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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
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…
Hard times lately for our hero Bruce Berkowitz ...
massive drawdowns and substantial under-performance these past 12 months for all his funds:
Flagship FAIRX is in fact an MFO Three Alarm fund, which means bottom quintile absolute return in i…
Some other notables with steep monthly pullbacks:
Dodge & Cox International Stock (DODFX): -9.4% ... on top of -4.8 in Dec and -1.6 in Nov.
T Rowe Price Growth Stock (PRGFX): -9.1
Oakmark International I (OAKIX): -9.0
Fidelity Growth Company (F…
ZIRP certainly seems to have distorted the investment landscape.
Thanks MJG as always for your good insight.
This past year I've taken a buy-and-hold approach with my personal investments.
Invest in companies you want to own forever, ideally, rig…
One thing that always strikes me about FAIRX is the increase in volatility between its first decade and its second. Just look at the standard and downside deviations (STDEV and DSDEV) and Ulcer Indices across the last two full cycles (denoted Cycle…
If you were lucky enough to invest with BB since FAIRX inception, congratulations ... you've received 10.1% per year for the past 16 years! (Through December 2015 anyway.) But the past 5 years, at least, must be testing everyone's patience. FAIRX is…
Here are risk/return metrics across various time frames since the fund's inception from MFO's Risk Profile tool:
SMVLX is a dual MFO Great Owl and Honor Roll fund, at least through December 2015.
Here is link to David's Positive Profile of t…
I think that is a wise move since the leadership at AQR Funds is simply not supportive of individual investors. A shareholder unfriendly shop actually, and it should never have offered shares on retail market.
Below are some 2015 risk/return metrics for the M* winners.
The loaded American fund ANWPX is probably my only real disappointment, but I feel that way about all loaded funds ... especially American's since they have highest number of share classes…
Our colleague Sam Lee profiled beautifully these two young AQR alternative funds last September:
http://www.mutualfundobserver.com/2015/09/aqr-style-premia-alternative-i-qspix-aqr-style-premia-alternative-lv-i-qslix-september-2015/
Here are their …
