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.
Support MFO
Donate through PayPal
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
Reply to @Old_Skeet: As an long term investor, I have "never" made good money when I bought at, or near, the top or in an "overvalued" market.
Hi Skeet. Until we can look in rear-view mirror, the "top" is hard to call with any certainty, no?
Reply to @Mark: Back from sweet autumn dinner out with friends.
M* pegs GE fair value at $27. Seems reasonable for foreseeable future, until things become clearer.
Max? $33-$35 a ways out?
Again, long term, OK, but think there are some better opp…
Reply to @Mark: Ha! I know, I love the GE story...but after the nice run up, I've become a bit spooked on valuation compared to other opportunities...surely, my own lack of understanding at work as well.
OK, so. GE has $12 per share cash, but $8 pe…
Reply to @MJG: Hi sir. You are of course correct, although Mr. Weitz only deducted one sigma:
Like in the original Three Alarm list, a fund’s Risk Rating is assigned based a “potential bad year” relative to other funds in the same category. A Risk R…
Reply to @davidrmoran:
OK, here are the numbers for GLRBX in the Three Alarm/Honor Roll system:
GLRBX was really close, but fell just shy in the 5 year period from the other top funds in the conservative allocation category. Note that SWCGX …
Hi Scott!
Last couple weeks I've initiated three positions:
SENEA
JBSS
APA
Looked pretty hard at ADM after the failed acquisition, but opted out.
Sold GE.
Remain heavy AA, BAC, SCHN, HES, DODGX.
While cutting back on FAAFX and SIGIX.
Hope al…
Reply to @davidrmoran: Ha! Hi sir. The Honor Roll stuff is easiest of all. Simply top absolute returning funds in their respective categories during past 1, 3, and 5 year periods.
Without digging deeper, the omissions you mention tend to be top ris…
I'd listen to Accipiter.
The only way I could get the table to not appear was to disable JavaScript in Chrome. You do that by entering:
ctrl+shift+J
Then, go to Settings in lower right of JavaScript panel.
See if JavaScript Disable box is clicke…
Hi bilvihur.
Of course, I just checked the link:
http://www.mutualfundobserver.com/great-owls/
And, it's working fine..using Chrome also.
If it helps, we should be posting a new and improved search engine soon!
In meantime, I'll see if I can em…
I can find no credible data indicating any relationship between keeping abreast of financial news and increasing your investment returns. The opposite seems to be true: Paying close attention to the financial information du jour probably contributes…
I have used it since 2007. Company is quick to support any questions. Always helpful. Responsive to suggestions for improvement. If you're into tracking mutual fund numbers, I recommend it.
My thoughts on bonds currently reinforced by Mr. Rekenthaler:
In my portfolio, I hold cash rather than bonds. I don't wish to lock into yields at today's low rates. If I were in bonds, though, the presentation suggests that I: own intermediate-term …
Although, one young US multi-sector bond fund seems to be off to a very good start, evidently implementing the very "Steady Eddy" strategy we've come to expect...Mr. Sherman's RiverPark Strategic Income RSIIX:
This sub-surface deterioration is a clear sign that rough waters are ahead. It’s time to batten down the hatches and prepare for the inevitable storm!
Hi Old_Skeet. I did not find the author's argument compelling at all. One too many anecdotal claim…
Nice article Mark, thanks!
Lots of good historical stats and I like some of the wisdom summarized at end, particularly:A lost opportunity is more easily replaced than lost capital.A rate of return sufficient to keep pace with the rate of inflation.…
Humility is evidently not part of John Hussman's make-up, but hubris seems to be...
...I earned my doctorate in economics from Stanford, studying with Tom Sargent, John Taylor, Ron McKinnon, Robert Hall, and Joe Stiglitz, and spent several years as …
Really good!
The compromise and the obvious solution goes back to what we learned in grade school: If funds exercise the option to disclose their holdings more often than required, they should be required to give that extra information candy to ever…
I'm crazy about Professor Greenblatt's philanthropic efforts and his book "The Little Book That Beats the Market." But he charges too much for his ETFs and funds for me to take them seriously, regardless of how intelligently compelling they may seem.
It is one of very, very few equity or allocation funds that has NEVER lost money (ignoring inflation or cost of money) over any 3 year period for the past 20 years. See article on Permanent Loss of Capital in David's current commentary:
http://www.…
Hi Ron.
We did a commentary on Mr. Arnott back in May:
http://www.mutualfundobserver.com/2013/05/may-1-2013/
Like you, I respect him and Research Associates a lot.
But I seem to remember two broad cautions on the board previously, paraphrasing:
…
Ha!
David first profiled Vulcan Value Partners Small Cap Fund (VVPSX) in April 2011.
Investor has championed this fund a long time.
I think some of the holdings are interesting, if not fantastic:
CHE, HPY, CW, OTC, TUP, SONIC.
And liitle warnin…
OK, quick look back at LTFAX and OAKGX from circa 2000 through 2004. Ted, even you should be impressed...mitigated drawdown, superior absolute returns, and high risk adjusted returns:
And, here's look at M* performance plot during same period:…
Reply to @Ted: Ha! What do you really think? True, it's been an up market from SEEDX inception, so hard to judge by just looking at the past 11 months or so. Fact is, most defensive long equity funds have "under-performed" against traditional bench…
