Three things I didn’t want you to miss…
Vanguard is out with its look ahead to 2018. You can read it below. Bloomberg remarks that its the firm’s most cautious year-ahead outlook in a decade. This is smart on the part of Vanguard. They’re offering pure beta to investors, and they’re managing over $4 trillion of it. They should be cautioning people. Newer investors have begun to think of Vanguard as “safe” thanks to this year’s one-way tape absent any volatility at all. Absurd.
This is a really good read from my friend Jake at EconomPic about how volatility for a 60/40 portfolio has just absolutely dropped through the floor this year. You have to read this and digest it, the time is now.
My opinion on the ICO craze has not changed. I think they’re unregulated securities, extremely fraud-prone and need to be cleaned up. Today, the SEC announced it’s first ever case against an ICO issuer. Read all about it: