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Just another viewpoint: anyone who owns a substantial slug in their older global funds may not particularly need to chase the micro fund - GPROX has 30% in micros and GPGOX has 25%.
It's not just the 100y bonds; Pimco has quite a bit of P'bras of various issues across the board in their credit FI funds and cef's. And they've also got Gazprom almost everywhere you look ... just don't get it.
Couldn't make it all the way to the end. What did he finally recommend people invest in now? (Gold I'd suspect.)
Yep, you got it, Hank. The guy's a classic hard-money gold bug, and he pretty much said central banks shouldn't exist. The only piece mi…
I hadn't thought about WTIFX in a long time either, Slick; had it on watch for a while but never bought in. A few years ago it was predominately in industrials; now, from a quick look, it's 3/4 or so in industrials, tech, and consumer discretionary,…
Hi OJ, you may know this already, but using Yahoo dividend-adjusted price data on a spreadsheet is an easy way to figure total return for any time period you want -- just beware of late posting of recent divs, and in rare cases, completely missing d…
... the newer ESG styles ranks companies within industries and then tries to buy the ones with the best environmental, social and governance records. So for instance oil stocks are not excluded but only the ones with the worst ESG rankings. This man…
HFXIX limits itself to S&P 500 index futures, so it's kind of a different animal from the mostly wider-ranging MF category where M* has it pigeonholed. Just from a quick glance, I'd probably compare it more with long-short or market neutral equi…
Good interview: the word "macro" really does belong in the title of the fund Mr. Singer runs, and it oughta be "global macro." His take on China and on EMs in general is worth listening to, especially during this China + EM rout, for a little balanc…
Not short duration high yield, but what I've been using for that next risk-rung up from cash is Pimco's PMZIX, an absolute return fund that uses mortgages with ye olde signature Pimco derivative & rate swap strategy. Yield about 3.30%, up 2.4% y…
Can anyone offer a reason why ZEOIX is holding up better?
From a quick glance, the main reason must be that it's not as junky as RSIVX. (See the yield difference and the credit quality distribution.)
Market neutral QMNNX. Also, I've been surprised how contained QUSOX's losses have been. It's held up better than GPROX, even with an all-foreign portfolio.
A sort of interesting technical tidbit: 1970 has been cited I dunno how many times (e.g., here, months ago) as a key support level for the S&P, and it closed there, on the nose, today.
"A bit illogical. If currently low rates aren't providing much stimulus, why do they think going back to these rates at some future point would help?"
It won't. But what else can they do...well, aside from NIRP, that is.
At that point, it'd be more…
Great point of JG's that once the first 0.25 or so is in, Fed watching will probably shift to "when's the next one" and "how fast," and won't settle down at all. Fed "uncertainty" won't go away, it'll just shift focus. (And then there's always the c…
On RSIVX, I think it depends on whether you invest primarily for income or for total return. If the former, it still looks fairly good. One indicator: last December, in the HY selloff, it did better than its peers/near-peers of the short & junky…
Had to go back & reread the text on the Stalwarts funds: says capacity is ~ $7B for the two, so they should be available for a while, or at least not hard closed for a while.
In the past I've used DFJ (small cap Japan), EWS (Singapore), and EWH (Hong Kong) for value trading, but don't have any single-country ex-U.S. holdings now. EWS is at a 52-week low, but I'm not buying (at least yet) since it looks like there are ple…
RSIVX has struggled this year, that's for sure. I see other funds as better alternatives for total return, such as DLINX, ASHDX and OSTIX.
+1. The funds Will mentioned have considerably better Sharpes and up-down capture than RSIVX. (It's in the sa…
Fidelity offers lots of A shares load-waived & NTF, including OSMAX. The ones that are LW & NTF are shown as such right below the name of the fund, at the top of the fund page, e.g., here.
Buying/selling at these levels? Not much, still ~ 40% cash & stable value, but nibbling at three relatively attractively priced cef's of various portfolios and pedigrees (PTY, DBL, FPF) and one etf (PCY), plus adding a little to core-ish bonds s…
RNDLX assets are divvied into three sleeves, two FI sleeves run by Dbl and the CEF sleeve run by RN, and RN as I understand it determines the allocations to each sleeve, which they can change fairly significantly. One attraction someone on M* mentio…
@kevindow. I have sworn off all things AQR. They are not a retail investors friend.
PS How are you able to by institutional shares?
AQR at Fidelity in an IRA is reasonable. I'm in their market neutral fund, QMNNX (investor shares' ticker), which at…
TSP: With that view on coal, you have to wonder what planet those guys are living on. Does FPA have an interstellar mailing address these days? -- AJ
P.S. And I mean that purely in an investment sense.
msf: "And you can't write checks from a MM account within a brokerage."
Yes, when they converted my account, I received a note that the old check-writing scheme was no longer valid, but that I could specify a Vanguard fund in the account for check-…
Hi @AndyJ, Have not checked; but just from the top of the head recall. The 60 day rule "sale" holding period for some funds is not necessarily a Fido fee, if I recall properly.
The 60d early redemption fee I meant is Fido's for a non-Fido fund pur…
Vanguard used to give you one account number for Vanguard MFs and a different account & number for investments bought thru the brokerage. Last year they consolidated - Vanguard funds, other family funds, stocks, etfs, etc. are all accounted for …
Thanks from here too, Bee - the audio link is a really good source generally about strategic allocation for income-focused investing, and specifically for ideas for tweaks for H2 2015. -- AJ
I'm really interested in it, but a personal rule I follow 99% of the time is to wait for at least the first report before investing in a new fund. I'm not sure yet that it's guaranteed to be the same fund, and I really didn't consider it, in its old…
I just scrolled down through the P's, R's, and S's (since I started on the Parnassus page), looking at a fund here & there with decent (mostly A) rankings on down-market performance, and several of them are hugely at odds with M* risk ratings.
…
david, you mean the D rating of PRBLX in up markets? I think I remember right that Forbes used to have it as a C/A, so if that's correct it's gone down one notch for up markets. Not really a surprise; it's been dragging along for the past year or so…
If the M* portfolio holdings detail and the fund fact sheet are to be believed, SHAIX is going for market neutral & low-ish volatiility. It's essentially long the S&P 500 and short an equivalent total percentage of 120+ stocks. Over the last…
David S.: "It might be that uprooting Mr. K. from Thornburg's rich analyst corps will cause him to wither ...."
That's my question exactly about LK at Artisan; what kind of analyst support will he have there?
I see the prospectus (both forms) &am…
I've been a fan of Cam Hui's analysis (Humble Student of the Markets) for a while, and he has a good piece up on OJ's question. Short version: a 10-20% equity downdraft is likely in the near to intermediate term, but it needs a trigger to get going,…
Interesting that the 'Principal Investment Strategies' in the prelim prospectus reads like a multi-asset, multi-strategy alt fund, but the advisor is listed on p. 24 as Vanguard's Equity Investment Group. Then it goes on to say that "the Fund reserv…
