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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
AQR Funds has finally provided an updated commentary for AQRIX. Unfortunately, it's for 3Q, no mention of the 2Q swoon, which would help investors better understand the fund's strategy during "out of sample" environments.
For the 3Q, AQRIX returned…
Reply to @MJG:
For a long term investor, it’s a comfort to know that the equity markets return positive rewards about 70 % of the time annually, and that these same markets return an annual rate that is about 6 % over inflation.Nice!
Reply to @Sven: Ha! I actually lost out recently taking some money off the table because I feared consequences of the budget/deficit fight. It's OK cause I slept better, but after couple rounds now, starting to think market seriously discounts the "…
Reply to @Sven: I guess I think investors are cautiously optimistic. Things are not great, but they are not bad either. And bonds still don't instill high degree of confidence. Would you not rather invest in HCP paying 5 plus % dividend? Hard to pas…
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.
