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FAIRX has also been dinged by its large bets on Fannie and Freddie that never materialized. The fund bleeds 1% in ER as well. It is holding over 25% in cash.
M* categorizes the fund as Large Value with and investing style of small growth...emphasis on small...often negative growth. If that wasn't enough, Hurricane Micheal is slamming the panhandle where it's largest equity position, St Joe Co (JOE) holds most of its RE assets this week.
Finally, its trailing returns have been very consistent over the 1 month through 10 years time frame (rank 100th)...ouch.
In a way it's kind of sad. I remember as a kid that Sear's & Montgomery Wards pretty much ruled the world. Things change and stuff happens. Mostly I feel sorry for the rank and file who will lose their jobs and who knows what else.
If it's chapter 11 they still might have a chance of restructuring. Much like what Kodak did. In any case they will be small, struggling and insignificant in the stock trading world. Maybe just a slower extinction than chapter 7.
In a way it's kind of sad. I remember as a kid that Sear's & Montgomery Wards pretty much ruled the world. Things change and stuff happens. Mostly I feel sorry for the rank and file who will lose their jobs and who knows what else.
I guess we’re dating ourselves. When I began working in the Southeastern Michigan area in 1970 the local big sprawling mall was quite splendid. It’s three “anchor” stores were JL Hudson’s, Sears and Montgomrty Ward (affectionally known as “Monkey Ward”). All were very large beautiful multi-floor stores with virtually everything your heart might desire. Hudson’s was the most expensive of the three, specializing more in clothing, home furnishings and jewelry. Sears was squarely in the middle. Wards, while nice, catered more to the working class. KMart was big and rapidly growing in the outlying areas - but was “bargain-basement” compared to those other three and had no presence in the big malls.
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M* categorizes the fund as Large Value with and investing style of small growth...emphasis on small...often negative growth. If that wasn't enough, Hurricane Micheal is slamming the panhandle where it's largest equity position, St Joe Co (JOE) holds most of its RE assets this week.
Finally, its trailing returns have been very consistent over the 1 month through 10 years time frame (rank 100th)...ouch.
FWIW: JL Hudson’s apparently merged with the parent company of Target. While Hudson’s is history, Target lives on. https://en.wikipedia.org/wiki/History_of_Target_Corporation