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.
Reply to @scott: i agree that partnership (i.e. hedge fund) will give hime 'somewhat' more patient capital, but no assurances. let's say that he'll institute a one-year lock up with quarterly redemptions thereafter. even with this model, after a re…
soooooo, mr junkster. you got sold on all the 'bond bubble' talk and are reducing your sure winner to get into small caps? please do continue to update us on the progress! (i still recall your moving to a tech fund in -- was it 2010? -- and promptl…
my vehicle of choice is CEF: physical gold and silver. volatile as the underlying metals suggest, but at least it is in my "real asset" bucket -- no confusion with equity beta.
i am also quite surprised. in a day when general high yield underperformed equities, and treasurys tanked, this fund -- again -- looks like a winner. i better add to my position while still at a discount (pdi). don't forget 7% distribution yield,…
interestingly, many flows are from professional money managers... decreased tail risks due to stabilizing in Europe, no hard landing in China and fiscal 'hill' (as opposed to 'cliff') in the US drive risk premia lower. the world economic news have …
Like many, tried PRPFX and VWIAX during the Great Recession, but got a hang of doing my own asset allocation and therefore now choosing more pure funds for broad categories. Within those categories however, i am choosing more flexible mandates. Ca…
added to EDI (new EM CEF still at a discount) and PDI (PONDX leveraged brother) in the first week. swapped core bond for PTLDX in a 401K account to reduce duration a bit. all CEFs are horribly overpriced right now - huge premium... waiting for a c…
from Goldman -- some perspective on this equity inflow:
• it is the largest inflow (ex ETF) we have seen in over 11 years (May 2001)
• it is the 18th largest inflow (ex ETF) in AMG history, highlight that 11 out of the 17 larger inflows occurred in …
TAA is more an institutional mandate, but you can try to get there via a private bank or middle market (NT, StateStreet, Chase). If you pique their interest, they might bring the heavy artillery. just ask around -- you don't have to commit if you …
Reply to @Hiyield007: our investment team came to the same conclusion in the fall of 2008. we easily saw that the risk-adjusted return on junk would trump that of stocks and allocated significant portions to junk throughout all clients and portfoli…
Reply to @Mona: hence the borrowing surge, Mona, to get all of it and more with the simply median salary. we all know how that went... i think you're touching a valid point, but it is a different point from the one author is making.
Gentlemen, 2012 went to non-agencies and the game continues. PDI's NAV jumped today, so did JMT's, etc. these are CEFs which employ leverage, but you get the idea. Here is a Morning* review of the best performing CEFs in 2012 -- and all loaded wit…
Reply to @Old_Joe: i came here over 21 years ago, and, for me, the uniqueness of the US is still there, even though it is disappearing as the sand dunes of your childhood. in the former Soviet Union, 'go West, young man (gal)' worked wonders for me …
are you investing in 3c7 funds/ private partnerships/private equity/hedge funds? if you and your wife are investing in US mutual funds (Registered Investment Companies), then the industry is extremely regulated. you might not like the expense rati…
institutions prefer MSCI benchmark and they need liquidity. hence, they use this product. they also check for tracking error. finally, if a mutual fund invests in this thingy, it is subject to a certain 3/5/10 rule which is easier to adhere to whe…
Here is a response email from the company rep:
As you eluded to, there have a been a few recent press reports about fee increases, but much of this has been misreported by media outlets. A recent annual SEC filing updating over 40 iShares funds was…
Reply to @Investor: yeah.. i got PONDX last night effective 12/31, but not PAUDX, which is still missing as i type this despite the promise i quoted from their rep above.
Reply to @scott: ok, neither one is quite correct.. it is technically the same it was for all households making less than 250K (200K for individuals) and many indeed fall into this bracket. above these amounts, divs are getting the health care tax …
thanks, phil and andy. it should have been a 12/31 dividend for all intents and purposes, but at least we are getting it! here is from fido just now:
I have contacted our Operations group and they are anticipating that the dividend for the Pimco…
Reply to @Investor: the back of the envelope calculations would be to divide the dollar return by the initial investment and the net CF, or, in your example: (116090-105000)/105000=.1056 or 10.56% it is not technically correct, but it is a good app…
i use RPHYX as a cash substitute due to its very limited duration. GNMA would be in a conservative fixed income bracket, never cash. its sensitivity to interest rates is too high to ignore. PONDX is a different animal; it's a credit play. Dan ca…
i assumed it was a dividend despite lack of information. i didn't belive a .65% decline for a bond fund in neutral markets, especially since its first cousin PDI was up. PDI's outsized special div Ex-date was on the 26th. Looks like Dan/Pimco just…
Reply to @msf: it has been a choice in my legacy MS 401K which i keep due to the institutional share class availability and pretty wide fund selection. it seems that the growth team at MS had the first dips on all popular IPOs and private placement…
MPEGX..rated GOLD by Morning*. i owned the fund since the crisis and have done well. but i couldn't forgive them having a chunk in Groupon and riding the thing all the way down. i sold it all a month ago.
anyone with fidelity brokerage account in need of trading, embrace yourselves. the site has been backed up recently. today, i am yet to access it. a good lesson to do all year-end trading in november. happy holidays.
Reply to @hank: lol. that's why i haven't responded. he wants to sell bonds, wants yield and no correlation to stocks. some magic asset is yet to be discovered.
Reply to @BobC:
I am surprised that M* included Target Date funds, since these are mostly mandated allocations and do not allow much tweaking from the "manager".
wholehartedly disagree, Bob. The article mentioned how JPM purposely underweighted e…
