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.
I love the portfolio managers at Cook & Bynum COBYX. But, they still charge 1.49%. Granted, they are still small (but no longer fledgling) at $138M AUM.
Ditto for FPACX. Mr. Romick has done very well. But even this "Investor First" house charges too much at 1.16% on $15B AUM. Here's what M* thinks about the price of this (otherwise) Gold rated fund:
And then there's ARIVX at 1.42%, $727M and 64% cash...don't get me started. But, again, I love the manager, just hate the ER.
I think, with a good number of value fund mangers now holding sizeable cash positions then this is sending a message to the average investor that perhaps they might take a look at this to see if this might be a fit for them and to increase their own cash position. Now for traders and speculators perhaps it is their strategies that have run the market upward to current high valuations where many now think that stocks, in general, have become overbought.
I have linked Morningstar's Market Valuation Graph below for viewing that reflects a current overbought condition for stocks, in general.
I am of the thinking that stocks are overbought at this time ... and, whay pay $105.00 for $100.00 worth of assets? I like to buy when stocks are selling at discounts.
Comments
Harder to swallow, however, when ERs are high.
I love the portfolio managers at Cook & Bynum COBYX. But, they still charge 1.49%. Granted, they are still small (but no longer fledgling) at $138M AUM.
Ditto for FPACX. Mr. Romick has done very well. But even this "Investor First" house charges too much at 1.16% on $15B AUM. Here's what M* thinks about the price of this (otherwise) Gold rated fund:
And then there's ARIVX at 1.42%, $727M and 64% cash...don't get me started. But, again, I love the manager, just hate the ER.
I have linked Morningstar's Market Valuation Graph below for viewing that reflects a current overbought condition for stocks, in general.
http://www.morningstar.com/market-valuation/market-fair-value-graph.aspx
I am of the thinking that stocks are overbought at this time ... and, whay pay $105.00 for $100.00 worth of assets? I like to buy when stocks are selling at discounts.
I wish all ... "Good Investing."
Skeeter