Like a light switch that can be flicked with ease, risk, which was on just a week ago, is now off. The 10-year Treasury yield fell to 1.84% yesterday, though it's rising today as stocks are rebounding against bonds. The Dow, which hit a high on May 1, fell 444.26 points over 6 days, which may, on the face of it, sound like a lot, but is actually just a 3.3% decline from that post-crisis high. 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...
How to make 5% in May
tampabay 2012-05-16 08:16:41
Just wondering if anyone actually decided to take advantage of the sell in "May and go Away"?...as reported the Dow is off 5% in May and 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% |
