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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 @teapot: Hi teapot. Based on risk adjusted returns, Invesco Balanced-Risk Allocation ABRYX has outperformed AQR's Dynamic Risk Parity AQRIX over lifetime and over same period (AQRIX is a bit younger). But neither has experienced a 2008-like…
Reply to @ron: Ron's April A-List. Fixed income funds first, sorted by downside deviation DSDEV, lowest to highest, blue if DSDEV and UI are less than 4%:
Asset allocation funds, blue if DSDEV and UI are less than 7% (most of list):
Equi…
Reply to @Zolta: Hi Zolta. Martin is a risk adjusted return like Sortino, but instead of using downside deviation DSDEV in denominator, it uses Ulcer Index UI. Here is previous post detailing definition and origin: A Look at Risk Adjusted Returns
Reply to @MOZART325: Thank you! You are absolutely correct. I've been down this road before so presumed the difference was load. (Can you believe funds still charge load?). Here's summary of the ERs on four share classes for Principal Global Div Inc…
Lots of good funds listed in this post, seems to me, but some can be very volatile.
Below is tabulation with emphasis on lifetime downside and drawdown performance. I broke into older and younger bunches, so not direct comparison over same period, …
I love the idea of performance adjusted fees.
I started thinking perhaps such an approach was the answer to otherwise seemingly investor-friendly, but high-fee funds, like ARIVX in particular. (See recent threads: MFO April 2013 Commentary is poste…
Thanks guys for info and link on insider trading.
Pared back FAIRX, FOCIX, and ARLSX as I continue to move portfolio back to just 3-4 principal holdings: BOND, AQRIX, and FAAFX.
If COP and GE continue downward next week, will likely move into othe…
Nice bounce up today, though certainly was not due to GE. Although I thought its numbers looked AOK. Ditto for BAC earlier this week. Yet, Mr. Market still punished them both. Good to see MSFT advance. BRK as well. Mr. Cook & Mr. Bynum should be…
Sir. If I did this right, I think momentum is looking pretty grim right now. Yes, turning point was February.
Below is the updated graphic and numbers you asked about...basically the 50d volume trend continues to decline...selling pressure growing …
Reply to @scott: Ha! It would indeed need to be arbitrage to get me to pay anyone 2/20. Hard to believe folks do...
I see ADAIX as a best-in-class offering. Diversified across mergers, convertibles, and other opportunity driven events. Low beta, go…
Reply to @AKAFlack: Hi man. Just a standard chart type in Excel. The data is from Yahoo Finance. Nothing precise about the 200-d SMA number. Thought it would be more interesting, and perhaps meaningful, to show daily volume in context of longer term…
Reply to @scott: Thanks Scott. On Mr. Volcker, which activity of his do you credit the decline in gold? His role in suspending gold convertibility? For raising interest rates? Or, pressing for balanced budget? Probably all three.
Ditto. Thanks Investor.
Here's updated M* Fair Value chart after yesterday's trimming:
Need good earnings week, if this unappreciated bull is ever going to get some respect.
BTW. A while back I posted that local housing market was picking-up. …
Slammed today also...FAAFX and FAIRX down more than 3%...and IRS made it doubly painful (and Boston explosives triply so). Only positives were RNSIX and BOND.
I'm a fan of AQR. Their process. Their history. Their (relatively) low fees.
But I worry about them becoming an asset gatherer.
I am very heavy and very happy with AQRIX.
But after it closed, they opened similar QRHIX and QRMIX.
I wish I could o…
Reply to @AndyJ: Thanks Andy. Long term stock prices are driven fundamentally by earnings. I know WSR and Professor Shiller believe the P/Es are inflated. I'm not so sure. Again, hoping for confirmation in earnings reports ahead. Lately it seems lik…
Reply to @bee: Thanks, yeah, I'm slow but think I finally got it. I believe that "Insurance" on the graph is short for "Insurance, Pension and Standardized Guarantee Schemes." The F6 instrument as defined in 2008 SNA.
I remember that my dad invest…
Trying to get back to 3-4 principal funds and cut my portfolio ER in half. Likely more ETFs. But no changes since last post.
Three top fund holdings remain: AQRIX, BOND, FAAFX.
Top stock holding: BAC.
BTW, what can you tell me about the Autonomy …
A glance at the fees...
There are management and incentive fees of 1.00%-1.75% and 20% respectively; a second-layer management fee of 1.20% (with a cap of 0.75% for the first year); operational and offering expenses of the fund of funds and the unde…
Reply to @Anna: Excellent Anna!
One: The Autonomy Global Macro Fund appeals to me.
Two: Thanks to your lead, I found System of National Accounts 2008 - 2008 SNA, which represents "the internationally agreed standard set of recommendations on how t…
Thanks scott, John, Bud. Good posts on Mr. Gundlach (aka Socrates?). I went ahead and bookmarked TRB. I did not fully understand this chart called "The Stash of Cash":
http://www.thereformedbroker.com/wp-content/uploads/2013/04/bond-bubble.png
Is …
Looks like Mr. Rolfe et al have actually done well since inception in Oct 2010 with RWGIX & RWGFX, despite only modest YTD performance. Here are the lifetime numbers and comparison over same period with growth ETFs from Vanguard VUG and IShares …
Reply to @Investor:
I call this BS!Ha, sounds like you did not like it =).
I did not look too closely at the portfolio, but I like that the article calls attention to need for looking beyond the traditional 60/40 fixed strategy and references some…
Reply to @Investor: I agree. They jumped back into Fannie Mae, Wachovia, and AIG before each imploded in 2008. They started buying HP in 2001 and it was their No 1 position in 2010...
But I do not understand how or when they apply exit criteria.…
Good article.
The future delights in humiliating seers.and
...PIMCO Total Return can be seen as a superior diversified fixed income vehicle, rather than a pure-play on the market-timing powers of one man (Bill Gross). The fees of the institutional s…
Read the Bill Frezza article this morning. He tees-up nice discussion, but then does not really follow through with facts or figures enabling us to favor or reject any side, let alone take-up his challenge against hat-in-hand, too-big-to-fail capita…
Reply to @bee: Good grief! HP, JCP lately. Wachovia, Fannie Mae in 2008. D&C must be the worst stock picker of just about any actively managed fund company today. They lag value index ETFs for the last 10 years...
But over the last 5 years, …
Hi MJG. Looking forward to reading. But JIC, wanted to wish you well on the cruise. I do have a dear friend that will invariably move out of stocks and into bonds every time he goes on vacation. It is uncanny, but he is usually right to do so!
Hi bee. I've seen this chart and site before. Any idea of where the 30 and 70 guidelines come from...simply relative or based on historical precedent? Hope all is well. c
