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

Guess which website Mr. Bob Rodriguez mentions in his latest interview?

I was reading this article which is the latest interview with Mr. Bob Rodriguez.

https://www.advisorperspectives.com/articles/2020/09/07/bob-rodriguez-we-are-in-a-rolling-depression?bt_ee=2Uw6gfTl1acmbbw28pLOfK/hMQ3GXGHwzHKGdaEm47LjEjw3gYAFD9sXSCuP2Xbb&bt_ts=1599559369233

I found this paragraph to be surprising (toward the end of the article).

My last question is one for my own curiosity. What information sources do you find most valuable for insights into
the economy or to the markets?

One of the sources of information that's rather intriguing, but you have to cut through some of it, is the website ZeroHedge.
A lot of the news that will break on the major channels shows up there first. In fact, they were talking about a potential
pandemic coming out of China back in early January. I find that one to be of interest.

He does mention YOU HAVE TO CUT THROUGH SOME OF IT.

I am not trying to stir the pot especially after what David mentioned in the post Old_Skeet Says ... Goodbye.

Mr. Rodriguez is loading up on Gold. I guess he is following the Ron Paul portfolio.

I hope that this post isn't offensive and is NOT going to generate push back/nasty discussion. Again I am not trying to stir the pot. I just found Mr. Rodriguez comment interesting.

Comments

  • no worries, ty

  • To be honest, ZH's Twitter feed was very useful for breaking news over the years, especially for context when I was trading. But I quit following it a long while ago when it became more skewed with conspiracy theories and snark than useful information that the MSM wasn't covering.

    Their site is replete with content from conspiracy theorists, gold hoarders, doomsayers, and more. The noise-to-signal ratio is, last time I looked, very very high and makes finding useful information not worth searching for.
  • I saw that and made me wonder if he is loosing his marbles. His comments about California tax policy and Nevada indicate that he seems very very conservative, if not even right wing

    He did a great job especially at FPACX but clearly now is into just preserving the millions he must have as he is buying up houses around Lake Tahoe. His comments on Gold and real assets are worth reading
  • edited September 9
    @sma3 I don't think he ever ran FPACX, but FPNIX and FPPTX. Steve Romick is FPACX's manager. Skill at money management doesn't mean logic in politics. There is a significant population of libertarian money managers who are so deluded they believe that without any government we'd have some sort of free market utopia. They credit none of America's greatness to good government, but write an alternative history in which only executives and entrepreneurs have done anything worthwhile. Good government to them in their Ayn Randian vision does only one thing--protect their specific property rights, not the property rights of say, Native Americans, or employees' property rights for their own human capital. Just wealthy investors' land and capital gains. Regarding ZeroHedge, one reason propaganda is so dangerous is that it may contain elements of truth in it that are distorted to achieve a political end. That is why to the unsuspecting it appears true.
  • Don't think he is managing funds anymore. He moved up the FPA management chain. I get the same feeling that he is preserving capital. Given the low yield bond environment it is not uncommon to hedge that with gold. Given the COVID situation many people are teleworking if feasible. In his situation he is well situated to run the business in Lake Tahoe. This may change when climate change affects and wildfire becoming more frequent at that region.

    He has always been conservative money wise. Given the Fed's monetary policy today I can understand why. Nevertheless his interview is informative.
  • He isn't managing the funds day to day, yes, and has moved up the chain.
  • The article states he retired at the end of 2016.
  • Thank you for the update. Wonder if he is still involved in the investment industry or at least on a consulting capacity? Lot of people from Silicon Valley moved to Lake Tahoe since long term remote working is possible. Housing is more reasonable relative to Bay Area.
  • He is what is called a "Partner Emeritus": https://fpa.com/about-us/team
  • He does not pay state personal income taxes. From the article:

    ...You've talked about the fact that you've live in Lake Tahoe, Nevada. As a state that has no personal income taxes, a majority of the state's revenue is derived from tourism and special taxes on gambling. You've also talked about the positive outlook for real estate there. But, with those two sources of revenue severely curtailed by the pandemic, how do you see the future for Nevada?

    This article indicates he has retired from fund management since 2009 but still manages his own money.

    https://citywireusa.com/professional-buyer/news/value-legend-bob-rodriguez-if-you-own-equities-right-now-i-d-be-selling/a1363228
  • +1 Lewis Braham Very succinct and accurate summary of the libertarian mindset. Apparently, their utopia would be Somalia or Afghanistan, where they would be completely free from any functioning government !
  • carew388 said:

    +1 Lewis Braham Very succinct and accurate summary of the libertarian mindset. Apparently, their utopia would be Somalia or Afghanistan, where they would be completely free from any functioning government !

    Truth. Good way to put it.
  • edited September 10

    @sma3 ... Skill at money management doesn't mean logic in politics. There is a significant population of libertarian money managers who are so deluded they believe that without any government we'd have some sort of free market utopia. They credit none of America's greatness to good government, but write an alternative history in which only executives and entrepreneurs have done anything worthwhile. Good government to them in their Ayn Randian vision does only one thing--protect their specific property rights, not the property rights of say, Native Americans, or employees' property rights for their own human capital. Just wealthy investors' land and capital gains. Regarding ZeroHedge, one reason propaganda is so dangerous is that it may contain elements of truth in it that are distorted to achieve a political end. That is why to the unsuspecting it appears true.


    what LB said

    20-plus years ago one of my kids was taking AP US history at the local superduper high-powered suburban high school, and spent a week intensively studying 1870s railroad legislation, plus the congressional debates etc.
    At the time this former HS teacher thought Man, that is way too granular and way too deep in the grass.
    Of course what the teacher knew and I realized only later was that it was a focus on the American social pact in the high time of rugged individualism hokum and also an object lesson to a bunch of privileged majority kids some of whom (like my son) were reading Rand in their spare time. (Including her wacky take on railroads in Atlas.) 'You didn't build that [alone]', etc.
  • I was enraptured with Atlas Shrugged for about 48 hours in college, until I saw what rugged individualism did to the poor.

    Texas did not require Diphtheria vaccinations for school in 1970. Most of the poor Hispanics ( they were "Mexicans" then) couldn't afford to go to a private MD anyway (although if it were required for school the health department would have set up clinics).

    The last US Diphtheria epidemic was, of course, in San Antonio in 1970. 200 people infected three deaths and widespread panic.

    Vaccination soon required. On a side note, Ex-Governor Perry tried to mandate vaccinations for Cervical Cancer ( which is a personal tragedy but far less of a public health hazard than Diphtheria or Covid) when one of his major donors with massive Merk stock pushed him to do so

    http://www.nbcnews.com/id/16948093/ns/health-childrens_health/t/texas-governor-orders-std-vaccine-all-girls/#.X1uZ5HlKhPY

    The lesson to learn is that most ideological positions with any economic implications, are just economics.
  • A bit to @LewisBrahm's point (and, politics aside): look at the bizarre personal (and, personnel) decisions Bruce Berkowitz made during the FAIRX heyday. Always the case that sticks in my mind of talent in money management not translating into strong decision making elsewhere.
Sign In or Register to comment.