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In high school I was always a bit of a cutup. I was in French class and asked to be excused. Instead of going to the restroom I just roamed the halls. I learned JFK had been killed from the school secretary and before it was announced on the PA sy…
Upon further review, it looks like ASHAX has struggled as of late like most of the HY sector. Maybe some of those energy purchases are hurting performance? I'm still very intrigued with PMZIX and contemplating whether to go with that or DBTLX as a m…
Better yet to be in high yield munis such as ABTYX or PYMDX. That category was the star in 2014 ( EIHYX NHMRX) and again this year albeit more muted and without the volatility of the corporates. Yes, trends do persist. Some of the (so-called) ex…
@TSP_Transfer: Thanks for the lead on PTIAX. It's an interesting looking company and group of seemingly smart managers. I have much regret about getting into RPHYX and RSIVX after acting on what I read on MFO.
The Crowd by Gustave Le Bon published…
Old_Joe thanks for the compliment but I am not a valued information resource here if only because I am too out of the box especially when it comes to the conventional wisdom on compounding one's nest egg. One reason for that is in my 20s and 30s I…
(all marketing to the contrary).
And I thought I was the only misfit here!!! Meanwhile back in the real world in bondland, it's much the same as in 2014 with the high yield munis leading the way. Some of the better ones up 4% YTD.
Edit: Heav…
So we are suppose to buy commodities based on some gold bug whose flagship fund (PSPFX) has lost money over the past 1,3, 5, and 10 years?? One of my luckier moves in my trading/investing lifetime was staying as far away from commodities as possibl…
Hank, was going to post this but sounds a bit like a drama queen so will just post it hidden in this thread. I am going to delete this fine forum from my computer. Great as it is, it takes up too much of my time and the off trail hiking season at…
>>>I read into both your approach (and Junkster's) an interest in anticipating market moves in advance and taking decisive action to protect assets or take advantage of opportunities. That's not everyone's cup of tea. But I'm sure it works …
Nice post above Old_Skeet. As of last night's close I am 98.8% in cash after selling two bank loan funds. My 1.2% is in IG and will bail on that if it trades down to the 7.90-95 area. You could be spot-on about the upcoming earnings season.
The ETF returns above are price only and don't reflect dividends. It' still not a pretty situation but not as dire as portrayed, at least for the bond related ETFs.
ASHDX looks among the best in the short term junk category and may put some money there depending on the market's reaction to the Fed news this week. It's Non Transaction Fee and no short term redemption fee at Scottrade. Still, where goes oil is…
I never fall in love with a fund manager or for that matter even care who he is. I see far too many who are in funds that have lagged for the past 1, 3, and 5 years (some severely) yet refuse to sell because of their confidence in the fund manager.…
Just skimmed the article but the bottom line seems to be that 35 years (for a 65 year old couple) is now considered to be a conservative estimate. Meaning, more and more are expected to live past 95. I simply don't see that and feel we all overest…
@Junkster- Actually it's Maurice to whom you are I'm sure referring here. But I do agree that Zweig was smart - and also about as "genuine" as they come.
Yes, my apologies to Maurice. Senior moment at 68 or too engrossed in monitoring today's act…
Yes, I see the NYSE has 96% up volume and 4% down volume. On issues it is 90% up and 9% down. I think the late Marty Zweig had a buy signal trigger, when the Advance/Decline volume was a 9-1.
You got it Hank, one of the better buy signals out ther…
RPHYX should be just fine as long as junk bonds don't crater any more than they have. With energy rallying so much today and junk bonds too, the bulls are hoping a bottom is in for both.
Andy, nice find on PMZIX/PMZDX.
Bonds should return principal if held till maturity. Is there any risk that will not be the case for short term HY funds held for 3-5 years?
I am thinking about rising interest rate environment with falling bond prices. Can, for example RSIVX, be …
I've always said RPHYX is not a good cash substitute primarily because it has never been tested during a bear market in junk bonds. I don't care what the fund manger may say, this fund will get hurt in a junk bear market and we have seen how it has…
Dex, It wasn't I that pointed out HYD as more times than I can count I have lambasted junk ETFs on this board. Today is yet another example as HYD was down over 1% while the open end were unchanged to up. Check out NSIOX or the more conservative …
Yes, Dan Sullivan is one of the better ones out there. And as you mentioned, he has a real money account. Must be a big difference between a timer and a trader (and there is) as I could never imagine sitting through the drawdown Mr Sullivan must h…
Dex, It wasn't I that pointed out HYD as more times than I can count I have lambasted junk ETFs on this board. Today is yet another example as HYD was down over 1% while the open end were unchanged to up. Check out NSIOX or the more conservative …
Many of the prices today at/near the lows were illusions and because of bid/ask spreads etc were only available if you were investing in a make believe account.
Many Vanguard ETFs had trading suspended during the first hour this morning. All had …
"In that case: Last one out please turn off the lights."
Oh, absolutely. If there's another 2008, then - as I've noted before, CNBC will be hosted by tumbleweeds. You will absolutely not get the average investor back - for years.
The average inves…
Here is another take on QLACs: http://andrewtobias.com/column/qlacs/
In reality annuities are a poor investment. Even more so in this low interest rate environment. The article above has some errors but makes two good points. An annuity can give …
I wonder if this dramatic open will be called a flash crash. In the past there was at least one occasion where the trades were cancelled after the fact.
Sure seems like a flash crash to me similar to May 2011. I had trouble logging on to my Scott…
Many of the prices today at/near the lows were illusions and because of bid/ask spreads etc were only available if you were investing in a make believe account.
I would think the one thing that could cause the greatest decline in the market is not China but more pain in the energy markets. More pain would be greater than expected bankruptcies and then a rout in the junk market. As much as we have heard ab…
Up today and up for the week and way ahead of its category which was a loser. Never been more frustrated since I am unable to purchase it here in KY. Then again am even more frustrated in that I have a small position in another bank loan fund I wou…
You have options with this product as with any annuity, But the highest monthly payout is no death rider and no inflation rider just the plain vanilla QLAC. And you are paid for your lifetime. Should I pass before I collect it really won't matte…
Not sure if the below was linked but answers a lot of questions on the three firms that offers QLACs through Fidelity and more. I also like the annuity calculator below. Looks like maximum age is 82 to purchase one. Personally, would take benefits…
Below is a more informative video on this new product. New York Life will be jumping into the QLAC fray next year. When I turn 70 in 2017 that is where I will be putting my $125,000. I will begin taking my benefits at age 80 - God willing. I hav…
From the below it appears Mr Grantham has had a bearish bent on U.S. stocks for a long time. Since 1994 if the first link is to be believed. On that first link scroll all the way to the bottom for some of his comments and predictions. I am sorry …
As you say "imperfectly" as WARAX is a stinker. Correct me if I am wrong but GBMFX is GMO's flagship fund. Not exactly a wealth creation machine, especially the past five years where it has underpeformed in its category.
http://www.morningstar.co…
GMO has had a terrible forecasting record since 2009 (and most likely before) They always have a bearish bent. Grantham is always talking up timber. Here's a 40+ year chart for lumber. Rule # xx for creating wealth, stay as far away from commod…
Dex, in 2008 the average open end junk muni fund lost 25.27%. HYD wasn't around then but since it underforms the open end funds the loss would have been more. The safe haven is Treasuries and to a lesser extent high grade munis. Still, as you said…
