Mutual Funds

Current Commentary

March 1, 2018

Dear friends,

I’m often a bit confused. Sometimes it’s as simple as the stuff in my pantry. Why, for instance, is cranberry sauce canned upside down? Look! The part you’ve supposed to open is on the bottom.

Sometimes it’s the challenge of figuring other people out. What was Snap’s board thinking when they gave their CEO at $637 million (an amount equal to 75% of the company’s revenue) bonus? Someone named Kylie Jenner shared the following 19 words on Twitter: “”so does anyone else not open Snapchat anymore? Or is it just me? Ugh, this is so sad.” How on Earth did that convince investors to trim $1.6 billion in Snap’s market value in 24 hours? Continue reading →

Our Mission

David Snowball, PublisherThe Mutual Fund Observer writes for the benefit of intellectually curious, serious investors— managers, advisers, and individuals—who need to go beyond marketing fluff, beyond computer- generated recommendations and beyond Morningstar’s coverage universe.

We are non-profit, non-commercial, independent and accessible. Our special focus is on innovative, independent new and smaller funds. MFO’s mission is to provide readers with calm, intelligent arguments and to provide independent fund companies with an opportunity to receive thoughtful attention even though they might not yet have drawn billions in assets. Its coverage universe has been described as “the thousands of funds off Morningstar’s radar,” a description one fund manager echoes as “a Morningstar for the rest of us.”

What the Observer Provides

A monthly commentary, featuring a variety of voices that speak from many different perspectives but who all share the same values: intelligence, respect, civility.

Profiles of funds you ought to know more about. We ask three questions to start:

  1. Is there any reason this fund should even exist, other than because the manager needs a job?
  2. Is there any reason to believe that the manager can execute the strategy?
  3. Is there any reason to believe that the manager will end up sabotaging it?

If we find satisfactory answers to all three, we start digging through the public record, proceed to speak with the managers and end up defending a judgment.

Rich analytics focusing on risk, as well as rosters of distinguished and disastrous funds.

A lively discussion board, whose active members are diverse, lively, passionate …and occasionally hilarious.


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