Vanguards CEO Bill McNabb Echoes Our Comments
In this recent article, the chairman of the well know powerhouse Vanguard, Bill McNabb and his right hand man, Chief Investment Officer, Tim Buckley proclaimed the markets “Frothy” and most likely will be volatile sooner rather than later.
…..urged the 8,600 attendees to proceed carefully.
The poll found that 33% of investors were somewhat likely to increase their equity exposure this year, while 24% were very likely to do so.
“Often, after great returns … people chase them and risk getting in after a run-up. So, don’t overallocate to equities,” Buckley cautioned…..
Valuations, he notes, are historically in the top quartile and “are getting pricey.”
In our just published Newsletter, the EXACT terminology was mentioned repeatedly.
This is so close to our thoughts we even included this following chart in the Newsletter for impact and reference.
Mr. McNabb’s stock certainly rose in our minds due to the direct alignment with our views. This is another reason why we hold off on reading heavily before we formulate our opinions and estimates …. Keeps us from being swayed, and provides nice surprises like this!!!
Have a Great Day!
John A. Kvale CFA, CFPhttp://www.jkfinancialinc.com http://www.street-cents.com 8222 Douglas Ave # 590 Dallas, TX 75225