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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
  • Best and Worst Funds Discovered Here At MFO
    So many mutual fund ideas have past through this web-site and it's predecessor FundAlarm since I started visiting 11+ years ago. Some ended up being stinkers, but others have ended up being staples in my portfolio. With that, I was wondering what fund ideas were found here by others here at MFO/FundAlarm that were either bad buys or those that were great. These come quickly to mind for me:
    The 3 best for me have been: (in no particular order):
    PRWCX, SFGIX, and PONDX (DSENX is quickly finding it's way up the list, just haven't owned it as long).
    3 stinkers I wish I didn't gamble on:
    USAGX, ARIVX, WASYX
    MikeM MikeM in Fund Discussions
  • The Callan Periodic Table of Investment Returns: (1997–2016)
    SC value and EM are in the top 3, 16/20 years. Not a surprise but that pattern has me wondering if I should boost my allocations to those two areas. I can get neither directly in my Federal TSP at work.
    MikeM2 in Fund Discussions
  • Morningstar's New CEO Values Independence, Contrarian Approach To Investing: Video & Text
    FYI: In the last few years, it's become less common for a person to enter a company right out of college, learn the business from the inside and ultimately rise to the top position. But Morningstar's new chief executive, Kunal Kapoor, bucked the changing trend.
    Regards,
    Ted
    http://www.chicagotribune.com/business/ct-morningstar-ceo-kunal-kapoor-exec-qa-0226-biz-20170223-story.html
    Ted Ted in Fund Discussions
  • Small Cap Fund Recommendations
    BCSIX, closed, is the M* choice for small-cap growth. It's a health science and tech fund and concentrated. One fund that has out performed it over the past few years is GSXAX, more a SC blend and one that is light on health and tech relative to the benchmarks. I used to hold HSSCX and I still think it's a good choice. I was a bit put off by it holding SC index ETFs as the two top positions. What's that called? Active inactive? BTW, I use other funds for SC international.
    BenWP BenWP in Fund Discussions
  • Small Cap Fund Recommendations
    Sorry. If you bought any of those funds in 2009, you would come out okay and wouldn't really have any reason to complain if you didn't buy the highest performing one of the lot.
    Question now is how will they do next 10 years. I'm buying ICMAX and PVFIX.
    VintageFreak VintageFreak in Fund Discussions
  • mf newsletter 5 vanguard funds that double my investment
    During rising (bull) markets talk turns naturally to how much one might (hypothetically) make given good luck and some timely investments. During falling (bear) markets talk turns to how much one might (hypothetically) lose and the number of years it would take to gain it back.
    -
    @OJ - Perhaps we need a list of banned words and phrases likely to induce consternation among some? "Alternative facts" seems to fit that mold and could be placed at the top of said list. :)
    hank in Fund Discussions
  • PRMSX TRP EM stocks
    Just noticed. ON FIRE. +10.92, YTD, 2/23/2017. PRMSX. Don't own it. I do own SFGIX, and it lags PRMSX these days. But look back 5 years: SFGIX wins, hands-down. SFGIX is closed, anyhow. If you're not already in, I'd say PRMSX deserves a look. Eh?
    Crash Crash in Fund Discussions
  • Parnassus funds
    @VF, you can always roll your own, easily.
    If I could do that why would I bother being here discussing with you mugs. I have a bullshit meter and I can do ANALysis, but not Analysis. I don't expect to ever buy a stock or ETF as long as I live. And after that I'll appear in nightmares of all who do.
    Or maybe Parnassus can hire my elder in 5 so years when she finishes college and she can fulfill my "dream" of having a mutual fund manager in the family....
    VintageFreak VintageFreak in Fund Discussions
  • Fannie And Freddie Took A Big Fall, Will Bruce Berkowitz’ Fairholme Come Tumbling After?
    @VintageFreak: And the sagging continues...
    :-D
    M* Still has no clue. Shows down 2.83 today. Like Yesterday never happened. BUT YTD it shows it is still 12% up.
    Why only FAIRX has this problem on M*. I think M* is waiting to publish a seriously negative comment on FAIRX. They were in love with SEQUX and still are. I think they have had a falling out with Berkowitz especially after they published their analysis. Berko is not happy, and even expressed in last conference call "5 years back M* thought I was great...." etc.
