O*********9
发帖数: 48 | 1 在公司的401K里一般都有actively managed funds和指数基金. 有时还有针对
retirement年代的基金.请问大家通常是选择以下哪一个:
1)diversified actively managed funds based on asset allocation
2)指数基金组合
3)Target Retirement fund
或者是全都选.sorry I am a litle confused.
肯请版上大侠们解疑 |
d*****r
发帖数: 273 | 2 No matter which one you choose, choose the least expensive ones, ie, least
annual fees. See
http://www.mitbbs.com/article_t/Investment/31236733.html
If no other choices, I would choose index fund.
【在 O*********9 的大作中提到】
: 在公司的401K里一般都有actively managed funds和指数基金. 有时还有针对
: retirement年代的基金.请问大家通常是选择以下哪一个:
: 1)diversified actively managed funds based on asset allocation
: 2)指数基金组合
: 3)Target Retirement fund
: 或者是全都选.sorry I am a litle confused.
: 肯请版上大侠们解疑
|
b****n
发帖数: 993 | 3 一般而言别选actively managed funds。学术界对这个比较有共识，基本上长时间下来
，大部分这类基金不可能超过简单的指数基金。从统计的角度当然会有一些比指数好，问题是
你能不能恰好选中，这个和炒股没啥区别，很多时候看运气。另外这类基金通常收费不
菲，手续费的一点细微差别经过长期积累会导致巨大的差距。
指数基金有很多种，不同指数的表现也可以有很大差别。如果求稳妥，不想深入追究，
最简单的就是找一个收费低的s&p500指数基金。如果有兴趣研究，可以上网找到不同指
数的区别。
Target retirement fund，就我看过的，都相对保守，长期回报率不是很理想。如果离
退休还有20多年以上的，应该考虑加大股票的比例。
不管买什么，都要仔仔细细读它们的说明。
【在 O*********9 的大作中提到】
: 在公司的401K里一般都有actively managed funds和指数基金. 有时还有针对
: retirement年代的基金.请问大家通常是选择以下哪一个:
: 1)diversified actively managed funds based on asset allocation
: 2)指数基金组合
: 3)Target Retirement fund
: 或者是全都选.sorry I am a litle confused.
: 肯请版上大侠们解疑
|
O*********9
发帖数: 48 | 4 多谢楼上两位. 看来指数基金还是王道呀
还是有点担心进的时间会不会不对. S&P 500和2009年2月比还是挺高的了. 知道dollar
cost average会help,但还是hate loss right after purchase... |
X****r
发帖数: 3557 | 5 你是从零开始放而不是rollover吧？那开始那点钱能有多少。
总之对自己能把握大盘趋势没有信心的话就不要想着time the market，
闭着眼睛放就是了。
dollar
【在 O*********9 的大作中提到】
: 多谢楼上两位. 看来指数基金还是王道呀
: 还是有点担心进的时间会不会不对. S&P 500和2009年2月比还是挺高的了. 知道dollar
: cost average会help,但还是hate loss right after purchase...
|
b****n
发帖数: 993 | 6 Well, if you don't mind doing some extra homework, google "value averaging
investment strategy".
This book may be useful as well:
Value Averaging: The Safe and Easy Strategy for Higher Investment Returns.
Michael E. Edleson and William J. Bernstein
dollar
【在 O*********9 的大作中提到】
: 多谢楼上两位. 看来指数基金还是王道呀
: 还是有点担心进的时间会不会不对. S&P 500和2009年2月比还是挺高的了. 知道dollar
: cost average会help,但还是hate loss right after purchase...
|
S**C
发帖数: 2964 | 7 Without knowing your 401k funds lineup, it is impossible to make any
sensible recommendation.
【在 O*********9 的大作中提到】
: 在公司的401K里一般都有actively managed funds和指数基金. 有时还有针对
: retirement年代的基金.请问大家通常是选择以下哪一个:
: 1)diversified actively managed funds based on asset allocation
: 2)指数基金组合
: 3)Target Retirement fund
: 或者是全都选.sorry I am a litle confused.
