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.
The reason is because Bruce will be re-hiring the Goodhaven managers that he once worked with and Charlie Fernandez will manage St. Joe that will be taken over as a private company by Fairholme --- kinda like what Berkshire does.
Fairholme fund wil…
FPA press release...
http://fpafunds.com/pdfs/press/FPIVX_Press_Release.pdf
"Py and Bokota will also assist with FPA Paramount Fund's new global focus."
http://news.morningstar.com/articlenet/article.aspx?id=397494
FPA Nabs Ex-Oakmark Vets to Launch Foreign Fund
For the first time in more than 25 years, iconoclastic asset manager FPA has filed to launch a new fund. FPA's ability to carve its own p…
This was also noted in David Snowball's Oct commentary but here's an article about it....
Former Wasatch Team Announces Funds Launch-- Grandeur Peak Global Opportunities and International Opportunities Funds To Launch October 17th.
http://news.yah…
Gundlach Has No Europe Bets, Likes Corporates
Jeffrey Gundlach's DoubleLine Capital LP is invested only in U.S. dollar-denominated assets in a bid to avoid losses stemming from Europe's debt crisis.
"All of our international exposure is in dollar…
Hasenstab’s Top-Selling Global Bond Fund Slumps 7.2% as Currencies Plunge
http://www.bloomberg.com/news/2011-09-23/hasenstab-s-templeton-global-bond-fund-loses-7-7-as-asian-currencies-fall.html
It was just revealed that Fairholme now has made a move with 10% of the fund allocated to Greek stocks.
Just kidding.
Anyone interested in any speculative Greek plays that could tank further or maybe triple your investment....sorry I mean to say i…
So far this fund has done quite well in the Global/World equities category over the past few years but yet still only has a mere $68M in assets. Is it possible this fund may not survive?
"DOW JONES NEWSWIRES
Executives at Bank of America Corp. (BAC) are talking about plans to possibly cut as many as 25,000 to 30,000 jobs over the next several years, the Charlotte Observer reported Friday, citing sources familiar with the matter."
…
Reply to @Anonymous ron:
What you're misunderstanding is how it can fit in a portfolio. I wouldn't say to replace your high-quality bond allocation with EM bonds but what I can do is pare back some of my EM equities and use EM bonds as part of my …
I own GIM too and boy it was great back in say early 2009 or just before that to get in on some nice discount. Since then it's generally been trading at a premium for the most part including right now. 2-3 weeks ago during the volatile down week w…
Ok thanks. Not bad of an option if someone wanted hands-free EM exposure and wanting to let the managers decide the mix between EM equities, Local bonds, USD-denominated bond, Government and Corporate allocations. Not a must have fund as you can d…
But what is difficult to find is a Global Bond fund or a US + International Bond Fund combo that can match Hassenstab.
p.s. For a while there was a window of opportunity to get into the no-load IVWIX (Institutional share class) for a low minimum at…
http://www.bloomberg.com/news/2011-08-26/gundlach-s-doubleline-waits-to-buy-until-everyone-in-fear-adds-to-cash.html
Gundlach's DoubleLine Will Hold Cash Until Everyone in ‘Fear'
Bloomberg, Aug 26 2011
Jeffrey Gundlach’s DoubleLine Capital LP is…
http://finance.yahoo.com/video/marketnews-19148628/kotok-adding-to-bank-holdings-for-first-time-since-2007-26420736
Kotok Adding to Bank Holdings for First Time Since 2007
6 hours ago - Bloomberg
Aug. 25 (Bloomberg) -- David Kotok, chairman and c…
Inside Job
Reviews:
http://movies.nytimes.com/2010/10/08/movies/08inside.html
http://www.guardian.co.uk/film/2011/feb/20/inside-job-charles-ferguson-review
Excerpt ---
The savings and loan scandal was not widely seen as a warning signal, and t…
Reply to Andy --- But the Pimco All Asset All Authority has a bit more tools in its arsenal and only lost about 7% in 2008.
Consider that the Loomis Sayles Bond fund lost 22% that year. Fidelity Strategic Income lost over 11%. And Loomis Sayles G…
PIMCO: The Case for Tail Risk Hedging in Emerging Market Equities
===========================================
Aug 2011
http://www.pimco.com/EN/Insights/Pages/The-Case-for-Tail-Risk-Hedging-in-Emerging-Market-Equities.aspx
"- There is a tradeoff b…
AndyJ - "Interesting that EDIV & DEM seem to be fairly close in the way they construct their custom indexes, and yet the sector weighting is very different between the two."
==
EDIV is weighted by yield whereas DEM is weighted by the size of th…
Hi David, what I meant was this...
If WAGOX turned $10,000 into $23,500 and its avg peer returned only $17,000 --- then that is a $6,500 difference "more than its average peer managed."
The $13,500 gain is based on your original $10,000 investme…
Hi David.....Good August Commentary! Just wondering though - it was mentioned in the Aug commentary....
"From inception in late 2008 to July 2011, WAGOX turned a $10,000 investment into $23,500 while an investment in its average peer would have le…
But during that 3 year period --- Lahr and Gudefin handily bested most World Stock funds including top favorites such as OAKGX. Lahr & Gudefin over that period also killed PRGSX - T.Rowe Price Global Stock fund.
Additionally - around the…
[Pimco] What a Multi-Speed World May Mean for Equities
--- Featuring Anne Gudefin & Masha Gordon
http://investments.pimco.com/insights/External Documents/What_a_Multi-Speed_World_May_Mean_for_Equities_Gudefin_Gordon.pdf
M* News...
Manager Resigns From Thornburg
Cliff Remily has resigned as comanager of Thornburg Investment Income Builder (TIBAX). He had been at the fund for a year and a half. Brian McMahon, who joined the firm in 1984 and is its chief executive, …
In addition - there is also the Tweedy Browne Worldwide High Dividend Yield Value Fund.
On the ETF side there's also the Global X Super Divident ETF (SDIV) which appears the yield will be around the 7-8% range and it does hold REITs as well. One…
VF - I understand what you're saying but I was trying to clarify his possible investments in privately managed accounts.
I'm still not clear --- do the SAI's spell out what the fund manager has invested in privately managed accounts or not? That's…
