TMSRX - holding its own

JD_co

TMSRX must be utilizing some derivatives options if it went up on day like this (when both stocks and bonds are down). It has the latitude to do so, and its nice that the fund actually seems to be making use of these instruments.

Really impressed by how it held up last Feb/March as well. Lets hope they can keep it going.

TMSRX was the only green I saw today (other than PVCMX). I've been adding to positions in TMSRX and HMEAX, as they have been my steady eddies. Can't get too excited about bonds, and stocks (Tech) are frothy, so these are decent alternatives.

AndyJ

Yep, TMSRX sure looks good. Value, especially small cap, and some foreign did ok today in equities, but looks like just about the last bastion in debt - structured credit - may be stalling out and be on its way down.

This is the third time just recently the S&P 500 has brushed up against the 50 day moving average. Wonder what happens next ... Hussman could finally be a hero.

Edit: munis seemed to do much better than taxable core debt funds today. Two Nuveen munis I keep an eye on were even up a penny, one junk and one intermediate core-plus-ish.

TheShadow

BIVRX was up 5.88% for the day; small increases in BRUSX, LLSCX, and GPMCX.

BenWP

I like what TMSRX is doing, also. Small value (CSB) was a relief today among a sea of red.

JD_co

AndyJ said:

... Hussman could finally be a hero.

That (rarity) is never a good thing.

fred495

But why, in a sea of red ink, is a RCTIX, multisector bond fund, up 0.73% today? Anybody have clue?
Thanks,
Fred

Sven

In addition to TBSRX, small cap value, value, international value, energy, high yield and bank loan funds are in black. It is almost the opposite from last year.

KHaw24

To those that are investing in TMSRX, what % of your portfolio are you allocating?

hank

KHaw24 said:

”... what % of your portfolio are you allocating (to TMSRX)?

TMSRX = 16.87% of portfolio. My largest single holding. Part of a 33% targeted commitment to alternatives. (PRPFX and ABRZX comprise the remainder of alternative sleeve.)

Different strokes for different folks.

Baseball_Fan

Trimmed back to ~5% of total portfolio.

No doubt, T Rowe team tenacious and bright, solid reputation. I've seen Giroux and Sebastien Page, head of Global Multi Asset and Chair of Asset Allocation Committee on Wealthtrack. Intense, knowledgeable, rational, well spoken, nothing kooky about them (I just don't want any of my monies run by screwballs, eccentrics or kooky folks, go figure right, but believe me, you see them in all industries) It appears to me that they have a very collegial, professional and competitive environment at T Rowe Price, those folks play to win. Of course I don't work there and would not know, but based on the demeanor during the interviews I've seen, I believe that to be the case.

Still more than a bit concerned about the swaps and derivatives in TMSRX, what would really happen for some outlier event which seem to be happening almost on a regular occurring basis lately? I'd like to ramp up to 15% of portfolio but right now, chicken little, likely got stung in IQDAX.

Phasing into PMEFX (Penn Mutual AM 1847 Income) and FEVAX (First Eagle US Value), nibbling at ARTTX (Artisan Focus) on hard down days past couple weeks, fading VLSAX (Virtus Kar L/S) which has done really well for me up until the past few months where the shorts in re opening stocks have hurt and the high flyer tech stocks have been hit in the past few weeks

Good Luck to All, enjoy the improving weather,

Baseball Fan

Ben

TMSRX is just under 3% of my portfolio. I made a cautious initial purchase of shares last year. I expect to increase my investment there. That said, it is the only investment I have made whose workings I don't fully understand. That accounts for my cautiousness.

AndyJ

TMSRX = 10% of my port. That may go up a bit; have been taking some profits and have some extra cash lying around at 0.01%.

Derf

TMSRX 2%. Will go to 5% sooner or later.
Enjoy the weather, Derf

JD_co

TMSRX is only 1% for now, but will likely grow to 5% - 8% as I get more comfortable with it and add more along the way. So far, so good.

That IQDAX story disturbs me, but hoping that's more of a "one-off" situation.

BenWP

Of our actively managed accounts, cash is 22%, fixed is 9%, and TMSRX is 34%.

Bitzer

TMSRX down .56% today. I know it's only one day's performance, but any ideas what happened?

hank

Bitzer said:

TMSRX down .56% today. I know it's only one day's performance, but any ideas what happened?

LOL - @Blitzer, The fund is not meant to be understood.

Honestly, your guess or mine would be as good as anyone’s. I suspect they short some major equity indexes. Looks like the DJI tacked on over 500 points today.

Newton’s Third Law? “For every action ...”


Added: Than there’s the take on things of this sort from Peter, Paul, and Mary ...

“It went "Zip" when it moved, and "Bop" when it stopped,
And "Whirrr" when it stood still.
I never knew just what it was and I guess I never will.”

JD_co

I jinxed it with this thread.

But it can't be expected to go up on both UP market days and DOWN market days. It's clearly holding a nice slug of short positions/hedges right now. Very defensive for the moment, so it lost out today.

carew388

I increased my allocation to TMSRX in my Fidelity IRA accounts ensuring the decline of its swaps and derivatives today!

hank

Hope my light-hearted remarks above didn’t offend. I’ve owned TMSRX nearly from the start. You’ll do better in a low cost equity fund over a longer time period. But for those with shorter time horizons or who are skeptical of current equity valuations it’s a decent alternative. If you read the prospectus you’ll realize the fund pursues 5 (or more) different investing styles. Last time I checked, each approach was being managed by a different person. The fund’s goal is to make money in any kind of equity market. Up, down, sideways.

Derivatives? Of course. Shorts? Yes. Higher fees? Yes - but reasonable compared to peers. This is an area of investing where more funds fail than succeed. My modest investment rests partially on years of experience with T. Rowe and a belief that if anyone can make this approach work, they can. Notwithstanding the above - I fully expect the fund to experience some 5-10% down years.

Old_Joe

You jokers don't kno nothin. I bought 10k today. THAT's why it go down. Stand by for more worser on this.

AndyJ

Here's a light-hearted remark to follow Hank's. Hussman's HSGFX lost less Friday than TMSRX, and per M*'s Port Mgr, leads TMSRX on 1 week, 1 month, year-to-date, 3 month, and 1 year returns. You have to look back to 3y among the usual metrics to find TMSRX ahead.

And no, I'm not planning on giving him any of my cash. Yet.

stillers

d