: 肯请版上大侠们解疑
|
S**C
发帖数: 2964 | 8 Yeah, those academic studies... Well it just like I claim I can beat 80%
people in my town in a box match. Am I excellent at boxing? Nah, I just
count everyone in town, including women, babies and seniors.
，问题是
【在 b****n 的大作中提到】
: 一般而言别选actively managed funds。学术界对这个比较有共识，基本上长时间下来
: ，大部分这类基金不可能超过简单的指数基金。从统计的角度当然会有一些比指数好，问题是
: 你能不能恰好选中，这个和炒股没啥区别，很多时候看运气。另外这类基金通常收费不
: 菲，手续费的一点细微差别经过长期积累会导致巨大的差距。
: 指数基金有很多种，不同指数的表现也可以有很大差别。如果求稳妥，不想深入追究，
: 最简单的就是找一个收费低的s&p500指数基金。如果有兴趣研究，可以上网找到不同指
: 数的区别。
: Target retirement fund，就我看过的，都相对保守，长期回报率不是很理想。如果离
: 退休还有20多年以上的，应该考虑加大股票的比例。
: 不管买什么，都要仔仔细细读它们的说明。
|
l**********t
发帖数: 5754 | 9 Target Retirement Fund & regular contribution is your best default, unless
you know what you are doing.
【在 O*********9 的大作中提到】
: 在公司的401K里一般都有actively managed funds和指数基金. 有时还有针对
: retirement年代的基金.请问大家通常是选择以下哪一个:
: 1)diversified actively managed funds based on asset allocation
: 2)指数基金组合
: 3)Target Retirement fund
: 或者是全都选.sorry I am a litle confused.
: 肯请版上大侠们解疑
|
b****n
发帖数: 993 | 10 对大多数而言，管理退休基金的目的就是获得一个合理的回报，而不是想着靠退休金发
财，所以如果能够打败80%就很好了，没有必要成为一个优秀的投资者。对这些人而言
，学院派的研究还是有参考价值的。
学院派的研究还表明，20几年下来，市场上的跑赢大盘的基金还真不多，大概也就是20
%左右，不过剩下的那80%可也不是老弱病残：那个基金成立的时候不是雄心勃勃，认为
自己能够跑赢市场的？
还是那句话：如果求稳妥，就是指数，如果想跑赢大市，要不就祈祷自己有好运气，要
不就投入大量时间精力做研究，外加祈祷自己好运气。
【在 S**C 的大作中提到】
: Yeah, those academic studies... Well it just like I claim I can beat 80%
: people in my town in a box match. Am I excellent at boxing? Nah, I just
: count everyone in town, including women, babies and seniors.
:
: ，问题是
|
|
|
O*********9
发帖数: 48 | 11 This is the lineup. And BTW, I am not starting from scratch. I have been
invested in actively managed fund for 5 years and so far the result is very
disappointing. I made a mistake in 2008 to sell one fund when it shed off 1/2 of its value due to the overall market falloff.
Mutual Fund Inception Date Expense Ratio Style
Invesco Stable Value 07/31/87 0.11 Cash
BlackRock US Debt-T 10/01/01 0.08 Debt Index
PIMCO Total Return-Inst 05/11/87 0.47 Medium-term Debt
Vanguard Target Retirement Fund 2015 10/27/03 0.17
Vanguard Target Retirement Fund 2025 10/27/03 0.18
Vanguard Target Retirement Fund 2035 10/27/03 0.19
Vanguard Target Retirement Fund 2045 10/27/03 0.19
Eaton Vance Large Cap Value-V 08/15/05 0.6 Large Value
BlackRock S&P 500 Equity Index-C 03/15/10 0.03 Index (S&P 500)
American Funds Growth Fund of America-R6 05/01/09 0.34 Large Growth
BlackRock Extended Equity Market-K 01/03/94 0.12 Index (Dow Jones)
Eaton Vance Small Cap Core-V 12/31/10 0.9 Small Cap
BlackRock ACWI ex-US Index-C 01/04/10 0 International Index
Dodge & Cox International Stock 05/01/01 0.65 International Equity
Thornburg International Equity 10/08/09 0 International Equity
【在 S**C 的大作中提到】
: Without knowing your 401k funds lineup, it is impossible to make any
: sensible recommendation.
|
O*********9
发帖数: 48 | 12 不是从零开始. 是在考虑在新的一年应该如何操作.以前的收益非常差强人意.不知道是
不是自己犯了策略性错误. 钱不多但对我来说也不是一个很小的数目(差不多8万美刀).
