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a reminder: we're talking with Zac Wydra of Beck, Mack & Oliver tonight, 7:00 - 8:00 Eastern
If you'd like to join in, you're certainly welcome. Just click this registration link to get a PIN. Looks like there are 50ish folks registered, fewer than half of whom I recognized.
If you're interested in Beck, Mack's approach but can't join in, share your questions, concerns or comments on this thread and I'll pass them along during tonight's call.
These folks have beaten the S&P fairly consistently, especially over longer periods. They appear shareholder friendly with good explanation of strategy and decent ER. No load. No 12b-1. But it does look like they are kicking-back for NTF at Schwab.
I like your comparison to D&C in the MFO profile. BMPEX seems a bit more conservative (or at least better stock pickers), which helped during the 2008 collapse.
They seem to manage risk mostly within the context of equity market, not all allocation or all authority. So, you can expect market-like losses (or gains) as the tide rolls in and out.
As I look at their returns, they marched to the index in the first 10 years (1993-2003), but then came into their own. Took the hit in 2008. But have come on strong the past 3 years.
So, questions:
1. How has their strategy evolved through the years? In particular, after the tech bubble and then after the more recent financial bubble.
2. How do they feel about equity evaluation lately? Reading their reports, I suspect they think markets are over-heated...at least in US.
Here are the risk/return numbers across four different intervals, comparing against some other notables, sorted by absolute return:
Since 1993 (about 20 years)...
Since 2003 (about 10 years)...
Since 2008 (last 5 years)...
Since 2010 (last 3 years)...
Will be calling in from El Capitan State Beach...a little piece of heaven.
Comments
Regards,
Ted
M* Snapshot: http://quotes.morningstar.com/fund/f?t=BMPEX®ion=USA&culture=en-US
Lipper Snapshot: http://www.marketwatch.com/investing/fund/bmpex
Beck, Mack & Oliver Website: http://www.beckmack.com/USStrategy.aspx
These folks have beaten the S&P fairly consistently, especially over longer periods. They appear shareholder friendly with good explanation of strategy and decent ER. No load. No 12b-1. But it does look like they are kicking-back for NTF at Schwab.
I like your comparison to D&C in the MFO profile. BMPEX seems a bit more conservative (or at least better stock pickers), which helped during the 2008 collapse.
They seem to manage risk mostly within the context of equity market, not all allocation or all authority. So, you can expect market-like losses (or gains) as the tide rolls in and out.
As I look at their returns, they marched to the index in the first 10 years (1993-2003), but then came into their own. Took the hit in 2008. But have come on strong the past 3 years.
So, questions:
1. How has their strategy evolved through the years? In particular, after the tech bubble and then after the more recent financial bubble.
2. How do they feel about equity evaluation lately? Reading their reports, I suspect they think markets are over-heated...at least in US.
Here are the risk/return numbers across four different intervals, comparing against some other notables, sorted by absolute return:
Since 1993 (about 20 years)...
Since 2003 (about 10 years)...
Since 2008 (last 5 years)...
Since 2010 (last 3 years)...
Will be calling in from El Capitan State Beach...a little piece of heaven.