http://www.vanguard.com/bogle_site/sp20 ... onbth.html
I really enjoyed reading this. Quite a history lesson.
History of the Wellington fund - 1929-2003 - by John Bogle
Re: History of the Wellington fund - 1929-2003 - by John Bog
Mr. Bogle identifies some of the fund's traditional virtues that, as he notes, continue to pass the test of time:
"From the very outset, Wellington’s three-fold objective has remained constant: (1) Conservation of Capital, (2) Reasonable Current Income, and (3) Profits Without Undue Risk. These goals have stood the test of time, and have been importantly responsible for the remarkable string of 298 consecutive quarterly dividends paid to the Fund’s shareholders. The Fund’s stalwart consistency in hewing to its conservative investment approach has played a major role in its asset growth and acceptance by millions of investors."
Definitely not a fund for hotshots--thankfully.
Lev
"From the very outset, Wellington’s three-fold objective has remained constant: (1) Conservation of Capital, (2) Reasonable Current Income, and (3) Profits Without Undue Risk. These goals have stood the test of time, and have been importantly responsible for the remarkable string of 298 consecutive quarterly dividends paid to the Fund’s shareholders. The Fund’s stalwart consistency in hewing to its conservative investment approach has played a major role in its asset growth and acceptance by millions of investors."
Definitely not a fund for hotshots--thankfully.
Lev