Bogle: Play Through The Recession

Vanguard founder John Bogle is the subject of a Q&A with the Associated Press. Nothing really new here except that the story's headline plays up the fact that the indexing pioneer seems to think that the recession could last 18 months to two years before things get better.

But the gist of the icon's comments is basically to play through the downturn, no matter how long it lasts. Bogle actually makes a pretty good argument for using such downdrafts to buy shares of the indexes you like at lower costs. Smart investors can wind up benefitting in the long run from such periods if they remain disciplined and focused, according to Bogle.

Have you ever read anything you didn't like from this guy? Check out the article here.

PIMCO A Key Player In Bailout Plan For Automakers?

General Motors may ask unsecured debt holders Franklin Resources Inc. and PIMCO Advisors LP to accept as much as two-thirds less than the face value of their bonds as the automaker cuts debt in a bid to win U.S. government aid, according to Bloomberg News.

Although not directly related, such a hit could push back PIMCO's plans to enter the exchange-traded funds marketplace. It has already altered its first bond ETF from a portfolio tied to an intermediate index to short-term Treasuries.

Speaking on CNBC television, PIMCO's Co-Chief Executive Mohamed El-Erian said Monday that the Fed move "to stabilize the mortgage market last week ... was an important step in that direction," according to a separate Reuters report.

As Congressional hearings resume today on the big three automakers' request for a bailout, PIMCO could end up playing a bigger role than many would've first thought. The Bloomberg report explains that other fund companies with stakes in GM also might have to sign off on its final proposal to lawmakers. You can see the story here.

Top Traded ETFs In November

Richard Widows of TheStreet.com has compiled a list of the 20 ETFs with the highest average daily dollar volume of trading activity in the past month. No surprises here with SPY and QQQ on top. But the ProShares Ultra Short S&P 500 (SDS) moved up a spot to No. 3 from the previous month, knocking the iShares Russell 2000 (IWM) down to No. 4 in November.

Another big mover was the iShares MSCI Emerging Markets Index (EEM), which gained four spots from No. 11 the prior month. The Financial Select Sector SPDR (XLF) and the Energy Select Sector SPDR (XLE) also slipped downward in November. You can see the full results here.