Why is it that active management critics of index investing who write papers that point to a recent increase in correlations of stocks returns in the S&P 500 by cap weight never use an equal weight total US stock market index as a proxy? papers.ssrn.com/sol3/papers.cf…

Critics of index funds (see link) claim that buying an index puts too much money in overvalued stocks and not enough in undervalued stocks. If that's true, why do so many active managers underperform? The answer is they don't know which stocks are overvalued and which are

Prefer to read - instead of listening to - the latest 'Bogleheads on #Investing' podcast? We've got you covered! Host Rick Ferri (Rick Ferri, CFA) interviews Phil Demuth (Phil DeMuth) on his latest book: “The Tax-Smart Donor” Listen to the interview - or read the transcripts 👇

The 84th 'Bogleheads® on #Investing’ #podcast is out! Your host Rick Ferri (Rick Ferri, CFA) interviews Jeff Clark, a 27-year veteran of Vanguard Workplace Solutions. They discuss ‘How America Saves 2025’, Vanguard’s report on trends in defined contribution plans.

In the 83rd episode of the ‘Bogleheads on Investing’ podcast, Rick Ferri (Rick Ferri, CFA) interviews Phil Demuth (Phil DeMuth) on his latest book: “The Tax-Smart Donor.” Listen to the interview ⬇️ #taxes

Here is a new disturbing marketing trend in the fund industry, similar to “smart beta”. They’re called “alpha indexes”, which are special purpose indexes (SPIndexes) that have no purpose except to be tracked by a high cost fund, ie active management. 🤮 primeinvestor.in/reports/should…

All the recent talk about alternative ETFs, private equity, and private debt sounds enticing, but you don’t NEED any of it. Do not have FOMO because you’re not missing anything. Stick with global equity index funds and a few bond funds or a bond ladder that fits your true need.

My turn to whine. 😢 Our government is doing everything it can to push people over 65 out of the workforce. I’m a solo practitioner, over age 65. I pay Medicare premiums w/IRMAA. My Social Security benefits are maxed out at age 70: $5,108 month. Consequently, the extra 15.3%

VT works great as a world equity fund, or 65% VTI and 35% VXUS to get close to the same spot. Don’t make it complicated. The more junk you add to a portfolio, the higher the probability you’re going to change your mind, rearrange the portfolio 1 million times, and underperform.

Once we give up the idea that we should beat the stock market because we believe we’re smarter than most investors or have special insight, then we become “enlightened” to the real benefit of being a total market index investor ($VTI, $VXUS, $VT) and outperform our previous self.

Because of the recent tax law changes from the One Big Beautiful Bill, 2025 presents a unique year for tax planning. Ed Slott, CPA (Ed Slott and Company), talks about this and more on the latest 'Bogleheads® on #Investing’ #podcast. Link in the comments ⬇️

The markets ARE unpredictable. Intel $INTC was on top of the world in the late 1990s, much like $NVDA is today. At the time, no one would have ever believed the company would be losing $1 bn a year today and need a government bailout.

Books about how to GET rich are very common. But you know what topic isn't ever covered in those books? How to BE rich. What comes AFTER you reach financial independence, or even as you are approaching it? Here are some books that will help those who are rich already to do it

🎯 What's the ideal portfolio? Rick Ferri shares how to simplify your allocation, avoid noise, and focus on what actually drives returns. 🎧 Bogleheads® Live Ep. 2:

This is absolutely true. When I disagree with someone’s analysis or beliefs, I expect a respectful and logical response with counterpoints based on facts. If insults come back instead, not only have they lost the disagreement, they’ve lost my respect as well.