Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Does anyone own Jensen Quality Growth fund, JENSX?
Yes on JENSX, and I've been very happy with it. Have also owned PARWX, but usually avoid it in an overvalued or down market.
When the conservative Vanguard h/c fund reached the stratosphere with a P/E over 30 (by Vanguard's calculation), the handwriting seemed to be on the wall, in neon colors.
I guess she's on vacation ... I think this is the second repeat in a row.
It's PBS spring fundraising telethon time. They always run repeats of CM's shows during those, and knock out most of their best programming for "specials" and nostalgic music…
As usual, I have no idea, but added to junk mortgages after their little blip several days ago, added to stock when the S&P5c made that convincing move above the 50d, and have cut back a little on the rate-sensitive stuff.
As far as junk corpo…
Doug Ramsey makes an important point about the Fed: Fed tightening started in 2014, and there have already been eight policy tightening moves, not the one the CNN pundits et al. recognize.
From the article: "AQR has garnered what amounts to high praise from Vanguard Group’s founder and indexing champion Jack Bogle, who has said that when it comes to hedge funds, 'AQR’s strategy is the one I hate the least.' "
Gotta admit, I didn't think much of his reallocation to overweight Latin America, but the move and the timing was impeccable. LA's had a strong rebound in the last weeks, and Asia's lagging.
Another thought on PTIAX: today looks like it may be a good test of how much effect the long-term taxable munis have been having on the pricing: BAB (taxable munis) and TLT (long Treasuries) are both up, now ~ 0.8% each.
My best guess on the very recent PTIAX loss is that it's munis to a small degree, but mainly the HY mortgages -- and if they've ramped up IG corporates since the Dec 31 report, that might be part of the mix too.
I'm basing that WAG on 1 wk return …
Thanks for the tip on the Am Century fund, Junkster, wasn't aware of it. I'm about equal weight in PYMDX and NHMAX. The Nuveen yield is the main attraction there; Pimco's done especially great considering how much more they've got in investment grad…
Don't know about junk corporates; I'm tempted to first buy more shares in the core low-vol, "quality" equity funds I own when it looks like a general turn toward risk assets is happening.
On munis, the last WealthTrack guest, Dimella of Mainstay m…
I think one can just use a simple 10 mo moving average cross strategy applied to the S&P 500 and long bonds, do better than 99% of these people, and save a lot of time by not having to read their rhetoric ...
+1.
I had to edit/find to convince myself that no, there was no mention whatsoever in the interview of the elephant in the room: Fuss's bottom-dragging 22% loss in 2008, only a shade better than the equity fund PRBLX, and 4x the loss of a certain, almos…
I have a small toehold in it, but may sell it - not that impressed with management. First, they completely missed the previous runup in renewable energy (in 2013); they had zero renewables or close to it for most of that run. Second, the overall rew…
The difference with Vanguard is that the V. brokerage charges the NTF redemption fee on a last-in, first-out basis rather than the standard first-in, first-out basis.
See the second sentence of this footnote -
"9 The holding period begins on the…
Is it any cheaper anywhere else to sell a mutual fund within 90 days of purchase?
If you're talking brokerage fees, as Junkster is, Fidelity's NTF fee period is 60 days, not 90. Sell before 60 days, they charge $50. TF funds cost $50 one way (purch…
Didn't think to ask about capacity - rats.
Noticed on the fact sheet that two corporates show up in the top 10 holdings: Apple and Verizon. Seems like a decent sign if those are indicative of where they'd go with corps.
At least the junk munis continue to just roll along with PYMDX the leader of the pack.
I keep looking over my shoulder on the junk munis, but right, nothing negative's happening yet - but we're getting close to that time of year for munis. I'd hate…
The whole Keynesian Economic fallacy is going to be exposed as a sham.
You should read up on Keynes, then, because you don't understand what Keynesian econ is. Hint: monetary policy alone is not a Keynesian approach.
I googled several different combinations to try to find any word at all on the topic, and found nothing.
However, I did run across one interesting site, called glassdoor, where employees post reviews of corporations they work for. AQR has 43 revie…
I just placed a small buy order for QMNNX into my existing position at Fidelity, and the order went through normally. There's also nothing on the QMNNX fund pages about a closure, nor is there anything on the AQR web site that I can find. Guess I'll…
Yeah, seems in the fund world, contrary to the usual definition, international = foreign (i.e., ex-U.S.).
Re: Bob C's mention of WAIOX, Wasatch seems to be holding up well post-Grandeur Peak defections. WAIOX's chart looks better than the ~ GP equi…
MWHYX, per the last report, as of the end of Q3-15, had a little more than 16% in commodity energy. Maybe they sold a lot of that since, because the fund has done pretty well YTD; either that, or they made some really good picks in energy overall.
Not sure what to make of this - i.e., under what circumstance this quote would make sense --
"A 2% to 3% discrepancy between its price and the NAV is not significant enough to worry about, states Iachini. The key is not to trade massive outliers." …
Seems to me to tend to the slightly less risky, based on my uninformed historical lookbacks and comparisons. (How's that for handwaving?) Its past performance looks not bad when it comes to slumps (bond portion w Gundlach sauce), and its general out…
Herro's guru status has always puzzled me. OAKEX has seemed like a so-so offering from an otherwise great shop, whose performance always seems to be overlooked when Herro is trotted out to do an interview somewhere.
+1. I think (and the charts show…
Another vote for StockCharts here. But actually, M* charts are nothing to sneeze at if fairly basic data is what you're after. Have to be careful with etf's and cef's using M*, but for oef's, it's decent and intuitive how it works.
AndyJ do you ever venture into the preferred? I normally stick with the open end junk munis or junk corporates whichever is trending. But am buying some NPSRX today. CPRRX is the master of that domain but I prefer the funds where the dividends ac…
P.S. I'll try to remember to call 'em tomorrow and see what they say. I've talked to an analyst or manager there twice but can't recall if the IG-junk breakout was a topic.
Did so, nobody was available from the MF team, so I was asked to e-mail a de…
Good point; you're right that it's an assumption. I'd forgotten that it was one that I made early on, but it's made so much sense over the ~ two years I've owned it that I've obviously started treating it as fact.
The mortgages are non-agency, whi…
PTIAX is my largest bond fund holding. The strategy is barbelling IG munis against below-IG non-agency mortgages: good yield, not tax-exempt, with a slight tendency toward rate sensitivity most of the time. A few months ago they lowered the muni per…
Hi Junkster, I had good reason today to regret the buy in the short junk cef, but luckily I hadn't added to it. If it doesn't gain tomorrow, it's gone. The notorious Pimco taxable cef's got blasted; the ones I checked are down by well over 2%, one d…