请问有什么建议吗? 先谢了..
【在 X****r 的大作中提到】
: 你是从零开始放而不是rollover吧？那开始那点钱能有多少。
: 总之对自己能把握大盘趋势没有信心的话就不要想着time the market，
: 闭着眼睛放就是了。
:
: dollar
|
t*m
发帖数: 4414 | 13 过去5年大多数fund都不咋地，不必在意。
If in your shoes, I put 100% money into vanguard target funds
very
1/2 of its value due to the overall market falloff.
Jones)
Index
【在 O*********9 的大作中提到】
: This is the lineup. And BTW, I am not starting from scratch. I have been
: invested in actively managed fund for 5 years and so far the result is very
: disappointing. I made a mistake in 2008 to sell one fund when it shed off 1/2 of its value due to the overall market falloff.
: Mutual Fund Inception Date Expense Ratio Style
: Invesco Stable Value 07/31/87 0.11 Cash
: BlackRock US Debt-T 10/01/01 0.08 Debt Index
: PIMCO Total Return-Inst 05/11/87 0.47 Medium-term Debt
: Vanguard Target Retirement Fund 2015 10/27/03 0.17
: Vanguard Target Retirement Fund 2025 10/27/03 0.18
: Vanguard Target Retirement Fund 2035 10/27/03 0.19
|
S**C
发帖数: 2964 | 14 The lineup looks solid, very good I should say. It appears to me discipline
is the issue here. You said you sold one fund in 2008 when it was down 50%,
I am wondering how often you deviate from your predetermined AA, and how
much is it cost your return because of market timing.
very
1/2 of its value due to the overall market falloff.
【在 O*********9 的大作中提到】
: This is the lineup. And BTW, I am not starting from scratch. I have been
: invested in actively managed fund for 5 years and so far the result is very
: disappointing. I made a mistake in 2008 to sell one fund when it shed off 1/2 of its value due to the overall market falloff.
: Mutual Fund Inception Date Expense Ratio Style
: Invesco Stable Value 07/31/87 0.11 Cash
: BlackRock US Debt-T 10/01/01 0.08 Debt Index
: PIMCO Total Return-Inst 05/11/87 0.47 Medium-term Debt
: Vanguard Target Retirement Fund 2015 10/27/03 0.17
: Vanguard Target Retirement Fund 2025 10/27/03 0.18
: Vanguard Target Retirement Fund 2035 10/27/03 0.19
|
S**C
发帖数: 2964 | 15 I think that is a good recommendation. 50-50 split over Vanguard Target
Retirement 2015 and 2025 would give a 70-30 stock/bond ratio, which may be a
good mix for the OP, presumably he or she is about 30 years old.
【在 t*m 的大作中提到】
: 过去5年大多数fund都不咋地，不必在意。
: If in your shoes, I put 100% money into vanguard target funds
:
: very
: 1/2 of its value due to the overall market falloff.
: Jones)
: Index
|
O*********9
发帖数: 48 | 16 My current allocation is
40% S&P 500 Index,
20% Dow Jones Index,
20& International Index
8% Debt Index
2% Cash
8% DODFX
2% Company Stock
Can you please tell me what kind of difference it would be by investing in
target funds rather than actively managed fund if in case it give me same
kind of stock/bond ratio (I know it is now different from your
recommendation).
In addtion,if I am 30 years old, should I chose 2035 target fund to retire
at 65 so that my asset allocation should be around 80-20 stock/bond ratio
rather than 70-30 ratio. I am just wondering if I am too aggressive.
Thank you for all your responses!
Orlando
a
【在 S**C 的大作中提到】
: I think that is a good recommendation. 50-50 split over Vanguard Target
: Retirement 2015 and 2025 would give a 70-30 stock/bond ratio, which may be a
: good mix for the OP, presumably he or she is about 30 years old.
|
S**C
发帖数: 2964 | 17 I saw your post on M* forum so I know more about you. You have a plan, and
background to be a successful investor, and good earning power. I think you
should not be too concerned on not being able to amass 2M USD inflation
adjusted before retirement. IMO you do not need to be that aggressive to
reach your goal.
