JTH's Account Talk

[JTH]

No exit today, I think it's worth the wait to see what's around the corner. I still may make an exit this Friday, that would be just 4 days short of reloading on IFTs, we'll just have to see how it plays out.

 

[GUCHI]

JTH
speaking of reloading on IFTs. it sucks that they limit us to 2/month, but they also limit us on time to trade also during the MOST critical time the afternoon. its like playing cards with half the deck missing. i really don't see how they get away with it. sorry to vent but it just burns me a new one.

 

[Birchtree]

There are no emergencies in TSP. No need to hurry.

 

[JTH]

I realize it's difficult to comprehend the destruction performed by the Thrift board is our reality. Yes, those arrogant bastards think they know what's best by providing a 1-solution fix that encompasses all of us. The truth is the majority of people are too stupid to manage their own money, and we here at TSPTalk are but a sliver of the minority who actively manage our accounts. It took some time, but I've managed to completely remove the Unlimited-IFT mindset, I had to because it just isn't good to trade with that crap lingering in the back of my mind. Accepting the 2-IFT world is a must, coulda, shoulda woulda doesn't make me money in the here & now.

 

[Scrappy]

The truth is the majority of people are too stupid to manage their own money, and we here at TSPTalk are but a sliver of the minority who actively manage our accounts.

This comment/observation is not intended to be derogatory towards anyone but halfway through 2011 almost 50% of the tracker is below what could have been gained by a buy and hold G funder. More than 50% could have done better in the next lowest earning fund, (I fund).

I believe a strong argument could be made after looking at our tracker that as hard as we try, I/we may be too stupid/ignorant to manage our own money with two IFT's a month in this crazy market?

 

[JamesE]

The truth is the majority of people are too stupid to manage their own money, and we here at TSPTalk are but a sliver of the minority who actively manage our accounts.

I would add that there are some people on the tracker who should not have access to their money.

 

[JTH]

This comment/observation is not intended to be derogatory towards anyone but halfway through 2011 almost 50% of the tracker is below what could have been gained by a buy and hold G funder. More than 50% could have done better in the next lowest earning fund, (I fund).

I believe a strong argument could be made after looking at our tracker that as hard as we try, I/we may be too stupid/ignorant to manage our own money with two IFT's a month in this crazy market?

I would add that there are some people on the tracker who should not have access to their money.

Yes I said that most people are too stupid to manage their own money, but that doesn't mean we should remove their right to do so. Whose money is it? They take our money with operating cost, then limit our choices. My belief is you should have the individual right to manage your own money if you so choose, even if you are a dumb azz. But hey what do I know? I know the gov is not managing our social security, there will be none left for me by the time I retire at the ripe old age of 90.

 

[JamesE]

Couldn't agree more.

 

[FAB1]

The afternoon downslide came right on time today, didnt it. TSPers with 12 noon deadline didnt stand a chance.

Yes its the Reality we have to live with. But I still dont like it nor have gotten it behind me either.

I/we may be too stupid/ignorant to manage our own money with two IFT's a month in this crazy market?

Again I know we cant change it, but this says a mouthful - I find myself often too concerned with the "two" shots and rather than "burn" one
will make a poor decision.

I need to focus more on how to use the IFTs to make gains, meet a goal, rather than make decisions based on using IFT for later or just being IN at the end/start of a month. Just being "in stocks" at some particular time where Ive only got a vague idea if Gains will be there, isn't much of a plan. I feel Im just one of the lucky ones right now to be over the 0% line. If I want to learn from my mistakes I have to get rid of bad habits - so JTH I have to agree you have to put asides the negatives and operate your plan in the area you are allowed to.

I may still bitch - cant promise I wont! :toung:

 

[JTH]

JTH I have to agree you have to put asides the negatives and operate your plan in the area you are allowed to.

It's really just an observation I've found has helped me, letting go of the baggage of the past. I don't mean to be harsh by pointing it out, I just lack people skills.

This is tough, 54% of those on the auto tracker are not beating the G-Fund, by comparison, in 2010 is was 60% and 2009 was 61% so we aren't all that far off from the norm. The truth is we are our own biggest mistake, the constant dickering with our accounts often does more harm than good. Catching the waves is something I thought Ebb_TSP would have adapted to by now with the new IFT limits, but it goes to show just how difficult it is to outperform a bull market. Bu the year is still young and much can happen in this marathon...

 

[FAB1]

The technique of trying to grab a couple of % each month and then lay out isnt a bad one I think.

