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Scott - Where's your thread "Where are you investing now"?

edited August 2013 in Fund Discussions
FWIW, I sold PRSNX and added the proceeds to FPACX, ARIVX and SFGIX.
The first two hold lots of cash, and hopefully better allocate them than me.
Third, because EM is underperforming and hopefully has better prospects.

Still holding lot of cash due to 401K rollover to IRA. Have to decide where to invest that money.
With evergoing-up market, it is increasingly difficult to deploy money.

Where are you guys investing now ?


  • Looking hard at the new Great Owl Funds spreadsheet. Thinking hard on OSTIX (Osterweis Strategic Income). Would also like a crack at WPOPX (Weitz Partners III Oppor Instl), but it's "Institutional/$1,000,000" to play at Schwab.
  • edited August 2013
    I'll play Scott...

    I'm now more interested in investing for the long term. Getting better at it. Trying (with some success) to temper my "Where are you investing now...?" thread, as much as I enjoy all you newts.

    I look for healthy dividends. Promising growth in particular sectors, like energy. Individual companies...COP, CSCO, KMP (I love Kinder Morgan!), infrastructure...BIP. Smart phone apps. Credit card apps. Pipelines. Canadian plays...Enbridge, for example. Jardine Matheson globally.

    Oh, Glencore....granted, it's been a terrible investment (I'll admit), but I still love the assets. It will pay-off, long-term...really.

    So, now I get to enjoy life more. Go for long daily walks.

    You folks should too.

    Think about it=).

  • beebee
    edited August 2013
    I try to take quarterly profits when any fund I own has gained 10%...more often than not I wait a lot longer then 3 months, but by doing a review quarterly I usually avoid early redemption fees and I find that there is at least a few holdings that have performed well enough to sell some shares.

    If the holding is an opportunistic position and it shows signs of upward momentum I usually will only take the 10% gain and monitor its momentum more closely. I like to use a pairing system with my mutual funds.

    Recently, I have been pairing BUFBX and BUFOX. In this case I use BUFBX as my long term hold and BUFOX as my opportunistic position. Here are the two funds over the last quarter:

    In this case I will take my 20% gain from BUFOX (referenced against BUFBX) and reallocate it to BUFBX. I will check momentum of BUFOX against BUFBX on a 1 month basis going forward. Here's the most recent 1 month chart:

    As you can see, BUFOX continues to have positive momentum compared to BUFBX. If things reverse I will often get out of the agressive position and continue monitoring it for reentry or look for other trending funds.

    I have tried this also with:
    Mathews Funds: MAPIX and MSMLX
    TR Price: PRWCX and many other T R Price Funds (PRMTX, PRHSX, PRIDX, PRNHX, etc)
    Vanguard: VWELX and other Vanguard Funds (VHCOX, VGHCX, VGENX,VGSIX,etc.)
    Pimco: PONDX and other Pimco Funds (PCKDX, PETDX, PCRDX, etc.)
    Oakmark: OAKBX and other Oakmark Funds ( OAKIX, OAKWX, etc.)

    I try to do these investment pairing within the same fund family because my brokerage allow me to exchange funds on the same day. This provides me with the ability to sell profits from my opportunistic funds and buy shares of my "long term hold" fund on the same day. Choosing funds that are NTF also eliminates transaction fees.

    Would like to hear from others on their reallocation strategies.

  • edited August 2013
    Reply to @"Scott": :-)
  • Do you do John Wayne too, Charles?

    In this house, putting some cash back to work, adding incrementally to existing funds ARTKX, WAFMX, PRBLX, and MAINX; and giving some thought to WAGOX vs. ARTWX, HYLD, NABAX, and making MWTRX my one-only core bond fund.

    Joe, yep, OSTIX is in its element these days.
  • I had a GNMA fund BGNMX that was a long time hold that I sold and put into a short duration fund ACSNX with a current 1.8 year duration. Still keeping my MAINX , MAPIX , and MAPTX . Moved some money back in the spring to ACMVX which has held up well and has a good track record. Along with a AA moderate fund and some other bond funds, that is my portfolio at a glance.

