[quote=flu]Lol phaster. You crack me up. On one hand you’re disputing the accuracy of all those stats provided by financial institutions about their returns and how it’s not the case…And on the other hand, you’re using some of these status from the same financial institutions about market timing.
Do you enjoy just googling shit and finding whatever sticks to your position. It’s even cute how you started to use the “boldface” type to highlight 1 or 2 lines out of an entire paragraph out of context and redirect you entire discussion on something else. How BG’ish….
Man, remind me never to hang out with folks like you. It’s not that I don’t value actual insight, positive or negative. I do. It’s just I don’t understand some of you that are so fixated with your beliefs that you can’t really think objectively in the only thing that matters…. “How can I make money?”
Warning: extreme mental states at either end of the spectrum can be hazardous to your financial health.[/quote]
glad you “Lol” last time I posted feedback about specifics, so guess I’ll continue and try to provide more laughs
WRT the… only thing that matters…. “How can I make money?”
sex trafficking??
selling drugs??
taking politically motivated bribes??
which are commonly reported methods of making “Mo’ Money”
BUT IMHO individuals engaging in such money making activity basically have thrown out any belief system that takes into account human costs and instead created an environment where an (un)civil society grows
then we should consider the reason we’re in this “economic” mess is because prior to the bursting of the bubble most everyone (RE agents, mortgage brokers, bankers, wanabe homeowners, etc.) only thought about “How can I make money?” w/out thinking what the knock on effects would be
few thought about the risk, and some that did and were able to buy “swaps” had a nice windfall
so FWIW I consider the restraints imposed by a “belief system” (like perhaps religion) that values honesty and human costs (i.e. empathy), as a small price to pay for a nudging towards a sustainable economy and civil society
WRT bearishgurl’s so-called “cute” posting style…
huh where to start,
well we know bearishgurl is a legend in her own mind
we also know she lacks the mental horsepower and a moral compass to backup the delusion of being a mild mannered super hero who fights for economic justice for oppressed Gubment-Pensioner(s) who did nothing to corrupt or mis-manage the system
so have to disagree I am not worthy of such a comparison (to BGs posting style) because I have yet to post something dumb enough to deserve snarky responses from Rich (our host)
yup big fan AND often there’s an aha moment, like when finding an older dedicated thread where other piggs note other mental processing problems w/ bearishgurl and a suggestion that she should clean up of her act
(guess that’s why the idiom, you can’t teach an old dog new tricks was invented in the first place, to describe people/situations like bearishgurl…)
[/quote]
actually given “frequency” of posts on this site you share much more in common w/ BG than I do, given you two seem to be more regular, regulars (i.e. very active long term users)… and IMHO FWIW the posts contain lots of “noise” and very little “signal”; on the other hand I just drop in every once in a while to see what piggs mostly think about the economy and try to contribute insights supported by data that others might have missed (SEE existing website slogan at bottom of page,… In God we trust. Everyone Else Bring Data!)
WRT the… Warning: extreme mental states at either end of the spectrum can be hazardous to your financial health.
thanks for the concern/warning, but see no need to enter a pissing contest comparing personal financial statements AND past “PERSONAL” PORTFOLIO PERFORMANCE as a way to perhaps score some meaningless ideological points
[quote=money.usnews.com] How mutual fund firms use past performance to distract investors.
Mutual fund companies tout past performance for one reason: It works, even though the relationship between past and future returns is highly problematic. One 2002 National Bureau of Economic Reserach study, “Mutual fund flows and Performance in Irrational Markets,” found that the “relative performance of mutual fund managers appears to be largely unpredictable using past relative performance.”
while i’m at it want to disclose the fact that I’ve never been all in or all out of the market (YET AGAIN), also thought I’d mention I’ve achieved and maintained a better than average “financial health” which I can easily prove to any CPA or mortgage broker if needed
therefore the statement you so graciously shared is not applicable BUT would say looking at it another way there is an unwritten kernel of truth to it,… perhaps even a corollary,… because I’ve managed to achieve and maintain a better than average “financial health” using a disciplined value investment “money management” approach (i.e. benjamin graham school of investing)
speaking of “money management” here’s one bit of recent financial news that seems relevant (AND not in a good way)
[quote=sacbee.com]
CalPERS earned less than 1% in fiscal year
CalPERS reported a 0.61 percent gain in investments in its latest fiscal year, the second straight year of subpar results for the big California pension fund.
…The latest results come on top of a gain of just 2.4 percent in the previous fiscal year. Both results are well below CalPERS’ official annual target of 7.5 percent.
this data point along w/ other observations of market players…
[quote=livinincali][quote=henrysd]I have owned Vanguard long term CA muni bond fund since 2009. The fund is so called long term, but it is actually in high spectrum of intermediate term bond fund as the average duration is only 6.4 years. There were many good times to buy it like any time from 2009-2012. The best time was when “star analyst” Whitney called for massive default in muni bond which never happened. True star manager like Bill Gross added massive position in muni bond after Whitney made the call which causeed big selloff in muni bond. My entry point was about 4% YTM and with the yield down to 1.8% now, there is significant risk of losing value when interest goes up. I personally feel it is too late to jump into the boat. Be careful when tempted to the 1.8% yield using bank saving rate as reference.
I am still holding the position, and if Fed raise fed fund rate to 1% (likely in 3 baby steps), I’ll dump the fund and change position to CA muni money fund.[/quote]
The math says that eventually some muni bonds will be defaulted on. The problem is when and where. That’s what Whitney got wrong, the timing. It’s obvious that at some point Chicago is going to default on their muni bonds. They are currently paying the bond holders and defaulting on their contractors. CA sort of did the same thing with IOUs in the depths of the recession. You do have somewhat of a cushion because cities seems to value paying the bond holders before some of their other bills.[/quote]
[quote=mercatus.org]
A new study for the Mercatus Center at George Mason University ranks each US state’s financial health based on short- and long-term debt and other key fiscal obligations, such as unfunded pensions and healthcare benefits.
#44 California
#45 Hawaii
#46 Kentucky
#47 Illinois
#48 New Jersey
#49 Massachusetts
#50 Connecticut
#51 Puerto Rico
sure looks like an un-appreciated trend that indicates its only a matter of when TSHTF WRT the muni “bond” funds sector,… so I’d suggest caution as per specific OP query (i.e. What does everyone think of municipal bond funds?… Any thoughts would be appreciated.)
PS WRT “actual insight”
its been said… This above all: to thine own self be true, so don’t be mad at me (the messenger) for pointing out various problems w/ muni bonds, its the first thing investors should be doing (i.e. due diligence)
as for an “actual insight” get the feeling that you might have CA bond fund misgivings or perhaps even “buyer’s remorse”
but what do I know
[quote=flu]
June 18, 2016 – 12:24pm.
I have the vanguard intermediate term ca fund for a few years. Its alright. I personally wouldnt do the long term one. But what do I know.
July 15, 2016 – 7:46am.
what ends up happening is one end up spending a lot more time trying to rationalize the decision
[/quote]
