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.
”I wonder where the hell they find these financial "journalists". I guess the same place they find the so-called "analysts" who simply follow each other around staying close to consensus "thinking". Maybe they recruit in middle schools!
(Comment …
I don’t think it could have gotten more lopsided than this year. But, then again, I’m always surprised at the irrationality of crowds and the power of herds to move things.
Yes.
It's been rumored that the issue might involve distributing futures trades/positions unequally among privately managed accounts. I haven't been able to verify that so I shot first thinking that I could always buy my holding back if I wanted to.
I th…
From Morningstar today (Excerpt):
”At this point, we know little about the shakeup at Western Asset Management. Leech’s departure comes just a few months after another key leader, John Bellows, abruptly left the firm. Like Leech, Bellows was though…
@Mona- it's usually a good indicator of the value of someone's opinions when they don't know the difference between "effect" and "affect", and can't write a paragraph in reasonably coherent standard English.
I once said something like that too, but…
C’mon FD. I was just trying to summarize Howard Marks’ rather well known approach to investing as he has elaborated on in scores of Oaktree “memos” over the years and also in several books. No intent here to advocate any particular approach or…
Marks is big on buying at a discount and holding long term. That’s his game. “Patience pays”, he would say. That philosophy seems at odds with what most seem to do today which is buy what’s done well recently. His specialty is distressed debt, but…
Thanks @Catch - I agree LQD has done much better over time. But look at the 2022 performance of the 2 funds.
While we can compare performance to other bond funds, I’m mostly interested in how the use of interest rate swaps to hedge rate sensitivit…
I don't see any direct short Treasury positions.
Basically, it holds corporate LQD & tons of rate-swaps plus supporting cash. Duration is very low. So, the overall effect is m-mkt like returns out of intermediate-term bonds overlaid with derivat…
Thanks @Mark. Howard is the only market pundit I pay attention too. Some, I’m afraid, are trying to generate clients, build name recognition or foster trading business for their firms. Others may be trying to boost prices of what they already own…
Hi @catch22 - Mostly I was referring to one of Russ Kennel’s criteria in selecting his Magnificent 36 funds. He excluded funds-of-funds from consideration. Maybe I missed his rationale?
I do recall you demurring on the subject and I think your r…
My oversight. Thanks for the correction.
BTW - What does he have against “funds of funds”? (ISTM some here have also frowned on the concept.) I’d say it depends on how deep and successful the available arsenal of funds is, the history, resources…
I only own one Western Asset managed fund (a CEF). I'll be selling it tomorrow.
I have one too (a CEF). But I’m keeping mine. Was expecting a hit on the news. So far ”Steady Eddie”.
From the NPR article: " NASA has decided to reconfigure things so that this capsule has two seats free and available for Williams and Wilmore to catch a ride home."What the NPR piece didn't mention was that they'll be sending up spare spacesuits sin…
No moves. Just a serious case of whiplash. NSRGY lost over 5.5% yesterday down to $99.50 only to rise 6% today (as of 11:00 AM) to $105.50. My DCA cost was around $103. Nuts is all I can say.
It’s about to get even more interesting. There are numerous media reports that the fella whose brain was once eaten by a worm and who recently confessed to dumping a dead bear in Central Park will drop out and support the orange mop-head. haired c…
Raised my shorts a little higher yesterday and again today before markets turned south (SDS / PSQ).
Looking at this as a longer term hedge. Very small amount - well below 1% of portfolio.
Excellent topic @JD_co
As you realize, PRPFX wasn’t a recommendation. But I was struck by how close that +6.98% was to your hypothetical 7% goal. Like you, I prefer to diversify well beyond a single fund - no matter how good it is. The biggest p…
Would you settle for only 6.98%? That’s the annualized return of PRPFX over 15 years according to M*. If I were going to own just one fund, that would be my choice. Over that 15 year period the fund’s worst year was 2008 when it lost -8.36%. It…
If the popular vote was the true measuring stick for our US Presidential elections, Harris currently has a 3% lead. However, with our wonderful Electoral system being what it is, Donnie still has a shot at avoiding jail time.
This would make a g…
@hank, I would hesitate to call any duration bond fund as a "hedge." It is a volatility damper or ballast, but IMHO only cash or T-bills or a skilled execution of a puts/shorts/options strategy constitutes a true "hedge".
It’s probably age showing. …
+1 Yes. All the pundits (2 different networks) agree with you. For content and human appeal I agree. Touching how she built off her mother’s recent passing into broader themes. Very moving. A highly educated accomplished person in her own right,
…
Watching couple hours of Dem Convention (on Fox News) Tuesday. night. Some powerful speakers. Caught a bit of Duckworth. Strong. And Doug Emhoff was excellent. But Barack Obama stole the show. What an amazing orator. I don’t think I’ve witnessed…
Might be tracking his poll numbers …
Interesting price $21.65 / Paid $23 for a few shares of Flower Foods (FLO) this morning. Somewhat more appetizing.
Gold keeps rising....the typical gold bar (~400 troy ounces x $2,500 spot price) is now worth $1M.
Of course, I keep my bullion stacked in a little fortress formation in the middle of my concrete panic room. ...just kidding
I think it will get …
