Bogle on Biggest Risk of Next Financial Crisis

In an interview last month, the founder of Vanguard group told CNBC that the market holds risks “that we don’t even know exist. And that’s the problem. Every crisis is different. Every bear market is different.” But that’s not stopping him from investing, Bogle said, arguing that a buy-and-hold strategy tends to be effective regardless of the economic climate. “If you hold the stock market,” Bogle asserted, “you will grow with America.” The article also… Read More

Bull Market Could End by 2019, Says Guggenheim’s Minerd

In a recent interview with Barron’s, Guggenheim managing partner Scott Minerd said he sees upside for U.S. stocks before a recession hits in late 2019 or 2020 that will “derail this mighty market and prove painful for bonds.” He is bullish on international stocks and active management, particularly in fixed income. Here are some highlights from the interview: Valuation is “poor timing tool” says Minerd. “Looking at corporate credit and high yield, valuations are rich.… Read More

Doll Bullish on Stocks

The S&P 500 inched up another 1.2% last week and, according to a Barron’s article by Bob Doll of Nuveen Asset Management, while equities are expensive on a historical basis they are still an attractive alternative to bonds and cash. Doll outlines his take on current market conditions: The Fed will probably raise rates in December, provided “economic growth remains on track and the global financial system does not endure an additional shock.” U.S. inflation… Read More