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The millennials I come in contact with on a regular basis are startup farmers (for urban and semi-urban markets) and are working their asses off, and wouldn't have time for a frappuccino even if they wanted one.
Thanks, fundalarm, didn't think you had anything against it, just checking on composition per your earlier post. It does have a bit more HY and non-U.S. developed than PDI. (Still have a relative lot of PDI here, less of PCI.)
The HY corp spread is within 20 basis points of a 10-year low: definitely not a bargain at these levels. Some of the multi-sector funds many of us own have small allocations to HY, which imho is plenty, for now, with the valuations so stretched.
Yeah, a few decent tips in there. Not sure I could bring myself to invest in something called Chimera Preferreds tho - might turn out to be too much like its namesake: "a horrible or unreal creature of the imagination; a vain or idle fancy."
In the "he gets it" department, Grantham's also the founder/benefactor of the climate research institute named for him at LSE: http://www.lse.ac.uk/GranthamInstitute/
Nice job on the Evermore fund. I sit here wondering why I didn't put some $ into it when I first caught wind of it; value trap possibilities may have been the reason (?). Anyone here invested in it, with additional insights to offer?
Good, thanks. I called a month or so ago and was told not to expect full holdings disclosure until after the end of Q3. Sure hope the right hand knows what the left hand is doing in this new joint venture.
Sorry to keep beating the horse Zinke rode in on (yes, on his first day at his new job at Interior), but I can't pass up posting this summary from WaPo's Daily 202 blog:
"Murkowski ... took it one step further and demonstrated that she has more le…
@Old Joe, you got it. I saw a copy of his first address to DOI employees, and it was remarkably disjointed, off topic, and weird; he is a strange bird for sure.
Of all of the amazing things the past few days, the Murkowski affair provided (for me, anyway) the biggest LOL moments. The hamhanded Zinke threatening the senator who chairs the Senate committee that has jurisdiction over his agency's nominations a…
A totally reasonable position:
"We are basically overweight investment-grade credit. We have reduced ... our exposure to high yield. We have ... eliminated our exposure to bank loans. We have a small position in preferred stocks.
"We're starting …
@msf, hope you got to Tasmania; beautiful, friendly, great parks and reserves. But since it's winter there, and more temperate than subtropical/tropical like the rest of the country, you may not have; if not, it's definitely worth another trip.
Ri…
It's their own calculation, but the source I usually go to is ECRI, which publishes weekly leading indicators. Most of the site is paid subscriber only, but the free content is plenty for most of us duffers.
Here's the explanation of their approach.
Of course there are lots of A shares offered load-waived at various brokerages -- even a few of the ones Wagg features in the article are LW at Fidelity.
Got kind of an apples & oranges thing going on there. Macro (big trends affecting investment, economics) and micro (investing in specific securities) are different. Plenty of "pros" are good at one and not so good at the other, so dismissing out…
Building cash & safe havens a bit as momentum stalls nearly across the board: sold PFN (still fairly healthy stakes in PCI & PDI, but much more in PIMIX); first adds into foothold positions in QLENX and QMNNX in quite a while.
In the George C. Scott classic The Flim Flam Man Scott's disreputable character drives an Edsel. Great movie if you can get it. Outrageous funny.
Disreputable? He was running a highly successful education service, Hank! Great film - accidentally c…
tnx
I have read it, on occasion, perhaps thanks to your tipoff prior (?), and found it a little arcane for my presidential attention span :)
There ya go - just take a phrase out of context, so it's 180 degrees from reality, throw in an insult or tw…
if you look at that delta historically, though, this separation overall remains a bit much.
True, and worth watching, but Pimco's CEFs can/have stayed in premium range for long periods because they're always among the best in the business - some of…
@davidmoran, I take it you mean the price today, the 30th? Strong possibility it was just buyers helping it catch up with the premium narrowing of the 29th, when the NAV was up 1% and price flat. None of the other Pim MS CEF NAVs were up nearly that…
Back to the OP's thread subject: FWIW, Yahoo has fixed some of the most egregious problems with the new site. It's still clunkier than the old version, but the historical price data - the reason I go there - is back up and running more or less okay.…
From the WaPo's Daily 202 roundup:
"Don Ritchie, the historian emeritus of the Senate, said that the chamber has not taken such a partisan, closed-door approach to major legislation since in the years before World War I. A century ago, Senate Demo…
The "compromise" argument is inoperable in this case. Both the House and Senate bills were drafted in secret, no hearings, no proposed amendments allowed -- not to mention that in this case, a "compromise" would mean eliminating the health care safe…
to expand the discussion:
http://www.newyorker.com/magazine/2017/06/26/the-race-to-solar-power-africa
Great piece. Remember BP's international solar division? Skipping the centralized fossil fuel era was the idea, and they did some work in that dir…
Right, @OldJoe, thanks for the clear explanation. Hope I didn't leave the impression that there's more than one feed between the utility and house - the beauty of AC ...
@davidmoran: No elec coming from roof to main, effectively, right?
In the system here, at least, the way the master elec who tied the line from the roof into the main explained it, yes, elec from the roof goes into the main and then goes either int…
@Ted>> How much does it cost you to maintain the panels, and how often do they need to be cleaned ?
Zero and never are the answers.
Well, I've had a completely different experience, David. I spent $18.95 or some such on a long-handled broom/…
Here's an article on Lazard's latest "LCOE" (levelized cost of energy) analysis, with a link to the full report. Summary quote:
Lazard’s annual LCOE study, released last week, is widely read in the power sector. The latest edition shows continued …
Have you looked at RAANX? It has a lot of cell towers, data centers,......it's not your typical RE fund, I don't think.
Right, unusual holdings - sort of r/e and infrastructure - and it's long-short. Worth a close look, imho. Thanks for pointing i…
Why is POGRX easier to add to at Fidelity? I don't see it being NTF.
It's $50 when first purchasing, but then the fee is reduced to $5 on each additional purchase. Hopefully that has not changed...
To do a single additional investment to an exist…
Another lens is to look at them as far as credit and rate sensitivity go (and what you think might happen to those categories of reward:risk over your holding period). They're pretty different on those metrics.
OSTIX is almost entirely credit sens…
I follow only one fund on your list, PARWX, and while it's been a great fund over the years, to me it's not a fund for a down market, if you have any caution on that score. I agree with what LLJB said above about that.
You might look at JENSX, whi…
The falling inflation figures out this a.m. are apparently one of the main reasons for the big drop in Treasury yields today. Muni CEFs are catching a bid, multi-sectors not so much.
According to a source quoted by CNBC this morning, the Fed fund …
EM debt's had a good run, and the yields and spread don't really inspire a lot of optimism for the near future. I'd be at least a little cautious jumping in with new $ right now.
Just fyi, those who own PIMIX/PONDX already have ~ 15% in EM, overwe…
