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There is an art to designing user interfaces, whether it is an icon or a name or an acronym. I think D&C did a very good job here - DODxX, where x stands for the name of the fund. Simple, consistent, easy to remember.
I might have done this…
I think he had a large-ish position in PFE that he sold (thesis, large, deep-pockets pharma to become "Merchants of Venice"), and later admitted he was wrong about. Think he did the same with an aerospace/defense name.
But on financials he has bet…
Another thought, can't shorting be used to create "stubs" -- if I want to invest in company A, which I think is a great business, but company A also has a majority stake of companies X, Y, and Z which I don't think are great bets, can't I buy A, but…
I think VFINX did something similar a while back (margin, options). Without digging deeper into the statement at the moment, I think it could be covering bases rather than a fundamental change in investment strategy. Interesting turn of events if i…
Agree. More than DODBX, but still less than many of the other usual suspects. Regardless, very disappointed in Romick and FPA. I thought they were among the (few) good ones.
Hey, guys, thanks for the great work.
Is it no longer possible to edit posts, or post a reply right below another community-member's contributions?
Thanks again !
Thanks, all.
David -- the names of the Tweedy funds are a bit confusing. TBGVX is actually their international offering. TBVFX ("Tweedy Brown Value") is actually their global offering (was morphed over from a predominantly US-only orientation not…
He could have been a star manager under the "old" Royce. But when Royce sold out to Legg Mason, its all been about AUM. Even the "old" Royce played fast and loose at times -- benchmarking funds with up to 30% international exposure to the same-old…
My wife is in Tweedy, Browne because their investment philosophy is very much aligned with her own. The 38% loss in the recent crash was disappointing, but given magnitude of events, I think its understandable that there was little place to hide. …
Reply to @scott: Scott -- please help me reconcile a couple of things in the above post. You think BB is a brilliant investor, but you think the theses underlying each of his top 3 holdings (which account for over 65% of the portfolio) are bunkus.
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I own two of the series (and bought one for my father). They're good books, and I'm sure you'd have an interesting angle or two. I sincerely encourage you to pursue this project, and wish you the best.
Reply to @BobC: There funds look interesting, but are on the pricey side. IMHO they also display a bit more volatility than others in their peer group. That said, I have long been thinking about investing with them.
Maddening. Very hard to know what to expect except more volatility, it seems. Still we are keeping bond allocations lower than normal and going with shorter-dated and flexible bond funds.
Maddening.
Reply to @fundalarm: Those are both CEFs, which I'd have to hold in a brokerage account. Also, I'm never sure of what to make of the discounts on CEFs.
Actually, LSGBX strikes me as rather risky compared to TEGBX. Seems like it has has very high downside capture relative to the benchmark (which surprised me when I first saw that statistic). Is it meant to be an aggressive fund?
The manager, David Nadel, Royce's newest Whitney George (in that he gets put on a lot of new "gee whiz" funds to garner assets before being flipped to yet another fund) was the manager. Did he have any experience as a long/short manager before taki…
Reply to @OregonDan: I love it when funds do this. When Whitney George of Royce handed over management of the Royce Micro Cap fund to his successor (Jennifer Taylor), it was explained "oh, well, she's pretty much been running the fund for about 3 y…
Reply to @MaxBialystock: Not so different in terms in AUM than DODBX, OAKBX, PRWCX and other usual suspects. Not contesting the fact that its bloated mind you, just noting the fact that its AUM compares to a few other obvious choices.
Romick is …
One thing that has struck me as I followed Osterweis over the past few years (reading historical iterviews, etc.) is that they seemed to have had plans to cap the AUM and chop fees for their Strategic Income fund when they hit a specific base. When…
Reply to @David_Snowball: RiverPark Short Term High Yield appears to have lost a bit of money (very little, however) according to my last quarterly statement. Have you noticed this?
Reply to @David_Snowball: Good stuff, David. Thanks.
Can you tell me how Google Finance is using my "portfolio" information? I've always wondered about that as well.
Second the vote for Loomis.
Used to check out Bill Gross from time to time then I simply got tired of reading through 3 pages of tortured metaphor and other clap-trap to glean one nugget of insight.
I also like perusing Blackstone's site once and …
Reply to @BobC: To be clear, I meant "Uncle Jack" ironically. And yeah, his latest "new book" seems like his more recent "new books".
I love the way that M* pals up with Jack, while also being gah-gah over active management. But, that's another s…
Yes, of course. Good luck getting it to happen then.
Still, great point.
Having worked a stint right out of undergrad at a consulting firm that did some executive compensation, I've no doubt the system is gamed. And, its not like CEO pay would…
Reply to @Sven: I'm not sure what your point is. I have nothing against Osterweis. My intent was merely to laugh whenever a fund company boasts at AUM. I do not think mega-AUM is a recipe for success; so we seem to be in agreement there.
