January 29, 2015

Two Sides to Every Storm Front

There were seemingly two sides to every story this week. On the heels of quantitative easing in Europe, Greece voted for an anti-austerity party. New home sales surged in December, but durable goods orders were weak. Caterpillar's and Microsoft's earnings disappointed, while Apple had a record-breaking three months to close out calendar year 2014. And though winter storm Juno was a bust in New York, it dropped two feet of snow on Boston. Read More »

January 12, 2015

Vanguard's Tax-Equivalent Fantasy Yields

The introduction of a new, low-cost municipal bond index fund, like the recent filing for Tax-Exempt Bond Index, is a great time to crow that yields are always higher when costs are lower. And most of the time they are. But there's higher yields, and then there's Vanguard's calculations of those yields—or rather, Vanguard's calculation of the taxable-equivalent yields that its tax-exempt bond funds offer. Read More »

January 2015 PDF

Red Scare

Whether it was the North Korean hack of Sony Pictures, the rebuilding of bridges with Cuba, or Russia's plunging ruble and rising rhetoric, not to mention large losses in the oil markets, red was the color of the month. Early on, it appeared that despite a stellar 2014, the U.S. stock market might actually end the year on a negative note. After Fed Chair Janet Yellen came to the rescue with a commitment to keep interest rates low well into 2015, though, we saw some of the strongest buying Wall Street has had in years, and the market lost a fraction for the month. Read More »

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Re: Time to Re-Up

mf102 (01-30-2015) wrote: last I saw was an offer on the adviser link, (few months back) for about $190 +/- for two years and I took it. Hard to imagine paying more than $100/year. The forum is worth that amount. nero Read More »


Re: Time to Re-Up

JWL39 (01-30-2015) wrote: don't have documentation handy, but about $179 for 1 year with "book" included....I think Read More »


Re: Time to Re-Up

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Daniel P. Wiener is editor of The Independent Adviser for Vanguard Investors, a monthly newsletter that keeps abreast of recent developments at Vanguard, and the annual FFSA Independent Guide to the Vanguard Funds. Through his newsletter and guide book, Dan helps tens of thousands of Vanguard investors choose wisely among more than 100 Vanguard mutual funds. The Adviser is a five-time winner of the Newsletter Publishers Foundation's Editorial Excellence Award. View More »

Vanguard Funds Correlation
What's This?
Model Portfolio Performance
Models December 2014
Growth -0.1% 10.9%
Conservative Growth -0.3% 10.8%
Income -0.4% 11.1%
Growth Index 0.2% 10.6%
The average
Vanguard investor
-0.5% 8.0%
Past Performance »