http://rss.vanguard.com/pod/investment.xml A monthly series offering perspectives on events and trends affecting the economy, the financial markets, and investment management. Tue, 27 Oct 2009 12:05:25 EDT The Vanguard Group 15 Vanguard Vanguard Investment Commentary is a monthly podcast series from Vanguard A monthly series offering perspectives on events and trends affecting the economy, the financial markets, and investment management. A monthly series offering perspectives on events and trends affecting the economy, the financial markets, and investment management. The Vanguard Group plaintalk@vanguard.com en-us no http://personal.vanguard.com/us/home http://personal.vanguard.com/web/frsh_images/vanguard_IC_300x300.jpg 300 300 https://personal.vanguard.com/web/audio/PodICStableValue09292009.mp3 Wed, 14 Oct 2009 10:41:08 EDT Vanguard no 8:01 graef,stable,value An episode from Vanguard’s Investment Commentary podcast series Market turmoil during the past few years has made stable value funds all the more attractive—even raising the possibility of using them as a qualified default investment alternative (QDIA) for defined contribution retirement plans. In recent testimony in Washington, Susan Graef, the head of Vanguard’s Stable Value Management Group, opposed adopting stable value funds as standalone QDIAs and urged greater risk disclosure. Here, Ms. Graef discusses considerations around adding a stable value fund to a plan lineup, the silver lining in the current low-yield environment, and where she expects the testimony may lead. Market turmoil during the past few years has made stable value funds all the more attractive—even raising the possibility of using them as a qualified default investment alternative (QDIA) for defined contribution retirement plans. In recent testimony in Washington, Susan Graef, the head of Vanguard’s Stable Value Management Group, opposed adopting stable value funds as standalone QDIAs and urged greater risk disclosure. Here, Ms. Graef discusses considerations around adding a stable value fund to a plan lineup, the silver lining in the current low-yield environment, and where she expects the testimony may lead. https://personal.vanguard.com/web/audio/PodICStableValue09292009.mp3 https://personal.vanguard.com/web/audio/PodICBonds09092009.mp3 Wed, 9 Sep 2009 09:09:47 EDT Vanguard no 6:50 auwaerter,bond, credit, recovery, economy, market, turmoil, trends, outlook, recovery, global An episode from Vanguard’s Investment Commentary podcast series There’s been a lot of talk in the media lately that the recession has ended but that the economic recovery process will be a long one. Bob Auwaerter, head of Vanguard’s fixed income operations, discusses what will be different from previous recoveries. He also provides commentary on the outlook for the bond and credit markets, as well as what the Federal Reserve’s next move may be. Bob and his team provide portfolio management and credit research and analysis for all of the bond and money market funds managed by Vanguard’s Fixed Income Group. There’s been a lot of talk in the media lately that the recession has ended but that the economic recovery process will be a long one. Bob Auwaerter, head of Vanguard’s fixed income operations, discusses what will be different from previous recoveries. He also provides commentary on the outlook for the bond and credit markets, as well as what the Federal Reserve’s next move may be. Bob and his team provide portfolio management and credit research and analysis for all of the bond and money market funds managed by Vanguard’s Fixed Income Group. https://personal.vanguard.com/web/audio/PodICBonds09092009.mp3 https://personal.vanguard.com/web/audio/PodICFedResponseWessel08132009.mp3 Thu, 20 Aug 2009 14:48:13 EDT Vanguard no 14:38 wessel, federal reserve, fed, economy, market, turmoil, trends, outlook, recovery, global A special episode from Vanguard’s Investment Commentary podcast series In this podcast, David Wessel, economics editor of The Wall Street Journal, discusses the Federal Reserve Board’s response to the "Great Panic," the crisis that has reverberated through global financial markets and economies over the past 18 months. In this podcast, David Wessel, economics editor of The Wall Street Journal, discusses the Federal Reserve Board’s response to the "Great Panic," the crisis that has reverberated through global financial markets and economies over the past 18 months. https://personal.vanguard.com/web/audio/PodICFedResponseWessel08132009.mp3 https://personal.vanguard.com/web/audio/PodICMuniBonds08122009.mp3 