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Quite interesting- none of our American Funds or American Century funds were positive today, except for a couple of bond funds. Anything with an equity component took a small loss. You know, sometimes I really wonder about the accuracy of the daily fund figures, because I've frequently seen our funds seemingly adjust to the indexes a day after a relatively small index move. IE, they sometimes seem to track major index moves better than minor ones. Have often puzzled over this.
JAOSX positive, DWGOX up, AEDNX up, PAUDX up, AQRNX flat, a few others up lightly. Some EMs did okay today/last night. Commodities did well (oil ended at HOD, I believe, and many other commodities were up.)
Energy & Overseas did well. Normally, the fund houses would use FVP and knock down their international funds' NAVs following a big drop in U.S.....May have neglected to do so today. (OAKBX holds a lot of energy stocks.)
Reply to @Old_Joe: Hey OJ...RIMM is a bouncing ball that have fallen down my cellar stairs. Emerging Markets / Asia seems to have some upside momentum.
Reply to @bee: Thanks bee- looks like a neat setup. Unfortunately, because I frequently use Mac "legacy apps", I can't advance my Mac to the OS necessary to use Jing.
Actually, I just purchased the next generation Mac OS that my computer can use, and I believe that if I open the computer in that OS environment I could use Jing, do the posting, and then restart in the older OS environment.
May yet try to do that. Thanks again.
Note: for Mac folks, the "older" OS is 10.4.11, and the newer OS is 10.5.8. That's as high as this non-Intel G5 machine can go.
Sorry. This morning everyone new all Asia funds and those international funds with large Asia exposure were likely to end net positive. Asia trading day was over before ours began and NAV calculated day.
Fair enough Maurice... there was no point ... but let's give it a try. For starters, got 80% in stuff that bounces around like crazy (balanced, high yield, stock funds). And U.S. market results have a big impact. Many are domestic funds. But domestic markets often drive the non-domestic as well. Let's look at the funds which rose today. OPPAX, is a "global" fund holding many U.S. stocks as well as foreign. OAKBX is a domestic balanced fund with significant U.S. equity holdings. TRIGX is an "International" fund invested mainly outside the U.S. But, T Rowe Price, like others, employs a procedure called "fair value pricing" (FVP). This adjusts upward or downward the fund's NAV to reflect important events after foreign markets close. Wouldn't ya know it - U.S. market activity is one of those events. Supposed to deter savvy investors playing domestic & international funds against one another using time zone differences. FVP criteria, far as I know, are closely guarded secrets. Because of FAV, U.S. markets can and do affect how international funds behave. (Not sure if Price uses FVP on the Japan fund - suspect they do.) You are correct about QRAAX. It's a commodity fund. A dog - whose saving grace is that it doesn't correlate with equity markets. The final one I listed, HSGFX (Hussman Strategic Growth), invests in U.S. equities (using hedging strategies). A tribute to Dr. Hussman's black box that the fund rose on a day like this. Like I said...there wasn't any particular purpose. Just got tired of putting things up that are "Off Topic" so thought I'd throw something up about mutual funds. (-:
Reply to @VintageFreak: Oakmark Equity & Income and Hussman Strategic Growth shouldn't have anything in Asia. I agree with you on PRJPX. Also, TRIGX & OPPAX got some in Asia, but pretty diversified. Thanks for the reply.
I had a couple of stocks up yesterday, including Icahn Enterprises (IEP), Hutchison Whampoa and Jardine Matheson (although the latter two had been up in Asia.). Some other things held up very well, only to turn red towards the end of day. Emerging markets RE funds (APFCX) also continuing to do well.
Reply to @hank: Not to make finer point. International funds had a ballast under them, just more in Asia. And regarding HSGFX also it should be no surprise. He is consistently going down when market goes up and up when markets go down lately because of his hedged stance.
Comments
AND- how did you put that really neat graphic in there?
Hey OJ...RIMM is a bouncing ball that have fallen down my cellar stairs. Emerging Markets / Asia seems to have some upside momentum.
The image was created using Jing.
here's a short video on how to use Jing:
here's a download link for Jing...its free and very cool:
http://www.techsmith.com/download/jing/
Actually, I just purchased the next generation Mac OS that my computer can use, and I believe that if I open the computer in that OS environment I could use Jing, do the posting, and then restart in the older OS environment.
May yet try to do that. Thanks again.
Note: for Mac folks, the "older" OS is 10.4.11, and the newer OS is 10.5.8. That's as high as this non-Intel G5 machine can go.
Big Surprise. Hah!