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.
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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
Reply to @msf: I just pulled the figures off M*, no hyperbole intended:
Thanks for correcting against actual prospectus. Certainly, the lower the cost this sad fund charges, through any vehicle or share class, the better. But honestly the fact …
Reply to @Old_Joe: OK, maybe I was being a little severe. But let me tell you how bad it is...
Of the 7500 or so equity and fixed income open ended funds available, unique share class, excluding trading funds, consider this:
Over 700 have delivere…
Many, many more deserve to be liquidated.
How about...
GAMCO Mathers AAA (MATRX)
Nysa (NYSAX)
Newmark Risk-Managed Opportunistic (NEWRX)
Fidelity Advisor Financial Svcs A (FAFDX)
Invesco Pacific Growth B (TGRBX)
Rydex Electronics Inv (RYSIX)
Midas…
Reply to @Investor: Nice post. I did not know that the Wellington/Windsor connection to Vanguard was consequence of the Bogle history you describe. Pretty cool. As for VWELX, one of greatest mutual funds ever. Though I suspect it too will spend some…
Reply to @scott: Yeah, I think Mr. Redleaf et al seem to have finger on market pulse lately. Shorting bonds and small caps played well today. Suspect their 3Q performance will look pretty good if things keep going way they are.
Also up today was HS…
Reply to @Investor: Thanks man. M* methodology uses Sharpe, like I remembered. I think documenting their methodology of assigning stars for both funds and stocks is something M* does very well.
Reply to @Old_Joe: Please note also that I believe M* system uses Sharpe Ratio when ranking the risk adjusted returns and calculating number of stars, whereas MFO uses Martin Ratio.
In other words, M* uses return relative to volatility index (Stand…
Ha! Emailing you from the Humbolt State Park. After our walk through forest of amazing redwoods, we're actually drinking Prosecco, about to enjoy some homemade pizza...so, thought to check market and MFO. (David is a much, much better man than I!)
…
Reply to @scott: On perpetually late quarterlies, it bothers me.
Maybe I'd feel different if I were investing in a hedge fund. But maybe not. In any case, if you give the expectation of providing quarterlies, I think it's important to be timely. El…
Here's another example of the bias toward advisors over shareholders. Presumably, advisors can help increase AUM, more than existing shareholders.
It's the perpetually late-to-publication quarterly update page at AQR Funds:
Note the little lock…
Reply to @msf: Good points msf. I too noticed that every single fund in the Bank Loan category that lived though the 2008 decline drew down 15% or more, which I consider a real painful threshold for most investors. Every one:
OK on Fido. Hey,…
Reply to @catch22: Nope. Just been growing a little wary of the shop because of reports recently. Like I've posted before:
David's July commentary, under sub heading "Fidelity cries out: Run away!"
Here are few excerpts:
Fidelity’s signaling the f…
I suspect I will be in minority here, but here goes:
I think you can be diversified with just 4 stocks: eg., BAC, WLP, HES, AAPL.
I think you can be diversified with just 1 fund: eg., SEQUX. Or, FPACX. Or, VWINX.
OK, here is long-term 3 fund por…
Reply to @catch22: If Fido really charges a load for this fund, it will be one more example that makes me question their friendliness toward shareholders. Please let us know either way. Thanks catch.
Reply to @scott: Hey, finally, a really good day for coal and basic materials:
The irony is that they rose not on recovering US economy, but on China's.
Hi bee. I think FPNIX makes a good turtle...it's also a great owl =).
Here's how it handled recent interest-rate hikes:
Here's how it handled 2008 financial collapse:
Here are the performance/risk numbers:
And, Steven Goldberg likes …
Yeah. I guess I see a way under-valued company. Lots of headwind causing it. Strong foreign competition. But good CEO. On the horizon I see recovering aerospace and automobile industries. No momentum in the stock, however. And, 10% short float. Alth…
Yeah, not fair Art to rub it in...it's my largest holding!
Ha! Correction. I just checked. FAAFX is now largest holding by slight margin. Was AQRIX, but then, we all know what happened...
I'll play Scott...
I'm now more interested in investing for the long term. Getting better at it. Trying (with some success) to temper my "Where are you investing now...?" thread, as much as I enjoy all you newts.
I look for healthy dividends. Prom…
Reply to @mrc70 and Tony: Good points, understand. Just wish there was a way to warn new investors that, while DODGX is indeed top-notch (value strategy, large cap, low fees, high integrity shop), it has experienced significant drawdowns of -60% in …
Reply to @ron: I like SPLV. But I'd say WBMIX is better hedged against downside. SPLV is a bit young to experience...and so is WBMIX for that matter. Thoughts?
Reply to @BobC: Nice. Thanks for sharing Bob, lesson-learned. I think I expected them to be more agile. Maybe too many of their holdings were in decline...EM, commodities, bonds...all falling at once. August 8th...and still no commentary from AQR on…
