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 don't have a NY Times subscription myself.
I can usually read NY Times articles using the following process.
Google the exact title - "A Lost Manuscript Shows the Fire Barack Obama Couldn’t Reveal on the Campaign Trail" in this case.
Navigate thro…
"So what do folks think...annuitize a portion of your nest egg to act as a "defacto" pension for those without one? If so, what type of annuity...inflation protected, length, simple etc?"
Annuitizing a portion of my portfolio sounds appealing in th…
@Ben,
Was the word "this" highlighted in the second sentence?
Edit/Add: There was an embedded link associated with "this". The link was removed and then added to "Link".
This was a good episode.
At the start of 2022, approx. two-thirds of the PRWCX fixed income portfolio was in short-duration bank loans.
This positioning really helped fund performance - especially on the fixed income side.
Historically, Mr. Giroux …
I don't have any personal experience with Firstrade.
Firstrade offers Admiral shares for Vanguard active funds (VWIAX, VWENX, VEIRX, VWNEX, VWILX, etc).
I'm not aware of any other brokerages except Vanguard where an investor can purchase Admiral sha…
My portfolio is tracked via M* Portfolio Manager.
I often check daily performance.
There is no really good reason for this since I don't trade too often.
"These were not a good investment starting in 2003 or so until inflation showed up in 2021."
I guess it depends on one's perspective.
I consider I Bonds to just be a cash substitute.
The 1.9% safe withdrawal rate (SWR) referenced in the article is much lower than some others suggest.
M* suggested a 3.3% SWR for a 50% stock/50% bond portfolio.
Bill Bengen believes retirees can safely withdraw 4%-plus from their portfolios
unless…
I remember Ken Heebner back in his heyday.
He was quite the gunslinger!
IIRC, CGMFX short-term performance was frequently either near the top or bottom of its category.
Also, I was invested in a Mutual Series fund (Beacon?) in the mid 90s when Micha…
Ken Heebner has managed CGM Realty Fund (CGMRX) since its inception in 1994 and CGM Focus Fund (CGMFX) since its 1997 inception. Both funds have above-average/high expense ratios and above-average/high risk according to M* (CGMRX may be miscategoriz…
This has been an extremely challenging year for the traditional 60/40 portfolio.
It's very rare for stocks and high-quality bonds to both be down for two or more consecutive quarters.
From Ben Carlson:
"The 6 month returns for a 60/40 portfolio wer…
"Anyone care to comment on AKREX (-29% YTD) or TMSRX (-5.5% YTD) ? Seems to me they were 'fan favorites', kind of crickets lately, anyone still holding? Talk amongst yourselves."
"Anyone care to comment that Hussy, HSGFX is in fact AHEAD of PRWCX f…
The X shares are available exclusively via eligible defined contribution plans.
Go to the Dodge & Cox "funds at a glance" web page and click on the drop-down arrow for share classes.
The following info is listed for X shares: Class X (Defined Co…
If the Nasdaq Composite and Russell 2000 close below June lows in the near future,
what does that portend for markets and what is the reasoning behind this?
I haven't investigated the tax ramifications of selling Treasuries in the secondary market.
Except for I Bonds which I've been purchasing for years, I've started buying Treasuries
(13-week / 26-week T-Bills) only recently in May. I buy at auction an…
"Most recently, Dodge & Cox moved to keep its funds attractive from a pricing standpoint.
It has long targeted cheapest-quartile expense ratios for its single, no-commission share class - a boon for retail investors. Over time, however, the fee …
U.K. Chancellor Kwasi Kwarteng’s mini-budget was ill-received.
Consequently, the pound sterling fell sharply to a 37-year low against the US dollar.
The Bank of England was concerned the situation threatened the financial health
of Britain's largest…
VPCCX has been closed to most new investors for a while.
Vanguard Flagship/PAS customers can open new accounts in VPCCX without any purchase limitations.
Vanguard Flagship customers can open new Primecap (VPMCX) or Capital Opportunity (VHCOX)
accoun…
It seems highly improbable for three pipeline leaks to occur in quick succession.
Taking into account the current situation in Europe, I would suspect sabotage.
To echo what the European security source asked Reuters: Who would profit?
Sobering news indeed...
"For example, the largest U.S. bond fund strategy, the $514.5 billion Vanguard Total Bond Market Index (VBMFX) is down 12.12% through Sept. 13, putting it on track for its worst year since its inception in 1986."
"The Vangu…
Have Stocks Become Cheap?
John Rekenthaler's view:
"Today’s stock prices are nowhere near cheap enough to forestall further losses, should the economic news worsen. If the Federal Reserve is still raising interest rates early into next year, and/o…
"Bonds were so weak today, 9/26/22, that several allocation funds lost MORE than SP500."
You're not kidding.
I just checked about a dozen intermediate core/core plus bond funds which I track via M*.
Thay were down 1.12% to 1.71% today
YTD returns r…
Past performance may be of limited use but I wouldn't say the corresponding info is meaningless.
Analyzing market history can assist investors in setting a range of expectations.
Of course, future investment results are not guaranteed.
Low P/E stock…
I've also heard much of the same.
There seem to be varying cycles where either foreign or domestic stocks outperform.
"The 1970s and 1980s saw Pacifics stocks, led by Japan, annihilate US and European stocks, which also lifted the performance of …
Thanks for sharing the Guardian article!
The near-term outlook for Europe is rather bleak.
China growth has also slowed considerably.
Inflation in many developed nations is higher than that of the U.S.
and their central banks haven't been as aggress…
@Old_Joe,
There definitely are major energy headwinds to contend with.
I have no idea how the energy situation will be resolved, but it will be resolved at some point.
The 30th anniversary for "Black Wednesday" recently occurred.
The collapse in the pound sterling forced Britain to withdraw from the European Exchange Rate Mechanism.
I certainly don't know where the bottom is, but international equities look cheap, especially given the outsized gains of the US dollar. I nibbled at FNDF, even though I doubt international equities will be big winners. Mean reversion is my hope.
Fr…
