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.
Reply to @slick: As Brazilian stocks continue to fare pretty weakly, I've looked to gain a little exposure and ABV, with its solid dividend policy (which looks as if it may be increased a bit) and rather broad appeal becomes kind of appealing at these levels as a buy-and-hold and just reinvest divs. NOT a large position by any means, but a bit.
Reply to @flume: Bogus list intended to scare people.
* Some generic statements like that of Warren Buffet is taken out of context. If Warren Buffett thinks stocks are about to crash, why is he keep buying... They paired a general purpose statement from Buffett with a particular time frame they are trying to justify. Notice that Buffett himself did not give a time other than business cycle and it is hard to know exactly where we are at business cycle in advance.
* Some of the so-called bears are perma-bears. They were bearish all past 3-4 or more years. What is their credibility?
* Roubini was actually recommending stocks recently.
I too thought it interesting that Morningstar was reporting zero turnover so when I checked the portfolio's holdings ... Well, that reflects something different as it shows that he has reduced some of his positions in a June 1st report. To me, buy and sell activity equals turnover. I have provided a link just incase you and others would like to have a look see for yourself. Still looks as though it is one of the better funds in its category and now scoring in the top 20%, or better, for its one, three and five year periods. There just might be something to its buy and hold strategy. Makes you want to stop and think ... a bit ... does it not?
I have no real clue as to what Mr. Holland might be doing in the private and/or managed account area. I thought that he has very impressive credentials (see link) so I began to study his retail balance fund.
I have found through the years that I could learn from top money manages by studying what they were doing. Years ago, I’d follow the Pearl Funds to see how they were positioning as they were one of the first to follow a fund-of-funds type approach. Once this became fashionable with the big investment houses their little investment house became no more. But, I did learn a lot and benefited by following them. Perhaps, some individual investors might learn something form Mr. Holland by following his stock selections and asset allocation through his balance fund.
It looks as though he is investing in large established companies, some with a global presence, that can grow both their earnings and revenue while at the same time being profitable.
Here is what I learned form review of the 06/01/13 report. The fund holds no bonds but does hold a good amount of cash. It has recently reduced some of its equity positions and reports no new positions nor any increases in its established equity positions.
I will soon be joining the ranks of the retired and I have already started celebrating my upcoing retirement. The markets concern me ... esecially, the fixed income area. Bonds unlike stocks are fixed in what they give you. However, good companies should grow thier revenue and earnings over time increasing the dividends that some of them pay out to their share holders. My portfolio, has some good dividend equity holdings that were inherited from my great grandfather, my grandfather and my father.
Years ago, the family decided to sell off farm land and move from growing cash crops from the soil to havesting cash dividends from what some companies pay out. Although I recently reduced some of my fixed income and equity holdings I am still with my great grandfaters master plan. "Let others work for you and collect the dividends through your capital investments." Smart man. And, his great grandson thanks him.
My thoughts ... Think trough this and play the hand as it is delt. Sometimes this is called folding the hand especially when the cards are against you. I think it prudent to respect, value and protect your principal.
Reply to @Skeeter. It made me think the same, he can be nimble. Why not sell my bond funds and put that cash in an ETF I have SCHD, a Schwab high quality dividend fund. Maybe not al. I still have 20% cash.
Not done anything in the past 2 weeks. I will be going to an overseas vacation until the end of month at a location where Internet access is likely to be questionable. So, I will most likely unable to access my portfolio along for the month of June For this week, my portfolio was flat, just a few dollars of gain.
Just sort of retired and am thoughtfully (I hope) repositioning/rebucketing. Adding to Jabax, Icmbx (thanks, MFO), Glrbx; interesting to watch these smart balancers (McGregor too) drift toward creating more 75/25 funds instead of their norm. Fretting bonds and may just sit in cash or, still fretfully, Dys and Des. Holding Pondx, Pdi, Aoa (AO_ set of four balanced ETFs is very handy to know about and compare). Sold large position in Cgmrx, a 35x hit, my only one in 30+ years; wondering if I should add Vnq, Vnqi, Frifx, and probably will. Holding all historical position in Flpsx, Prblx, Yackx, Sgoix, plus newer ones in almost all the low-vol newbies. Boy, Acwv sure bit it the last few weeks! My semiretirement appears forcible, so I am hoping we have the various moneys to make it 25+ years.
Comments
* Some generic statements like that of Warren Buffet is taken out of context. If Warren Buffett thinks stocks are about to crash, why is he keep buying... They paired a general purpose statement from Buffett with a particular time frame they are trying to justify. Notice that Buffett himself did not give a time other than business cycle and it is hard to know exactly where we are at business cycle in advance.
* Some of the so-called bears are perma-bears. They were bearish all past 3-4 or more years. What is their credibility?
* Roubini was actually recommending stocks recently.
Hi anderi,
I am not by any means speaking for Mr. Holland.
I too thought it interesting that Morningstar was reporting zero turnover so when I checked the portfolio's holdings ... Well, that reflects something different as it shows that he has reduced some of his positions in a June 1st report. To me, buy and sell activity equals turnover. I have provided a link just incase you and others would like to have a look see for yourself. Still looks as though it is one of the better funds in its category and now scoring in the top 20%, or better, for its one, three and five year periods. There just might be something to its buy and hold strategy. Makes you want to stop and think ... a bit ... does it not?
http://portfolios.morningstar.com/fund/holdings?t=HOLBX®ion=USA&culture=en-us
Skeeter
Hi ron,
I have no real clue as to what Mr. Holland might be doing in the private and/or managed account area. I thought that he has very impressive credentials (see link) so I began to study his retail balance fund.
http://financials.morningstar.com/fund/management.html?t=HOLBX®ion=USA&culture=en-us
I have found through the years that I could learn from top money manages by studying what they were doing. Years ago, I’d follow the Pearl Funds to see how they were positioning as they were one of the first to follow a fund-of-funds type approach. Once this became fashionable with the big investment houses their little investment house became no more. But, I did learn a lot and benefited by following them. Perhaps, some individual investors might learn something form Mr. Holland by following his stock selections and asset allocation through his balance fund.
It looks as though he is investing in large established companies, some with a global presence, that can grow both their earnings and revenue while at the same time being profitable.
Here is what I learned form review of the 06/01/13 report. The fund holds no bonds but does hold a good amount of cash. It has recently reduced some of its equity positions and reports no new positions nor any increases in its established equity positions.
http://portfolios.morningstar.com/fund/holdings?t=HOLBX®ion=USA&culture=en-us
To me, this speaks volumes. No bonds, reducing equity and raising cash. Anyway, that's my take-a-way.
Good Investing,
Skeeter
Hi ron,
I will soon be joining the ranks of the retired and I have already started celebrating my upcoing retirement. The markets concern me ... esecially, the fixed income area. Bonds unlike stocks are fixed in what they give you. However, good companies should grow thier revenue and earnings over time increasing the dividends that some of them pay out to their share holders. My portfolio, has some good dividend equity holdings that were inherited from my great grandfather, my grandfather and my father.
Years ago, the family decided to sell off farm land and move from growing cash crops from the soil to havesting cash dividends from what some companies pay out. Although I recently reduced some of my fixed income and equity holdings I am still with my great grandfaters master plan. "Let others work for you and collect the dividends through your capital investments." Smart man. And, his great grandson thanks him.
My thoughts ... Think trough this and play the hand as it is delt. Sometimes this is called folding the hand especially when the cards are against you. I think it prudent to respect, value and protect your principal.
My best,
Skeeter