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Between my pre-tax and after-tax holdings, there are only 3 funds that are in both, and so have a leadership position in my portfolio in aggregate...FAIRX, FPACX and RPMGX. I have been pleased with all 3.
But FAIRX with only 6 equity positions? Am I crazy holding this to that concentration?
Congrats on holding these three funds, and just three. Concentration is one of the secrets to superior returns...or really lousy ones, depending on how skilled (or lucky) you are.
BTW, not certain but think BB has been off-loading SHLD, at least I think I'm seeing that in FAAFX, which is a good thing.
Reply to @Charles: thanks Charles, but to be clear, my holdings include more than these 3...these are simply the ones common to pre and post-tax accounts.
BTW, FAIRX has a very large distribution upcoming, something like 7% of assets. Best guess is that he liquidated something, but SHLD and BAC I'd guess are in the red and wouldn't cause a taxable distribution, so AIG? Here's the link: http://bit.ly/JeCniX
Reply to @Charles: I could be wrong, but I think last 13f, Fairholme as a whole had added to Sears. The reason it has gone down lately is due to Eddie Lampert selling a substantial amount.
Reply to @scott: Thanks man, understand. Just noticed lately that on days when SHLD drops heavy, FAAFX does not go down as I expect. But, maybe just wishful thinking on my part.
The GSEs' junior preferred shares popped, with Fannie Mae's preferred Series F shares (FNMAS) rising 13.3% to $9.88, while Freddie's preferred Series Z (FMCKJ) shares were up over 9.1% to $9.88. Both preferred issues have par values of $25.00.
NEW YORK (TheStreet) -- Shares of Fannie Mae (FNMA_) and Freddie Mac (FMCC_) rose considerably on Wednesday, after comments at a Financial Services Round Table meeting indicated a willingness in Congress to consider the interests of private investors when winding down the two government sponsored enterprises (GSEs).
Comments
Congrats on holding these three funds, and just three. Concentration is one of the secrets to superior returns...or really lousy ones, depending on how skilled (or lucky) you are
BTW, not certain but think BB has been off-loading SHLD, at least I think I'm seeing that in FAAFX, which is a good thing.
Regards,
Ted
The major indexes - the S&P 500 and Dow were down fractionally, the NASDAQ was up fractionally - and FAIRX gained 2.35%.
Must have been AIG, BAC and Sears...right? Well...not exactly. AIG added 1.17%, BAC was up .48% and Sears gained .32%.
Is it the FHLMC and FNMA Pfd bet? Or something else?
Yes, the Pfd shares are on fire.
The GSEs' junior preferred shares popped, with Fannie Mae's preferred Series F shares (FNMAS) rising 13.3% to $9.88, while Freddie's preferred Series Z (FMCKJ) shares were up over 9.1% to $9.88. Both preferred issues have par values of $25.00.
Ralph Nadar wrote a letter to Mel Watt.
http://www.restorefanniemae.us/naderwattletter
And there was this in the news:
NEW YORK (TheStreet) -- Shares of Fannie Mae (FNMA_) and Freddie Mac (FMCC_) rose considerably on Wednesday, after comments at a Financial Services Round Table meeting indicated a willingness in Congress to consider the interests of private investors when winding down the two government sponsored enterprises (GSEs).