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RiverPark Strategic Income

A short story I thought some may be of interest.

I am in RiverPark Strategic Income. I noticed that the NAV closed down .03 yesterday. Not knowing what portion of that was from the month end dividend, I decided to call the transfer agent this morning to inquire. For whatever reason, the person I spoke with, did not know.

I then decided to call RiverPark in New York to inquire. When the switchboard operator answered the phone (I assume that's who it was) I explained the information I was looking for, not mentioning that I had spoke with the transfer agent, and requested that I speak with someone that would know the answer to my question. The switchboard said "please hold for a minute and I will connect you to someone that could answer your question".

Less than 15 seconds later, a gentleman picks up the phone and says "Morty Schaja, how may I help you" (for those that do not know, Morty Schaja is the CEO and Managing Partner of RiverPark Funds). Mr. Schaja answered my question and we spent the next 15 minutes or so talking about the stock and bond markets. Not once did he say needed to go.

I was impressed!

Mona






Comments

  • That's so cool.
  • I had a similar experience several months ago. I called the RiverPark with some questions regarding the yield of RiverPark 'Strategic Income' fund. The person who answered the phone could not answer the question but promised that someone will get back to me. An hour or so later, Morty Schaja, the CEO of RiverPark Funds, called me home and answered my question in great detail. And yes, we talked about investments including RiverPark mutual funds. He even asked me to look into 'RiverPark Structural Alpha Fund' for my retirement portfolio (it turned out to be too conservative for me). I am impressed enough with the performance of their 'Strategic Income' and 'Short Term High Yield' funds that my family members and friends are also happy shareholders of these two funds.

    Thanks to David Snowball for introducing this well-run and customer-focused mutual fund family to us!

    Mohan
  • Ditto. Thanks David. RSIVX is my largest holding.
  • It's cool and all. However I only want Morty to talk to the next guy he calls for 5 minutes instead of 15 and make more money using the 10 minutes he saved.

    Or he could just be lonely...like it is at the top.

    Did I say I also owned RSIVX and RPHYX?
  • The thanks go to Mona- for pointing out to others what they should be doing for themselves: actively working to understand a fund and how it operates.

    Disclosure: Much family money in RPHYX, RSIVX, and related vehicles.
  • edited July 2014
    @Mona oh my, I hope you were sitting down when patched thru, to reduce the risk of personal bodily injury. And surprised you were able to maintain your poise; if Morty had picked up the line on me, I'm afraid I'd have sounded like the proverbial village idiot for a minute or so.

    Dvd of 0.0334/share. Fidelity's Quote Tool grabbed it by 4PM (PDT). Annualized dvd yield of 3.85% @ NAV, 4% yield from shares purchased at inception. The RSIVX team continues to hit the targets they thought they could hit when they established the fund, without volatility. For those of us invested, no dissuasion from continuing the mutual in mutual fund and feeding their ("our") vehicle.
  • edited July 2014
    Just my 2 cents folks. There is NO sure thing. Hopefully folks do not have their entire cash position in RPHYX, RSIVX rather only that part of the portfolio which would otherwise be in cash, and then again only some of it.

    We all can understand certain funds only work because of their manager. In case of these funds, nothing can be truer. Manager gets hit by a truck...god forbid...one needs to bail.

    Let's hurry up...slowly.

    Too bad ZEOIX profiled this month is not available NTF anywhere.
  • Festina Lente
  • Had a somewhat similar experience years ago when I emailed Oakmark with a couple of questions before deciding to buy into OAKBX. I sent a generic email into Oakmark, got a reply from McGregor himself.
  • joe74 said:

    Festina Lente

    No Habla Espanol
  • Festina Lente:

    It's latin. It means "make haste slowly."

    Festina lente or σπεῦδε βραδέως (speûde bradéōs) is a classical adage and oxymoron meaning "make haste slowly" (usually rendered in English as "more haste, less speed"). It has been adopted as a motto numerous times, particularly by the emperors Augustus and Titus, the Medicis and the Onslows.

    The Roman historian Suetonius, in De vita Caesarum, tells that Augustus deplored rashness in a military commander, thus "σπεῦδε βραδέως" was one of his favourite sayings:[1]

    (He thought nothing less becoming in a well-trained leader than haste and rashness, and, accordingly, favourite sayings of his were: "More haste, less speed"; "Better a safe commander than a bold"; and "That is done quickly enough which is done well enough.")

    The constructive intent of the phrase is that activities should be performed with a proper balance of urgency and diligence. If tasks are overly rushed, mistakes are made and good long-term results are not achieved. Work is best done in a state of flow in which one is fully engaged by the task and there is no sense of time passing.



    It's also a Dogfish Head beer. :)
  • Festina Lente:

    It's latin. It means "make haste slowly."

    Festina lente or σπεῦδε βραδέως (speûde bradéōs) is a classical adage and oxymoron meaning "make haste slowly" (usually rendered in English as "more haste, less speed"). It has been adopted as a motto numerous times, particularly by the emperors Augustus and Titus, the Medicis and the Onslows.

    The Roman historian Suetonius, in De vita Caesarum, tells that Augustus deplored rashness in a military commander, thus "σπεῦδε βραδέως" was one of his favourite sayings:[1]

    (He thought nothing less becoming in a well-trained leader than haste and rashness, and, accordingly, favourite sayings of his were: "More haste, less speed"; "Better a safe commander than a bold"; and "That is done quickly enough which is done well enough.")

    The constructive intent of the phrase is that activities should be performed with a proper balance of urgency and diligence. If tasks are overly rushed, mistakes are made and good long-term results are not achieved. Work is best done in a state of flow in which one is fully engaged by the task and there is no sense of time passing.



    It's also a Dogfish Head beer. :)

    And "Hurry Up Slowly" is Cockney:P
  • @Brightorange -- brilliant excursus !

    Thanks !

    D.S.
  • Shall we add Alice's recognition, in Alice in Wonderland, that, "The hurrier I go, the behinder I get"? It has a wonderful, almost Amish feel to it.

    David
  • Yea David, that was my mother's favorite line. She had it posted in her work area.

    I think things may have changed. At least I get the impression that today's world wants faster results even if some of the behinder stays left behind.
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