how to retire well Howdy
@heezsafeHmmmmm. Yes, to the aging brain thing. Do think about this at this house and have a plan.
Recalling a few discussions with a 90 year old several
years ago regarding items that had been structured into a "living will" and a trust that was set in place with an attorney. The discussion was an after the fact. I performed my normal "why and what if" with this person; not unlike we do at our house regarding investments.
The first discussion resulted in anger towards me; as I was told that I'm not an attorney, and what did I know. Although the questions I asked were standard reasonable questions as to why was such and such established in this fashion.
After several months and a few more discussions, there was an admission by the 90 year that they should have included their daughters in the whole thought process before any papers had been signed by her for the "trust" account. Only one daughter was involved with the process, with the other three being notified about what had taken place after finalization. The living will portion was altered two times within the next two
years to reflect a more proper thought process; versus a "let's get this done today" approach.
The 90 year old is a very sharp thinker and can recall more of their life than I every will be able to do for my own life. But, they thought more along the line of I know what I am doing and didn't feel a need to place their thinking to a "devils advocate" circumstance of bouncing their decisions for a Q&A with the daughters.
Aging isn't the only potential problem with the brain and investing. I'm sure we all know those who are quite sure they know everything and don't need to discuss their investment choices with anyone else regardless of age.
I've never been in that "place". I at least understand my limits of knowledge. But, my stupid day may/will arrive at some future date, eh?
Thanks for the article link.
Take care,
Catch
Succession Planning @ Osterweis FWIW, I bought OSTVX near it's inception and used to be very happy with it, but it has been subpar for the last 2 years, so I finally sold it.
2015 Capital gains distribution estimates @heezsafeI noticed the spillback information prior to the CG information being posted. I am glad I don't have to deal with the accounting for that.
Years ago I held Fairholme. After I filed my taxes, months later, I received an amended tax 1099 from Fairholme. I had to filed an amended tax form. Was not too happy about that.
While Markets Tumbled In The Summer, Many Savers Held Tight FYI: When fear was pumping through the stock market this summer, most retirement savers kept their cool.
So say figures from Fidelity, which could see how individual investors in general behaved by looking at its 13.5 million 401(k) and 6 million IRA accounts as stocks tumbled in New York, Shanghai and places in between during the turbulent third quarter. The Standard & Poor's 500 index sank more than 10 percent within a week during August, driving the index to its worst quarter in four
years.
Regards,
Ted
http://bigstory.ap.org/article/72fb3bd726b24e36b1f28aa047e2c8a9/while-markets-tumbled-summer-many-savers-held-tightSo far the linkster has held tight in 2015, with the same five fund that I began the year with.
QQQ= 11.96%
PRHSX= 10.38%
FBTCX= 8.78%
SPY= 3.69%
PFF= 3.37%
7.636% YTD
Manager Ownership Does Seafarer offer to issue certificates as an alternative to book entry? How quaint and charming.
I still have a mutual fund certificate (from a very old fund that has gone through several name changes as well as fund family changes). I couldn't find it a few years ago after a move, so I contracted the fund company. Just as with a stock certificate, they said they'd replace it if I'd pay something like 2% of the value to ensure that it really was lost (or something like that). I declined.
Not much later, the fund company decided that it didn't want to deal with certificates any more, so it converted all certificates regardless of whether they were returned. So I now have book entry, and I finally found the certificate for my scrapbook.
If Scottrade (or any brokerage) were to abscond with street name assets (which are segregated and held by DTC), SIPC would kick in. "Street name" is equivalent to how banks hold your cash. It's not your cash - it's the bank's cash, which it is free to lend out and keep an IOU for you on its books. If the bank goes bust, or someone steals "your" cash, FDIC kicks in.
Sequoia is now a three-star fund @msf Thanks for the factoids; they were "in there," but I wouldn't have recovered them without your assist. Several
years ago, when I found myself standing on my head repeatedly to try to explain why data on different pages didn't match up, and when they would say one thing and do something else (or not do it), I decided not to use M* as a go-to source, so I don't much care what they do, or when they do it, or how many stars they see, or what kind of metallic glaze they choose for different shiny objects.
Sequoia is now a three-star fund Why people are surprised with the change in stars of the fund ? Star rating is purely on mechanical calculations based on the risk-adjusted performance of the funds and a reflection of their aggregate past record (3, 5 and 10 years) with more weightage long term record than short. Periodically star ratings are caluculated every year and I am not sure how frequently they do that and publish the new start ratings of the funds.
If M* mentioned this fund is under review, that is for their qualitative rating (Gold, Silver, Bronze, etc.) based on their Analst analysis of the fund
Warren Buffett’s Way To Invest For Retirement: 90/10 Allocation Yeah, once I get my 1st $ 1 BILLION I will consider a 90/10 allocation...!
I have in my possession an old (~1960s era) edition of "The Intelligent Investor", written by Buffett's one-time mentor, Ben Graham. In it, he discusses the topic of asset allocation. He wisely admitted that there is no optimum allocation advice for all investors, but as a general guideline that a 2-asset (equities, US Treasurys) portfolio should generally contain no more equities than 75% and no less than 25% for most investors. Graham described that investors younger and more risk-tolerant might have as much (but no more) than 75% equities; older and less risk-tolerant investors should still have at least 25% equities. Basically any extreme allocation outside the 75/25 to 25/75 was not recommended.
Graham's counsel always seemed to me to be simple -- and thus easy for an individual to implement-- and wise.
(Several years ago, I paged through a modern edition of Graham's book in a Barnes & Noble, looking for that passage, but it seems to have been posthumously excised, perhaps replaced by "newer, enlightened" thinking during the great 1990's bull market).
An aside: I doubt Graham would have much positive to say regarding the current excitement with "alternative strategies" -- especially given the expense ratios in vehicles available to retail investors.
Sequoia is now a three-star fund Ya know, Charles adds some clarity with the data. Recent performance hasn't been so hotsy-totsy. Add to that the (reasonable) supposition that their huge Valeant holding is a dead man walking, do the math, and M* pretty much had to knock off some stars. A cautionary tale for those who believe that concentrated MFs and high active share numbers hold to the virtuous path, in and of themselves. When one goes with concentration anywhere inside the portfolio, I think it's important to mine a little deeper on the screening before making choices, and to look at other stats we rarely talk about on the Board:
tracking error and information ratio.
[I think it was
@MJG who made this point in a comment over a year ago]
Anyone know how those figures have moved for SEQUX, over the past 5
years?