c*****e
发帖数: 314 | 1 本人MF新手，去年底买了这几支vanguard的MF：
Vanguard Equity-Income Inv 20%
Vanguard Interm-Term Bond Index Inv 20%
Vanguard Wellington Inv 20%
Vanguard Mid Cap Index Inv 20%
Vanguard International Growth Inv 20%
因为手头闲钱不急用，组合比较aggressive，最近大盘涨的好，目前为止return大概有
6%。
个人觉得问题之一是wellington因为是balanced，和Interm-Term bond index 与
Equity-income是不是有些重复，但因为关注wellington比较久，还是买下了。主要有
以下2个问题，劳烦各位前辈朋友们帮忙看看：
1.针对当前经济形势，这个portfolio有什么问题？还可以更加diversified吗？金银？
REIT？
2.Rebalance的话是不是要等到一年以后？好像一年内卖MF的话税很高，35%的样子，一
年后是15%。
没有描述清楚的地方还请大家包含：－）
感谢大家：－） |
S**C
发帖数: 2964 | 2 For new investors, hybrid fund such as VWELX may be the best option. But
then again, in many/most cases, one need to shoot his feet to really get a
chance to learn.
【在 c*****e 的大作中提到】
: 本人MF新手，去年底买了这几支vanguard的MF：
: Vanguard Equity-Income Inv 20%
: Vanguard Interm-Term Bond Index Inv 20%
: Vanguard Wellington Inv 20%
: Vanguard Mid Cap Index Inv 20%
: Vanguard International Growth Inv 20%
: 因为手头闲钱不急用，组合比较aggressive，最近大盘涨的好，目前为止return大概有
: 6%。
: 个人觉得问题之一是wellington因为是balanced，和Interm-Term bond index 与
: Equity-income是不是有些重复，但因为关注wellington比较久，还是买下了。主要有
|
j****y
发帖数: 1714 | 3 You have not mentioned if your funds are in 40lk or taxable accounts.
Mostly your portfolio is fine, but it is better to have US total stock index
or S&P 500 index.
Vanguard Equity-Income Inv is not really a US stock index fund.
Semi-annual or annual rebalance should be generally the same in 401k/IRA
accounts. There are studies confirming this. |
c*****e
发帖数: 314 | 4 Thank you for your comment. My funds are in taxable accounts. I am a
graduate student. So I guess I should rebalance at least after a year to
avoid tax?
I just checked Vanguard Equity-Income in morningstar again, it is a active
managed MF that invest 90% in US stocks, especially large value and growth,
and it is category in morningstar is large value. The reason I pick it is
because it outperform morningstar larger value index and S&P 500 index
durning the past 5,10 and 15 years.Does this make sense? Please let me know:
-)
Btw, could you please let me know why I should have US total stock index or
S&P 500 index in my portfolio?
index
【在 j****y 的大作中提到】
: You have not mentioned if your funds are in 40lk or taxable accounts.
: Mostly your portfolio is fine, but it is better to have US total stock index
: or S&P 500 index.
: Vanguard Equity-Income Inv is not really a US stock index fund.
: Semi-annual or annual rebalance should be generally the same in 401k/IRA
: accounts. There are studies confirming this.
|
c*****e
发帖数: 314 | 5 Thank you for you advice. Could you plz make it more clear? Are you saying I
should only have hybrid funds in my portfolio?
【在 S**C 的大作中提到】
: For new investors, hybrid fund such as VWELX may be the best option. But
: then again, in many/most cases, one need to shoot his feet to really get a
: chance to learn.
|
S**C
发帖数: 2964 | 6 Hybrid funds tend to have the "right" temperament for most investors, they
tend to be not too hot, not too cold, and the investors tend not to look for
their "problematic" child(ren) in their portfolio, which could easily lead
to selling low and buying high.
There is a reason why investors return is lower than the fund return,
especially for those high volatility funds.
If you think you have the mental fortitude to stick with your plan, then you
may not need to have hybrid funds, but ask yourself first, do you really
have that mental fortitude? Did you stick with your plan from 3Q 2008 to
early 2009? How about last summer? How about two months ago and now?
I
【在 c*****e 的大作中提到】
: Thank you for you advice. Could you plz make it more clear? Are you saying I
: should only have hybrid funds in my portfolio?
|
c*****e
发帖数: 314 | 7 I got you this time:-) Thank you for your advice:-)
Well, i am confident with my mental fortitude. The reason I buy MF is I am
not expecting to be rich in one night. I am aiming for the long term. When
the markets crash, it is the good time for dollar cost average.
for
lead
you
【在 S**C 的大作中提到】
: Hybrid funds tend to have the "right" temperament for most investors, they
: tend to be not too hot, not too cold, and the investors tend not to look for
: their "problematic" child(ren) in their portfolio, which could easily lead
: to selling low and buying high.
