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NEWS
October 9, 2012
DEAR HARRY : My father showed me an article about John Bogle (he's the guy who founded Vanguard Funds) in which Bogle once again promoted index funds. I have been an investor in no-load funds ever since I heard your favorable opinion at least 10 years ago. But I have never really understood why going for the "average" of a group (as you do in index funds) is better than going for a policy of beating the average. Don't we all hope that we can do better than the market average? Should I go for Bogle's advice, or should I look for the funds or individual stocks that have a good history and good prospects?
BUSINESS
April 13, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
"I suppose you're the enemy," John C. Bogle, founder of Malvern-based Vanguard Group and that rare creature, an investment celebrity, told the crowd of bargain-hunting stock-pickers in an ornate ballroom in New York's Plaza Hotel. Bogle was onstage for a "Great Debate" vs. his host, Jim Grant, Federal Reserve-bashing, gold-loving publisher of Grant's Interest Rate Observer , a contrarian investors' bible. The two squared off over Bogle's once-radical, now-mainstream proposition that even professional securities pickers can't beat market indexes like Standard & Poor's list of the 500 major U.S. stocks.
BUSINESS
March 20, 2011 | By Gail MarksJarvis, Chicago Tribune
It's that time again, the time of year when insecurities about the stock market and busy schedules drive people to experts for help doing taxes and picking mutual funds for IRAs. While time is a valid concern for most Americans, many investors should not feel so insecure about choosing mutual funds. They could do it on their own with simple mutual funds called index funds and save money, too. Savvy managers of giant pension funds increasingly use low-cost index funds as core investments.
BUSINESS
April 4, 2000 | By Miriam Hill, INQUIRER STAFF WRITER
When the American Stock Exchange developed a product pegged to a stock index, it approached Vanguard Group founder and then-chairman John C. Bogle in the early 1990s about distributing these exchange-traded funds. Bogle declined. He thought the new investment vehicle, which could be bought or sold like a stock, would encourage too much trading and drive up costs. When Vanguard passed, other investment firms jumped in and, within the past few years, exchange-traded funds (or ETFs)
NEWS
July 1, 2005 | By Nancy Petersen INQUIRER STAFF WRITER
The Chester County Retirement Board authorized yesterday moving $12 million in its pension fund from three of its underperforming money managers into a large-cap growth index fund. The sector "is beginning to accelerate," said Vincent T. Lowry, of VTL Associates Inc., the board's adviser. He said the shift will help balance a portfolio that at this point is overweight in large-cap value stocks. The board's decision is a first step in what will likely become a major shift to lower-cost index funds if it follows Lowry's long-range plan.
BUSINESS
August 3, 2003 | By Joseph N. DiStefano INQUIRER STAFF WRITER
There's a sword on the wall of his office in Cherry Hill, and a bullwhip, and a pair of battle-axes. As president of one of the Philadelphia area's largest labor unions, Anthony R. Cinaglia cultivates a confrontational reputation. But Cinaglia's latest target is not the region's supermarkets, meatpackers or nursing homes, where his United Food and Commercial Workers Local 56 represents more than 13,000 workers. It is the professional stock- and bond-pickers who dominate the nation's money-management business.
BUSINESS
July 16, 1995 | By Dan Stets, INQUIRER STAFF WRITER
When facing the confusing world of equity mutual funds, the individual investor can simplify decisions - and do pretty well - by focusing on three categories of funds: index funds, glamour funds and sector funds. Index funds invest in various stock indexes: the Standard & Poor's index of 500 stocks, a small-stock index or even a foreign-stock index. These funds are as warm and cuddly as a computer, which is what investment companies use to manage them, but they have results better than the vast majority of equity funds.
BUSINESS
March 23, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
Gov. Wolf is trying to push Wall Street out of Harrisburg. He wants the two big employee retirement systems, SERS (for state workers) and PSERS (for public school staff), to reverse their long reliance on high-fee managers. These firms collected more than $600 million in fees from the plans last year - plus a share of liquidation profits from the state's private-equity investments, which Pennsylvania doesn't count. Despite all the creative investing, years of underfunding have left SERS and PSERS with multibillion- dollar gaps between the assets they own and the checks they will owe. The shortfall has been addressed in recent years by increasing taxpayer "contributions," which Wolf wants to stabilize.
BUSINESS
October 7, 2012 | By Mark Jewell, Associated Press
BOSTON - Index mutual fund investors are a cost-conscious bunch. Rather than seek out managers with a good shot at beating the market, they parse tiny differences in fund expenses. Index funds are cheaper because no one is being paid to pick stocks. Every cent that doesn't end up in someone else's pocket counts, the thinking goes. If that's your mindset, you'll want to pay attention to an aspect of index fund expenses that's drawing greater scrutiny: fees that fund companies pay to license benchmark indexes.
NEWS
August 2, 2011 | By Kara Mcguire, MINNEAPOLIS STAR TRIBUNE (MCT)
Most teens are thinking about how to stretch their money until next payday. Jack Alexander is focused on a plan for his money come 2051. The 18-year-old from Plymouth, Minn., placed first in a national essay contest that asked him how he would invest $100,000 if he were about to embark on a 40-year space mission. It's not a question many teens could answer. But Alexander, an investment buff whose love for the stock market started when his dad opened a brokerage account with him when he was 11, knew just what to do. He learned about selecting mutual funds and reading stock charts in his investing class in high school.
