https://www.detroitnews.com/story/business/2020/05/29/stocks-slip-wall-street-still-headed-weekly-gain/111878776/
Stocks erase a loss as worries over China tensions fizzle
THE ASSOCIATED PRESS | ASSOCIATED PRESS
Updated 10 hours ago
Stocks closed out a solid week on Wall Street Friday with a late-afternoon rebound after worries that President Donald Trump would reignite a costly trade war with China faded.

https://www.forbes.com/sites/gauravsharma/2020/05/29/5-top-canadian-oil-stocks-to-buy-in-2020/#2462650b2138
5 Top Canadian Oil Stocks To Buy In 2020
Couple of interesting oil companies to look at now demands in energy sector maybe risen again

https://www.marketwatch.com/story/the-stock-markets-outlook-is-more-bullish-than-you-might-expect-2020-05-29
The stock market’s outlook is more bullish than you might expect
Published: May 29, 2020 at 10:42 a.m. ET
By Simon Maierhofer
/Snap-back rallies tend to be positive for prices, history shows/
Could be a very special June/july. Sp500 have cross /hovering 200 days moving average. USA opening up again and it may seems investors maybe forgetting what we faced just several weeks ago.

Good evening @Old_Skeet; When you mention being down a mere 5 % , is that ytd ?
Also do you have any ideas as to why SVAAX took a big hit during downturn , yet now it seems to be slow to recover? Schwab is showing still down 20% from its high.
@MikeM : I was wondering how your other portfolio is doing in comparison to Schwab Int. Port.?
As for me, I just crossed the - 10% as of a few days ago.
A good weekend to all, Derf

As on market close today, I have the S&P 500 Index off it's 52 week closing high of 2/19 by 11.3% and up off it's 52 week closing low of 3/23 by 36.0%. For me, since I was a buyer of equities, in the stock market swoon, has now help me in the rebound as I am now down a mere 5.0%.

Personally, I enjoy reading articles like the one under discussion for the added insights into the workings of funds it conveys. So, I never view any particular fund approach being depicted by an author as “good”, “bad”, applicable or non-applicable to me. I just enjoy the extra depth of knowledge conveyed. In “Investing 101” some decades ago I learned that a “bond fund” is not a “bond.” They’re very different animals and behave differently. Pretty simple stuff. I assume most here who own bond funds understand that distinction.
What has changed is that 25 years ago prevailing rates were much higher. The manager had “wiggle room” to play the rate curve and grab off a decent return for his investors without taking great risk. But with rates as low as they are, managers are in a real bind and the risks of substantial loss (even on investment grade paper) are much higher today; while the potential return is paltry. That doesn’t even begin to address the complex rating issues for lower rated bonds. Nor does it address the substantial changes in trading habits that have evolved since the day when one called in his fund exchanges over the telephone (the corded variety).

@bee, Depending on which phase the investors are in, retirees may have have 5.5 years timeframe to recover. The recent 30% drawdown would require 47% return just to reach the break-even point.
Assuming the retirees chose a more conservative allocation, say 50/50 as they approach the retirement date, the drawdown of their portfolio would near 15% and that is more manageable. Challenge today is finding bond funds with yields north of 2% without incurring higher risk including junk and EM bonds. Even the investment grade bonds went down to 8% during the sell off in early March as investors fled to cash. The market has recovered some in recent weeks but now the trade war with China just flare up again.

@catch22: I don't recall seeing any daily/weekly trade(s) conformation here as to what is stated by @FD1000 for his account(s) returns.
You don't have to believe anything I say. The chance I will post all/any of my trades are slim. The following are several points from the past.
1) I retired after 23 years after starting investing 1995-2018. It's all from savings and investing. Never got any help, stock options, or inheritance in the past or in the future.
2) In the last 3 years, my portfolio performance was above 9% average annually with SD < 2 (it's 1.91). I never lost more than 1% from any last top. My goal was to make 6+% with SD<3 which means I easily passed it.
3) My portfolio now is about 33 times our yearly expenses and we still don't take out SS.
If you think the above is a dream then I'm OK with it

@FD1000
https://investopedia.com/terms/l/liquiditypremium.asp

I know the illiquidity of Interval Funds and why I would never invest in them.

