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.
FYI: (Click On Article Title At Top Of Google Search)
James Michal can invest Guggenheim Macro Opportunities fund in nearly anything.
He can buy nearly any bond, stock, currency, or alternative for his Guggenheim Macro Opportunities fund. Today, he sees the most opportunity in bank loans and asset-backed securities. Shayan Asgharnia for Barron’s Regards, Ted https://www.google.com/#q=Distressed+Investing,+Not+Investors+barron's
Today, he sees the most opportunity in bank loans and asset-backed securities.
Is there anybody that does not like bank loans?? They have been stellar now for the past year along with junk corporates and emerging markets bonds. But this universal consensus worries me to death. From being 100% bank loans in late fall I am now 55% junk and 45% bank loan which is the reverse of where I was last week.
Of course junk worries me to death too. At least there I am comforted by the fact that the ultimate junk bond guru on the planet is still saying they are ridiculously overpriced. Something he has been saying for the past 15% on the upside. Then again, in this game it pays to always worry and not be complacent. That way you don't get blindsided by the likes of a 2000-02 or 2008.
Edit; Being a stickler for detail make that 58% junk bonds 42% bank loan
I have always found it interesting and informative to read your comments and value your perspectives.
I guess, a little of Junkster has rubbed off on me because my broker currently thinks I've got too much aggressive income within my portfolio. Perhaps so, but I am on the verge of adding more. Looking (pondering) to adding to my LBNDX position.
Comments
Is there anybody that does not like bank loans?? They have been stellar now for the past year along with junk corporates and emerging markets bonds. But this universal consensus worries me to death. From being 100% bank loans in late fall I am now 55% junk and 45% bank loan which is the reverse of where I was last week.
Of course junk worries me to death too. At least there I am comforted by the fact that the ultimate junk bond guru on the planet is still saying they are ridiculously overpriced. Something he has been saying for the past 15% on the upside. Then again, in this game it pays to always worry and not be complacent. That way you don't get blindsided by the likes of a 2000-02 or 2008.
Edit; Being a stickler for detail make that 58% junk bonds 42% bank loan
I have always found it interesting and informative to read your comments and value your perspectives.
I guess, a little of Junkster has rubbed off on me because my broker currently thinks I've got too much aggressive income within my portfolio. Perhaps so, but I am on the verge of adding more. Looking (pondering) to adding to my LBNDX position.
http://www.morningstar.com/funds/XNAS/LBNDX/quote.html
Take care ... and, thanks again for posting your thoughts. It is much appreciated.
Skeet