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Vanguard and the incredible disappearing white male
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2023 Mar 20, 8:23am 1,279 views 17 comments
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1
Ceffer
2023 Mar 20, 10:35am
Ceffer
2023 Mar 20, 10:35am
I wouldn't give financial advice to relatives unless they agreed not to hold me responsible for the results. They take a bath on a twist of fate, they come back on you yowling. Everything to relatives should be in the form of absolute gifts, or nothing at all, especially not loans, unless you want to really get rid of them in your life, in which case they 'accept' the loan with repayment terms and intrest, and then you never hear from them again. If they do come back in your life, remind them of the loan and the accumulated interest to get them back out of your life again.
2
fdhfoiehfeoi
2023 Mar 20, 11:08am
fdhfoiehfeoi
2023 Mar 20, 11:08am
clambo says
If only that was the worst they did. Vanguard is the Rockefeller's, Rothschild's, etc, hiding in plain site.
The first page on Vanguard.com shows all kinds of people except white males.
If only that was the worst they did. Vanguard is the Rockefeller's, Rothschild's, etc, hiding in plain site.
3
clambo
2023 Mar 20, 11:15am
Yeah my brother gets to enjoy the extra taxes and his bond funds have a capital loss thanks to Powell raising interest rates; he got double the pleasure.
4
SunnyvaleCA
2023 Mar 20, 2:13pm
Maybe instead of buying bonds you should buy large-cap stocks that pay a decent dividend. The stock price should increase with inflation and the dividends give a yield similar to bonds. That seems to have worked for Warren Buffet!
It's funny that you mention Apple and Microsoft stock, because I have about 80% and 5% of my worth in those two respectively. Yes, overleveraged in Apple, but I just don't want to be selling and paying all those taxes – especially before evacuating from California. Also, neither of these stocks pays much in dividends (advice implied by my first paragraph).
It's funny that you mention Apple and Microsoft stock, because I have about 80% and 5% of my worth in those two respectively. Yes, overleveraged in Apple, but I just don't want to be selling and paying all those taxes – especially before evacuating from California. Also, neither of these stocks pays much in dividends (advice implied by my first paragraph).
5
AmericanKulak
2023 Mar 20, 2:19pm
AmericanKulak
2023 Mar 20, 2:19pm
clambo says
That will change shortly once they make a bigger commitment to DIE.
Funny thing, the representatives I have spoken with at Vanguard over the years are excellent.
That will change shortly once they make a bigger commitment to DIE.
6
clambo
2023 Mar 20, 3:10pm
Sunnyvale, I think dividends are good too.
My brother for some reason continues to work so I think his best investment would have been Vanguard Tax Managed Capital appreciation fund, or the Municipal bond fund.
I think there will be an exodus of guys from California when they decide they don't want to pay California taxes on income and capital gains.
My brother for some reason continues to work so I think his best investment would have been Vanguard Tax Managed Capital appreciation fund, or the Municipal bond fund.
I think there will be an exodus of guys from California when they decide they don't want to pay California taxes on income and capital gains.
7
Ceffer
2023 Mar 20, 5:00pm
Ceffer
2023 Mar 20, 5:00pm
AmericanKulak says
What do you have against crack cocaine futures?
That will change shortly once they make a bigger commitment to DIE.
What do you have against crack cocaine futures?
8
Misc
2023 Mar 20, 11:38pm
AmericanKulak says
There's still licensing requirements. That knocks out all the felons and those that can't read. Also, cant outsource to India.
clambo says
Funny thing, the representatives I have spoken with at Vanguard over the years are excellent.
That will change shortly once they make a bigger commitment to DIE.
There's still licensing requirements. That knocks out all the felons and those that can't read. Also, cant outsource to India.
9
stfu
2023 Mar 21, 9:21am
clambo says
I don't think it's a taxable event if you transfer those shares to another custodian - for instance Schwab. Schwab will even pay for the bullshit fees that Vanguard will charge.
There's no reason to liquidate a stock, ETF, ETN, or fund to move it to another broker.
I'm trapped at Vanguard; I can't sell funds which I have owned there without owing a fortune in capital gains.
I don't think it's a taxable event if you transfer those shares to another custodian - for instance Schwab. Schwab will even pay for the bullshit fees that Vanguard will charge.
There's no reason to liquidate a stock, ETF, ETN, or fund to move it to another broker.
10
Robert Sproul
2023 Mar 21, 2:27pm
NuttBoxer says
Wait, what?
There is something about that that makes perfect sense.
People always speculate about where exactly IS the Rothschild moola, they are never mentioned on the Richest People Lists.
Vanguard is the Rockefeller's, Rothschild's, etc, hiding in plain site.
Wait, what?
There is something about that that makes perfect sense.
People always speculate about where exactly IS the Rothschild moola, they are never mentioned on the Richest People Lists.
