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@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.
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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…
Reporting from a very hot weather Michigan …
Drove up to the island for a couple hours today. Nice there. But the car’s outside thermometer was recording 99 degrees at 6 PM driving home thru Indian River. Hottest I can ever remember seeing anywher…
I'm sure he'll still find some way to blame Biden for anything bad that happens in response, though ....
Sunday’s 8:00 AM briefing would seem to bear that out. “Blame game”. Not sure how to play this. Might do some buying on a big dip. Looks m…
A quick look - MCI lost about 30% in ‘08, but only 6% in ‘22. Looks like they’re doing something right. Not only is it priced at a large premium to NAV, but that premium is significantly above its 52-week average according to CEF Connect. Some f…
RSF - Fund Facts from Rivernorth
When in doubt go to the source. Click on Portfolio to pull up Rivernorth’s description of what the fund owns. Obviously Morningstar and Nuveen are characterizing as “stocks” what Rivernorth considers “debt instrum…
”What a screwed up species we are”.
Wow. That’s right out of Twain. The Damned Human Race (1905)
A few excerpts:
I have been studying the traits and dispositions of the “lower animals” (so-called), and contrasting them with the traits and disposi…
Fed member Waller (a liberal on monetary policy) suggested they might cut short term rates at the next meeting in a speech or interview today. Markets danced a little. But the longer end of the rate curve isn’t too excited.
Part of my risk reducti…
Mutual Assured Destruction: ”The threat of Mutual Assured Destruction (MAD) created fear (during the Cold War). This theory assumed that each superpower had enough nuclear weaponry to destroy the other. If one superpower attempted a first strike on …
