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 would recommend reading each quarterly fund commentary from their website going back 1-1.5 years. I remember one of those commentary briefly discusses reducing their risk.
Thru the years I have reached the the point I ignore anything but the basic equity/fixed income ratio when comparing funds. Managers normally stay true to their culture and cultures are reflected in performance and risk metrics. Although I am in th…
Thank you for your excellent work! I wonder if there are a handful of truly exceptional funds that are worth spending the commission $ for? We don't know what we don't know....
PM Romick has a good record in smallish allocation of $ in closed end bond funds in recessions with hefty yields. They have a tendency to rebound quicker than equities if the right vehicle is chosen.
It is interesting to observe balanced funds during this phase in the business cycle. Within the M* 50-70% equity category the risk level an investor assumes can vary widely. It tips the hand of the fund's perception of risk vs reward. M* produces…
The obvious problem being that there are funds that sit on 30% equity historically. Basic only allows a hard filter for either 30-50 or 15-30 screens. An investor searching for 15-30% equity may find a suitable fund sitting on the lowest edge of 3…
Where do you see 59% of portfolio in B and BB bonds?
PMEFX Inception 7/31/20.
As of 9/30/20: 25.7% equity and 74.3% bonds. Of the 74.3% bonds: 22.7% AAA, 6.1% BBB, 27.2% BB, 22.6% B, 3.9% CCC and 17.5% convertibles. Not enough time to see h…
Your work above on CTFAX showed its possible for a F of F's to have 100% TO ratio.
BAMPX had numerous portfolio changes 3/31/2020 to 9/30/2020 (per annual and semi annual) as did CTFAX. Although the bond/equity allocation of BAMPX remained cons…
CTFAX Statement of Additional Information p.102 says under normal conditions the portfolio turnover rate is expected to be below 150%. The past 4 year CTFAX avg has been in the 100% range like BAMPX 98%. CTFAX makes portfolio changes relative to ch…
Much of the turnover in BAMPX appears to be coming from Strategic Income Opps fund (1805%) and to a lesser extent Master Total Return (556%). Total guess....perhaps short term paper purchases?
Does M* calculate fund metrics (for example risk and volatility measures or value and growth measures) themselves or is data provided by a third party?
I am hearing again of late from multiple credible voice of reason sources reminding us something to the effect ... "we must buy fixed income even tho the space stinks". This is not necessarily new news. However, when you reach the tipping point wh…
The most important take away here is to note the date of the change. The proof is in the pudding. The clock resets in my book. Talk is cheap. Past performance does not guarantee future results etc etc etc.
some of the best money managers in my book are those that have the insight to recognize a growth stock enduring a short term set back that has fallen into the top edge of the value spectrum. thereby reclassifying it as a value stock when in fact the…
1. Your first lost is your best lost.
2. Evaluate every strategy not just on a benefit of being right basis, but more importantly on the cost of being wrong basis. Sometimes its not always how much you can make, its how much you don't lose.
3.…
My question is if all mutual funds were to convert to ETF format would that increase or decrease market volatility? Marked to market intraday vs end of day? The distinction being is this upcoming transition going to include actively managed mutual…
A dog with fleas stock.
Fat cat banker.
That stock is a beast.
Pigs get slaughtered.
They have lion's share of the market.
The Wolf of Wall St.
Pony up and hit the ask.
Animal spirits.
Gordon Gekko (Gecko) and Bud Fox.
I think we have finished our work here. If you like Rivelle at TGLMX you might like him more at TSI (at the right time in the busines cycle with the right discount). Great manager. I plan to own it at some point in the future.
No, I am correct. You need to slide the right edge of the slider. Both edges can be moved, but sliding the right edge towards the left of the screen produces exact date ranges. Chances are high that any fund started in 1999 doesn't have the same ma…
What you don't understand is that you can drag the right edge of the slider to specific start and end dates. This gives you specific 'rates of change' in percentage terms. Or you can double click in the slider itself and assign a specifc number of …
msf, you might want to look deeper into PerfCharts for non standardized start and end date functionality, Histogram and right click sort features. The slider also has advantages in Histogram mode. Lightning quick comparison over any timeframes when…
You asked..."Does this have anything to do with M* Premium"?
You asked me if M* Basic was daily data. In order for me to answer the question I went to M* Interactive Charts to get detailed data. That lead me to find the inconsistencies and he…
Click Interactive Chart...click YTD in top left under Add Comparison. Shows thru 10/28.
I see +1.34% in top right green for M*. We agree on Stockcharts +1.70%
I rarely use M* when I need detailed performance data. I found Stockcharts to be more user friendly and quicker, fund comparison easier and includes any distributions in the total return and quicker left click features. Something I always wondered…
What filters within Premium Fund Screener are most useful in your opinion? why?
"Work with a tool or data source long enough and it's amazing what you learn to coax out of it." Can you give me one example? I rarely have found anything useful in…
New management has done well but earlier this year they changed the fund’s asset allocation rules. Stock allocations can now never go below 50% whereas during its period of outperformance, it was allowed to hold a lower percentage of assets in sto…
