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.
I've been rotating out of stocks and into flex bond funds of all stripes.
I tend to think that come fall, there will be no safe places to hide, save maybe gold. IIRC, gold is one of those investments which is particularly prone to "works until it …
I really like The Atlantic. Great collection of content, and generally less partisan than most other publications. I re-subscribed during the quarantine(s) and really like their online edition.
Their COVID coverage is broad (vaccines, school open…
@rono -- if I "wear" the mask but it doesn't cover my nose or I wear it around my neck like a scarf, am I being a complete & selfish idiot who shows no understanding of the magnitude and potential of this crisis, and a lack of awareness of the i…
@rfono -- there was a writeup in one of the financial / investing journals about D&C following the 2008 calamity. D&C allegedly improved their process by bringing fixed income committee members / insights in on stock committee selection pro…
Two thoughts:
1. Another D&C fund -- so soon? Are they under new management, or is this really in the best interest of shareholders?
2. If D&C were to add another fund, I kind of think they should add a Global Balanced Fund (Global Stoc…
Not that I'm terribly left of center or anything, but this aligns with the reasons why I thought following the 2008 bailout the US Taxpayers should get a rent / mortgage holiday, at the banks expense.
Interesting turn of events. At least de Vaulx is still there. IIRC, he was next in line to take over for Eveillard at First Eagle. de Vaulx & de Lardemelle were like peas and carrots for a long time; wonder what the story is here.
China does a great job stealing our military technology (see j-31). I'm sure they could steal our other technologies just as well.
Moreover, China has the patience to play the long game; something the US or US companies struggle to do.
I can't speak to whether they act as a true fiduciary or not; but I think TROW is well above average, even if they are publically traded.
I think Vanguard, D&C, possibly Tweedy, FPA, IVA, and FMI are at the high end of the fiduciary scale. TRO…
@rono -- interesting perspective. I think we are continuing to screw the pooch on this, and am 30/70 on us having a vaccine by Dec 31. If one exists by then, it could well be from outside the US. I think it's going to be uglier here at home than o…
Market down a good 4% at noon on Wednesday on news of more outbreaks. Extraordinary Popular Delusion #2,368: just because I wish it to be so doesn't make it necessarily so.
If you don't trust the people, why hire them and then repeatedly keep them around in the first place?
I think What Jeff needs to keep in mind are the enormous childcare burdens some families face, and the role that education plays as day care in th…
As part of not letting Netflix takeover my life, I have just finished The Underground Railroad and The Nickle Boys, by Colson Whitehead. Both have given me a new appreciation of the varied, ugly forms of racism and oppression blacks have had to end…
@LewisBraham: not for nothing, but when the COVID recession hit, I think banks should have "paid America back", by being forced to endure a mortgage holiday.
To your larger point, with which I largely agree, the broader issue we have is a cultur…
@FD100: my wife is actually in PRWCX, so I read Giroux's letters (I like his contrarian, market-sceptic, value-tilt; for sure he's no market-indexer).
I'm pleased that when Marks' sees ambiguity he labels it as such. Oakmark / Harris have done …
@MikeM: I like Marks' letters. In general I like a healthy dose of skepticism and common sense, and Marks brings that. Also like the letters from Buffett, Romick, and Horizon Kinetics. I'm thinking of subscribing to Grant's.
@FD1000: I fail to see how one could read that memo and not take away his recommendation to rotate out of safe havens and start playing offense; that this is in fact a good time to buy, and that one should not be too hung up on buying at the exact …
@davidrmoran: if you are lazy, then I must surely be irredemiable. In any event, I do not have the time to pull those numbers either.
However, when I was younger and had more time (but less money to invest) I did a set of analyses comparing histo…
Riffing on @LewisBraham responding to @FD1000: 2001 dot-com specialness -- a lot of "top" companies got to the top and....
In the short run, the market is a voting machine; in the long run it is a weighing machine. Belief in that principle (as we…
Some jumbled thoughts on bonds and portfolio construction:
I swapped my pure corporate bond funds for a global bond fund about 3 years ago in my Roth account. Since the Roth can sit idle longer than my traditional 401k and therefore has longer to…
I would take much of the news coming out of China with a grain of salt. Same for tales of rapidly scaling quality PPE.
This is not to say that I'm not extremely disappointed in aspects of our own response, including the so-called leadership and co…