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BUSINESS
April 13, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
"I suppose you're the enemy," John C. Bogle, founder of Malvern-based Vanguard Group and that rare creature, an investment celebrity, told the crowd of bargain-hunting stock-pickers in an ornate ballroom in New York's Plaza Hotel. Bogle was onstage for a "Great Debate" vs. his host, Jim Grant, Federal Reserve-bashing, gold-loving publisher of Grant's Interest Rate Observer , a contrarian investors' bible. The two squared off over Bogle's once-radical, now-mainstream proposition that even professional securities pickers can't beat market indexes like Standard & Poor's list of the 500 major U.S. stocks.
BUSINESS
March 23, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
Gov. Wolf is trying to push Wall Street out of Harrisburg. He wants the two big employee retirement systems, SERS (for state workers) and PSERS (for public school staff), to reverse their long reliance on high-fee managers. These firms collected more than $600 million in fees from the plans last year - plus a share of liquidation profits from the state's private-equity investments, which Pennsylvania doesn't count. Despite all the creative investing, years of underfunding have left SERS and PSERS with multibillion- dollar gaps between the assets they own and the checks they will owe. The shortfall has been addressed in recent years by increasing taxpayer "contributions," which Wolf wants to stabilize.
BUSINESS
September 16, 2014 | By Erin E. Arvedlund, Inquirer Columnist
If you are unhappy with fees charged by active money managers, stop paying them. Low-cost index funds track the stock market, say Mitch Tuchman and Charley Ellis at ReBalance IRA. "There hasn't been a five-year period in over six decades when a 50-50 stock-and-bond portfolio has not shown a positive return," said Tuchman, of Palo Alto, Calif. "If you own markets through indexing, your portfolio always recovers in a correction. There is a way to really win at this game - by playing not to lose.
BUSINESS
June 2, 2013 | By Steve Garmhausen, Associated Press
The mutual fund industry is forever trying to build a better mousetrap - with mixed results. Index funds were once a novelty, but pioneers such as Vanguard 500 brought about a new standard for low costs, tax efficiency, and solid performance. Target-date funds, too, were once the next big thing, but losses as high as 45 percent during the 2008 crash gave the category a black eye. The latest contender to be a better mousetrap is known as the risk-parity fund. Just four years after its debut, the new breed of funds has already attracted nearly $30 billion in assets - $16 billion of that in the last year, according to Lipper.
NEWS
March 11, 2013
Josh Shapiro is the Montgomery County commissioners chairman and serves as chairman of the county's pension board When trying to pare budgets and be more efficient, go where the money is. That's why Montgomery County, the commonwealth's third most populous county, closely examined the costs associated with our $450 million public employee pension fund. Public pensions are an area of significant potential savings, and of particular importance to state and local governments around the country.
BUSINESS
February 10, 2013 | By Mark Jewell, Associated Press
Are there guns in your investment portfolio? Gun control is the kind of issue that can wake you up to the fact that the money in your fund portfolio or 401(k) affects more than just your retirement security. The financial markets support all kinds of companies, including some you might not believe contribute to the greater good. Removing investments from a portfolio on moral grounds isn't always a simple matter. There are potential costs to putting principles before profits. Over the last 10 years, Smith & Wesson has posted an average annualized return of 17 percent, compared with the 8 percent return of the broader market.
NEWS
October 9, 2012
DEAR HARRY : My father showed me an article about John Bogle (he's the guy who founded Vanguard Funds) in which Bogle once again promoted index funds. I have been an investor in no-load funds ever since I heard your favorable opinion at least 10 years ago. But I have never really understood why going for the "average" of a group (as you do in index funds) is better than going for a policy of beating the average. Don't we all hope that we can do better than the market average? Should I go for Bogle's advice, or should I look for the funds or individual stocks that have a good history and good prospects?
BUSINESS
October 7, 2012 | By Mark Jewell, Associated Press
BOSTON - Index mutual fund investors are a cost-conscious bunch. Rather than seek out managers with a good shot at beating the market, they parse tiny differences in fund expenses. Index funds are cheaper because no one is being paid to pick stocks. Every cent that doesn't end up in someone else's pocket counts, the thinking goes. If that's your mindset, you'll want to pay attention to an aspect of index fund expenses that's drawing greater scrutiny: fees that fund companies pay to license benchmark indexes.
BUSINESS
October 4, 2012
IN THE REGION TD Bank, Wells Fargo tops in deposits TD Bank N.A. and Wells Fargo Bank N.A. were neck and neck as the largest banks by local deposits in the eight-county Philadelphia region, according to annual data released by federal regulators Tuesday. As it normally does this time of year, the Federal Deposit Insurance Corp. issued deposit data for all banks as of June 30. The Inquirer calculated local deposits for a region composed of Bucks, Chester, Delaware, Montgomery and Philadelphia Counties in Pennsylvania; and Burlington, Camden and Gloucester Counties in New Jersey.
BUSINESS
May 16, 2012 | Freelance
Chesapeake Energy's meltdown has crippled its share price and that of a subsidiary. It's a case study in how risky it can be to invest in one stock. It also shows how energy exchange-traded funds can help blunt the effects of one company's implosion. As is now well-known, Chesapeake Energy's chief executive, Aubrey McClendon, took out more than $1 billion in shrouded personal loans backed by assets of the public company — and investors have demanded he step down as chairman.
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