@MikeM

...you can put together a portfolio of decent companies trading at about one times book value and seven times trailing earnings, with a trailing dividend yield of over 6%. That’s pricing in a really bad outcome, which is comforting. If you think earnings are merely going to be stable, you have an earnings yield of 14%.

I'll "settle" for that....but where do I find it?
Does GMO have such a fund that I don't have access to?

A T. Rowe Price Read:
An Overview of Market Resilience

On average, each of the 11 recessions since the end of World War II has lasted almost 22 months, and market recovery times have ranged from two months to a little over five-and-a-half years

Charts of previous Recessions:
https://screencast.com/t/nMBImzT5lAvV
Article:
Market_Resilience

The interviewer asked the question about their EM predictions. This was the question and response from the article:

You’ve recommended emerging market stocks since 2017. That hasn’t panned out. Why do you still like them?
The average emerging stock is trading at half the valuation of the average U.S. large-cap stock. We’ve seen in emerging the same thing we’ve seen in the developed world: A relatively small handful of growth stocks have outperformed the indexes hugely, and half of the universe or more has been left behind. As a result, you can put together a portfolio of decent companies trading at about one times book value and seven times trailing earnings, with a trailing dividend yield of over 6%. That’s pricing in a really bad outcome, which is comforting. If you think earnings are merely going to be stable, you have an earnings yield of 14%. You don’t need to imagine good things happening to get good returns out of companies trading at those valuations.

Another pointed question on their accuracy around the US stock market:

Does that cause you to wonder if you should tweak your model to take secular changes into account?
Over the course of those 20 years, we have done a lot of digging into our assumptions, to understand where things have played out differently than we expected. One of the striking [observations]: Profitability around most of the world has been stable. Profitability for U.S. small- and mid-cap stocks has been stable. The one place that was absolutely not the case is U.S. large- caps, which have seen profitability, and their apparent return on capital, move up in a way that is fairly unique.

Early this week I rebalanced out several % US equity to cash. Gradually increase gold position as I lost confidence of this irrational market -14.7% unemployment and increasing. My defensive positions in utility and REIT have been deciminated. The only position that fared better is my Total Bobd Index in 401(K) is doing well at 5% YTD return although yielding 1.48%.

@sma3 +1. GMO always sounds so reasonable... just not right. I guess it shows just how hard market timing or even asset class timing is. Slow and steady (like VWINX) seems a better way, at least for mere mortals.

GMO has been saying EM will out preform for years.. Eventually by the roll of the dice they will be right I guess. I think they base a lot of their opinion on valuations. This outpreformance may eventually be is true but the only thing Brazil is out preforming on now is new Covid cases and deaths, for example. I think Covid will decimate EM.
GMO website has many very long and very thoughtfully argued position papers, including a number by Grantham that are valuable about climate change, but I have never mad any money following their advice.
Inker has just cut equities to 25% in GBMFX the global allocation fund he has run for decades.
https://www.morningstar.com/funds/xnas/gbmfx/analysis
Mere mortals can't get into this fund, although it is not clear why you would want to with it's middling record over the last few years. TIAA offered it for years in their retirement plans, but recently removed it probably because of nonperformance. My wife's account would have been better off in VWINX which has a ten year return of 105% vs GBMFX 38%
Every dog may have it's day....

twas just kidding about FD and my moolah, and forget about him posting his trades, etc. i do take him at his word, however, as regards his returns.
meanwhile, ben f is an ancestor of mine ... and i've got the massive forehead to prove it, if not the brains behind it.

Thanks @linter,
I’ve no reason to doubt FD1000’s word either. Everything posted here - including by me - should be taken within the context, as I think @Catch22 intended, of being non-verifiable assertion. It also needs to be considered within the context of the poster’s age and circumstance. For younger investors, a couple 10% “down years” followed by a couple 25-30% “up years” ain’t too bad. For others that might be too much volatility.
I’ve resolved in the past to reveal as little as possible here of the investments I own, recognizing that such information / comment is largely non-verifiable and possibly non-applicable to others. Like Franklin, I sometimes find resolutions difficult to keep.
-
@WABC - You just made my day with your above Franklin link. :) Here it is again for benefit of others: https://www.goodreads.com/quotes/98062-in-all-your-amours-you-should-prefer-old-women-to / It begins, “In all your Amours you should prefer old Women to young ones ... “
Such despicable thoughts. So eloquently stated. Now, me wonders if it might have been intended as satire; while being fully aware that in life Franklin bore a rather raucous reputation, reputedly fathering several children out of wedlock.

