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" as these guys know what to do in this environment"
He previously ran cash-heavy portfolios with an Aston River Road fund ARIVX and at Intrepid Capital.
the fund is currently available directly (our website) and through Pershing and Vanguard. Vanguard is likely the easiest way to buy for most of your readers. We continue to try to get on TD, Schwab, and Fidelity...it's been a bear! They want us to be bigger, but to be bigger we need to be on their platforms. We've had several advisors contact us wanting to buy the strategy, so we're hoping as more advisors request the strategy the better chance we'll have getting on the platforms. Also, we just published our quarterly letter. https://www.palmvalleycapital.com/fundletter
ET91 said:Hi VintageFreak, This is none of my business but did you buy/sell after 30 days due to wash sale rule. Unless you can argue that PVFIX Is a micro-cap and PVCMX is a small cap?
Hi VintageFreak, This is none of my business but did you buy/sell after 30 days due to wash sale rule. Unless you can argue that PVFIX Is a micro-cap and PVCMX is a small cap?
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You stated: What does this mean?
NAV pricing for the past 12 months.
They may find their time to shine.
The current flood of inflows brings them to almost $6 million!
I've written Mr. Cinnamond to double-check on distribution.
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ARIVX looked bad because it was over 90% cash while the market was booming. Factor out the cash drag and the individual stock picks were very good, on whole.
I would start an account at Vanguard or set up a direct account
Also we have to look forward. Small Value. I'm sorry but he started fund this time at right time and doesn't have much invested. I don't see how Vanguard Small Cap value index does worse going forward if market is going to recover. I'm going to wait.
Admittedly, his fund is the only one of my holdings with a positive return so far this year (probably because he had mostly cash - but there were a few down days), and I do think this is his kind of market. While it might be difficult to buy his purchases in a timely fashion, this probably is a good entry point for the fund, if one can stand the ER. (I think I've convinced myself to buy some more, but I do hate the ER.)
The following is from the last report. As expected PVCMX had over 92% in cash on 1/1/2020 and probably in 2019 too.
The Palm Valley Capital Fund gained 0.79% for the quarter ending March 31, 2020, while the S&P Small Cap 600 and the Morningstar Small Cap Indexes lost 32.65% and 31.61%, respectively. The Fund began the quarter with 92.4% of its assets held in cash and equivalents and ended the period with 52.0% cash.
I will pass on this fund..."fool me once, shame on you. fool me twice, shame on me."
I think that's wrong. I also think it doesn't reflect the world we live in and the Fed we've got. And I don't want to invest with an ideologue whose ideology guides his investing. More the pity because it seems like when he does buy stocks, he picks good ones.
Full disclosure, I did end up initiating a position with PVCMX. But only because I wanted to keep some "small value", I can buy at Vanguard and I sold of my PVFIX and booked a tax loss.
I tried doing Fund Compare on M*, but PVCMX is not enabled for that right now. I see it as "Small Blend" while PVFIX is "Small Value". If you look at the holdings there is not a single one that is common - PVFIX you can fund on M*, PVCMX you can find on their website.