Shhhhh...Wellington closes to new investors...

[NW-Bound]

I've lived through several 500 year floods in the last 50 years. Does that mean that I'm good for the rest of my life?

Just move to Texas. You will be in one heck of a drought which, if it continues, will set a new record.

 

[REWahoo]

Just move to Texas. You will be in one heck of a drought which, if it continues, will set a new record.

+1

We would welcome a flood.

I've been pumping water from our well to the new neighbors across the road. The water table dropped below the level of his pump two days ago and his submersible pump burned up. He'll find out when they try to pull it next week if he can get away with a new pump set to a lower level (~$5,000) or if his pump is fused in the well requiring he drill a new one (~$25,000).

They bought the place last month and are wondering why...

 

[MRG]

+1

We would welcome a flood.

I've been pumping water from our well to the new neighbors across the road. The water table dropped below the level of his pump two days ago and his submersible pump burned up. He'll find out when they try to pull it next week if he can get away with a new pump set to a lower level (~$5,000) or if his pump is fused in the well requiring he drill a new one (~$25,000).

They bought the place last month and are wondering why...

Ouch. My Sister is in Austin, I hear about what used to be Lake Travis. Hope you get water soon.

MRG

 

[foxfirev5]

Just move to Texas. You will be in one heck of a drought which, if it continues, will set a new record.

Yep, worked in farming for a few years no matter what there's always a problem - too much or too little. Then you get just enough rain , like everyone else, crop prices drop due to high production and you still can't win.

 

[NW-Bound]

We then do not need evacuated pipes to transport people. What is more pressing is pipes filled with water, in order to move it from places where we have too much to where we do not have enough. Not sexy, not high-tech, but more practical to me, an ex high-tech worker.

 

[REWahoo]

We then do not need evacuated pipes to transport people. What is more pressing is pipes filled with water, in order to move it from places where we have too much to where we do not have enough. Not sexy, not high-tech, but more practical to me, an ex high-tech worker.

+1

 

[NW-Bound]

Sorry about the ad. I couldn't find a clip without advertising.

Some random events do not depend on the past. A dice does not "remember" that it just showed a 6 on the last toss, hence is just as likely to show another 6 on the current toss. I believe those that involve human endeavors do carry a relationship to the more recent past. I am not an economist to know if anyone has looked into this, but as a layman, I think it is reasonable to expect that economic events such as real estate bubbles would be spaced out in time, and the frequency of repeats is a function of the collective human memory.

But then, people tend to have shorter and shorter memory these days. And if that presumption is true, then as they do not remember the past, they tend to repeat it at shorter intervals. How long until someone tries Marx's theory again?

Back on Garp and his home, the occurrence of a future hapless pilot would not have any relationship to the current one, so his thinking that the home has been "predisastered" would be false.

But if his home is in the approach path to an airport, then perhaps that accident might even be foretelling of more to come.

 

[chasesfish]

The next step for Wellington would be to close it to all new investors, including those buying through vanguard. The current restrictions hurt me because I hadn't added Wellington in my largest account, the self directed portion of my 401k. I can't move that either.

 

[bUU]

Hopefully they'll hold off until my rollover check makes it to Vanguard.

Does anyone know who long in advance they announce such closures?

 

[Gatordoc50]

I wonder if Wellington is the new Magellan.

 

[martyb]

guess a lot of baby boomer's are taking money out of the mattress with the economy doing better

You are kidding ? Where is the economy getting better? Not where I live unless you think $8.00 an hour jobs is progress. This baby boomer (1947) is still sticking with cash. I will stay as far away from the stock market as I can. Its just a matter of time before a correction and I think most know that. oldtrig

The market's treated me pretty well so far this year....index funds only.

 

[Major Tom]

Back on Garp and his home, the occurrence of a future hapless pilot would not have any relationship to the current one, so his thinking that the home has been "predisastered" would be false.

But if his home is in the approach path to an airport, then perhaps that accident might even be foretelling of more to come.

I posted that clip intending it as humor - which was the intention of that clip in the original movie. You do realize that I hope NW-Bound?

