Vanguard is singing a new tune for investors in 2026. It goes like this: Out with the standard portfolio mix of 60% equity and 40% fixed income. In with the opposite — a 40% equity share (20% US stocks and 20% international stocks) and 60% fixed income. “This is a significant shift,” Roger Aliaga-Diaz, Vanguard’s global head of portfolio construction and chief economist for the Americas, told me. “It's almost like a tectonic shift.” Here’s what’s behind it. Vanguard expects investors in the short term ...