11
fdhfoiehfeoi
2023 Mar 21, 4:45pm
fdhfoiehfeoi
2023 Mar 21, 4:45pm
Vanguard's list of shareholders is private. Vanguard itself is a military term. They own major stakes in almost every company, a higher percentage than Blackrock. They are also Blackrock's biggest shareholders.
12
EBGuy
2023 Mar 21, 5:38pm
NuttBoxer says
While technically true, I really don't want them to release clambo's (and my) real names to the public.
Vanguard is investor-owned, meaning the fund shareholders own the funds, which in turn own Vanguard.
Vanguard's list of shareholders is private.
While technically true, I really don't want them to release clambo's (and my) real names to the public.
Vanguard is investor-owned, meaning the fund shareholders own the funds, which in turn own Vanguard.
13
fdhfoiehfeoi
2023 Mar 21, 8:07pm
fdhfoiehfeoi
2023 Mar 21, 8:07pm
I didn't realize your ownership percentage was that significant. So you're regularly involved in company decisions and votes right? I mean, you do understand I'm talking about the majority owners, not everyone who buys one share of stock in Microsoft(as an example).
Whoever owns Vanguard, they are very focused on their agenda, as the have the least amount of disagreement when it comes to voting:
https://www.cambridge.org/core/journals/business-and-politics/article/hidden-power-of-the-big-three-passive-index-funds-reconcentration-of-corporate-ownership-and-new-financial-risk/30AD689509AAD62F5B677E916C28C4B6
Whoever owns Vanguard, they are very focused on their agenda, as the have the least amount of disagreement when it comes to voting:
https://www.cambridge.org/core/journals/business-and-politics/article/hidden-power-of-the-big-three-passive-index-funds-reconcentration-of-corporate-ownership-and-new-financial-risk/30AD689509AAD62F5B677E916C28C4B6
14
clambo
2023 Mar 21, 8:27pm
Vanguard shareholders like myself are technically the owners; but we don't run it.
Sometimes I have a proxy vote but I don't recall it very often for the funds
Fidelity has actual owners.
T.Rowe Price has shareholders; it's a for profit corporation.
You can buy shares of T. Rowe Price, even if you don't own one of their funds.
You can not buy shares of Vanguard; you can buy shares of the various funds and etfs they offer.
Sometimes I have a proxy vote but I don't recall it very often for the funds
Fidelity has actual owners.
T.Rowe Price has shareholders; it's a for profit corporation.
You can buy shares of T. Rowe Price, even if you don't own one of their funds.
You can not buy shares of Vanguard; you can buy shares of the various funds and etfs they offer.
15
fdhfoiehfeoi
2023 Mar 22, 8:31am
fdhfoiehfeoi
2023 Mar 22, 8:31am
I don't give a shit about the economics of Vanguard except to point out that they structured so you don't know who runs it. You guys can keep getting lost in the weeds for bullshit, or think about why the company that owns more of Blackrock, and the rest of the world than any other company, doesn't disclose who controls it financially.
16
1337irr
2023 Mar 22, 3:24pm
1337irr
2023 Mar 22, 3:24pm
I fired 20,000 people today by doing a rollover from Vanguard, Empower & Putnam to TD-Ameritrade/Schwab.
Paid $100 in fees due to being two rollover checks from a Roth and a traditional account.
Paid $100 in fees due to being two rollover checks from a Roth and a traditional account.
17
clambo
2023 Mar 22, 3:51pm
I mentioned elsewhere that Vanguard's service is falling.
I had an RMD from an inherited IRA; I did it online and it was fucked up.
I called a month later when the website was making errors: "Oh, the website has problems with Firefox."
I recently sent a message asking for a written statement to confirm Firefox causes problems; I need it to avoid a large IRS penalty.
The reply was bullshit and telling me to "clear the cache" etc.
They were not helpful.
I had an RMD from an inherited IRA; I did it online and it was fucked up.
I called a month later when the website was making errors: "Oh, the website has problems with Firefox."
I recently sent a message asking for a written statement to confirm Firefox causes problems; I need it to avoid a large IRS penalty.
The reply was bullshit and telling me to "clear the cache" etc.
They were not helpful.
The first page on Vanguard.com shows all kinds of people except white males.
Statistically about 65% of investors are white males.
Of course; it's pretty hard to be an investor from jail or working at McDonalds or if you have income from crime which you cannot report.
Vanguard recently downgraded their service dramatically; I think they have too much focus on gathering new investors and not focusing on their actual clients.
My older brother fell for their "advice" deal; he got an inheritance and decided to ask Vanguard what to do. He pays about $1500/year for this "service".
I told him to forget it; sell the several stocks and keep Microsoft and Apple. Make no other changes because he is still working.
NO; Vanguard tells him to be more heavily in bond funds based on his age (70+).
"You are still working; you do not need bonds; they will just raise your tax bill each year!"
I'm ranting; nobody listens to me why should my brother?
I'm trapped at Vanguard; I can't sell funds which I have owned there without owing a fortune in capital gains.
Funny thing, the representatives I have spoken with at Vanguard over the years are excellent.