Tag Archives: performance

A gem of wisdom

In the investment world, you occasionally come across a simple yet striking observation. Here’s an example from a recent client letter of Howard Marks, chairman of Oaktree Capital Management, L.P., and one of Vanguard’s external investment advisors:… Read more

The “best” place to put your money NOW for 2012

I have to admit up front that if you’re reading this blog based on the title, you’re in for a bit of a surprise, and I hope you won’t feel too bad about being hoodwinked.

Articles with titles like this … Read more

Portfolios and the lost decade

My recent comments about the performance of retirement accounts elicited a wave of comments from Vanguard investors about poor stock market returns. Here are a few thoughts in response.… Read more

Retirement and the market sell-off

When the stock market sells off, as it did in late July and early August, there is an inevitable surge in commentary on the riskiness of U.S. retirement accounts. The main worry is that retirement investors are taking on too … Read more

Roth IRAs and tax deferral

With a new year well underway, at Vanguard our attention is turning to IRAs, 401(k)s, and tax planning. This year, I, like a lot of others, seem to have Roth IRAs on the brain.… Read more

Clearing the air on target date performance

Sigh … How many more times are we going to see articles like this, involving great wailing and gnashing of teeth over target date fund performance … in 2008?

Below you’ll see a summary of unvarnished data from Morningstar, … Read more

A tactical approach to retirement (part 1)

In my January 5 post, I wrote about big developments shaping retirement in 2011. In this and an upcoming post, we’ll look at simple retirement planning tactics individual investors may want to consider.

1. Savings rates. There’s a … Read more

Taking another “random walk”

I recently had the chance to reread A Random Walk Down Wall Street by Burton Malkiel as part of a work-related book club.

Having read the book in a business school class very early in my career, I promptly ignored … Read more

Musings of a pack rat

I am a pack rat.

A long habit of cutting articles from newspapers and magazines has left me with several boxes of clippings, only some of which have been sorted into files. On a clean-up crusade, I’ve spent more than … Read more

A “decent decade” after all?

Commentators almost seem to have been competing to coin the catchiest—or most negative—label for the ten years from the end of 1999 to the end of 2009. It’s not surprising that some have called it the “Decade from Hell,” given … 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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