Has there ever been a bigger supporter of Vanguard than Dick Young whom, unlike other promoters and hucksters out there today, never had a horse in the race? And could there be a better triple play combo than Wellington Management, Vanguard, and Dick Young’s approval? Vanguard’s low-cost expense ratios, no 12b-1 fees, and its history with Wellington Management were, among other valuable investor tenets, enough to recommend Vanguard to you. Buying Vanguard Wellington and Wellesley was simple. Owning them gave you a balanced portfolio with a stock to bond mix of 60/40 or 40/60. There … [Read more...]
Bearish Concerns on Netflix
Netflix reports earnings after the close today and the Street is looking for another blowout quarter in terms of subscriber growth. Even the bears expect strong numbers, but those street analysts who have the courage to think long-term (there’s only one or two) see challenges in the long-run. As Barron’s reports, the analyst from Webush sees changes in the competitive marketplace that could shake up subscriber loyalty. To wit: Changes in the competitive marketplace could shake up subscriber loyalty. “The combination of less content from Disney (DIS) (pulling the majority of its newer … [Read more...]
War Tensions Driving up LNG Prices
Among the major players in the conflict in Syria are all of the world's top three natural gas producers. The United States, Russia and Iran. Qatar, the world's fourth largest producer, and Saudi Arabia, the world's ninth largest producer have also been linked to rebel groups in the country. Oilprice.com reports that in reaction to heightened tensions and missile strikes in Syria, LNG prices have been soaring. Tim Daiss writes: Also, on Wednesday, Saudi Arabia faced what the Associated Press (AP) called a flurry of attempted attacks by Yemeni rebels. Saudi Arabia’s defense forces said … [Read more...]
Bitcoin Diehards are HODL
"After bitcoin’s frenzied rally last year, prices have lost about two-thirds of their value from a December high. The cryptocurrency had been trading around $7,000 in recent days, although a sharp jump Thursday morning briefly lifted the price above $7,900, according to CoinDesk,” writes Steven Russolillo in the WSJ. “Nonetheless,” he continues, “in the past few months, bitcoin has faded off the front pages of newspapers and it no longer dominates people’s social-media feeds. Global internet searches for the word “bitcoin” have fallen by over 80% from December, according to Google … [Read more...]
Emergency Cash: Bitcoin or Dollars?
Originally posted on December 1, 2017. Bitcoin is being considered by some as their emergency stash. For me, when the power goes out, I prefer having dollars on hand. ATMs will be out of commission, and depending on road conditions, even if my bank is open, I’m not sure I’ll be hitting the streets to make a withdrawal. One of the many hurdles bitcoin faces is frictionless exchange. It doesn’t have the general acceptance by society yet like the dollar, and to achieve that acceptance will be a monumental task. In an emergency situation, I want to be able to have cold hard cash on hand … [Read more...]
Vanguard GNMA and Your Retirement Years
When the financial crisis destroyed the stock market in 2008, guess which fund weathered the storm? You guessed it Vanguard GNMA. When the tech bust destroyed the stock market at the beginning of this century, guess which fund weathered the storm? Right again, Vanguard GNMA. That’s two huge busts in the stock market so far this century. Many mutual funds focus on 10-year performance. As 2018 moves forward into 2019, the brutal losses of 2008 will be rolled off, and investors may not see the risk inherent in stock funds as they make their allocation decisions. But a retirement lasts … [Read more...]
Is the Apple’s HomePod a Flop?
Bloomberg is reporting that the Apple HomePod, Apple’s response to the Amazon Echo, is off to a slow start. In the first 10 weeks of sales, the HomePod has about 10% of the smart speaker market. And much of those sales came upon initial release. Price likely has something to do with the speaker’s slow start. The HomePod is $200 more than most smart speakers. Unless you are an Apple fanboy, it may be difficult to justify the premium price for what is a basic speaker with an inferior voice assistant. At first, it looked like the HomePod might be a hit. Pre-orders were strong, and in the last … [Read more...]
Wellington Management Company
My history with Wellington Management and the Vanguard group goes back decades. I started with Wellington over 40 years ago. The Wellington Fund was founded in 1929 by CPA Walter Morgan to provide investment counsel to his clients. Morgan had the foresight to load the Wellington Fund with fixed-income securities months before the 1929 stock market crash. That decision helped Wellington become the tenth largest in the industry by 1944. In 1951, Morgan hired John Bogle, who would eventually become the firm’s CEO. In 1974, Bogle left Wellington Management and founded the Vanguard Group, … [Read more...]
Can OPEC Get it Right on Oil Production?
OPEC is targeting $80/barrel for oil, but will it be able to get there if it's not estimating the proper amount of non-cartel production? In The Wall Street Journal, Sarah McFarlane and Stephanie Yang report: While cuts from the Organization of the Petroleum Exporting Countries have helped eliminate oversupply of crude oil, the cartel said in its monthly market report that non-OPEC producers such as the U.S. are contributing to rising global supply. ”We still think that the cartel is underestimating non-OPEC supply growth,” said Capital Economics analysts, noting that higher prices will … [Read more...]
Yes, Vanguard is too Big
A gorgeous, sunny, good morning to you from Newport, RI. Isn’t it amazing what a little sun can do to one’s psyche? Last week I told you how my SEP-IRA contribution was incorrectly deposited to my traditional IRA by Vanguard. Lucky for me, I caught their mistake early and avoided a potential paperwork hassle come tax-time next year. I chalked the error up to the fact that Vanguard is in the transaction business and mistakes happen. But in thinking about the issue further, I probably caught their mistake because I do this for a living. Which makes me wonder: is the average investor paying … [Read more...]
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