In 2016 Youngresearch.com published a number of posts our readers loved, but this one "You Need to Know Why I Love Vanguard GNMA," was your favorite. I wrote this piece only a short time ago on December 16, but even in that short period it has garnered more pageviews than any other post this year. Here is the piece again in full: Good morning from Newport, RI where at 5:22 am it’s 11 degrees outside, 1-3 inches of snow are expected, and with the wind it feels like -5. In Bartlett, NH my iPhone says it’s -6 outside with the wind blowing 29 mph making it feel like it’s -34. It’s cold outside. … [Read more...]
They Trusted Him and He Lost $25 Million
Here's yet another example of a hedge fund losing money courtesy of the Boston Globe: When MBTA Retirement Fund board members met in March 2007 to consider sinking $25 million into a hedge fund, several of them weren’t convinced it was a smart move. They wondered whether the fund was too risky, too expensive, or even a good match for that slice of pension money, records recently obtained by the Globe show. But a month later, the board’s executive director at the time, Michael Mulhern, recommended that they commit to the investment. He cited the “level of trust’’ they all had in the man … [Read more...]
You Need to Know Why I Love Vanguard GNMA
Good morning from Newport, RI where at 5:22 am it’s 11 degrees outside, 1-3 inches of snow are expected, and with the wind it feels like -5. In Bartlett, NH my iPhone says it’s -6 outside with the wind blowing 29 mph making it feel like it's -34. It’s cold outside. But just like any other day, here I am writing to you. And that’s how I want you to think about your portfolio and one position in particular. If you own Vanguard GNMA you might be wondering if the winter vortex is upon you. You may be wondering if this is a time to sell, or, maybe this is a buying opportunity. I don’t want you … [Read more...]
The Cuba Trade
Here MarketWatch reports that Fidel Castro’s death is causing the shares of a Cuba related mutual fund to soar. Investors in a fund with the ticker symbol “CUBA” cheered Monday, as the share price surged in active trade in the wake of Fidel Castro’s death over the weekend. The Herzfeld Caribbean Basin Fund Inc. doesn’t directly invest in Cuban businesses, but it could if that becomes possible. In the meantime, it invests in companies that are likely to benefit from “economic, political, structural and technological developments” in the Caribbean Basin, according to the fund … [Read more...]
There is Only One Vanguard
We are often asked why we like Vanguard and Fidelity. Below is an excerpt from the February 2014 issue of Richard C. Young's Intelligence Report in which Dick Young explains his history with Jack Bogle, founder of the Vanguard Group. As we all know, there is only one Vanguard. P.P.S. In 2014, investors poured $216 billion into the Vanguard Group, which today is #1 in index-tracking products. I have been with Vanguard from the start. Vanguard founder Jack Bogle was at Wellington Management back in the early seventies in Boston. Wellington was an institutional account of mine in the years I was … [Read more...]
One of World’s Largest Traders won’t Touch These Funds
Virtu Financial, one of the world’s largest electronic market makers says it won’t touch bond ETFs because they are too hard to trade. Bond ETFs have become increasingly popular over recent years. Many individual investors have been flocking to bond ETFs. They are a major component of robo-advisor portfolios. Bloomberg reports that assets have increased five-fold since January of 2010 to about $600 billion. So why is one of the world’s largest traders avoiding this booming market? From Bloomberg: One of the world’s largest electronic market makers won’t touch increasingly popular … [Read more...]
Vanguard is Crushing it in ETFs
Vanguard is crushing the competition in ETFs. State Street and iShares were the early movers in ETFs, but after a late start, Vanguard has come on strong. Vanguard is now the second largest ETF provider in the U.S., with $483 billion under management and it is winning the inflows race among big providers YTD (+11.6%). You won't find Fidelity among the list of top ETF providers yet, but a slew of new listings and an assets under management base of over $2 trillion make Fidelity an up and coming contender. The graphic below comes courtesy of the crack Bloomberg Brief ETF team. … [Read more...]
What to Do about Vanguard GNMA: Part II
What should you do about Vanguard GNMA? Let’s change the question. What should you do about your house or an investment property when there’s a change in price? Answer: not much. "Think about your GNMA fund as you would a piece of income property. For a landlord, it’s a waste of time to worry about the price you could get for the property from month to month. The monthly rents are what pay the bills. GNMA is your triple-decker. Why sell it? You need the rent money.” I wrote that to you back in March of 2013. And guess what GNMA did? Well, it took a nose dive of course. Sorry. Yup, it kept … [Read more...]
The Revealing Truth About Funds, Mutual and Hedge
Mutual funds have seen their heyday, which means they should begin a decades-long slow decline. Hedge funds have gotten away with savaging minimal investment acuity investors with a 2% and 20% fee basis for decades, and now have been exposed for the “Robber Barons” they are. The flight to reality is on. The hedge crowd figures to become an increasingly unpleasant scourge at tony suburban country clubs. Oh well, better days for a more enlightened investor lie at hand. Back in 1989, with the benefit of inference reading and 25 years of on-the-ground experience in the international investment … [Read more...]
Vanguard’s Best Performing ETFs
Here's a shocker, and a stomach churner for all those who abandoned bonds completely for what were believed to be the greener pastures of the stock market. [inlinetweet prefix="" tweeter="" suffix=""]Three out of the five best performing Vanguard ETFs YTD are bond ETFs.[/inlinetweet] That's right, boring ole bonds, not stocks, are this year's big winners. The Vanguard Extended Duration ETF is up 18.48% YTD. The Vanguard Long-term Bond ETF and the Long-term Corporate ETF are up almost 14%. The only two equity funds that made the top five were Energy and Utilities--both were laggards last … [Read more...]
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