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Open Thread: What Are You Buying/Selling/Pondering
Scott, forums are full of Pretenders. Maybe not this one as much as the trading forums but there are lots of Pretenders out there making all sorts of unverifiable claims. Posting trades on an internet forum is pretty meaningless as you never know if the poster even trades - many don't. You would have to know my background to better understand.
junkster: where can you make hundreds of trades annually in OEFs (i assume) and not get banned when it's short term? i just sold two funds at scottrade that i'd held less than 90 days and got two warning letters as a result.
junkster: where can you make hundreds of trades annually in OEFs (i assume) and not get banned when it's short term? i just sold two funds at scottrade that i'd held less than 90 days and got two warning letters as a result.
I have had *well* over a 1000 warning letters from Scottrade over the years. They are meaningless and simply protocol. Scottrade can't ban you only the fund company. In 2014 my only bans were with Eaton Vance and Alliance Bernstein. Before that it had been a couple years that I had been banned. There is a way around a ban but if I post it here it will cause consternation
Edit: Probably more like over 2000 warning letters but who's counting
T Rowe banned me in the early 90s. They are among the strictest. Others don't really care. I realize it's a sore subject on a buy and hold board because of driving up the operating expenses. But it was the only way I could make a living and now a very secure retirement. 98% of Mom and Pop traders like myself fail and of that winning 2% only about half make enough to make it worth their while. Most trade Forex, stock index futures, individual stocks, or options. But it's rare to find anyone that actively trades open end funds. And that is the key to success in anything. Find a niche that few exploit.
@Junkster. Just kidding. I like your style - though at your age I'd suggest more hiking, etc. and less trading. Just a thought.
I've done more trading in the open-ended funds than is good either for me or for the fiduciary. I keep a log and always surprise myself how they add up every year. Never been called on it - except by a screaming idiot at Strong funds once when I phoned in a trade. Come to learn a few years later, the old man himself was actively trading his own funds on an almost daily basis.
@Junkster. Just kidding. I like your style - though at your age I'd suggest more hiking, etc. and less trading. Just a thought.
I've done more trading in the open-ended funds than is good either for me or for the fiduciary. I keep a log and always surprise myself how they add up every year. Never been called on it - except by a screaming idiot at Strong funds once when I phoned in a trade. Come to learn a few years later, the old man himself was actively trading his own funds on an almost daily basis.
Never can tell!
Hank usually hike almost everyday. But this week have been clued to the computer like the old days (make my trades end of day) and hate it! I have one last financial goal that I am real close to and then not sure what financial direction I will take.
Strong? The stories I could tell about Strong and INVESCO in the 90s. Were it not for them would be working some menial part time job now.
If you're like me, contrarian, I'm starting to dip into some Energy in my PA. For retirement accounts, I like to keep diversified from a global perspective, but tweak allocations at times. Definitely reducing U.S. equity... Valuations stretched and minimal top-line growth (in aggregate) are concerning to me. Europe is looking quite attractive, though I would suggest investing there with a currency hedge... FMIJX gives some nice exposure to Europe with a hedge.
I'd agree that FMIJX is a solid choice. Very sharp investment staff there that invest in companies experiencing temporary difficulties. Must take a longer-term investment approach with FMI, though.
Mostly just sitting on my hands. Sold CBI a day before the bomb hit. Nothing but pure luck on that one. I had decided to move that investment over into my Roth account so I wouldn't have to deal with the foreign tax nonsense. Phew!
Thinking of adding to PDI now as it's mostly in 0-1 and 1-3 yr bonds, so the rate hike shouldn't slaughter it. I may wait after that happens, but I'm afraid of buying at a premium, as the discount has all but disappeared and may not ever come back.
Also thinking of adding to DRESX and starting a position in OBIOX.
@MFO Members: Just took a position in Blackstone Group (BX). With increased cash flow for both BX and KKR ,that I already own, I see double digit increases in price and a dividend increase toward the end of the year. Regards, Ted
@Ted. Friday you contemplated lightening up on equities. What have you sold if anything?
BX, as I understand it, is Blackstone's hedge fund. One of my holdings at Price, RPGAX, holds a small amount of Blackstone.
BX is the company. RPGAX holds a position in Blackstone's private hedge fund (well, one of them.) RPGAX has the ability to invest in hedge funds and other such vehicles with (I think) 10% of the fund.
BX is an MLP, as are the other private equity co's (OAK, KKR, etc.)
Also long BX and awaiting the spin-off of the advisory unit, which should occur this year.
