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Most Recent Articles
June 25, 2015

Old Stories Aren't Moving the Needle

The housing market has found its footing and is bouncing back from a snow-filled winter. Existing home sales data showed a big recovery in May, with national sales up 5.1% and up more than 9% over the past year. Prices are recovering as well, and the median home price of $228,700 was the highest since June 2007, near the peak of the housing market. New home sales, which are just 1/10th the size of existing home sales, also had a good month in May and are up almost 20% over the prior year. Supply of new homes is low, suggesting that construction activity may pick up to meet the demand. Read More »

June 17, 2015

The Individual's Money Fund With the $5 Million Minimum

The press completely missed one of the craziest parts of Vanguard's announcement yesterday that it’s renaming and realigning its money market funds to keep their net asset values at a fixed $1.00 per share by avoiding the “institutional” label. Read More »

June 1, 2015

Stay Seated Until...

So much for the old market chestnut, 'Sell in May and stay away.' May has seen U.S. stocks' year-to-date return just about double since the end of April. Through April, 500 Index was up 1.9% on the year; through May's close it is up 3.2%. I know there are five more months to go, but this is at least a tripwire for Sell in May adherents and just one example of why it can be so hard to follow the strategy in real life.

In this month's issue, I've got a full breakdown of the 'Sell in May' strategy and why reality has a nasty way of making the averages look a whole lot worse than the numbers suggest. But market timing isn't the only place conventional wisdom is off the mark. Jeff DeMaso and I did the math on the claim that ETFs are more tax-efficient than traditional index funds and found it simply isn't true. But good luck getting Vanguard to tell you that. Judging by their advice on U.S. Growth 10 years ago, the list of funds they've dubbed 'Select' and their new Personal Advisor Services, even cheap advice can turn out to cost you more than you know. You can find my take on all three in the issue, along with an update on the new Alternative Strategies fund and upcoming semiannual distributions. Read More »

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"America's leading expert on investing in Vanguard funds"

Daniel P. Wiener is editor of The Independent Adviser for Vanguard Investors, a monthly newsletter that keeps abreast of recent developments at Vanguard, and the annual FFSA Independent Guide to the Vanguard Funds. Through his newsletter and guide book, Dan helps tens of thousands of Vanguard investors choose wisely among more than 100 Vanguard mutual funds. The Adviser is a five-time winner of the Newsletter Publishers Foundation's Editorial Excellence Award. View More »

Model Portfolio Performance
Models May YTD
Growth 2.0% 16.0%
Conservative Growth 1.6% 14.4%
Income 0.2% 9.1%
Growth Index 1.6% 14.4%
The average
Vanguard investor
0.1% 7.2%
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