    Anyways, like I said, I'm in Vegas and playing with the house's money. So I'm taking a chill pill.
    VintageFreak VintageFreak in Fund Discussions
  • Warning To Yield Chasers: Beware Junk Bonds!
    I literally was about to post this very link with some caustic comments. Like do financial writers ever get it right?? Saying HYG and JNK are up roughly 13% the past year is so out of touch with reality - the reality being they are up (before today) 19.07% and 21.02% respectively. With junk bonds you look at total return (including dividends) NOT just price!!! As for Marty Fridson, what else is news? He has been warning of the overvaluation in junk bonds seemingly the past 12 months along with a bevy of other experts. Junk bonds ARE overvalued but so far the market seems not to care. They are due for a correction, maybe a very imminent correction. From being top heavy in bank loans coming into the year now 100% in junk bonds - IVHIX and MNHYX. As usual always on a short leash. At this point in my financial life want as little drawdown as possible. When you have won the game quit playing seems to be the buzz phrase with a lot of older investors ( 70 years+) thanks to the relentless bull of the past 8 years. I certainly concur!
    Junkster Junkster in Fund Discussions
  • S&P 500: 50-Day And 200-Day Moving Average Spreads
    FYI: Below is a chart of the S&P 500 going back two years, with the index’s 50-day moving average and 200-day moving average included. As you can see, the S&P has moved well above both its 50-day and 200-day at this point, and it’s currently trading at the top of an uptrend channel that began forming over a year ago.
    Regards,
    Ted
    https://www.bespokepremium.com/think-big-blog/sp-500-50-day-and-200-day-moving-average-spreads/
    Ted Ted in Fund Discussions
  • Parnassus funds
    Nothing now, but it'll be PARWX on a correction.
    I owned PRBLX for years, but sold the last batch about 2y ago. As a fund that's always tried to dip well down into mid and small, the big runup in AUM (over $15B now) has likely been a headwind. It may climb back into the stratosphere of large blend funds next time there's a big correction or bear, though - that's always where it's done the best on a relative basis (see 2008).
    AndyJ in Fund Discussions
  • Cash Will Be King in 2017
    While it's difficult to do so at my age, I'm watching Eric Cinnamond and reading his Absolute Value blog. So I'm taking profits and trying to make myself sell my losers (much more difficult). New money from my 403b sits there glaring at my failure to ride the bubble, and I worry about my "not so old" money, which is generally positive, although some of it took overlong to become so (but my idea of "new" is within the last 5 years). I did buy some XAR, due to some suggestions here.
    This is an artificial market, driven by QE, and rates have to rise sometime. Yellen will be replaced by a compliant individual, but there is an increase or two in interest rates in the meantime.
    If anyone knows when to step out of this market, they're much smarter than I. One also has to be able to predict crowd behavior, to get to the exits before they do; and some members of this crowd use megadata and computer arrays far beyond my ability, time or resources.
    I haven't put my grandchildren's money in since I have to believe there's at least a 10% decline to come, but 20% seems possible.
    As others have commented, one needs to buy when there is blood in the gutters (but, frankly, I doubt the Rothchilds were ever fully invested).
    Must admit that I'm a long way from dog food for lunch (and, hey, the French eat horsemeat, so I hear), but I bet some of that Fancy Feast with a bit of onion and hot sauce would be mighty tasty. Unfortunately, it's not actually that cheap.
    I don't think you are alone in having a lot of money in cash.
    MaryKay in Fund Discussions
  • Suggested reading for a teenage investor
    Hi Bobpa,
    Congratulations on a great gift idea and having a granddaughter to implement it. She's also a very fortunate girl with the opportunity for a really long (60 plus years) investment period.
    I hope she has the interest, the discipline, and the patience to take advantage of your foresight. Being female, she has a higher likelihood of doing so over any male probabilities.
    Given the likelihood that she will not commit any significant time to following the markets on a daily or even monthly basis, I would recommend thin books that advocate a passive investment approach.
    The Little Book series offers two obvious choices: John Bogle's "Little Book of Common Sense Investing" or Burton Malkiel's " The Random Walk Guide to Investing".
    Both volumes are abreviaions of much larger works. The Bogle book is just over 200 pages and the Malkiel work is just under that total. That increases the likelihood that she will actually read them.
