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.
@guilhermes: If I'm going to give a fund manager my money, I expect he/she to put it to work in equities or bonds that will return a rate higher than CD's or MM with slightly higher risk. I consider any cash reserve in excess of 5-7% excessive. Otherwise I'm owning an expensive MM Fund. Regards, Ted
I'm reminded of Commendatore Fanfani, the fictional character based on Enzo Ferrari in Peter Ustinov's zany "reinactment" of the Grand Prix of Gibraltar. The interviewer asks Fanfani about the suspect brakes on his cars. With Italian aplomb, he answers, "Anyone can make a car go slow; it takes a genius to make it go fast."
Cash I can hold myself, but I give my dough to the "geniuses" to buy securities.
“Barabas saw the abyss too late; his focus had been only on the runner. He slammed on the brakes with both feet, ramming the pedal into the floorboard. The jeep skidded left to right, its inertia determined to sail him out over the edge. He threw the wheel hard left, hoping to avoid the inevitable, but it was too late. His speed was too great for the brakes to overcome; the jeep skidded sideways, finally slipping over the cliff into oblivion.”
Maybe even having good brakes is helpful but not enough, you may need to know where you are going. But that I find very hard to do - which is why I am personally prepared to buy funds such as ICMAX and PVFIX.
1) I want to invest 100% of my money I give it to fund manager that has mandate to be 100% invested.
2) I want to invest 5% of my money I give 50% of my money to fund manager that has mandate to be 100% invested.
3) I want to invest WHATEVER percent of Money, but I dunno how much. Or I want my manager to invest WHATEVER percent she thinks should be invested. I decide how much % of this money I want to give the THIS manager.
So I can't really understand why anyone wants to believe or not believe in this. This is not a matter of opinion as to why one should or should not invest in a fund which has a mandate of being invested 100% all the time. It's like saying I don't like to scratch my nose with my left hand. I'm talking about whether you want to scratch your nose or pick your nose not whether you used your left or right hand to do either?
Comments
Regards,
Ted
Cash I can hold myself, but I give my dough to the "geniuses" to buy securities.
“Barabas saw the abyss too late; his focus had been only on the runner. He slammed on the brakes with both feet, ramming the pedal into the floorboard. The jeep skidded left to right, its inertia determined to sail him out over the edge. He threw the wheel hard left, hoping to avoid the inevitable, but it was too late. His speed was too great for the brakes to overcome; the jeep skidded sideways, finally slipping over the cliff into oblivion.”
Maybe even having good brakes is helpful but not enough, you may need to know where you are going. But that I find very hard to do - which is why I am personally prepared to buy funds such as ICMAX and PVFIX.
2) I want to invest 5% of my money I give 50% of my money to fund manager that has mandate to be 100% invested.
3) I want to invest WHATEVER percent of Money, but I dunno how much. Or I want my manager to invest WHATEVER percent she thinks should be invested. I decide how much % of this money I want to give the THIS manager.
So I can't really understand why anyone wants to believe or not believe in this. This is not a matter of opinion as to why one should or should not invest in a fund which has a mandate of being invested 100% all the time. It's like saying I don't like to scratch my nose with my left hand. I'm talking about whether you want to scratch your nose or pick your nose not whether you used your left or right hand to do either?
Why is everything in life so hard to explain?