Tue, 18 Aug 2009 19:36:06 EDT Vanguard no 8:08 alwine, municipal, bonds, state budget, economy, market, turmoil, trends, outlook, recovery, global An episode from Vanguard’s Investment Commentary podcast series Municipal bonds have enjoyed a strong rally since last year, leading many to wonder if their performance can continue. Chris Alwine, head of Vanguard’s municipal bond fund operations, looks at the recent run and provides his thoughts on the current and future state of the municipal bond market. He also examines the budgetary pressures facing many state and local governments and the impact on the bonds these governments issue. Chris and his team provide portfolio management and credit research and analysis for Vanguard’s tax-exempt bond funds. Municipal bonds have enjoyed a strong rally since last year, leading many to wonder if their performance can continue. Chris Alwine, head of Vanguard’s municipal bond fund operations, looks at the recent run and provides his thoughts on the current and future state of the municipal bond market. He also examines the budgetary pressures facing many state and local governments and the impact on the bonds these governments issue. Chris and his team provide portfolio management and credit research and analysis for Vanguard’s tax-exempt bond funds. https://personal.vanguard.com/web/audio/PodICMuniBonds08122009.mp3 https://personal.vanguard.com/web/audio/PodICEconOutlookRet07212009.mp3 Fri, 24 Jul 2009 14:46:31 EDT Vanguard no 12:23 davis,stocks,economy,markets,lemco,global An episode from Vanguard’s Investment Commentary podcast series Some economies around the world are seeing signs of recovery, while others are still struggling. In this podcast (adapted from a video on the same topic), Vanguard chief economist Joe Davis and global market analyst Jonathan Lemco discuss different regions and their outlooks for the rest of 2009. Some economies around the world are seeing signs of recovery, while others are still struggling. In this podcast (adapted from a video on the same topic), Vanguard chief economist Joe Davis and global market analyst Jonathan Lemco discuss different regions and their outlooks for the rest of 2009. https://personal.vanguard.com/web/audio/PodICEconOutlookRet07212009.mp3 https://personal.vanguard.com/web/audio/PodICPrinciplesEndure06172009.mp3 Wed, 17 Jun 2009 08:26:31 EDT Vanguard no 9:11 gordon, investing,retirement,diversification,asset allocation An episode from Vanguard’s Investment Commentary podcast series Nothing challenges investors’ assumptions like a down market. But how has the past year affected investing principles such as asset allocation and diversification? In this podcast, Catherine Gordon, head of Vanguard Institutional Advisory Services™, offers perspective on the financial markets, discusses positioning and rebalancing portfolios, and reviews some lessons that investors can take away from this period. Nothing challenges investors’ assumptions like a down market. But how has the past year affected investing principles such as asset allocation and diversification? In this podcast, Catherine Gordon, head of Vanguard Institutional Advisory Services™, offers perspective on the financial markets, discusses positioning and rebalancing portfolios, and reviews some lessons that investors can take away from this period. https://personal.vanguard.com/web/audio/PodICPrinciplesEndure06172009.mp3 https://personal.vanguard.com/web/audio/PodICRetirement05132009.mp3 Wed, 13 May 2009 18:16:20 EDT Vanguard no 11:34 ameriks, investing,retirement, An episode from Vanguard’s Investment Commentary podcast series Market declines over the past two years have shrunk retirement savings by $2 trillion, causing concern for many investors. In this podcast, John Ameriks head of Vanguard Investment Counseling & Research, discusses investment strategies for those in or near retirement. Market declines over the past two years have shrunk retirement savings by $2 trillion, causing concern for many investors. In this podcast, John Ameriks head of Vanguard Investment Counseling & Research, discusses investment strategies for those in or near retirement. https://personal.vanguard.com/web/audio/PodICRetirement05132009.mp3 https://personal.vanguard.com/web/audio/PodICMuniBondUpdate04082009.mp3 Wed, 8 Apr 2009 13:37:19 EDT Vanguard no 13:00 alwine, muni bonds, recession, tax-exemp, treasury An episode from Vanguard’s Investment Commentary podcast series Tax-exempt bond yields have been higher than Treasury yields for most of the past