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.
I'm doing what I pretty much always do: adding regularly (almost all of my accounts are set on auto-invest) to my established portfolio. Artisan, FPA, RiverPark, Seafarer, T Rowe ...
Morningstar's market valuation estimate is constructed stock-by-stock, rather than looking at market wide averages. By their calculation, low quality stocks remain fully- to over-valued. The rest of the market is undervalued by 3% or so (as of mid-afternoon, June 24). That doesn't strike me as terribly compelling.
At Morningstar, Mr. Herro had allowed that there were some e.m. stocks "within 10-15% of interesting." EEM is down not quite 5% since then. If the panic deepens, I'll likely add to my Seafarer account. Otherwise, I'll stick with the plan.
Nope. Had to sell half X this morning, which hated to do, but hit draw down limit. Been recurring theme lately. Ditto for RBS last Friday...under severe stress.
Coal continues to be HAMMERED. Anxious to get back in if it ever stops falling.
Of my current stocks, I think GE looks best of bunch. Will likely start there when I buy again.
Top three funds: AQRIX, WBMIX, FAAFX. AQRIX is behaving poorest of bunch.
I was anticipating a pullback of 5+%, and now the only question is how much further the retrenchment will drag the averages.
I'm trying to figure out how the end of month, end of quarter datelines will impact the next few days.
Should be interesting. This is why you always want to take some profits during the run up. I am thinking about some DIVI payors here...some accidental high-yielders.
I am long WAFMX, GPGOX and MEASX with equal dollar amounts in EEV and FXP (inverse ETF's). As long as these funds beat the Emerging Markets Index and The FTSE China 25 Index, I am able to make money. It is essentially a long/short portfolio (2/3 in MF's and 1/3 in 2X leveraged inverse ETF's) that's betting on my fund managers beating their indices. So far so good.
Homer gazes at his crystal ball (while eating donuts):
Thinking we are due for a "bounce" tomorrow (Tues) as some buyers finally step in. Not sure if that will change the trend (correction in progress). Still too early for gold/gold miners despite wicked downdraft. And China is really spooking the whole world.
I'll be a buyer on "big" down days. All of this volatility makes for interesting news.
Reply to @David_Snowball: hi David - I haven't been here in a long time so it's nice to be back ! I used to post regularly at FundAlarm before the changeover. Lately, I've been posting at *M because I like their portfolio manager. I see all of my holdings taking it on the chin right now. It's hard to just sit there and watch the losses day after day. I get very tempted to do SOMETHING although not sure what it is. I did sell VMATX on Friday after it was getting crushed. I see it got hammered again today. I put the funds in BSBIX for shorter duration in my bond portfolio. I have a fairly conservative portfolio - 40 equity/40 bonds/20 cash, but I'm still taking it on the chin because nearly everything is down right now. Do you ever get anxious just to do something? I'm sure you rarely react to market swings though.
The ADR for the Brazilian homebuyer Gafisa GFA is still getting hammered just like the entire Bovespa. I'm so far down now just going to ride it down further at this point.
Also: no. I have turned indolence into an investing art form. I tend not to track my portfolio as frequently as I once did. The only time I recall market pressure triggering repeated sells on my part was in the late 1990s. I owned the Fidelity Japan Smaller Companies fund (bought it after I read a tiny throwaway article in the WSJ that called small Japanese companies the world's most undervalued stocks) and it doubled in six months, at which point I got nervous and sold some. Then it more than doubled in the next six. Sold again. Went up another 50%. Sold again. But that's been about it.
Occasionally I wish I had piles of money to invest when the market's down a quarter, but my tendency to invest automatically means I rarely have lots of cash on the sidelines.
Summer's a good time for reading. Just bought a potentially fascinating book on the world in 1913. Perhaps that and a glass of Sam Adam's new Porch Rocker beer would help?
Comments
I'm doing what I pretty much always do: adding regularly (almost all of my accounts are set on auto-invest) to my established portfolio. Artisan, FPA, RiverPark, Seafarer, T Rowe ...
Morningstar's market valuation estimate is constructed stock-by-stock, rather than looking at market wide averages. By their calculation, low quality stocks remain fully- to over-valued. The rest of the market is undervalued by 3% or so (as of mid-afternoon, June 24). That doesn't strike me as terribly compelling.
At Morningstar, Mr. Herro had allowed that there were some e.m. stocks "within 10-15% of interesting." EEM is down not quite 5% since then. If the panic deepens, I'll likely add to my Seafarer account. Otherwise, I'll stick with the plan.
As ever,
David
Coal continues to be HAMMERED. Anxious to get back in if it ever stops falling.
Of my current stocks, I think GE looks best of bunch. Will likely start there when I buy again.
Top three funds: AQRIX, WBMIX, FAAFX. AQRIX is behaving poorest of bunch.
I was anticipating a pullback of 5+%, and now the only question is how much further the retrenchment will drag the averages.
I'm trying to figure out how the end of month, end of quarter datelines will impact the next few days.
Should be interesting. This is why you always want to take some profits during the run up. I am thinking about some DIVI payors here...some accidental high-yielders.
Jim
Thinking we are due for a "bounce" tomorrow (Tues) as some buyers finally step in. Not sure if that will change the trend (correction in progress). Still too early for gold/gold miners despite wicked downdraft. And China is really spooking the whole world.
I'll be a buyer on "big" down days. All of this volatility makes for interesting news.
Also: no. I have turned indolence into an investing art form. I tend not to track my portfolio as frequently as I once did. The only time I recall market pressure triggering repeated sells on my part was in the late 1990s. I owned the Fidelity Japan Smaller Companies fund (bought it after I read a tiny throwaway article in the WSJ that called small Japanese companies the world's most undervalued stocks) and it doubled in six months, at which point I got nervous and sold some. Then it more than doubled in the next six. Sold again. Went up another 50%. Sold again. But that's been about it.
Occasionally I wish I had piles of money to invest when the market's down a quarter, but my tendency to invest automatically means I rarely have lots of cash on the sidelines.
Summer's a good time for reading. Just bought a potentially fascinating book on the world in 1913. Perhaps that and a glass of Sam Adam's new Porch Rocker beer would help?
David