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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
WBMIX up (again) today...0.61%.
Interesting to see their shorts:
Name Position % Symbol
iShares Russell 2000 -7.11 IWM
iShares 20+ Year Treasury Bond -5.75 TLT
American Airlines G…
Crack me up!
Hey, how about this one...
Americans With No Abilities Act (ANAA)
President Barack Obama and the Democratic Senate are considering sweeping legislation that will provide new benefits for many more Americans. The Americans With No A…
Movin' on up...
Hey, here's a Peter Lynchism:
"If you must own government bonds, buy them outright from the Treasury and avoid bond funds, in which you're paying management fees for nothing."
Ha!
Here is link to TreasuryDirect.com.
@cman:
You can see this as an extreme capital preservation strategy where the drawdown is at or close to zero under any scenario. They are definitely not for the kind of capital growth needed by the 99% to make their retirement.
So why do these man…
Hey, one other thing...
Like Ted notes, it's a top 1% fund across 1, 3, 5, 10 and 20 year periods, using a Morningstar's risk-adjusted-return metric.
But most of BRUFX's long-term performance comes from the 2000-2007 cycle, when it returned a brea…
If I remember, Bee is a champion of the fund also.
Couple things to note: I believe it is only available through direct purchase. And, though it's categorized a Conservative Allocation fund, it's experienced downside more like a Moderate Allocation…
Good one Hank!
I've always liked Graham's definition, which Mr. Murcko references.
Not sure I agree with the definitions Murcko ultimately offers up, but the article does make you think about the difference, if there is any, which is always good.
…
Thanks man.
I too remain cautiously optimistic for those very reasons. Anecdotally, I see a lot of construction locally here in central coast and places we visit.
The sell-offs in tech, for some IPOs, help as well...I think that is healthy for the…
Hmmm...
Can I buy it at Ralph's...Kroger's?
Actually, I think it is healthy (aka "efficient") for folks to look more critically at IPOs.
Hey, maybe it will help prevent next big "correction."
Thanks man, hope all is well.
Well, this is good to hear from new SA post:
"That error that they made doesn't bother me," says Buffett of Bank of America (BAC), which had to suspend its capital return plan after miscalculating capital levels. "It doesn't change my feeling about…
@rjb112:
I just sent an email to the fund, asking them for an email address and point of contact where I can express my concerns either to the Board or David WintersHow cool is that?! Bravo.
We should all be interested in how they respond, if at al…
Morning Ted! You think so because like, Peter Lynch, you are perpetually in stocks? Or, fundamentally economy is doing well and stocks are not particularly over valued...earnings good, cash high, buy-backs strong, etc.?
Are there more Potter's than Bailey's?
Don't the Bailey's ultimately triumph?
Similarly, don't all things based on falsehood ultimately get proven wrong? (Take recent Donald Sterling example.)
In the book The Moneychangers, wasn't there a good ba…
I'll run the numbers when I hook-up. But I seem to remember WGRNX did not do very well in 2008/9. Can't remember how it fared in late 2011. But to Scott's point, I don't get sense the fund offers much downside protection. Mr. Winters is essentially …
Wow. Good article by James Saft.
A family member puts it this way: "People want to trust banks because they hold our money, but they are all corrupt."
Bummer to think about...
Hey, the new movie Wolf of Wall Street is unsettling too.
FAAFX hit harder, despite good day for SHLD.
BAC situation is embarrassing!
Maybe not as bad as HPQ and Autonomy, but still.
Really thought the only BIG issue still facing BAC was amount of legal fee/settlement(s).
Can't help think this current …
Horrible.
At best embarrassing.
At worst, I don't want to think about it!
Suspect that in any case, there is more to this story than has been released yet.
So, I've sold off couple other holdings to position to buy more BAC, JIC.
(The holdings …
Hi Scout.
Strictly performance numbers...looks like dropped to 4 in December:
Still gets M*'s Gold Metal =).
Looks strong past three years. M* five year risk adjusted returns, which emphasize absolute returns, is a drag on composite rank.
…
@catch22. Thanks. Please keep reminding us. Helps keep our perspectives more balanced =). Hope all is well.
@hank. Good point about Cyprus. Seems like distant memory. Let's hope Ukraine intervention fades quickly too.
No changes since last report. If BAC gets slammed tomorrow, may add to it. Otherwsie, steady as she goes. Think the recent tech earnings, and honestly earnings in general, as well as recent order report, will help steady the bull. Ukraine remains wo…
Thanks David. Kind of what we've come to expect, I'd say.
Hey, Whitebox (my heavy) gets no love either. Note that its AUM has grown to $744M. Fund proper with reach 3 year mark in November.
Hi MJG.
Didn't Investor give us heads-up on this paper early last year? Although I think the version then was called something like "Fooled by Data-Mining."
Professor Zakamulin was very much inspired by “Data-Mining Bias: The Fool’s Gold of Object…
Turned out to be really good event.
Some quick notes...
All measures passed. 1st >90%. Others 60-75%. Of votes at time of meeting.
I actually had opportunity to ask the new Chairman Charles Pohl and new President Dana Emery a few questions dur…