year, an unusual situation reflecting extraordinary market conditions. Investors' aversion to risk has spilled over into the municipal bond market, an area that historically has exhibited high quality and low volatility. In this 13-minute podcast, Chris Alwine, head of Vanguard's Municipal Bond Group, reviews the recent performance of municipal bonds and discusses how the recession may affect the outlook for their near-term and longer-term performance. Tax-exempt bond yields have been higher than Treasury yields for most of the past year, an unusual situation reflecting extraordinary market conditions. Investors' aversion to risk has spilled over into the municipal bond market, an area that historically has exhibited high quality and low volatility. In this 13-minute podcast, Chris Alwine, head of Vanguard's Municipal Bond Group, reviews the recent performance of municipal bonds and discusses how the recession may affect the outlook for their near-term and longer-term performance. https://personal.vanguard.com/web/audio/PodICMuniBondUpdate04082009.mp3 https://personal.vanguard.com/web/audio/PodICGlobalRisk03182009.mp3 Wed, 18 Mar 2009 08:45:18 EDT Vanguard no 11:58 lemco,,risk,global,financial crisis,investments An episode from Vanguard’s Investment Commentary podcast series Having an increasingly integrated global economy means that, when things go wrong, they go wrong on a global scale. Jonathan Lemco monitors the markets and economies of 90 countries around the world as a senior analyst in Vanguard’s Fixed Income Group. In this podcast, he discusses how the financial crisis is playing out around the globe and what it means for the U.S. economy. Having an increasingly integrated global economy means that, when things go wrong, they go wrong on a global scale. Jonathan Lemco monitors the markets and economies of 90 countries around the world as a senior analyst in Vanguard’s Fixed Income Group. In this podcast, he discusses how the financial crisis is playing out around the globe and what it means for the U.S. economy. https://personal.vanguard.com/web/audio/PodICGlobalRisk03182009.mp3 https://personal.vanguard.com/web/audio/PodICTaxes02112009.mp3 Wed, 11 Feb 2009 10:03:58 EDT Vanguard no 10:31 dickson,investments,tax rates,capital gains,tax An episode from Vanguard’s Investment Commentary podcast series Some mutual funds have distributed capital gains for 2008 despite the market downturn, generating media headlines. In this podcast, Joel Dickson, head of Vanguard’s Active Quantitative Equity Department, offers a look beyond the headlines. He suggests keeping an eye on possible changes in the tax code in 2010—changes that could trigger some tax-proofing portfolio moves. Some mutual funds have distributed capital gains for 2008 despite the market downturn, generating media headlines. In this podcast, Joel Dickson, head of Vanguard’s Active Quantitative Equity Department, offers a look beyond the headlines. He suggests keeping an eye on possible changes in the tax code in 2010—changes that could trigger some tax-proofing portfolio moves. https://personal.vanguard.com/web/audio/PodICTaxes02112009.mp3 https://personal.vanguard.com/web/audio/PodICeconoutlook01202009.mp3 Tue, 20 Jan 2009 18:16:11 EDT Vanguard no 12:58 davis,stocks,economy,markets An episode from Vanguard’s Investment Commentary podcast series After a dismal 2008, investors are wondering how much longer the pain will last. In this podcast (adapted from a video on the same topic), Joseph H. Davis, Ph.D., Vanguard’s chief economist, talks with Catherine Gordon about consumer confidence, interest rates, governmental actions, the recession, and the outlook for 2009. When might a recovery occur? After a dismal 2008, investors are wondering how much longer the pain will last. In this podcast (adapted from a video on the same topic), Joseph H. Davis, Ph.D., Vanguard’s chief economist, talks with Catherine Gordon about consumer confidence, interest rates, governmental actions, the recession, and the outlook for 2009. When might a recovery occur? https://personal.vanguard.com/web/audio/PodICeconoutlook01202009.mp3 https://personal.vanguard.com/web/audio/PodICSCapitalMarkets12112008.mp3 Thu, 11 Dec 2008 17:53:22 EDT Vanguard no 9:49 kinniry,stocks,economy,credit,markets An episode from Vanguard’s Investment Commentary podcast series The extreme volatility that has marked this recent economic crisis has drawn comparisons to the Great Depression. But are those comparisons fair? In some ways, this market is quite similar to the period of the late ’20s and