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.
@Ted: "This was joke played on members of the M* Mutual Fund Discussion by some jerk named Chang. I hope Kenster1_Global Growth has learned his lesson and doesn't bring any more of that crap from M* Board over to the number one Mutual Fund Discussio…
It'll be interesting to follow how well GVAL does though. It's an intriguing fund as it hits the deeply deeply valued stocks around the world including Italy, Spain, Greece, Portugal, Russia, etc. and so these are some of the top 10 country holding…
I'm confused? David Winters is an avid reader of "The Intelligent Investor" - so shouldn't we also be avid readers of Mr. Winters? Isn't he a "great investor?"
Nah, I'm not much into Barbara --- I'd rather watch Scarlett Johansson or Kate Upton t…
Wintergreen 2013 Annual Report:
Dear Fellow Wintergreen Fund (Trades, Portfolio) Shareholder,
2013 seemed to be the year when the quality, valuations, and risks of businesses ceased to matter to most stock market participants. The Standard & Po…
Why do you hate to tell me this?
It's just an article. What's your point?
Oh and you're calling yourself a "great investor?" LOL.
Why would I mention Marty Whitman? I just mentioned a few key names mentioned in the article including Dan Fus…
Wow, has OAKGX lost a lot of love the past few years? Used to be very popular.
Anyways, OAKGX and OAKWX are also other considerations besides what's already been mentioned.
Style drift can be the forced result of greed when you take in so much money.
FPACX also added some additional co-managers and Romick isn't the lone ranger anymore. Gotta keep sharing the love, right?
SHOW ME THE MONEY!
"From Bruce's perspective, too much money is chasing too few good ideas. This has resulted in what we call "style drift". Firms that had made their mark as small cap or mid cap investors didn't want to kill the goose laying the golden eggs by shutti…
Ted - if that's the case you should also change your handles so that it matches here on MFO forum and other forums including M*. In fact there are several posters here who also do not have the same handle here and on other forums whether it be M*, …
Nigeria's Central bank governor Lamido Sanusi has been suspended.
http://www.forbes.com/sites/chriswright/2014/02/21/as-sanusi-is-suspended-is-nigeria-still-the-worlds-new-investment-darling/
Forbes: As Sanusi Is Suspended, Is Nigeria Still The W…
Keen investors seem to have caught on. What has gone down badly has gone up nicely.
For example - the Wisdomtree Europe Smallcap Dividend etf (DFE) has seen a lot of money steadily pour in and has just surpassed $1B in assets.
DFE: 1-yr...43.81…
Global Value will focus on holding just the "fallen angels."
See this good presentation slide deck by Grandeur Peak on Global Smallcap Investing and an overview of how they invest.
http://soltisadvisors.com/wp-content/uploads/2013/10/Fiduciary-T…
Reply to @TheShadow: Global Reach is still quite small with only $73M in assets.
The Grandeur Peaks Global Opportunities fund was of course one of their flagship funds at inception of their new fund firm and so that got bigger fanfare. It focused …
Reply to @davidrmoran: David let's stop right there for a moment. All I'm saying is that you can tout how great FLPSX has been but please don't use that one example of FLPSX success to extrapolate into why FPACX can balloon massively.
You never…
This is excellent and they are true to their word in controlling asset size --- they want to stay true to focusing on microcap and smallcap opportunities and not take in 5x more money so they can stuff in more midcap and largecap stocks.
I've been …
Reply to @David_Snowball: Yeah sounds like it.
OVER EIGHTY YEARS OF INVESTMENT EXPERIENCE
Dodge & Cox was founded in 1930. We have a stable and well-qualified team of investment professionals, most of whom have spent their entire careers at Dodg…
Was he referring to Dodge & Cox here in the example of a large West Cost firm with an 80-yr history and disastrous 2008 meltdown?
Bruce then mentioned another potentially corrupting factor. His experience was that investment firms compensate ana…
Great overall commentary David. And the Edward Studzinki piece was excellent and here's a portion worth repeating:
From Bruce’s perspective, too much money is chasing too few good ideas. This has resulted in what we call “style drift”. Firms that …
To add what I said earlier - it's a tough call. The GPGOX managers did well while they were at Wasatch and continue to do well early on in their inaugural funds. And I like the fact that the Eric Huefner (Grandeur Peak President) was willing to co…
Tough call but ARTWX is quite concentrated (41 stocks) for a Global Smallcap fund. GPGOX on the other hand has over 200 holdings. So take that into consideration as well, plus I believe GPGOX will hit more Microcaps as well.
I don't think there…
Reply to @Ted: Then why bring up "Bank of Montreal" and "BMO Harris" --- what was the point or meaning of this statement if you know that BMO Harris and their Friendly Lion has nothing to do with Harris Associates? ... "An Chicago institution, now …
My goodness - the day has come where investors are considering dumping OAKBX.
Just years ago - this was the most highly decorated, highly recommended, sleep-well-at-night bedrock of a Balanced mutual fund.
Reply to @JohnChisum: China has been pretty tame. No need for us to become the Asian police force.
China peacefully let the British have Hong Kong for 100 years before getting it back. Macau was in a similar situation - in sort of an out of an …
I was lucky enough to be able to get into FEBIX - First Eagle Global Income Builder Institutional Shares. I was able to avoid the $1M minimum because I have a Fidelity 401k Brokeragelink account.
The fund is like a cross between SGENX and TIBI…
From the article some interesting comments quoted here:
Peter Schiff: "I am a 50-year-old guy with a family, but I would go with all equities, precious metals and little bonds. I’d buy more gold stocks and bullion because of how cheap they are. Als…
I've posted about this before but look at how a lot of people were talking about the decline of the PCs and the surge of Tablets - especially iPads and Android tablets. While this is true - Microsoft has continued to put up excellent numbers.
Why?…
Why an emerging-markets crash wouldn’t matter
Opinion: 3 reasons to let this panic blow over — and find buying opportunities
http://www.marketwatch.com/story/why-an-emerging-markets-crash-wouldnt-matter-2014-01-29
Too bad IVWIX is closed to new investors as that's right up the alley of a Global Alloc fund for someone looking to mitigate volatility.
Right now it has 25% US, 13% Europe, 13% Asia, 12% Fixed Income and the rest in Gold & Cash equivalents. …
Get to know the T.Rowe Price Global Allocation fund a bit more --- see the Oct 31 Annual Fund Report...
http://individual.troweprice.com/gcFiles/pdf/argaf.pdf
Another perspective...
Talking About The All Scary Emerging Market, Market Perception And Investing In General
http://sonykumar.com/2014/01/26/talking-about-the-all-scary-emerging-market-market-perception-and-investing-in-general/
The markets are …
I've loved using Global funds for a long time. Here's the problem when people say that they would rather use US + International funds. Most investors had something like 0%-5% in international fund allocation between 1999 and 2002.
The avg 401…
Thanks for posting - I enjoyed their Annual Report.
Good Q4 Commentary here as well...
http://www.grandeurpeakglobal.com/documents/pdfs/gpgox-comm-20140115.pdf
Reply to @BobC: But it's still tricky though as the EM recommendations seem to rotate.
T. Rowe Price EM Fund (PRMSX) has been highly recommended the past 5-7+ years but yet it has just matched the EM index fund over the past 10 years. If we go ba…
Reply to @Ted: I'm completely confused!
Fairholme Focused Income fund was highlighted because of its freakishly high 2013 returns and thus dubbed "Strangest" Fund by the author! In fact - it was the highest 2013 returning Fixed-Income fund whereb…
