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.
Let’s not overlook the fact that ascribing to that vitriolic rhetoric would lead to the inescapable conclusion that we also have an illegitimate Supreme Court. :(
As someone paying management fees to own both funds, I’m the “chump” on this one. No wonder actively managed funds can’t beat the S&P.
@Sven - Agree. Giroux appears to be in a league of his own.
While Dodge and Cox was buying Facebook early in 2020 (see my above post), it appears David Giroux over at TRP was selling it.
From PRWCX’s June 30 Semi Annual Report: “In addition, we have systematically reduced our exposure to COVID-19 winners …
Thanks @msf - That helps too.
In transitioning from paper reports to digital ones I toyed with importing reports onto my Kindle Fire on which I read most periodicals. Didn’t work very well in terms of layout. Than I hit upon loading them (PDF) int…
If you’d to make your physician’s “eyes roll” (and perhaps obtain a momentary glimpse into his / her political leanings) try something like this ...
First, quote the latest dumb remark by DT re Covid-19. Than quickly follow-up with, “He does hav…
Like the Roth IRA , reducing the amount of tax-sheltered money subject to taxation at any given time benefits the investor class while reducing federal revenues. While I prefer not shooting my toes off, it should be noted that taxes aren’t necessar…
Corporate bond weighting.
If I understand correctly (that corporate holdings have increased) that would than infer a corresponding decrease in the fund’s sovereign debt holdings?
I’ve had this one nearly since its 2013 inception. After two mediocre (but positive) years it managed to lose 6.2% in 2015. So, the relationship got off to a rocky start (which should also inject a note of caution). As you are likely aware, the …
A man said to the universe:
“Sir, I exist!”
“However,” replied the universe,
“The fact has not created in me
A sense of obligation.”
An inflated sense of self importance, stemming perhaps from the title “Congressman.” No match it seems for th…
Maybe this is it?
“If the facts are against you, argue the law. If the law is against you, argue the facts. If the law and the facts are against you, pound the table and yell like hell”
“We also started seven new positions in the equity portfolio. These can be divided into two principal groups: 1) high-quality businesses with valuations we had previously deemed to be too high, and 2) COVID-cyclical companies with stock prices that …
“The difficulty in finding value in bonds helps explain poor absolute performance of balanced funds, but it doesn't help explain relatively poor performance. All of OAKBX's peers face this same problem.”
Yes and No. Not all bonds are equal. I’m aw…
Laziness is not a virtue. :) - I’ve now taken the effort to Google the referenced column (November 2020 Mutual Fund Observer). I think in fairness to Ed I should post his exact words:
“ When I left Harris Associates in January of 2012, the Oakma…
Side note: what happened to Oakmark?
I can only speak to OAKBX which I owned for a decade or longer before bailing late in 2018. As to “EdStud” (referenced above), Ed Studzinski did address the dire situation at his old fund (OAKBX) in a recent MFO…
Wall Street’s 3 Most Hated Stocks
It’s no secret that “hedgies” and “sophisticated” investors have been shorting Tesla for several years. You’d think they’d have lost their britches by now.
For all we know that his untreated syphilis is affecting his mental health just like Al Capone.
Problem here - That would suggest that Mitch McConnell and 90% of the republican leadership also suffer from syphilis. They are complicit in this attem…
A great device, but its size and body cause it to be slippery to hold; especially when taking pics.
Have you found a carrier that will let one have a firm grip for the IPAD?
I have a lot of trouble “keeping a firm grip on things” in general ... …
All so sad. When is enough enough? I'm hearing now of (and somewhat expecting) his coming issuance of something termed a "preemptive pardon" immunizing him, Rudy and family members from prosecution for any and all crimes any of them may have com…
Thanks @bee I’m locked-out of this one as I read Bloomberg several times daily (for market data) and it’s all too easy to exceed their cap on free access to stories. But, it’s an intriguing question nonetheless. Sure I remember them.
In around 19…
I certainly hope you’re right. Yes - my argument above is rambling and unfocused as I’m trying to look at the arguments in the thread (in their entirety) from an entirely different perspective. Tired of the brickbats that have been flying back and…
It’s a shame so much of our political posturing and decision making in this country is based to a large degree on personality and ideological caricatures distalized (often inaccurately) by what passes for the press. That’s mostly the fault, I think…
Thanks @Sven.
Actually, my issue was Wednesday when they should have been running as usual. From the first attempt around 10 AM until I gave up trying around 2 PM I wasn’t able to login. Also called once and was put on a 10-15 minute hold by their …
Yes - Agree, Yellen’s a good pick. Plus, Biden shouldn’t have any trouble finding help.
List of Trump Administration officials who quit or were fired.
Looking forward to a more docile period in the nation’s capitol.
It’s a fascinating bit of news. I haven’t a clue. I know from my Oppenheimer years that some of their mutual funds were managed by “subsidiaries” - often in the Cayman Islands. A fee was paid by the fund to the subsidiary for managing the fund. I …
Thanks @Sven for the story. I always enjoy these hyperbolic headlines. Crash is too strong a word if you compare the price of spot gold now with one year ago. But it is such a volatile market you probably can argue in either direction based on the …
The M* link essentially echos Price’s point of view, quoting management extensively. Expect there will be some better critical analysis from various sources soon.
The only question that pops into my mind (as a direct investor) is what happens if I…
“Having two strong, yet separate, research platforms will enable us to continue delivering excellent investment performance for our clients.”
I guess they wish to compete against themselves.
Re - The vaccine is here,
This woman will be gratified to hear that.
Texas woman looses 6 relatives, including parents, to Covid
Quoting Jerome Powell today: “Widespread vaccination is still months into the future.”
PS - Speaking of Texas, w…
I attended “investment school” only sporadically between 21 and my mid-40s. Getting burned by the bear market in gold post-1980 taught me a lot as I watched the coins I’d bought at the heights of the euphoria steadily loose value while bullion fel…
Thanks Derf - Found it:
“Assuming the S&P doesn’t erase its year-to-date gain — which it certainly could — 2020 is on track to become another powerful data point in the market history books, which are riddled with examples of price moves in con…
Here’s what come up at Yahoo: “Hmmm... the page you're looking for isn't here. Try searching” above.
From the title, it sounds like somebody’s trying to draw some broad conclusions from the year about to end. Maybe they’re going to suggest that “b…
“There will be riots if these jokers continue to push this lie ...”
Yep - I believe that’s what he wants. An excuse to send in well armed Marines to “restore order.” As far as Trump / Biden “supporters”, Mr. Putin, or anyone else, would have no tro…
Yes. And the question would seem to be why with only 10 weeks left in his administration would he replace so many high ranking experienced professionals with a group of inexperienced (likely unvetted) individuals?
- (Just) a childish temper tantru…
Thanks for taking a look @Mark. The photo is a “cheat” - as it’s a MS 70 “proof“ coin specially minted for collectors (to celebrate 50 years of K-Rands) in 2017. Same gold content and overall design - but minted using higher relief dies to give …
