![]() ![]() There are no less than 18 hyperlinks and buttons that each will take you to the same ordering page. Multicolored text in a wide variety of fonts repeatedly urges you to sign up for this investment newsletter. Ron Popiel might smile about this sales pitch, although the subscription cost of this investment letter substantially exceeds the price points of the products that Ronco sold on TV. As his sales message progresses, you find that you could get not just 1, but 2, 3, 4, and 5 bonus gift books, if you just sign up NOW! Visions of bonus sets of Ginsu knives filled my head. When printed, this investing newsletter email promotion was 16 pages long.Ī red border surrounds the promotional copy of Dan Wiener’s email about his finance newsletter. I printed his email to save myself from a lot of scrolling and to take some written notes. Have you ever found yourself on a colorful and extremely loooooooooooong webpage that pounds an emotionally laden sales message over and over and over from many different angles? That is what this promotional html email from Dan Weiner is like. The aggressive selling of a Vanguard mutual fund newsletterįirst, let me summarize the type of email that Dan Wiener sent to my clients and perhaps to many more people. In my personal opinion, the Rodriguez-Tower research paper does have reasonable clarity, and Dan Wiener’s investment newsletter email promotion does not. I simply expect that written investment product sales documents should have reasonable clarity. Nevertheless, when someone asks me to buy a financial product or service that will allegedly help me to improve my investment performance, I want to understand the underlying facts. I may lack information, and I could be wrong in my interpretations. ![]() I have not done any additional or independent analysis. Please note that everything I have written here comes just from my reading of the Rodriguez-Tower research paper, from Dan Wiener’s email, and from certain related posts on the Bogleheads and Vanguard Diehards forums (see links at the bottom of this article). ![]() Then, I reread Dan Wiener’s mutual fund newsletter sales piece in finer detail. This mutual fund newsletter promo email came from Dan Wiener’s email address, and Dan Wiener signed this email twice.Īfter I read Dan Wiener’s email, I went back and reread the “Do Vanguard’s Managed Funds Beat Its Index Funds?” mutual fund investment research study by Abel Rodriguez and Edward Tower. He said that these are secrets that “Vanguard will never reveal.” His promo email was quite hefty, and it took some time to read and analyze. In his email promoting his finance newsletter, Dan Wiener says that he knows the secrets to unlocking hidden riches from Vanguard investment funds. Maybe Dan Wiener had some secret sauce to help my clients beat the market using The Vanguard Group’s mutual funds and ETFs. The more I read of it, the more intrigued I became. ![]() Later, some of my financial planning clients forwarded a recent email newsletter promotional piece from Dan Wiener. When I first read the Rodriguez and Tower “Do Vanguard’s Managed Funds Beat Its Index Funds?” mutual fund investment research study that was summarized in Part 1, I did not pay very much attention to the few bits about Dan Wiener’s Growth Portfolio. question whether Vanguard has an incentive to deceive its customers.ĭan Wiener’s promotional email for his The Independent Adviser for Vanguard Investors mutual fund newsletter.ask whether Vanguard’s index funds are really for suckers, as Dan Wiener suggests, and.discuss how performance benchmark selection can affect superior performance claims,.try to reconcile these performance claims with the research paper about Vanguard’s passive index funds and Vanguard’s actively managed mutual funds that was summarized in Part 1,.attempt to understand certain rather exceptional investment performance claims for this investment letter,.discuss an email promoting a mutual fund newsletter that some of my clients forwarded to me,.In this second part of this two part article, we: ![]()
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