Saving Account

http://www.mitbbs.com/pc/pccon.php?id=1482&tid=0&nid=14447&s=all

大家都知道Checking and Saving Accounts。我觉得其实很多 Broker 的帐户也非常好。这里主要介绍一下 Vanguard 和 Fidelity 的几个好东西。看完以后,我想你大概就不再对普通的帐户感兴趣了。我已经很久没有Saving Account了。以下的文章假设是加州居民。其他州的居民可以找到相对应的基金。

—- Money Market

1. (Money Market) VMMXX: current yield is about 5.10% and it consistently beats most of the high-interest-rate online savings accounts. For people who do not pay much tax, this is your best buy.

2. (Money Market) VCTXX: current yield is about 3.48%, both federal and state tax exempt. The actual yield can be as high as 6.96% or more, depending on how much tax you pay. (VMSXX is not as good. The slightly higher rate cannot offset state tax.) They also provide you with free checks for amount higher than $250. Fidelity还有一个money market accounts,连AMT都不交。利息稍微低一些,也还好了。对于税率高的家庭,这几个最合适。

总结:可以根据自己税率在1和2里面挑一个,就再也不用为Savings account操心了。

— Inflation fighters.

From a narrow definition, the perfect inflation fighters are TIPS, treasury inflation protected securities. We can get into these kind of funds by buying corresponding funds like: VIPSX。

问题是: 1美国政府很赖皮。在计算inflated的时候有很多小猫腻。所以这个指数不反映真正的通胀。所以我们买这个防止inflation不充分。2美国的通胀很大程度上是汇率变动的结果。真正解决通胀要从hedge currency risk入手。3:一个典型的consumer basket 不和你自己的消费习惯相符合。也许对别人没有通胀,对你有。(consumer basket里面computer之类的比例在增长。)

—Short-Term Bond

3. (Short-term tax exempt) VWSTX and VMLTX are not risk-reward efficient. Also they are not State tax free. Not attractive here. 买这两个还不如买上面那些 tax free money market fund. 在短期债券里面没有好的 tax free fund.

4. VFSTX short-term investment fund. Best performance in its category. 如果想买短期债券,自己税率比较低。这个最好。或者可以在401k里面买。

—Long/Mid-Term Bond.

5. (Mid-/Long-term tax exempt) VCAIX is pretty good. Fed and State tax free for Californians. Rate is okay 3.71% for now. Marginally higher than VCTXX. Similar argument for VCITX.投资长期债券,这两个最好。这两个里面VCITX稍微好些。税率比较高的人,不应该考虑taxable的bond。你可以算一下。在很普通的情况下 tax-free bond 都比 taxable 的好。municipal bond fund 并不是给富人的,而是给middel class的。Warren Buffet的税率比他的秘书低很多。

Vanguard 有个high-yield bond fund。看起来很好。但是要小心。High-yield bond 就是 junk-bond的美称。风险较大。

—Low Risk fund.

6. VWINX, my favorite. Long-term performance on par with SP500, with 1/3 of its volatility. 如果你的钱更多了,可以买vwelx。这个风险稍微大一点,收益高一点。两个都很好。先买第一个,再买第二个。再有富余的钱,可以考虑SP 500 index. 其他的domestic stock funds 都没什么意思。绝大多数比500差。好的那几个是growth type。今年流行,明年就不一定了。没有必要冲上去。The FBALX of Fidelity is also good. A little more volatile and a little bit more payoff.

— International fund.

7. VGTSX international fund, close to EAFE index. Long term performance is virtually the same as the famed fund DODFX. 这个不错。国际股市美国人了解的不够。很多都是计算机搞的。还不如买index稳妥。另外,international fund, index or not,都是大同小异。买个Vanguard,无它,就是图手续费低。如果你想冒险,就去买那个emerging market fund。其它的不用考虑了。

— U.S. Sector fund.

和Vanguard比,Fedility的index funds are less attractive。但是它的sector fund有一些非常好的。Vanguard的sector funds are not very attractive and a lot of them are closed to new investors. So I would suggest that you put 20%-30% money into fidelity to buy their sector funds.

8. FICDX (加拿大)。This is my best bet. It has energy component, financial compoment and technology. Very stable and fast growing. With Canadian commodity play, this one is for long-term holding. 另外考虑加拿大的强势货币,非常理想。

9. FSENX (energy)。Very good too. Very targeted and very volatile. If you are interested in oil service industry, Fedility has another one for you.

— 其他

Fidelity的mutual fund虽然手续费高些,但是fidelity有个好处。就是balance 高于50k 以后 each stock trade cost only 10 bucks. 虽然这个价钱不低,但是在fidelity里面方便,把钱挪来挪去也损失利息。总体上来说没省什么钱。

— Fight inflation

预防通胀要从货币入手。通货膨胀的根源在于 (1)原材料涨价,对策是买能源类,农业类 和其他自然资源类的股票。(2)政府财政政策不协调,对策是买财政政策稳定的国家的货币,比如瑞士和其他稳定,富裕国家的政府短期债券。(3)国际贸易不平衡,出口国货币涨价,比如中国,印度。对策还是买出口国的债券。所以,综合起来看应该有一个比较均衡的分配。比如买XLE 15%, MOO 15%, FICDX 15%, 在国内开户买债券15%,MERKX 25%,PRPFX 15%。任何人都 很难准确把握这个比例。但是如果有一个比较广泛的分布的话,应该可以大致完成任务。其他可以考虑的东西有: GLD, GDX, VIPSX, FSAGX。钱多了可以买PFUIX :)

to be continued….

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License