Vanguard warning

[FinallyRetired]

I got my answer from Vanguard. They thanked me for the suggestion to put a bigger warning on the page, then claimed there was a warning on the page where I put in my phone number prior to making the trade. Of course, they offer no proof, just as I have no proof to offer. Nothing about adjustments. Surprise surprise. I just wish I would have made a screen capture. I'm a nervous nellie any time I hit the last button before I buy or trade anything online, even a $10 ebay item. I sure as hell would have noticed a 2% shaft on a six figure trade. But it's water money under the bridge now. I'm not making any more Vanguard online trades, I'll call a human and tape record the conversation from now on.

 

[Olav23]

You are preaching to the choir, brother.

Sorry you had to get burned as well. Hopefully it is a consolation that the market has been doing fairly well lately and I also hope it didn't affect your RE date.

 

[ESRBob]

STR,
I was trying to see if I'd been burned in recent trades, too. Did you say you saw a separate line item on your statement or was it somehow all rolled into the single trade line item on your statement? So far, the recent ones just show a single line, so I'm hoping that means they didn't tag me for any redemption fees. I am locked out of several funds, though -- they put the little double-s symbol next to the fund name in your online account summary.

 

[al_bundy]

This is just another way the mutual fund companies make money. The industry is fraught with legal ways to skim profits from investors. Write emails and call customer service all you want, but if you ever see a dime, I would be very surprised.

They also have a (legal) policy of "fair market pricing", which allows them to set the NAV to whatever they want - different from the actual NAV on any (or all) days. Imagine which way they would lean if they have an accumulation of 10 times normal redemptions at market close. I would think they might undervalue the NAV given that infomation before they set the NAV for that day. Guess what, the reverse is perfectly legal too. Ten times normal purchases today, well the NAV will be pretty high I bet. Not too many things are bought or sold where the price is set after the commitment to buy or sell is made.

if you made a top 10 mutual fund company list, vanguard would easily be in the top 5. they are one of the best out there. stop complaining.

 

[bosco]

if you made a top 10 mutual fund company list, vanguard would easily be in the top 5. they are one of the best out there. stop complaining.

yeah!! and no dirty market timing talk either. and no SWRs less than 4%--that's h0c0mania and it's not tolerated. don't you know the rules?