    The Little Book series also has volumes that address active investment strategies, but I would not recommend them at this juncture; perhaps a little later.
    I hope this helps.
    Best Wishes
    MJG in Fund Discussions
  • This Bullish Signal Has Never Been Wrong — And It’s About To flash For 2017
    Good to know the Obama-Bull is still running, 8 years running!!!
    MikeM MikeM in Fund Discussions
  • This Bullish Signal Has Never Been Wrong — And It’s About To flash For 2017
    FYI: CFRA’s Sam Stovall says he’s looking for a long-overdue “digestion of gains,” though he adds the pause will not likely result in the end of this bull market.
    The run will continue, the chief investment strategist writes, thanks in part to improving earnings and inflation staying subdued. In support, he notes one indicator that’s close to getting triggered.
    “If you need additional encouragement that a bear market is not just around the corner, history again may offer some more virtual Valium,” says Stovall, who delivers our call of the day.
    Since 1945, there have been 27 years when the S&P has achieved gains in January and February. The stock index then finished up for the year (on a total-return basis) in every one those years, according to Stovall. That’s going 27 for 27, or batting a thousand.
    Regards,
    Ted
    http://www.marketwatch.com/story/this-bullish-signal-has-never-been-wrong-and-its-about-to-flash-for-2017-2017-02-22/print
    Ted Ted in Fund Discussions
  • T. Rowe Price U.S. High Yield Fund in registration
    New fund is "US High Yield". PRHYX currently "only" about 71% US bonds. Foreign bonds definitely not EM or Frontier heavy.
    Not sure if now is the right time, but in 30 years I doubt anyone will say the fund would have been better if only they had launched it 5 years earlier/later... unless it fails and someone on MFO remembers this thread. Maybe Ted will be around then to post it.
    joe74 in Fund Discussions
  • Bear Market Fund Defenders
    This is an old article. Look at the date. I sold DEFIX because it became too volatile for me. Was a good decision for a while after which it of course, it did spectacularly. I transferred its holdings into AUXFX. I will wait patiently for years before I buy DEFIX.
    ARTVX is closed now.
    I own AUXFX, CGMFX, FAIRX, YAFFX, FMIMX.
    AUXFX, CGMFX, FAIRX held for years and never sold. FMIMX owned in IRA for years, and as soon as it re-opened, sold in IRA and bought in taxable. YAFFX owned for years in IRA.
    VintageFreak VintageFreak in Fund Discussions
  • Josh Brown: 10 Insane Things People On Wall Street Believe
    @MJG noted: "Yes, Wall Street has many shortcomings, but it must provide a useful function. It serves and thrives independent of its many scandals. It recovers rapidly from these scandals which speak to its necessity, and also the need for regulation. All coins have two sides.
    I do believe the big kids in the money world find their favorable coin to have been struck on a single sided planchet.
    Ha..........a common legal phrasing by whomever or entity upon being fined by the S.E.C;
    Without admitting or denying any wrongdoing.
    Hand slaps of money fines and no jail time. Jeez, the small folks are still being thrown in jail for tiny crimes or implied crimes. Forfeiture of assets by private citizens before being found guilty. Hell, aside from techniques; little has changed with the "money changers" over a few thousand years.
    This link doesn't include mortgage related fines, etc.; and is related to other deeds ($12 billion in fines from 2009).
    http://www.gao.gov/assets/680/675987.pdf
    This link is for other "fine" goodies for the past 8 years.
    https://www.google.com/#q=s.e.c.+fines+paid+by+financial+institutions+for+the+past+8+years
    I haven't been asleep to the circumstance that I consider most of our investments to be mingled among the big money of the world; among many big money pimps and that this small personal sum of the global values of money is nothing less than investing "whore" money.
    Regards,
    Catch
    catch22 catch22 in Fund Discussions
  • T. Rowe Price U.S. High Yield Fund in registration
    Just wondering. ... Is this a clone of their existing one (PRHYX) which has been closed for several years?
    I doubt you'd get the same bond composition that PRHYX has, so I'd be leery of chasing performance in the hopes that this fund will emulate/duplicate the success and quality run of PRHYX. Still keeping it on my radar even though I'm not really interested in FI anytime soon, though.
    rforno in Fund Discussions