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

Do you have the bond gene?

One of the smartest people I know—a brilliant copy editor—used to shake her head as she read articles about bonds and the bond market.

“I think you have to be born with the bond gene to understand bonds,” she would …

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94 Comments

Active or passive?

In 1976, Vanguard launched its 500 Index Fund, making it the first index mutual fund available to non-institutional investors. The creation of an index fund intended for individual investors was an important salvo in the now long-running battle over …

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3 Comments

Rebalancing: What’s your trigger?

You probably know that Vanguard advocates periodic rebalancing as a way to manage risk in investment portfolios.

Our Investment Counseling & Research Group, overseen by my fellow blogger John Ameriks, has written a detailed white paper on rebalancing. John weighed …

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103 Comments

At the risk of sounding like a broken record …

I realize this will be about my third post on this issue, but the things people are writing about 401(k)s just get more and more absurd, and it’s tough to sit by and let this go unchallenged.

Now the editors …

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14 Comments

Hitting the right notes with your investment strategy

For 35 years I’ve carried a quotation in my wallet. More precisely, I’ve moved the quotation, clipped from a now-defunct newspaper, from wallet to wallet to wallet over the decades.

The quotation is from Willa Cather’s “O Pioneers”:

“There are …

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6 Comments

Finding balance in stormy seas

Of all the generally accepted investment concepts called into question by the recent market environment, it seems to me that rebalancing is pretty close to the top of the list.

During late 2008 and early 2009, rebalancing your portfolio to …

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8 Comments

401(k) loans: Are you really taxed twice?

Following my recent post on 401(k) loans, a number of you asked for more detail on the rules around taxes on plan loans and repayments. So I thought I’d delve deeper into the topic of being (or not being) …

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34 Comments

Lessons from the Busted Flush Investment Club

Nearly 20 years ago, I helped a group of friends start an investment club.

We were regulars at a friendly poker game, so we named our venture the Busted Flush Investment Club. My hope was that I could interest these …

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11 Comments

Yesterday’s news

Steve Utkus, one of my fellow bloggers, wrote recently about the dubious value of a local radio station’s early-morning reports on where the S&P 500 and Nasdaq markets are likely to open the day, based on futures trading. He labeled …

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8 Comments

Target-date risks

Criticism of target-date funds is heating up in the aftermath of hearings by the SEC and the Department of Labor. But rather than illuminating the retirement investing problem, the discussion has only highlighted a yawning deficit in the public debate.…

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