: There is a reason why investors return is lower than the fund return,
: especially for those high volatility funds.
: If you think you have the mental fortitude to stick with your plan, then you
: may not need to have hybrid funds, but ask yourself first, do you really
: have that mental fortitude? Did you stick with your plan from 3Q 2008 to
: early 2009? How about last summer? How about two months ago and now?
|
c*****e
发帖数: 314 | |
s*********0
发帖数: 2045 | 9 学生的话总的allocation对你口味就行，我只说一点：你这第三个和第一个都是很高
turnover的，40%甚至更高，动不动就给你发一个short term gain distribution，即
使你一年不卖也要交35%，所以比较适合退休帐号里用。你要是换成passive一点的bond
fund要好一点，不过也好得不多就是了。Bond fund也最好放在退休帐号里。你开Roth
了吗？
【在 c*****e 的大作中提到】
: 本人MF新手，去年底买了这几支vanguard的MF：
: Vanguard Equity-Income Inv 20%
: Vanguard Interm-Term Bond Index Inv 20%
: Vanguard Wellington Inv 20%
: Vanguard Mid Cap Index Inv 20%
: Vanguard International Growth Inv 20%
: 因为手头闲钱不急用，组合比较aggressive，最近大盘涨的好，目前为止return大概有
: 6%。
: 个人觉得问题之一是wellington因为是balanced，和Interm-Term bond index 与
: Equity-income是不是有些重复，但因为关注wellington比较久，还是买下了。主要有
|
c*****e
发帖数: 314 | 10 你好，谢谢建议：－）
我没有开Roth。我不太懂Roth是什么，只有工作才能开吗Roth吗？我现在就是phd。
我查了一下，那2个的MF的turnover确实比较高，我去年底买MF的时候就是想加一个
large-cap的MF，就买了Equity－income，印象中好像是过去的performance比较好。现
在看来好像不太符合我的思路，我不在乎短期稳定的income，只在乎长期收益，但
equity－income有很多income和gain distribution。
话说一年内的gain distribution和income也是按35％交税吗？以前还没有意识到这个。
bond
Roth
【在 s*********0 的大作中提到】
: 学生的话总的allocation对你口味就行，我只说一点：你这第三个和第一个都是很高
: turnover的，40%甚至更高，动不动就给你发一个short term gain distribution，即
: 使你一年不卖也要交35%，所以比较适合退休帐号里用。你要是换成passive一点的bond
: fund要好一点，不过也好得不多就是了。Bond fund也最好放在退休帐号里。你开Roth
: 了吗？
|
|
|
s*********0
发帖数: 2045 | 11 那还等什么？去开个Roth IRA放2X$5,000进去就好了，正好装你的income fund。18岁
以上就能开。
个。
【在 c*****e 的大作中提到】
: 你好，谢谢建议：－）
: 我没有开Roth。我不太懂Roth是什么，只有工作才能开吗Roth吗？我现在就是phd。
: 我查了一下，那2个的MF的turnover确实比较高，我去年底买MF的时候就是想加一个
: large-cap的MF，就买了Equity－income，印象中好像是过去的performance比较好。现
: 在看来好像不太符合我的思路，我不在乎短期稳定的income，只在乎长期收益，但
: equity－income有很多income和gain distribution。
: 话说一年内的gain distribution和income也是按35％交税吗？以前还没有意识到这个。
:
: bond
: Roth
|
S**C
发帖数: 2964 | 12 VWELX as core, use VGTSX or VFWIX to add international exposure (VG has no good active foreign funds), use VBMFX to get desired bond allocation if needed, use VEIPX, VDIGX or VDAIX/VIG to reach desired US allocation. They all invested in strong large-cap US multinationals. US Mid/Small Caps are richly valued, not a good place to be longer term (7-10 years), may be good as a trade.
Complicated? Then use VIG/VEU/BND to cover US/Foreign/Bond, use VBR for your play money.
A large portion of cash is warranted given the current ever-changing EU can-kicking landscape.
