A few weeks ago, I reviewed preliminary reports on first-quarter growth in the U.S. economy. The news was grim: annualized shrinkage of 0.7%. “The economy has now contracted in three separate quarters since the recession ended in mid-2009,” The Wall … Read more
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Lawrence Peter Berra, known to baseball fans and other admirers around the world simply as Yogi, passed away on September 22, 2015. He was 90 years young.
Although his baseball achievements are legendary, Yogi’s malapropisms are as much tied to … Read more
In 2011, when Standard & Poor’s downgraded the U.S. credit rating, did you break out in a cold sweat? And when Greek voters rejected the terms of a European Union bailout, did you find yourself breathing into a paper bag … Read more
A recurring theme jumping out at me from news headlines is that millennials are shying away from the stock market, setting them up for long-term failure as they invest for retirement. For example, just recently, I read about a survey … Read more
Recently, a few colleagues and I were reminiscing about an ad that Gus Sauter, Vanguard’s retired CIO, had hanging in his office for years. It depicted a monkey at a computer managing a portfolio. The ad’s message? Indexing is so … Read more
Given my wife’s Irish heritage, we decided it’s high time to show our boys the beauty of Ireland, especially since the U.S. dollar has surged relative to most other currencies in the last year. Sure, the trip will take a … Read more
The United States tries to help people save for retirement. We have tax incentives. We have private-sector innovations such as workplace retirement plans that automatically enroll us and increase our savings rates over time.
Even so, we’re probably not saving … Read more
Ten years ago on May 1, 1975—“May Day” —The Vanguard Group of Investment Companies commenced operations. Surely Vanguard, a decade ago, was a new beginning in every sense of the phrase. Our challenge was to build … … Read more