2017 SatuMedia CONFERENCE ANNOUNCEMENT

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GoldenFinch
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by GoldenFinch » Sun Oct 22, 2017 8:23 pm

I was able to attend only half of the conference and really enjoyed it! Ibrought my college aged daughter who took detailed notes of Thursday’s session. If anybody is interested, the notes will be posted over the next couple of days. Here is Part I:

Jack Bogle opened the event with highlights from the past year, including being featured in a Wall Street Journal cartoon and being called the father of passive investing. He also spoke about getting a boost from “the second highest possible source ever:” Warren Buffet, a long-time index champion. When they met, they talked for about an hour. Mostly, Bogle said, they spoke about the letters they get saying they are such bad dressers. Warren Buffett now recommends Vanguard. At Warren Buffet’s annual meeting, Buffet said that if there is ever a statue erected to honor the person who has done the most for American investors, that person should be Jack Bogle. In fact, Bogle said, there is a statue of him in the Vanguard courtyard. In the course of Warren Buffet’s annual meeting, he said, he thinks he took over 750 pictures with people (including about 190 selfies). Buffet also noted that in two years, Bogle will be eligible for an executive position at Berkshire! (“Hang in there, buddy,” he said.)

In terms of spreading the word, Bogle has also received lots of awards in 2017, and was named by Forbes as one of the world’s 100 greatest living business minds. He thinks that Forbes kind of let us down by leaving out as one of their criteria, “creating durable value for society.” As evidence, he pointed to the inclusion of casino moguls on the list. Bogle shared that when his photo was taken for the award, he told a woman in the room, “I feel like I’m a little boy in a room of giants.” She said “Oh Mr. Bogle, I’m sure everyone in the room feels that way.” He said, “I bet Jack Welch doesn’t.”

Bogle also received the 2017 CME Group Melamed-Arditti Innovation Award, and may be traveling to Florida to accept it.

Bogle shared articles in which he was featured (“I probably said a few things I shouldn’t have, which is what makes it decent,” he said.) and said he has sold a total of 848,000 books since 1994. He said his book has succeeded because it is short, simple and persuasive. Bogle also shared a video of his speech to the Pennsylvania Society, complete with a rendition of his Princeton school song.

Bogle highlighted the trajectory of the equity industry throughout his career and noted big changes in mutual fund leadership. While Vanguard ranked no. 7 in 1980, it ranks No. 1 in 2017.
Vanguard’s assets have increased 2005x since 1980.

While conventional industry expense ratios have increased 72%, Vanguard’s has decreased 73% (now Vanguard is at .15 vs. a 1.06 industry average). Happily, lower costs mean stronger returns. He said that an industry that sells what it makes became an industry that makes what will sell. Bogle also noted that he would like TIF (Traditional Index Fund) to be an accepted acronym. We are currently in the ETF era. What’s next, he said? The return to a new normalcy: the triumph of TIF indexing.

“In 2017, Vanguard is shooting the lights out,” he said. Bogle remarked that he is a small company kind of guy and is amazed by Vanguard’s size. “What is enough? I don’t know the answer to that, but don’t say that I don’t think about it,” he said. “I’m glad to have the ideas been given such acceptance by the public, but I still worry about size and what it does to a company — and what it does to challenges such as regulatory authority and things of that nature.”
Vanguard has soared above all competition since 2006, when its assets first topped Fidelity’s.

“I loved the days of struggle,” Bogle said, when everyone’s trying to do their best and searching for good news. But when you get big… “uneasy lies the head that wears the crown.”
Vanguard’s peak market share (24.2% in Aug. 2017) is much higher than former industry leaders’ peak market shares (which topped out around 15%). That is because of Vanguard’s Index Funds.

Bogle said he wanted relative predictability from the funds, which dominates Vanguard’s asset base.

Wellington is 65% S&P, 35% Corporate Bond Index…. Those two indexes explain 98% of Wellington’s performance. Only 2% of its performance is tied to active management. Why is it a leader? Bogle pointed to structure (low-cost), and strategy (indexing, virtual index funds). When you rank fund managers by number of high vs. low rated funds and the net distance between the two, Vanguard has topped the list.

