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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
It's funny how everybody seems to read from same book at times.
Ever wonder how few real thought leaders there are in this industry?
Suspect too the leaders change with time, naturally.
And, how do the new ideas get introduced...a paper, conferen…
“When all is said and done, there are only two kinds of investors: those who don’t know where the market is headed, and those who don’t know that they don’t know. Then again, there is a third kind: those who know they don’t know, but whose livelihoo…
@Junkster.
Bottom line is if you want to succeed in this game, you have to become your own expert and listen only to yourself and the message of the market.
Hear, hear!
Very nice report MJG. Thanks for taking time to summarize and share your observations once again. I did follow-up with Ablin's "Five Factors for Evaluating the Market" web briefing. Good to hear that speakers are modestly if cautiously bullish on ma…
The real problem with low yields in Treasuries for the people that need the income is the income stream shortfall even if they get the diversification benefits.
Isn't an issue here also that if rates rise, US will owe that much more money on its gov…
Cool. OK, so more simply like "The Ivy Portfolio" that Mebane Faber describes in his book by same title. The so-called generic absolute return portfolio of VTI, VEU, BND, VNQ, and DBC allocated evenly at 20% each. Something like that.
Rather than take positions on bonds and equities like baseball fans choosing their teams and dissing the others, being diversified and staying so through these cycles is the best bet regardless of sentiment.
So, like Bridgewaters' Pure Alpha and Al…
Good stuff cman. Thanks.
I'm terrible enough picking long to even think about shorting ever...again.
(Ha...my one naked short was Staples just about the time Office Depot and OfficeMax merged...was able to unwind without getting hurt...and I still…
David also hosted an hour phone call/teleconference with the PMs at RGHVX, which I thought was very informative...like just about all these calls. Here is link to the summary and mp3:
http://www.mutualfundobserver.com/2014/03/riverparkgargoyle-hedg…
Nice. Will be interesting to see how Cambria's new Global Value_ETF GVAL does going forward. It employs strategy that hinges on investing in such low PE sectors. Studies show these value areas tend to outperform over next 10 years. In any case, good…
No argument on shorter lives of Aston and Whitebox relative to Boston Partners and Mainstay. But much of MFO is about bringing attention to younger funds, not yet recognized...certainly, these two are worth noticing.
With Whitebox too we could tra…
Hey, one other interesting metric.
FAIRX during last two market cycles Apr '00 - Sep '07 and Oct '07 - Present (thru 1Q14):
Despite the volatility since 2007, it remains in top quintile of risk adjusted return. Can also see a lot more volatili…
Betting the S&P 500 could rally past 2,250 before the 2016 presidential election, “depending on what new ammunition the Fed can dig up.” But then, a black swan will ignite “around the election or soon after, the market bubble will burst” and “r…
@Maurice.
Good stuff!
You know I am a BB fan.
That said, your comment: "He has been consistent."
I think you are right...he has been, at least as far as any mere mortal perhaps.
But his fund performance has not been, which is what rocked his wo…
Hey, I certainly agree with the Forbes' author on full-cycle returns, as discussed in April commentary. Hope to be adding full-cycle returns to the single-ticker MFO risk return profiles soon...along with lifetime returns.
Becoming a fan of both la…
