REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Dude, put down the shovel...
That wasn't the point I was trying to make. Referring to them (or thinking of them) as "Jesus" , is obviously an extreme and unrealistic characterization. In the same way, so is referring to them as a nickel and dime store.
Just because most folks on here think VG walks on water, well, that still doesn't make them Jesus..............
It is quite simple really, makes perfect sense. Vanguard holds VERY LITTLE cash in reserve for redemptions. Since VG is a passive investment company, they want folks to invest and stay in the funds. Most fund managers keept 3-5% in cash for redemptions, VG is more like 1% or so. Just a different way of doing things......I got that from a VG manager who was at a meeting I went to, he was talking about their ETF portfolios, but was asked about it at a Q&A........
Would you believe Moses?
Dude, put down the shovel...
It is someone's opinion, they have the right to that, right? It is ok to be a fan of VG and an investor of VG, but folks should be a little less prickly, as even they make mistakes..........and piss people off, and don't do what they say, noone's perfect, not even VG.........
Dude, put down the shovel...
+1
Also, how seriously can you take a post in which the OP calls Vanguard "a nickel and dime store"?
Which MM fund is this? They have a number of alternatives, some of which are no longer open. If you were to change MM funds would the same restriction exist?13 months ago I rolled $90K into VG and they put it in the current MM fund which they said was my MM sweep acct. The next week I bought $20K each of GNMA, and 2 other funds, leaving $30K still in the MM fund.
So a total of 3 transactions in 13 months. All buys into their funds. Now I want to unload the GNMA before I have no gain and I cannot do it in 1 transaction.
I think 'Nickel and Dime' is an understatement considering they will let me take $20K from the fund 3 times, but will come up with stupid gimmicks to thwart my redemption. VG is OK, if you still follow buy and hold, i.e. ride em up and ride em down, but I take my finances a little more 'seriously' and prefer a positive return on my money.
Which MM fund is this? They have a number of alternatives, some of which are no longer open. If you were to change MM funds would the same restriction exist?
VG is OK, if you still follow buy and hold, i.e. ride em up and ride em down, but I take my finances a little more 'seriously' and prefer a positive return on my money.
Federal something. The first tier rep I talked too would not make a suggestion. I have not researched another selection but other members have said there are others with no restrictions.
Thanks to all who made suggestions and did the trial transaction on GNMA.
13 months ago I rolled $90K into VG and they put it in the current MM fund which they said was my MM sweep acct. The next week I bought $20K each of GNMA, and 2 other funds, leaving $30K still in the MM fund.
So a total of 3 transactions in 13 months. All buys into their funds. Now I want to unload the GNMA before I have no gain and I cannot do it in 1 transaction.
I think 'Nickel and Dime' is an understatement considering they will let me take $20K from the fund 3 times, but will come up with stupid gimmicks to thwart my redemption. VG is OK, if you still follow buy and hold, i.e. ride em up and ride em down, but I take my finances a little more 'seriously' and prefer a positive return on my money.
jayc, I think I see what you are talking about on my accounts. I have the VG Admiral Treasury MM fund and the VG Federal Money Market Fund. I tried buying more than $10,000 in each of these funds, and it does not allow me to do so, stating that there is a $10,000 purchase limit per fund per day.
The solution is to open the "VG Prime Money Market fund" and you can make unlimited purchases in that fund. It yields more than the other MM funds anyway (by a few basis points).
Another thing to point out, and something that took me a while to wrap my head around. Vanguard doesn't have a "sweep" account in their mutual fund accounts. There are only specific money market funds that are basically cash accounts. But you have to think of them as just another mutual fund in your account. When you sell something and put the proceeds into your cash account, you are actually "exchanging" shares of the fund you are selling for shares of the money market fund you are putting the sales proceeds into. It's a little complicated since it is different from how most other brokerage accounts do it.
This one (closed June 2, 2009)?
https://personal.vanguard.com/us/funds/snapshot?FundId=0033&FundIntExt=INT#hist=tab:3
You definitely want to find a different broker, VG rules will inhibit you from timing the market. They do it on purpose so I'm unclear why you invested with them in the first place.
DD