PRWCX Shakey Start to Year Giroux favors the big ones. Probably out of necessity at this point. GE was his top pick in the recent Barron’s roundtable. Also Amazon and Kerug/Dr. Pepper. OAKBX also leads it by a few % points.
To be down that much in less than a month is concerning. Either the markets have it wrong (which I doubt) or he does.
In recent cnbc interview (late December) he mentioned waiting for more “blood” on the street before buying. So … chances are he’s nibbling. And, as I reported a week ago, he’s jacked up his leveraged loans. I think I’ve heard the lower rated paper isn’t doing so well presently. That’s one thing about OAKBX - they were mainly investment grade paper as I recall. D&C plays a bit in high yield, but not to the extent Giroux appears to be.
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TRP Floating Rate PRFRX is now 8% of my stuff. The only holding that's above the zero-line so far in 2022. (Apart from a minuscule position in ENIC, the Chilean Electric utility, which pays a tiny supplemental "interim" dividend on Friday.) Yes, as of tonight, 25th Jan, PRWCX is down -6.2% YTD. I'd be adding, if it were strategically sound for me to do so.
TUHYX HY is down -
1.44% YTD, too. Also 8% of my stuff. But these are long-hold positions for me.
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PRWCX. Microsoft 7.5%
Amazon. 5.27%
GE. 4.4%
PNC. 3.8%
YUM 3.7%
Yes, "da BIG ones!" As
@hank said.
PRWCX is still my biggest holding, at
one-third of total assets, which includes a bit of stuff which is NOT with TRP. YTD, my stuff is down precisely -4.0%. It could be lots worse.
TRP ridiculousness +1.
Grandeur Peak's 4th quarter 2021 quarterly letter
RLSFX BIVRX YTD +18% !!!! Is it open ?
I have considered investing in this fund, but the potential volatility concerns me. I believe there was a very large price drop last year in a short period of time. Any thoughts on it being a decent investment if I hold for
10+ Years?
PRWCX Shakey Start to Year Perhaps 1 balanced fund isn't enough-pair PRWCX with a value balanced fund like OAKBX which has lost -2.22%
PRWCX Shakey Start to Year Tech and growth funds are down closer to 15%
PRWCX Shakey Start to Year -1.28% today
-4.98% YTD as of yesterday.
I get negative 6.26 percent for the first 3 trading weeks of the new year.
We’re it a growth or tech fund, I’d understand. But any number of value oriented conservative funds are running circles around it this year, including DODBX & OAKBX
How Often Should You Expect a Stock Market Correction? Correction is 10% loss;20%loss is bear market;50% loss is a crash. 2020 qualified as a short-lived bear market-perhaps computerized trading will lessen the length of bear markets going forward.
Core Alternative ETF - CCOR It's a difficult question to answer, and the most honest one I could give is I don't know. But it's worth noting the goal of many alternative funds is not to beat a 50/50 SPY/Cash allocation. It's to deliver positive absolute performance beating 100% cash or T-bills while not being correlated with stocks or bonds. This fund seems to have done that at least with stocks so far. (I haven't seen its correlation with bonds, but given its different construction I would assume it isn't high.) But that doesn't mean it will do this in the future. I just find its lack of correlation, its actively managed style and the fact it delivered positive results during the first quarter of 2020 while also delivering in 2021 interesting. As for having multiple billions of assets under management, such defensive funds usually only get that kind of money when markets are poor and they, hopefully, hold up well. During a strong bull market, most investors won't even notice they exist.
More RED this morning #2 One options indicator I follow is $SKEW (Stockcharts, etc) or ^SKEW (Yahoo, etc). When puts are more expensive than calls (due to high demand from the hedgers), then SKEW is high (
140+); otherwise, SKEW is low/moderate (
120s-
130s). This is a refinement over the put-call ratio that simply uses put and call volumes. It doesn't work well by itself, but provides useful info with $VIX (^VIX).
https://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=1&mn=0&dy=0&id=p80512392701When options volumes are high, they distort the market for the underlying stocks. For example, when the retail crowd piles into the calls of meme stocks, options dealers have to buy the underlying stock to maintain their hedges. Likewise, if there is huge amount of put buying, options dealers have to short the underlying stock to maintain their hedged positions.
Grandeur Peak's 4th quarter 2021 quarterly letter Hard to compare funds as limited assets in newest fund. I last posted it was headed for
-10 %. To bad incoming money wasn't pooled for a month, so far, as that would have HELPED the -10% ! Who said timing isn't everything ?!!
Enjoy the ride, Derf
More RED this morning #2 For the 2nd day, someone is doing heavy duty selling (institutional rebalancing?) in the morning until about 11:00 AM Eastern, and then dippers come in around the lunchtime and onwards to reverse much of the morning action. VIX remains elevated at 30, meaning daily SP500 volatility of +/- 1.6%. VERY UNUSUAL.
More RED this morning #2
More RED this morning #2
Grandeur Peak's 4th quarter 2021 quarterly letter
SCHD Also fun fact.....YTD: SCHY -0.12% SCHD -3.53%
Grandeur Peak's 4th quarter 2021 quarterly letter
Core Alternative ETF - CCOR It is an options-trading/overlay fund with 90% equities holdings and 10% devoted to options. No alternatives beyond options.
