{"id":1034,"date":"2015-07-24T07:59:40","date_gmt":"2015-07-24T12:59:40","guid":{"rendered":"http:\/\/johncbogle.com\/wordpress\/?p=1034"},"modified":"2015-07-24T08:16:18","modified_gmt":"2015-07-24T13:16:18","slug":"memo-to-veterans-and-principals-4","status":"publish","type":"post","link":"https:\/\/johncbogle.com\/wordpress\/2015\/07\/24\/memo-to-veterans-and-principals-4\/","title":{"rendered":"Memo to Veterans and Principals"},"content":{"rendered":"

To:\u00a0\u00a0\u00a0 Veterans and Principals<\/strong>\u00a0<\/strong>
\nDate: December 10, 2014<\/strong>
\nRE:\u00a0\u00a0 VG\/JCB PR<\/strong><\/p>\n

Sorry to delay so long that my usual list of Vanguard news items has reached near-record proportions.
\n 
\n <\/p>\n

    \n
  1. Jason Zweig in The Wall Street Journal<\/em>, appraising this triumphant year for the S&P 500 Index<\/a><\/strong> with a sort-of-warning from me.<\/li>\n<\/ol>\n

     <\/p>\n

      \n
    1. In \u201cThe Best Books for Investors<\/a><\/strong>,\u201d Jason selects 15 of his favorites. I\u2019m pleased to see that my Common Sense on Mutual Funds<\/a><\/em><\/strong> merited such distinguished company.<\/li>\n<\/ol>\n

       <\/p>\n

        \n
      1. On \u201cMoney Life with Chuck Jaffe<\/a><\/strong>,\u201d this popular financial commentator reviews the highlights of a recent two-part interview.<\/li>\n<\/ol>\n

         <\/p>\n

          \n
        1. \u201cJohn Bogle on why your retirement plan stinks<\/a><\/strong>.\u201d (Not my words!) Blogger Mitch Tuchman endorses my ideas on the importance of investment costs.<\/li>\n<\/ol>\n

           <\/p>\n

            \n
          1. An Editor\u2019s Note in Investment News<\/a><\/em> (\u201cThe Comeback Kid?<\/strong>\u201d) compares my 1974 firing from Wellington Management Company (Result: Vanguard!)<\/strong> with the recent firing of PIMCO founder Bill Gross. Here, I salute Bill\u2019s (well-deserved) status as a legend.<\/li>\n<\/ol>\n

             <\/p>\n

              \n
            1. Barron\u2019s<\/em> journalist Lewis Braham examines \u201cWhy the Pros Can\u2019t Pick ETFs.<\/a><\/strong>\u201d (Surprise!) He backs up his report with independent data that enforces my consistent thesis that excessive trading activity damages investor returns.<\/li>\n<\/ol>\n

               <\/p>\n

                \n
              1. \u201cBogle Distrusts Corporate Earnings<\/a><\/strong>\u201d is a post from \u201cThe Guru Investor\u201d expressing my concerns about the accuracy of reported corporate earnings, and the dangerous focus on short-term volatility in the stock market (especially in the S&P 500).<\/li>\n<\/ol>\n

                 <\/p>\n

                  \n
                1. This three-part report on the Bogleheads\u2019 visit to Vanguard<\/strong> (in late October), written by journalist Nora Morrison for \u201cThe Street,\u201d will give you some interesting (I think) and amusing (I\u2019m sure) insights into that regular annual gathering of our biggest fans. (BH XIII.)<\/strong><\/li>\n<\/ol>\n

                  Part 1.<\/strong><\/a> Part 2.<\/strong><\/a> Part 3.<\/strong><\/a><\/p>\n

                   <\/p>\n

                  Phew! Enjoy (when you have the time).<\/p>\n

                   <\/p>\n

                  Best,<\/p>\n

                  Jack<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

                  To:\u00a0\u00a0\u00a0 Veterans and Principals\u00a0 Date: December 10, 2014 RE:\u00a0\u00a0 VG\/JCB PR Sorry to delay so long that my usual list of Vanguard news items has reached near-record proportions.     Jason Zweig in The Wall Street Journal, appraising this triumphant year for the S&P 500 Index with a sort-of-warning from me.   In \u201cThe Best […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[15,5],"tags":[],"class_list":["post-1034","post","type-post","status-publish","format-standard","hentry","category-memos-to-principals-and-veterans","category-press-clippings"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/1034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/comments?post=1034"}],"version-history":[{"count":2,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/1034\/revisions"}],"predecessor-version":[{"id":1037,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/posts\/1034\/revisions\/1037"}],"wp:attachment":[{"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/media?parent=1034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/categories?post=1034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/johncbogle.com\/wordpress\/wp-json\/wp\/v2\/tags?post=1034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}