Sunday, January 4, 2009

WSJ: Expert advice vs Expert's own actions

Got a chuckle from the WSJ's reporting on investment gurus who haven't strictly followed their own "sound" advice...

"John C. Bogle, founder of the Vanguard funds, believes investors should rebalance their portfolios on a regular schedule by selling a portion of whatever has gone up the most or buying some of whatever has gone down. 'I think rebalancing makes a substantial amount of sense,' Mr. Bogle recently said on the Jean Chatzky radio show. With his own money, however, 'I don't rebalance ... I leave it alone. I have not touched my asset allocation since March of 2000.'"

The full story: Investing Experts Urge 'Do as I Say, Not as I Do' (WSJ subscription required)