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
Thanks Scott. But good grief. Starting to think that D&C has some of the worst stock pickers in the business. Extracted from their Dec 12 annual report:
▪ Hewlett-Packard down 43%.
▪ Nokia down 13%.
▪ Xerox down 12%.
▪ Occidental Petroleum down…
I'm holding my breath a bit on sequester. Heading into new year, I thought perhaps we'd be OK, but now we seem back once again unable to legislate. Maybe in my next life I will come back as a US congressman or senator...folks with title, great salar…
Berkshire Hathaway BRK.A BRK.B
Gaining momentum last few months after a few so-so years (for BRK anyway).
I know there is some downside risk for when the great one passes the baton.
But for next few years anyway, I'm thinking of jumping in.
Also…
Hi Flack. I like few holdings as well...if only David, Scott, and all the other members of MFO board would stop posting good fund ideas!
Hey, I looked at a variation of the portfolio above using iShares Barclays 7-10 Year Treasury Bond IEF instead …
Reply to @scott: Thanks Scott, as always. I did not know Mr. Faber had GTAA. I see it is about 3 years old. If we follow Flack's method above, the approach trails SPY pure, but it is comparable to 60/40 portfolio. Think we should suggest that Mr. Fa…
Reply to @scott: Cool stuff Scott. Thanks for finding...
I too learned when doing the Matthews Asia MAINX piece last month that when it comes to funds that invest in Asia, houses like Aberdeen may have different offerings for investors in say L…
I participated in the RiverNorth call yesterday. Here is link to presentation entitled Harnessing Volatility.
Bottomline: The fund manager Eric Metz believes that the options market is less efficient than the equity market. RNBWX tries to exploit t…
Reply to @David_Snowball: Thanks David. That sounds a little better. I struggle a bit with the "focused" concept. I never really saw the benefit of Mr. Yacktman having both YAFFX and YACKX. Seems like concentration is either intrinsic to the house's…
Reply to @andrei: Time will tell on whether it's a "proper" response, but I suspect the fund market demands Matthews offer something comparable at this juncture.
I think I get the distinction of the Emerging Asia Fund:
Although the Fund may invest in companies located in any country in Asia Ex Japan, once fully invested and under normal market conditions, the Fund is expected to invest a substantial portion …
Reply to @David_Snowball:
That's basically what I heard too.
The call was great!
Remember this post:
http://www.mutualfundobserver.com/discussions-3/#/discussion/comment/14389
Very good to hear AUM is now at $35M and growing.
Reply to @STB65: You're right about the short duration, of course. Still, RPCSX really is off to good start this year, after a modest inception last year. With today's 1.2% upper, it's 11.5% YTD, 21% 3-mo return...hard not to smile:
Absolutely love it. Great clip Catch. Fantastic contrast highlighted between Mr. Zweig's crash prediction and Ms. Farrell's reassurance. Classic moment. Thanks!
Reply to @scott:
I think with Staples, my opinion is that you have Office Max, Office Depot and Staples - you're not going to have all three around in the years to come. I don't know which remains and I haven't looked at the companies in detail, but…
Masterful MJG.
Only way to beat the market is having illegal access to information nobody else has or by superior analysis of available information (ref. Madin, Hagel).
Your thesis reminds me of the cold war analogy, or better yet, the scene in Wa…
Reply to @scott:
1. You are amazing.
2. What a truly sad situation if your comment is true (beyond obviously exploitative shops like Edward Jones):
...to some degree it's the desire of financial companies not to have the populace (as a whole) hig…
Hi Scott.
I will indeed read Dark Pools. Just so many things to do now that I'm retired! Don't understand how I ever found the time to work =).
How do you spell Volatility? ANDE
Reminds me of the view from a favorite camping spot near Mammoth…
Reply to @MJG: MJG, you remain a poet =). Thanks for the SPIVA Persistence update:
Dodge & Cox funds are good examples of a high-profile funds receiving 5 stars (based only on relative performance) leading up to 2008. They have been 2-3 st…
Reply to @WallStreetRanter:
Hi WSR. From David's February commentary:
Morningstar’s “analyst ratings” have come in for a fair amount of criticism lately. Chuck Jaffe notes that, like the stock analysts of yore, Morningstar seems never to have met…
Reply to @Mark:
Many, many others think the market is just a scam manipulated by the well to do and insiders. Flash crashes and computer glitches don't leave them feeling warm and fuzzy. Bottom line people want to see what little they have sitting t…
Good article Ted. I liked the part about frequency of checking portfolio (which I do daily =)) most interesting:
In a financial context, myopic loss aversion is represented by the frequent evaluation of a portfolio’s performance, which can lead to s…
I think you got some of the key companies David. Andy is right about FMI.
Here are a few more for you to consider, including some with high profile, like Ariel, Fairholme, First Eagle, Hussman, Jensen, Leuthold, LKCM, Osterweis, Third Avenue, Torra…
Hi Bob.
I agree with your categorization of Whitebox Long Short Equity WBLFX. I'll also give that Mr. Aronstein's MFLDX has (slightly) outperformed Mr. Redleaf's WBLFX since 2007. But with an enviable 13.8% APR and 2.0 Sortino Ratio since its incep…
Good grief, I've never read one of his letters before:
Put simply, ignoring the messenger because of the challenges we faced in the most recent cycle, particularly our self-imposed stress-testing, is not a valid reason to dismiss the hostile conditi…
Thanks man.
I first went into FAAFX pretty big on 25 July 2011 and added the following month. Totaling about 50% of portfolio. Like you, I just felt Mr. Berkowitz made perfect sense to me. And, thanks to being FAIRX heavy through the credit crisis,…
Reply to @andrei: Thanks andrei for feed to GMO...aka Grantham, Mayo, Van Otterloo. Here's link to site: https://www.gmo.com/America/MyHome. (It required a quick and easy registration.)
Below is graphic of the 7-year forecasts you reference. I like…
Thanks Scott. I see GAP up 5% today on heavy volume. I did not realize it has a $15B market value! Down day for Fairholme family though...and my house with it. All holdings down today but MAINX and RNSIX.
