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Which fund (that you own) disappointed you the most in 2012?
Reply to @Investor: This year bonds in general have very well relative to precious metals. Most of my bond positions return more than I expected - >10% total return. Multi-sector, junk and emerging market debts (dollar and local currency based) have done the best. Going forward the returns may be more subdue. Thus I continue to hold about at least 50% in global equities.
Reply to @Sven: I am about 2/3 equities in my portfolio. About half my equity position is international. I think I have pretty good exposure to risk assets. So, the change I have made above probably keeps my risk exposure relatively the same. PONDX and SUBFX have had great 2011. I am not sure if they will continue like that but I am taking a chance with them. I had moved my holdings in RPHYX into PONDX in September. I was not disappointed with that move. Given FED will continue to purchase bonds there could be more upside. A few bond experts here are also in it. If they jump, I will evaluate my situation then.
Reply to @BobC: DEFIX has done well this year, but the smaller, more concentrated TSELX (profiled previously on MFO) from the same managers has not done as well. My impression is that TSELX is supposed to be more representative of the team's best ideas, so I don't think it bodes well that their top picks have been lagging.
Not sure disappointing is the right word, but I will not invest in precious metal mining funds again. After probably 5 years of watching holding these funds at varying percentages, I've decided they are just way to volatile for my taste. I held USAGX and TGLDX years and sold these positions in 2012. Never again.
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