September 20, 2018

All That Glitters Ain't

It isn't a trade war, but the skirmishes are becoming more intense as the Trump Administration is now going to impose a 10% tariff on another $200 billion in Chinese goods and will ratchet that up to 25% on January 1. If this is a negotiating ploy, it's a pretty aggressive one. It's not clear how the Chinese will match the latest round of tariffs, but so far Wall Street doesn't seem overly concerned. In fact, both the Dow and S&P 500 hit records today, marking the 205th and 207th records for each, respectively, since this bull market began nine-and-a-half years ago. Read More »

September 11, 2018

Will Vanguard Spend $431 Million To Take on Fidelity?

While I don't expect Vanguard to go to zero on costs or minimums, I do think they have a golden opportunity to respond to the lowered investment hurdles. While the up-front cost could be as high as $431 million, the long-term benefits could easily outweigh the short-term pain.

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September 2018 PDF

Dividends Matter

Market watchers got their wish on August 24, as the S&P 500 index finally hit an all-time high after 145 days meandering below the last high, set on January 26. Subsequent highs left the S&P with 206 records since the market bottomed in 2009 and, according to some, made this the longest bull market in history. That's bull, as Jeff has pointed out. The bull market of the 1990s was longer. What isn't bull is that while investors and pundits were arguing the point, the S&P has actually notched 275 new highs since the bear bottom if you count dividends—and I hope you do. So, are we out of the woods? Hard to say. Read More »

Most Recent Forum Threads
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Re: A very good article on the Vanguard Wellington and Wellesley Funds/Might have to log in to read it

flymefast (09-25-2018) wrote: Tom: I agree as I moved my Wellesley into my Wellington several months back. I too use your formula. I think that the Primecap and the Wellington managers are among the best there is to offer. flymefast Read More »


Monday Morning Outlook

flymefast (09-25-2018) wrote: Read More »


Re: A very good article on the Vanguard Wellington and Wellesley Funds/Might have to log in to read it

tomcat50 (09-25-2018) wrote: Fly, over time I have been blending VWENX with POAGX for buy and hold. Plan to stay on the more aggressive side instead of including Wellesley. Read More »

Guidebook Cover 2018
Order your copy of the 2018 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 August YTD
Growth 2.6% 8.7%
Conservative Growth 2.2% 7.6%
Income 1.8% 6.1%
Growth Index 2.9% 8.2%
The average
Vanguard investor
1.5% 4.7%
Past Performance »