early ’30s. But as Fran Kinniry, principal in Vanguard Investment Strategy Group points out, there are important distinctions between the two periods. In this podcast, Mr. Kinniry discusses some of the important differences between this market and the Great Depression, including the actions of the Federal Reserve and the U.S. Treasury as well as the importance of the overall global response. The extreme volatility that has marked this recent economic crisis has drawn comparisons to the Great Depression. But are those comparisons fair? In some ways, this market is quite similar to the period of the late ’20s and early ’30s. But as Fran Kinniry, principal in Vanguard Investment Strategy Group points out, there are important distinctions between the two periods. In this podcast, Mr. Kinniry discusses some of the important differences between this market and the Great Depression, including the actions of the Federal Reserve and the U.S. Treasury as well as the importance of the overall global response. https://personal.vanguard.com/web/audio/PodICSCapitalMarkets12112008.mp3 https://personal.vanguard.com/web/audio/PodICcreditmarket11132008.mp3 Thu, 13 Nov 2008 09:44:40 EDT Vanguard no 10:52 hollyer, stocks, economy, credit, markets An episode from Vanguard’s Investment Commentary podcast series Credit markets around the world froze in September, despite aggressive interventions by the Federal Reserve Board and the Treasury Department. In the wake of the Emergency Economic Stabilization Act of 2008 and other unprecedented responses, including coordinated actions by foreign governments, there are some early signs of a credit thaw. In this 11-minute podcast, John Hollyer of Vanguard’s Risk Management and Strategy Analysis team discusses why he’s optimistic about the future of the credit markets, and how Vanguard’s risk management strategy has performed during the credit crisis. Credit markets around the world froze in September, despite aggressive interventions by the Federal Reserve Board and the Treasury Department. In the wake of the Emergency Economic Stabilization Act of 2008 and other unprecedented responses, including coordinated actions by foreign governments, there are some early signs of a credit thaw. In this 11-minute podcast, John Hollyer of Vanguard’s Risk Management and Strategy Analysis team discusses why he’s optimistic about the future of the credit markets, and how Vanguard’s risk management strategy has performed during the credit crisis. https://personal.vanguard.com/web/audio/PodICcreditmarket11132008.mp3 https://personal.vanguard.com/web/audio/PodICFinancial08142008.mp3 Thu, 14 Aug 2008 10:09:17 EDT Vanguard no 9:12 reckmeyer, financial sector, economy, stocks, An episode from Vanguard’s Investment Commentary podcast series Financial stocks have suffered steep declines over the past year, hurt by the credit crunch and the slumping U.S. housing market. And troubles in the financial sector have contributed to a slowdown in the economy, as businesses and consumers struggle to get loans. In this episode, Mike Reckmeyer, of Wellington Management Company, LLP, talks about the causes of financial sector turmoil, puts the volatility in longer-term context, and discusses the implications for investors. Mr. Reckmeyer comanages Vanguard® Wellesley® Income Fund and Vanguard Equity Income Fund. Financial stocks have suffered steep declines over the past year, hurt by the credit crunch and the slumping U.S. housing market. And troubles in the financial sector have contributed to a slowdown in the economy, as businesses and consumers struggle to get loans. In this episode, Mike Reckmeyer, of Wellington Management Company, LLP, talks about the causes of financial sector turmoil, puts the volatility in longer-term context, and discusses the implications for investors. Mr. Reckmeyer comanages Vanguard® Wellesley® Income Fund and Vanguard Equity Income Fund. https://personal.vanguard.com/web/audio/PodICFinancial08142008.mp3 https://personal.vanguard.com/web/audio/PodICGlobalEcon02082007_hnw.mp3 Fri, 9 Feb 2007 09:43:15 EDT Vanguard no 17:50 davis,podcast,global,outlook An episode from Vanguard’s Investment Commentary podcast series In this episode, Vanguard economist Joseph Davis, Ph.D., shares his insights regarding consensus expectations for the global economy in the year ahead. In this episode, Vanguard economist Joseph Davis, Ph.D., shares his insights regarding consensus expectations for the global economy in the year ahead. https://personal.vanguard.com/web/audio/PodICGlobalEcon02082007_hnw.mp3