Sarah Hammer

Sarah Hammer

Sarah Hammer is a senior investment analyst in Vanguard Investment Strategy Group, where she specializes in research and analysis of tax, financial regulation, and investment issues. Her recent topics include the taxation of financial instruments and investments, personal income tax, gift and estate tax, tax strategies for charitable giving, and financial product regulation. Prior to joining Vanguard, Ms. Hammer worked in portfolio management at Pacific Investment Management Company (PIMCO) and in trading at JP Morgan. She has also held positions at BlackRock Financial Management and at Tudor Investment Corporation. Ms. Hammer earned a J.D. from the University of Pennsylvania Law School, an M.B.A. from the Wharton School of the University of Pennsylvania, and a master of studies from Oxford University. She is a member of the Pennsylvania Bar Association.

Recent blog posts by Sarah Hammer

Personal finance

Repaying your debts

I have several friends who are getting their children ready to head off to college. And before their kids leave, many of them are being entrusted with a credit card for the first time—an important milestone!

Incredibly, many of the … Read more

Investing

Municipal debt, Detroit, and diversification

There’s no question that the municipal bond market has been on a roller coaster this year. In July, news of Detroit filing for the largest municipal bankruptcy in history roiled the markets, seeing investors sell municipal bonds and yields on … Read more

Personal finance

Sudden wealth syndrome: Tips for avoiding potential pitfalls

Most of us are used to earning a salary and building retirement savings gradually, over time. It is a deliberate and steady process. Sudden wealth, on the other hand, means receiving more money than you’re used to being responsible … Read more

Visit vanguard.com or contact your broker to obtain a Vanguard ETF or fund prospectus which contains investment objectives, risks, charges, expenses, and other information; read and consider carefully before investing.

Vanguard ETF Shares are not redeemable with the issuing Fund other than in Creation Unit aggregations. Instead, investors must buy or sell Vanguard ETF Shares in the secondary market with the assistance of a stockbroker. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

Investments in bond funds are subject to interest rate, credit, and inflation risk.

Diversification does not ensure a profit or protect against a loss in a declining market.

Foreign investing involves additional risks including currency fluctuations and political uncertainty.

Stocks of companies in emerging markets are generally more risky than stocks of companies in developed countries.

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in such a fund.

All investing is subject to risk, including possible loss of principal.

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