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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…
" ... based on more than two decades of data, 1) randomly selected active U.S. small-company stock funds, 2) randomly selected active international large-company stock funds, and 3) randomly selected active U.S. large-company funds that were screen…
Taxable account. What I use it for is basically the expectation I mentioned. I keep a range of credit-risky FI in what I think of as a separate sleeve in the portfolio, and ASHDX is a lower duration/higher quality (and therefore presumably less risk…
I've had a moderate position in ASHDX since early this year; so far, so good. Short-term, higher-quality junk is the game, decent yield with lower volatility & credit risk (than other HY) is the expectation. Haven't followed OSTIX lately, but in…
I guess Mr. Icahn was on vacation on another planet last June, when junk really was high-priced at a spread of 3.4 and yield of 5.2, versus 4.6 and 6.1 now. Is he confusing energy junk with the broader category? Maybe - lower down in the article, it…
That Driehaus paper is excellent. I was interested to see what fund portfolio moves managers are making to try to accommodate reduced liquidity (in addition to or instead of what David Sherman talks about), and found this in the paper:
"Here’s what…
Great call; missed it but caught the mp3 yesterday. I thought AF's explanation of how security picking and macro interact in the Seafarer process was about the most detailed and illuminating I've heard from any manager.
Great analysis, msf.
Brian W.: "It would be nice if more employers offered 401k plans, but who would use them." At least 80% participate now, per the info from the EBRI paper msf quotes.
OJ: "In the example that you give, you present an improbable extreme situation ..."
Maybe, but there could be multiple other reasons to vote against a board candidate or a slate of candidates - cronyism, self dealing, etc., and I'd argue you're giv…
OJ - how about this hypothetical: A fund you own has a large stake in a particular company. A known securities fraudster is nominated for the board of said company. Wouldn't you want your fund's shares in the company voted against that board candida…
Looks like at least the latest conference calls get a summary and a replay link under Funds/Featured Funds, from the menu at the top of each page. I guess we can assume the Seafarer call will wind up there when ready (?).
The "stalwarts" funds appear to be more for mid- and large-cap stocks (> $1.5 billion). I suppose that's the reason they figure they have adequate capacity for new funds and can't afford to remove the hard close on the others.
Question: The fund as of 1-31 had ~ 12% in preferreds, convertibles, and sovereign bonds. Does Andrew continue to see opportunities in those assets, and if so, could he explain in what sectors & countries he sees value there now?
Thanks for ask…
I've looked for FM holdings in the reports from time to time, and the only ones I recall are Vietnamese companies, which Andrew touted early on as having a lot of potential. (Recall he held a V. etf for a while before he was cleared to trade in V. s…
Okay, so Bluetrend is Braga's fund. That fills out the picture; thanks for the info.
Just from watching and reading about EBCIX, I'd been thinking that'd be the Equinox fund I'd pick if I had to invest in one.
Hey Scott, it's the same company, maybe not the same hedge fund (?), and actually BlueCrest, as of the first of the year, no longer has anything to do with the mutual fund. A woman named Leda Braga developed a trading system at BlueCrest and then sp…
Equinox has quite the stable of alt funds, most of which are managed futures, but they're not all 100% trend following. See, for example, the BlueCrest fund: they show a spiderweb illustration of the each of their funds' "trading style," and EBCIX i…
...market hasn't even gone down 10-15% and already one of the Fed governors is talking asset purchases.
Scott, you do understand that the stock market isn't what the Fed is primarily concerned with, yes? ---- AJ
The weather excuse whenever things aren't going well during this time of year is garbage. Grew up in the midwest and it was (and still is) cold as a MFer at times in the Winter and the world didn't/doesn't shut down. The revisions to prior month/s w…
Yeah, the $100k taxable/$5k IRA are the minimums if you buy directly from DoubleLine, and as far as I'm aware that's the deal with (most? all?) the supermarkets too. The I shares (typically? always?) have a TF at the supermarkets, but the E.R. is 25…
What do folks think of Doubleline's new ETF TOTL?
When TOTL launched, the fund materials and the portfolio made it look like it's going to be ~ the asset mix of DBLFX and ~ the duration approach of DBLTX, which ought to be a pretty good bet. So fa…
golub, in addition to the slightly long-biased Equity Long-Short fund Kevin mentioned, AQR also has Equity Market Neutral (QMNIX & QMNNX are the TF + cheaper E.R. and NTF + more expensive E.R. share classes, respectively).
The long-short and t…
Did he mention or infer which of his funds seemed most appropriate for the current climate?
I didn't catch it if he did, and I don't recall him ever doing that (i.e., stating what he thinks the current climate is and which fund is best positioned fo…
Thanks for the summary, TSP. Also, he repeated that he doesn't see any compelling case for now for significant interest rate increases; even said Dbline added some long exposure after the recent jump. (But watch out ~ 2018, when a perfect storm of d…
