I watched a bit and then got bored. I don't have a financial adviser and my eyes glaze over when I hear the same old cr*p from dudes in suits. ER to my mind is pretty simple and I've done ok through the downturn by sticking to my plan.
I'm 50/50 bonds/stocks, in index funds across the sectors. I dollar cost average and balance whenever that allocation gets off by 10% (ie at 45/55 or 55/45). I invest 40% of my gross salary and have a rental property to provide more diversity and income. I'm 49 and one year from ER.
...He also said that while the U.S. has been in a recession, Asia has not and has been thriving throughout the economic downturn. That is interesting because I didn't really notice my international funds bounding forward during the 2008-2009 crashes. Hmm. Oh well, if they did then that was corrected during rebalancing as well.
I have no idea of Winters' track record as a fund manager, but for some reason after watching and listening to him, I am not impressed (and a little repulsed). I only listened to about half the video and I am inspired to go take a shower.
Winters' premise is that there has been a rush away from stocks and towards bonds, and therefore this is a wonderful time to buy stocks and we should all run out and buy stocks. It seems to me that I don't have to evaluate whether this is correct or not, because rebalancing takes care of any such imbalances for me.
He also said that while the U.S. has been in a recession, Asia has not and has been thriving throughout the economic downturn. That is interesting because I didn't really notice my international funds bounding forward during the 2008-2009 crashes. Hmm. Oh well, if they did then that was corrected during rebalancing as well.
I have no idea of Winters' track record as a fund manager, but for some reason after watching and listening to him, I am not impressed (and a little repulsed). I only listened to about half the video and I am inspired to go take a shower.
Anyone with Boglehead-ish tendencies doesn't really have to listen to this video, it seems to me. Buying low cost index funds and rebalancing to ones pre-defined asset allocation seems to work without running out and buying huge amounts of the stock du jour (such as that energy company he recommended while stressing that it was run by a woman and undervalued).
I found him boring on Wealthtrack, and I don't know if he's right or wrong. What I do know is that his fund charges 1.94% per year for expense fees. Too rich for me. I do use actively traded funds, but they have much lower expense ratios.
So if one found some WGRNX in his portfolio (not me) and wanted to replace it with a Vanguard index fund (or even a Vanguard managed fund), can anyone suggest a good candidate? Bonus points: explain how you made the choice.
Edit to add: I guess it wouldn't have to be Vanguard.
It amazes me that there are still people willing to pay large fees to fund managers. Almost all of my Vanguard funds are now charging 0.07% fee.
Vanguard Emerging Markets Index Fund: VEMAX
It seems to be what he is suggesting in the video, but what he doesn't quite have the guts to do in his own fund.