Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

In this Discussion

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.

    Support MFO

  • Donate through PayPal


  • thanks for this interesting read. I still like prpfx permanent portfolio compared to this one...
  • Reply to @johnN:

    One must presume Mr. Gundlach will maintain the mortgage securities aspect of this fund; but, he did not make any direct statement regarding the fund relative to his overall market perspective.
    There are many other funds that one may "like"; but do not confuse the nature of this fund compared with PRPFX. They are, of course; different vehicles upon the investment road, another portion of a balance.

  • PRPFX is certainly a different fund; in terms of Gundlach, I like the mash-up of Doubleline and Rivernorth - RNSIX and own that.
  • There are a number of options in the go-anywhere bond category in addition to Mr. Gundlach's fund. These include Loomis LSBDX, Artio JBGIX, BlackRock BSIIX, and Osterweis OSTIX. Using a combination of 2 or more seems to make sense to me, especially when combined with a couple of funds that specialize in foreign bonds, like TGBAX and GIMDX. Despite Loomis' 2008 meltdown, managers Dan Fuss and Kathleen Gaffney have a very successful history and understand fixed-income markets as well as anyone. We like Artio and Osterweis for their somewhat unorthodox strategies. And BlackRock is intriguing for its ability to make bets for or against sectors. We have not used the DoubleLine fund for a number of reasons that have nothing to do with management's abilities or success. We think there are other ways to get it done.
  • Howdy BobC,

    As always, thank you for your input. In agreement as to the mixes; as this house has a blend of numerous bond funds, including some of those you noted. We've created a "fund of funds" with the bond funds...:); in an attempt to obtain overall benefit from a range of management styles and sectors.

    Take care of you and yours,

  • Is there some good reason to not use a closed end muni bond fund in an IRA for further diversification and its higher yield.. Use at least A rated, national fund that earns 100% of its distribution and pay about 7% on its market price. For example NQM.
  • Hi Catch,

    Thanks for this article. It seems a good manager in this space (bonds) tries to do two things, reduce risk while providing inflation beating returns. Gundlach has a talent for finding distressed risk which can add additional value and juices returns... at times. He is either skillful or he has a lot of Gund-luck (Gund is brand of soft cuddly stuffed animals my daughter takes to bed). He seems to have a track record of skill than just gund-luck.

    Dan Fuss of Loomis Sayles says this stuff (bonds) is usually boring or, at least, it should be in a normal market environment. We have anything but boring these days in the banking sector/securities market and therefore, opportunity exists for those who know how to navigate the landmines. Treasuries get down graded this month and yet they are having their best returns as people flock to them...I don't get it. Either I'm missing something here or someone is not telling the truth. Maybe a little bit of both.

    Seems like some of the best opportunities are in the distressed bond space. Finding good bond managers might be worth going further out on the risk spectrum than I am accustom to.
  • Reply to @catch22:
    Hi catch, in terms of bonds, we have both indexes + active approaches, and we have portions in vanguard total bond market etf, lsbrx loomis, these would be good we hope for long term. Although gunlach appears to know what he is doing but his fund is 'too new', we would probably wait for at least another yr or two then would consider buying it. Bob C gave great ideas for bond investing imho
Sign In or Register to comment.