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I'm in the "mildly disappointed with ARIVX" camp, but not planning to sell. I probably will sell DBLFX in favor of PIGIX, and did sell my whole substantial chunk in VWIAX. I've put the Wellesley proceeds, in similar stock-bond proportion, into other…
As a partial counter to what Joe is apparently hearing from the hair-on-fire soothsayers of cable "bid'ness" networks, etc., here via a Barron's blog is a more measured piece from Fidelity:
http://blogs.barrons.com/incomeinvesting/2012/12/20/fideli…
First, I'd suggest classifying bond holdings into something like these categories:
* "Safe" (intermediate or long, half or more in gov't issues, all investment grade, e.g., U.S. bond index funds);
* Core (mostly but not all investment grade, good …
Reply to @David_Snowball: Yeah, he did have a bit of bluster going on that could have struck people as a little offputting, but I guess I didn't read too much into it; he was probably trying really hard to sound on top of it, authoritative, etc. sel…
Bumped up stake in BBTEX pretty substantially with proceeds from a sale, and took a tactical 5% position in an EAFE index fund (pushing that geography well over neutral), which I'll probably sell when the mo' fades. Also watching munis with an eye t…
Good, informative conference call; the explanation of the "drawdown plan" and reversal answered the main question I had about it.
I'll be really interested in the T. Kong call if that comes about; been thinking about ramping up investment in MAINX…
The gap between the returns of long Treasuries and equivalent munis was nearly 1% Friday; Vanguard's long T fund was UP 0.6%, while the Vanguard & Price long muni funds were DOWN a bit more than 0.3%. As others have said, this very recent sello…
Thanks for the info; good stuff. I've been poking around in the Wasatch and Grandeur Peak territories, but haven't managed to settle on one of their funds yet.
Reply to @BobC: Au contraire, I think Bill G. comes off as totally loopy in his public persona, and think the monthly media starburst of "ooh! he trimmed mortgages from 43% to 42% last month!" is just nuts. The reason I have $ with him (in BOND) is …
I'm selling VWIAX and parceling the proceeds out to other stock and bond funds I own in roughly equivalent proportion, and may do something different with some or all of $ at DoubleLine ... e.g., PIGIX and/or more BOND instead of DBLFX.
I'm planni…
Reply to @hank: Right, info in general at Price is right up there with the best of 'em. I've always liked the way they organize the fund pages on their web site, and the data they cover.
Hank: "They seem to have no problem with someone exchanging all $$ into a single fund a few days in advance; then withdrawing everything from that one fund. This would result in only one $20 fee."
I can confirm that what Hank describes does work an…
Reply to @bee: It used to be Matthews Asia Convertible Securities (thus MACSX) & they kept that as a minor emphasis when they broadened the fund to "Growth and Income."
Reply to @bee: Hey Bee, here's the Matthews website for the specifics:
http://matthewsasia.com/our-funds/f-1/matthews-asian-growth-and-income-fund/composition.fs
It's convertibles & preferreds ...
I own both, but then I have a pretty big chunk in Matthews so am able to have meaningful positions in both. I do think they're different enough to consider owning both: MAPIX, like Mark said, is heavier in the "really developed" developed Asia-Pacif…
Thanks for the update. We're thinking a lot alike; ARTKX is my largest foreign diversified holding, and I've also been thinking about opening a starter position in GPGOX.
Reply to @fundalarm: I should have been more specific on what I meant by "slowing down": I was referring to the yield of DBLTX, which has been in steady decline. The cash stake, which has been up to 20% in the past 6 months or so, must bear a lot of…
Reply to @Investor: Investor, just curious, since I've been considering ARTHX too ... are you keeping both FMIJX and ARTHX, or did you sell FMIJX? There's not a lot of holdings overlap, but I think of the "global footprint" strategy as roughly the s…
Reply to @Bitzer: Well, the assets are piling up, pushing $17 billion now. Gundlach's DBLTX (all mortgage, versus PIMIX's half or more mortgages) started slowing down in the mid-20 billions or so. Consider that there's a large slug of PIMIX's AUM in…
Reply to @Mona: Hi Mona, quick reply here, maybe others can chip in too.
There has probably never been a more risk-averse EM debt fund than DBLEX. If the lower-IG EM bonds Luz P. has $ in continue to make their way up the credit scale, it's likely …
Reply to @MaxBialystock: Hey Max,
Both his intermediate bond funds are set up on a barbell; the T's in Core FI and the gov't mortgages in Total Return are the risk-off counterweights to the riskier assets in the funds ... mainly EM bonds in the fo…
Reply to @claimui: And was it WSR who also pointed out that M* gives gold ratings to some index funds, which appears to fly in the face of the stated ratings criteria?
Edit: to be more explicit, an index fund can't logically get better than an aver…
Shosta,
I guess my response would be kinda-sorta, but not exactly. The indexes have a slight bias toward momentum and "not-value" because cap-weighting cheats a little toward stocks with higher prices relative to the market as a whole. So, I guess …
Reply to @bee: The incorrect CW about rate rises is repeated in the article, to wit:
"Short-term Bonds: Rising interest rates make prices of bonds go down but the longer the maturity, the farther prices will fall. Therefore, shorter maturities will…
Reply to @davfor: Right, got it. It'll be interesting when there's a significant correction, say like the one in 2011, before SFGIX existed, to see how that all plays out.
Reply to @SlowLane: Great find on the chart, SlowLane. Senior bank loans look good, and so do munis, especially lower quality.
High yield (corporates) in '04-'06 are kind of intriguing: not so good in the one year in that period, 2005, when the Fe…
Reply to @davfor: Just for general information, since it's possible to infer from your post that the funds are similar except for the percentage of Asia exposure, SFGIX and MAPIX are significantly different funds even within their Asia & Pacific…
Hey, good discussion topic, folks.
The argument as stated in the article parallels one of Andrew Foster's main investment theses at SFGIX.
My EM stock $ is all with Matthews and Seafarer, except for a small position in FEO, Aberdeen's EM 'balance…
Gary, are you sure you're prevented from investing the $ in the IRA due to the hold? My understanding and experience with Fido and Vanguard is that you can't redeem deposited $ for whatever the hold/clear period is, but that you can use it to buy fu…
Reply to @BenWP: Ben, you may know this, but to be clear, those are past distributions, up to September, listed in the tables; as the text at the top says, eoy estimates will be out the week of 19 November, so in about two weeks.
Reply to @MaxBialystock: Hi Max, "YTD" means for the year since January 1, as of the current date; so SFGIX will never have a "YTD" performance figure for 2012. (It'd be nice if they computed a 6-month figure ... but that's readily DIY-doable from Y…
Reply to @Investor: I don't know what the rules and hoops are on transfers, rollovers, etc. out of the average 401k, but with IRAs, almost all trustee to trustee transfers require specific forms to be submitted with a medallion signature guarantee, …
Reply to @Old_Joe: Or, as the article says down near the end, some of the withdrawals are to roll over into better, cheaper investments ... some 401ks I've heard an earful about from friends are pretty awful: mediocre investment choices or worse, co…
