Screens display a tribute to Jack Bogle, founder and retired CEO of the Vanguard Group, on the floor of the New York Stock Exchange. (Brendan McDermid/Reuters)
Dear Valued Subscriber,
Since the last newsletter legendary investor John Clifton "Jack" Bogle passed away at 89 and leaves investors with a grandiose legacy. In his last interview on CNBC (September 12, 2018) he tells us to avoid timing the market.
The $4 trillion dollar asset management firm and top branded fiduciary player, Vanguard, is now led by CEO Tim Buckley. Recently he hinted toward lowering costs for it's RIA arm.
Vanguard Personal Advisor Services, the firm's in-house RIA, hits the $100-billion milestone and continues to grow at a pace of about $3 billion of new assets each month. Experts believe this is the most disruptive event for financial advisors this decade.
Thus far, the world has not adopted cryptocurrency and blockchain as fast as most experts promised. This begs the question, will it ever? The emergence of these technologies was designed particularly to disrupt the financial services industry.
Nasdaq Biotechnology ETF $IBB, a sensitive indicator of investor sentiment, has experienced a jump of +14.56% in 2019. From all-time highs, the fund is off nearly 17% and still recovering the bubble of 2015.
Emerging markets ETF $SPEM +6.30% and Alibaba $BABA +8.49% in 2019
IMF Lowers 2019 Global Growth Forecast due to poor economic performance in Europe, particularly Germany. The IMF cut its forecasts for world economic growth in 2019 to 3.5%, down from 3.7% forecast in October and 3.9% expected in July.
"Glancing at global markets (denominated in respective Local currency)
100% of global majors are positive YTD - we'll take positive long returns where we can get it!" @Koyfincharts
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