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  • Vanguard's Top 5 Funds.
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Most Recent Articles
Hotline
July 17, 2014

More of the Same

In short, this week delivered more of the same from last week: We saw economic reports indicating that GDP growth picked up in the second quarter, we got word again that the Fed is on the track we thought they were, and more unsettling geopolitical headlines hit the wire. Through it all, markets edged higher, with the Dow closing at a new high yesterday. Read More »

Issue
July 1, 2014

Summertime: Is the Livin' Easy?

Summer's here, and we have yet to see a significant pullback in the stock market. At the end of June, most of Vanguard's equity funds were at or within fractions of their all-time highs. But while the stock bull market is now more than five years old, I don't think it's over by any means. Are there potholes in the road ahead? I'm betting on it. That's why you and I keep our wits about us and a few bond funds in our portfolios. For some perspective, check out my stories on today's low yields, stock and bond correlations, and Vanguard's foreign bond funds, and don't miss my interview with Greg Davis, who took charge of Vanguard's Fixed Income Group following Bob Auwaerter's retirement.

One thing we don't want in our portfolios, though, is bloat. It's just too bad for shareholders of Explorer that Vanguard doesn't understand that. I've got the full story on the recent addition of an eighth manager to the fund, and Vanguard's obfuscation of the matter, in the issue. With a formula focused largely on assets under management rather than performance, you can decide for yourself whether Vanguard's top executives earned their latest Partnership Plan pay hike. Just don't take their multimanagement PR, or Bill McNabb's comments in the semiannual report for Morgan Growth, at face value. Read More »

June 16, 2014

Vanguard's Road to Ruin for Explorer Fund

Will it ever stop? Vanguard announced this morning that it is adding yet another asset manager, Arrowpoint Asset Management, to the cockamamie mess that is Explorer Fund, one of its self-described 'Select' funds. 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 »

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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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