    I do have a lot of American Century but I have had excellent service from them and that says a lot to me. Matthews has also been a good experience in the past few years for me.
  • Reply to @AndyJ: Thanks Andy. OSTIX is $76 TF at Schwab, but then again no fee for sale- just purchase. Holding period only 30 days, so that's OK. Would take ~15k to get that TF down to a 0.5% "front load", but that's not too bad, given the crummy alternatives.
  • Where am I now? Same as last month, same as last year--- though I'm hoping for a domestic pullback sometime soon so that I can deploy some cash which is earmarked to grow my position in MAPOX. Hoping to see SFGIX take off and go places. But I bet A. Foster, taking a long-term view also, is where he wants to be with portfolio allocation. If stuff isn't "happening" these days, it WILL happen when the cycle comes around again.
  • edited August 2013
    Well, I guess I’ll chime in here.

    Within my highly diversified portfolio I have currently been sitting on the sidelines, for the most part, and harvesting from my crops their unrealized capital gains that I planted sometime ago. As the market moves upward, I harvest from them as they grow. Sounds a little biblical, it is, as I have watched through the years my unrealized gains get vaporized, from time-to-time, in a market downdraft. Now, I harvest form my gains as the market progresses upward. In this way, it reduces the possibility they might go stale before booking profit.

    I just recently read Jeffery Saut’s weekly market commentary which I have linked below. It seems others that operate in a high risk environment learned that they too should harvest form their takings and put some back for use sometime in the future. I have linked his commentary below for those that might be interested in reading it. It is titled “The One Chip Rule.”

    In addition, I’d like to thank Charles and David for their work in the “MFO Fund Ratings” spread sheet. Indeed this is great work. Having bet at some dog tracks ... in my earlier years ... Well, this spread sheet should aid in keeping one from putting money on a "slow" dog type fund.

    I wish all “Good Investing.”

  • Reply to @Old_Joe: Try WPOIX which is NTF with $2500 min. at Schwab. The usual fee if sell within 90 days.

  • I like OSTIX, a great record, but its strategy in mostly corporates, some convertibles and cash.
    Can that continue to hold up since this is best fund I could find in multisector category. We mostly own PIMIX, ok now but a great record and manager My core is MWTRX and a couple em bond funds (TGEIX, FNMIX) doing poorly at down-5-6% YTD. Should I dump or hold?
  • Reply to @johnN: wanna add something more productive and related to the threat?
  • edited August 2013
    in the past several months moved with the herd to reduce duration of my bond funds and add to equities: exited pimco core bond, pimco real return (PRRIX) and pimco foreign bond (PFUIX) in my 401k and placed the proceeds into PTLDX. more recently, started adding to ARTIX and MSIQX. looking for value in the scarred CEF space: have been adding to PDI, BGH, JRI, JPI at discounts.
  • edited August 2013
    Reply to @johnN: John: what, exactly, are you "lol" about?
  • I've made a few changes over the last couple months:

    I had ARIVX as my only small cap fund. I took half of that and put it in GPGOX.

    Sold half my PIMIX and put it in PRWBX.

    40% of my portfolio has been in balanced or allocation type funds. I have or am in the process of moving some of that money around. I'm selling my 5% stake in PGDPX (to heavy HY bonds going forward) and halving my 10% stake in PAUIX. Again, another fund that plays to much with bonds. With that money I already started investing in RGHVX. New, but pretty impressive so far. The rest I plan to move to FPACX, increasing that percentage from 10 to 15%.

    mrc70, thanks for starting the thread. Always interested to hear what others are doing.
  • Reply to @Old_Joe: OSTIX is doing well these days with YTD >4%. It may has less duration risk with short term junk bonds and convertibles, but don't forget the credit risk. However, the default rate is at historical low now, so it may not be as a big concern.
  • edited August 2013
    Reply to @ron: Ron, OSTIX has been a pretty steady fund with the same basic mix for a few years now ... the corporates are short junk at the higher end of the junk credit quality spectrum, so you get decent yield with low interest rate risk and relatively low credit risk for a mostly-junk fund. It's been doing well for several years, just that up until now there were other bond funds doing a lot better, e.g., the Pimco gang's.

