How to Manage a Mutual Fund Company

I’ve been an approved DFA advisor since 2006.  I’ve always been proud to be associated with what those of us “in the know” know to be the best mutual fund company on the planet.  And I always knew that we were few-and-far-between.  But I had no idea that of the relatively small percentage of advisors Read more about How to Manage a Mutual Fund Company[…]

The Old Normal is Scary Enough

Evan Simonoff reports “If the New Normal prevails—meaning a 4.5% real annualized rate of return on equities and a 1.5% real returns on bonds—then standard retirement rules like Bill Bengen’s 4.5% withdrawal rate for retirees and a 15% savings rate for workers won’t cut the mustard.” Read the full article >>

Fearful of Rising Interest Rates? Try this!

This Vanguard whitepaper discusses the use of global bonds in a rising-rate environment. “Although investors cannot control when and by how much their domestic interest rates may rise, they can help mitigate the associated risk by more broadly diversifying their fixed income holdings. Christopher B. Philips and Charles J. Thomas show that during periods of Read more about Fearful of Rising Interest Rates? Try this![…]

Charles Ellis: We Can Do Better

“It’s really hard work, and it’s gotten harder and harder and harder every year for the last 50 years because of all those wonderful people who have come into the business. . . . Think of how many people have gotten really good educations that come in to be practitioners and have been provided with Read more about Charles Ellis: We Can Do Better[…]

US Inflation and the Returns in Global Stock and Bond Markets

“This study examines the relation between US inflation and the returns on stock and bond indices. The indices include both US and world ex-US versions. The non-US indices are included to assess the extent to which securities in other countries have been impacted by US inflation. The results indicate that the link between US inflation Read more about US Inflation and the Returns in Global Stock and Bond Markets[…]