Barron’s likes asset managers From current issue - BlackRock is their top pick. It’s stock value is back to 2018 levels. These firms are a play on an eventual rebound in stock prices and a revival of investor interest.
Re T. Rowe Price, Baron’s recommends the stock, but mentions some recent problems at the firm:
“T. Rowe Price has taken one of the biggest hits in the sector, with its shares down 46%, to $106. The former investor favorite has had outflows, and the performance of its growth-oriented mutual funds has been dismal this year. One of its flagship funds, T. Rowe Price New Horizons (PRNHX), is down 40% this year.”
Others mentioned as attractive acquisition candidates (no particular order):
Franklin Resources
Invesco
AllianceBernstein
Article: Asset Managers Are Worth Buying Now - by Andrew Bary
FWIW
Importance of Consecutive 90% Down Days ???? Over the past month,
losses among sectors have been fairly uniform. Overweight investments in the energy and utilities sectors mitigated my overall YTD stock market losses until then with the past week hurting my portfolio the most. It appears to me the stock market decline has recently entered a new, more generalized selling phase as it moves towards it's eventual bottom. So, I suspect the 90% down days information at the start of this thread represents more than random event -- particularly if it truly spans almost
100 years of data. Every cycle is different and the recent Fed activism adds a new wrinkle. But, even so, I wonder if history could provide useful information to those who are able to read it.
2022 YTD Damage :). Funny you should mention that. I hold both PRWCX and (my wife's T-IRA) is in BRUFX. It's a very stinky year. But we are riding it out. YTD I'm down -
18.2%. That does include just 3 single stocks, which are not a great big piece of the portfolio yet.
RIDING THE STORM OUT:
Wealthtrack - Weekly Investment Show “Mary Ellen has 43 years of investment experience managing a broad range of fixed income portfolios. She is responsible for the formulation of fixed income strategy as well as the development and implementation of all fixed income asset management services. Mary Ellen serves on the board of Baird Financial Group, is President of the Baird Funds and is chair of the Baird Diversity Steering Committee.” SourceCurrently age 64. Must have begun managing money at 2
1. The
Bond Bull began 2 years later.
2022 YTD Damage Another possibility is BRUFX (Bruce fund). Like DODBX its stock holdings are large value, while PRWCX/TRAIX is large growth. But while DODBX has a 49% turnover, Bruce is only 4%. So in a non-tax-deferred account your after tax return is higher with BRUFX than with DODBX (9.54% vs 9.08% average over last 3 years and 7.62% vs. 6.97% average over 5 yrs. ), but 1 and 10 yrs DODBX did better.) I think that TRAIX and BRUFX complement each other. You need to buy Bruce directly from them, but it is easier to hold as it is considerably less volatile (3 yr beta of 0.95 vs 1.34 for DODBX and 1.04 for the T. Rowe Price offerings.). Bruce's site is www.thebrucefund.com
Importance of Consecutive 90% Down Days ???? In 2008/09 this indicator only led to more declines. Another market tidbit courtesy of Charlie Bilello. This year to date ranks as the third worse start for the S@P since 1928. In the previous seven worst starts the S@P always closed the year higher than it’s June 17 close.
