- I'm pleased to finally announce that my book "The Peaceful Investor" is available at Amazon. The web site for the book is Peacefulinvestor.com and I've made about half the book including the first ten chapters available online at http://investorhome.com/peaceful-investor/. Many of the online chapters include additional graphics and material, and I've posted all of the notes and links for the whole book, so those that buy the book can easily access all the references and material.
- I've been reviewing investment books since 1996 when I originally signed up with Amazon's Associate program. In a new post (and video) about The Top Five Investment Books That I Recommend, I summarize what I consider to be the best overall investment books and discuss how the investment industry has evolved since many of the classics were first published. I also discuss (in the 2nd part of the video) how The Peaceful Investor expands on the primary lessons from those books and weaves in recent developments in investment products and services.
- In 1997 I started blogging about the battle between Vanguard and Fidelity for the largest mutual fund. In 2000 Vanguard's index fund took that title from Magellan. Since then passive management and index funds have continued to expand and increase their market share relative to active managers and funds. In the new post (and video) I discuss Why Index Funds are Killing Active Funds.
- Freebies, Falling Fees, and Fines & what do icebergs have to do with investing? is another new post discussing some recent developments in the investment business, like free trading at the major discount brokers, a fine for the firm that started the free trading wave, falling costs at some of the biggest fund companies, and the big picture of investment costs.
- I was a little too optimistic last year about when I would be updating this web site (OK, maybe a lot). It's taken longer than I expected to complete the book that I have been working on for many years. As a result, I neglected updating this site as frequently as I should have. But now that I am nearly finished with the book, its time to update and refresh InvestorHome.
- Jack Bogle passed away on January 16, 2019. There have been many, many tributes, but I wanted to add my thoughts on the enormous impact Bogle had. I've created a few pages with links to many of the articles and commentary, as well videos, audio interviews, and quotes about Bogle. See Tributes to Jack Bogle and Jack Bogle's Legacy. I had been planning to modernize the site, but Bogle preached simple and cheap, so at least for now, I'm keeping everything in simple html.
- Last year, NYU, MIT, and the CFA Institute held a conference focusing on the 10-year anniversary of the Global Financial Crisis. At this link on the CFA website you can watch the many sessions. I was intrigued by Antoinette Schoar's 21 minute presentation and Andrew Lo's 15 minute intro should be particularly interesting for those following these crisis narratives
- Crisis was all about subprime mortgage lending
- Policy and lower lending standards were at fault
- Bankers didn't have enough skin in the game
- No one saw this coming
- Devotion to market efficiency caused the crisis
- Changes in SEC regulation allowed huge increases in leverage
- 2019 has been a good year for investors so far, but 2018 was a disappointing year for most investors. Stock indexes dropped and most bond funds generally had losses as interest rates rose. Investing in the S&P 500 resulted in a more than -4% loss, while US equity mutual funds were even weaker, and international stock funds generally had even larger losses (see Morningstar's Data). In other words, most investors had negative returns for the year from their investments, plus their costs added to those losses. I'll be elaborating on that in my forthcoming book.
- Wishing everyone a happy, healthy, and peaceful 2018. I plan to update much of the site and add some new features over the next few months, so feel free to check back here every once in awhile or follow me on Twitter.
- 2017 was another good year for most investors. Stocks did better than most expected with international stocks and emerging market indexes in particular outperformed U.S. stocks. Despite the expected increases in interest rates by the Federal Reserve, the 10-year Treasury note interest rate actually ended the year at 2.409%, down from 2.446% at the end of 2016 (per the WSJ).
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