Wellesley and Wellington show huge losses

[REWahoo]

If this isn't an error, I'm screwed...

 

[sherrywilliam]

mine too lost over a third of my portfolio

 

[BrianB]

I just logged into Fidelity to see how much I lost today. Wellesley down 56%? WTF? Quicken download shows the same thing.

I have searched for news or an explanation but can't find anything.

Anyone here know what's happening?

 

[bolt]

Sounds HIGHLY unlikely reviewing it shows it moving 1/1/19 to todays 8/12/19, from mid-50s to todays 65ish. It's obviously a technical issue and not real. Give it 24 hours and stop looking so closely.

 

[Bestwifeever]

WTF

 

[MichaelB]

Everyone take a deep breath. Surely it's just a mistake.

 

[ejman]

Holy frijole! If this is true (and all sources show the same quotes including Vanguard's own website) Then I would hate to see what happens when the market really drops. VTINX ( Vanguard target retirement Income) shows a drop of 45.61%

 

[Bestwifeever]

Okay, then buy buy buy?

 

[Sittingduck]

The DJIA is down 1.48%. VWENX doesn't usually move more than the Dow. It's stock portion is big cap stocks. This is disconcerting to say the least.

 

[ERD50]

This is why I stick to the passive funds. Those boys and girls at Wellesley and Wellington probably decided to get creative and put a big bet on triple-leveraged Peruvian Beaver Cheese futures denominated in Bitcoin!

You just can't trust 'em I tell ya!

Hmmm, wonder how soon the glitch will be cleared, it's too early in the year for those annual posts about drops that rare just EOY cap gains distributions. And this is too big.

-ERD50

 

[nativenewenglander]

I'm only down 51.78% Since I am carrying some cash cushion.

 

[Sittingduck]

Vanguard's phones are busy...

 

[CardsFan]

Okay, then buy buy buy?

No, SELL SELL SELL. (or not )

Curious what would happen if someone DID try to buy at the (obviously) incorrect price.

 

[Gumby]

IIRC, this has happened at least once before, several years ago.

 

[Shredder]

I called but there is a twenty five minute wait time. It sure seems like a technical problem. Hopefully we'll hear more soon.

 

[MichaelB]

No, SELL SELL SELL. (or not )

Curious what would happen if someone DID try to buy at the (obviously) incorrect price.

Even if they accepted the order they would back out of it.


Global Wellington and Wellesley are down 18.75%. The other Vanguard funds I saw all looked properly priced. Someone is going to get bad performance review ...

 

[REWahoo]

Seems to be isolated to Vanguard's balanced funds - Target Retirement, Lifestrategy, STAR, etc. Gotta be a glitch.

 

[braumeister]

Easy come, easy go.

 

[RunningBum]

Seems to be isolated to Vanguard's balanced funds - Target Retirement, Lifestrategy, STAR, etc. Gotta be a glitch.

I blame the bond component then. It looks like they haven't posted the bond prices on the VG site yet.

 

[bearkeley]

This is why I stick to the passive funds. Those boys and girls at Wellesley and Wellington probably decided to get creative and put a big bet on triple-leveraged Peruvian Beaver Cheese futures denominated in Bitcoin!



You just can't trust 'em I tell ya!



Hmmm, wonder how soon the glitch will be cleared, it's too early in the year for those annual posts about drops that rare just EOY cap gains distributions. And this is too big.



-ERD50

Frickin Beaver cheese! That has to be it.

 

[Go-NoGo]

Did they go all in into the Argentinian stock market ?
It dropped 35% today and the peso fell by 25%
That trip to Patagonia might be affordable after all

 

[ejman]

Well, on the good news side RMD's are not going to be as much of a problem this year.

 

[MichaelB]

Great day to do a ROTH conversion

 

[Bestwifeever]

Maybe it's a diversionary tactic so when it’s “fixed” to show “only” a five percent drop instead we’ll all be high-fiving our good fortune, we’ll be so relieved, instead of complaining.

 

[RunningBum]

Psst Wellesley is the sound of the air leaving Wellesley's tires.