What Do You Think?

Puddnhead

Hi guys,
Question: Does anybody own GAINX? Been watching it......is it worth buying on weakness? And what are your thoughts on FSDIX? Anyone own this one? Also, GLFOX.......they own so much in Italy and Spain, France. What say you? Have sold MDISX......good-bye mutual series. Also, have been adding to FHKCX. Saying that, also have sold FSHCX and will also fade healthcare as we approach the election now.....and buy on weakness later. Also have heard Rumble by Lou Gray from long ago on PBS........I'm old, i.e., this is music.
God bless
the Pudd

VintageFreak

I continue to hold MDISX

Mark

About GLFOX - I've owned it off and on as the market sectors (primarily electrical utilities) wax and wane in valuations. If you don't mind a fairly steady 10% annual return on your investment and a fund that doesn't garner a lot of media attention then I'd say go for it.

"NEW YORK--(BUSINESS WIRE)-- Lazard Asset Management LLC today announced that the Lazard Global Listed Infrastructure Portfolio (Institutional: GLIFX; Open: GLFOX) received a 2018 Thomson Reuters Lipper Fund Award in recognition of its superior performance in the Global Infrastructure Funds category.

The Lazard Global Listed Infrastructure Portfolio was awarded best fund in the Global Infrastructure Funds category for the five-year period for its fourth consecutive year. It ranked #1 out of 49 eligible funds.

“We’re honored that the team’s achievements have received this recognition for the fourth year in a row,” said Nathan Paul, Chief Business Officer at Lazard Asset Management. “The team’s continued ability to exceed our clients’ expectations is a testament to their seasoned expertise and proven process.”

The Lazard Global Listed Infrastructure Portfolio seeks long-term, defensive, low-volatility returns that exceed inflation by investing in equity securities of high quality infrastructure companies. The investment team is among the pioneers in listed infrastructure investing and its members have worked together for more than a decade.

The Thomson Reuters Lipper Fund Awards honor funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers.

About Lazard Asset Management (LAM) LLC

An indirect subsidiary of Lazard Ltd (LAZ), LAM offers a range of equity, fixed income, and alternative investment products worldwide. As of December 31, 2018, LAM and affiliated asset management companies in the Lazard Group managed $215 billion worth of client assets. For more information about LAM, please visit www.LazardAssetManagement.com. Follow LAM at @LazardAsset."

MikeM

I have a different take on HC. Health Care is one segment of the market I would not sell now and would think of adding to, IMHO. HC has already dropped and has been the slowest of sectors to recover. HC is said to be somewhat recession proof and there is a strong belief a recession isn't too far into the future. I actually bought a couple stocks in that segment with my play money, UNH (United Health Care) and CVS (though CVS is classified consumer stock it's growth is in the prescription drugs growth and insurance, Aetna). Both had pretty substantial drops in the past couple months.

FWIW as to where we are and where we are likely headed in this economic cycle:

https://www.thebalance.com/best-sectors-for-stages-in-economic-cycle-2466867

Late-Cycle Phase: Economic growth is slowing and begins to appear overheated as inflation climbs higher and stock prices begin to look expensive compared to earnings (see S&P 500 Index P/E ratio). Best sectors in this phase include energy, utilities, healthcare, and consumer staples.

Recession Phase: Economic activity and corporate profits are declining, the stock market may have already entered a major correction, and interest rates are at peak levels. Best sectors in this phase include the same sectors that began to gain favor in the Late-Cycle Phase. However, this phase is typically the shortest (usually less than a year) and moving into Early-Cycle Phase sectors can be considered.

BenWP

I am with @MikeM in continuing my hefty allocation to healthcare. I used to own GLFOX, but I think it's too Europe-centric, even though I have nothing against global funds. I made a few bucks on CVS, but I'm out now. UNH is the top holding of my main healthcare fund, BME. Over the last few years, I've invested in water and infrastructure with OK returns. Both areas are good "stories," but are not going to have out-sized returns unless our pols loosen the purse strings and do something about "our crumbling infrastructure."

Crash

My stock portfolio carries 20% in healthcare, but I'm down to 34% in stocks. (Technology = 20.35%, highest sector weighting.)

Puddnhead

Hi guys,

VintageFreak: This is old.....back when he who knew ran the show. They now are slow to know. Much was made but not paid, so now......the bill is due, i.e., me. Hold if you wish, but remember when the Euro tunnel was.....he who was great slew the dragon then. Now it's a shadow.....fleeting at best. Those that lead are average at best. Listen to me, brother, no fight do I pick, as a market is made on the sides we do pick.

Mark: Yes, this is a fund I have owned for a long time. Medals and b.s. aside, I own a toehold. Why do you own Italy, Spain and France? WTFrankenstein? It's trash you are playing with or QE, no? Are there no better places for cash? Really???? The Dukester says they live in the past. My thinking is he may be right.

MikeM, BenWP, Crash: He who is blonde and is tweeting the most will not stand for them in this space. They who are not him, i.e., Democrats. They will surely crush it for the votes it will bring. It is early. My view is sell now and patiently wait. Nothing good can come from those who have no friends and live in houses of glass. If you looked at what I sold, it's the most unloved in the healthcare field. Managed care is in the U.S., not worldwide as drug companies are as well as the P.M., i.e., us. They will, I believe, get hurt the worst for what it is they do. Also the portfolio has only 30 holdings. Too small now for me. They had a healthcare meeting in D.C. a while back and things got crushed. 20 is coming.
So where have I added?
FHKCX, slowly on weakness.
FSDAX, where Boeing is its largest holding.
Better chatter in Defense than healthcare. I'm also about 50% cash. I wish I'd bought more in December than I did. I guess my intestinal fortitude isn't as big as it used to be. lol. If I could go back, I would add a chunk to VWINX. How foolish was I??? Darn! As VWINX is core and I won't sell it.
God bless
the Pudd

VintageFreak

@Puddnhead. Yes, you are right. However, some times you have to trust the "process" rather than the "people". At least that's what we hear from Morningstar whenever it is convenient to their recommendations.

I own both MDISX and MQIFX. Only a smattering of both. I expect to build positions in them in the next correction unless something else changes.