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.
I thought the whole idea of investing in actively-managed bond funds was due to the demonstrable effect good portfolio management can have on performance. If that is still the case, then I do not understand why the accuracy of past performance numbe…
@ron Do you believe in the asset bloat effect? If so, then why MWTRX? You know it's just a matter of "when" now.
http://www.mutualfundobserver.com/discuss/discussion/27382/mwtrx-the-next-brokeback-mtn-fund-asset-fee-flow-ah-wish-ah-could-quit-yew#la…
re. JPM Core Bond and @Ace concern:
Swanson’s announcement in September that he was taking a leave was the first public sign of tension in the Columbus operations. It followed the departure of three members of his team for outside opportunities or o…
"Have got"? I am not familiar with this conjugative form. Is this conventional now? It used to be "have gotten." And I suppose, if it is you (plural), then it should now be YOUs GOTS/YOUs HAVE GOTS, or..... geesh.....
Hey, @MJG
Don't fret the huge knowledge holes. After all, remember the Old Saw:
It ain't what you don't know that can hurt you the most; it's what you know for sure that just ain't so!
... or something like that. :)
http://www.salon.com/2016/05/19/it_is_happening_again_david_dayen_on_the_epidemic_of_mortgage_fraud_and_the_rigged_economy_that_sets_it_in_motion/
Are we safe from it happening again?
It is happening again. Every day in America people get kicked ou…
BSBSX might be another one to consider.
@ep1 Here's a "play sheet". Have fun with the compare and contrast, as you click on the tabs for various investment intervals:
https://www.fidelity.com/fund-screener/compare.shtml#!&fIds=BSBSX,PRWBX,D…
Yes, Professor, I think you need to take part of the summer off, to get current with the literature, so to speak:
http://jessefelder.tumblr.com/post/144909172435/dear-prof-siegel-ayfkm
Also, things have gotten to the point, IMO, where it is difficult to accurately take a measure of CEF valuations in the fixed income categories, as mentioned here:
http://fmdcapital.com/no-formula-cef-overvaluation/
Last sentence of the IBD article…
Yes, very good numbers. However, (1) affiliated with JP Morgan; sorry, not an institution/culture I wish to support, and (2) at $4.6B, moving into territory that has usually (but not always) proven to be the kiss of death for SCV funds, with respect…
It's not looking so good for farmland; some similarities to the picture of the mid-1980s, when a lot of family farms got overextended and were crushed and lost everything. But not that dire (yet), so I don't anticipate that much calamity. It's just …
@catch22 Actually--- and I don't want to make you paranoid about this--- you might want to do a search of that phone number you called, just to make sure it was someone at the IRS to whom you spoke, i.e. that it was in fact an IRS number. Why do I …
@Maurice
(1) Isn't there some way of turning the No-Script plug-in off for websites you would designate as "Safe"? I'm also not familiar with this add-on (but would be interested in learning more).
(2) All my checkers tell me it is as chip says it …
@Charles Cool, indeed. The world is changing on us, Charles, rapidly changing, and we're getting so accustomed to it that an offering such as this seems almost part of a natural progression. Far from it!
The Q&A doc on the new fund's home page …
Oh, man, I'm so sorry. In-person, most definitely, if you can, with IDs, SS card, W2s, and a copy of your filing. I suspect someone may have gotten enough of your numbers to be able to file early, electronically-- as you-- and some mindless computer…
@bee PTIAX does not contain any HY munis; some are tax-exempt, some are taxable, but based on AndyJ's investigative work (as of Feb1 call) none are anything but IG. I think you just forgot, or missed it--- you were on the thread:
http://www.mutualfu…
This must have something to do with large institutional investor preference, with something non-fundamental? The much junkier JNK has only had $253M redeemed.
http://www.bloomberg.com/news/articles/2016-05-05/biggest-junk-bond-etf-jolted-by-massive-…
Similar to some of the comments he made in an interview with a Swiss paper several weeks ago:
http://www.fuw.ch/article/negative-interest-rates-are-the-dumbest-idea-ever/
http://fpafunds.com/docs/fund-announcements/2015-11-16-sor_press-release-final.pdf?sfvrsn=4
@BenWP Yup, graph out 1-yr returns and it kinda slaps ya in the face, doesn't it? Shades of FPA Perennial. Just a month respite, after butchering their shar…
@kevindow You might want to check this one out; MLPs are kind of Simon Lack's thing:
http://www.sl-advisors.com/wrong-mlp-fund/
For those who follow MLPs closely, one of the enduring mysteries must be the mindset of investors in the Alerian MLP ETF…
@hank Ummm, multi-polar? :)
@rforno I really hope that isn't the future, but no tellin' --- new Chief, so maybe many more new "visions" coming:
http://blogs.barrons.com/focusonfunds/2016/04/22/t-rowe-expands-quant-fund-offerings/?mod=BOL_hp_blog_fof
@Ted I think you intended to include the word "Declines" after Optimism, did you not?
Perhaps this is where the increasing pessimism declining optimism is coming from:
for the rest of the over-indebted American business world, the outlook may be e…
@DanHardy OK, I got it--- supply of new issue munis increases in the Spring and tends to be a negative on muni prices (thereby possibly presenting a better buying opportunity on the pullback). Also, munis have their own yield curve; and with things…
Well, it would help to have a more current print on asset allocation to better understand what is going on. As of 12/31/15, the equity sleeve was rather concentrated in only 46 holdings (and with $17B in AUM suggests big position and a not-so-nimble…
It is odd to me that Amey Stone would recommend (indirectly, via one of her blog's commenters) CEF munis that are about to be merged into another fund, which after all the fusions will have a different investing mandate. This imminent change is note…
This is actually pretty stunning. I'd bet Russell Kinnel did a double-take, if not a triple, on some of these.
From a Barron's blog note on this report:
Each year, editors at Morningstar pick the best 500 funds from the universe of roughly 8,000 tha…
There is something that happens with municipal bonds in the Spring--- April, May, June--- but I can't remember what it is (and from this you can infer correctly that I have only pedestrian experience with muni's). Is it peak-season for new issuance,…
@bee no, this will be an infrastructure debt fund, not a stock eq. fund. Not comparable but might (might) make for a "nice pairing." :)
@openice Thanks for keeping eye out. DoubleLine did a post-filing amendment to their original SEC application, b…
@willmatt72 Baird funds are available on a NTF basis @ Fidelity. They're a pretty caution bunch and will keep you in a lot of investment-grade stuff, even with their Core Plus Bond fund (BCOSX). They also showed some good defense in 2008-2009.
MWTR…
How did we come to associate the first day of the fourth month of the year with an opportunity to take advantage of the more gullible among us? The short answer is nobody really knows.
http://www.vox.com/2016/4/1/11340608/april-fools-day-pranks-exp…