I'm actively looking at my debt and determining if it makes more sense to pay down mortgages (locking in a guaranteed ~ 4 % return) or investing in bonds (~ 1 % returns if held to maturity) or stocks (uncertain, but I just wrote an article about the current PE ratio and
the inevitable reversion to the mean and I believe we are likely headed for 10 years of low single digit returns).
Bogle, 87, called me from his Vanguard office at Valley Forge, Pa., on Wednesday
to discuss the hedge - fund redemptions, which he attributes
to a surge of competition in the sector and the
inevitable «
reversion to the
mean» for returns.