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Open Thread: What Are You Buying/Selling/Pondering
Reply to @Investor: Good pick. I am considering moving from Vanguard Wellington to Osterweis Strategic Investment, OSTVX for the same reason -short duration but lower quality bonds than that of BUFBX.
Not a trader but still time to raise a little cash. Sold PSX a spinoff from COP last year which is long time holding. Sold SCHV,SCHX and VXF. Just cutting back on equities with large gains in IRAs. I was thinking about reducing PEP and PG but did not. They are in SCHD which I have a lot of.
bought recently TYL (TALlor) and TSCO (TRACTOR SUPPLY). bought AMANX (amanx) fund 3 or 4 months ago. Did very well. I am afraid if I have to pull out the money from it (hearing all the news about market being overvalued)
Starter positions in WAFMX and BPRRX. Bought the minimum. Equities are too high (consensus view), but we also might just crawl higher for no reason. Waiting to hear the phrase "Santa Claus Rally" in a few weeks. Market melt-ups are maddening.
So this is my "sacrifice" to the market gods - I am confident that I'll be buying in at lower levels.... at some point. Still waiting for the plunge, and my little purchases here might help get things started! You guys can all thank me later.
I make more as the market climbs its wall of worry than a pull back as I am 105% long and 5% short according to Morningstar's Instant Xray analysis of my portfolio. However, at these P/E Ratio Levels I am awaiting better valuations to deploy some of my cash accumulation. Being more of a long term investor rather than a trader I have just never had good long term results when I bought at high valuations. I can understand traders playing the momentum trade: but, even at some point they will cash out. And, if many are seeking the exit trade ... Guess what? The market will be pulling back and with a good down draft look out for margin calls.
Currently for me, the conserative move is to accrue cash for future deployment.
Reply to @JoeNoEskimo: In regards to your recent query re Celegene, here's a fund I happened on recently that holds your "dream" stock as its top holding, with about 4.3% so invested. Felt I would be remiss not to call it to your attention. Unfortunately, this manager has received decidedly mixed reviews here at MFO (deserved I think). Also, I wouldn't buy any fund that's already gained 33+% for the year. Nonetheless, thought you'd like to know Mr. Cuggino apparently agrees with your assessment of the stock.
Reply to @hank: Thanks for the CELG info, Hank! I talked myself out of buying a large stake. I do still like the story there, but there may be better window to purchase. Its had a great run, and I'm way late.
I'll probably buy FBIOX if biotech takes a big hit.
Reply to @JoeNoEskimo: Yep - maybe consider it if and when it gets cheaper. PAGRX is very aggressive - as I'm sure you already know. These types of aggressive growth funds will sometimes tumble 30-40% or more over a year or two's time. (Disclaimer: I own PRPFX, also managed by Mr. Cuggino.)
Reply to @hank: I've always been a big PRPFX fan, but I did get cold feet once gold and Treasuries ran up so high. Love the diversification concept there, but sold PRPFX last year.
Sorry for the delay in answering your question as I have been away form my computer most of the day.
In doing my instant xray analysis under the asset allocation section it list six areas of detail which are cash, US stocks, foreign stocks, bonds, other and not classified. For each area it lists the percent long, percent short and percent net. In my case all the areas of my portfolio combined add up to 105% long, the areas short add up to 5% with the net showing at 100%.
I have linked the Instant Xray asset entry page for your information and use. You might enter the ticker symbol for MFLDX which is the Marketfield Fund and enter a hypothetical amount. It would be a good fund to view to see how this analysis tool works. To view your whole portfolio enter all your ticker symbols along with percentages or amounts for each. You can enter up to fifty tickers.
I hope this helps answer your question and gives you an understanding as to how one can be 105% long, 5% short while netting out at 100%. My portfolio nets are as follows ... cash 19%, US stocks 32%, foreign stocks 17%, bonds 24% and other 8%. With this, I have ample cash for deployment. You can use a money market ticker symbol to enter your cash position. I use PDDXX as Xray accepts it. There are others.