I was attempting to do this and staying pretty much on target until May and I made a blunder that
if I had not made I might have enjoyed the top ten for quite a while as the recent pullback occurred.

Co worker told me if you want to buy and hold you have to look away from the daily market reports, thats what they did.
Of course you lost a load in 2008/9 practicing that.

 

[IndianaJones]

I'm a cobra striker. Sit in the G and wait. Worked this week as I jumped in Monday and out Tuesday. Goal is 1-2% per month. If market takes a huge loss, like a mini crash or something, I plan on buying and holding for a long while, IFT's permitting. Yes only having two really stinks. I wonder if it has fixed the TSP's problem? Costs. Wonder if they have any data on that.

 

[Elgallo]

I realize it's difficult to comprehend the destruction performed by the Thrift board is our reality. Yes, those arrogant bastards think they know what's best by providing a 1-solution fix that encompasses all of us. The truth is the majority of people are too stupid to manage their own money, and we here at TSPTalk are but a sliver of the minority who actively manage our accounts. It took some time, but I've managed to completely remove the Unlimited-IFT mindset, I had to because it just isn't good to trade with that crap lingering in the back of my mind. Accepting the 2-IFT world is a must, coulda, shoulda woulda doesn't make me money in the here & now.

And know full well there IS somthing we can do about it. That is using the inservice/age based withdrawls available to us, and move ALL your money to a private firm such as Fidelity, Vanguard ect. I'm in the process of doing that NOW.

 

[goforit]

And know full well there IS somthing we can do about it. That is using the inservice/age based withdrawls available to us, and move ALL your money to a private firm such as Fidelity, Vanguard ect. I'm in the process of doing that NOW.

and how do you do that with out taking a hit when you retire. i thought that if you retire and have an in service withdrawal and have not paid it back you either pay it back in full or get taxed to the max? just curious..

 

[JTH]

And know full well there IS somthing we can do about it. That is using the inservice/age based withdrawls available to us, and move ALL your money to a private firm such as Fidelity, Vanguard ect. I'm in the process of doing that NOW.

and how do you do that with out taking a hit when you retire. i thought that if you retire and have an in service withdrawal and have not paid it back you either pay it back in full or get taxed to the max? just curious..

Cool, I look foward to hearing the details, let us know how it works out whne you get a chance.

 

[Elgallo]

and how do you do that with out taking a hit when you retire. i thought that if you retire and have an in service withdrawal and have not paid it back you either pay it back in full or get taxed to the max? just curious..

You are only taxed if you take constructive use of the money. What I am doing is, in essence, a tax deferred roll over to a Fidelity IRA using both the TSP and Fidelity plan adminestrators to effect the transfer.

If one reads the instructions on the form TSP-75 you will see where this deferred transfer is possible. This is a one time thing and you cannot do this again even at retirement.

Read more about the withdrawal here:

https://www.tsp.gov/planparticipation/inservicewithdrawals/basics.shtml

 

[mayday]

http://stockcharts.com/h-sc/ui?s=$EMW

The R2K did not hit the 200 DMA but the lows are slanted in the right direction.

 

[JTH]

The R2K did not hit the 200 DMA but the lows are slanted in the right direction.

You might be surprised to know I've had very little stress while invested since 9 June (3 days from the bottom.) While my timing was not perfect, I did manage a decent entry, avoiding over 75% of the downside price action. This isn't to gloat, this is just to show that my perspective & position are vastly different than those who have taken a hit this month. 76% of the auto tracker folks are down MTD, so I imagine their outlook is more bleak than mine.

 

[amoeba]

well - the 2IFT limit forces me to do exactly what I don't want to - my timing is not great, I've done better averaging in slowly, and I'm not allowed to do so:

The easiest solution to the "problem" (as I remember it, fair value problems in excess trades in the I-fund, NOT overall trade costs due to excess trades - which can't be limited anyhow due to unlimited transfers to the G-fund), is revise the limit as it applies to the I-fund.

Since the TSP claimed "savings" - let's either see some analysis showing proof (or absence thereof) - or go to something else.

Alot of threads/official comments were made, and none listened/adequately responded to - after the change was noticed in the FR. The only other solution I can think of is to get rid of Greg Long, Obama, or both, and for a new POTUS to be sworn in, but we'll have to wait ~2 yrs for that.

OR - they can let us transfer our TSP into some private manager (Fidelity, etc.) and send TSP and Greg packing. That probably WILL save some $.

 

[vegasmith]

Yup, it's Obama's fault. Get rid of him and then we'll have triple the ITF's, maybe even unlimited.

..

No past or future President cares about TSP.