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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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the December MFO is live

David_Snowball
in Fund Discussions
Though modestly abridged.

Thanks to all for their discussion in November of the GMO and T. Rowe Price funds. I thought about them a lot and tried to channel some of the collective wisdom into our Launch Alerts.

Devesh had a good conversation with Mr. Cirami. Increasingly my question is how to manage the weighting of diversifying funds like Artisan EMD Opportunities. The case for it being a powerful diversifier is clear, and Mr. Cirami highlights the correlation data. The challenge is knowing when to increase or decrease exposure to it to maximize that gain. Might make a case for an auto-rebalancing service?

Lynn's work seems to align with that. His question isn't "will global bonds improve my portfolio performance" (he's pretty comfortable that they will), it's more "is it time?"

Thanks for your good wishes and good insights. And cheers!

Comments

  • yogibearbullyogibearbull
    I wonder if MFO Charts can be make linkable (preferably .png, but .pdf OK too). While it is a Premium feature, I can:
    1. Download .png
    2. Upload to ImgBB
    3. Use MFO Image-tool to put it here, see sample below.

    But why not make them simply linkable? Posters may customize charts and then link to those - nobody can further manipulate those.
    @Charles, @David_Snowball

    image
  • RandiVooDoo
    @Charles
    Thanks for posting that frightening chart of IOFIX price and flow data. Are fund flows predictive or a retrospect tool?
  • David_Snowball
    YBB: Working on it.

    The challenge is that we're reliant on two customized sets of software (WordPress and Vanilla Board), both are outdated versions and we haven't had a programmer with a sufficient skill sets to manage the upgrade. (We have been warned, repeatedly, that the WordPress upgrade will take down the site so that we have to have a duplicate site running offline on a separate server, to which we apply the update and the subsequent tourniquets.)

    Chip's department recently hired a programmer who thinks he might be able to manage it. We're in negotiations now.
  • Old_JoeOld_Joe
    I just love the continuous deprecation of existing technology and the skillsets needed to service and maintain that technology. Even my familiarity with vacuum-tube circuitry is becoming unneeded.
  • CharlesCharles
    @RandiVooDoo. Thanks. Several of us suffered on that one.

    I'd say in March 2020, both price and flow happened simultaneously. A perfect storm really.

    And I think Garrison Point, which I like, regrouped and recovered well.

    But in February 2022, as soon as price rolled again, even a very small amount, there was a massive exit and outflows just continued.

    One of the things I've learned is that when a fund does not behave the way investors expect it to, they exit ... FAIRX, AQRIX, WBMIX, IOFIX, ZEOIX, TILDX to name a few.
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