July 21, 2016

Bearish Sentiment, Bullish Markets

The Dow has now hit new highs seven days in a row, while the S&P 500 index has hit six new highs over the last eight trading days. But more important to you and me, Dividend Growth is at an all-time high, as is PRIMECAP Core, plus about a dozen other equity funds. Other large holdings of ours, like Capital Opportunity and Health Care, are 5.1% and 3.3% below their all-time highs. Don't read anything into this, but of interest to me is the fact that Health Care last hit a high exactly one year ago, on July 20, 2015, and Capital Opportunity, which as you know has a large stake in the health industry, last hit a high on March 20, 2015. Expect a rebound? I would think so. Read More »

July 18, 2016

Vanguard's Multi-Manager Strategy Takes Another Hit

Just days after posting yet another defense of its multi-manager strategy, Vanguard again trimmed managers at funds including Capital Value and International Growth. It was just last month that Vanguard trimmed the management responsibilities at Explorer Value from three to two firms by firing Sterling Capital Management, something I dealt with in the July 2016 issue of The Independent Adviser for Vanguard Investors. Read More »

July 2016 PDF

U.K. to E.U.: Pee-Yew!

Invest for tomorrow, invest for the next year, or invest for the next decade? I think a lot of investors were pondering those questions during the final week of June as stock markets first crumbled under the weight of the result of the Brexit vote on June 23 and then staged rebounds. Ultimately, as negative as the initial reporting was, by the end of June, London's FTSE 100 index was up 4.4% for the month and actually 2.6% higher than where it stood prior to the Brexit vote. Read More »

Most Recent Forum Threads
View More »

Re: Promises, Promises, Pension Promises

griffim (07-25-2016) wrote: Hmmmph. As on one the retirees of the states listed in this article it is not pleasant to read, ..."If you’re a retired teacher, firefighter, etc., you naturally want what you were promised. You probably won’t get it. That’s just simple reality. The taxpayers don’t have the money. ...." .... Read More »


Stocks Could Predict Who Wins White House

butwait (07-25-2016) wrote: Stocks Could Predict Who Wins White House By: Adam Shell, USA TODAY 8:54 a.m. EDT July 25, 2016 History says a key ally of Hillary Clinton heading into Election Day could be the Wall Street bull. Donald Trump, on the other hand, might get his best endorsement from Wall Street’s dreaded bear. Here’s why:... Read More »

Order your copy of the 2016 Independent Guide to the Vanguard Funds today

"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 -0.5% 1.9%
Conservative Growth -0.5% 2.0%
Income 0.3% 3.0%
Growth Index 0.6% 5.1%
The average
Vanguard investor
0.6% 3.3%
Past Performance »