Hi guys,
Hope all is well with all of you. After all, that's what's important...really. This money thing is just a hobby or a pastime really. I have been doing a lot of hand sitting mostly. Have added some to PONAX. But that's about it. I am waiting....I think we go lower. A retest, I think, is mandatory. With earnings coming soon, it should provide the fuel for it. Also have a list of sells on the other side. You don't know until times like this who's good or is talking good. The portfolio will be quite smaller, I think. Also, I don't know if anybody watches the half time report on CNBC from 12 to 1. I eat lunch then and I highly recommend it. And watch it for a week...give it a chance, please. On our walks the Dukester and I take, we talk a lot and both think that tech and healthcare might not be that cheap because everybody loves them now. I also think the comeback of the economy is going to take longer. Think vaccine.......that's when all's well. Saying that, I think we have time to buy. Bear markets are about 10 times or less. Are we there yet? Who knows? I'm not ready to be a pig just yet. Also think div'y cuts buy back stoppage and 401 cuts by people. So I think the comeback will be hard. Just because you have money doesn't mean others have it or will spend it in the market at this juncture. Also, only so many sectors are investable. Some are untouchable, so beware. I have one question: what is the Omaha Guy doing? No news. Why? Too early, maybe? Just saying....
God bless
the Pudd
Comments
I expanded my domestic equity income fund sleeve from four to six funds. The funds held in this sleeve are ANCFX, FDSAX, IDIVX, INUTX, LCEAX & SVAAX. In my global equity income sleeve I still own four funds and added to a couple of them. The funds held in this sleeve are CWGIX, DEQAX, DWGAX & EADIX. In addition, I added to a couple of equity funds found in the growth area of my portfolio. They were AMCPX, FKASX & KAUAX. In doing the above I raised my equity allocation to 45% from 40% and reduced cash by a like amount.
Now that I have pretty much a full asset allocation to equities I have now begun to buy on the fixed income side of my portfolio with income that the portfolio generates. Thus far in April I have added to FRINX & FLAAX. Other funds that I plan to add to are BLADX & JGIAX.
My current asset allocation is 15% cash, 40% income and 45% equity. From here, I plan to rebalance + (or -) 2% from these neutral weightings unless market conditions warrant otherwise.
Take care ... stay safe ... and, I wish all ... "Good Investing."
Old_Skeet
Portfolio Down >25s% past few months. Hope we dont have double dip and recovery maybe 6-12 wks away if we do get this thing contained
Also added vgstx vanguard star today
I would hold on the selling. Did you look at Charles' piece in April? If you did, please view it. I also own losers....it's a bear market. Pour yourself a big stiff one and relax. If you don't need the money......chill. This s*** happens every so often.
Skeeter,
You've been a busy guy! This longneck is for you, big guy! The Dukester is proud of you. It ain't easy to be bold.
Hi John,
80 - 20 - awesome bro'! So, how old are you again? Star's good. Used to own it years ago.
God bless
the Pudd
Hope all is well and you got your checks.
Old news: did some buying last week. Opened positions in FSCSX and CTFAX. I think Skeeter talked about that one. Thanks! I like it.
New news: also this week sold FRIFX and MLPFX. Both small positions, but had losses in both.
Am waiting for some type of pullback. Would like to open a position in ECOLX. Would appreciate any thoughts on the fund from the Board.
Also my last post of Buy - Sell - Ponder will be in May. I'm hoping someone on the Board will take over.
God bless
the Pudd
First, as a fellow poster, let me express my thanks, to you, for being the host of Buy, Sell & Ponder for the past couple of years. It is indeed appreciated. Hopefully, someone will step forward and continue to host the thread. I did it for a couple of years after Scott left and with me doing the barometer ... Well, I'm thinking ... I'll leave this opportunity open for another. I'm thinking @FD1000 would make a good host. He needs a spot on the board he can call home. I'm sure there are others that might express an interest to you, and possibly David as well, to continue to carry the tourch.
Nexted up, in review of ECOLX. It seems to be a good growth fund carrying 5* from M*. However, Old_Skeet already has a full house within the growth area of his portfolio so it is not a fund that I would be putting money into. However, there may be others on the board that are looking for a good growth fund. Hard to knock it's record. Seems to be small and nimble as well.
