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Have there been any buys or sells over the correction (4 or 5 days) ?
I'm afraid I remain the epitome of investment lassitude: a fairly conservative asset allocation in my portfolio (which remains solidly in the black for the year) and regular additions to F P A Crescent, Artisan SCV, RiverPark Strategic income, Price Spectrum Income and Seafarer.
If I do sell, it would be a way of generating cash to pay down my credit card debt - I made a number of entirely sensible investments in my "new" house ($2000 for a massive upgrade to the insulation, $1000 for working toilets, $500 to rewire the main electrical service panel, $500 to move all the lighting to LEDs, that sort of thing) that raised the balance higher than I'm comfortable with. Those sales are far likelier to come from a conservative fund than one of my more volatile beasties.
I sold my position in OAKWX, which overlapped with ARTGX in some sense in order to put more money in GPEOX before it's hard close. Waiting to hear back from them regarding an email I sent.
Nothing here, either way. I have a pretty big stake in Europe via PRESX, at almost 15% of portfolio. Holding out for a bounce upward after all the feces and mayhem and death is finished in Ukraine and elsewhere. Dreadful and horrible. But the Fat Cats will find a way to make money. I ride the coattails. Shameless. (Them AND me.) PRESX is pretty much entirely committed to DEVELOPED Europe. Portugal's Espiritu Santo Bank isn't helping, lately.
I sold ICEUX and UMBWX a week ago, they were on my sell list and I wanted to be cautious of possible temporay downside in Europe (geopolitical, resurfacing Europe problems, etc) (Wanted to do the same with HAINX, but haven't done it yet and am hesitating because don't want so sell closer to the bottom of a correction)
Else, I added to Energy/MLP-funds MLPX, PXI (a little early for PXI, so I have a small loss) and also to EM: WESNX, GPEOX (about to close)
On my correction-buylist, (if it corrects more) are funds such as DSENX, POAGX, FBIOX, RPV, FSCHX, FSDPX, more MLP/Energy, more EM/Asia, also PDI, BWG, EVBAX, FNMIX (if FI dips)
Similar to @jlev, I bought a bunch of GPEOX in anticipation of the closing and will buy more before they close. I was, and still am, hoping the correction will be a bit more substantial over the next couple of weeks so the remainder of my intended investment will give me a slightly higher share balance. I considered the small dip in price a lucky benefit rather than anything else. I have a handful of stocks I'm watching but the prices are still 5-10% above my target so nothing yet.
M* is often just plain not very accurate about comparisons. GPEOX is listed in "divers. EM." But its holdings are weighted toward small cap. That ought to be where it's listed, eh? In foreign small-cap. http://quotes.morningstar.com/fund/f?t=GPEOX
MSMLX is Asia-only, not worldwide, but it holds midcaps, rather than small-caps as the name indicates. I'm speaking of the weighted average, of course, according to M*.
If you've found a great up-and-comer in GPEOX, congratulations. I've bought some very young funds in the last couple of years, too: MAFSX, MSCFX, SFGIX.... Yes, there's no mistaking the connection: SFGIX is run by A. Foster, with Matthews in his past.
Over the past couple of weeks I have been a net seller although I have done a little buying too. Sold all of MFLDX, JCRAX & KSDVX. Have added to TSIAX, CAPAX, AZNAX, ABALX, HWAAX, IIVAX & TOLLX. I still have about 90% of my recent sell proceeds left and parked in the cash area of the portfolio.
Added to IYE by lightening up a bit on XLP in Roth, standing pat in mutual funds. Sold MCD just before this week's gyrations and still have it in cash waiting further declines. If not, will put it to work by end of September.
Added to MFLDX, added to GAINX, added to T Rowe Health,QLENX. Out of T Rowe Global Allocation, out of Pimco L/S (and soon out of remaining other Pimco funds). Added to a few stocks, including ADM.
Thought about adding to Walgreens after today's obliteration, but just don't care for it even down that much.
@Crash, you are soooo right about M*. I've concluded if you think the way they think then its probably okay, otherwise you have to work a lot harder to find what you're looking for, and you always, always, always have to double check their information because I find mistakes and inaccuracies on a very regular basis.
Thanks for the mention of MSMLX, it was an interesting read. I'm a big fan of Grandeur Peak, so maybe biased, but I like funds who give managers relatively broad opportunities to earn the best returns. I also prefer more focused portfolios and MSMLX is better in that area. I'm adding it to the list of funds I monitor and consider when I feel the need to make changes or reallocate.
Recent selloff in the energy sector (probably due to declining price of oil over the past two months ) has provided excellent entry point for several of the best small cap oil exploration & production stocks. Bought: SN (Sanchez Energy), OAS (Oasis Petroleum), and MTRX (Matrix Energy).
>>>I bought more SNTIX, VWAHX, and PZA--municipal bond funds and ETF. These have been steady gainers this year, with next to no volatility.<<<
All on my watch list daily albeit not a fan of VWAHX. Although not a fan of ETFs, have to admit PZA is about as steady as they come and can't think of any ETFs in that category that have maintained their tight rising channel. Maybe MHF but it has been a dog most years outside of 2014. As you saw, when the ETFs fall, they fall hard. Far harder than the open end funds. I'm still 100% in high yield munis in my IRA but after selling and then rebooting it's now around 60% EIHYX and 40% NHMRX. EIHYX caught my attention because of how steady it held during the very mini July selloff. Another one was NHYMX but it's a bit too conservative for my tastes. Let's hope the munis keep rolling.
Derf: Sell your winners and add to your laggards. Wouldn't a year ago have been the time to sell MFLDX?