On picking winning funds: what happens to winning funds after you buy them? Reversion to the mean!

ETFs have grown 35% since 1997, while TIFs have grown at a lesser rate.
At one point, Bogle said, he was looking at numbers. ETFs and TIFs have both grown very rapidly. ETF cash flow growth was about half of the net increase in assets. The numbers were very different for TIFs: 800 vs 500 billion for performance and 242 v 842 billion for net cash flow. Investor return for TIFs: 7.4% vs. 4.6% for ETFs.
Bogle took that further and looked through each year in the period. The returns for TIFs and ETFs correlate very highly with the returns you get from Morningstar, and seem to verify that that ETFs are not doing nearly as well for their investors.

When it comes to words to live by, Bogle quoted two passages: Matthew, 21 AD — “No man can serve two masters, for either he will hate the one and love the other; or else hold to the one and despise the other.” That’s what Vanguard tried to solve by having only one master, the investor, Bogle said. He also quoted Adam Smith from Wealth of Nations, when he talked about the interest of the producer - which ought to be attended to only so far as it may be necessary. Bogle said that the interests of fund shareholders (consumers) must finally triumph over the interest of fund managers (producers).

Bogle says he thinks a lot about his place in history and what he wants to accomplish. He thinks that curiously enough he summed all of this up in 1973, in the dedication that was in the Wellignton management building. Here is a rough transcription:

Today America is again being tested, and it is hardly an exaggeration to say that every institution in our society, from the White House on down the line - is being challenged - challenged to reassess its goals, its values, its contributions to our society.
Despite the billions of dollars entrusted to us, our company is small and fragile, and perhaps even unimportant in the vast context of space and time. Nonetheless, by doing our work as best we can, we can be better and stronger as individuals, and make this ambitious and interesting organization better and stronger, too. Each of us can in a small way be a positive force in helping to make this land just a little better. In short, I believe that even one person can make a difference.

“Here is our part in the universe,” Bogle said, before describing the size of the galaxy (“It has two hundred billion stars and a hundred billion planets.”) “How important are we in all that? Our galaxy is but one of two trillion galaxies out there,” he said. “That’s how important I feel at this very moment.”

Bogle ended his slideshow by reminding attendees to “STAY THE COURSE!”

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LadyGeek
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by LadyGeek » Sun Oct 22, 2017 8:27 pm

I'll link to your notes from the wiki when you're done posting.
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GoldenFinch
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by GoldenFinch » Sun Oct 22, 2017 8:37 pm

LadyGeek wrote:
Sun Oct 22, 2017 8:27 pm
I'll link to your notes from the wiki when you're done posting.
Thank you LadyGeek. :happy

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by TimeRunner » Sun Oct 22, 2017 8:52 pm

GoldenFinch wrote:
Sun Oct 22, 2017 8:23 pm
Ibrought my college aged daughter who took detailed notes of Thursday’s session. If anybody is interested, the notes will be posted over the next couple of days.
Please thank her for all of us who did not attend.
One cannot enlighten the unconscious. | Endurance athletes are the SatuMedia of sports. | "I like people - I just don't want to be around 'em." - Russell Gordy

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Mel Lindauer » Sun Oct 22, 2017 11:44 pm

Jazzman wrote:
Sun Oct 22, 2017 11:55 am
DITTO!
Always nice to see your smiling face again at this year's Conference. And thanks for volunteering to help out again this year.

Hope to see you again at our 2018 Conference.

Best regards,

Mel

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Jazzman » Mon Oct 23, 2017 10:15 am

You bet!

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by nkotbbh » Mon Oct 23, 2017 5:40 pm

Mel Lindauer wrote:
Mon Apr 03, 2017 12:55 pm
I'm pleased to announce that we've added Jonathan Clements to the Experts Panel. Jonathan will also be signing books during the book-signing session.
Mel,

Will there be any meetings in california or is it only one state? and also will the details of the meeting be discussed here on the forum?

