Will quantum computing seem like reading the future? In the Financial Times, Izabella Kaminska reports that as quantum computing approaches, banks are preparing for the "super powers" the technology will give them. She writes: If you had a sports almanac from the future as did Biff Tannen, the brutish bully of the time-travelling Back to the Future movie trilogy, how might you be inclined to take advantage of the foresight buried within it? The obvious temptation would be to place sure bets in the market that make you rich. In Biff’s case, the wealth is then used to change the world into a … [Read more...]
Fidelity and the Flight to the Suburbs
Back in February, I wrote to you about how I started in the institutional research and trading investment business at Model Roland & Co. on Federal St. in Boston in August 1971. Just up the street from Model were Fidelity Investments, and Wellington Management, both of whom I called on from my very first hours on the job. Over five decades ago, Ned Johnson, aka “Mister Johnson,” ran the show at Fidelity. At Wellington, Jack Bogle, “Mr. Mutual Fund,” had not yet left Wellington to start Vanguard. My focus in the initial going was international research and trading, and remains so … [Read more...]
Are You The Intelligent Investor You Deserve to Be?
When it comes to your money, I want you to be a survivor. As you can see in my table, stocks have declined by over 30% three times already in this young century, and I’m talking about blue-chip stocks in the Dow Jones Industrial Average. When we look at the tech-laden NASDAQ and the S&P 500, declines have been far more precipitous—declines as high as 68% and 55% respectively. Moving forward, your job will be to survive the wreckage. I’m here to help. In my table below, you’ll see the performance of the Vanguard Wellesley and Wellington funds during these tumultuous periods in history. … [Read more...]
The Biggest Part of Successful Stock Investing Is This
You and I are in uncharted waters as we look ahead. The next sixteen years are unknown—but those years will make up a good chunk of your pre-retirement savings or retirement years. Let’s look at the past, in sixteen-year groupings, shall we? (Note: Chart four is only halfway there). As you can see, if you had your choice, you’d want to retire in 1981. But since you can’t do that, there’s plenty to worry about—especially when you start socking away serious money. Why risk it on an all-stocks strategy in your 50s? Your 50s are when you need to be dead serious about smoothing out your … [Read more...]
What Does It Take to Be A Successful Investor/Survivor?
What does it take to be a successful investor? Good question. How about this—what does it take to be a successful survivor? Do you really need the word “successful?” You either are, or you’re not. Right? Being an investor shouldn’t be confused with being a speculator—someone who hopes prices go up. An investor thinks about the work that goes into creating generational wealth. The best way I know how you do that is by being an investor in yourself. I learned a great lesson about being an investor when delivering newspapers as a kid. One of my customers tipped me four nickels for every … [Read more...]
World’s Largest Asset Manager Is Using Your Money for Everything But Profit
BlackRock, the world's largest asset manager, is run by Chairman and CEO Larry Fink. Fink has decided that with the power of his position, he's going to force companies to support his political goals. Is this really who you want running your money? He's acting like it's his money, not yours. Pay attention to what's going on here. Bloomberg's Erik Schatzker and Annie Massa report: If BlackRock Inc.’s Larry Fink ever had second thoughts about injecting his voice into such weighty issues as climate change and voting rights, he doesn’t anymore. “I’ve been very loud at what I’m saying and … [Read more...]
Timeless Wisdom from Vanguard Founder Jack Bogle
With few guarantees in the investment world, here’s one: Avoid companies growing their client base through acquisitions. It’s happening all the time, thanks to consolidation within the industry. But bigger isn’t better, especially when it comes to knowing your customers. Legendary investor and Vanguard founder Jack Bogle spoke about this when he was alive, and I’ve never forgotten it. What Bogle was referring to was the relationship between an investor and an advisor. But that sacred bond was muddled when a bigger company acquired a smaller one simply by writing a big check. Bogle understood … [Read more...]
There Are Plenty of Ways to Invest in This Market
You have plenty of ways to invest in this market if you’re A) dividend-centric (I am) and/or B) looking for a proxy to some of your bonds. Take a look at the charts below and understand what’s happening in the market today. Stocks by Dividend Decile Here you see a breakdown of stocks by dividend yield decile. The 8th Decile, not the tenth, had the better performance from 1975-2020. Caitlin McCabe reports at The Wall Street Journal on today's bull market: A greater number of stocks have been propelling the U.S. market higher lately, a signal that—if history is any … [Read more...]
Work to Make Money/Invest to Save Money
The U.S. government must finally wise up and put an immediate end to the insane double taxation of dividends. The government, facilitated by the Fed, is in an ongoing war to destroy the value of the dollar by printing money beyond any reasonable rate of expansion. Simply take a look at real estate prices to witness the explosion in liquidity. Do not let the government destroy the value of your retirement. Demand that the government ends the double taxation of dividends! Originally posted October 17, 2017. With the exception of the large sums of money that I invested in zero-coupon … [Read more...]
The Vanguard Wellesley Way
Vanguard Wellesley is a fund we have long admired at Young Research. It was once a go-to fund for clients, readers, close friends, and even dear family members. What gave Vanguard Wellesley Income so much appeal? Wellesley is the more conservative and younger cousin of the Vanguard Wellington Fund—the nation’s oldest balanced mutual fund. Over its almost 51-year history, Wellesley has invested an average of 65% in bonds and 35% in stocks. The bonds are primarily intermediate-term investment-grade corporates; the stocks are dividend-paying blue-chip names. Wellesley’s Baptism by … [Read more...]
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