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This episode is very informative on Giroux’s in-depth stock selection for PRWCX. A 5-year investment horizon is certainly more than most active managers. Wish he would talked a bit o the bond sleeve.
Here is what I found through T. Rowe Price site on the newly launched TRP Capital Appreciation & Income. A bit more information on the breakdown of different bond sectors the fund is invested.
Within the Capital Appreciation and Income Fund’s fixed income allocation, we hold a healthy mix of U.S. Treasuries, high-quality BB and BBB bonds,5 and bank loans. Looking at the current environment, we think BB and high‑quality bank loans create a compelling opportunity to generate equity-like returns while taking on less risk than the broader equity market.
@Sven, the next episode (2) is already out. Someone shared it last week on a different thread - you can search for it or find it at WealthTrack.
@WABAC posted last week briefly about the bond sleeve on a different thread. If you have access to M*, the bond sleeve data is as of 12/31, which I take it as current for our purposes.
well, they cant all be gems. am not familiar with jason's objective track record, but this was a clown show. a primary thesis based on DOGE and possibly EU adopting such? one of the founding dolts is already booted.
massive power needed for AI ! (which had its first inefficiency retort via china. like india, both nations can still surprise doing more with less.)
the last straw, for the scientist in me, was after pumping SMRs (presumably based on the new head of DOE 's personal investments), jason made the following statement : "The technology, unfortunately, is not quite there for solar and wind."
Outspoken and influential market economist David Rosenberg reflects on the extraordinary bull market of the last two years and why he isn’t changing his bearish outlook.
rosenberg takeaway : - his past models were wrong, in that they did not predict sentiment would move the equity risk premium to zero or negative. (currently 3X historic annual growth, for next 5 years, is priced into valuations) - many canadian stocks are better bargains than u.s., given valuations and exchange rates. exposed to many identical themes. - models expects recession (2026?) and unemployment spike, suppressing inflation. - midterm safe bonds are in a good risk:reward position compared to u.s. equities.
my inferior intuition is screaming that inflation is not so easily killed as long as nearshoring is supported, and it will move violently through different sectors as always.
I've listened to David Rosenberg in the past but haven't viewed the current Wealthtrack episode. Rosenberg is smart, experienced, and articulate. IIRC, he has been bearish for a very long time. Fortunately, his analysis/assertions did not influence my investment decisions.
Comments
Here is what I found through T. Rowe Price site on the newly launched TRP Capital Appreciation & Income. A bit more information on the breakdown of different bond sectors the fund is invested. https://troweprice.com/personal-investing/resources/insights/bringing-a-tested-investment-process-to-a-new-wider-market.html
@WABAC posted last week briefly about the bond sleeve on a different thread. If you have access to M*, the bond sleeve data is as of 12/31, which I take it as current for our purposes.
well, they cant all be gems. am not familiar with jason's objective track record, but this was a clown show.
a primary thesis based on DOGE and possibly EU adopting such? one of the founding dolts is already booted.
massive power needed for AI ! (which had its first inefficiency retort via china. like india, both nations can still surprise doing more with less.)
the last straw, for the scientist in me, was after pumping SMRs (presumably based on the new head of DOE 's personal investments), jason made the following statement :
"The technology, unfortunately, is not quite there for solar and wind."
what is your take on SMRs and nuclear in general from a climate and general impact on earth POV?
see SMR post in 'other investing'
- his past models were wrong, in that they did not predict sentiment would move the equity risk premium to zero or negative. (currently 3X historic annual growth, for next 5 years, is priced into valuations)
- many canadian stocks are better bargains than u.s., given valuations and exchange rates. exposed to many identical themes.
- models expects recession (2026?) and unemployment spike, suppressing inflation.
- midterm safe bonds are in a good risk:reward position compared to u.s. equities.
my inferior intuition is screaming that inflation is not so easily killed as long as nearshoring is supported, and it will move violently through different sectors as always.
Rosenberg is smart, experienced, and articulate.
IIRC, he has been bearish for a very long time.
Fortunately, his analysis/assertions did not influence my investment decisions.
https://bnnbloomberg.ca/search/?query=rosenberg
Mike Wilson of Morgan Stanley is another bearish strategist.