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.
@davidrmoran, there's certainly no shorter-term need, I'm thinking in terms of 40 years and most likely more. My thought, though, was that some things can be out of favor for more than a decade. Based on valuations today, GMO predicts negative rea…
Thanks @bee, the first article in particular was very informative for me. I've wondered about sequence of return risk from a different perspective historically and that is if you bought the idea that small value outperforms in the long-term and sta…
They still provide some Morningstar tools. Since I have an account I'm not going to attempt to reregister, but it looks like this page might be what you're looking for:
Register For The Site
https://www3.troweprice.com/aaweb1/accountAccess/public…
According to M*, Longleaf's current portfolio is true small cap value and it has 63% small cap while VVPSX only has 45%. Historically, back to the beginning of 2010, the 2 funds have performed almost identically, but over that time VVPSX has led al…
If anyone had a choice, which currently we don't, would you rather have the Longleaf small cap fund, or the Vulcan Value small cap fund considering CT Fitzpatrick was one of the 3 main guys who built a great record at Longleaf before he left to star…
Sorry, one more piece may be worth adding. The majority of their leverage is coming from an index swap. So they're just adding exposure to a few indices, like the S&P 500 and the Nasdaq 100 on top of their disclosed holdings and that more than…
Forgive me if I'm repeating a piece of the puzzle that's already been stated but I think the Venture Capital Fund is leveraged a bit more than 2:1 and that's what's driving the outsized returns, that's the secret sauce. I haven't quite figured out …
Where does DSENX FUND fall in your buckets? Large Value, Allocation, or ?
Seeing as DSENX invests in those sectors that are the cheapest, I would it expect it to be less volatile than the market and that it would resist downdrafts better. Why don't …
I think the decision about the amount of cash or low volatility investments to hold is not much about a "right" answer but is highly individual. The average length of a bear market can be misleading. During the Depression and the beginning of this…
What happens when they make a mistake? Providing an indicative value every second is admirable but I have to imagine is not easy for it to be perfect every second of every day. Who bears the responsibility for those mistakes and any losses that re…
M* says they have $12.8 million in AUM and its a large value fund. It sounds more like planning to liquidate rather than being worried about anything else.
I don't really understand the point of owning multiple Grandeur Peak Funds though. But to each his own.
For me the thought was that they were very good with their small cap picks and I wanted them to address a good portion of my small cap exposure …
So you're rethinking about your interest because of distractions, yet you're considering adding a fourth fund from the shop? How does that work exactly?
I didn't actually say I'm rethinking my interest. I said I'm debating between justifying their…
As much as he brought passive investing to the masses I think he deserves a ton of credit for putting pressure on the fees we pay to invest. Both have been invaluable to the everyday investor and he will hopefully be taken good care of whatever hap…
I've been wondering about their performance, all the personnel rotations they make and their relationship with Rondure. They were way too early with their allocations to emerging markets and their letters make it sound like their industry "preferen…
Are there any other global micro cap funds other than this one and Grandeur Peaks GPMCX? I don't own this fund but its a bit of a shame to see it go just because there were so few options to begin with.
Both FMIJX and VFVFX are doing well this year despite the challenges in international and global funds.
Both of them hedge their currency exposure which goes a long way in explaining why they were both close to the bottom of their category last y…
Just a guess because I don't know the fund well, but Andrew Stephens started this fund and managed it until he retired in 2014. I can't look at the category rankings before 2008 but it seems like performance suffered after he retired, or maybe afte…
Most of what I follow has already been mentioned but I'd add:
IWIRX- I'm not betting new money on this fund these days but it was profiled here I believe and performance has been great, especially if you compare it to the World Stock category rathe…
Recent reading indicates they’ve been selling puts on equity funds. I’m not well versed on options, but gather that they limit both the potential upside and potential loss on a stock by doing this. The put-option also apparently generates additional…
If I sell all, can I still buy it later, provided I haven't exceeded the maximal amount allocated to me?
No, once you're out any later desire to purchase is as a new investor. Since the fund was significantly oversubscribed and is hard closed, I'd …
You didn't mention anything suggesting this could be a consideration, but the parents of one of my closest friends created a trust with my friend as the beneficiary, no withdrawal requirements so he had total control over what he took and rules that…
Hi @Old_Skeet, I totally agree with you that investing is both art and science, which I attribute to the science of using the past to help understand the likelihood of certain outcomes in an unpredictable future and then the art of choosing among va…
I've done both before as well but in my mind this guy is dangerous. Other than the difference between a short-term trader and having a longer time horizon there wasn't much about how you decide when it might be appropriate to double down, just that…
Since GISOX's inception it's winning that comparison but it's close. PRIDX has clearly been a great fund for a very long time but considering its closed to new investors, GISOX might not be a bad bet for the future.
Generally, I take no more than one half of what my five year average total return has been. In this way, I grow principal over time.
Hi Old_Skeet, I also appreciate your monthly updates but wanted to ask about your quote above. I was wondering why…
@msf, I think you may be confusing E*TRADE with TD Ameritrade. TD Ameritrade dumped Vanguard etfs from its commission-free list last year and as far as I've ever been aware E*TRADE has never offered Vanguard etfs commission-free, until the change T…
Its far better to have a fund that outperforms its benchmark on a consistent basis. Is anyone aware of any studies that try to correlate such outperformance with team based or individual approaches? That might help answer the question. In the mea…
I own GPIIX, GPEIX and GPMCX and I wouldn't consider selling anything. If you want to add I would consider Global Stalwarts and then wait/hope for the day when GPGOX opens again, at least to existing investors. I believe that time will eventually …
I think you're talking about Amit Wadhwaney, who "retired" in 2014 and then started Moerus Capital Management in 2015. They have one fund, Moerus Worldwide Value, that hasn't done particularly well and hasn't gathered more than $55 MM in assets in …
"Barron’s made a qualitative assessment of these ETFs to find some good ones."
It would be interesting to know what "qualities" Barron's considered because claiming their good without giving anyone the ability to know whether the criteria match up …
It's been a while but I think many of these procedures are driven by requirements to make sure they're not involved in money laundering. The simplest way to do that is to create draconian procedures that essentially put as much of the burden on the…
Thanks from me also Ted. I did listen and he doesn't say much as an update of his melt-up paper. They did talk about what he wrote in early January and I think you can assume from the numbers discussed that we're not there yet, but they didn't dis…
