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.
Holding steady on PONDX and RPHYX in bonds, and SFGIX, WAFMX, MFLDX, GASFX and ACMVX in equities. Sold PETDX, and reduced exposure in remainder of American Funds and American Century funds. Will start averaging back in when I get a feel for what's happening.
Bought PDI --- Pimco Dynamic Income Fund, the CEF version of PIMCO's PIMIX, both managed by Daniel Ivascyn, a superb bond portfolio manager. PDI was trading at an unusual discount to its NAV, something quite rare for nearly all PIMCO CEF's, and this was an excellent entry point. Ivascyn knows how to hedge and negotiate the various nuances of interest rates, etc. , so much so that I am not averse to adding to my bond position regardless of potential Fed actions.
I have recently reduced my bond exposure and in doing this sold out my positions in NEFRX, LIGRX & TPINX within my fixed income sleve. This leaves me with LALDX, THIFX, ITAAX, NEFZX & LBNDX. I plan to watch fixed income over the next few weeks, or so, and I most likely will open a position in TSIAX should bonds level out or perhaps cut more should they continue to decline.
Within equities I am holding steady with my positions as I fell I have already right sized this area through a sysematic sale process as they advanced this year. Should the S&P 500 Index continue pulling back ... I might add through rounding out some current positions but plan no major purchases. The landscape going forward for 2013 has a lot of uncertainty as corporate revenues are flat even though corporate earnings have improved through companies right sizing to produce same. In the long run though if revenue remains flat then companies are not growing. And, that is not good.
I wish all ... Good Investing. Skeeter
In addition, I have some comments deeper in this thread.
Reply to @Charles: AQRIX weakness may also be due to decline in commodities -- their exposure to commodities is greater than that for traditional balanced funds.
Reply to @Mark: I own triple net REIT WP Carey (WPC), but like and have looked at/considering O and Chambers Street Properties (CSG). May add to KMI as well.
Sold some bond funds, and even sold off my VWINX in the last few weeks. I don't like the idea that our artificially inflated markets could potentially lose their Fed backing (or just the market PERCEPTION that they might).
It could get U-G-L-Y in a hurry, and this party has already gone on for quite some time.
And now that I've written that, the market will probably resume its mechanical ascent.
Reply to @scott:Was unfamiliar with Chambers but my curiousity got me here. http://nreionline.com/ Looks like a good idea source.Have WSR high on my watch list.Locations in high growth areas but remains pricey.
PS. I am familiar with Chambers Street Wine.Good selection and service for us Midwestern unsophisticates! http://www.chambersstwines.com/
Sold 1/2 my PGDIX last week and 1/2 my PIMIX today. Both now at 5%. Put the money in VMRXX for now. Holding equities at around 38-40%.
I'm kind of surprised some people are buying anything right now. I think we just started this correction with more to come. But I could be all wrong - again ...but I do believe there is greater potential for down than up for a while. Risk / reward just doesn't feel good right now.
I am in concert with you as I am of the camp there is currently more potential for down side in both fixed and equities than upside. With this, I am cash heavy with my recent reduction in my income area. I compute, I am now about 20% cash, 30% income, 40% equity and 10% other. I am not saying what I am doing is the gospel for all to follow. It is simply what I am doing.
It is interesting that Mike Holland has positioned his four star rated balanced fund HOLBX with no fixed income ... just equities and cash. Year-to-date the fund is up 12.12% and scores in the top five percent of its category for the past thirty days, top 25%, or better, for its one, three and five year periods. I have provided a link for those that would like to view it's Morningstar report. So indeed, one can have good results by holding a good amount of cash from time-to-time along with making good stock selections.
I have provided a link below to the fund's web site for those that might be interested in learning more about the fund and its ability to posiition in an often changing investment climate.
I usually have very little to no cash in investable assets, but sold roughly equal amounts of core bond, credit-risk bond, and stock to get to 20% cash this week ... then in a moment of sheer insanity, bought a little VPACX yesterday for a 'safer' play on a Nikkei bottom, minus the currency short. I better consider that truly play money.
The S&P 500 bounced off the 50dma to move higher today, a (temporary?) decent sign at least.
Bought some PAAS (love that volatility) to bring my precious metals back up to 5.4% of retirement assets.Mr. Market had trimmed it from 6.8% on Dec 31! With an additional 22 % in non-USA assets ,the year's returns have been somewhat subdued.But core and small cap holdings all within 2 % of all time highs.About 32.4% cash.Looking @ AEM in gold sector,set up AIP in TGLDX (dollar cost average after plunge),still set to purchase Scott's INF as things trend down.Looked @ the above mentioned PDI.Too much leverage for me.Watching Phillippine and Indonesian ETF's on further deterioration.Also considering redeploying funds from MAPIX and MAPTX into MCSMX and MEASX.Have always thought small caps and Acorn Funds proverbial "four baggers"are the key to long term investing success.
Reply to @Skeeter: Interestingly, the turnover of HOLBX is 0%, so the manager just does not do anything at all except for collecting money, invests in giant stocks and cash, and it is below average moderate allocation fund.
On dip, looking to buy Ford, Home Depot, IBM and will add to SMGIX, MMM. Recently added to UTX, PKW (now my largeset and fav etf).
Recently sold ABV- Scott, would be interested in WHAT YOU SEE, perhaps Im missing something, its very volatile and could not figure out why it didn't move much even as consumer stocks soared. I also hit my stop loss on half of UNP, protected substantial profit, will rebuy if it goes back down. Sure glad I sold AEP before that flashcrash where it sold for half its value. Sold it three days before with substantial gain.
