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Interesting food for thought:...2020 looks like it could go down in history as the worst intra-year drawdown that finished the year with a positive return. And the fact that those gains are now in double-digit territory is not something many (any?) people saw coming. The S&P is now up well over 60% since bottoming in late-March.
the-biggest-stock-market-reversal-in-historySitting on your hands and not panicking, even when stocks are down big, remains one of the best investment strategies on the planet.
This discussion did get me thinking about which type of debt is a bigger problem for the economy. Here are the outstanding debt levels for both student loans and credit card debt:
https://finance.yahoo.com/news/stock-market-valuations-not-mean-reverting-morning-brief-110134302.html...rich valuations alone are no reason to avoid or dump stocks. And they’ve historically revealed almost nothing about what stocks do in the next 12 months.
Indeed, much of the gains you see in the stock market have been achieved while valuations appeared expensive.
Thank you, @msf
The cap gains in 2018 and 2019 (there were no dividend distributions) did average 6%+, but over four years I can't see how, even after adding income divs and cap gains together, one could average 6%.
My data source is Fidelity's distribution page for the fund. I've verified the total distribution figures at the source: https://knowledgeleadersfunds.com/
Earlier this month, David provided an update on the G/A conversion, which he originally discussed in his June 2020 MFO article.Don’t expect DFAU [US Core Equity] and DFAI [International Core Equity] to be the only DFA ETFs for very long, however. The firm just filed with the SEC to convert six of its tax-managed mutual funds into ETFs. That has never been done before, but at least one other firm, Guinness Atkinson, is attempting a similar conversion with one of its mutual funds.
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