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"Giroux feels the stock market broadly is expensive, has a higher-than-usual stake in US Treasuries, and has been building cash while waiting for more names to look attractive. In the meantime, he sees potential from his usual fare of contrarian positions, such as beaten-down UnitedHealthcare UNH and engineering software company PTC."
Bank loan funds are lagging money market this year. So does high yield bonds. They had their run in the last several years. Think it is time to go higher quality and perhaps venture into longer duration.
PRWCX typically has 8-10% invested in bank loans, double digit in treasury and cash. It would be wise to watch them closely.
It's fun for me to keep tabs, daily. I own them all except FALN. I used to own FALN, got out with a tiny profit. If I want such volatility, I can depend on my single stocks for that.
Longer term numbers mean more. But the frame here in this thread is more recent.
not sure giroux is more enthusiastic for bank loans than type floating rate. but i buy into his thesis that private credit boom has resulted in bank loans getting safer than their possible rating.
Comments
PRWCX typically has 8-10% invested in bank loans, double digit in treasury and cash. It would be wise to watch them closely.
PRWCX .84
TUHYX .96
PRCPX 1.26
PRCFX .97
FALN 1.56 higher quality junk.
It's fun for me to keep tabs, daily. I own them all except FALN. I used to own FALN, got out with a tiny profit. If I want such volatility, I can depend on my single stocks for that.
Longer term numbers mean more. But the frame here in this thread is more recent.
not sure giroux is more enthusiastic for bank loans than type floating rate.
but i buy into his thesis that private credit boom has resulted in bank loans getting safer than their possible rating.