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.
Regarding FPA International (FPIVX):
It appears that FPIVX received an extremely large and share significant subscription (purchase) as the end of 2012 that doubled the fund's assets. The increase was so great as to completely skew the asset alloca…
Is there any logical reason to buy a bond fund that has a negative duration? Isn't that what equities are for?
The role of bonds in my portfolio is to produce income and to provide downside protection from equity funds. A bond fund that has a nega…
MFO is my favorite website and one I check several times a day for insightful comments from David and other members. David, your dedication and sacrifice are greatly appreciated.
Mike_E
Thanks Investor. I've reproduced your table in my own Excel spreadsheet. Thanks for your great clarity and example in an area that is often overlooked by average investors - What is my true return?
Thanks for your contributions.
Mike_E
Reply to @BannedfromBogleheads:
I lifted a snippet from the recent interview with Dr. Eugene Fama where he is asked about risk-parity strategy. He remains unconvinced. Here is a portion of the interview:
Litterman: What do you think of the risk p…
Thanks fundalarm for your input. I know I'm slow, but ... from an asset allocation perspective, there's a difference between being 49% long equity with 51% cash and being 125% gross equity.
Here's why: Assume the market corrects 10%. A net 49% lon…
Reply to @andrei:
Regarding the 150% investment, I often double check portfolio stats from Morningstar by going directly to the fund company. Below is a link to Pimco Income's Portfolio as of 7/31/12. Click on "Portfolio" after following the link.…
Thank you David for your great service and dedication. I always eagerly look forward to reading your monthly commentary over a cup of coffee. Keep up the great work - you are much appreciated!
Mike_E
To Mr. Cinnamond, David Snowball, and the mutual fund observer community:
I ask for your forgiveness for my coming across as a complete ass who thinks he knows better than a seasoned mutual fund manager. My bad.
Sincerely,
Mike_E
Hi everyone,
Eric Cinnamond evidently buys with conviction - he holds approximately 30 positions. And I admire that in a fund manager.
I concur that the small caps increasing 10% ytd has reduced the opportunities for Mr. Cinnamond to fund new pos…
The prospectus was filed on November 14, 2011. It says it will become effective 75 days after the filing date of 11/14/11. This puts a potential starting date of January 28, but more than likely, Jan 30 or Feb 1 since Jan 28 is a Saturday.
I'm eage…
I apologize for not being clear. I assumed a hypothetical trade and its outcome based on rounding NAV to the nearest cent. I haven't purchased any shares yet, but I intend to when the funds become available at VBS. Sorry for the confusion.
Mike_E
BOGSX- Black Oak Emerging Technology Fund.
I bought it during the dot come meltdown. Wow, I have never lost money so fast as I did in that fund. Bought in '01 and sold in '04. Painful, just painful.
Well said and thought out _AP_. And I agree. What I struggle against is with what happened to the Dallas Cowboys in the late 1990's - they held on to their aging veterans too long and suffered for it. Am I holding on to an aging veteran that has ser…