A Final Note

We apologize for the fact that this month's newsletter is appearing a couple of days late. Unfortunately, a number of us here at The Index Investor encountered difficult family situations in August as our relatives suffered serious health problems. One of them was my father. In his own way, he has always been an index investor. Long before Wells Fargo Bank introduced the first index fund almost thirty years ago, my father had stressed to us the many benefits of having a well diversified portfolio. Not the least of these was the fact that with a well diversified portfolio, he didn't spend much time trying to beat the market. He was perfectly content just to match it year after year, while putting his time to what he saw as more valuable and enjoyable uses. As a result, he is now a man without financial worries, and, more important, without regrets about what he hasn't had the time to do in his life. When all is said and done, I can't think of a better argument in favor of indexing.

| Models Aren't Perfect for Many Reasons | Economic Outlook | Using ETFs In Our Model Portfolios | Equity Market Valuation Update | Asset Classes Versus Tilts | Model Portfolio Update | More Support for Indexing | A Final Note |