It was forty years ago last week that Jack Bogle and his new firm The Vanguard Group launched First Index Investment Trust, the world’s first index mutual fund available to retail investors.  Looking back on it from the vantage point of today, you’d probably be surprised at just how difficult the effort turned out to…
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John Bogle, the founder of Vanguard Group Inc., said in a recent interview with Bloomberg Radio that he expects stock and bond returns to be significantly lower than they’ve been throughout his 87 year lifetime. Historically, according to Bogle, the average annual return for stocks has been about 12%, and for bonds it’s been around…
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Oksana Aronov, a managing director at JPMorgan Chase, is recommending against investing in U.S. Treasuries right now, according to Bloomberg News.  Although the ten-year Treasury note is currently yielding 1.58% (at a time when equivalent Japanese and European Central Bank sovereign bonds have negative yields), its real yield (i.e. the yield after factoring in inflation)…
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This blog was prompted by an article in the SJ Mercury News reporting that Jake Peavy, the San Francisco Giants pitcher, had been defrauded out of more than $15M by Ash Narayan, a financial advisor with RGT Capital Management in Irvine, CA. According to the SEC lawsuit, Narayan had fraudulently shifted $33M from client accounts…
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Today’s unexpected vote by U.K. citizens to exit the European Union (EU) has resulted in stock market turmoil worldwide.  Unsurprisingly European stocks have taken a beating.  U.K. stocks dropped over 3%, German stocks over 6%, and in France the CAC-40 plunged over 8%.  Even the Japanese Nikkei fell over 7%, its worst single-day performance in…
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