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.
I dunno, trailing five-year returns of about 1% per year are objectively awful, let alone sub-optimal. You can't eat relative performance. I wouldn't think the fund is "designed" to achieve such returns. Pretty darn sure that's not what management…
There sure isn't anything wrong with wanting FDIC insurance, now or ever. I've been moving funds from MMFs into CDs in order to lock in higher interest rates; FDIC insurance was the cherry on top.
Why would someone think that funds in a Schwab money market fund would be at risk? Those funds are not invested in anything having to do with Schwab. If the underlying assets were at risk that risk would quite possibly stretch over many other prim…
I agree with what others have said here. What struck me in the letter was another GP mea culpa and that somehow the extreme drops in the funds could have been mitigated in 2022. The solutions, which sound to me like creating more committees, do not …
If you compare 12 month rolling total return of RPHIX since inception to the beginning 1 year UST, there are 136 measurable periods. Below is the max, min and average excess return:
Max 5.09%
Min -1.71%
Avg 2.13%
Those seem like pretty good odds.
I'm guessing RPHIX made some sort of "special distribution" as well, though why it wasn't included in the updated version of the December distribution announcement is annoying.
The Primecap funds have certainly endured a few years of bad luck -- POAGX in particular was perfectly positioned to crater when covid struck as it had outsized stakes in things like airlines and cruise lines. Yet the fund is idiosyncratic, that's …
It is impossible to extrapolate completely as you said, but given that interest rates went from 3% at the end of September when this last shareholder letter came out to 4% on November 2, it is probable that the yield on this fund will be increasing …
This is exactly why latinate western European countries snort derisively at Anglo-Saxon capitalism. We are sunk in in a system that puts profit above all, and I mean all, else.
Pretty much back to the way it was. Banks may be coming to the realization that, no, the Fed's not done. That's certainly been their messaging this week.
I could easily imagine a 5% or 6% return for this fund over the next year.
A reasonable person could conclude that that's what those yield figures, in black and white, are intended to suggest, at the very least. If they do not in fact come to pass…
Go to page 10 here: https://riverparkfunds.com/assets/pdfs/rpsthyf/commentary/RiverPark-Cohanzick_3Q22_Shareholder_Letter.pdf
Those yields, if realized, would result in the fund's best performance ever and would exceed any return short-term CDs are …
I ended a Prime membership in part because packages are delivered ahead of estimates anyway (and I'm just not that impatient) which suggests to me lots of deliverers making fewer deliveries. Still, I live in a condo and already the daily Amazon dro…
Mortgage rates dropped too. Call me skeptical but I'm not sure today's CPI necessarily constitutes a trend, though it would be nice if it did. I'd be delighted with a few more 5% up days: a couple years' worth of CD returns just like that!
Uh, I don't know how to insert this into the neatly done alphabetical order above:
https://www.parnassus.com/parnassus-mutual-funds/distribution-estimates
Sure, I can see that one of her funds has performed well on a relative basis (the other not so much), even though the returns are puny. I'm too ignorant to pick winning stocks so I'm in no doubt she's more competent than I'll ever be. The OERs on t…
I'm in agreement with @Ben. For my money (and Ms Geritz has none of mine), I would have preferred to read about specific stocks owned by the two funds and why investors haven't made a nickel since Rondure's inception. I think we get enough macro-eco…
I may be misremembering but I believe some of their past literature expressed the notion that they should compare favorably in a sell-off. Many "growthy" oriented fund managers seem to lack "sell" discipline, i.e., the sky's the limit when it comes…
From littering on the street to walking away from toxic dumps there are a whole lot of people who expect someone else to come along and clean up their mess.
Primecap funds at https://www.primecap.com/ have 2022 estimates now
Rather large, again. Looks like around 9%, for example, in the case of POAGX. Even in the midst of several years' worth of redemptions, plus this year's losses, they may not feel l…
Hey!! I'm half Genovese... cool it with the Italian stuff! :)
I don't follow Italian politics either (I think that could drive a person mad) but ya gotta wonder about a system that installs a new prime minister whose party secured only 26% of the p…
I don't closely follow British politics but it's looking more and more like Italy in terms of instability, ignorant populism, and north (Scotland) vs. south division.
It looks like the Matthews group has been hemorrhaging assets and now manages less (a lot less) money than they did 10 years ago. The company is flailing and throwing all kinds of sh*t at the wall in the hope something will stick. Look at the mass…
It sorta looks like he thinks he can do whatever he wants without facing consequences, let the chips fall where they may (invariably on others). Gee, that rings a bell.
I owned OAKIX for years. I'm not sure you should pay any attention to my experience or opinion but since you asked . . . . That fund is exceptionally volatile. Periods of outperformance were always followed by periods of underperformance. Talk a…
First we had meme investing, now it's novelty investing. Actually, "investing" is the wrong word. I have to assume it doesn't cost much to launch an etf.