Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Hi Scott. Shifted a bit into Price's Japan fund PRJPX last week after hearing Jeff Everett speak highly of Japan's prospects. Been considering this for quite a while anyway so he confirmed my thinking. (Simply stated: What else can go wrong?) Everett was successful with Franklin Templeton years back. Now runs a hedge fund. Amount is less than 2% of assets, so not gonna make alota difference. Should be fun to watch. Take care.
Hi Scott, Not a cash fan here and have 15% of negative money rotting on the money tree. May move some to FSHBX (Fido short term bond) and FRIFX (Fido real estate income). Regards, Mark
Hi Catch. Guess we're keeping the same time tonight. (-: (-: BTW: I wouldn't consider cash to be "rotting money." Plus, your doing pretty good as positioned if I recall correctly.
Howdy hank, Well, cash is cash; of which I/we have not been accustomed to; and I don't intend to imply those with fairly large cash positions have cranial/rectal inversion. It is safe money from direct market risk, with the exception that the expense of Fido's MM fund is and will create negative money. For about the same expense, we can hang the money in the Fido short term bond fund tree and hopefully move ahead a tiny bit without much market risk. If we may get 10-12% this year with our holdings, I will not complain.
It appears, aside from special sector or equity sectors; that folks are still chasing yields as in HY, real estate and related decent dividend funds.
Will check tonight as to whether the congressional kids have a fist fight regarding the debt ceiling and such.
I don't think the market traders give a rip one way or another about the debt; at this point on the calendar.
I was not in buying mood yesterday but I added a small amount (~1% of total portfolio) into existing funds in my self-directed 401k account today (ARTKX, OAKIX, GRTVX, PRPFX).
For those that follow my post know that I have over the past three months ... March, April and May ... reduced my equity allocation from around 70% to 55%, and raised cash by a like amount, to ride out the traditional slow months for the stock market through the summer months. I may do some short term spiff buying during the summer in the S&P 500 Index in the 1290 range and back there of. Hopefully, by fall things will be looking better.
Right now, I am sitting tight accuring interest and dividends within my portfolio and building cash for future "opportunity" buys plus putting a little spiff in my pocket.
Keeping cash at about 12-13%. I'm doing selective buying (averaging in or adding to existing positions) of individual equities as they go on sale (i.e., become very oversold without a change in their fundamentals).
Bought more AQR Risk Parity and Rivernorth/Doubleline Strategic, both of which I've been very pleased with. Also bought a bit more commodity (not commodity stock) funds.
bought some PAUDX and PGMDX in a small IRA. Completely exited MXXVX today.
Previously eliminated 50% DEFIX and 100%TMCGX. Looking at ARIVX as replacement for latter at opportune time. Was also waiting to enter position in FMIJX. Looks like I will be getting an opportunity soon.
Am unlikely to outright sell shares of remaining funds I own. But will take FIFO profits for sure. Seems like we are going to have a "Sell in May and Go Away" correction.
Scott, pray tell me HTF you bought AQR Risk Parity. Minimum is $1,000,000. Unless of course you don't particularly want to to tell me you are rich.
Well, the folks at Scottrade apparently do not know this and are asking for 1,000,000. Which needless to say is totally ridiculous.
Let me go find an individual who manages his/her own IRA, wanting to use NTF funds, and has $1,000,000 to invest. In the meanwhile, can any one tell me if Schwab, Fidelity also allow AQRNX without minimum?
Every brokerage appears different. Ameritrade has no min/NTF for D shares of pimco funds in both IRAs/Non-IRAs. Etrade has no-min for ALL Pimco shares in IRAs only. Ameritrade has some Pimco admin shares no-min. Etrade has Loomis Sayles Bond/Global bond NTF/No min in IRAs. Etc etc.
As for the AQR funds, they used to be $5K minimum across the board. Then the minimums were all raised to $1M. Some AQR funds at some brokerages still reflect the $5K or in some cases are 0 min, but otherwise, $1M is the norm for the AQR funds.
Bought a little today. I added about 1.5% to equities, mostly domestic and a tad of EM.