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Mel Lindauer » Mon Oct 23, 2017 7:29 pm

nkotbbh wrote:
Mon Oct 23, 2017 5:40 pm
Mel Lindauer wrote:
Mon Apr 03, 2017 12:55 pm
I'm pleased to announce that we've added Jonathan Clements to the Experts Panel. Jonathan will also be signing books during the book-signing session.
Mel,

Will there be any meetings in california or is it only one state? and also will the details of the meeting be discussed here on the forum?
We used to move the Conferences around the country (Miami, Philly, Chicago, Denver, Las Vegas, DC, San Diego and Dallas/Ft. Worth). However, because of Jack's age and deteriorating health, we decided to hold the events near his home in Philly. That way, Jack doesn't have to fly to the event. So, for the time being, it will continue to be held in Philly.
Best Regards - Mel | | Semper Fi

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Miriam2 » Mon Oct 23, 2017 7:38 pm

Mel Lindauer wrote: We used to move the Conferences around the country (Miami, Philly, Chicago, Denver, Las Vegas, DC, San Diego and Dallas/Ft. Worth). However, because of Jack's age and deteriorating health, we decided to hold the events near his home in Philly. That way, Jack doesn't have to fly to the event. So, for the time being, it will continue to be held in Philly.
A nice advantage to Philadelphia is the Vanguard campus - where we can go to touch our money 8-)

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Mel Lindauer » Mon Oct 23, 2017 7:58 pm

Miriam2 wrote:
Mon Oct 23, 2017 7:38 pm
Mel Lindauer wrote: We used to move the Conferences around the country (Miami, Philly, Chicago, Denver, Las Vegas, DC, San Diego and Dallas/Ft. Worth). However, because of Jack's age and deteriorating health, we decided to hold the events near his home in Philly. That way, Jack doesn't have to fly to the event. So, for the time being, it will continue to be held in Philly.
A nice advantage to Philadelphia is the Vanguard campus - where we can go to touch our money 8-)
Yep, I call the Vanguard visit part of our Conference "Visiting Our Money".

I recorded a podcast at Vanguard during the Conference in which I was asked about our relationship with Vanguard. I replied that it was one of the highlights of our event when we get to visit our money.

They liked it so much, they said they're going to title my podcast "Visiting Your Money" or something similar.

Allan Roth and Christine Benz also recorded podcasts during the Conference and they're all supposed to be available on Vanguard's web site and on iTunes in January.
Best Regards - Mel | | Semper Fi

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Bonnan » Mon Oct 23, 2017 8:25 pm

Just another super run conference. I was able to enjoy an immense satisfaction with my grandson attending this year. He confirmed his Boglehead "membership" by bringing a first timer. Let's hope that Jack's health holds for next conference in 2018 and I did miss Taylor and Gail Cox from the committee.

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by sleepysurf » Mon Oct 23, 2017 8:37 pm

Did Rick Ferri attend?

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by LadyGeek » Mon Oct 23, 2017 8:41 pm

Yes, Rick Ferri attended. He wasn't part of any panel discussions, though.
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Miriam2 » Mon Oct 23, 2017 9:02 pm

sleepysurf wrote: Did Rick Ferri attend?
Rick Ferri spent probably 90% of his time explaining - to anyone and everyone who would listen :D - his "Education of an Index Investor" theory, sort of an investment journey from Darkness to Enlightenment, then a fall into Complexity, followed by the Great Awakening and Deep Understanding of Simplicity 8-) I guess we could call it Financial Nirvana. Rick was earnest and eloquent and quite wonderful to listen to :D

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by nkotbbh » Mon Oct 23, 2017 10:48 pm

Mel Lindauer wrote:
Mon Oct 23, 2017 7:29 pm
nkotbbh wrote:
Mon Oct 23, 2017 5:40 pm
Mel Lindauer wrote:
Mon Apr 03, 2017 12:55 pm
I'm pleased to announce that we've added Jonathan Clements to the Experts Panel. Jonathan will also be signing books during the book-signing session.
Mel,

Will there be any meetings in california or is it only one state? and also will the details of the meeting be discussed here on the forum?
We used to move the Conferences around the country (Miami, Philly, Chicago, Denver, Las Vegas, DC, San Diego and Dallas/Ft. Worth). However, because of Jack's age and deteriorating health, we decided to hold the events near his home in Philly. That way, Jack doesn't have to fly to the event. So, for the time being, it will continue to be held in Philly.
OK no problem yeah it makes sense but yeah definitely cant wait for the podcast or video if any of what happened and what was said.

