ROTH IRA Question-Calling LetsRun Investing Gurus

Idbouga wrote:

werster wrote:

Wow. Your reply does absolutely nothing to counteract the other post.

What's even more impressive is that a guy who manages $130 million can be bothered to buy a little old lady some CDs. Sounds like a slow day at the office.

I wonder how you and your clones behaved back in 2008-2009. I suppose if you had investments you were in a corner shaking. Hopefully you will experience some bad markets before you put your CFA to work.

sad wrote:

Ghost of Igloi wrote:

That is BS. I opened up an account and purchased CDs for a 79 year old lady today. Disagree with my opinions, but don't spread lies.

http://i.imgur.com/dnr3gDr.gif

No at the top of the list should have been your Vanguard Funds and ETFs. Good at losing money at low cost.

werster wrote:

Ghost of Igloi wrote:

That is BS. I opened up an account and purchased CDs for a 79 year old lady today. Disagree with my opinions, but don't spread lies.

Wow. Your reply does absolutely nothing to counteract the other post.

Wow yourself. The point is helping someone regardless of need. You don't want that answer because you are the troll. Besides I am a CFP and have been for over a decade, required to act in best interest of client well before Fiduciary Rule existed.

OP, spend $15 and buy The Gone Fishin Portfolio book. Your question will be answered and you'll never need to pay somebody to provide equal or inferior performance. Best utilized in retirement accounts without tax implications.

Unless you're a professional investor, do not try to time the market. I don't know why Ghost thinks he can.

For much of 2016 people were talking about the stock market being overvalued and we were due for a correction. Here are 3 of the top 5 Google hits for "2016 is the dow overvalued".

Aug 2016:

http://www.cnbc.com/2016/08/04/if-you-follow-warren-buffets-strategy-this-market-is-significantly-overvalued-commentary.html

Apr 2016:

http://www.cnbc.com/2016/04/18/by-this-measure-the-sp-500-is-overvalued-by-72.html

April 2016:

http://www.barrons.com/articles/are-u-s-stocks-sharply-overvalued-again-1461019423

If you tried to time the market then when the Dow was at 18,000 or so, guess what you missed out on a 16% gain since then.

Of course at some point the market will come down. Then it will go back up. We don't know when or how much things will change, except that in the long run, the historic trend is long term it goes up. Don't try to time it. Invest it and forget it.

A couple of points, the valuation metric that Warren Buffet called most important model is two standard deviations above the norm. Currently Buffett is holding over 30% of his portfolio in cash. Lastly, to paraphrase Warren "be fearfull when others are greedy, be greedy when others are fearfull." All three principles have been incorporated in one way or another in my comments.Igy

I am concise,

The Dow was at 17,888 on 11/4/2016. So if you think you have anything more than paper gains think again.

Igy

ive been very happy with the vanguard target date retirement fund. i put in the max april 16 every year and dont think about it much. sometimes i look just to see how its going. im at 8.2% roi and opened it about 4 years ago

Forget Roths, MMs, MFs etc. Put all you have on this stock. Ticker MVIS. You'll be rich in 2 years. mark my words

Ghost of Igloi wrote:

I am concise,

The Dow was at 17,888 on 11/4/2016. So if you think you have anything more than paper gains think again.

Igy

And when the market goes down you'll have nothing more than paper losses. That is until it goes up again as it inevitably will.

Hmmm....maybe I should take his advice and sell my shares of Birkshere? I've done pretty good on it. I suppose I shouldn't be greedy....🤔

Ghost of Igloi wrote:

Idbouga wrote:

What's even more impressive is that a guy who manages $130 million can be bothered to buy a little old lady some CDs. Sounds like a slow day at the office.

I wonder how you and your clones behaved back in 2008-2009. I suppose if you had investments you were in a corner shaking. Hopefully you will experience some bad markets before you put your CFA to work.

I can tell you how I acted. I calmly sat back, rode the storm out, and watched my positions recover and then hit new heights.

You shouldn't be in this business if that scares you.

Ghost of Igloi wrote:

werster wrote:

Wow. Your reply does absolutely nothing to counteract the other post.

Wow yourself. The point is helping someone regardless of need. You don't want that answer because you are the troll. Besides I am a CFP and have been for over a decade, required to act in best interest of client well before Fiduciary Rule existed.

Required to act as a fiduciary apparently if you didn't work for Morgan Stanley.

How can you morally work for a company that actively circumvents rules made in the best interest of the investor?

Ghost - honest question.

Since you are an advocate of market timing, are you rich based on your own personal history of timing the market?

Come on, that is not an honest question.

He manages $130 million. Probably charges 1-2% of assets, so makes $130,000 - $260,000 of other people's money each year. Money that could be working for them in the market.

Ghost, please answer this question for me. I'd be willing to give you my entire portfolio to manage under these conditions.

I am currently in a 65% stock/35% bond portfolio. So the benchmark you need to beat, after all your costs, are whatever the Vanguard total market and total bond funds accomplish within this mix.

If you manage my money and fail to beat this benchmark, you need to pay me back to bring it up to the index. If you beat the index, I will give you 90% of whatever you beat it by as a commission.

So, I am guaranteed to always at least hit the index, and will do a bit better if you are any good. You should make a killing if you consistently can beat the index.

I don't think you can find a single financial adviser that will take this bet. That should tell you all you need to know about the value of indexing and just riding the market out for long-term investing.

Detector Dude wrote:

Come on, that is not an honest question.

Yes it is. If he tells me that he can time the market, and he can do it consistently, and he's willing to put his own money where his mouth is, and in doing all of this he's made himself a rich man, then I'm on board. That would convince me. I'm convinced by results.

But if he's not rich, it either means:

- he can't time the market

- he can't do it consistently (which is the same thing)

- he's not willing to wager with his own money (so why should we trust him?)

That would basically invalidate his argument.

Now, perhaps you will say - "Being rich is not the only measure of success. He just needs to consistently beat the market, not necessarily to blow the market out of the water." I'd be willing to listen to that argument. Ghost, did you time the Great Recession correctly? Did you take your money out at the top, then put it back in at the bottom? Did you correctly bet on Citigroup when it was selling for pennies on the dollar? Give us your success stories that prove we should listen to you.

Because I do put my money where my mouth is with index investing. I don't try to beat the market but I've enjoyed nice market returns for years.

That's a heck of an offer for someone claiming he can time the market. Ghost?

Funnily enough, you and your clones make me the subject rather than the OP. It is much easier to distort my position and who I am. Rather weak and pointless arguments coming from your side.