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View Poll Results: Are you a William Bernstein follower?
I've read all his books and invest 100% the Bernstein way 5 4.81%
Read some of the books or synopsis and it strongly influenced my investing 36 34.62%
Read some of his theories and was moderately influenced 17 16.35%
Read some of the theories and was minorly influenced 8 7.69%
Havent read anything, dont agree with, or wasnt influenced by his theories 38 36.54%
Voters: 104. You may not vote on this poll

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Old 04-08-2008, 08:32 PM   #21
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So who was wearing their wives underwear!
"I see nothing." Who was that German guy?
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Old 04-08-2008, 08:32 PM   #22
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I liked that you were wrong a bit more.
What's the deal between Cute Fuzzy Bunny and Twaddle? They seem to go at it a lot. Is there some history here? :confused:
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Old 04-08-2008, 08:34 PM   #23
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"I see nothing." Who was that German guy?
Sergeant Schultz, I think. Hogan's Heroes.
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Old 04-08-2008, 08:45 PM   #24
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Sergeant Schultz, I think. Hogan's Heroes.
I recall reading that Sergeant Schultz was loosely based on an actual non-NAZI POW guard who let the POWs get away with as much as possible.
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Old 04-08-2008, 08:47 PM   #25
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What's the deal between Cute Fuzzy Bunny and Twaddle? They seem to go at it a lot. Is there some history here? :confused:
It's our retirement joint venture. There used to be other partners, but they've been banned lost interest. We're always looking for new blood -- join us.
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Old 04-08-2008, 08:49 PM   #26
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It's our retirement joint venture. There used to be other partners, but they've been banned lost interest. We're always looking for new blood -- join us.
I just watched Barbarians at the Gate. I don't want to go there!
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Old 04-08-2008, 08:53 PM   #27
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I think a lot of what Bernstein had to say was reasonably well advised to consider, and he had a lot of good data. It changed a few things about how I invest. But I'm open to new approaches that have a reasonable risk/return ratio and are well thought out.
I've read everything that Bernstein has on his website and in his books. (I'm the other guy who's read "The Intelligent Asset Allocator".) I agree with a lot of it, especially his "Retirement Calculator from Hell" series, but he lost a lot of points with me when he dissed the concept of ER.

I also think that his efficient frontier analysis should include more of a discussion on dealing with volatility by including cash in the AA instead of bonds.

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I'm not much for get rich quick schemes flogged by bloggers and fund company/newsletter marketeers though.
To be fair, the NoLoadFundX guys and many other momentum investors have found a way to make it work. But it's too much work for me, especially when it comes to filling out Schedule D.

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What's the deal between Cute Fuzzy Bunny and Twaddle? They seem to go at it a lot. Is there some history here? :confused:
Yup. See also "Wab".
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Old 04-08-2008, 08:58 PM   #28
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Ok guys - I don't wanna be left out:

can I have pancake/stack? Pretty please.

Can I.

Ah yes shades of the good old days.

heh heh heh - I used my own definition of moderately influenced.
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Old 04-08-2008, 09:08 PM   #29
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Sorry, UM, CFB ate all the pancakes. And the bacon. All I have left is a stale donut.

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Old 04-08-2008, 09:26 PM   #30
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Let me warm that back up for ya...

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Old 04-08-2008, 10:44 PM   #31
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Have read only Four Pillars, plus most of his web articles. Don't follow anyone; I like to learn from my mistakes...
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Old 04-09-2008, 02:52 AM   #32
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I read the Four Pillars and the book makes alot of sense to me. I am kind of nervous because the only thing I really know about investing is that no one system is perfect. Are there any good recent book-length critiques of the Boglehead/Bernstein style of investing?
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Old 04-09-2008, 03:29 AM   #33
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I have read some of his stuff... things available on the internet.


I am going to go to the library and get one of his books. Which one should I begin with? 4 Pillars??
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Old 04-09-2008, 07:20 AM   #34
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I have read some of his stuff... things available on the internet.


