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Reply to @Shostakovich: So, now that the fund is so large, why is the farmland portion so small? Surely, he could have purchased the same amount of farmland with smaller AUM? His logic for pushing for increased AUM seems disingenuous. Maybe the F…
A couple of analyses on Apple by authors I respect. Worth reading the comments section discussion on TBI.
Older...http://aswathdamodaran.blogspot.ca/2013/02/apple-redux-thoughts-on-value-price-and.html#links
Recent..http://brooklyninvestor.blogspo…
Good idea to get this thread going. While I am interested and looking more carefully here, there are a few factors that have given me pause:
1) Suddenly there is a lot of media discussion on playing the single family home market. Does this mean t…
Reply to @scott: BWEL is notoriously private. Hard to find info on them. The Yahoo Finance board is filled with spammers/pumpers. However, there is a members only Yahoo group that has decent info:
http://finance.groups.yahoo.com/group/jgboswellg…
Reply to @scott: Thanks for your comments and suggestions.
I have come to accept the K-1 as one additional cost. IEP has an issue of being volatile and thinly traded. It has traded at substantial discounts to the sum of the parts valuation (as …
Reply to @TSP_Transfer: Thanks to you and Scott for your comments and suggestions.
I am hesitant about CRESY and AGRO precisely because of the Argentinian link. For me, the country risk is real. And it is not just Argentina -- look at how Petrob…
Reply to @scott: I moved my list of buys to the other thread on buys. In terms of holding companies/conglomerates, I am thinking about firms like L, IEP, LUK, BIP. May also look at farmland holding companies in the US e.g., BWEL and LMNR. May add …
I am hesitant to dive into the correction with aggressive buys without having a better sense of whether this is a garden variety correction or a sign of worse. When/if I do, I will look at VIG, GIM, KMR, OAK, STWD/SBY and some holding companies/co…
Reply to @scott:
So far, the reaction seems to be measured..at some point, the S&P Futures were down 30. Doug Kass is calling for a 'garden variety' correction but there are others equating this with AHA in 2007
http://www.minyanville.com/busi…
Thanks all for your comments and suggestions. Appreciate learning about other ways to get exposure to private equity/buyouts. I agree that Oaktree seems to be a better stock play than some of the others. I would put Carlyle below them but a bit a…
Reply to @Charles: Nice day to be an investor in FAAFX - 26% of the portfolio is in MBIA http://portfolios.morningstar.com/fund/holdings?t=FAAFX®ion=USA&culture=en-us
Two things that I find troubling about what is an otherwise excellent fund (FPACX):
1) The failure to close the fund and the substantial increase in AUM without a corresponding significant drop in E.R.
2) Romick talking up his use of alternate asset…
An alternative may be to look at the Aberdeen CEF - symbol FEO. There are some differences -- FEO covers equities and bonds, expenses are higher (1.68 acc to M*),you have to deal with the discount/premium issues in CEFs and the manager is different…
Would appreciate any insights on how this fund differs from PDI, other than the different management teams. Does one fund have more flexibility in terms of types of bonds or the ability to short credit? I am curious is there is a CEF similar to FL…
Apologies for the lack of clarity on my part -- when I said 'large growth fund with defensive capability," I was thinking of large growth funds with some defensive flexibility or aggressive world allocation funds (that have a global large growth ori…
Reply to @andrei: Thanks for the additional info on the manager's investment in PKO.
A fund manager's investment in his/her closed end fund can be more informative than a manager's investment in his/her open end fund. In the case of the latter, th…
Reply to @catch22: Sorry about the lack of clarity. Yes MFCFX is available at Fidelity; However a number of others are not. My hesitancy re: MFCFX has more to do with the high ER and lingering concerns about the situation at Marsico and the departu…
Thanks for all your suggestions. I will look through the names carefully. I am looking for a large growth fund with some defensive capability -- e.g., world allocation funds like LSWWX or WASYX or a more US focused fund like MFCFX. I think MFCFX h…
What are your thoughts on buying PDI at this time -- on the plus side it is trading at 1% discount. Excellent manager who invests in the fund. A high level of flexibility in the fund's mandate. My biggest concerns are that the fund has risen very …
Scott and others,
I am looking carefully at some of the newer reits that are investing in distressed properties/short sales/single family rentals in the US -- SBY, RESI, TCN.TO, TWO (which owns about 50% of SBY)
I am doing due diligence on these n…
Reply to @scott: Thanks for the links. Much appreciated. I have been looking to get into OAK as it seems to be one way to play the distressed debt market. There aren't too many distressed debt mutual funds and the Third Avenue fund (TFCIX) has no…
Reply to @scott: I realize that this may have been discussed before, but could you or anyone else on the board help me understand the restrictions/limits on owning a partnership in a tax sheltered account?
Thanks in advance.
Reply to @scott: Thanks for sharing your portfolio and your comments. One question about the international stock holdings (Glencorp, Jardine Matheson etc). Is it better to buy them on the foreign stock exchanges or to buy the 'pink sheet' listings?…
Reply to @scott:
Scott..do you have any idea how the new MV fund will differ from AQRIX? Both have the same targeted volatility range (10%; ranging from 7-13%). Are you likely to stick with AQRIX or look at the HV version?
The SEC filing was do…
Reply to @perpetual_Bull:
Hi perpetual_Bull,
My issue is not so much with the reopening as it is with the 12B-1 fee. ARIVX is not the only one that charges a 12B-1 while being closed or not marketing actively; there are plenty of others that do t…
ARIVX had been closed for sometime. After reopening, the fund commits to not marketing the fund. Yet, it has been collecting 12b1 fees and will continue to do so. Responsiveness to shareholder questions and nicely written letters to shareholders a…
Reply to @scott: Scott..Thanks for the links. Very helpful. You are right..more like an aggressive MFLDX than PMHIX. Thanks again for highlighting this fund.
BWG