As bad as the first quarter was, the second quarter was good—very good. But now we have to pause to see if expectations, which drove markets higher from early March through the end of June, are accurate, overblown, or maybe even still too pessimistic. More...
Using New Web Audio Hotline
Administrator 2009-07-02 16:31:29
The new Hotline is live, complete with both text and audio.
The audio file can be played with any mp3-compatible browser plugin. Your browser will simply More...
"Less-worse isn't the same as better"
macfield 2009-07-02 16:00:50
“Less-worse isn’t the same as better,” said Barry Ritholtz, chief executive of FusionIQ, a research firm. “We want to see ‘good.’ In order to grow More...
Physician's burnoff: YOUNG and OLD
macfield 2009-07-01 18:14:45
For all the Obamanites who thinks Health Care is going to be wonderful, you had better reads the below and take an opposing view or???
Read More...
Sell. This fund of funds tracks the Morgan Stanley EAFE index by investing in European Index (currently about 70% of assets) and Pacific Index (the remaining 30%). It's similar to Tax-Managed International, which tracks the same index, though that fund buys stocks directly and comes with a higher minimum and more onerous back-end loads. Performance for the two has been virtually identical. Yet both ignore the emerging markets component that one finds in Total International or World ex-U.S. Index. And there's the rub. If you buy into the indexers' credo that one should index "all" markets rather than a slice of the pie, then this fund is a non-starter.
You could say that June 2009 will be remembered for being bookended by the fall of some of the largest icons in the business and entertainment worlds. As for us, right now you and I, and the markets, are in something of a waiting mode. We've had a big run from the market's lows in early March. Both the Dow and the S&P 500 are up since their March lows, and expectations are that the economy is starting to heal and corporate profits will follow. Read this month's issue to find out where some of Vanguard's outside managers think we're headed and how this is a good time to buy. I'm sticking with the tried-and-true and staying away from the multi-multi-managed funds. In the closed-fund arena, if you're worried about being locked out of the Treasury Money Market funds, don't. You don't need multiple choices to feel safe. And check out my interview with Matt Dobbs, lead manager on International Explorer and co-manager on International Growth, to find out what he thinks about foreign small-caps in this economy. More...
Once again Vanguard has shut the door on Convertible Securities to try and staunch cash flows. The move was made, in part, to protect manager Larry Keele, who operates in a small market and may be finding it difficult to handle the flow of new cash. More...
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 Indepedent 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. More...
| Models | June | Year to Date |
| Growth | 0.3% | 9.3% |
| Conservative Growth | 0.1% | 7.5% |
| Income | 0.7% | 6.2% |
| Growth Index | 0.1% | 7.8% |
| The average Vanguard investor |
0.1% | 4.7% |
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A service of the Fund Family Shareholder Association. The Independent Adviser for Vanguard Investors and FFSA are completely independent of The Vanguard Group ®. Vanguard®, The Vanguard Group®, and The Vanguard Group of Investment Companies® are service marks of The Vanguard Group®. FFSA is not affiliated with or endorsed by The Vanguard Group®, The Vanguard Group of Investment Companies®, or any Vanguard® mutual fund.
