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Author: jackcrow Big gold star, 5000 posts Feste Award Nominee! Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35367  
Subject: Re: Bonds vs Bond Funds--Again Date: 12/31/2009 12:15 AM
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Even more so for bonds!"

I did not put the exclamation point on the phrase. Color me odd if you will but a rebuttal to a phrase and exclamation point with an admittedly minor difference is really no rebuttal at all. So, you are correct I don't accept a quibble as reasonable support for a dramatic claim.

and please don't put words or emphasis in my posts that are not there. If I wanted to make a "big deal" out of it I would have placed more emphasis in my post; exclamation points, bold and far more dramatic language. The big deal claim was made by temiske. I simply asked for support. The validity of any claim has great value to all readers.

For the sake of discussion I am more than willing to bypass whether or not stock picking is a losers game relative to indexing for two reasons: first, this is bond and fixed income board there are plenty of other places to have that debate; second, I honestly do not understand why buying bonds is considered significantly more costly than indexing. Please consider that I can buy from Treasury Direct, and most brokers have followed suit to keep assets in the house, for no fees. That is easy as pie and cheap investing.

I have no axe to grind, bond funds are one of many investing tools we have at our disposal. To dismiss them out of hand ignores their uses and ignores ore handicaps those that have few other choices due to investing capital restraints or employer sponsored retirement programs.

A third discussion is waiting in the wings around the definition of asset classes; is a bond index fund a separate asset class than bonds or are they similar enough to be considered equivalents?

jack
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