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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
  • Worst day for bonds I’ve seen in a while
    Thank you for sharing. Must be quite a bit of selling to raise the 10 year Treasury yield to 1.9%. As of Dec 31, 2021, the yield was at 1.512%. That is quick rise of 40 basis points! It is important for investors to review the duration of bond funds and to make adjustment before mid-March when rate hike starts.
    Regardless the 3-5 rate hikes expected, that is a long way to go before reaching the level (2% in late 2019) prior to point when the pandemic started. Without buying $B bonds by the Fed, stock market have to show their earning are worthy of their price.
  • International Version of PRWCX
    If one could reliably predict that variance (1.51%) 10 years in advance (as in the case of fixed rate mortgages) I’d be moved.
    But I don’t know how to forecast that far out. I find the two funds’ returns over a full decade remarkably similar considering all the unknowns that exist over that long a period. I’ll continue to hedge my bets by holding both in roughly equal amounts. Should those past numbers hold into the future, I’ll see a difference (loss) of roughy $2,150 over the next decade for every $10,000 invested. Averaged out over 10 years that’s approximately $215 per year or 60-cents a day on a combined $10,000 investment - the added cost of spreading out risk.
    Great number crunching from everyone. The visual from @Observant1 is very impressive.
    Afraid I couldn’t even name the current manager of DODBX today. (Low in celebrity status). Am aware that fund may soon be undergoing some revision by D&C.
  • TRP ridiculousness
    The source of the image is not TRP. So any problems are independent of TRP.
    The link (not even a URL) that appeared in bilvihur's post was: "[url=https://ibb.co/5G8wVJz][img]https://i.ibb.co/4KT3x0D/Capture.jpg[/img][/url]
    The URL I extracted from that was: https://i.ibb.co/4KT3x0D/Capture.jpg
    If you click on that, you'll get a page displaying the image.
    When used in an HTML IMG tag, i.e. '<'IMG href="https://i.ibb.co/4KT3x0D/Capture.jpg" /> (without the single quotes at the beginning), the browser will automatically display the referenced page as an inline image.
    The IMG tag has been around since at lease 1995 (HTML 2.0). I can't imagine any graphical browser (vs. a text browser like lynx) not supporting it.
  • International Version of PRWCX
    For 10-yr, $100 becomes $296.99 and $339.76 (by Investor. gov), respectively. So, that is +$42.77 extra for initial $100, and +14.40% over $296.99.
    For 15-yr, $100 becomes $293.01 and $410.38 (by Investor. gov), respectively. So, that is +$117.37 extra for initial $100, and +40.06% over $293.01.
  • International Version of PRWCX
    Feb. 2012 - Jan. 2022
    ------------------------------------
    PRWCX__12.92%_CAGR
    DODBX__11.48%_CAGR
    13.64% difference in final balance
    Link
    David Giroux start date: 06/30/2006
    Jul. 2006 - Jan. 2022
    ------------------------------------
    PRWCX__10.35%_CAGR
    DODBX___7.88%_CAGR
    42.31% difference in final balance
    Link
  • International Version of PRWCX
    I'm fairly certain the difference between a 13.01% annualized return and a 11.50% one over ten years is more than 14.4% cumulatively, more like 40 percentage points if this is correct: https://investor.gov/financial-tools-calculators/calculators/compound-interest-calculator I think it is the difference between a 239% cumulative return and a 197% cumulative one from the base investment, although I'm tired and my math could be off.
  • International Version of PRWCX
    For 10-yr, (1.1301/1.1150)^10 = 1.1440, or 14.40% difference in final value.
    For 15-yr, (1.0987/1.0743)^15 = 1.4006, or 40.06% difference in final value.
  • International Version of PRWCX
    To say “Over 10 years, it leads DODBX by only 1.5%” annualized and assume that is a small amount I would suspect misunderstands the power of compounding. But I haven’t done the math in this case.
  • International Version of PRWCX
    For 15 years PRWCX outperforms DODBX by 2.44% PER YEAR, that's a substantial difference.
    9.87% vs 7.43%.
  • International Version of PRWCX
    :(

    PRWCX down -1.16% today.
    I don’t care if PRWCX is up or down. Just tired of Giroux being worshiped at the alter!
    Over 10 years, it leads DODBX by only 1.5%. The gap has been narrowing for a year or more. And DODBX did slightly better today.
    10 year performance from Lipper as of yesterday:
    PRWCX +13.01%
    DODBX +11.50%
    Not to trash PRWCX (I own it). Just don’t believe in hero (or fund) worship.