GoldenFinch
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by GoldenFinch » Tue Oct 24, 2017 8:10 am

TimeRunner wrote:
Sun Oct 22, 2017 8:52 pm
GoldenFinch wrote:
Sun Oct 22, 2017 8:23 pm
Ibrought my college aged daughter who took detailed notes of Thursday’s session. If anybody is interested, the notes will be posted over the next couple of days.
Please thank her for all of us who did not attend.
Thanks TimeRunner. Here’s Part II:



Following Bogle’s introductory comments, Bogle and Bill Bernstein sat down for a fireside chat. Below are highlights from their conversation.

Vanguard’s Business Model
One of Bernstein’s first questions was about the role of nonprofit organizations in the financial sphere. “There are certain things that are necessarily in purview of the state,” he said. “But there’s a third area of the economy — nonprofits — which dominate certain segments of the market, such as education and medicine. . . . .Vanguard is a nonprofit organization for all purposes and practices. Do you think that finance is one area that should be run by nonprofits?”

Bogle said that any legislation mandating that finance be run by nonprofits would be far too complicated, but advantaged the opportunity to share more about Vanguard’s business structure. He said that Vanguard started on a very small budget for a financial organization, with under two million dollars. “The funds had no money,” he said, but argued that building success is still possible on a low budget. “You can rent computers, you can rent land, you can rent buildings,” he shared. “The ongoing question is, why don’t more people do it?” Vanguard’s name means “leader of a new trend,” and yet, Bogle said, “We still don’t have any followers! So how can you be a leader when you don’t have any followers?”

Market Composition
Bernstein transitioned to a question about FANG stocks (Facebook, Amazon, Netflix, and Google). Those stocks, he said, comprise about 15 percent of market cap. What makes them unusual is that they are all tech companies and selling for high valuations. Bernstein called them companies that could easily vaporize, and asked Bogle to share his thoughts.

“There is a certain risk of all this money coming into the index fund at very high prices,” Bogle said, and there is concern that the index funds could be hit more heavily by the actions of inexperienced investors. But, he said, that does not concern him. “Maybe it should, but it does not.”

Are mutual funds bad for competition?
Bernstein asked Bogle to comment on a recent paper by Jose Azar, Martin Schmalz, and Isabel Tecu, who proposed that mutual funds are bad for the competition because they do not care about how companies compete. The authors argue that this is bad for society because it distributes wealth away from consumers, who are paying for the higher profits.

Bogle said he disagreed with the argument, and shared examples to support his thinking. Suppose, he said, that Vanguard decided to bet on Google in a certain category, and Fidelity decided not to bet on Google in that category, but to bet on Apple instead. If Apple were to outperform Google, you would have people at Vanguard saying, “we’ve got to get out of this Google!” Bogle said. “And there you have a managed fund.”

“The essence of governance from an index point of view is to make sure the company is run in the interest of shareholders,” Bogle continued. “If that means bad things for the industry . . . that’s the way capitalism works. And it distributes those benefits very, very disproportionately, and that’s why we have that large gap between the wealthiest and least wealthy in America. There are a lot of repairs we need, but none have anything to do with changing the S&P 500 into the S&P 411 or 382.”

“When you get big and successful, there are going to be a lot of problems raised in the competitive markets and by governments all over the world,” Bogle said. “Those threats are going to be there when you get large and they will be tough threats. But that’s about it, and you can’t really see somebody else coming into the business to try to tackle all of that oligopoly. . . . Nobody wants to jump into the water because it would take so long to get the economies of scale that we deliver to investors. But if you deliver to investors, you’re not going to deliver to the managers.”

