Search found 1780 matches

by DanH
19 Feb 2018 21:21
Forum: Financial News, Policy and Economics
Topic: Buffett Buffet
Replies: 662
Views: 126260

Re: Buffett Buffet

Here is a transcript of Charlie Munger's talk and Q&A from the annual meeting of the Daily Journal. Lots of interesting stuff here.
by DanH
14 Feb 2018 18:15
Forum: Financial Planning and Building Portfolios
Topic: Help Me Work Through This (Early) Retirement Plan
Replies: 37
Views: 1654

Re: Help Me Work Through This (Early) Retirement Plan

That's the short version, which will do just fine. Users will just have to take care with choosing the remaining lifespan input. Otherwise, that does the trick. Also note that the "return" input is an arithmetic average and is in real terms (i.e. net of inflation). (I have this version + a 'longer' ...
by DanH
14 Feb 2018 17:34
Forum: Financial Planning and Building Portfolios
Topic: Help Me Work Through This (Early) Retirement Plan
Replies: 37
Views: 1654

Re: Help Me Work Through This (Early) Retirement Plan

skinnyinvestor, you are in an impressive position given your respective ages and that you're raising a young family. Your costs will indeed rise through the teenage years (and beyond) but you are on more than solid footing. Regarding withdrawal rates, it's worth noting that it's a relatively young b...
by DanH
12 Feb 2018 16:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Ditching XIU and replacing with...
Replies: 12
Views: 846

Re: Ditching XIU and replacing with...

If you simply adopt a true indexing attitude, you should either buy a total world stock market ETF or simply hold a smaller percentage of Canadian vs. global stocks. Something on the order of 30/70 Canada/Global could do the trick and still give you a home bias vs. Canada's market cap ranking/weight...
by DanH
11 Feb 2018 21:39
Forum: Financial Planning and Building Portfolios
Topic: Portfolio Advice for Elderly Relative (Early 90s)
Replies: 30
Views: 1127

Re: Portfolio Advice for Elderly Relative (Early 90s)

There is some good input here on products/structure so I will jump in with some higher-level thoughts that may affect the specific implementation details. You say that this is for an elderly relative; but that this money is not needed to cover ongoing living expenses. In other words, this money is r...
by DanH
05 Feb 2018 22:45
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Re: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

This is very strange. I wonder if trades initially occurred at higher prices but they were later adjusted. Yahoo!Finance also shows a $25 closing price; but look at the bid-ask spread. I've added a picture since by tomorrow my link may not align with the direction of this thread and my comments.
by DanH
05 Feb 2018 22:13
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Re: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

While less extreme, the same trends were observed with VBAL and VGRO today - where premium to NAV by end of day was roughly equal to the divergence of market price (rising) and NAV (falling).
by DanH
05 Feb 2018 22:10
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Re: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

Because time may make this disappear or just tougher to find, a snapshot is in order. As of today's close VCNS traded at nearly 12% above NAV. That all seemed to transpire today given that the NAV was down 0.65% on the day while the market price was up more than 11%. So not only is it imperative to ...
by DanH
05 Feb 2018 22:04
Forum: Financial Planning and Building Portfolios
Topic: Recommended fee-only financial planner in or near Toronto?
Replies: 18
Views: 2270

Re: Recommended fee-only financial planner in or near Toronto?

It's a crap shoot for novices only. For those who have experience investing and/or in dealing with professionals of various types, it gets easier to tell the good from the not-so-good to the bad. I've experienced this over the last 15 years; during which I've become much better and more successful i...
by DanH
05 Feb 2018 18:26
Forum: Financial Planning and Building Portfolios
Topic: Recommended fee-only financial planner in or near Toronto?
Replies: 18
Views: 2270

Re: Recommended fee-only financial planner in or near Toronto?

So it is a crap shoot for the novice investor when choosing a Financial Planned/Advisor. The designations mean that one has completed a course and little else. Aside from word of mouth how does one chose a competent planner from the huge number of choices one is available? Crapshoot is overstating ...
by DanH
05 Feb 2018 18:17
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Re: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

Because it was a big down day for stocks; but it was a very good day for high quality bonds from what I saw (though I didn't see closing #s for bonds). In any event, you can check Vanguard's site later tonight or tomorrow to see where price and NAV closed for today.
by DanH
05 Feb 2018 14:22
Forum: Financial Planning and Building Portfolios
Topic: Recommended fee-only financial planner in or near Toronto?
Replies: 18
Views: 2270

Re: Recommended fee-only financial planner in or near Toronto?

I used one of the planners on that list IMHO she/he was no help and seemed to be really a part timer. The more lists your on the more potential to attract clients. To be able to tell if I'm getting even close to competent advise I'd have to know as much as you DanH or at least know enough to tell y...
by DanH
02 Feb 2018 21:08
Forum: Taxing Situations
Topic: Helping friends switch from mutual funds to ETFs
Replies: 24
Views: 627

Re: Helping friends switch from mutual funds to ETFs

I hope you are not suggesting that they should keep their high-MER funds. They found the right place to ask questions... that's a good start. Not necessarily but "high" doesn't tell us anything. I have seen some people refer to Mawer and Leith Wheeler MERs as high so it's not clear exactly what we'...
by DanH
02 Feb 2018 20:50
Forum: Financial Planning and Building Portfolios
Topic: Recommended fee-only financial planner in or near Toronto?
Replies: 18
Views: 2270

Re: Recommended fee-only financial planner in or near Toronto?