  • TRP ridiculousness
    Just to be credible, this is what I saw when I logged into my account this morning:
    image
    Is this what you were trying to display?
    image
    (Click on "quote" to see the source of this post including the raw HTML - I extracted the real URL from what you entered and used that for the image.)
  • Buyout of Janus Henderson Intech unit
    I have not been paying attention (again). Somewhere in the mid 2010's, Janus' INTECH funds dropped the INTECH part of the name. There are at least four remaining Janus Henderson funds submanaged by INTECH. Their status is now apparently in limbo:
    The current supplement to the prospectus of those funds reads in part:
    Janus Henderson Emerging Markets Managed Volatility Fund
    Janus Henderson Global Income Managed Volatility Fund
    Janus Henderson International Managed Volatility Fund
    Janus Henderson U.S. Managed Volatility Fund
    (the “Funds”)
    Supplement dated February 3, 2022

    Janus Henderson Investors US LLC, the investment adviser to the Funds, and Intech, as the subadviser, are assessing options with respect to the continued management of the Funds and will announce to shareholders any proposed changes regarding the Funds at the conclusion of such assessment. Intech will continue to provide subadvisory services to the Funds in the interim.
    https://www.sec.gov/Archives/edgar/data/277751/000119312522026446/d306619d497.htm
  • No Distributions, Genuine Declines, 2/3/22
    If a mutual fund drops by a big surprising amount, one should look for possible distributions. But that didn't apply today. Here are some large declines in LC-growth mutual funds today:
    IALAX -6.49%
    MSEQX -6.40%
    TRBCX -5.40%
    FCNTX -5.23%
    etc
    Compare: SP500 -2.44%; Nasdaq Comp --3.74%, Nasdaq-100 -4.22%
    Some of these losses may be recovered tomorrow as futures and after-markets actions are very positive following AMZN good earnings news.
  • I was wondering if other MFO's users were have problems with different devices that use Apple ?
    @Old_Joe : This is the message that pops up : Amazon wants to access your Google account. Then it lists 5 different things that it wants to access !
    Flip phone user here, Derf
  • A question for the senior members of the group. Preparing for cognitive decline and more.
    @sma3…. I agree that the duration of WWINX is all wrong for the near future. My current non equity holdings have a duration of about 1.5. Just short tips and bank loan funds. But if I let the equity allocation drive any one fund solution then duration will be too long. The price of simplicity I guess.
  • I was wondering if other MFO's users were have problems with different devices that use Apple ?
    @Mark- Yeah, my first was a Mac+ too. Upgraded that to an SE30. Still have that one- fired it up about a year ago and it still works! Using a fleet of Mini's now, with some G5s for old CAD files that can't cross over.
    OJ
  • International Version of PRWCX
    Mr. Giroux’s 2nd largest holding, Amazon (AMZN), is down 7% today. (Maybe in sympathy with Facebook?) Lipper lists AMZN as 5.5% of his portfolio.
    “Too smart by half” is an old saying that might apply. :)
    AMZN is up 15% in the aftermarket following earnings...
  • A question for the senior members of the group. Preparing for cognitive decline and more.
    I agree VWINX is a conservative choice that has been hard to beat, but with stocks at an all time high (VWINX PE is 15) and interest rates so low ( VWINX duration is 8) , both of these allocations may be bad places to be in the near future. In the past the bonds have saved VWINX during market crashes. Maybe not so much in interest rates shoot up
    Most people who are left with money to manage without any experience or interest should probably hire someone, even if it is expensive
  • International Version of PRWCX
    I think golub1 is correct. The only way to get there is to build your own. But it sure would be nice to have 1 well managed international balanced/allocation fund doing the work for you.
    Still unbelievable to me that a 60:40 balanced type fund using international equity and international bonds exclusively doesn't exist. Seems like that would be something easy for Vanguard to market using their index funds. Would it ever match PRWCX? Oh I doubt it, unless that cloning Giroux thing hank mentioned pans out.
    A few very good world or global funds mentioned in this thread seem to be the closest thing available.
    Vanguard does offer the Global Wellington fund.
    The fund invests in international equities and international bonds.
    Its allocation is approximately 65% stocks / 35% bonds.
    Edit: You were referencing international balanced funds but I provided a global fund.
    My mistake!
  • Global Bonds Rally as Meta, Growth Concern Fan Demand for Havens
    XLC (Communications Services Select Sector SPDR Fund) has a 23% position in FB yet is only down roughly 6.5% 0n the day.