Not sure if we are closer to the end or the beginning of a "correction", but I know I cannot predict the top or bottom, so I dabbed a little.
I have learned over the years that being a contrarian works more often than it doesn't, so when most act as if we are heading for a double-dip (as is the case now), this is the time to buy. JMHO!!!
Now that the S&P 500 Index is in the 1290's ... I made a small short term spiff investment, on June 7th., from some of the cash I pulled to the side ... I'll probally let it got around S&P 1310 range for an anticipated 2% gain. Mind you, this is a spiff investment, I expect the S&P 500 to tick lower into the summer.
Sold majority of equity the past few weeks, now sitting in cash. Rodriguez (FPA Funds), Grantham (GMO), Mobius (Templeton), Klarman (Baopost); Marks (Oaktree) -- to name a few -- ALL saying the same thing; disaster looming sooner rather than later. I'd rather spend too much time in cash and miss 5% to 10% upside than risk losing a potential 20%+ on the downside, i.e., the risk/reward isn't worth it at these prices (broadly speaking).
Comments
Not a cash fan here and have 15% of negative money rotting on the money tree. May move some to FSHBX (Fido short term bond) and FRIFX (Fido real estate income).
Regards,
Mark
BTW: I wouldn't consider cash to be "rotting money." Plus, your doing pretty good as positioned if I recall correctly.
Well, cash is cash; of which I/we have not been accustomed to; and I don't intend to imply those with fairly large cash positions have cranial/rectal inversion. It is safe money from direct market risk, with the exception that the expense of Fido's MM fund is and will create negative money. For about the same expense, we can hang the money in the Fido short term bond fund tree and hopefully move ahead a tiny bit without much market risk. If we may get 10-12% this year with our holdings, I will not complain.
It appears, aside from special sector or equity sectors; that folks are still chasing yields as in HY, real estate and related decent dividend funds.
Will check tonight as to whether the congressional kids have a fist fight regarding the debt ceiling and such.
I don't think the market traders give a rip one way or another about the debt; at this point on the calendar.
Take care of yourselves,
Catch
For those that follow my post know that I have over the past three months ... March, April and May ... reduced my equity allocation from around 70% to 55%, and raised cash by a like amount, to ride out the traditional slow months for the stock market through the summer months. I may do some short term spiff buying during the summer in the S&P 500 Index in the 1290 range and back there of. Hopefully, by fall things will be looking better.
Right now, I am sitting tight accuring interest and dividends within my portfolio and building cash for future "opportunity" buys plus putting a little spiff in my pocket.
Good Investing,
Skeeter
rono
Previously eliminated 50% DEFIX and 100%TMCGX. Looking at ARIVX as replacement for latter at opportune time. Was also waiting to enter position in FMIJX. Looks like I will be getting an opportunity soon.
Am unlikely to outright sell shares of remaining funds I own. But will take FIFO profits for sure. Seems like we are going to have a "Sell in May and Go Away" correction.
Scott, pray tell me HTF you bought AQR Risk Parity. Minimum is $1,000,000. Unless of course you don't particularly want to to tell me you are rich.
Let me go find an individual who manages his/her own IRA, wanting to use NTF funds, and has $1,000,000 to invest. In the meanwhile, can any one tell me if Schwab, Fidelity also allow AQRNX without minimum?
As for the AQR funds, they used to be $5K minimum across the board. Then the minimums were all raised to $1M. Some AQR funds at some brokerages still reflect the $5K or in some cases are 0 min, but otherwise, $1M is the norm for the AQR funds.
Not sure if we are closer to the end or the beginning of a "correction", but I know I cannot predict the top or bottom, so I dabbed a little.
I have learned over the years that being a contrarian works more often than it doesn't, so when most act as if we are heading for a double-dip (as is the case now), this is the time to buy. JMHO!!!
Today is June 8th.
Now that the S&P 500 Index is in the 1290's ... I made a small short term spiff investment, on June 7th., from some of the cash I pulled to the side ... I'll probally let it got around S&P 1310 range for an anticipated 2% gain. Mind you, this is a spiff investment, I expect the S&P 500 to tick lower into the summer.
Skeeter