvest the distributions into more shares.

In my view .05 is well worth it too. However, individual bonds have a bunch of advantages including aligning with funding needs, less self-sabotaging loss reaction behavior, better tax planning and plain ole keeping your .05% for you.. Let's say you know how to buy a bond on Treasury Direct (TD) or at your broker with a $1M bond portfolio that's 5K per year in savings.

I could set up complex a $1M auto-rolling T-Bill ladder in 15-20 mins top. Probably 5mins for a basic roll it all on the same date next year (or something similar) plan. $5K is quite a bit to pay for a 20 min do it yourself job. (x number of years held)

If I could move money between TD and my brokerage accounts of various tax treatments I'd never own bond fund.

.05 percent of 1 million would only be 500 but that is still a lot when you think about how little income you are earning from the etf.

If you earned $20,000, $500 would be 2.5% of your income you earned from the fund.

whatchamacallit wrote: ↑Mon Jul 18, 2022 9:28 pm .05 percent of 1 million would only be 500 but that is still a lot when you think about how little income you are earning from the etf.

If you earned $20,000, $500 would be 2.5% of your income you earned from the fund.

Yep...I goofed it. Thanks for the correction.