September 21, 2017

Inflation and Aggregation

The Fed seems to be sticking to a plan for another rate hike in December and possibly three more rate hikes in 2018. Yes, they'll meet on Halloween for a two-day confab before the December meeting, but they probably won't raise rates since there's no plan for a press conference afterward and Chair Janet Yellen has been very clear that she does not want to surprise anyone with a Fed move, as well as saying she'll let the data drive the decision-making. Read More »

September 2017 PDF

Looking Up

This month's issue features the finale of our Bonds 101 feature, with a Funds Focus on Vanguard's tax-exempt bond funds and ETFs. As with all our Funds Focus articles, we'll tell the potential risks and the potential rewards of each fund and boil them down to a simple buy/sell/hold rating—and usually try and steer you to a better option if we know of one. You'll also find some changes afoot at Vanguard that we'll go into in depth: A brand new ETF-of-ETFs the fund family is introducing that seems more or less redundant with one of its own components, a manager change that threatens to bog another actively managed Vanguard fund with boring index-like performance (without low index-like fees), and a change at three Vanguard bond funds that pits man against bond index in one of the most liquid and efficient parts of the capital markets. And to round things out, we'll also list out September quarterly distributions and review the typical effects on the market and the economy of a natural disaster like the one that affected the Gulf Coast this week. Read More »

August 22, 2017

My View On Votes

Vanguard is looking for your vote on a series of shareholder proposals. Last week, the company started a three-month proxy voting campaign to elect trustees and approve a few policy changes. The cynic in me says it doesn't matter how we and other FFSA members vote, because most Vanguard customers are simply going to vote however the Directors say they should. However, as Jeff and I have been getting emails and calls from subscribers asking how we suggest they vote, I figured we should give you our recommendations. Read More »

Most Recent Forum Threads
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Re: Off Topic: Atomic Clock moves 30 seconds closer to Midnight thanks to North Korea & Trump?

StevenFromTexas (09-22-2017) wrote: Ya'll ought to be glad Donald Trump is President rather than me. I would have taken out North Korea while I was being sworn in as President. Read More »


Re: Off Topic: Atomic Clock moves 30 seconds closer to Midnight thanks to North Korea

jerrygg (09-22-2017) wrote: Ok John I added the President to the title. His recent statement about destroying North Korea reminds me of a claim by General Curtis LeMay during the Vietnam War: Evidence of LeMay's thinking is that, in his 1965 autobiography (co-written with MacKinlay Kantor) LeMay is quoted as saying his response... Read More »


Re: Humor for your day

jsarnow (09-22-2017) wrote: Read again about the "bible clinging" founders of our country. John Read More »

Guidebook 2017 cover
Order your copy of the 2017 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 0.2% 13.3%
Conservative Growth 0.4% 12.5%
Income 0.3% 11.2%
Growth Index -0.1% 11.0%
The average
Vanguard investor
0.3% 9.5%
Past Performance »