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Anyone else concerned about this fund and the manager's stock choices over the past year? I started to question Spencer when he bought a large stake in Tesla then dumped it abruptly. Now, he's all in with Tencent and semiconductors, which have been getting crushed lately. The fund has had a disappointing year, that's for sure. Thoughts?
I like that Spencer trades in/out of TSLA the way he does. He's done okay with it thus far, though I didn't like that it was 12% of the portfolio at one point -- when I began to trim my PRGTX holding.
PRGTX is a great fund and I like it b/c it doesn't hold the usual suspects - FAANGS, etc. It marches to its own drummer, is globally diversifed and isn't market weighted. It's still a keeper in my book.
By contrat, QQQ is market-cap weighted and is not exclusively focused on technology.
@rforno: Beg to differ with you on PRGTX being a great fund. It's perfromance over the last fifteen years doesn't match what I consider to be a great fund. You are right on QQQ's sector allocation only 56% technology, about 25% in Consumer Staples/Discretionary and 9% in Healthcare, that's what makes it a great fund. Regards, Ted PRGTX: 15yrs. 1st Percentile 10yrs. 4th Percentile 5yrs. 7th Percentile 3yrs. 46th Percentile 1yr. 89th Percentile YTD: 91st Percentile
It is my largest equity fund holding, a bit larger than my VDIGX, but because it is so concentrated with 33 stocks, I also hold CMTFX (CTCAX is the retail version load free and ntf at Fido) in another portfolio which is a bit more traditional in its holdings, a bit less volatile, has a solid history and holds 128 stocks. I agree with RForno as to the trp fund being less traditional, and its why I bought it too. Im hanging in there too unless over a longer period of time it deteriorates and fails to correct within a reasonable time frame.
Very enlightening comparisons among these funds. While it does not have the long-term record of the cubes, RYT has been my choice in technology. For the last three years it has been a winner.
Very enlightening comparisons among these funds. While it does not have the long-term record of the cubes, RYT has been my choice in technology. For the last three years it has been a winner.
I like that Spencer trades in/out of TSLA the way he does. He's done okay with it thus far, though I didn't like that it was 12% of the portfolio at one point -- when I began to trim my PRGTX holding.
PRGTX is a great fund and I like it b/c it doesn't hold the usual suspects - FAANGS, etc. It marches to its own drummer, is globally diversifed and isn't market weighted. It's still a keeper in my book.
By contrat, QQQ is market-cap weighted and is not exclusively focused on technology.
Personally, I didn't like that he traded in and out of Tesla, especially since it was his largest holding at one point. To me, that indicated high conviction. Suddenly, it was dumped. Now, it's Tencent Holdings. His semiconductor picks have been less than stellar as well. I guess I wouldn't be as concerned if his picks had panned out. As we all know, Tesla has been a rollercoaster ride. Now with the SEC making inquiries, it could continue to be a very volatile stock.
Looking at its latest holdings I'm less enthused than I was previously. Having taken several rounds of profits from it, I'm presently down to a foothold in this (closed) fund but won't be adding to it anytime soon.
Spencer has been trading a lot this year (over 200% turnover according *M). So that makes it particularly discouraging since he's been getting it wrong even with a lot of turnover.
Yes, it has been all over the place. For awhile it was playing Tesla and next report he exited the entire position. He is back investing in the big cap growth stocks. A real disappointment for sure.
Comments
Regards,
Ted
QQQ Annual Perfromance:
http://performance.morningstar.com/funds/etf/total-returns.action?t=QQQ®ion=USA&culture=en_US
I like that Spencer trades in/out of TSLA the way he does. He's done okay with it thus far, though I didn't like that it was 12% of the portfolio at one point -- when I began to trim my PRGTX holding.
PRGTX is a great fund and I like it b/c it doesn't hold the usual suspects - FAANGS, etc. It marches to its own drummer, is globally diversifed and isn't market weighted. It's still a keeper in my book.
By contrat, QQQ is market-cap weighted and is not exclusively focused on technology.
Regards,
Ted
PRGTX:
15yrs. 1st Percentile
10yrs. 4th Percentile
5yrs. 7th Percentile
3yrs. 46th Percentile
1yr. 89th Percentile
YTD: 91st Percentile
QQQ:
15yrs. 2nd Percentile
10yrs. 1st Percentile
5yrs. 1st Percentile
3yrs. 2nd Percentile
1yr. 19th Percentile
YTD: 13th Percentile
I'm looking at RYT for my long-long term portfolio, actually. For that conservative account I like the equal-weighted feature of that fund!
Looking at its latest holdings I'm less enthused than I was previously. Having taken several rounds of profits from it, I'm presently down to a foothold in this (closed) fund but won't be adding to it anytime soon.