The Future of Index Funds
“If you aren’t familiar with Minsky, he produced the stability hypothesis,” Bernstein said. That theory says that stability produces instability and instability produces stability. The moment it all falls apart is called the Minsky Moment. Bernstein recalled that a graph Bogle showed during his opening remarks indicated that the percentage of the market that is indexed points clearly upward. “It is said that if too many people index, active managers will succeed,” Bernstein said. “We both know that they can’t possibly succeed, because even if 99 percent of funds are indexed, that one percent left is still ‘the market.’ But, some weird stuff would happen if we get to that point.” So, Bernstein asked, will that happen? If so, when? And, what would happen if it did?

“When you get to 99 percent or something like that… God knows what would happen,” Bogle said. Overall in the US, there’s still “a long ride to go,” before we could reach that point. “A bear market could slow down indexing. Would it slow down other people at the same amount? I don’t know. So I don’t worry about it. To go to 80 percent would require — I guess 100 years,” he said. “So indexing will continue to do okay. But there are other challenges.”

“The active managers say — or their representatives say — if all these people are indexing, it will be less efficient and easier for managers to systematically win,” Bogle said, adding “which managers, I don’t know.” But, he said, “it’s also easier by the same amount for active managers to lose. So it’ll be easier to lose and easier to win - what else is new?”

“Anything that gives the middleman strength costs money,” Bogle said. “Trading is the investors’ enemy, because all of these traders together get the market return.”

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by VictoriaF » Tue Oct 24, 2017 2:56 pm

Miriam2 wrote:
Mon Oct 23, 2017 9:02 pm
sleepysurf wrote: Did Rick Ferri attend?
Rick Ferri spent probably 90% of his time explaining - to anyone and everyone who would listen :D - his "Education of an Index Investor" theory, sort of an investment journey from Darkness to Enlightenment, then a fall into Complexity, followed by the Great Awakening and Deep Understanding of Simplicity 8-) I guess we could call it Financial Nirvana. Rick was earnest and eloquent and quite wonderful to listen to :D
Rick has shared his Financial Nirvana with me, too. I suggested that with his looks Rick could use his retirement to become a film star, but for him the Nirvana prevails over Earthly vanities.

Victoria
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by SGM » Tue Oct 24, 2017 9:46 pm

Another well run conference. I enjoyed meeting some newbies and seeing some familiar faces. Hopefully I can get back in 2018. I also appreciate that The SatuMedia 2017 Conference cup is designed so it is very hard for me to stick my watercolor paint brush in it. :D

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by LadyGeek » Tue Oct 24, 2017 10:00 pm

^^^ To explain, it was part of the schwag provided to everyone by Vanguard.

I had to read the instructions, as it's actually a 12 oz beverage :wink: liner or a coffee mug with clear plastic top. The cup holds either (1) the rubber ring insert or (2) the plastic top. Not both.
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Miriam2 » Tue Oct 24, 2017 11:09 pm

SGM wrote: Another well run conference. I enjoyed meeting some newbies and seeing some familiar faces. Hopefully I can get back in 2018. I also appreciate that The SatuMedia 2017 Conference cup is designed so it is very hard for me to stick my watercolor paint brush in it. :D
SGM - you're supposed to put your can, you know, your can of beer :beer into the canister, then secure it with the rubber screw ring, then drink away contentedly while you paint. Who knows what remarkable paintings you will create while sipping your beer out of your Vanguard Conference cup :D

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by maywood » Wed Oct 25, 2017 7:47 am

The cup holder thing is really nice. I love the (apparently Vanguard-designed) Boglehead nautical theme. I found that when putting the rubber ring on it like you are supposed to to drink a can of something, that doesn't work since there's not enough height remaining at the top of the can to get your mouth around the opening (hard to explain.) It worked fine when I put my can in the holder without either insert. It does keep it cold for quite a while.

maywood

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Lynette » Wed Oct 25, 2017 8:37 am

I could not get the top off of the mug - tried and tried and tried - tried heating it under a hot running top, used towels etc. Eventually I regretfully gave up and it is in the trash - to be collected today!

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by maywood » Wed Oct 25, 2017 10:59 am

Lynette, I had the same problem until my husband pointed out to me that it is a screw-on top, not pull off top. Just wanted to mention that in case you were trying to just pull it off.