Pretty wild days for sure. I keep remind myself the stock market is not an accurate reflection of the economy especially the high level of unemployment - 14.7% and increasing. Sad sight of seeing long line of people getting grocery from food banks. When this situation stabilizes, where will the economy be? Several countries are way ahead of US in their recovery.

Perhaps of interest to those invested in the country or area.
ARTICLE

@LewisBraham
Interesting article.
https://www.barrons.com/articles/this-mutual-fund-to-etf-conversion-will-be-an-important-test-of-active-management-51590693520
(has a paywall)

V shaped recovery- from email
/Thursday, May 28, 2020
1. The V-shaped market bottom that couldn't happen (but did)
2. Where will you go out to eat?
3. One approach to the social media battle
Market Moves
For most of the day it appeared that stocks had shrugged off the profit-taking behavior that characterized the past two days, however in the final hour of the session it returned. Indexes that were up more than one percent closed down for the day. The Nasdaq 100 (NDX) and the S&P 500 index (SPX) closed just slightly lower, while the Dow Jones Industrial Average (DJI) and the Russell 2000 index (RUT) closed down -.5 percent and -2.5 percent respectively.
It is typical for a market that has a V-shaped move (as seen in the chart below of Invesco's Nasdaq 100 index ETF (QQQ), that when the price returns to its former highs, resistance occurs and sellers begin taking profits. For the bull-market in stocks to regain its footing, however, the move will have to continue, and other index ETFs, such as State Street's S&P 500 index ETF (SPY) will have to follow this same pattern. It is surprising to look at this chart considering how many people said (and still say) that a V-shaped recovery just isn't in the cards. It seems that Nasdaq investors don't buy that line.
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Where Will You Go Out to Eat?
In states that have reopened, people are returning to restaurants. Since it is national hamburger day in the U.S. (really, it is), you might consider where you want to eat. Or at least what kind of establishment you'd consider investing in right now. While some think the idea is premature, others are hungry for values.
The chart below compares share prices of State Street's consumer discretionary index ETF (XLY) with the following restaurant stocks, including Chipotle Mexican Grill (CMG), Yum Brands (YUM), Del Taco (TACO), Sysco Systems (SYY), Darden Restaurants (DRI) and Cheesecake Factory (CAKE). It is important to note that the best of these (CMG) is well above the sector as measuring from the February market highs, while the worst of these (CAKE) is struggling to establish an upward trend. Momentum investors will clearly favor the first, while value investors will favor the latter.
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Read more:
Domino's Pizza Stock Nears Major Breakout
Twitter Stock Moves Lower After Trump Threatens Section 230 Action
Defense Stocks Could Head Back to Bull Market Highs
One Approach to the Social Media Battle
With the U.S. presidential election only a few months away, social media advertising will be ground zero for political advertisement spending. Investing opportunity knows no political leanings, and neutral-minded investors might find opportunity in the recent headline-driven spat between U.S. President Trump and Facebook (FB) and Twitter (TWTR).
The chart below provides one way this may be done. The two companies in question are in the top two thirds of the chart (click for a bigger image). The bottom third of the chart displays an indexed price derived by dividing the price of TWTR shares by the price of FB shares. This price index is then overlaid by a 50-day Donchian Channel indicator. When this index crosses the from the bottom to the top half of this indicator, that specifies a time to buy Facebook shares; conversely, when the price drops below the middle, it signifies a time to buy TWTR shares.
Surprisingly, by switching a specific amount of money between these two stocks in binary fashion, an investor would have outperformed both stocks by following this strategy. This is not a recommendation to anyone, but merely an example of how shrewd chart watchers can find opportunities even in everyday news items.
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The Bottom Line
Stocks revisited the profit-taking pattern by selling off late in the session. Given that the Nasdaq 100 has completed a V-shaped recovery, it seems statistically likely that the upward trend may eventually continue and find its way higher. If that were to be true, some stocks that might benefit would include restaurant stocks and social media companies. Both of these industries are likely to see increased demand for their services over the summer.
[email protected]/