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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
Hopefully, not as bad (notorious) as Edward Jones.
Hey, why use a middle-man at all?
Why not just open account(s) at Dodge & Cox? Invest in DODIX if your needs are fixed income.
Or, Vanguard. Invest in VWIAX, if your needs are conservative.
…
Reply to @davidrmoran: Ha! Now you are starting to get as bad as me.
Every quarter, I have to resist the urge to add 2, 7, 12, 15 year and life-time evaluation periods to the rankings. If I did not, Chip and her team would probably vote me off the …
Reply to @BobC: Hi Bob. Thanks for kind words and for your many contributions to the board.
"Do you simply use the asset class from M*?" Yes. You will also find in the definitions that there is no accounting for any style drift over the period(s) o…
Reply to @golub1: Basically, GOs are funds that are in the top quintet of their category in risk adjusted return over all evaluation periods 3 years and more, as applicable. The risk adjusted measure is Martin Ratio, which is superior excess return …
Reply to @davidrmoran: Ha! Trust me, I'm the dense one. There is no place yet, but we're working on it. Basically, ability to search all 7500+ MFO rated funds. In meantime, I will try to be as responsive as possible to any specific requests, like yo…
Nice post MJG. Glad you are back on land. By the way, they have planes now =). I too was happy for the recipients of the Nobel Economics Prize this year. Hope all is well.
Reply to @Hogan: Agree. Although fundamentals don't look so bad. (Warning: Scott may take issue with me a bit on this point). Companies buying back lots of shares. Money remains historically cheap. Unemployment falling. Housing increasing. Private c…
Reply to @Skeeter: Thanks man. Sometimes I think it's tougher knowing when to get out than in. One guideline is the 10-mo SMA, but you can lose 15% on such indicator. Which is better than 50%, for sure.
Yeah, I too see few 5 star ratings based on M…
Nice write up David.
Other things I remember:
...will hold cash, 2-30% at times
...all-cap, but portfolio skews toward high quality, except when "special situations" are identified
...high quality means a firm possesses competitive advantage tha…
Reply to @STB65: Hi STB65. Grandeur is hot. No question about it. And David is very enthusiastic about the shop. But Seafarer works for me. I already have FAAFX, which provides enough excitement. I've always seen ARIVX as more of a conservative allo…
Reply to @MikeW: Ha! I know what you mean....see recent post.
But I have been delighted with Seafarer from its inception. It's seriously more shareholder friendly than Wintergreen.
Under-performance? Here's comparison with DREGX, the Great Owl fun…
Reply to @MikeW: Hi Michael. You're very welcome. ARTHX is indeed on the Great Owl list. Look down near bottom of World equity funds.
Here are all the Artisan Funds rated within MFO system:
PS. If you double-click on image, it should come up fu…
Thanks David. I love these calls.
These folks have beaten the S&P fairly consistently, especially over longer periods. They appear shareholder friendly with good explanation of strategy and decent ER. No load. No 12b-1. But it does look like th…
Think futures have actually turned higher. Probably 'cause no-one really believes we would do such a reckless, irresponsible thing as default. Let's hope these bulls are not fools.
Amazing. I don't know about a deal, but whatever the reason, a welcomed relief to the early morning futures. It was nice seeing materials stocks up, like VALE and AA (again). Nice call Ted. (Make sure you tell me when it's time to sell short!)
Yes, beware. I see it too with the Maximum Drawdown numbers based on the five year window. Typical fund now show about 20% drawdown from fall of 2008 to spring of 2009, but the "real" MaxDD is more like 50% from fall of 2007, which is when the desce…
Reply to @BobC: I agree. DREGX lost a heart-stopping 62% between fall of 2007 and spring of 2009, and only just now recovering...although just about everything was slammed back in 2008. Hate the 1.66% ER on $1.5B AUM. Hard to argue its long term rec…
Reply to @STB65: Hi STB65. You're not confused at all. There are no 20-year Diversity EM Great Owl funds....none even close. The ones evaluated were:
Acadian EMs Instl (AEMGX)
Morgan Stanley Inst EMs I (MGEMX)
Templeton Instl EMs Ser Adv (TEEMX)
Ru…
Outstanding! Overdue. Very happy for Professor Fama and University of Chicago. Glad too to see Professor Shiller recognized here. I'm not yet familiar with Professor Hansen's work. Just great to see the Nobel committee recognize these US professors.…
Reply to @Mindy: Good idea!
Hey, all this reminds me of a new book I've put on my reading list:
It's Even Worse Than It Looks: How the American Constitutional System Collided With the New Politics of Extremism, by Thomas Mann and Norman Ornstein
Reply to @Junkster: What a waste of time it is, every year! "Entropy Rising" should be our name for DC. I know we need to pay attention to it, and I've tried to posture accordingly if that's possible, but I would really rather be focused on earnings…
What a disaster. We should all be more focused on GE and BAC earnings reports this week. Oh, and the Mutual Fund Observer conversation with Zachary Wyndra of Beck, Mack & Oliver on Wednesday!
Reply to @linter: Ha! You sound like Investor. The return rankings are comparable since they are over same evaluation periods, as applicable. They are actually based on Martin not Sortino. The other tabulated numerical metrics (STDEV, Sharpe, etc.),…
