Author Topic: 2013 Bogleheads Conference  (Read 2942 times)


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2013 Bogleheads Conference
« on: October 30, 2013, 11:16:22 PM »
About two weeks ago there was a big Bogleheads Meeting in Philly.

The amount of brainpower there was ridiculous; panel members included Jack Bogle and William Bernstein.

Wade Pfau, the retirement researcher, took notes based on the comments of the panel members and published them as a series of tweets.

Link with all of them aggregated:

To read them in chronological order, start from the bottom of that page and scroll up.

Many insightful gems in there.

Any fan of index funds should read this at least once.

I'm going to post some of my favorites here for reference sake.

Bogle: Investing is about capturing returns provided by corporate America, not on capturing speculative returns from Wall Street expectation.

Bogle: The efficient market hypothesis is overrated, all you need is the cost matters hypothesis, or CMH.

Sauter: Relative investor performance before costs is a zero-sum game.  After costs, investor performance relative to markets is a negative sum game.

Sauter: The best indicator for mutual fund performance is: The Expense Ratio.

Allan Roth: Our portfolio is stored energy which allows us to do what we want in life.

Ferri: [I use] TIPs as 20% of bond portfolio to hedge unanticipated inflation.

Bernstein: The only black swans are the history you haven't read.

« Last Edit: October 30, 2013, 11:30:32 PM by arebelspy »
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Re: 2013 Bogleheads Conference
« Reply #1 on: October 31, 2013, 11:43:41 AM »
I like the Roth quote you highlighted about a portfolio being stored energy for the life you want to live, and the Sauter quote about Expense Ratios being the best indicator. Thanks for posting, I'll look forward to reading through the rest of the notes on the blog when I have a little more time to read through it.


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Re: 2013 Bogleheads Conference
« Reply #2 on: November 18, 2013, 10:46:40 PM »
It was awesome.  Brilliant speakers, friendly attendees, low costs.  What more could a mustachian want?  ;-)


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Re: 2013 Bogleheads Conference
« Reply #3 on: November 19, 2013, 01:38:40 PM »
+1 on the Roth quote.  "Our portfolio is stored energy which allows us to do what we want in life."

It's like my saying: "Money is the root of all good".  Having enough of it lets us do anything we want in life.