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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.

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Wealthtrack - Weekly Investment Show - with Consuelo Mack



  • December 2nd Episode:

  • December 11th Episode:

  • Dec 18th Episode - Part 2 with Ed Hyman

  • December 22nd Episode:

  • At the end she mentions have a wonderful Thanksgiving holiday . I'm guessing they tape ahead ?!
    Stay safe, Derf
    P.S. Thanks bee
  • Jan 8th Episode:

  • Jan 15th Episode:

  • Jan 22 Episode:

  • beebee
    edited February 2021
    Feb 5th, 2021 episode:

    RYSEX is ranked #58th by US NEWS (Vanguard Funds are ranked #1,2,&3):

  • Thank you for posting. Have not follow Royce funds since they were sold to Legg Mason. I hope the rotation will hold in the coming years.
  • beebee
    edited February 2021
    2/12/21 Episode
    Diversification works well...when you don't need it.

    - Stay invested for the long term.
    - Diversify for the upside, not the downside.
    - How do treasuries and bonds help investors stay invested on the downside?
    - Risk Manage Equity Portfolio (Is PRWCX be such a strategy?)

  • edited February 2021
    @bee, thank you for posting. This WealthTrack is particularly informative.

    You asked a few questions.
    1. Treasury. Low bond yields prevent treasuries to rally on the upside. He suggested holding some longer term treasury since they have lesser correlation to stocks comparing to other bond asset classes.

    2. PRWCX is not a risk managed equity fund since all stock and bond positions are long. It is, however, a highly flexible asset allocation fund. Risk managed equity typically have several components within the portfolio to short the market as part of the downside protection. Some examples are listed in Calamos funds below.

    Although Pimco bond funds are not considered hedge funds, they use swaps and other instruments routinely to reduce the drawdowns.

    T. Rowe Price does have an alternative fund, Multi-strategy total return fund, TMSRX

    @David Snowball also profiled this fund last year in great details.

    In addition, @Charles Bolin contributed a very nice article in MFO's commentary last year. Table 2 contains lots of alternative funds/ETFs to consider. Charles obtained these information from the MFO Premium Lipper's database.

  • I've lately seen the assertion from David Moran that almost half of holdings in PRWCX are short? I've read remarks from several of us on MFO about it, and they are contradictory regarding David's assertion. What is really the case with PRWCX?
  • edited February 2021
    If in doubt, it would be the best to go direct to the source - T. Rowe Price. I confirmed its profile at T. Rowe Price, M*, and Fidelity, and there is NO short positions that are listed as negative % under the composition tab in three different sources. In addition the annual reports did not mention short positions in the portfolio. Tend to believe there is an error in Davidmoran's source from M*. I used a legacy M* link from msf that differs from the updated one David used.
  • beebee
    edited February 2021
    Feb 20th Episode:

    Beyond Diversification: What Every Investor Needs to Know About Asset Allocation:
    On October 28th, Sébastien Page and Chris Dillon discussed principles from Sébastien’s recent book, “Beyond Diversification.” Sébastien combines his 20 years of investing experience; analysis from more than 200 academic articles; insights shared from a cast of expert colleagues at T. Rowe Price; and, perhaps most importantly, practical lessons passed down by his father, a renowned finance professor.

    Against the Wind (CNBC Interview):

    Sebastien Page's Bio and Articles:
    Sébastien Page, CFA, Head of Global Multi-Asset
  • edited February 2021
    @bee, thank you for posting of the 2nd Sebastien Page interview. Very informative on the 2021 investment situation and beyond. Bank loan funds or floating rate funds are an attractive asset class in bonds.
  • beebee
    edited February 2021
    Feb 26th Episode:

    Free Issues (Grant's Interest Rate Observer):

  • Weird. Here in DC I got a re-run from last summer with Jim Rosenblatt of Gotham Securities. ;/
    bee said:

    Feb 26th Episode:

    Free Issues (Grant's Interest Rate Observer):

  • March 5th Episode:

  • beebee
    edited March 2021
    March 13th Episode: Farewell to Mutual Funds

  • beebee
    edited March 2021
    March 20th Episode:

    Cyclical Sectors:
    Regional Banks
    Small Cap Equities
    Emerging Markets

    Related articles:


    Search out:

    - "Short Duration" Equities (low PE):
    - Small Cap Value
  • @bee, thank you for the timely posting of this interview. I have rotated my allocation to more value oriented funds and ETFs late last year. This interview explains the global recovery and investment opportunities you listed above.
  • beebee
    edited April 2021
    March 27th Episode:

    Bank the Banks
    Rotate away from Growth
    Rotate into Value
    Emerging Market Value
    2019 MFO Review:
  • edited March 2021
    Thank you for posting this episode.

    At the conclusion of this show, the host mentioned the next one will interviewing Matt McLennan who manages First Eagle Global fund. He will be talking about buying gold. Why now?
  • Apr 3rd Episode:

  • beebee
    edited April 2021
    April 10th Episode:
    Time in the market verses timing the market...

    Time in the market is the best way to reduce risk and insure success for the average investor, not day trading.

    Valuation of markets (stocks/bonds) matters. Earnings need to keep pace with stock price. The market often prices (values) stocks ahead of earnings. Pay attention to earnings of stocks.

    Select out of favor stocks with good fundamentals. Emerging market stock & EM bonds fit this criteria right now. Small Cap US Value stocks are a great long term investment.

    Do you have a favorite Small Cap Value Fund/ ETF?

    Vanguard has a few highly ranked SV funds:


    PV Link comparing these three funds

    Emerging Market Debt Fund:


    Emerging Market Stocks Fund:

  • Thank you for posting this interview. Market reached all time high as of last week.
  • April 23rd Episode:

  • With respect to SCV, I like CSB and AVUV. The latter I bought thanks to a great tip from MFOer @MikeW. I’m hanging with ARTYX in EM equity, despite a rough patch.
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