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Selling a few shares of an energy fund in taxable.
I've had a nice profit there, and don't want to lose all of it should the dollar strengthen as a result of the Fed decisions. Also want to use the proceeds to better diversify there and take advan…
Investors' points are well-taken however. Commodities are the "asset class du jour", ergo you can't put it beyond financial firms to throw together something that sounds really cool, but is really an overpriced version of a more basic product. The…
You may be right. As Soros (I believe it was) said "...this is the market, you have no friends in the market...". Icahn said something similar.
With that in mind, I was aware of the large difference in E/R for Highbridge versus, say, PIMCO's prod…
Should have also noted that in the taxable portion of my portfolio, I've put in stop-losses on my equity holdings at about 15% gain level (taking dividends into account).
Others here are much more skilled than I am in terms of tracking and reading momentum, and even market timing. What I'm learning in this market along the lines of your question is:
(1) I probably shouldn't buy anything that doesn't have a substa…
If both of the PIMCO products are largely oriented toward tracking indices, they probably should not be directly compared to HDCCX.
HDCCX is not primarily an indexed product; it is genuinely actively managed. It can (and does) use substantial le…
More negative press for Berkowitz.
Wonder if the outflows are a result of: (a) l'affair de St. Joe; (b) concerns that FAIRX is simply getting too big; (c) general movement out of stocks.
For the past year or so, when evaluate a fund, I look at a history of fund closings. The number of such managers if few and far between.
Micro cap funds close because they have to. I own one, and will be purchasing another.
Your other points/co…
Asset bloat has to also be considered in the context of the fact that Berkowitz has opened a new stock-oriented fund which will allow it to pursue opportunities (smaller cap stocks) that FAIRX no longer can.
I suppose, Bruce, you could have just cl…
BobC, thanks again for your input.
Ivy Asset is on the table. Its a fund I've looked at for some time, in fact, lbeit in different roles for my own portfolios.
I'm thinking my wife's portfolio (which consists mostly of "mad money" -- in spite of …
BobC -- my wife is very risk adverse; she doesn't care if she hits a homerun with this investment (and does not want to take on the risk that might be associated with putting that kind of numbers on the board); she just wants to make a decent return…
Actually, nothing. Just want to make sure I cover all my bases.
Will probably end up going with MCLOX.
The reason for going with an all-in-one product is that: (a) it'll be easier to DCA into the portfolio; (b) ostensibly there is a professional …
Thanks.
No, was not aware of the 3rd Ave situation.
Yes, was aware of Lowenstein's comments (the general tenor of his comments); but I think TROW does pretty well all in all. So does Oakmark.
My ideal fund company is described above.
If we see a…
IMHO, Royce is the poster child for the downside of a shop being snapped up by a publically traded firm.
On the flip side, note that AMG has sizeable owndership of Tweedy Browne and Third Avenue, and both of those shops don't appear to have been co…
I've wondered the exact same thing. I note the hedging issue, above. I also wonder if its a result of their "deep dive" research process (but, TB also admits to using outside research on occasion). Their funds (except for TBHDX) are genuinely all…
I don't know that OAKIX isn't hedged -- they just selectively hedge. The older Tweedy Browne is entirely hedged. (Don't ask me why the hedged and unhedged versions have the same E/R's, however).
Just bought small portion 20 minutes ago. Its more speculative than what I thought, so I'll re-think my risk tolerance and maybe balance it with PIMCO or something else.
Scott, BobC, others:
Just had a chat with JPMorgan funds today re: this product. JPM describes it as a "trading strategy" fund, not an index-linked product. It has the latitude to adjust the portfolio daily, weekly, monthly, as necessary. It is …
So Scott, if you don't mind my asking, how exactly is your retirement portfolio structured. Are you more than 10% invested in alternatives, and how did you decide on that particular allocation.
BobC -- thanks for the comments. I'd consider ETFs by the size of my portfolio makes them less than ideal due to the transaction costs. With a mutual fund its very easy to dollar cost average in (and out). The extra expenses I'd pay going with, s…
Oh, I'm not looking at a commodities position as a cure to all ills. I only want something as a hedge, and as a bit of a speculative play. In taxable I'm holding FESGX (First Eagle Global), IVWCX (IVA Worldwide), and a bunch of large-cap dividend …
I know Dodge and Cox hasn't always gotten the most love over on FundAlarm, but I was actually looking at some numbers over the weekend, and Dodge & Cox Income (DODIX) actually does pretty well from an upside/downside capture perspective, using M…
Hey, Scott thanks.
I guess what I should have asked (and am looking for in part), is what is the difference between going a derivatives route vs. a managed futures route (aren't futures also derivative contracts)?
Cheers -- and thanks again.
Thanks, Bob.
How would a managed futures approach differ from the derivatives approach PIMCO and HDCCX use?
You note that HDCCX also has the ability to short and in the HDCCX case, it can do so quite substantially (and uses this tool quite frequ…
I like D&C, and I use DODFX, DODIX. But my issue with D&C is that for a "value investor" they don't really have a cash-based risk management strategy. That, and the fact that they're huge (which is why their fees are low).
Berkowitz used to pride himself on keeping a low profile (used to turn down interviews). Not so any more. Seems he's in a newspaper or magazine about 1x a month. Suppose it could be because he has had two new product launches.
I'm cooling on t…
