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 ?
Comments
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
Scott
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.
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 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.
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.” http://www.raymondjames.com/inv_strat.htm
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.”
Chap
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?
http://blogs.marketwatch.com/thetell/2013/08/09/marc-wolf-faber-still-thinks-an-1987-style-crash-is-coming/
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.
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.
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.
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.
Mona
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.
http://blogs.barrons.com/incomeinvesting/2013/08/12/here-we-go-again-hubris-abounds-in-risky-credit-sectors/
"Leveraged Loan Funds Mark 60th Straight Week Of Inflows With New Record"
http://www.forbes.com/sites/spleverage/2013/08/08/leveraged-loan-funds-mark-60th-straight-week-of-inflows-with-new-record/?partner=yahootix
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.
It is one of the few value oriented EM fund and uses Quant method to select stocks.
Check out (DREGX) for an emerging markets fund.
Art
Moreover, quite a few mgr changes happend in the last 10 years or so.
Do we think that its performance would sustain going forward ?