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.
The Shiller Barclays CAPE US Core Sector Index -- underlying index for the CAPE ETN --has had attractive backtested returns during periods of both growth dominant and value dominant markets. So I am adequately confident to hold DSEEX in varying mark…
@msf, Thanks for the link. M* has explained this to me in the past, but I still don't buy their treatment of expenses.
M* needs to realize that most investors check the M* front page expenses and call it a day -- and this includes fairly knowledge…
According to the most recent prospectus, the actual total expense ratio after fee waivers and expense reimbursements for QLEIX and QLENX are 1.89% and 2.14%, respectively. As M* has consistently bent over backwards to be friendly with mutual fund co…
@VintageFreak, In the World Allocation space, I would prefer MTOIX, which is available in Fidelity retirement accounts for a $500 minimum + TF according to a test trade I just made.
Kevin
I continue to like the low volatility approach, which history also likes. We continue to like and own XSLV in the SC space. And XMLV and SPHD look good in the MC and LC spaces.
Kevin
I continue to be a fan of low volatility investing, and the low volatility/high dividend ETF, SPHD, continues to work. This ETF has done reasonably well since the TLT peaked on 7/8/2016, and has outperformed the S&P 500 since its inception.
CH…
In the low volatility space, SPHD continues to work and the underlying index has had excellent backtested returns:
S&P 500 LOW VOLATILITY HIGH DIVIDEND
Kevin
@Archaic, Outstanding insight, and I fully agree !! I am a better saver and investor, and financially wealthier thanks to Roy (and of course Ted, the resident Linkster )!
I always tell my beloved wife and loving mother of our seven children that t…
Au contraire !!
About one week after the election, we shifted funds to XSLV, which has worked over the past month and since inception. XMLV has not done as well in the short-term, but still has performed well since inception.
CHART
Kevin
Roy, great to hear from you ! Thanks for all of your contributions over the years with FundAlarm. Please stay healthy and safe, with an overabundance of happiness !
Kevin
@VintageFreak, You have obviously not visited the MFO Off-Topic forum ! :-)
Seriously though, if I were a mutual fund manager, my wife would seriously consider divorcing me if she saw THIS !
Kevin
Article title should be: "This Fund Reinforces The Case For Passive Management"
I really need to add GOODX to my POST on 12/2/2016.
Please explain why I should even consider the opinions of the managers whose fund has had incredibly poor returns a…
@Sven, I think domestic equities will likely have a dip at the inauguration, which should be bought. Then hang on through the April or May. The market should be choppy through the summer, and then head up in the fall of 2017. I am bullish on domesti…
With all due respect, I see absolutely nothing compelling about SAVIX. This fund is a low volatility and low return fund by my eyes and the analysis of M*. If one excludes 2008, this fund is even more underwhelming. It is very easy to get lost in ri…
@Edmond, Totally agree with your assessment. Equities over FI. Domestic equities over Foreign/EM equities. SC/MC domestic equities over LC equities. The domestic equity indices are going higher.
Kevin
During this period of thanksgiving, I am grateful for Bruce Berkowitz (FAIRX, FAAFX), Scott Barbee (AVALX), Eric Cinnamond (ARIVX ... RIP), Malcolm Fobes (BFOCX), Ken Heebner (CGMFX, LOMMX) and the poker face David Einhorn (GLRE) for convincing me t…
@shipwreckedandalone, I would take a look at AOR, which is a global 60/40 ETF having adequate daily trading volume and a reasonably low expense ratio. You could also use VBINX and add VXUS and BNDX to create your own index mix.
Kevin
According to the latest SPIVA US Mid-Year report, over the past 10 years (includes 2008 downdraft) 81.94% and 81.82% of actively managed EM equity and EM bond funds, respectively, were outperformed by their benchmark indices.
Also, as I see it, m…
@bee, Nothing to disagree with Dr. Byrne's points. Wall Street has always had political allies who were purchased with contributions. And too many of the folks on Bloomberg and CNBC are good looking teleprompter readers and at most journalists, and …
@Sven, I agree. Right now in the FI space, I like Ivascyn (PIMIX, PDIIX, PDI), Gundlach (DBLFX, ADLIX) and WHAIX (available at TDAmeritrade for no minimum in retirement accounts with TF). Nothing else.
Kevin
One also needs to consider securities lending fees generated by the large ETFs which may make them essentially free to own:
http://www.forbes.com/sites/simonmoore/2014/08/29/securities-lending-makes-some-etfs-free/#23f36f4c2b44
Kevin
@VintageFreak: I follow your posts as you are a seasoned and wise investor. However, I would not pull the trigger on any of these FPA funds as there are more attractive and lower cost alternatives:
CHART
Kevin
@JoJo26:
QLEIX and QLENX are available in Fidelity retirement accounts for $100K and $500 minimums, respectively, with a TF.
@msf:
I totally agree with your assessment of the ER. That is why I have been advocating for years that M* report on the …
@JoJo26:
The Long/Short Equity space is very troubled, as there have been very few funds which have had attractive long-term performance, and the expenses of such funds are inherently high, which serves as a drag for future performance. Whenever I…
Most studies indicate that lump sum investing beats dollar cost averaging over long periods. That being said, if it was my money and in order for me to sleep well at night, I would deploy the cash over the next 3-6 months.
Also, I would be relucta…
The story is a little more complex, as there are also the rapidly growing number of actively managed (by methodology) funds/ETFs, such as those offered by DFA, WisdomTree, PowerShares and others, as well as the assortment of quality factor and volat…
@expatsp: Apparently the attractiveness of low volatility portfolios has been known since the 1960s-1970s per AQR, but has only recently become indexed and become popular. But the effect is real and works for domestic and foreign equities.
AQR Pape…
I would take a serious look at the very low cost (ER 0.20%) and liquid (850K avg. daily volume) EFAV which has performed well since inception and its underlying index has very attractive back-tested performance:
Index Performance
Kevin
"Andrew Lo: Please Keep Your Day Job at MIT" (from 2012)
http://www.mutualfundobserver.com/discuss/discussion/2311/andrew-lo-please-keep-your-day-job-at-mit
The only ALT funds that interest me at this time are LCSIX, OTTRX, QLEIX and QMNIX. Disclo…
According to Barchart Opinion: SPY is short-term challenged, but IWM, IJH, EFA and EEM look adequately healthy.
The S&P 500 bounced off 2050 twice on this past Friday, which appears to be short-term support.
Kevin
@mcmarasco:
As we approach a "challenged" part of the year (May-Oct) and with the S&P having difficulty breaking through 2100, I would consider being very conservative with additional LCV exposure by using something like VWIAX if you don't alre…
@mcmarasco,
It would be nice if we had an ongoing Buy/Hold/Sell thread here at MFO, with justification provided but not required. So basically you would get the pulse of the members about a certain investment.
Kevin