Do you know what career risk means? Of course, you do. It means you could lose your job. Well, in the investment world of pensions, mutual funds, and ETFs, career risk means you might lose your job if you underperform an index. That’s why so many pensions, foundations, and the like are piling into the Jabba the Hutt funds, like Vanguard’s Total Stock Market Index. If they lose a pile of money, at least they can say, “Hey, so did everyone else. We performed just like the market did”. You’ve read here, here, here, here, and here about my concerns with Vanguard being too big. That goes for all … [Read more...]
Why Vanguard is too Big: Part V: How You’re Being Forgotten
I’m not trying to be unfair to Vanguard, or other companies with airplane-hangar-sized call centers, but nowadays you tend to feel like a number. You feel like what’s more important to the big guys is telling you how many assets they have under management. It’s in the trillions. How does that help you? It doesn’t. It also doesn’t help when the phone rep you’re speaking with is either fresh out of college or is worth a fraction of what you’ve been able to save over a lifetime of work. There tends to be some value in working with someone who has actually made some money, don’t you think? It … [Read more...]
RIP Eddie Van Halen
You know a group is special when you want to share their music with your kids. When you’re actually excited to see their reaction when hearing it for the first time because you know how it hit you. Certain songs do that. They are so iconic you can’t wait to share them. Van Halen’s “Jump”, especially, is one of those songs that will live forever for my family. We play it every morning before hitting the slopes. It is the last song played as a pump up in anticipation of a day of skiing. RIP Eddie Van Halen, you will be missed. Your songs will live forever. … [Read more...]
Why Vanguard is too Big: Part IV: Meet the Jabba the Hutt of Funds
When you spend hours on vanguard.com like I do, you realize how hard it is to get the information you’re looking for. Take for example the bloated Vanguard Total Stock Market Index Fund. The thing is a behemoth, with so much money stuffed into it, it’s a wonder it can even move the needle. Jabba the Hutt comes to mind—you deserve better. Not to tool on Jabba, but take a look at what you’re really getting yourself into. Consider for a moment the title—Total Stock Market—where you think you’re buying a diversified fund. Not necessarily the case. How can it be when ten stocks account for over a … [Read more...]
It’s the COVID Stupid: Don’t Stop BELIEVIN’
And just like that, President Trump is back in the saddle. Boohoo cries the left as the president’s short stay (could have been shorter) at Walter Reed comes to an end. Who has more fun than him? The down in the mouth left never met a crisis it loved so much. “Don’t go home!” they cry. Because when a 74-year-old man shows he can kick COVID-19 over a long-weekend, their greatest fears come true: They’re laughed at and called out for being WRONG from the very beginning. President Trump is living proof that the fear of getting sick far outweighs the risk of keeping the healthy locked … [Read more...]
Biden Town Hall: Stay in the Ring Joe
Tune in at minute 54:00-59:42 and try to follow the bouncing ball as Biden ventures off the reservation where even his friendly NBC host, Lester Holt, can’t rein him back in. … [Read more...]
Why Vanguard is too Big: Part III: BOND ALERT
In times like these, you can’t afford to fight other people’s social crusades. Vanguard has announced a new ESG bond fund. You need to know the pitfalls of ESG and avoid them. Vanguard has announced: We’re pleased to announce that Vanguard ESG U.S. Corporate Bond ETF (VCEB) is now available. This latest addition to our ESG (environmental, social, and governance) offerings was designed to complement our equity lineup of ETFs and mutual funds, satisfy evolving investor preferences, and enhance our low-cost approach. It’s time for Vanguard to get back to its roots. The venerable firm, … [Read more...]
“Trump Deserves It” Cries the Left: Fall in Line—or Else
Well, you don’t have to look at the license plates from New York to know the well-heeled (Gucci that is) are in Newport. The invasion of the Porsche Cayennes is on: Don’t cross the street before looking both ways or risk getting mowed down by masked drivers. And forget about any pleasantries on the road when it comes to merges, parking spots, or them riding up your you-know-what while they rush around tight Newport streets just to get to the next stop sign. Emotions and masks are up as the transplants bring their way of life to yours. Literally. They look at you with beady little eyes, … [Read more...]
Will You Be Ready When the Mob Comes a Knockin’?
Are you prepared for winter? I hope you are. This one might be a tough one. You know that along with strengthening your immunity and getting your guns and your training (read here, here, here, and here for starters), you also need to consider the violence spreading to the burbs. It’s tragic, especially if you live in the blue states/cities, you see how leaders have prolonged the devastation from this virus for their own political gain. Take a look at the 2,000-plus page, $2.2 trillion with a “t”, Pelosi pork-ridden relief bill, and the largest line item by far is $436 billion for, wait … [Read more...]
Why Vanguard is too Big: Part II
Short-term noise is an investor’s worst enemy. As if it’s not hard enough to set an appropriate course, you have the constant barrage of information that can make you feel uneasy. Times are changing. That’s a fact. Take a look at the S&P 500 or Vanguard’s Index 500 or some other ETF. Today, seven stocks account for 26% of the index, while not one of them trades at less than 33x earnings. You have read here that the stock market has dropped by 33% three times already this century. Doesn’t it make sense that the chances of that happening again become more likely when only seven … [Read more...]
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