【在 c*****e 的大作中提到】
: 请大家多提提意见：－）
|
S**C
发帖数: 2964 | 13 VEIPX turnover ratio ~30%, not bad and VWELX? It has 40% in bonds, of course
turnover will be higher, they cannot hold bond forever. 35% STCap unless
you are in the top tax bracket.
bond
Roth
【在 s*********0 的大作中提到】
: 学生的话总的allocation对你口味就行，我只说一点：你这第三个和第一个都是很高
: turnover的，40%甚至更高，动不动就给你发一个short term gain distribution，即
: 使你一年不卖也要交35%，所以比较适合退休帐号里用。你要是换成passive一点的bond
: fund要好一点，不过也好得不多就是了。Bond fund也最好放在退休帐号里。你开Roth
: 了吗？
|
c*****e
发帖数: 314 | 14 那个traditional IRA和Roth IRA有什么区别啊？看不明白。。。
还有开了Roth IRA什么时候取钱，取多少有限制吗？
【在 s*********0 的大作中提到】
: 那还等什么？去开个Roth IRA放2X$5,000进去就好了，正好装你的income fund。18岁
: 以上就能开。
:
: 个。
|
c*****e
发帖数: 314 | 15 恩，谢谢，明白了，可为什么Mid/small Caps不适合长期投资呢？
good active foreign funds), use VBMFX to get desired bond allocation if
needed, use VEIPX, VDIGX or VDAIX/VIG to reach desired US allocation. They
all invested in strong large-cap US multinationals. US Mid/Small Caps are
richly valued, not a good place to be longer term (7-10 years), may be good
as a trade.
your play money.
can-kicking landscape.
【在 S**C 的大作中提到】
: VWELX as core, use VGTSX or VFWIX to add international exposure (VG has no good active foreign funds), use VBMFX to get desired bond allocation if needed, use VEIPX, VDIGX or VDAIX/VIG to reach desired US allocation. They all invested in strong large-cap US multinationals. US Mid/Small Caps are richly valued, not a good place to be longer term (7-10 years), may be good as a trade.
: Complicated? Then use VIG/VEU/BND to cover US/Foreign/Bond, use VBR for your play money.
: A large portion of cash is warranted given the current ever-changing EU can-kicking landscape.
|
S**C
发帖数: 2964 | 16 Because currently they are expensive. US small cap now probably is the most
expensive asset class, your future return depends on how much you paid for a
given asset.
good
【在 c*****e 的大作中提到】
: 恩，谢谢，明白了，可为什么Mid/small Caps不适合长期投资呢？
:
: good active foreign funds), use VBMFX to get desired bond allocation if
: needed, use VEIPX, VDIGX or VDAIX/VIG to reach desired US allocation. They
: all invested in strong large-cap US multinationals. US Mid/Small Caps are
: richly valued, not a good place to be longer term (7-10 years), may be good
: as a trade.
: your play money.
: can-kicking landscape.
|
c*****e
发帖数: 314 | 17 是怎么看出来small cap expensive呢？NAV？P/E? 能不能展开说一下：－）谢谢：－）
most
a
【在 S**C 的大作中提到】
: Because currently they are expensive. US small cap now probably is the most
: expensive asset class, your future return depends on how much you paid for a
: given asset.
:
: good
|
c*****e
发帖数: 314 | |
K***H
发帖数: 999 | 19 请问这个税是你卖的时候收么？
相当于fee一样？
还是退税的时候收？
本人MF新手，去年底买了这几支vanguard的MF：
Vanguard Equity-Income Inv 20%
Vanguard Interm-Term Bond Index Inv 20%
Vanguard Wellington Inv 20%
Vanguard Mid Cap Index Inv 20%
Vanguard International Growth Inv 20%
因为手头闲钱不急用，组合比较aggressive，最近大盘涨的好，目前为止return大概有
6%。
个人觉得问题之一是wellington因为是balanced，和Interm-Term bond index 与
Equity-income是不是有些重复，但因为关注wellington比较久，还是买下了。主要有
以下2个问题，劳烦各位前辈朋友们帮忙看看：
1.针对当前经济形势，这个portfolio有什么问题？还可以更加diversified吗？金银？
REIT？
2.Rebalance的话是不是要等到一年以后？好像一年内卖MF的话税很高，35%的样子，一
年后是15%。
没有描述清楚的地方还请大家包含：－）
感谢大家：－）
【在 c*****e 的大作中提到】
: 本人MF新手，去年底买了这几支vanguard的MF：
: Vanguard Equity-Income Inv 20%
: Vanguard Interm-Term Bond Index Inv 20%
: Vanguard Wellington Inv 20%
: Vanguard Mid Cap Index Inv 20%
: Vanguard International Growth Inv 20%
: 因为手头闲钱不急用，组合比较aggressive，最近大盘涨的好，目前为止return大概有
: 6%。
: 个人觉得问题之一是wellington因为是balanced，和Interm-Term bond index 与
: Equity-income是不是有些重复，但因为关注wellington比较久，还是买下了。主要有
|
c*****e
发帖数: 314 | 20 应该是退税的时候
吧。【 在 KOATH (KOATH) 的大作中提到: 】 |
