Fidelity Contrafund Continues To Slash Stake In Struggling Chipotle A diversified mutual fund (let alone a non-diversified fund) is
allowed to own up to 10% of a company (so long as that doesn't constitute more than
5% of the fund's assets).
Chipotle has
nearly 30M shares outstanding, so Contra's 2M at the end of 201
5 was under 7% of the company. And with over $100B in AUM, those shares worth under $1B at the time (less now) represented less than 1% of the fund.
The numbers seem so large only because Contra is such a huge fund.
Chili's is
classified as casual dining. In this group, it strikes me as near the bottom of the pile, similar to TGIF in atmosphere, portions (big) and quality (greasy). It's okay, I'll eat there in a pinch. But there are better ones
in the category. For Tex Mex, I'd take Chevy's over it any day.
Chipotle is in a lower "class" of restaurants - fast casual. I find the food much better (and cheaper), and while IMHO it is one of the better ones in its class, it has
solid competition from places like Panera and Cosi.
Americans' Median Net Worth by Age -- How Do You Compare? Hi Davidrmoran,
Indeed"The Bell Cirve" unleashed a firestorm of controversy when released. Actually, that was expected and one of the reasons why my wife and I purchased the book. It did not disappoint. It is still hotly debated, and Murray still vigorously defends it. Here is a Link to a relatively recent interview:
http://www.aei.org/publication/bell-curve-20-years-later-qa-charles-murray/Controversy is not bad. When the subject matter discusses white/black performance scores, one should anticipate controversy-squared.
I haven't opened the book since 199
5 so I dusted it off. It is a heavy weight study with an extensive Bibliography and 7 appendixes. My copy is a serious 84
5 pages long. I'm sure I didn't agree with all its findings or its methodology but I do remember being impressed with the work it reflected.
When I was in the military, I was assigned to score standard tests given to all recruits. It is not an overstatement to reflect that many answers from both whites and blacks were ridiculous. That's a sorry reflection of our educational system. Now that's a "glittering generality".
I don't plan to visit the tome again. There are more updated assessments of the topic if it attracts your interest.
Best Wishes.
Americans' Median Net Worth by Age -- How Do You Compare?
Americans' Median Net Worth by Age -- How Do You Compare? Hi Guys,
I don't have much to contribute to this current exchange because I have not devoted much time or thought to UBI (Universal Basic Income). I perceived it as an idea well ahead of its time for anything approaching adoption in one of its many potential formats. It has had and will continue to have a challenging uphill climb. It was recently convincingly defeated in a Swiss referendum. Here is a Link that reports on the Swiss vote:
http://www.nytimes.com/2016/06/06/world/europe/switzerland-swiss-vote-basic-income.htmlOne of its early and persistent advocates is prolific author Charles Murray. I was most impressed with his coauthored book "The Bell Curve". He developes his arguments with great care and much data. Here is a Link to a recent article by him that was published in the WSJ.
http://www.wsj.com/articles/a-guaranteed-income-for-every-american-1464969586It's a rather lengthy article but a worthwhile examination of the pros and cons of the UBI controversy. All UBI plans are complex. That must be so when redistributing national wealth. The issue is so complex that any implementations of UBI are likely to be in the distant future. I choose to not invest much time examining the many options since they will most assuredly and dramatically change with compromise a key element. Enjoy.
Best Wishes.
Seafarer On the Matthews-Seafarer question,
the chart shows MAPIX (AF's old fund) still outpointing SFGIX* since SFGIX's inception, +41.8% to +30.
5%.
Yes, they're different animals, but generally I've thought Foster appears to be good manager who's made a mistake with his long-running underweight to Asia (and at one point, before I stopped following the fund closely, some not-so-hot security selection in Latin America). The Asia underweight may seem slight, but over time, it's had to have some effect.
Just another view ...
* If the chart shows only Seafarer, as I think a direct link sometimes does, just add MAPIX to the chart to see the pattern.
Americans' Median Net Worth by Age -- How Do You Compare?
Scottrade Exploring Sale
Scottrade Exploring Sale Like I said above, I already have Schwab. I also asked if I can open another account at Schwab. Now that was a bad question.
The reason I have multiple brokerage accounts is to spread my risks. I am a very paranoid person. Imagine if I only had account with Wellstrade.
I have portfolios at Vanguard, Fidelity, Schwab, Merrill and Scottrade at this time. That's why I own close to 50 funds. I guess I could own 40 funds. The point is not to own 50 funds with two accounts at 1 brokerage.
TRP brokerage NTF offerings are scarce and I use it for managing inlaws money so don't want to mix things. I do have IRA at TRP and Scottrade. I could transfer IRA to Schwab.
TradeKing sucks I just found out.
So I have one fund BPRRX at Scottrade that I will lose since it is closed to new investors. Others I could either sell, or maybe some of them include in other portfolios if I really need.
Scottrade was so good to me. Is there any chance Scottrade will stay as a unit of TDA? Or maybe Scottrade brand has better name and TDA will assimilate into Scottrade and the latter's back-end systems (sic) are retained. Freakin' headache!!!
Consuleo Mack's WealthTrack Preview: Guest: Bruce Berkowitz, Manager, Fairholme fund Whenever I hear him speak or listen to an interview, I walk away thinking, What a smart guy, his fund's gotta turn up sooner or later. Then it bombs another year. Rinse and repeat... I'm still holding FAAFX (about 7% of my portfolio, though it would be more if it had grown at the same rate as the rest) only because I'm sure that the year after I sell it, it will pop 50%.
