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.
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Charles
Thank you sma3! We are spending this summer in northwest again. I have no quiet place I can be before noon eastern (9 am here). Library opens at 9am! I've set up a session for Friday, 2 pm eastern ... posted on board. But, if that does not work, just call me at 805 468 9599 ... if I can pick up I will. Hopefully, can pick a day where you can attended from noon on. Very happy to do! c
I do find it a bit unsettling that after so many companies have replaced their Defined Benefits Retirement Plans with Whatever Market Brings Plans, expected 10 year real returns on equities and fixed income assets are zero.
@expatsp. I'll echo PRESSmUP regarding FNMA decision. And, Sears Holdings/Seritage, BAC, AIG. BB has not talked much about the Valeant stake ... appeared to buy late last year. Cheer you up? Hmmm. FAAFX up 3.9% for year. Not bad. (Let's not mention …
I started following Synchrony Financial SYF recently.
Had to sell OAK back in Feb/March with roll-over of my 401. Left proceeds in cash.
Sold HCP this week with departure of Lauralee E. Martin. I've basically owned the stock her entire tenure. Lef…
@dryflower.
Hi again.
Thought I'd share this from a response I just posted to teapot:
On the premium site, you have 21 selectable evaluation periods (lifetime, 20, 10, 5, 3, and 1 year, plus full, down, and up market cycles) for all risk and perfo…
@teapot.
1) Does every category use the same top % as Owl fund threshold line?
If I understand your question, yes. MFO return ratings are relative to peers, so done for each category. MFO risk ratings are relative to overall US market (SP500). Here …
@teapot.
Ha! You and lots of other investors in commodities and EM these last few years.
GO distinctions are based on a fund's relative risk-adjusted return within category. So, the category can perform badly, like commodities and EM have done las…
@Junkster.
Doesn't sound like end of the world stuff to me.
Sometimes I think that when The Herd is telling us that Expected Returns on XXX are zero for foreseeable future, it's time to invest in XXX.
Hope all is well.
c
Hmmm.
Just to show my ignorance ... let me speculate a bit.
If you are a global investor of debt, like Dr. Hasenstab, I suspect he's relaying how expensive US Treasuries are relative to rest of world because of the strength of US dollar.
c
“Forecasting is the art of saying what will happen, and then explaining why it didn’t”. The data show that market forecasters are well practiced at that art.
Love it.
Thank you MJG.
I fear Brexit is another example of "scorched-earth" politics, b…
Thanks Ted. Really good post by our friend Dr. Wesley Gray. Sure hope he's right!
Originally on Alpha Architect site ...
http://blog.alphaarchitect.com/2016/06/01/want-to-spot-a-real-value-investor-look-for-horrible-recent-performance/#gs.TUuAuxE
…
OK, just added links in commentary to the profiles. Sorry about that ... thanks for catch AMatMFO.
Also, all profiles can always be found on Funds page.
c
Hmmm. They should be linked to David's latest profiles ...
An update of ARIVX from 2012 profile here,
and a new profile for TILDX here. (Actually, I believe this too is an update from 2011, but I think just before MFO's official launch. I'm getti…
@msf.
Hmmm...
Maybe it's one step forward and half a step back?
In mean time, I'll keep telling myself that the best deals are those where all parties feel they have benefited.
c
Value investors generally have had a tough go the past couple years.
Here's good post by the folks at AlphaArchitect ...
Update on the Valuation Metric Horserace: 2011-2015
and even better ...
Has the Value Investing Pain Train Ended?
c
I believe every rally is THE rally and play it as such. That way I never miss out when it actually is THE rally. How much I lose on the times it is not THE rally and how much I make when it is THE rally is all about my trade management.
Good stuff J…
My pleasure willmat72.
VBINX is a so-called "Reference Fund" in the MFO Ratings system, thanks to David.
A sort of bench mark fund of which we should all be cognizant.
And, thanks to shipwreckedandalone and many of contributors to this thread, we…
Good stuff! Thanks Ted.
Loss aversion tells us that losses hurt twice as much as gains feel good. Myopia deals with the fact that people have a tendency to evaluate outcomes on a frequent basis. Put them together and these two behavioral biases can…
Lipper puts VBINX in the Growth Allocation category. There are 113 such funds in its database ending January 2016, at least 10 years old, oldest share class only, open and closed.
VBINX stacks up pretty well. Here is list from top, sorted by 10 yea…
@rono.
You mean Elizabeth Warren?
I think she is one of most capable senators we have.
Honestly, she is probably the most capable presidential candidate, who has chosen not to run.
Maybe say bye-bye to big oil dividends, at least for a while.
Time to release the lifeboats if OXY dividend retreats.
Fingers-very-crossed that does not happen!
@Junkster.
Would it be from the fear of who is elected President later this year?
The market does seem to be inversely correlated to Bernie Sanders' standing in national polls.
Off topic: I'll probably be voted off the island for writing this, but…
@PRESSmUP...
Yes, I remember when BB discussed possibly having to close FAIRX when it hit $25B. I believe FAIRX exceeded $20B after BB was given Fund Manager of Decade recognition by M*.
@Lawlar...
Yes, I know.
Here, adding to Junkster's comments today about market seemingly headed to bear territory, as of month ending January, many U.S. Equity sectors are already down 20% or more. See the MAXDD numbers in past year performance da…