Our overall bond percentage roughly equals to our age, someone may recommend
age-10, we decided given the current valuation, and the EU sovereign debt,
we would rather be more conservative in the next 3-5 years. If EU explode
then I could be a little bit more aggressive.
The biggest advantage of the hybrid fund such as the target fund over a
mixture of MFs with similar overall allocation is, IMO, psychology. It helps
you to stay the course rather than jumping in and out of individual fund at
the wrong time. If you are disciplined, however, then there is no need for
such inflexible hybrid fund. I personally like go-anywhere allocation fund
such as SGIIX and IVWIX.
For your 401k lineup, I think PTTRX is good although it may be a little too
big, Dodge & Cox made inexcusable mistakes in 2008 and thanks god I had
never invested with them, Thornburg is very fine shop but Thornburg
International Equity seems to be a privately offering make it difficult to
judge. So all index portfolio in 401k looks good, or using PTTRX for bond
portion. Finally, you could take the best in your 401k plan and leave the
rest to your taxable and IRA, as long as the total allocation make sense to
you.
【在 O*********9 的大作中提到】
: My current allocation is
: 40% S&P 500 Index,
: 20% Dow Jones Index,
: 20& International Index
: 8% Debt Index
: 2% Cash
: 8% DODFX
: 2% Company Stock
: Can you please tell me what kind of difference it would be by investing in
: target funds rather than actively managed fund if in case it give me same
|
O*********9
发帖数: 48 | 18 "For your 401k lineup, I think PTTRX is good although it may be a little too
big, Dodge & Cox made inexcusable mistakes in 2008 and thanks god I had
never invested with them, Thornburg is very fine shop but Thornburg
International Equity seems to be a privately offering make it difficult to
judge. So all index portfolio in 401k looks good, or using PTTRX for bond
portion. Finally, you could take the best in your 401k plan and leave the
rest to your taxable and IRA, as long as the total allocation make sense to
you."
Too bad I have 45% allocation to Dodge & Cox since 2006. That might be why I
am underperforming for these years.
My current asset allocation is very out of line.
Mutual Fund Style Weight
PIMCO Total Return-Inst Medium-term Debt 0.09%
Vanguard Target Retirement Fund 2045 4.08%
Eaton Vance Large Cap Value-V Large Value 0.19%
BlackRock S&P 500 Equity Index-C Index (S&P 500) 4.35%
American Funds Growth Fund of America-R6 Large Growth 8.13%
Eaton Vance Small Cap Core-V Small Cap 27.70%
Dodge & Cox International Stock International 42.52%
Company Stock 12.94%
I have a long way to just get to my current ideal allocation of
40% S&P 500 Index,
20% Dow Jones Index,
20& International Index
8% Debt Index
2% Cash
8% DODFX
2% Company Stock |
c*****x
发帖数: 429 | 19 I don't believe the following two funds have zero expense ratios, especially
the second one. Check if there are any hidden charges.
BlackRock ACWI ex-US Index-C 01/04/10 0 International Index
Thornburg International Equity 10/08/09 0 International Equity
My suggestion will be the same as Tim's. Investment all in a suitable
Vanguard target date funds and be done with it, so that you can spend your
time on something more exciting than investment. |
O*********9
发帖数: 48 | 20
especially
Sorry it is 0.13 and 0.60, not zero.
If I decided to rebalance my current asset allocation (since it is so
ridiculous), should I tranfer one to another gradually or with an one time
deal, or via changing future contribution?
Appreciate any recommendation on this. Thanks!
【在 c*****x 的大作中提到】
: I don't believe the following two funds have zero expense ratios, especially
: the second one. Check if there are any hidden charges.
: BlackRock ACWI ex-US Index-C 01/04/10 0 International Index
: Thornburg International Equity 10/08/09 0 International Equity
: My suggestion will be the same as Tim's. Investment all in a suitable
: Vanguard target date funds and be done with it, so that you can spend your
: time on something more exciting than investment.
|