On CTFAX, I've owned this fund well back into the early 2000's. For me it has been a long term keeper. Please know, I don't think that one should own it for a standalone. It's strategy keys off of market volatility.
Boy ... I'm sure going to miss Duke's input as well. He is one clever being.
Cheers ... This longneck is for you and the Dukster.
Skeet
At the moment I'm treading very cautiously and erring on the side of capital preservation instead of opportunism like I was back in Feb. My 50-50 crystal ball suggests that we're close to another retracement ... and seeing that my market-timing price action analysis in recent weeks has been pretty spot-on in my trading account, I'm inclined to believe it again.
Rolled my May 75 covered calls on D into Jun 80 calls for a small profit .... the Jun calls seemed rather richly valued. I own D around $75 so there's nice profit potential on the upside and decent cushioning on the downside.
Added to FSCSX, ROGSX, and TGJNX on Tuesday. Will buy on weakness. Up 6% on CTFAX. Good job, Skeeter! It's paired with VWINX.
......long term just be cool your core.
These guys are looking more and more like my bond funds. As you know, I'm not a bond-y guy.
The Dukester and I walk daily.....common knowledge.....lol. He says, and I quote, "When earnings look good, Pudd, you're late to the party." Also, healthcare is not cheap and tech is the future. It's what you saw now like plastics and IBM.....it's now. Think Mrs. Robinson.....yes.......I remember when.
Again, the Brown one says no inflation so look for best of breed.
God bless
the Pudd
I run a Xray on my portfolio, each sleeve within the portfolio, and each fund quarterly,
Skeet
I've also been selling off bond funds over the past month, starting with the infamous IOFAX. As I sell I've been putting some of that money into MFS Managed Wealth Fund, MNWAX, BRK/B and cash.
Yeah, I did the same thing a while back. Sold all bond funds, but PONAX I'm still disappointed in.....still down 5%. It also may go.
My thinking is this: going to let my AA funds do bonds....only good stuff, though. They are BTBFX, VWINX, CTFAX. Just don't see much of a future in them bonds.
God bless
the Pudd
You're probably both correct about some bonds, at some point in the future.
Until that point:
Below, week ending April 24 with YTD only:
These below are AAA credit, except Other.
--- MINT = - .57%
--- SHY = + 2.8%
--- IEI = + 6.5%
--- IEF = +11.2%
--- TLT = +26.7%
--- EDV = +36%
--- ZROZ = +39.8%
***Other:
--- HYG = -9.7% (high yield bonds, proxy ETF)
--- LQD = +2.3% (corp. bonds, various quality)
--- LTPZ = +19.6% (UST, long duration TIPs bonds
The future is much like the past......very point specific.....no. We all can cherry pick.
What of this do you own? This is not a fight I want or am picking.....my respect for you is great. Bro', my point is...you win now, but are you the richer for it? To me, for now at least, cash is king. This is but a scene in the play.....if the story of life, i.e., Fed induced, and it will fade.
God bless
the Pudd
No, not a point of a contention, no contest; just a viewpoint. Many paths forward, eh? This is easy enough to see/read here, about all the pathways. Not unlike all of us here having to meet in Kansas City, from where we live........many different roads.
Our portfolio is 72% bond and 28% healthcare.
The bond portion is 44% in BAGIX and 28% in ZROZ.
Small overview of BAGIX credit quality holdings.
AAA 59.70%
AA 3.10%
A 17.00%
BBB 19.60%
BB 0.60%
B 0.00%
Below B 0.00%
Not Rated 0.00%
As for ZROZ. One needs to pay attention, as it can move like an equity on a hot skillet.
The simple goal (easier said than done some days) is too keep as much of the profit as able before a shift in trend, be it equity or bond.
Take care,
Catch
Investing is a tough business.
Thomas Edison once observed that “I have not failed. I have just found ten thousand ways that do not work.”
I suspect that I have at least equaled that dubious record. But I’ll keep trying. I’m a slow learner with high hopes.
Best Wishes