The week's wrenching drop in the stock market has been driven by Greece, but this is anything but an Olympian decline. In essence, the Greek government has failed in its attempts to use austerity to try and solve its budget issues. The Greek populace, at least those who vote, isn't willing to live with austerity, and so it's really only a matter of time before the country must opt out of the euro and start reissuing drachmas. More...
OT: Financial edcation in the fifth grade
mf102 2012-05-17 19:44:34
I found this thread on the bogleheads.com site. About education of fifth graders concerning finance. Having them buy or rent their own desks, etc. http://www.bogleheads.org/forum/viewtopic.php?f=10&t=96498&newpost=1394181 nero More...
Seasonality Comparison Study
butwait 2012-05-16 18:22:22
[b]Used Federal Government's Thrift Savings Plan performance data from May 2011 to April 2012 to compare seasonality theory. The unfavorable season runs from May 1st to More...
The Clash of Generations
T4Texas 2012-05-16 09:11:40
This article is a aummary of the book "The Clash of Generations". It is long, but extremely thought provoking. T4 The Clash of Generations John Mauldin More...
If it weren't enough that everyone and their brother is recycling their quadrennial research papers on election cycles and market cycles, it's also the beginning of May, when that old Wall Street market-timing chestnut recommending investors 'sell in May and go away' rears its ugly, and wrong-thinking, head. I'll tell you my thoughts on it in this month's issue. Meanwhile, Vanguard's STAR LifeStrategy line and the series of Target Retirement funds sure seem like a simple solution to the complex problem of retirement investing, but prove to be a bit more complicated and fraught with problems in reality than in theory. You can do better, and I'll show you how. On a more somber note, Howard Bernard Schow of PRIMECAP Management passed away early last month. While this is a great loss to all who knew and respected him, I believe his legacy will live on for a very long time. Finally, the issue wraps up with answers to a few of your questions, and a recap of last week's trades in the Model Portfolios that so many of you were asking about. More...
Friday, April 27, marks two decades since the introduction of Total Stock Market, the fund that has displaced Vanguard's flagship 500 Index as the internal index fund of choice in Malvern. Total Stock Market not only stands alone as an investment option with Investor, Admiral and various ETF and institutional share classes, but it is also found as a component in a slew of other Vanguard funds, including all the Target Retirement funds, the STAR LifeStrategy funds, and the Managed Payout funds. 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 | April | YTD |
| Growth | -1.1% | 9.0% |
| Conservative Growth | -0.9% | 7.9% |
| Income | 0.1% | 6.3% |
| Growth Index | -0.5% | 10.5% |
| The average Vanguard investor |
-0.2% | 7.1% |
