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.
@ BobC Ditto; and I'm using the same criteria as you are to make selections of The Unconstrained, and doing so cautiously, really scrutinizing everything with more rigor than I usually do.
Regarding "measurement," may I ask:
(1) where are you putti…
Well, miracles do happen.... or you must have slammed a helluva heckava 6-figure amount into this fund and received the consequential red carpet VIP treatment. Come to Jesus, and go ye forth and multiply!
@hank Agree; if you were to use a bad single position as a deal-breaker, then you would either (1) never invest in a stock MF, or not for very long, or (2) more often than not be unsatisfied with most of your stock MF investments, and carry around …
@hank Yeah, I don't know where Oakmark's managers heads are at lately. Just went thru the hldgs refresh and commentary for OAKGX, and their new-found treasure is.... Citigroup! Just waxed on and on about it, good business model, fully recovered fro…
@VintageFreak "Serves me right for trolling M*"
Perhaps, but I guess the self-reflection would suggest that maybe, just maybe, you were a bit more amped up and irritated about the Calamos debacle (and rightly so) than you were consciously acknowl…
One or more of the industrials that make War Toys?
http://www.theepochtimes.com/n3/682973-chinese-military-said-to-be-massing-near-the-vietnam-border/?photo=5
Why yes, since you asked, I am still buying HY, since I'm a 3/4 glass full kind of guy. Just the other day, I made a ginormous commitment to Bryan Krug's new Artisan fund, slamming in $500 as my initial position and establishing a very aggressive AI…
@davidrmoran Forgot to mention how much I enjoyed your posting last week of the party pic from the D&C annual mtg. That gal looked like she underestimated just how taxing her first wk as head of the D&C trading desk would be (or perhaps she…
@WallStreetRanter re. derivatives.
Oh, thanks alot; so much for last week's effort to re-normalize my sleep cycle! :) But, yeah, you're right. OTC + unseen rehypothecation .... still unresolved, the huge Known Unknown. It could significantly alter…
@rjb112 You actually were able to speak with someone on the fund's investment team? OMG, I am so not worthy!! You are hereby designated MFO PhoneMaster, the #1 teleschmoozer who henceforth will be called upon to ferret into the bowels of asset man…
@WallStreetRanter: As they say, Haters gonna hate. :)
Continue to suppress, central banksters, continue your race to the bottom.
Getting sweeter-er for bond love.
@cman: it was an auction of internal conflict; my model ("proprietary," of course) told me I should want the train, while at the same time told me I needed the bourbon. This made price discovery problematic. Perhaps it worked out for the best. :)
@…
@catch22: now why would someone, who just day's ago claimed to be batting 100% on interest rate predictions, need to ask me that? :)
Today's good bop-up in 10Y, continuing the (long-awaited by me) trend--- isn't that what you expected (despite all t…
It was heartbreaking, at the top of the bidding, when they didn't see the bidding card I was waving for 34 M, and the gavel came down. It felt like a big bond position being called away from me. As with any asset class, it would have been better to …
Yes, isn't it comforting (and--c'mon, admit it-- just a tad sweet) when one's instincts are validated, after a multi-month wait, and ya know your mojo sensors still work?
@fundalarm: "....considering today's positive PPI surprise." Positive? (s…
Well, if any MRO reader is considering giving the spouse (or significant other) a good beating, now would be a good time to do it (preferably after the precedent of them upsiding your head with a cast iron skillet, 'cause they "don't like your tone.…
I think that another of AMG's "strategic partners" is Aston Asset Management, which of course has a number of subadvisory relationships with River Road Asset Management. Interesting, since controlling owners conventionally take a profit share from t…
Considering what it's claiming to do for ya, it's current dvd yield is quite low (directly attributable to what Derf notes!) Additionally, over the past 2 decades LM's corporate culture has evolved to the point where IMO it leaves a lot to be desire…
Well, I think we all realize that if there is one important space in the mix we have yet to fill with a satisfying pick then dis is it. And that makes us needy, and that can lead to reading more into the numbers than is warranted. Hope is not an inv…
No, not since 1999-2000. :)
But some "health" funds have larded up with many of these hopey story (no revenue, heavily-indebted) biotech stocks, so.... assume nothing.... history may once again rhyme.
Yeah, I've noticed that, too. It's typically around 2-4% of assets (though I've seen it as high as 10% in some low duration funds). I wonder if they're using the allocation as a substitute for ST/short duration bonds, to give a slight goose to their…
FYI, at the time of my post, your post was "yet to be made visible." That was the night of the cloud problems, remember (as noted by others)?
Sort of like......mmmmm...... tonight. Wonder if this cloud hosting thing-y is gonna cut it?
Never waste a single second of time reading a WSJ stenographer's shallow synopsis, when you can go directly to the source for so much more (useful):
http://www.gmo.com/America/
Well, I am willing to grant you a 5-day extension; but if the grand opus is not in my drop box by Monday noon--- in fairness to the other students who did manage to submit their work by the self-imposed deadline (ya know... all 25% of them)--- then …
Take a pass, Charles, just walk away. For now, these TBTF banks are corrupt, criminal enterprises. Maybe consider a return once FASB Rule 157 is rescinded.
http://www.reuters.com/article/2014/04/29/us-column-markets-saft-idUSBREA3S0GD20140429?feedT…
Methinks that Toto is once again pulling on the curtain's skirt here. Given their selections were made using a "Premium tool," is this not an exemplar of the principle that what you often use becomes, more or less, a part of who you are? :)
@cman: I don't doubt that what you write may be true, in at least some cases; it would make sense that a large MF co. would want something in return for putting client skin in the game. However, if true, where have you ever seen this acknowledged in…
Merely coincidental I'm sure, following Friday's interview with something there there, without fanfare or so much as a formal howdy-do, the "constraints" are removed--- today, the Doubleline Flexible Income fund was quietly (finally) born.
http://…
