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.
ah, thanks for posting, I'd have missed this one.
With one exception, I was holding most of these in my mind. Hadn't considered the effects on the Long Japan trade; this puts at least a damper on that. As for the leveraged EM traders, well.... we k…
Late last year, we experienced (what was perceived as) a negative credit risk event. More macro and "anticipatory" than anything specific, it did cause junk corporates to pull back (nicely, IMO). What wasn't widely noted was the response of bank loa…
Uh-oh.... now, I think it is time to stop walking and start running in the other direction, if you're still in (with hand on wallet), and stay the hell away if you're still out. This snowball, rolling down the hill, is picking up speed and increasin…
@bee Hey, it isn't "you," so much as PIMCO has apparently decided to transform itself into the Brand Spankin' New PIMCO and has done a big revamping of their website. Information is not where it used to be. I was going to tell you where I saw severa…
IBD: What's your most contrarian position right now?
Gundlach: Probably that if the Fed does start to raise interest rates, the day they raise rates you want to sell all of your high-yield (corporate) bonds and start to buy Treasuries.
IBD: Spell …
@David_Snowball Oh, I actually thought you were joking. Then, I went and looked it up--- you weren't joking! What a Fun House of Mirrors. Nevertheless, considering the chronic under-performance by most of TCW's stock equity MFs, perhaps TCW's newes…
All this was inspired by the principle--which is quite true within itself--that in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotio…
"Townhall.com was launched in 1995 as the first conservative web community. At that time, only a handful of political sites existed and Townhall.com was the first major investment in online activism made by either side. In 2005, Townhall.com split o…
It's a done deal:
https://www.tcw.com/Funds/TCW_Alternative_Funds/TCW_Gargoyle_Hedged_Value.aspx
And if one wants the I share rate of 1.25%, one will need a cool $1M to open:
https://www.tcw.com/~/media/Downloads/TCW_Alt_Funds/TCW-AltFundsPro.ashx
L…
Seems to me unusual that a fund with such a good track record (i.e. DMCRX) would have a negative 5-yr alpha. Maybe it comes with the (true microcap) territory in this asset class?
Hello, MONDAY! And may you live in interesting times....
http://www.bloomberg.com/news/articles/2015-07-27/chinese-stock-index-futures-drop-before-industrial-profits
@Old_Skeet
(1) What was the expense ratio of your composite MF portfolio for 2014?
(2) Since the SEC now requires funds to include a separate statistic that includes all expenses paid by fund shareholders in their fund offering literature (this fig…
On the bond side, I have absolutely no idea what is safe and what is not.
@PRESSmUP Hey, in this asset space, welcome to the club! :) I mean, how does one (or can one) even begin to measure it? Other than noting the presence, or absence, of Ugly ...
In re. HY etfs, good luck with those "creation units" for those wanting to redeem them in short order, when SHTF. And maybe a little divine intervention wouldn't be too much to ask, if luck doesn't suffice.
http://thereformedbroker.com/2015/07/22/th…
@Ted I wonder if these funds will be designed in fact for access to "ordinary investors." I keep seeing the wording as "for individuals," and perhaps we're assuming incorrectly that this means retail flunkies like us. Another tip-off is to note thes…
Some more factoids, from Felix Salmon (no longer at Reuters), re. the Puerto Rican situation:
http://fusion.net/story/159325/the-tragedy-of-puerto-rico-americas-very-own-greece/
@msf Yes, it looks like your initial assessment, differentiating lende…
When it comes to money and investing, I think most people are atheists five days a week, then get religion on Saturday or Sunday.
@LewisBraham I think you should send that notion over to the Pew Research Center; there would be no end to the string…
After the financial crisis and the correction bottomed, and my TGLDX went from the low 20s (my entry) to around 80, that warm "pet rock" provided me with an extraordinarily pleasurable fondle! And things are setting up that lead to speculate it coul…
@msf
After Firefox expressed their extreme disgust with Flash Player early in the week... well, that didn't take long to win back their hearts. Thanks for the heads-up.
Regarding Java auto-updates....... I guess I must be on the B party list. :(
Ann…
@bee
1. An excellent review of a very new area of research re. brain chemistry. What brought you to it--- were you involved in Big Science at some point in your life, or a neurologist? This is pretty high-level molecular biochemistry, largely "undi…
It was also a really bad week for Internet users.
https://thehackernews.com/2015/07/java-zero-day-vulnerability.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+TheHackersNews+(The+Hackers+News+-+Security+Blog)&…
@Ted Oh, damn it, I actually did scan down the list, thinking it was the kind of article that would be something you would have already posted. I must have scrolled right past it. With other things needing to get done, and an unexpected dead battery…
@davidrmoran You hope he didn't get paid? I hope he was publicly flogged. He can't even connect enough dots in a row to see much of his "advice/notions" either don't make sense or are flat-out wrong.
It seems fairly clear to me. You don't loan people money when you know damn well they will most likely not be able to pay it back. If you want to get all scriptural about it, perhaps we could address the flip-side of it, viz. it is immoral to ask so…
The alternative mutual funds Galvin is seeking more information from advisors on are:
AQR Multi-Strategy Alternative Fund
Arden Alternative Strategies Fund
BlackRock Multi-Manager Alternative Strategies Fund
Blackstone Alternative M…
@bee I think I'd like a little more "downside worked into the price," :) but definitely a sector to be moved to the top of the Watch List. By year's end, should have a better lay of the land.
http://www.crossingwallstreet.com/archives/2015/07/ene…
Mathews Asia Weekly: China Market Update (if ya wanna call it a "market", I guess)
http://matthewsasia.com/perspectives-on-asia/asia-weekly/default.fs
"Looking ahead, the government’s efforts to put a floor under the market do not signal that it is…
This article has quite a bit more detail. Unfortunately, it's pretty bad.
http://arstechnica.com/security/2015/06/encryption-would-not-have-helped-at-opm-says-dhs-official/
But some of the security issues at OPM fall on Congress' shoulders—the breac…
Strange alignment with this. The post is guest authored by Gara Afonso and João Santos, purported to be of Liberty Street Economics (I don't know what this is: is it a publication, a think tank, an independent consultancy?. At post's end, we see the…
Yes, I'm afraid to spend money, esp. the portion of cash flow I allocate to reinvesting to build cash flow for next year, and the next, and the next. Looks like this portion will need to be increased now, for next year already.
Obamacare sticker s…
http://www.bloomberg.com/news/articles/2015-07-05/china-stock-plunge-leaves-market-more-leveraged-than-ever-before
"The data doesn’t include unregulated borrowing, which Bocom International Holdings Co. estimates at around $322 billion. That would …
https://www.artisanpartners.com/individual-investors/news-insights/news/press-releases/2015/artisan-partners-launches-developing-world-fund.html
Initially, the management team (apparently, a "team" is one now) will be based in SF:
https://www.artisa…
@scott
draft rules that would permit the state pension fund to invest up to 30% of its net asset value in securities
Oh, dear.... and where permission is granted, some enthusiasm/participation is expected, no? [after all, it worked out so well for s…
Noise? YES--- maybe it's the canary in the coal mine! You guys need to brush up on your birding skills.
One way or another, Greece is a gonner. But is it such an outlier? People speculate it will be forced from the EU, and after a decade (or two)…
