The PDF version of the March issue of ETFInvestor is now available for download.

The iPad version will be available in approximately 3 business days.

The March issue explores the limitations of using valuations to time exposure to index investments. Value investing has certainly hit a rough patch over the past decade, but it is still promising strategy for stock selection, as Ben mentions in his article, “Value Investors Are Vexed.” However, valuations are less useful for timing exposure to the market and making tactical adjustments across sectors, factors, and regions.    

Here you’ll find content about:     

• Why valuations aren’t very helpful for tactical bets across index portfolios
• Problems with using Schiller’s CAPE ratio to time exposure to the market
• Why value investing is still a good strategy for stock selection
• An overview of the Basic Model Portfolio and an adjustment that might make it more tax efficient
• iShares Edge MSCI USA Value Factor ETF VLUE and Schwab Fundamental International Large Company ETF FNDF

If the link above doesn’t work, you can download this month's issue by copying this address into your browser: http://etf.morningstar.com/Newsletter.aspx?download=currentIssue

Best,