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Lynette » Wed Oct 25, 2017 11:06 am

Thanks - tried everything - screwing, pulling - even put a knife under it - no luck! I manage to get tops off of soda bottles but I guess I need some or other type of device for aging hands!

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by dougger5 » Thu Oct 26, 2017 10:02 pm

Lynette wrote:
Wed Oct 25, 2017 8:37 am
I could not get the top off of the mug - tried and tried and tried - tried heating it under a hot running top, used towels etc. Eventually I regretfully gave up and it is in the trash - to be collected today!
It was a bit of a bear. Had to apply hard torque with my hand, with periodic rests, until it started moving a couple of millimeters - er - radians :D

But with persistence, and more than anticipated at that, it broke loose.
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by LadyGeek » Thu Oct 26, 2017 10:20 pm

Truthfully, I had no idea how what that rubber ring was for until I found the instruction sheet at the bottom of the box. I made a command decision and kept the clear plastic coffee lid.
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by sdunbar62 » Fri Oct 27, 2017 12:19 pm

Why don't you consider on-line registration for the conference in 2018? It would be easier and faster for participants and save time for organizers as well. Participants could also make hotel reservations at the same time.

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Barry Barnitz » Fri Oct 27, 2017 1:35 pm

Hi:

Much thanks to GoldenFinch and daughter, Moolala. These notes are now posted on our affiliate blog. Please see Notes from SatuMedia® 16 | Financial Page for the amalgamated blog version.

regards,
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by LadyGeek » Fri Oct 27, 2017 6:36 pm

Yes, many thanks! A link to the conference notes is now posted in the wiki: SatuMedia® 16 - Philadelphia
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by The Wizard » Fri Oct 27, 2017 7:44 pm

sdunbar62 wrote:
Fri Oct 27, 2017 12:19 pm
Why don't you consider on-line registration for the conference in 2018? It would be easier and faster for participants and save time for organizers as well. Participants could also make hotel reservations at the same time.
Well there is effectively online registration already.
As long as you get in the first hour after the announcement you're fine.
I had a conflict this year so couldn't go.
The real issue is choosing a venue with a 200 person limit rather than 2000.
Talk to the PTB about that...
Attempted new signature...

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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Mel Lindauer » Sat Oct 28, 2017 7:51 am

The Wizard wrote:
Fri Oct 27, 2017 7:44 pm
sdunbar62 wrote:
Fri Oct 27, 2017 12:19 pm
Why don't you consider on-line registration for the conference in 2018? It would be easier and faster for participants and save time for organizers as well. Participants could also make hotel reservations at the same time.
Well there is effectively online registration already.
As long as you get in the first hour after the announcement you're fine.
I had a conflict this year so couldn't go.
The real issue is choosing a venue with a 200 person limit rather than 2000.
Talk to the PTB about that...
There's a very good reason that we don't choose a larger venue. While we could probably sell 2000 spots (or even more) very easily, we'd lose the more personal, somewhat intimate touch that we now have where attendees actually get a chance to interact with Jack Bogle, Bill Bernstein, Jonathan Clements, Rick Ferri, Allan Roth, Christine Benz, Mike Piper and all the other authors and personalities present.

More is not always better.
Best Regards - Mel | | Semper Fi

SimplicityNow
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by SimplicityNow » Sat Oct 28, 2017 6:37 pm

Thanks to Mel and company for all the hard work that went into making this year's conference such a great event.

As a first timer I didn't really know what to expect but I really, really enjoyed it and learned quite a lot. Not to mention the opportunity to meet and thank Jack.

The opportunity to sit at a table with Bill Bernstein and ask him questions and the next day having conversations with him and Alan Roth over breakfast was simply priceless.

Mel: For what it's worth I think you are 100% right in keeping the conference at its current size.

Moolala
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Moolala » Sun Oct 29, 2017 10:40 am

Barry Barnitz wrote:
Fri Oct 27, 2017 1:35 pm
Hi:

Much thanks to GoldenFinch and daughter, Moolala. These notes are now posted on our affiliate blog. Please see Notes from SatuMedia® 16 | Financial Page for the amalgamated blog version.

regards,
Thank you Barry and Lady Geek for posting! I’m so glad the notes could be helpful.

