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Favorite go-anywhere US stock fund?

edited August 2011 in Fund Discussions
I am looking for a few options for a go-anywhere stock fund, primarily US stocks (global is OK) and preferably focused (on the theory that I am paying for a manager's best ideas). I have a long-term outlook and I don't mind volatile, "aggressive" approaches as long as there is a method to the madness. Low expenses are important, but not too worried about tax efficiency.

What do folks think about Ariel Focus (ARFFX) and Marathon Value (MVPFX), both mentioned in this month's commentary? Any other suggestions in this space?

For comparison, I currently have holdings in CGM Focus (CGMFX), Fairholme (FAIRX), and Bridgeway (BRAIX). Believe it or not (probably not!), I am not performance chasing -- I have been in all three funds for a long time and continue to put money in as these funds "battle for last place" as one article puts it. But I am changing brokerages with a different transaction fee structure, so I am using this opportunity to look at what else might be available.

Thanks in advance!


  • Check out the Appleseed Fund (APPLX). It's the only go-anywhere U.S. fund I own and it's been doing relatively well in this market. I owned FAIRX for quite a while, but I sold it and took all my profits a few months ago when I felt he was getting distracted with a board battle and potential proxy fight with St. Joe Co.
  • Thanks for this suggestion. I decided that I'll use APPLX to eventually replace BRAIX. They seem similar in their multi-cap coverage and smaller asset base. APPLX is also "socially responsible" -- I don't have a personal view on that, just thought it was an interesting coincidence since Bridgeway (the company if not the fund) also has a "social responsibility" bent.

    APPLX expenses are a little high, but they are NTF through my new brokerage so that helps a little. I put some new money into APPLX on Thursday's dip. Will monitor BRAIX going forward to find a good transition point.

    I added more to FAIRX and CGMFX even though it hurts. My goal with these funds was that they have relatively low correlation with each other. But of course they can still both be wrong -- like this year.
  • No suggestion but "go-anywhere US stock fund" did make me smile.
  • I'll also throw in PRBLX (Parnassus Equity Income). CGMFX is interesting at this point, as Heebner certainly has the ability and willingness to change, but it has been a matter of mistiming moves into and out of sectors over the last 2-3 years. If it was NTF (especially if it was NTF) and Heebner used the fund's ability to short a little bit at times it would be high on my list.

  • Don't overlook OSTFX (Osterweis Fund), DGAIX (DGHM All-Cap Value). Both have management teams with strong histories and very consistent, conservative philosophies working with private/family dollars. We use both of these.
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