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Palm Valley Capital at TD Ameritrade

David_Snowball
edited August 2020 in Fund Discussions
Hi, guys.

For what interest it holds, Palm Valley Capital is now available through TD Ameritrade. I assume that it will be added to the Schwab list soon, given the acquisition of TD by Schwab. The advisor is still working on Fidelity.

$11.7 million, with modest but steady inflows. 1.27% e.r. The managers have between $100-500,000 in, each, plus their stake in the adviser.

72% cash and up 15% YTD, 16.4% over the TTM. Depending on whether you consider it small value or small core, it's beating its peers by 25 - 30% YTD. It has the second highest returns YTD for either group.

Small core is led by Aperture Discovery Equity (ADISX), a fund with a record of less than a year which is advised by the US branch of a fairly large UK adviser. It's a long/short small cap fund that reportedly it booked a 60% gain in Q2. High expenses, negligible investment minimum with a manager from the private investment world; most recently, Diker Investments LLC, a small- and micro-cap specialist.

Small value is led by NorthStar Micro Cap (NSMVX), a hedge fund that converted about 10 years ago. We profiled their dividend fund last year. Neither Aperture nor North Star holds much cash.

I'll move some of my TD cash into Palm Valley today. I know that Mr. Cinnamond's discipline will disappoint then infuriate investors after small caps have had an extended run and are getting, by his lights, frothy, but I'm not sure that's an immediate concern.

For what interest that holds,

David

Comments

  • MrRufflesMrRuffles
    edited August 2020
    Might be a glitch but, right now, TD describes Palm Valley as closed to new investors.

    Edit: But you can enter a trade.
  • sma3
    Thanks for the update. The only downside to PVCMX finding decent entry points at the march bottom and then it's stellar performance since is that Eric Cinnamond is not writing as many commentaries about stocks and the market as he used to, as he says he is too busy finding things to buy.

    Unless you believe FANGAM will grow forever and TSLA is a sure bet diversification with a capable small cap manger is a good idea
  • Dennis Baran
    @MrRuffles The fund is open at TD: NTF $2500 Regular and IRA. $0 for additional buys. Fund listed as closed because TD gets their fund information from M*, their third party vendor, and M* has not updated the fund I'm told.
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