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TD2626
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by TD2626 » Mon Oct 30, 2017 11:55 pm

VictoriaF wrote:
Tue Oct 24, 2017 2:56 pm
Miriam2 wrote:
Mon Oct 23, 2017 9:02 pm
sleepysurf wrote: Did Rick Ferri attend?
Rick Ferri spent probably 90% of his time explaining - to anyone and everyone who would listen :D - his "Education of an Index Investor" theory, sort of an investment journey from Darkness to Enlightenment, then a fall into Complexity, followed by the Great Awakening and Deep Understanding of Simplicity 8-) I guess we could call it Financial Nirvana. Rick was earnest and eloquent and quite wonderful to listen to :D
Rick has shared his Financial Nirvana with me, too. I suggested that with his looks Rick could use his retirement to become a film star, but for him the Nirvana prevails over Earthly vanities.

Victoria
Is there an article or place this theory is written up or spelled out? (I was not in attendance). I feel (based on personal experience, e.g. I am currently stumbling around the dark valley of complexity, but am beginning to see that there might be the light of simplicity at the end) that this theory might be valid.

Miriam2
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Miriam2 » Tue Oct 31, 2017 1:06 am

TD2626 wrote:
Mon Oct 30, 2017 11:55 pm
VictoriaF wrote:
Tue Oct 24, 2017 2:56 pm
Miriam2 wrote:
Mon Oct 23, 2017 9:02 pm
sleepysurf wrote: Did Rick Ferri attend?
Rick Ferri spent probably 90% of his time explaining - to anyone and everyone who would listen :D - his "Education of an Index Investor" theory, sort of an investment journey from Darkness to Enlightenment, then a fall into Complexity, followed by the Great Awakening and Deep Understanding of Simplicity 8-) I guess we could call it Financial Nirvana. Rick was earnest and eloquent and quite wonderful to listen to :D
Rick has shared his Financial Nirvana with me, too. I suggested that with his looks Rick could use his retirement to become a film star, but for him the Nirvana prevails over Earthly vanities.

Victoria
Is there an article or place this theory is written up or spelled out? (I was not in attendance). I feel (based on personal experience, e.g. I am currently stumbling around the dark valley of complexity, but am beginning to see that there might be the light of simplicity at the end) that this theory might be valid.
Yes, there is a written document 8-)

Rick Ferri drew a picture for me on my pad of paper of four squares, then labeled each square with words of explanation and meaning, then drew arrows from square to square, depicting how we travel in our investing quest from Darkness to Simplicity. I added the term Financial Nirvana :mrgreen: Although I suspect Rick would agree Simplicity is Nirvana, he just doesn't seem like the "nirvana" type :wink:

simplesauce
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by simplesauce » Fri Nov 03, 2017 7:08 pm

Will the Bogle Q&A video from the last day be posted soon?

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Mel Lindauer
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by Mel Lindauer » Fri Nov 03, 2017 7:18 pm

simplesauce wrote:
Fri Nov 03, 2017 7:08 pm
Will the Bogle Q&A video from the last day be posted soon?
Yes. It should be available in the next few days.
Best Regards - Mel | | Semper Fi

simplesauce
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by simplesauce » Fri Nov 10, 2017 11:03 pm

Mel Lindauer wrote:
Fri Nov 03, 2017 7:18 pm
simplesauce wrote:
Fri Nov 03, 2017 7:08 pm
Will the Bogle Q&A video from the last day be posted soon?
Yes. It should be available in the next few days.
Hi, any update?

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LadyGeek
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by LadyGeek » Fri Nov 10, 2017 11:16 pm

You must have missed this: Re: SatuMedia 2017 VIDEOS

It's in the wiki: SatuMedia® 16 - Philadelphia
To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

simplesauce
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Re: 2017 SatuMedia CONFERENCE ANNOUNCEMENT

Post by simplesauce » Fri Nov 10, 2017 11:55 pm

LadyGeek wrote:
Fri Nov 10, 2017 11:16 pm
You must have missed this: Re: SatuMedia 2017 VIDEOS

It's in the wiki: SatuMedia® 16 - Philadelphia
Thanks!

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