Though I hate all those funds generally, I'll rise to defend it here. You loved it once. What swayed your affections? And honestly, from what I've seen, the guys running it are smarter than 90% of their peers.
I've thought of selling some cash, but do not consider the past few weeks a "correction." (More like a burp). The attention grabbing 700 points off on the Dow recently is the equivalent of only about 300 points just a few years ago when markets were more reasonably valued - YAWN
"For his part, Mr. Aronstein is polite enough to discuss the size issue, but his real frustration is the general disconnect between what's happening in the markets compared to what economic logic suggests should be happening.
“A $21 billion fund is no harder to manage than a $4 billion fund, it still comes down to getting it right,” he said. “If I had a more active trading approach, it would be hard to manage this much money, but we operate from a very broad, macro-economic perspective. It might take us two weeks to get into a position instead of two days, but we always try to act deliberately over a long time period.”
Nothing against it re: RPGAX. It's done okay. I established a relatively minor position in it, then other ideas and priorities came along, both in terms of individual stocks and funds. Didn't find a better apples-to-apples alternative, other ideas came up and took priority. Rather than adding more to the existing position, just went towards higher priority ideas.
I'm holding TRAMX shares, too. I'd love to know the reason for the big pop the other day--- over 2% in a day, or something of that magnitude. I'm riding it. Got in at a good time, in 2012 at $7.19. Two years ago, this month.
MasterCard has been building their infrastructure over in that part of the world for 20 yrs. other companies are investing also. I bought the fund when it first started, kinda of like buying a first year car off the production line.. Anyhow, I bought on the high end as well as the low end in DCA. What I have invested in the fund is up over 18%. I'm going to let it ride and hopefully in next 10 yrs it will boom nicely.
Comments
If I do sell, it would be a way of generating cash to pay down my credit card debt - I made a number of entirely sensible investments in my "new" house ($2000 for a massive upgrade to the insulation, $1000 for working toilets, $500 to rewire the main electrical service panel, $500 to move all the lighting to LEDs, that sort of thing) that raised the balance higher than I'm comfortable with. Those sales are far likelier to come from a conservative fund than one of my more volatile beasties.
For what that's worth,
David
(Wanted to do the same with HAINX, but haven't done it yet and am hesitating because don't want so sell closer to the bottom of a correction)
Else, I added to Energy/MLP-funds MLPX, PXI (a little early for PXI, so I have a small loss)
and also to EM: WESNX, GPEOX (about to close)
On my correction-buylist, (if it corrects more) are funds such as DSENX, POAGX, FBIOX, RPV, FSCHX, FSDPX, more MLP/Energy, more EM/Asia, also PDI, BWG, EVBAX, FNMIX (if FI dips)
http://quotes.morningstar.com/fund/f?t=GPEOX
MSMLX is Asia-only, not worldwide, but it holds midcaps, rather than small-caps as the name indicates. I'm speaking of the weighted average, of course, according to M*.
So, what I'm pointing out is apples and oranges. Yet, which one is better?
http://quotes.morningstar.com/fund/msmlx/f?pgid=hetopquote&t=MSMLX
GPEOX
ytd 11.3 1 month: flat. (No M* stats beyond that.)
MSMLX ytd 12.46 1 month 0.05 5 years 14.55
If you've found a great up-and-comer in GPEOX, congratulations. I've bought some very young funds in the last couple of years, too: MAFSX, MSCFX, SFGIX.... Yes, there's no mistaking the connection: SFGIX is run by A. Foster, with Matthews in his past.
Old_Skeet
Thought about adding to Walgreens after today's obliteration, but just don't care for it even down that much.
Thanks for the mention of MSMLX, it was an interesting read. I'm a big fan of Grandeur Peak, so maybe biased, but I like funds who give managers relatively broad opportunities to earn the best returns. I also prefer more focused portfolios and MSMLX is better in that area. I'm adding it to the list of funds I monitor and consider when I feel the need to make changes or reallocate.
I sold VWEHX, DLENX, and LSBRX as each fell 1% from it's recent high.
I bought more SNTIX, VWAHX, and PZA--municipal bond funds and ETF. These have been steady gainers this year, with next to no volatility.
All on my watch list daily albeit not a fan of VWAHX. Although not a fan of ETFs, have to admit PZA is about as steady as they come and can't think of any ETFs in that category that have maintained their tight rising channel. Maybe MHF but it has been a dog most years outside of 2014. As you saw, when the ETFs fall, they fall hard. Far harder than the open end funds. I'm still 100% in high yield munis in my IRA but after selling and then rebooting it's now around 60% EIHYX and 40% NHMRX. EIHYX caught my attention because of how steady it held during the very mini July selloff. Another one was NHYMX but it's a bit too conservative for my tastes. Let's hope the munis keep rolling.
Though I hate all those funds generally, I'll rise to defend it here. You loved it once. What swayed your affections? And honestly, from what I've seen, the guys running it are smarter than 90% of their peers.
I've thought of selling some cash, but do not consider the past few weeks a "correction." (More like a burp). The attention grabbing 700 points off on the Dow recently is the equivalent of only about 300 points just a few years ago when markets were more reasonably valued - YAWN
“A $21 billion fund is no harder to manage than a $4 billion fund, it still comes down to getting it right,” he said. “If I had a more active trading approach, it would be hard to manage this much money, but we operate from a very broad, macro-economic perspective. It might take us two weeks to get into a position instead of two days, but we always try to act deliberately over a long time period.”
http://www.investmentnews.com/article/20140612/BLOG12/140619969/the-20-billion-mainstay-marketfield-funds-chicken-or-egg-problem
I may add a bit more over the coming weeks.