Reply to @flume: I did laugh @ the article's lead in,and it should have included our own politicians. But then I saw who authored the article and immediately became skeptical.Paul Farrell is himself not one to put your trust in .He should be included in the Main Stream Media category he decrys as he trys his best to proclaim himself as an outsider.Without the platform @MarketWatch his voice would probably be included on a "the world is ending" web site which has been his basic premise for some time now.Eventually his alarm may be fulfilled, but plug his ongoing thesis into a Monte Carlo calculation and it may be about equal to San Francisco or his home in San Luis Obispo, Ca falling into the Pacific Ocean.
Reply to @scott: I've considered Carey but haven't made any moves yet. I bought O initially during the 2007-8 downdraft and have been extremely pleased (and rewarded). Do you follow Brad Thomas on Seeking Alpha? The man is most excellent with his coverage of REITS.
Reply to @flume: Farrell has had the same doom&gloom prediction for many years. I think his articles are useless, if not detrimental to investors. There is no indication of a bubble in stocks right now. There may be in the future, but that's just part of an economic cycle. So I guess he can predict doom and gloom for 8 years, and when it inevitably gets here he can say I told you so. (can you tell I don't like the guy )
still 80/20 in 401K distributions. bought little alcoa bond - mature 2037 recently, 6.2% YTM is hard to beat [@ zions direct bonddesk]. Alcoa is a diverse company and I don't think they'll go under. don't know what to buy next but reading this thread gives me lots of ideas to explore
Reply to @InformalEconomist: I am interested in PAFGX also, if only because my 401k is a TRP account and I like them as a mutual fund company. I first wanted to say the M* thread you posted was just amateur opinions and don't carry much weight. But a couple good points were brought up. For example, I new Shriver manages other TRP funds and has had good success, but I didn't know he managed 7 funds. Even though TRP works well as a team, that is spreading yourself pretty thin. And TRP is rather mediocre in the international field.
I may still take a foot hold some time down the road, but thanks for stirring my thoughts.
Comments
Continue to ride DODGX mimicking Flack's recommendation while SP500 remains above 10-mo SMA.
Still think economy will continue to improve and market along with it.
More concerned with bonds lately, but probably cause not used to seeing BOND retract.
AQRIX getting hammered lately as well. A sign of weakness in world bond market, I think.
I have recently reduced my bond exposure and in doing this sold out my positions in NEFRX, LIGRX & TPINX within my fixed income sleve. This leaves me with LALDX, THIFX, ITAAX, NEFZX & LBNDX. I plan to watch fixed income over the next few weeks, or so, and I most likely will open a position in TSIAX should bonds level out or perhaps cut more should they continue to decline.
Within equities I am holding steady with my positions as I fell I have already right sized this area through a sysematic sale process as they advanced this year. Should the S&P 500 Index continue pulling back ... I might add through rounding out some current positions but plan no major purchases. The landscape going forward for 2013 has a lot of uncertainty as corporate revenues are flat even though corporate earnings have improved through companies right sizing to produce same. In the long run though if revenue remains flat then companies are not growing. And, that is not good.
I wish all ... Good Investing.
Skeeter
In addition, I have some comments deeper in this thread.
BWG
It could get U-G-L-Y in a hurry, and this party has already gone on for quite some time.
And now that I've written that, the market will probably resume its mechanical ascent.
http://nreionline.com/
Looks like a good idea source.Have WSR high on my watch list.Locations in high growth areas but remains pricey.
PS. I am familiar with Chambers Street Wine.Good selection and service for us Midwestern unsophisticates! http://www.chambersstwines.com/
I'm kind of surprised some people are buying anything right now. I think we just started this correction with more to come. But I could be all wrong - again
I am in concert with you as I am of the camp there is currently more potential for down side in both fixed and equities than upside. With this, I am cash heavy with my recent reduction in my income area. I compute, I am now about 20% cash, 30% income, 40% equity and 10% other. I am not saying what I am doing is the gospel for all to follow. It is simply what I am doing.
It is interesting that Mike Holland has positioned his four star rated balanced fund HOLBX with no fixed income ... just equities and cash. Year-to-date the fund is up 12.12% and scores in the top five percent of its category for the past thirty days, top 25%, or better, for its one, three and five year periods. I have provided a link for those that would like to view it's Morningstar report. So indeed, one can have good results by holding a good amount of cash from time-to-time along with making good stock selections.
http://quotes.morningstar.com/fund/f?t=HOLBX®ion=USA
Skeeter
Additional comment (06/09/2013):
I have provided a link below to the fund's web site for those that might be interested in learning more about the fund and its ability to posiition in an often changing investment climate.
http://www.thehollandfund.com/
The S&P 500 bounced off the 50dma to move higher today, a (temporary?) decent sign at least.
Recently sold ABV- Scott, would be interested in WHAT YOU SEE, perhaps Im missing something, its very volatile and could not figure out why it didn't move much even as consumer stocks soared. I also hit my stop loss on half of UNP, protected substantial profit, will rebuy if it goes back down. Sure glad I sold AEP before that flashcrash where it sold for half its value. Sold it three days before with substantial gain.
sing the same tune! Nice list of notable people!
http://www.theburningplatform.com/?p=55447
flume
May I ask, what leads you to ponder T. Rowe Price's new global asset allocation fund? Some skepticism about TRP's credibility in this area is expressed on this M* thread:
socialize.morningstar.com/NewSocialize/forums/p/322814/3401260.aspx#3401260
Thanks.
bought little alcoa bond - mature 2037 recently, 6.2% YTM is hard to beat [@ zions direct bonddesk]. Alcoa is a diverse company and I don't think they'll go under.
don't know what to buy next but reading this thread gives me lots of ideas to explore
I may still take a foot hold some time down the road, but thanks for stirring my thoughts.
Feels like a bottom.
I wonder if he has this with managed accounts.