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Scott- for heaven's sake, don't let a casual throw-away remark govern your discretion. No harm was meant- none should be taken.
Regards- OJ
I agree; though there's a point there in Hank's post, it shouldn't be thought of as directed at Scott, but m…
It's breathtaking how quickly traders jump on any 'oversold'-like opportunity. That article was published today, apparently written a few days ago (it's a little stale on the HY spread peak, which happened last Wednesday per the FRED calculation). W…
Low volatility-focused funds are fairly good at preservation in a downturn, although they typically won't win much of anything in an upmarket. For one month, which pretty much captures the downturn since Sept. 18:
VFIAX (Vanguard's S&P 500 inde…
The 1850-ish support level (I still don't know where that comes from) has held, T rates are up, and energy (both fossil fuels and renewables) is getting a major bid.
Wonder what'll happen in the next five minutes.
With all of the discussion about energy being creamed, look at the drop solar stocks have taken. Once again, we have zero long-term view in this country - the SECOND oil drops in price, solar is thrown out without a moment's hesitation.
Yep, Scott,…
Also overweight the dollar, and no blue skies for foreign stocks or currencies - Cornerstone sees these current trends lasting into the 'long term.' U.S. mega caps aren't such a good play because a large share of revenue comes from abroad, and in fo…
1905 is the 200d simple moving average, which is apparently why he mentions 1900-1905 in the piece. But there's no rationale given for anything he's quoted as saying, so it's anyone's guess.
A blowthrough of the 200d (especially one that's sustain…
@John Chisum: I'm just the messenger, not the message.
Ted, if you don't want that angle to be misunderstood, you need to put quotes around the sentence(s) you quote from the articles you post, as has been said before, and as we all learned in juni…
Hey John - IG = investment grade, AAA-BBB credit rating, the zone that's generally more affected by rate changes, and whose prices typically run in the opposite direction from stocks.
From Barron's blog, a nice summary of YTD action in bonds - remember the talking heads predicting 'nowhere to go but up' when the 10y hit 3%?
Like expatsp said, choice of bonds depends hugely on what else is in the portfolio, and the last few days…
John, like the article says but doesn't go into detail on, there's more to the story than just a general "rising rate scenario." At the most basic level, if it's the Fed raising its key short rate, the part of the curve directly affected is the shor…
WisdomTree has a suite of hedged Japan etf's if that's of interest ... DXJ is the broad-based one.
The Matthews prospectus boilerplate language (for each of its stock funds, under "Principal Investment Risks") says this:
'While the Fund is permi…
Junkster: "To find out which open end are which you don't need to read any prospectus. You can just go to Yahoo finance and click on the historical prices of the fund in question."
Yes! I wanted to highlight this statement, 'cause at least some pro…
BG might do well starting with a low-AUM unconstrained fund, if the BOND-PTTRX history is any guide. Using essentially the same general strategy, BOND whipped PTTRX handily since inception in 2012: +15.5% vs. + 8.4% cumulative, per M* chart function…
I'd also guess cme is the exchange where the interest rate swap is held/was purchased.
Bingo! Chicago Mercantile Exchange. From the intro to the Wikipedia entry for 'CME Group':
"CME Group Inc. (Chicago Mercantile Exchange & Chicago Board of Tr…
rjb, I think "Irs Aud" is "interest rate swap, Australian dollar," which may be effectively a way to hedge the currency risk of owning Aussie debt, which PIMIX has had as a significant position for a while. Somebody correct me on that, please, if it…
Oh great. Upcoming: the financial media reports breathlessly that Ivascyn shifted his allocation from 43.1 to 43.2% mortgages last month! (Like they did every month with Gross ...)
From the article:
"Morningstar, whose star rating system is influential among wealth advisers, said that it was reviewing its ratings of all Pimco managed funds ...."
Seems to imply that the star ratings of Pimco funds are under review, and of co…
The lack of an apparent attempt to groom a new public face for the company makes me think that there was little planning for the eventuality of a Pimco without Gross.
Agreed. It sounds like it was a rebellion from within the #2 layer that precipita…
PIMCO is, and has been for a few years, MUCH more than Bill Gross. They already have, and have had, a team approach on the investment committee that sets the macro outlook for the firm's funds, a top-notch analyst staff, and a solid group of fund ma…
Agreed, Scott, about the lack of specifics on how they run PQTIX. I'd been watching the monthly Pimco portfolio disclosures before deciding to take the plunge, and they show what exposures they have in broad categories (equity, currencies, rates, co…
As several MFOers are apparently doing, buying a last chunk of GPROX tomorrow.
New positions recently:
* PQTIX, the Pimco managed futures fund that's apparently run with more of a tactical allocation strategy than the absolute return strategy of…
Scanning the article, the author - not Bernstein - seems to be supplying the "only." Without Bernstein's full text - it's hard to evaluate.
Yep, Hank, it seems to be Michael Aniero's style to overstate just about everything, plus he doesn't supply…
Here we go - quantifying the concentration risk of the FM index after the shift, from Laura Geritz's (WAFMX) quarterly commentary:
"With the UAE and Qatar gone from the MSCI Frontier Index, nearly half of the Index is made up of two dominant market…
Thanks for the more complete writeups, LLJB. From the WSJ piece, it does sound like the index reconfiguration (and piles of investor $ going into FM funds?) was the catalyst for the warning. The quote from the spokesperson, though, was about the att…
So why would FINRA issue an "alert" right now, as opposed to a month ago, six months ago, a year ago, etc.? The alert begs the question, and nothing in the very brief article gives a hint as to what the answer might be. Did they just now notice that…
Interest rate sensitive stocks down today. MLPs down as well. Concerns over rising interest rates.
VPU, the U.S. utilities etf, was hit big today too - down 1.88%.
I think one lesson of the bond market hiccup of recent days is that, despite the many months now that the Fed has clearly signaled gradual tightening, it's so NOT priced into the market that a rumor of a relatively minor shift in language produces a…
For jlev, the OP, I think the bond question depends on how you and your significant other would react to a 30%-plus drawdown in your net worth.
You could pick actively managed bond funds that at times are correlated with stocks, but fairly weakly …
MAINX is mostly EM, but not 100%. The Matthews site lists several countries in the portfolio that are either always or usually considered 'developed' - Hong Kong, Oz, Singapore, Korea (they mean South, of course), and very small holdings in NZ and J…
