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Old 04-10-2010, 11:12 PM   #21
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Originally Posted by Rustward View Post
Who is they? The fund manager, or the planner charging the 1% fee, or somebody else?
Planner charging fee....

But it also goes to the fund manager... everybody is gung-ho when they are making money.... but when they are losing it at 1.X the rate because of the higher risk... then they cry about how bad the manager is... but it was the risk level they took on....

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Old 09-03-2010, 06:04 AM   #22
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Hi, I just joined the forum and came across this discussion. I've followed a philosophy of diy management using only indexed funds for years. My decision was reinforced by reading John Bogle's "The Little Book of Common Sense Investing". It pretty compelling. If anyone has read it and disagrees with its conclusions, what's the data that causes you to disagree?

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Old 09-03-2010, 06:16 AM   #23
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Originally Posted by clifp View Post
I think an important thing to keep in mind is these are obviously great returns coming as they did right after a badly oversold market due to the great recession.

Now hopefully we will live in in less interesting investing times in the future. While it probably statistically insignificant the difference between the worst 47.6% and 51.8% i.e. 4.2%. If we have a period of more average stock market returns of say 8% that 4.2% is a big deal and even the .7% difference between Vanguard and Fidelity is probably 10% decrease in your spending power.
Except you get regression to the mean. Past results are no guarantee of future performance
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Old 09-04-2010, 10:56 AM   #24
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You may eventually decide, as I did, that you are quite capable of losing your money on your own without paying someone to help you do so.

Incidentally, since I made that decision, I have been very happy with the results. You have to be tough enough to understand that things will go down periodically and that for the foreseeable future returns over the long run will be on the average no more than about 6% (Warren Buffett says) unless you are REALLY lucky. Historically, I gather that over the really long-term, total returns have been 11 to 11.5%, but we may not live long enough to see that come back. I figure that returns above 6 or 7% are not sustainable and expect downdrafts later (reversion to the mean). I was getting over 19% per annum for several years. Then the pot shrank 44% in 2008. Ouch! Having said that, I am now down only about 25% from the peak two years ago. (That makes +34% since Feb '09.) You have to have a strong stomach and be very comfortable with your asset allocations.
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Old 09-04-2010, 03:43 PM   #25
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I once was a knucklehead too. ML took me for a bundle. Now I'm VG all the way, have been for years. No remorse here.

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