PartnerSelect Smaller Companies Fund (I class) to be reorganized Dick Weiss. Now that's a name I haven't heard in a long time. In the 90s (and somewhat beyond), he managed Strong Opportunity, a good midcap value fund. It became Wells Opportunity when Wells Fargo acquired Strong Funds.
Here's a 1999 M* Fund Spy column with a few paragraphs in the middle about Weiss and the management of Strong Opportunity.
https://www.morningstar.com/articles/1402/morningstar-fund-spyThe industry pulls so many sleights of hand that one has to wonder about reorganizations that include some oddities. All the Litman Gregory Masters funds changed names just seven weeks ago to PartnerSelect. This reorganization is supposedly due in part to small size ($18.9M) but is a merger into an even smaller fund PFSVX ($9.9M).
https://www.sec.gov/Archives/edgar/data/1020425/000168386320012117/f6483d1.htm That latter fund was formed just after the name change, and unlike the "Masters" funds, has only one submanagement company. It looks like it could be a shell fund designed for various purposes, including the stated purpose of carrying over losses from MSSFX and an unstated purpose of burying that fund's performance history.
Perhaps Litman Gregory is moving away from the multi-manager concept (and poor records) and this is just the first step. MSEFX is a large cap fund with just $230M, a high ER (1.21%), and a miserable bottom 10% record over all time spans (from 1 month up to 15
years). Further, Dick Weiss, who is retiring, is this fund's only remaining original manager.
PartnerSelect Smaller Companies Fund (I class) to be reorganized Thought LITMAN GREGORY has gone to advisory only.
Long time ago I invested with their Master Select International fund and left several years later. The concept of running a fund utilizing multiple "star" money mangers was interesting but there is no synergistic between between the stock picks. The end result of was higher level of volatility (than funds with a single manager/team) and offered very little downside protection during drawdown. I stayed with a total international index fund for awhile and slowly selected a few actively managed funds (slowly).
Defensive fund options This is from someone who as been playing defense for last 15-20 years. Been a while since I visited the site and for good reason.
My answer to the question - Sell deep OTM options. Pay taxes. No one went broke paying taxes. The last 5 months have been the best of my investing life. Based on your risk tolerance level invest in index funds, then take half of your cash and try to earn income on it. Enough defense you will need IMO.
I've been generating $500 consistently with $20000 in my Vanguard account without ANY trouble every month. That's a 2.5% return per month. That's 30% a year. Pay taxes.
"Off-Topic" previously "Off Limits"... now "back in service". While I think a break is necessary, it's important to remember Old_Skeet's and then FD1000's goal was to silence political discussions by trolling the site with ones from dubious rightwing sources. So effectively they've won. They had no real interest in having any rational discussions on these subjects, and these discussions had gone on for years without any site overload until now. I do think if Off Topic is reinstated, the noise will die down after the election.
I would add this troll data-dump strategy is commonplace in the corporate world. If any individual tries to sue a company, instead of withholding information companies often will send over a hundred boxes of nonsense info to weed through or try to tie the case up in court through appeals, knowing plaintiffs don't have the resources to continue fighting. It is a way of silencing any opposition.
To me silence is not apolitical. If you see a man bleeding on the street and you do nothing, you are suffering from depraved indifference. Issues like climate change, taxation, Fed policy and government regulation have a direct impact on investing yet are also political ones. Saying we're not going to discuss those and only focus on making money in the markets is tacit approval of whatever the status quo is. That status quo is a libertarian "I wanna make money any way I can and I don't care about the consequences" one.
Mutual Fund Observer, September Nuts. Lost my (draft) note to VF. (sigh) I'll try again.
Hi!
Mr. O. didn't run POGSX 20 years ago. When he came onboard, he began moderating its aggressiveness and ended up outperforming the S&P 500 pretty substantially. ($10K grew to about $30K with him and $25K with the S&P 500 during his stint at POGSX.) I have no idea of why he left Oak Associates, through that difference of styles might have had some relevance. In any case, it's a LCV with cash for now.
