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Out of curiosity, why do you hold so many funds? I'm ballparking statistically here, but if most funds fail to beat the market, aren't you raising your chances of under performing the market with each fund you add?Not a particular judgement on the funds, but simply matter of not wanting to pay taxes because of all my put income this year. Some of them have indeed stunk up the place, though. In a market they are supposed to excel, they have been found wanting.
Would like to hear from others which funds they gave up on because I don't want to land in those funds without having the full picture.
At this point completely out of these funds
BPRRX, BGRSX (to cut a long story short ...no pun intended)
APPLX (selling each of last 3 years...what the effing F)
GRSPX (meh...)
MDISX, MQIFX (last of the funds I fell in love with the idea of owning, gotten over that the day I sold HSGFX)
All Artisan funds I owned with "value" in the name but looking to buy back (still one I own, see below)
RPHYX, RSIVX, WMCNX (Sorry people, I can do better selling puts)
PRIJX (hoodwinked into the emerging markets value will do well idea, was in my MILs account)
PVFIX (found alternative, see below)
Funds I sold partially and still hold
FMIMX
ARTKX (if I sell it will generate capital gains)
COBYX (my condolence to the manager's family who passed, but really when are you going to turn around?)
Funds looking to sell at least some off to capture tax loss, hard decisions
IVWAX (my bad luck has to be excellent, manager has to leave, and with all that cash still stinks)
VGPMX (not "golden" any more)
VSIAX (bad timing)
WHGIX, FEVAX (not too worried, but since I don't reinvest dividends, have a loss on cost basis)
Moves that paid off
TMSRX (For MILs account)
PVCMX (Mr Cinnamond, you are not allowed to closed and then re-open new fund any more, it's illegal)
VLAAX, VALIX (lucky timing)
ONERX (Jeff Wrona found God. M* says NEGATIVE. F Them. Rock On)
If you are asking if it makes distributions, you are correct in that it has not in a while. Then again, it had bad time some time back and probably sitting on tax losses. On top of that may not be trading much lately. It's thesis has it short long term bonds for a while. Frankly one of the reasons I held on to it because I wanted to do that but couldn't myself.CGMFX doesn't pay out anything, does it?
I made comment on Weitz on another thread, likening him to Miller. Sorry, but I think Davis and Co might fit the same mould. Managers, you should stick with your style. People should decide if they want to invest and stay invested in you. Your style needs to stick. Hussman sucks but he is consistent.@VF
Yes, my largest equity MF, CFIMX, owns a large slug of AMZN and GOOG! ...and Davis were once "value" investors!
Sure. 35 stock IMO is not that concentrated. There are studies that show beyond 20 holdings it matters less. However, let's not get into statistical mumbo jumbo. It matters more if there is MUCH concentration in top 5-10 holdings. FAIRX as example.
Never said it was good or bad, my point was concentrated funds tend to closer sooner to preserve flexibility. Personally, I like them and own a few of them.
This is exactly why I own IVA Worldwide - IVWAX - it even comes with an "owners manual" - but sorry it is closed.@jerry I was just trying to find funds that will go cash if they don't find value. ARIVX was one such fund. COBYX which I own is yet another. Not sure how one could "screen" for such funds. If you have a better way, please do share.
These are basically funds I will stay invested in even if 1929 occurs. When I'm panicking and selling everything else, I will buy more of THESE Funds. That's the idea.
I think people know I own HSGFX and HSTRX, while I don't own the fund cited in Prof's article. One day Hussman is going to be right. This is about THAT day.
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