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.
Hussman did not believe that QE1/2/2.5/etc would have the effect it did and that logic and fundamentals still had a place of any significance in the market. Silly Hussman. I don't think Hussman doesn't believe what he says; he certainly makes though…
I certainly think it's a fine idea; I certainly have more aggressive investments - stocks or funds - paired with alternative investments.
I think with less aggressive stock funds though you have to expect off years - FVALX has been great during dow…
Doug Kass is spreading the rumor that Europe is going to suspend mark-to-market. Fantasy for everyone! (if actually true.)
http://market-ticker.org/akcs-www?singlepost=2697801
I thought about investing a little in Starbucks solely because of this. Didn't do that, but at least went there a few times as a result of the Schultz letter.
Reply to @hank: "How ya gonna get rich doin that?" It's not even that as much as how do you keep up with inflation. Investing in a negative real rate environment.
I think the shift has already occurred to a significant degree. The asset class was under-owned, but one can argue that it's reached equilibrium at the very least and could become more noticeably crowded as the market isn't giant. Additionally, give…
A few thoughts:
I love alternative investments - absolute return, long/short, event-driven, managed futures, etc. However, there will be times when each of these strategies will underperform. Additionally, I think many of these investments are eith…
Reply to @Kenster1_GlobalValue: ".if EM equities drop say 30%, what do a lot of investors do?"
This fund is at least somewhat protected by the put options on the index.
The issue that I continue to have is that at some point if Bill Gross sees a very large shift in the bond market, he can't make the switch overnight given the size of assets under management; he's going to have to be wrong for a period while making …
Meh. I'm fine with what I have and am not complaining, but I am not adding any more. I thought it was likely going to be a fund-of-funds. I do like that PEMIX is included, as that fund is rather tough to get otherwise. Stock selection on the EM stoc…
Reply to @Kenster1_GlobalValue: Essentially what Kenster said. I think that one should consider load funds if the fund uses a unique strategy (HDCCX in the commodity space, for example) or if the management has demonstrated a consistent level of exc…
Reply to @CathyG: Wow. I think that's pretty stunning. Before anything else, I'm really amazed that such a esoteric investment would be considered in this case.
I think you can wait for the paperwork, but stuff like this: " but the investment shou…
Reply to @MikeM: The argument that I'm trying to make is that the actions taken largely bought time. It inflated a leaking tire without fixing the leak, then wonders why the tire keeps going flat. Would things have been worse had they not acted? Qui…
Reply to @CathyG: While not without volatility, ag is also somewhat less volatile than the rest of the commodities - people have to eat. Strangely, there are little in the way of agricultural mutual funds, but plenty of ETFs, including MOO, PAGG, BA…
He patiently waited until he believed valuations were reasonable and started a position that didn't involve massive risk to the fund. I didn't think the financials were a value for the last couple of years and still think they aren't (and beyond tha…
"Republicans, like the Democrats, are hell bent on bankrupting our country. They just want to bankrupt us more slowly."
The speed thing is debatable, but totally, completely agreed on the general theme.
"We are doomed."
It sounds doomier when Ma…
Reply to @MikeM: The Fed acted, acted again, and here we are discussing whether or not QE3 will happen because things ain't so great. Bank of America - the largest bank by deposits in the US - needed a $5B boost from Buffett, who can crow about how …
I still think the fundamental thesis remains unchanged, but the level of volatility (in both directions) that was commonly seen in the metals a year or so ago may return for the time being. In the short-term, the metals were significantly overbought…
Band-aid one problem here, another one pops up overseas in Germany:
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/08/DAX Crash.jpg
Reply to @CathyG: I actually really like Target (although I remain amazed they appear to have little or no international plans) but it's one of those things where I don't have the ability to invest in too many things and that's just not high enough …
Pretty much this:
http://www.zerohedge.com/news/bank-berkshire-america-buffett-buy-5-billion-preferred-stock-bank-america
Buffett is going to get excellent terms for Buffett and these institutions will not be allowed to fail no matter how many time…
Reply to @catch22: I think it's not that the Fed can't do more, but I think you have to have a functioning political system, which I think we currently do not. Thus, given that our government can barely work together, the pressure then falls upon th…
It's so bad that Jay Leno bought his latest car at Carmax instead of Sotheby's. It's so bad that Jay Leno bought a Schwinn instead of a Harley.
"Today people entered Mexico illegally from the US." (fixed.)
McDonalds has more cash than the US Gover…
Reply to @CathyG: I think everyone comes to the table with their own thoughts and feelings regarding their investment desires. While you "hire" a fund manager that doesn't mean you are not allowed to have strong feelings about a fund's direction esp…
Reply to @CathyG: That's really unfortunate that you're stuck in that situation with USB. No one should say of their financial advisor: "It's a nightmare to try and get them to change anything and the account capital and distributions are going down…
Reply to @CathyG: I think the issue with a Bill Gross and this is the biggest issue with Bill Gross (and this isn't necessarily a negative), is that if Bill Gross sees something happening down the road that requires a fairly large-scale change, Bill…
I'm pretty sure Pimco Global Multi-Asset uses put options, in a manner similar to El-Erian did while at the Harvard Endowment. I'd be surprised if Pimco EM doesn't do the same, but maybe it uses some other bizarre derivatives.
Reply to @Flack: Because I'm too tired to go into detail:
1. MJG is an old-fashioned investor. Buy and hold, yadda yadda.
2. MJG is an optimist in the "We've been through bad things before, the USA is so great that we'll get through this and all th…
Own it - small position and do not plan on adding any more. My guess is that it's a fund-of- Pimco funds with various additional investments, similar to Pimco Global Multi-Asset, only with an EM focus. I'm curious if Pimco EM Infrastructure Bond is …
