Tag Archives: asset allocation

Invest like a Vulcan

Chief economist’s log, stardate 62014.1

Okay, everybody, don your pointy ears. We’re going to boldly go where (I’m guessing) no investment company has gone before. We’re going to talk about how wise long-term investing is like Vulcan investing.

I’ve always … Read more

My one piece of investing advice

In the early 1990s, I studied for the Chartered Financial Analyst® (CFA®) exams. From March to June, I’d lock the television in the closet and spend my evenings with some of the driest reading material ever committed to the page.… Read more

Is there a gorilla in our midst?

In a famous experiment, psychologists Christopher Chabris and Daniel Simons asked people to watch a video of people playing basketball and count the number of passes. Technically, the answer is 15, but that misses the point of the experiment. … Read more

Lessons from 2013

Many people spend the final days of each December reminiscing about the year gone by. At this time, it’s not uncommon for individuals to draw “lessons learned” from both the good and bad moments, and to make resolutions for the … Read more

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

Happy anniversary!

October marks the 10th anniversary of Vanguard’s target retirement funds. What began as the next generation of balanced funds, following Wellington and the LifeStrategy Funds, has grown to represent over $200 billion of shareholder assets.

While increasingly being used as … Read more

Risky business

I first learned about risk from the collected works of Stephen King. “Risk” hid in the closet. It lurked beneath my bed. If I pulled the covers over my head and slept with a baseball bat, I could manage it.… Read more

A Philadelphia Story

On July 4, 1776, the Second Continental Congress, gathered in Philadelphia, to adopt the Declaration of Independence. Two hundred years later, some 20 miles west of Independence Hall, in a nondescript office park near Washington’s Valley Forge headquarters, John C. … Read more

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 … Read more

Investment mistakes your neighbors won’t tell you about

People don’t often share their investment mistakes. Can you recall the last time a friend or colleague mentioned how inept they are at managing their investments? First, most polite people have been raised not to openly discuss their finances. Second, … 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.

Vanguard Marketing Corporation, Distributor

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