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I see that nobody mentions DBLTX as a long term bond holding. Meanwhile during the last years it was one of the most steady and rapidly growing funds. Is there some reason why you do not consider it?
This is not a recommendation because this is a new animal. But since there was a question whether there is something similar to WAEMX, sure there is one, WAFMX. Study it well before investing though because it invests in small companies in frontier …
Reply to @catch22:
Well, it was rather weird. They told me at first that they do not have any information about the previous tax efficiency of the fund. They took me seriously only after I pointed out the page in the prospectus which explicitly sa…
I called to PIMCO concerning the historical 100% tax efficiency of the fund as described in the prospectus. They were confused, looked for an answer for two days, and eventually said that probably this fund is not going to be very tax efficient, so …
How about DBLTX? I understand that it is too focussed on MBS, but during the short time of its existence (less than 3 years) money invested there have grown up by 33%, and it provided an incredibly smooth ride, with limited interest rates sensitivit…
Interesting information can be found in the first monthly commentary of 30 April (the fund opened on 20 April): http://investments.pimco.com/ShareholderCommunications/External Documents/EqS_Long_Short_Monthly_Commentary_4975.pdf
At that time, the t…
Reply to @David_Snowball:
I would expect that Romick either recruited them or at least endorsed them. However, he is not an international manager. When Samra and O'Keefe joined Artisan, there were other talented international managers at Artisan, …
Since this is the first fund they are managing, there may be two reasons for us to invest in it:
1) They had a great education at Oakmark, like Samra and O'Keefe
2) They are going to learn from FPA managers
Whereas the first option is possible, t…
Arnott does not like US stocks and says that "Best is emerging markets. Their stocks are trading at a 20% to 30% discount to U.S. equities. Everyone sees emerging markets as the growth engine for the world economy. If so, why are they trading at a b…
Please be careful relying on the recommendations of Ron Rowland. I invested with his newsletter long time ago. The only really successful strategy was the single fund Fidelity select portfolio. It was wonderful for about 15 years. And then several y…
Speaking about the role of age, and example form another Oakmark Fund, today: Oakmark Select Fund Co-Manager to Retire 5/8/2012
Henry R. Berghoef, CFA, will step down as co-manager of the Oakmark Select Fund (OAKLX) and will retire
http://www.oak…
I believe that OAKBX is closed to new investors through most brokers, but you can add to your existing accounts, or start investing dealing directly with the Oakmark funds.
Honestly, I might prefer a fund like OAKBX (closed but I keep an open door to it) of FPACX, but Vanguard Tax Managed funds are very interesting for anyone who does not like to make bets on a single manager. And they may become even more interesting …
Happy birthday MFO! Most interesting Commentary! I am definitely going to follow MASNX.
I have a question/comment about FOBAX. When I compared it to OAKBX since inception (1996), I found that $10 invested in FOBAX in 1996 since that time became $27…
Indeed the paper by Forward Management is quite informative. But $10 invested in their fund, Forward Frontier Strategy Investor, FRONX, at inception in January 2009, became $10.38. During the same time interval (since January 2009), $10 invested in …
Something to consider: DBLTX has 8% yield, and it is less sensitive to the possible growth of interest rates. DBLFX, RNSIX, and ADLIX have smaller yield, greater duration, and grow in part because of the capital gains. I am not a bond expert, but I …
One can buy Natixis ASG Managed Futures Strategy Fund Class Y (ASFYX) for $100 minimum (not $100,000 !) at Scottrade. The fee $17 will apply for the trade in (and trade out, I believe). See http://research.scottrade.com/qnr/Public/MutualFunds/Summar…
Over the last 6 months, RPHYX made 2.3%, which is even better than in the previous 6 months. One can easily check it using M*, or you may just call the fund. Kudos to David Snowball for discovering this amazing fund!!!
You may also check whether t…
I wonder whether there is any reason to prefer GPGOX as compared to GPIOX? If there is any truth in the GMO 7-Year Asset Class Return Forecasts, for the next 7 years US small cap stocks will have an average yearly return -0.5% (their projection as o…
Each time I watch or listen Arnott, he is very convincing, like a professor talking to silly children. Each time I listen Gundlach, he is equally convincing. However, I believe that sometimes they make opposite statements: Arnott says that one must …
Reply to @Kenster1_GlobalValue:
Most interesting! Here is what I found:
http://www.marketwatch.com/story/fund-manager-eveillard-returns-to-first-eagle-de-vaulx-out
They mention:
"The biggest fund, First Eagle Global, has continued to outperform…
Reply to @Kenster1_GlobalValue:
Can you tell us what did you learn after the first couple of years? I cannot find any info about the reasons why they left the First Eagle. I am trying to find out which of the two (IVA or the First Eagle) is the be…
Dear Kevin,
I invest in MFCFX, but it did not shine during the last year, so sometimes I have second thoughts. The fact that HAFLX is one of your core funds is encouraging. Are you fully comfortable with MFCFX and HAFLX despite the short history of…
Just to make sure that we are on the same page: Jeremy Grantham of GMO in November 2011 (the latest time he did it) gave the list of expected returns for equities and bonds for the next 7 years. He expects large cap US stocks to grow 2.1% per year, …
This is an untested fund of a very well tested manager, so this post is very appropriate:
Andrew Foster is the Lead Portfolio Manager of the Fund
Experience
2008 – 2011
Lead Manager of the Matthews Asia Growth and Income Fund (MACSX)
2…
Valley Forge exists since 1972. Since this time, $10 invested in this fund became $173, but if you invest $10 in SP 500, it would become $403 during the same period of time.
Dear Kevin,
Thanks for your comments. I checked the composition of ADLIX, and I wonder whether its outperformance is just the "new money" effect: This composition does not seem much different from DBLFX.
I also looked at the performance of TGLMX v…
Hi Kevin,
Is there a good reason to prefer DBLFX as compared to DBLTX? I believe DBLFX is more diversified, but its yield is smaller. On the other hand, DBLTX is getting very large. I am trying to make up my mind...
Two comments to this article from M* with which I agree:
...since inception in 1995 OAKBX achieved better returns than YACKX, with a much smaller risk.
Of course Yacktman received the most votes. Usually whichever manager has performed the best re…
