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LewisBraham
Hi Hank,
Your satire came across very well. Don't worry about the user name.
Best,
Lewis
“I do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space.”Wood went on to tout her belief that the technologies ARK believes and invests in “should transform the w…
@Mark you speak as though she is deceiving/conning her investors and stealing their money.
No, I'm not. Don't put words in my mouth. I am speaking about a structural problem that has existed in the mutual fund and ETF industry since the beginning. …
I don't doubt she invests in her own funds. I've checked the ETFs' SAI and she definitely has money invested in them, but I would be surprised if she has her entire net worth in them. Interestingly, she does not have an equal amount per ETF:https://…
Yeah, no argument with you here on that, but I think having an unwavering religious conviction about the ostensibly scripturally-ordained outcomes for other people's money in a manager's portfolio invites an agency problem of biblical proportions. L…
As a money manager, what works best for yourself and what works best for investors can be and often are two different things. Consider the high beta leveraged hot story stock manager who does better than average in bull markets but terrible during b…
Any country that shifts from being an industrial nation that produces physical things to a more service oriented one will most likely see a drop off in carbon emissions. I would expect the U.K.'s decrease in emissions might in some ways mirror the i…
That is also correct. In some respects, S&P funds aren’t automated index funds in that the stocks in them are selected by members of the S&P index committee and one of the criteria for the committee’s inclusion of a stock in the S&P 500 …
Regarding the exclusion of negative earning companies in p-e calculations, that is correct and actually leads to major distortions in valuations of especially small-cap index funds. But I would think for large-cap funds, the calculation is closer to…
This fund has an average p-e ratio of 45 according to Morningstar. I would be very curious to see how it performs in a rising interest rate environment.
Contact NAPFA. Say you're looking for an advisor who charges either a flat fee for a financial plan or an hourly rate instead of AUM: https://napfa.org/find-an-advisor#
The issue with credit card companies and race seems not to be one currently of gouging with higher interest rates like payday lenders but who companies are offering credit to at all. My reading indicates that many minorities and African Americans es…
I agree that it seems like they waited too long on that one, but they did ultimately sell Wells Fargo and said it was for ESG reasons: https://parnassus.com/updates/article/parnassus_sells_its_wells_fargo_holdings
Parnassus Manager Hwan's impression is that the behavior of lenders like Discover during the Covid crisis was far better than during the 2008 crisis as indicated by the company's willingness to offer temporary relief to strapped borrowers. As for cr…
Not that any lender doesn’t have issues but:https://investorrelations.discover.com/newsroom/press-releases/press-release-details/2020/Discover-Releases-Latest-Corporate-Responsibility-Report/default.aspx
https://google.com/amp/s/www.cnbc.com/amp/se…
If China is communist, explain then how such glaring wealth inequality exists in China and there are numerous publicly listed Chinese companies with capital invested in them that produce significant profits for their founders and investors. Note the…
Walthausen I believe is fairly up there age wise. His site describes him as having been in the business over 40 years. Here's a photo from ten years ago:
A rather misleading click-baity headline. The natural gas ETF, which admittedly is not a perfect proxy, is up 0.03% today--https://morningstar.com/etfs/arcx/ung/quote Talking about prices off of 2020 pandemic lows when oil went briefly to zero is ab…
China is pretty far from a communist government today or really any day in its history, despite its own claims to the contrary. It's more like a totalitarian capitalist one now. Many of the business-folk billionaires there dwarf American ones, and y…
As the saying goes, economists have predicted five of the last three recessions:
https://advisorperspectives.com/articles/2021/05/06/david-rosenberg-the-consensus-is-wrong-about-stocks-bonds-and-inflation
The consensus is that U.S. equities will d…
@Bitzer While I agree with you that black box funds present unique problems, I challenge anyone to examine all of their favorite bond funds of a decent size from the major fund shops and say they understand exactly what the fund is invested in and w…
AMZN could go down a long way without it being its demise. The stock has a market cap of $1.7 trillion and a forward p/e of 56. Let’s say it fell 2/3 or 66%. That would give it a closer to normal p/e of almost 19 and a still sizable market cap of $5…
OK, reduce the debt. Keep all public services the same or increase them, but tax the wealthy appropriately to pay for them. Why is this always an either-or argument in the news, as in, either we cut public services or the debt becomes unsustainable…
It's not mind-boggling to me if you consider how the U.S. counterparts of these Chinese tech companies have interfered with out democracy and our economy. If China regulates tech too much, the U.S. regulates too little. There should be some happy me…
I've been thinking that as a developing nation grows and become a mature developed one--with a lot of valuable assets yet slower GDP growth--that it makes more sense to shift the tax base towards the assets and away from just income or GDP. The accu…
The latest U.S. household net worth is $137 trillion--https://bloomberg.com/news/articles/2021-06-10/u-s-household-net-worth-reaches-fresh-record-on-homes-stocks--so this graph is a bit old, but the point is there are always these cries about how th…
I often try to look beyond performance based satistics, which includes risk numbers, to other factors. I look at the portfolio's average market cap, its average valuations, sector and stock concentrations--what percentage in tech for instance, or wh…
PRWAX only has about a 4% weighting in small-caps according to Morningstar, with an average market cap for its portfolio of $124 billion. I think one choice might be to cut back some on PRWAX and replace that with RPGEX instead--another T. Rowe fund…
Given that this fund holds leveraged ETFs amplifying exposure 3X the S&P 500, I don’t find it particularly defensive. I imagine the goal is to get out of them in time during market slides. Be careful.
I actually think the author of the article’s advice is sensible on the whole, but I also think talking about funds and ETFs is very different from analyzing an individual family’s financial goals and figuring out what their specific financial plan o…
It might be more useful to see which funds have held up better during previous downturns and their overall downside capture ratios, bear market ranks, betas and standard deviations. Options can be used in a lot of ways, not always for downside prote…
Any reason you want them to be using options? Cash is easy to screen for. Some that probably use options Leuthold Core and Global, LS Opportunity, Wells Fargo Absolute Return, Franklin Mutual Quest, Global Discovery or Shares, Invenomic.