 

[NW-Bound]

Yes, I did. That scene was funny.

But at the same time, I tried to remind other readers that the "predisastered" logic can work in economic situations.

Immediately after the housing burst, people were so disheartened that they would not consider buying a home, even if they needed one, and could afford one, and the price was so right. I talked my daughter into it, and she bought her 1st home with the same monthly payment as she would pay for apartment rent. Her short-sales home was "predisastered". And it helped that we gave her essentially some inheritance money up-front with cash gift for the big down-payment.

PS. Just checked on Zillow. The estimate on her home is now almost 2.4X what she paid. Even though that is still below what the previous owner paid in 2008, I think it is too optimistic. However, other homes that are not as nice as hers are being listed for 2X what she paid. So, she is deep in the money.

PPS. If it weren't for the fact that we already had two homes, I would have bought with cash another home near my daughter's to save as a place for potential retirement downsizing. I could also flip that easily now 2.5 years after, for a tidy profit.

 

[Major Tom]

Yes, I did. That scene was funny.

I figured you probably did. Just checking - I should know you by now!

 

[ERD50]

OFF-TOPIC WELL PUMP NOTE:

+1

We would welcome a flood.

I've been pumping water from our well to the new neighbors across the road. The water table dropped below the level of his pump two days ago and his submersible pump burned up. He'll find out when they try to pull it next week if he can get away with a new pump set to a lower level (~$5,000) or if his pump is fused in the well requiring he drill a new one (~$25,000).

They bought the place last month and are wondering why...

I'd suggest a controller that shuts the pump off when it goes dry. IIRC, they are just a low-pressure switch with a time delay. If the pump is running and the pressure isn't increasing after a minute, it shuts down until you reset it.

Cheap insurance.

-ERD50

 

[REWahoo]

OFF-TOPIC WELL PUMP NOTE:

I'd suggest a controller that shuts the pump off when it goes dry. IIRC, they are just a low-pressure switch with a time delay. If the pump is running and the pressure isn't increasing after a minute, it shuts down until you reset it.

Cheap insurance.

I have one and with all the well problems in the area I strongly suggested to both the new neighbor and his spouse a couple of weeks ago that they have one installed - they didn't.

The device, known as a 'pump saver', measures the power used by the submersible pump in the well:

A proprietary microcontroller based voltage, power factor and current-sensing circuit constantly monitors for power fluctuations, overcurrent and underload conditions. When an abnormality, such as loss of suction, is detected, the PumpSaverPlus deactivates its output relay and directly disconnects the pump motor. The PumpSaver®Plus then begins its user-selectable “Restart Delay” (dry-well recovery) timer. When the timer expires or power is removed and reapplied, the PumpSaver®Plus reactivates its output relay and turns the pump back on.

FWIW, the pump saver monitors the submersible pump that fills my storage tank. I do have a controller that cuts off the above ground pressure pump if it senses a drop in pressure below 20 psi. The pump saver resets itself but this one has to be manually reset if it trips.

 

[ERD50]

I have one and with all the well problems in the area I strongly suggested to both the new neighbor and his spouse a couple of weeks ago that they have one installed - they didn't. ....

You can lead a horse to.... wait, not if your well has gone dry!

-ERD50

 

[karluk]

In my view Wellington is too much of a generic balanced fund (albeit one with a sterling reputation) to ever permanently close to all new investors. Vanguard says that the current restrictions are simply to slow $$ inflows, and I guess I believe them.

I've been a Wellington investor long enough to remember one other time when Vanguard put restrictions on new money. If memory serves, they temporarily closed it to all new investors and then rather quickly reopened it, but with a $10,000 minimum on investor class shares. I see that the minimum is now $3,000, so they must have eliminated the $10,000 minimum at some point when I wasn't paying attention.

 

[Gazingus]

The market's treated me pretty well so far this year....index funds only.

I tried getting into Wellington through Fidelity and it was indeed closed to me. So I bought Tesla Motors and Pandora Media instead.