Jorgensens on Money - Free Discussion Site
- Kirk
- Happy
- Rande
- Happy
- SteveT
- BumpyBrown
- Rande
- Happy
- Kirk
- Kirk
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» Kirk - Bogle URL
Jorgensen Archives with July 30th show with interview of John Bogle.-- posted by Kirk
» Happy - This Jorgensen sounds like a man after my own heart.
This Jorgensen sounds like a man after my own heart. 100% sp500 till you get old (65). Forget about foreign Stocks and any bonds when you are young. Hey, I may not be exactly young, but statistially I still have 35 years.Actually it was Bogle and Wells Fargo, not Brinker that got me to lump sum into the sp500 in 1982. There were no total market funds at that time.
One thing Kirk, when I try to play the Jorgensen archive of today, my screen freezes, about 5 seconds into the program? Sounds like a site problem.
-- posted by Happy
» Happy - At first Wells Fargo only offered their index fund to Private Ba
At first Wells Fargo only offered their index fund to Private Banking clients.I was with Wells Fargo for a long time,until one year when they dumped all their capital gains at once. That last year with them the Index fund declared a 50% capital gain dividend. I was furious and told the head of Wells Fargo private banking operation(AA), if you know who I mean, why.
I pulled my account and went to Vanguards sp500 fund. I think this was about 1990. At first Vanguard's VFINX used to have large capital gain dividends but in recent years has been much better. Now if I make additions, I do it to the Vanguard tax efficient sp500 fund (VTGIX).This fund has had zero capital gains dividends for about six years.
-- posted by Happy
» SteveT - Bogle interview
Bogle interviewI listened to the interview it starts about 1 hour and 35 minutes into the show. They started by mentioning the N.Y. Times contest that was to run 20 years but they (the times) quit after 7 years. At that time the index funds were at $188K and managed funds at $133K both started with 100K.
They talked about ETF; Bogle did sound to me like he was in favor of the instrument but not the way they are planning on "playing it". He said SPY is commonly held for from 2-18 days while he favors a hold forever approach. John likes the low costs but feels the industry is going to misuse them. They will be sold and many commissions collected. He called it a gambling casino mentality, in jest saying the more you gamble the more you make. [maybe he meant the brokers;)]
Bogle said best to decide what you want to do and stay the course. Jim brought up the record keeping nightmare for non IRA accounts and trading ETFs. Jim said best to "sit on the beach" also "the most money is made by those who do the least." Bogle agreed and concluded by saying have a reasonable allocation maybe 100% equity for a 20 year old and only 50% for retired people at most. Buy and hold index funds, and rely on America’s productivity. He thought returns going forward would not be as good as they have been, maybe 10% or so, maybe significantly less than 10%. Bogle has a new book coming out in about 6 weeks.
Worth a listen imo.
-- posted by SteveT
» BumpyBrown - Bogle Book-John Bogle on Investing
Is due out Sept 15. Amazon's synopsis:John Bogle on Investing is the first comprehensive review of the career and contributions of this dynamic investing icon. From Jack Bogle’s never-before-published 1951 Princeton thesis to nearly two-dozen essays covering five decades of investing, it is a 50-year compendium of the work and wisdom of one of the world’s most important financial figures.
---
I'm sure Kirk will have a link for ordering in due time.
-- posted by BumpyBrown
» Rande - Gee, I hope they include this quote:
Gee, I hope they include this quote:
The idea that a bell rings to signal when investors should get into or out of the stock market is simply not credible. After nearly fifty years in this business, I do not know of anybody who has done it successfully and consistently. I don't even know anybody who knows anybody who has done it successfully and consistently. Yet market timing appears to be increasingly embraced by mutual fund investors and the professional managers of fund portfolios alike.
John C. Bogle
-- posted by Rande
» Kirk - 8/27/00 Summary of Opening
Jim is on vacation this week.Richard summarized the market: He made mention that the economy is slowing and the buying binge is slowing and perhaps everyone is done buying what then need (I heard Greenspan call this "satiated")so Greenspan should be happy and leave rates alone. Said that the S&P500 being over 1500 is a GOOD THING.
Jim on the phone reports:
- Super-8 buy-n-hold portfolio of 8 stocks is up 23% YTD ( I actually show it up 23.9% YTD in Quicken)
Super-8 Stocks: EMC, GE, IBM, INTC, JNJ, MRK, MSFT & PFE
(only LOSER in the group this year is MSFT!) - Kaufman fund is up 18.5% (this is the fund that buys banks and did poorly and Jim last year said to hold on or buy more as it should do well in the future..)
- EMLX - Bad news story caused stock to tank until they stopped trading and got the correct story out. He commented that the competition between news sources caused the problem as they got the news out without checking it. He said it was all due to the internet and the speed the news gets around so fake stories can spread and do damage before they are found out to be true or fake.
- KREM - Crispy Kreme. Last week stock went up $20 to $80 and it is a "craze" and you need to be careful and not get caught on the wrong side as these stocks always end up tanking.
- Has a free seminar in two weeks
Nice summary of the week and took all of 5 minutes!
-- posted by Kirk
» Kirk - Richard on Market Timing
A Caller asked Richard about Brinker and his "something like 80% in cash".Richard says that his Dad had the Moneytalk show in New York BEFORE Brinker took it over. That Brinker now works for Disney and he and his dad are independent. (I was told Jim left when they told him he would ONLY get to talk 19 minutes for each hour as the rest of the time is for news and commercials!)
Richard says they are long haul buy and hold, the "do nothing strategy" where "we believe you make more money by buying solid investments that make you money over the long haul and you just hold them."
They don't believe in market timing and switch in and out where you often make more money for the people switching you than you do for yourself. (lets not forget the tax man!)
-- posted by Kirk
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