July 30, 2014

Inversions Hurt Individual Investors, Too

As U.S. corporations move offshore to potentially avoid billions in U.S. taxes—$19.5 billion in tax revenues over the next decade, according to the Joint Commission on Taxation, a non-partisan congressional research panel—they are sticking their shareholders with an unexpected tax burden over which investors have no control. Read More »

July 24, 2014

Large Is Beautiful

In the category of 'what goes up must come down,' it's been a see-saw month in the stock markets at home, as large-cap indexes like the Dow and S&P have risen and small- and mid-caps have fallen—though some large-, mid- and small-cap indexes have hit record highs this month. The Dow and S&P indexes are up 3.1% and 7.5% for the year through Wednesday, and the S&P mid- and small-cap indexes are up 5.3% and 0.1%. Read More »

July 2014 PDF

Summertime: Is the Livin' Easy?

One thing we don't want in our portfolios, though, is bloat. It's just too bad for shareholders of Explorer that Vanguard doesn't understand that. I've got the full story on the recent addition of an eighth manager to the fund, and Vanguard's obfuscation of the matter, in the issue. With a formula focused largely on assets under management rather than performance, you can decide for yourself whether Vanguard's top executives earned their latest Partnership Plan pay hike. Just don't take their multimanagement PR, or Bill McNabb's comments in the semiannual report for Morgan Growth, at face value. Read More »

Most Recent Forum Threads
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Re: SS 19 more years...think I can make it

JoeC (07-31-2014) wrote: Mona, I have a Verizon Samsung smart phone which does have a SIM card. It may depend on the model of phone you have. My previous Verizon phone did not have a SIM card but it wasn't a smart phone. good luck with your hunt, my Verizon... Read More »


Re: A Thought for the Day

butwait (07-31-2014) wrote: For Investors, It's No Worries Fed's plans should not hit stocks anytime soon. Barring an unforeseen, exogenous event, this is how the bull market will end: The Federal Reserve will push interest rates higher until the economy slows and corporate earnings tumble. That day is a ways off. The Fed has... Read More »


Re: Financial Potpourri

butwait (07-31-2014) wrote: Lawsuit Aims at Vanguard's At-Cost Structure A federal lawsuit filed in New York last year and unsealed this week charges that Vanguard has avoided paying about $1 billion in federal taxes and $20 million in New York taxes the past 10 years. The lawsuit was filed by a former Vanguard lawyer and... Read More »

Access the Independent Guide to the Vanguard Funds Now
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"America's leading expert on investing in Vanguard funds"

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 June YTD
Growth 2.9% 6.9%
Conservative Growth 2.4% 6.8%
Income 1.3% 6.2%
Growth Index 3.0% 6.7%
The average
Vanguard investor
1.7% 6.0%
Past Performance »