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Vanguard High-Yield Corporate Message Board

  • derrillp derrillp Dec 1, 2009 8:28 PM Flag

    Strange Fund

    Yesterday VWEHX was down just like most other junk funds. Today junk funds rose. Even the ultra conservative VAGIX went up. But VWEHX stayed unchanged today. Can anyone explain this fund to me? I sure can't.

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    • I just did also.

    • <<However, you must realize that this board has limited readership.>>

      It is even more limited for Rightstuff given that many of the few who visit this board have put him on ignore. Even I who only occasionally access it got tired of him and used the ignore option 2 or 3 months ago.

    • Rightstuff>

      I can tell you need help a little help with your geography. Raleigh isn't between Charlotte and Mayberry. Mayberry was an imaginary place on TV. However, I can also see from your posts that you have some trouble distinguishing between what's real and imaginary. So, that's OK. I understand.

    • Rightstuff,

      Uh oh, you're posts have now degenerated to simple name calling. No imagination. Not a good sign.

      Don't forget - you want people to be respectful to you. Right? Maybe you will get some respect if you clean up your act. Try posting something for a change which isn't just bashing or bragging.

      Give it a try. Maybe you can do it!

    • Hey Goober. I think you left your brains somewhere between Charlotte and Mayberry.

    • Rightstuff,

      Thanks for telling us again (for the 10,000th time) you got out in June and never regretted it. We might have forgotten. I'm sure you won't let this happen though, since you seem to think it's of such huge importance.

      However, you must realize that this board has limited readership. Imagine how many people who don't yet know what you think of VWEHX. Maybe if you put ad in the Wall Street Journal you can reach a lot of those people. And, there's always U Tube - - you could sing a little song about VWEHX.

      THINK ABOUT IT. Your possibilities are endless!

    • Attached is a chart comparing vwehx to hyg and jnk. Any other funds would have served as well, I think.

      If I were in the hospital and my monitors read like vwehx's chart, I'd hope the nurses would be running down the hall yelling "STAT!" I'm joking, but you are right; it does look strange.

      Part of the reason for the stickiness of vwehx's absolute price is just the cheapness of a share. It takes 0.2% move to change the price of a $5 share $0.01. It only takes a 0.02% move to change the price of a $50 share by the same amount.

      Still, for some reason, vwehx's recent price movement reminds me of the lassitude that fund prices often seemed to assume in olden times as yearend approached. It was as though they were being smoothed, set up for a happy closing.

      It doesn't matter much to me but I'd be interested to know. Probably never will.;range=1m;compare=hyg+jnk;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined

      • 3 Replies to ucbme
      • If you look at that same chart but the YTD time frame there is a slightly different picture. There are no doubt better high yield/high risk bond funds and no doubt worse ones. This is a pretty good one with relatively low costs and most of us who are in it are not interested in chasing slightly better yields because it is only a small portion of our portfolio and because over the long run it is hard to know which fund will prevail. That said, I for one appreciate all intelligent comments pro or con, however endless complaining and whining accomplishes very little. GLL


      • "vwehx's recent price movement reminds me of the lassitude that [many] fund prices often seemed to assume in olden times as yearend approached. It was as though they were being smoothed, set up for a happy closing."

        If were criticizing the suggestion here: First, I'd use a climate change style argument against the use of a chart; 20 or 30 price points aren't enough to demonstrate anything. Further, I'd note that smoothing suggests manipulation and it shouldn't. Further still, I'd emphasize that it is possible and permissible within accounting rules. It can be the unintended consequence of mere housekeeping. Besides, talking just about vwehx seems to single it out; perhaps it is an industrial practice; perhaps it is an industrial BEST practice. And (in the unlikely case that I had a sense of humor) I would conclude with: Who are you going to believe, me or your lying eyes.

      • Comparing VWEHX an open end fund to HYG and JNK which are both ETFs doesn't reflect too well on your knowledge of junk bond funds. Compare it to another open end fund which for the most part have flatlined too.

    • Why do you and your various aliases continue to post here?
      You said you sold this fund months ago so why keep belaboring the point it's an underperforming fund? All you do is state the obvious week after week.

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