Now I can explain it. I thought that this was largely a gold mutual fund. Shame on me for assuming. I just looked at their top 14 holdings out of 39. Only about 15% of these holdings are gold related. 14% of these top holdings are coal companies. I guess I didn't realize that coal was considered a precious metal.
I posted a message some months ago on this and gave the government reference.
There are only 3 metals officially designated as precious metals by the U.S. government: gold, silver and platinum. I have argued with Vanguard for months about this, but they refuse to listen.
Yeah, I too am a bit disappointed. Ahem. I have patiently endured getting the sh## kicked out of me with the decline in gold. Now we get a day like this and the fund goes down??? If we don't see some big bucks and soon, I am out of Vanguard. I can do a better job picking my own portfolio of individual stocks.
it will catch up tomorrow i'm pretty sure. they hold most securities through London, and gold and silver came into NY this a.m. only a few bucks up, while platinum and palladium were down, and dollar was strong (the plunge team tried to do their waste work as usual). the real metals takeoff didn't come until just before noon, and the pmg's and energy only jumped in the afternoon.
wish i'd realized this earlier and bought more shares today, as there should be a huge jump coming overseas. all natural resources should be moving up now, which should rescue the coal and platinum plays this fund holds TOO MUCH of! i complain regularly to Vanguard, will do so again... no reason to just sit on that too industrial portfolio during the last months
I thought for sure if gold had a big move this fund would move up also. I guess not. Gold up over $80 and this fund is down another 40c today. I am in this fund because I believe the market and the dollar are going down. it is the closest thing Vanguard has to a gold fund. I guess there is no fund in the Vanguard group that will protect against what is coming and in fact already is. .
Like the inbred, overpaid, small-minded managers they are, they are still in economically-dependent, industrial miners. If you note my messages going back most of the year, I have done everything possible to convince them to skip at least one 3-martini lunch and read a newspaper. We are in a very serious contraction world-wide. Investors go into precious metals as a safe haven yet they seem to lack understanding on every point of precious metals investing. They are so kickback-dependent, so petracephalic that even with no other precious metals option in Vanguard, I am pulling all my money out tomorrow. And that is well into 7 figures.