I am going to go to the library and get one of his books. Which one should I begin with? 4 Pillars??
Sure, why not? But beware - - it is NOT riveting, fast paced, fascinating reading. It is OK but in some portions it can seem a little tedious. But if you are not on board when you begin reading it, you will be by the time you finish.
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Old 04-09-2008, 09:18 AM   #35
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You could just sit in a sensory deprivation tank for 4 hours and then read my book report on it

The 4 pillars, like TMND and many other books of this ilk written by a team of phd's, likes to use the standard phd method of approach: pound you with endless streams of data for hours and hours before coming to their inevitable conclusion, which you would likely have understood and bought into without the relentless case making.

I found myself reading the entire first half, then skipping to the chapter summaries for the rest and then back reading into the chapter if I didnt get something or wanted to see a bit of the data.

My prior opinion still stands on this or any other rear view tested strategy...most of it happened before the internet and people being able to run their own investments from their screen at home and everyone having immediate access to 8 brazillion feeds of information along with being able to buy formerly esoteric asset classes by making a free trade of an ETF. I think it all makes the market more transparent, more fluid, and faster responding...all for good and for bad. It may also rob some of the higher returning asset classes by making them more liquid and more available to inexperienced investors.

So asset allocation is important. Not being stupid with investments you dont understand is important. But I wouldnt bet my bacon on a portfolio consisting of half small cap value and half commodities...
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Old 04-09-2008, 10:25 AM   #36
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You could just sit in a sensory deprivation tank for 4 hours and then read my book report on it

The 4 pillars, like TMND and many other books of this ilk written by a team of phd's, likes to use the standard phd method of approach: pound you with endless streams of data for hours and hours before coming to their inevitable conclusion, which you would likely have understood and bought into without the relentless case making.
This is a better description of the book than mine. It would probably be a great book for someone who was absolutely sold on financing his retirement by means of day trading penny stocks or betting on the horses. But most of us are already at least partly sold before we even open the book. It did clarify and solidify some of what I was already thinking.

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I found myself reading the entire first half, then skipping to the chapter summaries for the rest and then back reading into the chapter if I didnt get something or wanted to see a bit of the data.
The first time I read it I probably read half the pages, and the other half I flipped while muttering, "yeah, yeah, yeah" under my breath. The second time I forced myself to read almost all of it and it was painful.

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But I wouldnt bet my bacon on a portfolio consisting of half small cap value and half commodities...
Yikes! Now there's a portfolio.
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Old 04-09-2008, 10:28 AM   #37
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IIRC, thats the one that someone came up with that had the highest total long term returns and were the most uncorrelated from each other.

Wee bit of volatility though.
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Old 04-09-2008, 10:32 AM   #38
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IIRC, thats the one that someone came up with that had the highest total long term returns and were the most uncorrelated from each other.

Wee bit of volatility though.
Sounds like condemning oneself to eternal fire and brimstone.

Sort of like serving a casserole for dinner that is 50% salt and 50% pepper.

It might be nice to have some of these asset classes, just to season things, but they will never be my main course (so to speak).
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Old 04-09-2008, 12:47 PM   #39
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I read the Four Pillars and the book makes alot of sense to me. I am kind of nervous because the only thing I really know about investing is that no one system is perfect. Are there any good recent book-length critiques of the Boglehead/Bernstein style of investing?
So true but don't fall into the trap of seeking the "perfect plan". Only in hindsight will that be apparent and will depend alot on what you define as "perfect". Given that the poll is running about 60:40 for those that use a Bernstein approach (including me) if that fails you will have lots of company here to commiserate with

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Old 04-09-2008, 03:29 PM   #40
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The local library didn't have a paper copy, but they did have a downloadable audio verison of 4 pillars.

So I listened to it while reading the internet. It was frustrating because of course you can't see all the charts and graphs that I am sure were present in the book.
I actually enjoyed read Siegals Stocks for the Long Run ok I am weird.
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