This seems as appropriate as any other thread in which to post this. Noted Financial Planner and financial blogger/podcaster Michael Kitces launched a fee-only financial planning network - XY Planning Network - a few years ago. Read about it in this recent online article . The reason I'm posting thi...
by DanH
02 Feb 2018 16:20
Forum: Taxing Situations
Topic: Helping friends switch from mutual funds to ETFs
Replies: 24
Views: 627

Re: Helping friends switch from mutual funds to ETFs

birdiepars, the first thing that occurred to me when reading your question - out of genuine curiosity/concern, not to pick a fight - was: Are you are up to the task of helping your friends? I ask only because your question is a fairly basic one; which suggests that you're kind of learning as you fol...
by DanH
02 Feb 2018 16:03
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Remorse after buying mutual fund
Replies: 4
Views: 327

Re: Remorse after buying mutual fund

saminkalhor, as you can see there are many waiting to offer some help/insights. One thing I"ll note pending more details is that if you invested in a "conservative income" fund that pays monthly income, you will see the unit price (NAVPU - net asset value per unit) fall every time it pays a distribu...
by DanH
02 Feb 2018 09:43
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Re: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

True, a product is not a plan. It's an important point. But with the product side taken care of (if VBAL or something similar fitting the bill) you can line up a couple of fee-for-service financial planners to provide the back-up for the planning side. But yes, it's ideal to have those two functions...
by DanH
01 Feb 2018 17:05
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Re: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

Vanguard has posted some info on the new balanced ETFs. For the balanced VBAL ETF the underlying ETFs have a combined Management fee of 0.16%. So Vanguard adds 0.06 for a fee of 0.22%, not too bad. I haven't done the calculation but trust that the 6 basis point premium is about right. And I'd say t...
by DanH
01 Feb 2018 10:27
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Re: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

On the issue of rebalancing, Vanguard is at least one of the few asset managers that has diligently researched the issue. Most have not. Of course I only discovered this when digging into this issue myself. I wrote some basic thoughts on rebalancing several years ago but did a lot more work in 2015 ...
by DanH
31 Jan 2018 20:44
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]
Replies: 112
Views: 3747

Norbert, your wish has been granted [Vanguard launching cheap balanced index ETFs]

Norbert, for the life of me I could not find the old thread where you hoped iShares would launch a cheap balanced index ETF. That was probably 10+ years ago but Vanguard has finally granted your wish . Basically it’s three balanced ETFs with slightly different mixes around the middle; with 0.25% MER...
by DanH
19 Jan 2018 12:31
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Tangerine mutual funds 1% bribe
Replies: 7
Views: 621

Re: Tangerine mutual funds 1% bribe

If I had posted yesterday I'd have written how insulted I am for not having received the offer. I've been a client for > 20 years. I guess it took longer for the horse and carriage to deliver to Windsor because they arrived today (both for me + my wife). We won't be taking advantage of it but I want...
by DanH
17 Jan 2018 15:37
Forum: Financial Planning and Building Portfolios
Topic: $450K to invest for six months -- what would you do?
Replies: 29
Views: 914

Re: $450K to invest for six months -- what would you do?

I'd expect that in most years you'll see mostly fully taxable income. Until February 2016, CSD used an equity forward to re-characterize income. So pay no attention to distribution characteristics pre-2016. But I'd urge anyone tempted by CSD to really dig into it. It holds ~16% in term loans. Not li...
by DanH
17 Jan 2018 15:16
Forum: Financial Planning and Building Portfolios
Topic: How Did You Do in 2017?
Replies: 111
Views: 4149

Re: How Did You Do in 2017?

You could always insert a preferred ETF as a component of your benchmark to include the asset class. Or just chalk it up to a value-added active decision on your part!
by DanH
16 Jan 2018 13:59
Forum: Financial Planning and Building Portfolios
Topic: $450K to invest for six months -- what would you do?
Replies: 29
Views: 914

Re: $450K to invest for six months -- what would you do?

I would just game the CDIC coverage on a HISA and get somewhere like 2.30% and be happy with it. The only problem with this is one of timing/liquidity. While CDIC coverage effectively covers the credit risk of going with a smaller bank with more aggressive pricing (i.e. higher interest rates); thin...
by DanH
16 Jan 2018 13:55
Forum: Financial Planning and Building Portfolios
Topic: $450K to invest for six months -- what would you do?
Replies: 29
Views: 914

Re: $450K to invest for six months -- what would you do?

How many $K on the downside does it take to move the OP's needle?? To give a quick, clear answer: Suffering a $50K loss would not wreck us. I'd really rather not blow $50K -- but I suppose if the potential reward were compelling enough we would consider it. The key, I think, is finding a decent ris...