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Not necessarily, although I'm not an expert in bonds so maybe others can chime in. Looking at PRSNX the largest holding is floating/bank loan and has large allocation to corporate, which is why I mentioned OSTIX (happens to be named Strategic Income as well) whose duration is about half the length with a much better track record to boot. Give THOPX a look and tell me what you think. Convertibles & floating rate funds can also be used at satellites to supplement core holdings, or an unconstrained fund such as SUBYX which has been mentioned here a few times.
HSFNX Gotcha, am personally long-term bullish on financials too. Have all the Fairholme funds so they do most of the leg work on top of positions in B of A & Wells Fargo.
PCRIX Yea, did a lot of research on commodity funds after being unsatisfied with ETF offerings. The TIPS fund is much more volatile and is down -13% compared to -6% since date of purchase. Going to liquidate it and transfer rest of money to PCLDX. Settled on FSCHX after looking at FSDPX for equity exposure.
ARIVX Know there are mixed feelings around here on this one. Can understand the conservative approach for capital preservation and Eric Cinnamond's record speaks for itself. I think it really depends on the goal of the portfolio. However, I'm of the opinion that small cap value is one of the more efficient ways for upside capture ratio so it does not make sense to put ALL my small cap eggs in that basket, but that is just me.
ARTWX Completely agree with proven manager in new fund, ie: FMIJX, FPIVX, MSCFX, GOODX. Also limited by TDA holding restriction in my Roth and waiting for the 6 months to pass.
First I would organize what I own. To do this I use the area and sleeve approach. I have four areas of investment within my portfolio. The areas are cash, income, growth & income, and growth. Within the cash area there are two sleeves, demand cash and investment cash. Within the income area I also have two sleeves one for fixed income type funds and another one for hybrid income type funds. Within the growth & income area I have four sleeves one for global equity, one for global hybrid type funds, one for domestic growth & income type equity funds and finally a domestic hybrid sleeve consisting mostly of moderate allocation and balanced type funds. In the growth area of my portfolio I have four sleeves one for global, international and emerging market type funds, one for domestic large/mid cap type funds, a third sleeve for domestic small/mid cap type funds and a fourth sleeve for specialty type funds. Each sleeve holds form three to six funds with the exception being the cash area sleeves. With this one can easily adjust the weighting of the sleeve by the number and amount of each fund held. When a fund goes out of favor and falters then there are the others to provide support to the sleeve. With this, I currently own close to fifty funds.
The next step I’d take is to Xray each sleeve to see how it bubbles. Then I’d decide what adjustments to make with my funds to achieve the composition I am seeking. The Xray report should assist you in making an informed review as the fund reports themselves are easily accessed as well.
The above is meant to provide an idea to assist you with your review process as to what to toss and what to keep. I wish you the best in sorting through your funds. I like my system ... it works well for me ... and, I plan to make no chages to reduce the number of funds that I own.
Reply to @Charles: really? how about individual's risk tolerance? how about when someone's employment, let's say, correlates with equity markets? i respect many of your skills and contributions, Charles, but be careful with such advice.
World Regions US & Canada: 62% (way too high compared to what I want; I have to make changes) Europe: 15% Japan: 2% Latin America: 2% Pacific Rim: 11% Other: 3% Not Classified: 5%
Not much change in Stock statistics that I gave earlier. So, not giving them again.
Top 10 Holdings VDIGX - 13% VHGEX - 11% PAUDX - 9% AKREX - 6% FPACX - 6% (62% of my Taxable portfolio is in it and rest of it in ARTKX) VWELX - 6% GPGOX - 5% ARTGX - 4% (Candidate for adding to increase my foreign %ages) PRHSX - 4% PQIDX - 4% (Same as written above for ARTGX; Also would increase EM by adding to SFGIX)
Comments
HSFNX Gotcha, am personally long-term bullish on financials too. Have all the Fairholme funds so they do most of the leg work on top of positions in B of A & Wells Fargo.
PCRIX Yea, did a lot of research on commodity funds after being unsatisfied with ETF offerings. The TIPS fund is much more volatile and is down -13% compared to -6% since date of purchase. Going to liquidate it and transfer rest of money to PCLDX. Settled on FSCHX after looking at FSDPX for equity exposure.
ARIVX Know there are mixed feelings around here on this one. Can understand the conservative approach for capital preservation and Eric Cinnamond's record speaks for itself. I think it really depends on the goal of the portfolio. However, I'm of the opinion that small cap value is one of the more efficient ways for upside capture ratio so it does not make sense to put ALL my small cap eggs in that basket, but that is just me.
ARTWX Completely agree with proven manager in new fund, ie: FMIJX, FPIVX, MSCFX, GOODX. Also limited by TDA holding restriction in my Roth and waiting for the 6 months to pass.
Anytime.
You can see WHY..... But it appears that "retail" refers to non-institutional investors like Joe Blow and Jane Doe.
http://quotes.morningstar.com/fund/akrex/f?pgid=hetopquote&t=akrex
First I would organize what I own. To do this I use the area and sleeve approach. I have four areas of investment within my portfolio. The areas are cash, income, growth & income, and growth. Within the cash area there are two sleeves, demand cash and investment cash. Within the income area I also have two sleeves one for fixed income type funds and another one for hybrid income type funds. Within the growth & income area I have four sleeves one for global equity, one for global hybrid type funds, one for domestic growth & income type equity funds and finally a domestic hybrid sleeve consisting mostly of moderate allocation and balanced type funds. In the growth area of my portfolio I have four sleeves one for global, international and emerging market type funds, one for domestic large/mid cap type funds, a third sleeve for domestic small/mid cap type funds and a fourth sleeve for specialty type funds. Each sleeve holds form three to six funds with the exception being the cash area sleeves. With this one can easily adjust the weighting of the sleeve by the number and amount of each fund held. When a fund goes out of favor and falters then there are the others to provide support to the sleeve. With this, I currently own close to fifty funds.
The next step I’d take is to Xray each sleeve to see how it bubbles. Then I’d decide what adjustments to make with my funds to achieve the composition I am seeking. The Xray report should assist you in making an informed review as the fund reports themselves are easily accessed as well.
The above is meant to provide an idea to assist you with your review process as to what to toss and what to keep. I wish you the best in sorting through your funds. I like my system ... it works well for me ... and, I plan to make no chages to reduce the number of funds that I own.
Best regards,
Skeeter
I have taken time to update my portfolio at Trow Price to get accurate and more detailed X-ray info. Here is how it is showing up.
Style Box
17 26 23
5 7 9
4 4 5
Asset Allocation
Cash: 1%
US Stocks: 43%
Foreign Stocks: 23%
Bonds: 28%
Other: 5%
World Regions
US & Canada: 62% (way too high compared to what I want; I have to make changes)
Europe: 15%
Japan: 2%
Latin America: 2%
Pacific Rim: 11%
Other: 3%
Not Classified: 5%
Not much change in Stock statistics that I gave earlier. So, not giving them again.
Top 10 Holdings
VDIGX - 13%
VHGEX - 11%
PAUDX - 9%
AKREX - 6%
FPACX - 6% (62% of my Taxable portfolio is in it and rest of it in ARTKX)
VWELX - 6%
GPGOX - 5%
ARTGX - 4% (Candidate for adding to increase my foreign %ages)
PRHSX - 4%
PQIDX - 4% (Same as written above for ARTGX; Also would increase EM by adding to SFGIX)
Thanks for any additional inputs.