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.
Lots of interesting nuggets in here. I'm impressed that the puny operating expenses I pay buy all of this effort and attention. PG&E and Bayer, among others, get called out for board-level inadequacies.
I've never had an E*Trade account but when only three "points" separate the first four firms I'd be inclined to call it pretty much a tie. Not listed and not worth mentioning: Vanguard.
I have three accounts at Vanguard because I hold Vanguard funds in them. I think their funds are fine. I've tried their brokerage services and I've found them frankly subpar compared to, say, Schwab, where I also have an account. Vanguard's custom…
I've found there's nothing worse than loss. I wish those who are gone could know how much they are missed -- that might help a little. I can't imagine losing a young child but hope there are some good memories.
Interest expense is what the fund pays to borrow money -- it is not paid to PIMCO. They get paid 50 bps (for the institutional class shares anyway) which is pretty competitive (although they raised their fees 5 bps about a year ago even though they…
I read another take on this survey in the Washington Post. It helped remind me that I live in an affluent bubble. Do I know anyone who couldn't come up with $400 in an emergency?
Well, when it comes to the quality of their brokerage platform what he says is true -- in fact, everyone else is years ahead while Vanguard's seems mired in the 20th century.
Controversial? "Everybody" says EM should be part of a well-diversified portfolio. Abundant food for thought here. I'm intrigued because part of me sees what he sees and is in agreement.
From date of inception to 2/12/2016, when it was at its nadir, the fund lost 12%, which would be outside my personal comfort zone for a bond fund. It has rebounded dramatically, no doubt about that. In fact, over the past five years it has outperf…
Many super-rich people make the mistake of thinking they are super-smart, instead of super-lucky, and they act accordingly, with bravado and a false sense of certainty. (Warren Buffet might be an exception: my guess would be he considers himself su…
Recalling how M* blew it with SEQUX perhaps they feel chastened and have adjusted their methodology. As for Longleaf, it seems they characterize themselves as value investors, like Dodge & Cox or Oakmark, though the latter two seem to be a whol…
I'm a better investor, and have achieved better returns, largely because of John Bogle. Does anyone else speak his brand of common sense so forcefully and eloquently? Not to my knowledge.
FMIJX is sort of a "steady Eddie," no lurches up or down. Over the (relatively short) life of the fund that has paid off. Some of that lack of volatility is due to its currency hedging practice and low double-digit cash reserves. I've come to appr…
The market began its rise right at the point when the S&P500 hit "bear market," as it was down 20% from recent highs at its low point this morning. Hardly seems a sophisticated algorithm if that's all it does. (But I'll sure take it.)
Billions of dollars have left the fund, and Herro has led it into a patch of dreadful under-performance. It is a difficult fund to own because its middle name is "volatility." That has pretty much always been the case. I don't own ARTKX but I hav…
"Still believe the market will hit 3000 by year end, but a bird in the hand is worth two in the bush. I done very well over the years, and can now completely relax and enjoy the fruits of my labor."
I find this remarkable because "enough" is such a…
Remember ARTWX? Probably not. Another small cap fund managed by Yockey/Hamker. Didn't last long. Artisan pulled the plug on it when it failed to perform/pull in assets. Hard for me to get comfortable with that firm's way of doing business.
I find M* useful for comprehensive historical data which they do not own but collect and collate nicely. I categorize the editorial content as "entertainment."
"Morgan Stanley last year decided to ban its financial advisers from selling clients new positions in Vanguard mutual funds, the Journal reported. Merrill Lynch has long had such a policy for its advisers."
Way to put your clients' interests first.
Let's see: the S&P 500 appreciated about 220% (including dividends) during the Obama term in office. Does that mean he gets all the credit for that? How bored does a journalist have to be to come up with these screwy stories? Who in their rig…
A few years ago the fund was closed and shortly thereafter it entered a period of extreme volatility. It can be a difficult fund to hold onto (speaking from experience). We'll see how many of 2017's new investors stick around should things get dic…
Given current 10-year Treasury yields I'd say it's right on target. The only way to double that yield (i.e., your 5% notion) is by taking on a lot more risk. You might be comfortable with that.
The managers of FMIJX have stated they do not want the merits of their investment choices "diluted" by currency exchange factors, and there's a certain logic to that stance. Wonder whether the fund's many new shareholders understood the role hedgin…
Five years' worth of expenses might make sense if that advice applies to someone who has reached retirement and the sum is net of all other income (e.g., pension, Social Security). Perhaps that's what was meant.
Famous for being wrong. One day he'll be right but since his investors have lost 45% of their principal over the past ten years, while the broad market has appreciated by over 100%, it won't help them much. The fact that he continues to make 'news…
OAKIX recently re-opened to new investors while FMIJX is about to close. Both describe themselves as value funds. One seems to be finding values while the other can't and has accumulated a large cash stake. Go figure.