Mr. C. got killed in 2000-02. I think he learned from the experience. The SEC permitted Osterweis to include his private partnership in the fund's prospectus, so there's about a 10 year record with about 200 bps of annual outperformance. It does not appear that the returns reflect excessive risk; standard deviation is a bit high, but all of the other measures of risk and risk-adjusted returns are at or below average.
As always, the goal is not to flog a fund - in either the positive or negative sense - just to be sure we're willing to look at places that we'd normally write off without much examination.
Cheers, David
Mutual Fund Observer, September I see PVMCX and TMSRX, both funds I own now, the latter for my MIL, the former after taking tax loss in PVFIX.
I am appalled Oelschlager and Callinan can still point to their records when it is clear they can ONLY make money in one kind of market. One that simply lets you throw darts at the index. Food for thought, imagine you had invested in POGSX 20 years back. Please go and see how much money you would have today. Some track record.
Defensive fund options I have owned MERFX and ARBIX for years
They haven't done much at all. Total position is up 6% since 1/2019
Tylenol, balloons and bubbles You can get bunch of agents that makes cars smell good and these also has amount of addictive stimulants in them;We drive our car so infrequently that after three
years it still has that "new car smell". So now I know why we so much look forward to our monthly excursions to Costco. :-)
Is the "New Car Smell" Toxic For Youhttps://www.motorbiscuit.com/is-the-new-car-smell-toxic-for-you/
Any news that prompted the market turnaround? Don't get to excited , futures down as 9:30 P.M.
Derf
Your comment has me wondering how many people here are trading versus how many are buying some sort of fund for a longer time period
Awe shucks. I don’t see many playing a short game. A lot of us like to
watch the action. Many, self included, have a predominately long term allocation we leave alone and also enjoy playing around the edges on occasion with maybe 5 or 10%. Frankly, when invested with fund houses in their products (as I am) there’s some pretty serious constraints on frequent trading - some stricter than others. So any attempt to do some fast in and out trading would hit a dead-end pretty fast.
In an era of practically 0 return on cash, and little more on intermediate investment grade paper,
if you can pocket a bit extra now and than making some smart short term bets, I see nothing wrong with it. I mean ... a
one-day gain of 3% on a stock, ETF or mutual fund is a whole lot more than what that cash would generate over
several years.
I’m sure there are some traders here. Just don’t think it’s a substantial number.
Any news that prompted the market turnaround? No significant news other than tech sector rebounded. AstroZenneca vaccine testing paused due to a side effect found in one patient. but According to Dr. Fauci that case is not unusual at this stage of human testing. Data are being reviewed at the moment. Phase III testing takes time to completed. Typically vaccines in the past took over 10 years to reach commerization. This COVID vaccines are moving at incredibly pace.
Fund Spy: A Brave New Bond World When I decided I was supposed to take all the good advice and have more bond funds, because it's ballast and all, I definitely looked for lower durations.
Your post got me looking at my bond funds today. Some of them have gotten longer, and slopped into BBB. DODIX is up to five years and now BBB. Might be time to take some profits and flip to something like FTHRX. Still A. Still 4.04.
I do have exposure to longer durations through old Wellington and Wellesley holdings.
Mid Cap Value Funds
This 50-year-old Vanguard mutual fund is holding its own against younger rivals Check the duration on the bond sleeve and see if you feel comfortable with that going forward.
If the Fed is successful in raising the inflation rate will interest rates rise as well?
I don't plan to sell out. But I do take profits out every few year to put elsewhere.
Let me know when you see inflation. They are talking about it for several years while high tech is taking over and it will increase and this time it will take away higher paying jobs. The people who keep their salaries upgraded are the STEM ones.
Price competition decrease margins too. All I need is to google something I want to buy and find the best price online which means more actual stores will lose.
I'll raise my right hand. ;-)
As I've mentioned elsewhere, I think the central bankers are scared to death of deflation. But you never know.
