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"Marketplace Lending Instruments are generally not rated by the nationally recognized statistical rating organizations and could constitute a highly risky and speculative investment. The Marketplace Lending Instruments in which the Fund may invest m…
"Marketplace Lending Instruments are generally not rated by the nationally recognized statistical rating organizations and could constitute a highly risky and speculative investment. The Marketplace Lending Instruments in which the Fund may invest m…
@Junkster Good to hear there are so many women in your area living past 85; that will keep you busy! :) However, several decades from now, that trend won't be lasting. How would you guess middle-aged women are doing? A research note from CDC ploppe…
@linter
1. M* shows a 30d SEC yield of (---). What is the distribution yield of this fund? If SHAIX produces an income stream, to compensate you for the market risk it is taking, to whom is it "streaming"--- to them, or to you?
2. The fund is hedge…
Is this fund registered as a '40 Act fund? I strongly suspect--- and would be willing to put a little wager on it--- that this fund would be a likely candidate for poster child of the year for a '40 Act fund which is not compliant with all requireme…
So, do we go with interest rate risk, credit risk, or both? If both, any differential weighting? If credit risk, what kind of credit risk--- below investment-grade corps, or below IG MBS, a bit of both? Not hard for a retail investor to do an incred…
The Confuse-a-Cat Shit Skit continues.... IMO, anyone who continues to listen to this clown show is at risk of developing Coulrophobia:
http://www.smithsonianmag.com/arts-culture/the-history-and-psychology-of-clowns-being-scary-20394516/?no-ist
"In…
@Old_Joe Did CA cut off the water to the California Cuties? This time of year, they are normally large-bodied and plentiful. For the past 2 months, I didn't see them in any stores in Reno or Carson City, until last week when one store had a small di…
A new ETF, actively managed in quant-geek style (they use computers!), that has no established record. The fund is managed by someone who has never before managed OPM (is that really the case? I don't know); but... but... but he wrote a book and he …
It would not surprise me if countries in the future went cashless
@scott yes, we would be so much easier to monitor and to control that way
@Jarrett well, Congress isn't entirely tapped out; there is always that big pot of money they borrow from, p…
@Dex With retailers--- esp. national chain store retailers--- one never knows. They come and go, seemingly with the passing of the tides. But given my strange fondness for corporate-speak, and how invariably disingenuous it is, I really should have …
@scott German Parliament having a little bit of a problem as well.
http://www.itworld.com/article/2934135/security/german-parliament-may-need-to-replace-all-software-and-hardware-after-hack.html
Doggonit, can't we all just get along? :) Ha, fat cha…
Well, let's not rush to judgement. Let us hear what our hero fallen from grace, General Julian Ewell David Petraeus, butcher of the Mekong Delta Northern Iraq, has to say. After all, if it were not for his wonder work, ISIS wouldn't exist; and 1000s…
@MJG I would prefer to read research papers that appear in professional Journals that have at least a couple of referees. Technical though it may be, this is a student paper submitted as an honors project to their business school for review, to sati…
Historically, a tight correlation existed between the M2 money supply, its velocity, and the Nation’s GDP number. That tight correlation no longer exists; it has significantly degraded recently.
@MJG Well, you can certainly say that understatement a…
There are many good reasons for MSCI's delay (although the change is coming). There are still purchasing restrictions in place for ownership of stocks represented in various Chinese stock indexes. Transparency/reporting practices, quotas, accessibil…
Update
The adversarial atmosphere of negotiations increases.
http://www.bloomberg.com/news/articles/2015-06-11/ukraine-bonds-drop-as-jaresko-said-to-seek-40-principal-cut-iary9dc1
The country will stop making payments on its debt if talks don’t mak…
The Man simply cannot shut up, seemingly oblivious to the fact his Street Cred has taken a hit. Why not focus like a laser beam on your new charge and let performance do the talking, front and center? Just for awhile, Bill; would that be so onerous?…
I now have financial seminar offers with dinner coming to me in brief micro-bursts---a flurry for a month, then 5 months of radio silence. Blessed silence. On the other hand, I did receive a lovely card from one of my CC "stakeholders" yesterday (cr…
Seniors have a lifetime of experiences to tap. If the rubber should ever meet the road and there is not enough tread on the tires, many may show their "resourcefulness" and do what needs to be done.
http://www.bloomberg.com/news/articles/2015-05-28/…
It looked like credit-sensitive stuff held up o.k. last week, as long as duration wasn't too high, but interest-sensitive asset classes.... not so much. EM bonds also ended the week sadly, with some funds doing poorly and some funds hanging tough. A…
If they are going to an all-cap pose, I doubt they would liquidate the entire present portfolio and relinquish all of the sweet sc/mc positions in current holdings. So unless FPA sent *M a memo re. planned sales, I don't know how they would be able …
@David_Snowball LOL! You devil, you know very well that, for long-time investors, this is where the spit hits the griddle. Or, as I overheard someone say yesterday in Costco, "that's where the pavement hits the road" (to which his blind-listener rep…
This is not a trivial change, but it appears (to me) to be a pretty fundamental re-do:
http://www.fpafunds.com/docs/fund-announcements/2015-06-04-perennial-press-release-final.pdf?sfvrsn=2lease-final.pdf?sfvrsn=2
1. New manager change, plus an alte…
@Ted Yeah, exactly the same notion I've been mulling over since reading the announcement. I wasn't aware that EMs, as a whole, had matured to the point where individual stocks could be thrown into one camp or another. We should get a first peak at t…
I continue to direct a portion of my monthly cash flow to the Calamitous Dead Shoots Opportunity Fund, a quasi-private equity LLC entity I established in Jan 2015. For those wishing to make a charitable contribution, or those with a tax-exempt "sove…
@David_Snowball
Whoa, easy does it, pardner. It is one thing to talk/write about a new fund as having outstanding prospects. It is quite another thing to suggest it is a sure thing, can't miss, definite buy, before it has a single day of performance…
@davidrmoran Excellent article. When the Boston Globe gives their reporters a little extra time, they usually get a good result. Kudos to Michael Kranish for a job well done.
Re. William Lazonick and the article he wrote in the HBR, I posted this t…
"The Fund is expected to utilize leverage in an attempt to match the expected risk profile of each individual strategy to a targeted level. "
"The advisor may also engage in this strategy [L/S equity] through futures, forwards, or swaps."
"Absolute…
@Old_Joe If you're looking for some summertime beach reading, I heartily recommend an unauthorized biography published several years ago about Gina Rhinehart's life (it took me a year to get it; every reprint/edition immediately sold out). A grand r…
@scott Yellen? Who cares what she has to say? I'm much more interested in what Gina has to say, following (yet another) court defeat to her children re. inheritance and trustee issues!
http://thenewdaily.com.au/news/2015/05/28/rinehart-loses-contro…
The NASDAQ biotechnology index lost almost two-thirds of its value in the two years ended Sept. 30, 2002, according to data compiled by Bloomberg. The index currently trades at a price-to-earnings multiple of 86 compared with 19 for the S&P 500.
@scott Agree. Not one of his better efforts, rather pedestrian. But at least there are some data there, which suggest in a general broad-stroke way that there is probably far less to worry about re. rising interest rates than the financial media ma…
