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the May MFO is live!

David_Snowball
in Fund Discussions
Albeit a bit delayed by what seemed like a pretty routine respiratory infection about which my doctor, a generally delightful young practitioner, decided to get all apocalyptic. Missed three days of classes, which is a 41-year record for me, but I'm chugging along just fine.

Highlights of the issue are Lynn Bolin's ongoing attempts to help us think clearly in turbulent times, most particularly about the possibility that fixed-income funds are actually more attractive in their environment than growth funds.

Quick Launch Alert on the latest member of TRP's Capital Appreciation suite, Premium Equity Income. My reading is PRWCX with an options overlay.

Profile of Dynamic Alpha Macro, which mates a low-cost equity ETF sleeve with a macro hedge fund. More correctly, the futures trading sleeve is advised by the manager of a hedge fund which also, and separately, embodies the strategy. Though Dynamic understandably doesn't talk about the hedge fund with appears to have returns north of 10% APR over 10+ years, with a correlation to the S&P 500 of -0.1.

Updates on Chaos-Resistant portfolios, including a tip of the hat to Lewis Braham's fine essay on the subject.

Charles has added functionality to MFO Premium (daily fund flows?) and The Shadow continues to highlight the industry's activities, including what seems to be an impulse to convert funds to ETFs rather than liquidate them.

For what joy that all brings!

David

Comments

  • Observant1
    edited May 9
    I enjoyed the inaugural article and the article for "building a chaos-resistant portfolio".
    I haven't had an opportunity to read all the May 2025 articles yet...
    Glad that you're chugging along just fine!
  • LewisBraham
    Hey David, thanks for the shoutout. The challenge is to try to find order in the chaos.
  • Old_JoeOld_Joe
    Hey David- I'm glad that you had the sense to pay attention to your young doctor. At our ages fooling around isn't a great idea. As you have suggested to me a few times over the years- "Try to be good!"
  • Sven
    edited May 9
    Once again, thank you to Professor David Snowball and his team’s great contribution for these chaotic times.
  • Mitchelg
    Liked the TCAL article. I own it and received the first 7% monthly dividend.
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