While reading your Little Book, I kept wondering about the Wellington Fund. Having read some of your biographies, I have a better perspective on both its role and performance. I have a hard time seeing that it isn’t an exception and no matter how I look at it, it seems to perform as well as can be expected over the long run but in a steadier fashion. Maybe I just don’t have enough data and you can further enlighten me. Regardless, I’ll keep a close lookout for management & style changes.
I’m happy to have discovered this site since as you may have guessed Vanguard is very and increasingly important to my financial interests. I hope your influence continues for a good long time, but TIAA CREF has been an eye opener and underscores the need for vigilance.
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