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”It’s hard to imagine an investment idea or theme without a related ETF. There are 4,000+ ETFs in the US, 700+ were added just in 2024, and several hundred are pending before the SEC. Note that there are only 2,400 listed stocks in the US (but there…
At Hank. In 1970 I was a substitute teacher in the (not) suburban Detroit schools. $ 37.50 per diem. Food seemed expensive but gas was cheap.
Yep. That’s about what I remember. Hardly worth the pain ISTM. :)
Don’t remember gas prices very we…
I was just starting out in a career in secondary education. My second year into it (1970) I landed a great job in a rapidly growing Detroit suburban system. Being on the second salary tier (based on experience) I earned whopping $7,200 for a year’s…
Yes. The term Stagflation gets tossed around indiscriminately today. While 3-6% inflation (depending who you listen to or believe) is nothing to sneeze at, it is nothing like the double-digit inflation of the late 70s. And there was slow growth in …
The (admittedly deplorable) Bill O’Riley has been insisting the stimulus from the big deficit is intended to prevent the economy from dipping into a major recession before the mid-terms. After that, ”Look out below”. Not intended as political comme…
I don’t get emails from SS. But this is welcome news if only for 3 years. Hate paying tax on the money I contributed to SS in the working years. Unfortunately, I also pay state and federal tax on my state pension.
From what I’ve read, however, thi…
@FD / “It”?
Not sure whether you’re referring to knowing the “news” s day early or maintaining a relatively small speculative position Re the latter - Speculation can be quite profitable. Once you close out a successful spec play the short term p…
Not a dividend player. But have owned LVHI in the past. Franklin seems to do nice job with that. And some international exposure.
“Only game in town”? Crazy talk. Lots of games to fit different types of investors.
@hank, no but people could trade stocks with 5% margin equity then. Pump-&-dump probably comes from that era - buildup excitement to create a rush to buy, then pull the rug to wipeout overleveraged people.
I see!
FWIW - the Meb Faber intervi…
I can believe it.
Nearly all of my investments are for the long to long-long timeframe. For kicks, I keep a sliver available for 'fun' experiments, either market hedging or speculation ... investing can't be *all* boring, you know.... lol
Agree. …
My memory is that a Yugo was indeed propelled off the Mackinaw Bridge in ‘89 by wind after perhaps veering out of control. I happened to be on my way up to the cottage that night and northern Michigan winds, even on the mainland, were horrific. A 3…
”We like to pay cash for new Honda and Toyota every 20 years.”
No quarrel with paying cash. But no desire to drive a car for 20 years either. I love new cars. For years I was piling 20,000 + miles a year on everything with long commutes to work …
Doesn’t the NAV drop just prior to the dividend being paid out and by equal amount? So it shouldn’t make any difference whether your long term gains come from price appreciation, dividend payouts or some combination. In a taxable account you’re lik…
Good thread. I’ve been reluctant to install an AI app on any device used to access financial accounts - or even financial information. What assurance do I have that it will not break into any data / passwords / personal information on the device and…
TBLD is trading at a 6.23% discount to NAV compared to its 52-week average discount of near 10%. It’s less than 5 years old. Close to 70% in equities. The 30% in bonds is mostly junk (BB / lower / unrated). To its credit it managed to lose only aro…
This recent episode of The Meb Faber Show is better than average. Faber’s guests are Rob Arnott, founder and Chairman of the board of Research Affiliates, and Campbell Harvey, Head of Research at Research Affiliates and Professor of Finance at the F…
Somewhat related - I wasn’t happy with the headlights on the last car. Did some research and learned that it had reflector headlights, whereas more expensive cars have projector headlights known to be brighter. New car has projector lights. Better.
…
For me a salad is a complete meal - topped with seafood, grilled chicken or occasionally cheese. So it’s a really big platter. Sometimes stores mark lettuce down substantially (more than 50%) when it nears its expiration date. I like deals lik…
I’ve corrected my prior brief quote from Kubrick’s famous ”2001: A Space Odyssey” and added some contextual information. Wow, for a novel written in 1968 he sure hit the nail on the head.
@gman57 -
Thanks for the examples you cited. No argument. Oil has been on a roller coaster the past couple weeks due to the Mid-East turmoil. Climbed to over $80 in the past week or so, but fell sharply back down to $63 today. That’s close to …
+1
But the Plymouth Fury was a very fine auto for the day. Held the road real well at 80-85 MPH.
Link to new cars under $25,000 today. The Toyota Corolla is one mentioned. I’ve driven them. In no way, shape or form is a Corolla the equivalent of a…
Thanks Catch. I got $23,200 for the ‘70 Plymouth at today’s prices. I do not believe you can buy that nice a car today for that price. Sorry to disagree with your inflation calculator.
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Isn’t that why we invest? To keep up with inflation? My first new car, a ‘70 full sized Plymouth Fury in 1970 cost $2,800. My second new car, a beautiful ‘73 Mercury Montego in ‘73 cost $3,200. I bought a beautiful new F100 pickup in ‘82 for $8,0…
When AI fails (often it seems) it’s nice to know there’s @msf as reliable backup. The real thing indeed!
Boesel is the first one I can recall. But might have dabbled in the fund when Mr. Howard ran it. Sounds like Fontaine’s good judgment (or good…
Thanks@Observant1.
The first manager was highly regarded and ran the fund a long time. I’ll guess 15+ years. Very low-key individual. There was much worry among investors when he retired. My thoughts are that it was a much different fund in the…
I thought it would be entertaining and potentially instructive to go over the list of talented managers who have run PRWCX since inception. While none attained the notoriety of Giroux, all excelled. If memory is correct Giroux came in about 15 year…
As good as Giroux is / has been, I’d personally be uncomfortable with a very large percentage of my portfolio under one man or woman. The fund’s size is astronomical. Not meant as advice. Have to wonder though if he’ll pull a “Peter Lynch” one of …
”I’m sorry Hal. I can’t do that.”
Correct version - Hal: ”I’m sorry Dave. I’m afraid I can’t do that.”
(Excerpted from linked source)
In Stanley Kubrick’s 2001: A Space Odyssey, the HAL 9000 “heuristically programmed algorithmic” computer, a f…
I’ve searched the web and TRP’s site for news of this managerial development. Can’t find anything. This link pulls up their website with manager information. Giroux is listed as sole manager of PRWCX. But obviously there’s a deep team of research…
