Oneslip

Vanguard's Sauter: Avoid Irrational Exuberance with Alternatives

I'm not saying you should invest with your head in the sand, but a passive, proper allocated portfolio makes a lot of sense. I would say congratulations to Roger Schreiner on his past performance but it is very easy in this volatile market to be on the wrong side of a trade or theory. For the average investor to have a low cost, properly allocated portfolio that they are dollar cost averaging & reinvesting the div-cap gains has one factor not to worry about- an investment manager making a wrong turn in the market and charging excessive fee's. I'm not saying a manager cannot add some value but in all the research I have done finding the right one is the issue especially when the right one can turn into the wrong one. I think a lot depends on what your expectations are and time frames. This is a great short term trading market & yes, if you are a long term investor you are buying the averages at a much lower price and if your time horizon is long enough I'm sure you will benefit even if the market continues to trend down and stay there for a long period. An L shaped recovery is not out of the question.