The Globe and Mail reports in its Wednesday edition that one of the easiest ways to buy a 60-40 balanced portfolio just delivered a 12-month return of 10.5 per cent, and one of its competitors made 11.2 per cent. The Globe's Rob Carrick writes that the classic balanced portfolio mix of 60 per cent stocks and 40 per cent bonds was considered so dead 18 months ago that funeral arrangements were being made. Stocks were falling, but so were bonds. Hammered from both sides, 60-40 portfolios produced alarmingly bad results. The 60-40 mix was terrible for 2022. However, the reason now appears to be a result of the unusual financial market conditions generated by the pandemic, and not a fundamental flaw in this particular portfolio mix. For the 12 months to June 30, the $2.4-billion Vanguard Balanced ETF Portfolio (VBAL) made 10.5 per cent, while the $1-billion iShares Core Balanced ETF Portfolio (XBAL) made 11.2 per cent. In 2022, both VBAL and XBAL lost a bit more than 11 per cent. Mr. Carrick argues that while the 60-40 mix was terrible for 2022, the reason now appears to be a result of the unusual financial market conditions generated by the pandemic, and not a fundamental flaw in this particular portfolio mix.