I Xray my portfolio and its fund holdings monthly to see how the fund managers are positioning as well as my portfolio as a whole. It appears, since last months xray report, some of my funds have ramped up their stock allocations as we move into and towards the traditional fall stock market investment & rally season. The report reflects my equity allocation has increased by about five percent. It appears my flexible and hybrid type funds have been moving towards larger equity positions plus I have purchased a little and then there has also been some good capital appreciation along the way too.
I believe in doing an analysis often and in this way I want make unwarranted changes. I feel it best to know what you have before tweaking.
Comments
bought recently TYL (TALlor) and TSCO (TRACTOR SUPPLY).
bought AMANX (amanx) fund 3 or 4 months ago. Did very well. I am afraid if I have to pull out the money from it (hearing all the news about market being overvalued)
nath
Starter positions in WAFMX and BPRRX. Bought the minimum. Equities are too high (consensus view), but we also might just crawl higher for no reason. Waiting to hear the phrase "Santa Claus Rally" in a few weeks. Market melt-ups are maddening.
So this is my "sacrifice" to the market gods - I am confident that I'll be buying in at lower levels.... at some point. Still waiting for the plunge, and my little purchases here might help get things started! You guys can all thank me later.
I make more as the market climbs its wall of worry than a pull back as I am 105% long and 5% short according to Morningstar's Instant Xray analysis of my portfolio. However, at these P/E Ratio Levels I am awaiting better valuations to deploy some of my cash accumulation. Being more of a long term investor rather than a trader I have just never had good long term results when I bought at high valuations. I can understand traders playing the momentum trade: but, even at some point they will cash out. And, if many are seeking the exit trade ... Guess what? The market will be pulling back and with a good down draft look out for margin calls.
Currently for me, the conserative move is to accrue cash for future deployment.
Skeeter
How can you be 105% long and still have a cash accumulation waiting to deploy?
Top Holdings for PAGRX: http://funds.usatoday.com/funds/holdings.idms?SYMBOL_US=PAGRX
Recent MFO Thread: "Celgene - Please talk me out of this" http://www.mutualfundobserver.com/discuss/index.php?p=/discussion/8679/celgene-please-talk-me-out-of-this#Item_3
Regards
I'll probably buy FBIOX if biotech takes a big hit.
Thanks for the question.
Sorry for the delay in answering your question as I have been away form my computer most of the day.
In doing my instant xray analysis under the asset allocation section it list six areas of detail which are cash, US stocks, foreign stocks, bonds, other and not classified. For each area it lists the percent long, percent short and percent net. In my case all the areas of my portfolio combined add up to 105% long, the areas short add up to 5% with the net showing at 100%.
I have linked the Instant Xray asset entry page for your information and use. You might enter the ticker symbol for MFLDX which is the Marketfield Fund and enter a hypothetical amount. It would be a good fund to view to see how this analysis tool works. To view your whole portfolio enter all your ticker symbols along with percentages or amounts for each. You can enter up to fifty tickers.
http://portfolio.morningstar.com/Rtport/Free/InstantXrayDEntry.aspx?entrynum=10
I hope this helps answer your question and gives you an understanding as to how one can be 105% long, 5% short while netting out at 100%. My portfolio nets are as follows ... cash 19%, US stocks 32%, foreign stocks 17%, bonds 24% and other 8%. With this, I have ample cash for deployment. You can use a money market ticker symbol to enter your cash position. I use PDDXX as Xray accepts it. There are others.
I Xray my portfolio and its fund holdings monthly to see how the fund managers are positioning as well as my portfolio as a whole. It appears, since last months xray report, some of my funds have ramped up their stock allocations as we move into and towards the traditional fall stock market investment & rally season. The report reflects my equity allocation has increased by about five percent. It appears my flexible and hybrid type funds have been moving towards larger equity positions plus I have purchased a little and then there has also been some good capital appreciation along the way too.
I believe in doing an analysis often and in this way I want make unwarranted changes. I feel it best to know what you have before tweaking.
Skeeter
Rebalance is my name.
I like NLSAX too. I have not yet done anything yet though. Thanks for bringing it to the board.
For those that would like a look I have linked its Morningstar report below.
http://quotes.morningstar.com/fund/f?t=nlsax®ion=USA
I wish all ... "Good Investing."
Skeeter