A note: BX is a volatile stock and not for conservative investors. The dividend is also variable - it's paying out a large quarterly dividend this quarter after very good results, but you cannot count on a consistent dividend.
I do agree with Ted regarding BX's prospects and they have created a remarkable collection of assets. Additionally, the prior spin-off from Blackstone was Blackrock, which has done okay for itself.
That said, given the company and volatility of the stock, I'm still not going to have this as a huge position.
Ah ... So what Ted did is similar to investing in T. Rowe Price or Franklin Templeton rather than in one of their funds. Thanks Scott.
Exactly, BX (and OAK/KKR, etc) are effectively asset management companies.The only issue becomes the fact that all of the private equity asset managers are MLPs, which result in K-1's at tax time.
@hank; After some soul searching, I decided not to sell anything, the BX purchase was mainly for a steady and possible increased yield with any capital appreciation being a bonus. Regards, Ted
Thanks Ted. If you read Ed Studzinski's commentary this month, you might do some additional soul searching and decide to sell again. (I rather suspected you'd had an advance look at it based on your Friday remark).
Thanks again for the answer to my question. Regards
I share your concern about current market valuations. When I look around the investment landscape there is very little I am finding, of good value, for new investment opportunity.
Areas that come to me are Europe, energy, materials, commodities and the metals (which have been recently bid up where I have backed off buying). With this, I respect your decision to more of less stay put. However, I am still with changing my overall asset allocation. I plan, over time, to lower my allocation to domestic equities by about ten percent and raise my assets in my other asset area by a like amount. This will be done over time and it might take the most of 2015 and possible some of 2016 to get there. When completed my target allocation will bubble some where around 20% cash, 20% fixed income, 20% domestic stock, 20% foreign stock, and 20% other assets.
I also want to thank you for all the post that you present to the board for our reading enjoyment; and, also for being somewhat transparent with your investment thoughts.
I wish you the very best with you investment endeavors.
Out of Abbott (ABT), Added to Gilead (GILD). Added Kennedy-Wilson Holdings (KW). Added to Amgen (AMGN). Sold a little Brookfield Property (BPY). Added to GAINX. Putting a cap on the amount of positions for a while in order to focus on current portfolio and planning likely less additions this year to current positions than previously planned.
Comments
Edit: Probably more like over 2000 warning letters but who's counting
LOL - Please don't screw around at T. Rowe Price where we have about half our assets. You can drive-up operating expenses anywhere else you desire.
I've done more trading in the open-ended funds than is good either for me or for the fiduciary. I keep a log and always surprise myself how they add up every year. Never been called on it - except by a screaming idiot at Strong funds once when I phoned in a trade. Come to learn a few years later, the old man himself was actively trading his own funds on an almost daily basis.
Never can tell!
Strong? The stories I could tell about Strong and INVESCO in the 90s. Were it not for them would be working some menial part time job now.
"Strong funds .. the old man himself was
actively trading his own funds on
an almost daily basis.yesterday's basis"Also thinking of adding to DRESX and starting a position in OBIOX.
Regards,
Ted
BX, as I understand it, is Blackstone's hedge fund. One of my holdings at Price, RPGAX, holds a small amount of Blackstone.
BX is an MLP, as are the other private equity co's (OAK, KKR, etc.)
Also long BX and awaiting the spin-off of the advisory unit, which should occur this year.
A note: BX is a volatile stock and not for conservative investors. The dividend is also variable - it's paying out a large quarterly dividend this quarter after very good results, but you cannot count on a consistent dividend.
I do agree with Ted regarding BX's prospects and they have created a remarkable collection of assets. Additionally, the prior spin-off from Blackstone was Blackrock, which has done okay for itself.
That said, given the company and volatility of the stock, I'm still not going to have this as a huge position.
Regards,
Ted
Thanks again for the answer to my question. Regards
I share your concern about current market valuations. When I look around the investment landscape there is very little I am finding, of good value, for new investment opportunity.
Areas that come to me are Europe, energy, materials, commodities and the metals (which have been recently bid up where I have backed off buying). With this, I respect your decision to more of less stay put. However, I am still with changing my overall asset allocation. I plan, over time, to lower my allocation to domestic equities by about ten percent and raise my assets in my other asset area by a like amount. This will be done over time and it might take the most of 2015 and possible some of 2016 to get there. When completed my target allocation will bubble some where around 20% cash, 20% fixed income, 20% domestic stock, 20% foreign stock, and 20% other assets.
I also want to thank you for all the post that you present to the board for our reading enjoyment; and, also for being somewhat transparent with your investment thoughts.
I wish you the very best with you investment endeavors.
Respectfully,
Old_Skeet