49 Reasons You Shouldn’t Sell Your Stocks Today

Published on . Posted in Editorial

When Mike Tyson was asked about an opponent's supposedly clever plan for protecting against his devastating left hook, he had an immediate response: Everybody has a plan until they get punched in the mouth. Tyson probably wasn't thinking much about investing when he made the observation above, but his words are just as applicable to retirement planning as they are to boxing. Continue reading →

The Worst Mutual Fund in the World

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Based on the mountains of evidence illustrating the futility of active management, I am generally skeptical of non-indexed investment products. There is no shortage of targets for derision among the thousands of mutual funds; countless products charge sky-high fees in exchange for disappointing, benchmark-lagging results.  Continue reading →

The Market Is Not Rigged (Just Ask Rocky Balboa)

Published on . Posted in Editorial

Over the past few years, hundreds of financial headlines have made what seems like a devastating declaration: the stock market is rigged. This is not a fringe conspiracy theory swirling among gold bugs and perma-bears; it's been plastered in the headlines of major financial publications. Google returns about 655,000 results for the search query "stock market is rigged" (approximately 534,000 results are returned for "max out a 401k").  Continue reading →

Pension Funds Are Their Own Worst Enemy (and a Boglehead’s Worst Nightmare)

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Chicago is now a junk bond issuer, thanks primarily to its several underwater pension funds. The Chicago Policemen's Annuity and Benefit Fund (CPABF) is facing some long odds; at the end of 2013 (the last year for which an annual report is available), it was less than 30 percent funded. But that hasn't stopped the CPABF from putting on a clinic in portfolio management. Dive in, Bogleheads: you just might learn something about investing.  Continue reading →