Gyroscopic Investing

I mean Vanguard’s tax-managed stock funds. See VTMSX, for example.

dualstow wrote: ↑Tue Jul 10, 2018 5:54 am I mean Vanguard’s tax-managed stock funds. See VTMSX, for example.

I assume this is directed to me...yes, Vanguard will be using various stock trading/management strategies to minimize taxes. There are quite a few strategies fund managers can use to manage taxes/distributions...I know some and I'm sure there are many I'm not aware of. For example, if you had company A that is a dividend producer vs. a like and kind (sort of) company B that does not issue dividends the manager would select B over A. Another method you are probably familiar with is tax loss harvesting.

I'm guessing you could read the prospectus and get a pretty good rundown on what they are doing specifically with regard to the fund noted.

If I misunderstood your intent, my apologies.

Desert wrote: ↑Tue Jul 10, 2018 10:56 am Kbg is correct that ETF's have a structural advantage regarding tax efficiency. Vanguard is an exception, however. They have a structure (patent protected until 2023) that allows the mutual fund to be as tax efficient as the ETF.

https://www.bogleheads.org/wiki/ETFs_vs ... uard_funds

Learned something new today...explains why ETF and Admiral share mngt fees are always the same.

Aha. And it explains why so many B’Hds stick with fund shares.

Desert wrote: ↑Tue Aug 07, 2018 10:56 am Well, the time has come for me to buy some additional gold. It appears that GLDM is the best option, due to the ER. Does anyone disagree?

The spread is larger, the volumes are much less, trade carefully with limit orders. Go fishing for the price.

GLDM and AAAU are tied with respect to expense ratio, at 0.18%. Does anyone have an argument for why one is better than the other?

Too early to say...need a quarter's worth of trading to see what happens.

If the first three days' trading for both is any indication clearly the early nod goes to GLDM.

AAAU is backed by the Perth Mint. But one might prefer their online depository so everything isnt vulnerable to a failure of your brokerage

boglerdude wrote: ↑Sun Aug 19, 2018 12:44 am AAAU is backed by the Perth Mint. But one might prefer their online depository so everything isnt vulnerable to a failure of your brokerage

This. If you want it backed by the Perth Mint, you can do so directly without adding more counterparty risk with not only your brokerage, but also the fund family.

GLDM has the same risks, as does any paper gold option.