    I'd say you're in okay territory with OSTIX, the best of the multi-sector lot short-term; PIMIX, the best over the longer term; and MWTRX, holding up among the best of the core funds. Right now my only EM debt exposure is through MAINX and the bit in PIMIX. If I were to dump one of the EM funds you own, it'd probably be FNMIX; TGEIX seems to have a lot more flexibility and willingness to use it.

    I've also been looking at GOBAX, a very actively managed global bond fund, one where the managers hold higher quality EM debt alongside developed market debt and vary geography and currency exposure according to what they see as valued or undervalued. Looks to be riskier than standard foreign bond funds, but not as risky as pure EM debt funds.
  • Reply to @AndyJ: OSTIX is like you said, basically a junk bond fund. But you would have been much better off the past many years in a plain vanilla junk fund ala WHIYX.
    Albeit, WHIYX likes to hold some bank loan funds among their mix of lower rated bonds. Of course, despite their continuing upward persistency in trend, bank loan funds are much maligned here.
  • Reply to @AndyJ:


    I too like MWTRX, however, I do not own it. But when I look at the different elements of MWTRX, I find it impossible for me to differentiate between an "Intermediate-Term" bond fund like MWTRX and a number of "mulisector" bond funds. PIMIX is one that comes to mind.

  • Did some realigning in my foreign exposure today. I had EEM, ABEMX and ODVYX, all emerging markets. Determined that EEM was not only underperforming the managed funds but added no real benefit. I sold EEM and bought some OAKIX, which has ramped up its European exposure of late, and added a little to ABEMX and ODVYX. Those two seem to work well together for emerging market exp[osure, each seem in different areas and sectors, and they seem to complement each other.

  • Reply to @slick: Nice EM play. Do you supplement with a Pacific Asia fund like any of the Matthews offerings?
  • edited August 2013
    Reply to @TonyGstring:
    I have never done any regional funds with the exception of PRESX and a Driehaus fund years ago. In 2008-2009 got out of foreign altogether. Went back in December of 2012. Always was aware of Matthews and what a good fund shop it is. Thanks for reminding me, I never say never:)

    I have a number of ETFs to supplement my managed funds, and have now sold two of them in favor of managed funds. Last week sold IYW in favor of ISTIX. There are just some areas managed funds do so much better. Two of my ETFs however have been great, PKW (largest holding) and PJP which I recently added.
  • edited August 2013
    Reply to @Junkster: Speaking of bank loans, the link below is not very encouraging to bank loan longs ala myself. I had said in a previous post this would not end well but until the message of the market (pure price action) says sell will sit tight with a 1.00% to 1.25% mental stop from the recent highs off the June lows.
  • Reply to @Junkster: But investors keep piling in:

    "Leveraged Loan Funds Mark 60th Straight Week Of Inflows With New Record"
  • Reply to @slick: Ya, got into ODVYX before closing in my Wells account but missed it in my Fido rollover:(
    Seems like all the good EM funds closed this past year; ABEMX, HEMZX, ODMAX. Not confident in any of the available funds/managers in the space so thinking of splitting exposure to SFGIX, GPROX, & MPACX evenly at 4% each.

    I agree. PJP is good, you must have some serious gains in that one. Would have bought it but FBIOX was NTF.
  • Is AEMGX not a good fund. Though, it was pretty bad during the last downturn, it has a good long term record.

    It is one of the few value oriented EM fund and uses Quant method to select stocks.
  • AEMGX has done better than the EM index EEM but poorer than ODMAX, closed now.
  • Reply to @mrc70:

    Check out (DREGX) for an emerging markets fund.

  • ODMAX has fabulous record but it has close to 30B assets.
    Moreover, quite a few mgr changes happend in the last 10 years or so.
    Do we think that its performance would sustain going forward ?
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