The World's Richest People Lost $70 Billion Yesterday Hi Catch22,
Old Skeet is being very humble when he claims that his portfolio value estimate was simply a SWAG.
Most likely, he did what I infrequently do to easily and lazily estimate the impact of a day's action on my portfolio. I need just two market return numbers, and a rough asset allocation approximation.
For Monday's debacle, the broad US equities were down 2.2%, and the Developed Foreign equities were down about 2.3%. Most investors have a 60/40 equity/bond mix with maybe 15% in foreign equity holdings. That's suffificent info and assumptions to estimate Monday's losses, further assuming the bond positions don't contribute much in a single day.
The calculated loss for each one million dollars in a portfolio is simply 0.022 X 450000 + 0.023 X 150000 + 0.000 X 400000 = a minus 13,350 dollars per one million in the portfolio. If the total loss is about 70,000 dollars, the approximate value of the portfolio is 70,000/13,350 X 1,000,000 or about 5.24 million dollars. That's exactly how I do my quick and dirty calculation.
I congratulate MFOer Ted on having the resources to suffer that loss. It might hurt a little, but he and his portfolio survive to fight yet another day. We all do that. We all understand and accept the risks.
Best Wishes.
NorthCoast Retirement Portfolios
Franklin Templeton Sees Costly Legal Fight Over Puerto Rico Bonds Due to their conservative nature Vanguard has much lower allocation to PR bonds. The High Yield Tax-free bond fund has the highest exposure fund at 1.8%.
Undoubtedly true, but because Vanguard is so large, the complex as a whole was #6 in PR bonds as of a year ago. (Still, an order of magnitude less than Oppenheimer.)
See table in this
Bloomberg article from Feb 20
14.
NorthCoast Retirement Portfolios
Franklin Templeton Sees Costly Legal Fight Over Puerto Rico Bonds Due to their conservative nature Vanguard has much lower allocation to PR bonds. The High Yield Tax-free bond fund has the highest exposure fund at 1.8%.
Franklin Templeton Sees Costly Legal Fight Over Puerto Rico Bonds
Franklin Templeton Sees Costly Legal Fight Over Puerto Rico Bonds
Mutual fund companies in Seattle & Silicon Valley I'd almost forgotten about Fremont funds - as Ted's link reminds us, Fremont Bond Fund (FBDFX) was one of the two
cheaper ways to get access to Bill Gross (the other being Harbor Bond Fund HABDX).
What the links don't tell us is that Fremont Investment Advisors Inc. (
formerly at 90 New Montgomery St, SF) was caught with its hand in the cookie jar, engaged in
market timing and late trades, in 2004.
A
class action suit was filed in March 2004, just months before Fremont sold its funds to Managers. Hmm.
The World's Richest People Lost $70 Billion Yesterday Hi
@Old_Skeet What is the
1.25% decline you noted? How is this number derived?
Just curious.
Take care,
Catch
The World's Richest People Lost $70 Billion Yesterday @Ted,
Not bad for an accredited investor such as yourself.
With those kind of losses, I pegged you to have about 5.5 million invested. That $70,000 paper loss sum would have resuled from a decline of about
1.25% on $5,500,000.00 invested.
Have a good day ... and, good luck to you. And, by the way, luck is defined, by me, as the result of good preparation finding opportunity.
Your bud,
Old_Skeet
Fidelity: Think Stocks Are Expensive? Video & Text Presentation
The World's Richest People Lost $70 Billion Yesterday @John Chisum: I own Apple through two funds, SPY 3.94% of fund, and QQQ
14.22 % of the Fund. As I stated in a previous message , don't get to excited by their watch, search engine 'Spotlight' or music app., APPL is still all about phones.
Regards,
Ted
Artisan Developing World - Lewis Kaufman's Fund Kaufman's only fund management experience from what I can find on M* has only been the Thornburg Developing World fund starting in December 2009, so to
@VintageFreak 's point we don't know much about how he'll do in a "real" down market. The downside capture ratio for THDIX over the last 5 years is only 8
1%. so at least he did well when the market was down without having a bear market.
Mutual fund companies in Seattle & Silicon Valley
The World's Richest People Lost $70 Billion Yesterday Hi
@TedAm I to believe that with your statement, "lost $70,000 yesterday !" ;indicates that you sold portions of your portfolio, for a loss? I will presume, that with your knowledge; your portfolio was down this amount; but not a loss.
Our portfolio was down, too; but July
1 indicates a replacement of much of this amount, if the markets don't "jerk" for some other reason(s). Our down was smoothed by investment grade bond holdings; but I don't expect, at this point, much more positive action from this group, as I scratch my head about this area.
Take care,
Catch
