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It appears that I could buy PRCFX through my Schwab account now, if I wanted to. I can't confirm without placing the trade which I'm not motivated to do, though others might.
I'm trying to respect a sort of news embargo but I think it's fair to say that our December issue will have several Launch Alerts for interesting new funds and ETFs.
I'll share a bit more about these funds in the December issue but the short version is that they were cheap, are getting cheaper, and held consistently solid though modest advantages over their peers in returns and volatility across time.
I do wonder, a propos Mark's point, about the effects of the chasm that now separates America's corporate elite from ... you know, lesser beings. In 2021, post-pandemic, the median CEO salary topped $20 million, up nearly 2000% since '78 and about 2…
Hmmm ... none of it is particularly good. Via, from Starbucks, comes in several roasts and is a combination of microgrounds plus instant coffee. The idea is that the microgrounds create a coffee "feel" in your mouth.
I know hikers who swear by Moun…
Excellent question!
I just dropped a note to some of the media & marketing folks at TRP. (Oddly, the mail bounced from one of the accounts, so Ed might have moved on.) I'll let you know if / when I hear back from Bill.
We could ask for details. That was before Steve Leuthold retired and the system got ... tweaked.
If you work through a brokerage, the minimum is often $100. That's my recollection of Scottrade / TD Ameritrade / Schwab - one morphing into the other.
I've written to GMO twice, about this and about the research on their seven-year asset class projections. In The Great Distortion, they appear to have been off by, say, 180 degrees on the order of their asset class projections.
No response so far, …
David is a smart guy, for sure. Part of his charm is that his intellect is wide-ranging and restless, so he shares stuff that you would never normally encounter.
(nods) It is a worry.
As the climate destabilizes, by definition heretofore extreme events become more common. I live near Lock and Dam 15 on the Mississippi River where this spring saw the second-highest floor peak in recorded history and this fal…
For what interest it holds, I poked the folks at DGI and their director of business development promised to reach out to folks affected by their transition.
Hi, DS.
As I suspected, the team is unlikely to remain with the firm though it's not inconceivable that one of the individual members might. The key is that their specialty, investment grade, is not a focus of the other Osterweis funds.
David
I'll ask one of the folks there. Mr. K. didn't volunteer that. Since the OSTRX team are investment grade specialists and most of Osterweis relies on high yield ...
I'll check.
Good question. I had a nice talk with Carl Kaufman, their CIO and co- CEO today. They're celebrating their 40th year in business and have been thinking a bit about what it will take to have 40 more. Some of the recent moves might be tied to that ref…
VY means that it's offered through a Voya retirement plan. It would open and close in rhythm with the main share class of the fund. Price would not offer access to Voya investors that it denied its own.
Hi, BaluBalu.
I own two because they have broad discretion of where to invest, similar philosophies ("make decent returns but don't lose Snowball's money") but different strategies (absolute value fundamental vs relative value quant).
To be clear…
Up 4.07% YTD. Outflows seem modest but continuous, leaving assets around $750 million. It looks like $900 million is the red zone for David when it comes to closing the fund.
My favorite car is whichever I'm driving currently (a 2018 Camry, bought used, as it turns out) but my favorite over the course of decades was my 1990 Honda Accord Wagon. It was my first (and only) new car, it carried everything, was efficient, reli…
Hi, guys.
On my EM investments, I'd simple. I have a plan, I stick with it. My average holding time for funds is some combination of "15 years or since inception." I sold my MACSX position mostly because the stock/bond and domestic/international ba…
I suspect the best way to crash crossover SUV sales would be disclose their shameful secret: they're actually station wagons.
Bloomberg, by the way, declared "Station wagons are back to cure SUV fatigue." (In 2017)
Jason waved. I did not pry about his book topic (investing, do you think?) and he didn't volunteer. He did say that he's on a book leave through the end of the year, and will be back in 2024.
Given the ... hmmm, "turmoil" sounds negative ... re-inv…
We can hope that Charles will weigh in here, since he knew the folks at Zeo better than most. My observation is that Zeo had a promising start and that Venk was a passionate advocate for it. Things turned south when his co-manager (Brad, I think) le…
I agree. Part of the "lost nuance" that I sort of referred to in the original post were two points that I kept making and that seemed too wordy: "in general, it's not even worth the effort" and "your results may vary (from adviser to adviser)."
Just in case you think I made it up, "Sand mining is a huge problem, new global survey shows" (9/5/2023)
That vis-a-vis my modestly cheerful story on concrete this month.
Charles's take, if I recall correctly, is that Zeo suffered a nearly irreparable loss when Venk lost his co-manager / analysis who headed back home to Canada.
'[W]e received word from the Indian regulator (SEBI) that they were going to require us to re-register the Funds in India (which takes 2-3 months in India) .. no other country required such), but it’s the way the SEBI regulation is written. So ..."
I talked with Eric. It's the weirdest thing.
The entire holdup is that they are being forced to re-register in India. All of the US stuff is complete and set but the reorganization can't go forward until they finished the paperwork for the good fol…
Here's the timeline, so far as I can reconstruct it from the SEC record. Chip will tweak the article to clean up the 2009/2010 confusion.
On November 10, 1988, Fasciano Fund launches.
On March 23, 2001, the Neuberger Berman Fasciano Fund acquired …
Or "Lynn's Vanguard article," just to separate him from The Other Charles (Boccadoro).
Charles Lynn Bolin writes here as "Lynn," and as "Charles" elsewhere.
I was groggy. I'll fix the dates at the end. Aston/Fasciano (which became AMG Aston Fasciano was in operation for about 12 months. MF was underwriting operations to the tune of about 150K per year and didn't see that changing within a reasonable tim…
Thanks for your good thoughts, I've shared them with Chip. She's mostly up and about now, but gets fatigued a bit more easily than she's used to. That said, we're pretty confident that we'll be live Saturday.
I'm using the extra time to play a bit …
There will! Scotland's parting gift to us was a bout of COVID which has laid Chip, particularly, low. She's still down 20 hours a day. As soon as health returns: Devesh shares interviews with three fund managers (including Scott Barbee), I do the ru…
There's a limit to what the guys are allowed to talk about just now. I did ask about two things that I thought were permissible. First was why they delayed in 2017 and the second was why the fund is flagged as closed to new investors.
A1: The post…