Investing

Opinions on market trends and investing strategies.

Two sides to every trade

Suppose, after reading a favorable article on a company, you go out and buy the stock at $10 per share. A year later, the stock price reaches $20, and you close out your position, doubling your money in a year—a …

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8 Comments

Recent Posts

Simplicity is the ultimate sophistication

If there was ever a person who appreciated the intricacy of the world around us, it would have to be Leonardo da Vinci. His fascination with complex systems from human anatomy to the mechanical world led him to some fascinating …

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10 Comments

A pat on the back

I believe that, as investors, we all deserve some applause. The past six years have been trying and volatile. In this very challenging environment, it hasn’t been easy to stick to your asset allocation or portfolio decisions. Vanguard has tried …

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6 Comments

Staying the course

It was only a few short months ago that we feared intransigent policymakers would cause the economy and markets to hurtle into the abyss. I always preferred the term taxmageddon over fiscal cliff because it more accurately captured the pervasive …

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3 Comments

Silence is golden

Last Christmas, I bought my son a pair of noise-canceling headphones. Now, even as I raise my voice to a shout, he can’t hear me above whatever is rattling around inside his head.

In short, he’s on his way to …

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3 Comments

A failure to communicate

If you first learned how to think about saving and investing as I did, from a passbook savings account, bond funds can seem like a world turned upside down. I was reminded of this a few days ago when an …

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9 Comments

Long-term perspective: Essential for athletics and investing

If you’re looking for insight on investments and personal finance, you could do a lot worse than asking a long-distance runner.

Vanguard is a second career for me. After college, I had the great fortune to compete as a professional …

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2 Comments

Investing principles for an uncertain world

I recently traveled to Vanguard’s international offices, and no matter where I found myself on the globe, the topic of market and economic uncertainty was a constant theme.

For example, China’s transition from an investment-driven economy to a consumer-based model …

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20 Comments

Lessons from the Attic

On a recent trip to my parents’ house, I sifted through crates of childhood junk that my mother had cleared from the attic. One item in particular caught my eye—an “official program” from a New York Mets game in 1980.…

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7 Comments

Earning income in a low-yield environment

I participated in a live webcast recently on the topic of earning income in a low-yield environment. Here’s a recap of a few of the themes from that session.

One of the persistent questions from the seminar was how long …

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95 Comments

Oh how you’ve grown, little website

I would call myself a “pack rat,” except the comparison might offend pack rats. For the most part, it’s not a good thing to have such a messy office. But on occasion I unearth something interesting. Like this screenshot of …

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23 Comments

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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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