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.
Investors can also use the old M* site to view other mutual funds associated with a manager. Link
The VGWAX equity manager, Nataliya Kofman, worked alongside Edward Bousa (long-time VWENX manager) on a separately managed account using the same inv…
VGWAX is a good fund which I did previously consider.
However, I have a strong preference for holding separate stock and bond funds.
I also looked at VZICX shortly after it became available.
Wellington is a great investment firm but the VZICX lead …
You're right that growth is out of favor now.
James Anderson will retire on April 30.
Current Baillie Gifford managers Tom Coutts and Lawrence Burns will continue to manage VWILX.
You mentioned VGWEX which I could not find.
Did you mean VHGEX?
Active Share measures how a fund's portfolio differs from a relevant benchmark index.
Higher Active Share scores denote more divergence between the two.
This is fine as far as it goes.
However, the creators of Active Share claimed that it predicted …
@yogibearbull,
Thanks for the James Anderson interview summary.
Mr. Anderson has been very influential at Baillie Gifford.
Funds that he has been involved with have generated excellent long-term returns.
I'm a VWILX ¹ investor and the fund has perf…
Templeton Global Bond (TPINX) was one of the premier funds in the World Bond category years ago.
TPINX was different from most World Bond funds due to substantial emerging markets exposure and widespread currency bets. The fund generated top 1% / to…
@yogibearbull,
I was looking at 5-Yr TIPS from the perspective of the breakeven inflation rate.
Except for the past few weeks, it appears this rate is the highest it's ever been (earliest data - 01/02/2003).
Per your comments, recent monthly CPI-U …
@yogibearbull,
The yield for 5-Yr. TIPS was -0.54% on 04-14-22.
The yield for 5-Yr. Treasuries was 2.79% on 04-14-22.
The corresponding 5-Yr. breakeven inflation rate is 3.33%.
Assuming yields don't change much between now and the auction date,
wou…
"Sunk Costs"
Sell, learn your lesson and move on?
Seriously. Why the hell invest outside of the USA? You can get any exposure you want by selecting certain USA co's to invest in? Example: You want exposure to high tech China...instead you buy M…
How much QT is factored into current bond yields?
QT (Quantative Tightening) -reducing the Fed's Balance Sheet- is a major market overhang issue for the rest of 2022. Tough to estimate the impact thus far to bond pricing.
Exactly!
The Fed has just started raising interest rates.
There will be multiple rates hikes this year and probably next year to suppress inflation.
Also, the Fed will implement Quantative Tightening (QT) to reduce its $9 trillion balance sheet.
It will sell…
I wouldn't sell my equity investments and put the money into I-Bonds.
However, I would do this with my fixed income investments (~30% of portfolio).
My current fixed income holdings are: stable value fund, ultra-short-term bond fund, and multi-secto…
It's not unusual for the Primecap team to experience periods of underperformance.
VPMAX trailed the S&P 500 the past three calendar years.
Their funds have always bounced back.
I'm fairly certain that VPMAX will generate good long-term returns f…
The couple's goals, risk tolerance, and risk capacity must be taken into account.
A consultation with a fee-only planner may be beneficial.
VTCLX is a good tax-managed equity fund.
I also like Yogi's tax-managed balanced fund suggestion - VTMFX.
I I have been looking at non-Vanguard funds available at Vanguard and for the past two days, when I try to get T. Rowe Price funds to populate, I get this message:
"The information you've requested is temporarily unavailable. Please try again late…
I have a 401(k) and a taxable account at Fidelity.
Previously, my Roth IRA was also at Fidelity.
I've received good customer service the relatively few times that I've called them.
Granted, there were several occasions where I was on hold a bit too …
Another question, how will the bond market reacts when Fed starts to reduce the $4T treasury and MBS slowly?
That's a very good question!
I wish I knew the answer...
I don't recall paying any credit card surcharges at local restaurants.
Some local restaurants have implemented mandatory service charges (aka tipping) and not just for large parties.
Like others have mentioned, it's usually a good idea to use credi…
The dreaded Inverted Yield Curve. Lead indicator of a potential recession.
This is often the case.
However, the Fed purchased more than $4T in Treasuries and mortgage-backed securities (MBS) since March 2020. The 10 Yr. Treasury yield has been dist…
Vanguard's website performance deteriorated significantly for me after their site was updated several months ago. If others are experiencing similar issues, it's probably wise that Vanguard chose not to participate in Barron's broker survey ¹.
¹ I…
A CityWire article was posted several hours ago regarding former PM George Jikovski.
You may need to sign in or sign up to read the article in its entirety.
Excerpts below.
"‘After 15 years at Canyon Partners, George Jikovski, partner and manager o…
After I clicked on the link, the article page said I needed to subscribe to read the entire article.
Same here.
I don't subscribe to The Economist but usually read it at the library.
I browsed the River Canyon Funds (RCF) website yesterday evening and noticed that Todd Lemkin was listed as the RCTIX manager. I didn't check the prospectus since it was late.
I wonder what transpired? RCTIX key-man risk was a concern of mine.
I as…
Stating the obvious, these are very challenging times for fixed-income investors.
I've exchanged my largest bond position (DODIX) for a stable value fund late last year.
My other bond funds (VUSFX, RCTIX) are short-duration funds.
I dislike the curr…
I noticed sluggishness the past few days.
Perhaps Vanguard IT personnel recently started working at M* or vice-versa?
Edit: Just checked Portfolio Manager - it's very responsive at this time.
That's all well and good, but I'm seeing a tremendou…
@Sven,
I use X-Ray via M* Investment Research Center ¹ provided by my local library.
I'm able to save X-Ray results and don't have any M* subscriptions.
¹ Also allows free access to FundInvestor, ETFInvestor, StockInvestor, and DividendInvestor ne…
@LewisBraham,
This is an excellent, very informative article.
I seldom read Fortune magazine these days, but don't recall seeing content of this caliber in recent years.
Thanks for posting!
The performance of my portfolio's individual holdings is checked almost daily (for no good reason).
The entire portfolio is "X-Rayed" from 3-5 times per year.
I usually rebalance annually if the stock/bond allocation varies (+/- 5%) from my target …
Mr. Bernstein believes future inflation may be higher than expected.
According to his observations, many portfolios are not properly positioned for this scenario.
Mr. Bernstein is very bullish on "conventional" energy.
VMVFX grabbed my attention in 2019.
The fund generated category-beating 5 Yr trailing returns with considerably less volatility.
The relative performance for VMVFX deteriorated from 2019-2021.
Like most factor funds, minimum volatility funds will pe…
