Cullen Roche asked his readers what are their favorite mutual funds. Since the site really doesn't normally address this topic I thought it interesting what funds would be mentioned and if there would be similarities with funds that are mentioned on MFO. I personally don't agree with his opening sentence that mutual funds are mostly dinosaurs at this point. As of this post there were 31 comments. There are a number of funds mentioned that are highly regarded on MFO as well.
http://pragcap.com/readers-what-are-your-favorite-mutual-funds
Comments
Regards,
Ted
The Pragmatic Capitalist site focuses on understanding macro trends in a non-ideological way. For anyone with an interest in using actual historical and economic date, rather than politics, to understand economic theory, and monetary theory in particular, this site has been an extraordinary breath of fresh air over the past few years.
Cullen Roche has never discussed mutual funds before, as far as I can recall, so his question about favorite funds really comes out of the blue. Regardless, it's quite interesting and revealing, as Bud suggested above, that Prag Cap's readers immediately responded to his question by listing funds that most of us here at MFO would agree are the cream.
As for that sentence about most funds being dinosaurs, well, I was taken aback at first to read that too, but I'm not sure that we dedicated MFO readers wouldn't disagree given a few moments of reflection. When MFO readers have been polled about their holdings, there is a surprisingly small number of funds that gets cited out of a huge universe of funds on the market--most funds are, actually, poor investments compared to simply indexing. As Roche said, however, there are a few that add real value and that's what he was asking.
There are sections that goes over Modern Monetary Theory. I think those sections are very useful in understanding how the modern monetary system works with fiat currencies etc. A lot of people do not understand this and try to prescribe solutions from the gold standard era, complicating the matters.
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