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.
There is a White House clarification (re gold tariffs) in the process of being issued.
So don’t do anything rash!
Don't worry at all!
The gold tariff is an incredibly thoughtful policy created by one of the smartest people on the planet.
It just nee…
No one man should have this much unchecked power.
You are absolutely correct.
Unfortunately, many so-called "patriots" just don't seem to care about democratic principles.
"This has nothing to do with the fact that he's in-bed with the crypto lobby
and the PE folks are in bed with his Treasury and Commerce secretaries, right?"
It's merely a "coincidence" my friend...
“President Trump said he would nominate Stephen Miran, the head of the White House Council of Economic Advisers, to fill a vacancy on the Federal Reserve’s Board of Governors on a short-term basis.”
“Trump tapped Miran in December to lead the CEA, …
U.S. Manufacturing Activity Contracted From March To July
“From March to July, U.S. manufacturing activity contracted,
according to the Institute for Supply Management’s monthly survey.
The Manufacturing PMI last registered at 48, below the 50 scor…
It appears that new car/truck prices may be increasing appreciably in the near future.
I posted this is another thread.
Auto Industry Takes $12 Billion Hit From Trade War
"President Trump’s tariff war has inflicted almost $12 billion of losses on …
Auto Industry Takes $12 Billion Hit From Trade War
"President Trump’s tariff war has inflicted almost $12 billion of losses on global automakers,
the biggest hit they have faced since the pandemic.
The scary reality: This may be just the beginning.…
Thanks for the notification!
"The executive order is part of a broad deregulatory push under the Trump administration,
which has rolled back restrictions on cryptocurrency investments,
closed regulatory probes into the industry and loosened banking…
Now, they were big revisions, absolutely, no question about that.
And not too many of those big revisions occur, though many did under my tenure
because I was the commissioner during COVID, totally different reasons why the revisions were big.”Exact…
@FD1000,
You are right to be concerned about an incoherent president.
Donald J. Trump seems to have experienced severe mental decline over the past several years.
The American people should demand that Mr. Trump undergo a comprehensive cognitive te…
Comment: You can add Pete Hegseth, Tulsi Gabbard, and Linda McMahon to the list of unqualified morons
in charge. Unfortunately, there is a significant number of these morons in the current administration! :-(
From Markets A.M. newsletter by Spencer Jakab.
On this day in 1979, Paul Volcker took office as chair of the Federal Reserve.
His policies broke the back of 1970s inflation but spurred two recessions.
M* has another good critique of private markets today.
And private equity deals are micro caps generally. The median market cap is less than $200 million, about $180 million. And again, micro caps as a corner of the public equity market are tiny, ti…
@msf,
Thanks for investigating!
"Why does it do that? Testfolio says that the run is limited to 1/4/16 by the inception date of MRFOX.
But the fund started on 12/28/2015, per Marshfield."
I don't know why Testfolio does this. I've experienced sim…
Thanks, yogi!
I subsequently used a website which lists weekly returns to check one of the funds.
The Max Drawdown difference was much less—4.19% vs. 13.43%.
Perhaps using weekly return data instead of daily/monthly data would be a good compromise?
President Trump ruled out selecting Scott Bessent as the Fed Chair stating:
“I love Scott, but he wants to stay where he is.”
The president said he is considering four candidates including Kevin Hassett and Kevin Warsh.
He declined to name the other…
From Heather Cox Richardson's Letters from an American:
“Trump sued the Wall Street Journal’s parent company Dow Jones and owner Rupert Murdoch for $10 billion.
But the lawsuit read as if it were written primarily to rile up Trump’s base.
The Wall …
Akre Focus performed well while Chuck Akre managed the fund.
It delivered strong returns with relatively low volatility.
After Chuck Akre retired in 2020, all experienced investment personnel left except for John Neff.
Neff was backed by two somewha…
I ran portfolio backtests to compare results between Portfolio Backtester and Portfolio Visualizer.
Portfolio Backtester (PB)
Changed end date to 07/31/2025 and changed starting value to $100K.
Note: Start date defaults to 01/04/2016 which is the f…
From Markets A.M. newsletter by Spencer Jakab.
"On this day in 1861, federal income tax was levied for the first time.
The Revenue Act of 1861 became law, assessing a tax of 3% on all personal income
in excess of $800 a year to help pay for the Civ…
“If the employers replying late happen to give different information from the first batch,
as happened this summer, big revisions are likely.
For example, Friday’s data showed that in May and June, there were about 109,000 fewer jobs
for educators a…
@AndyJ,
On March 28th of this year, the Education Department abruptly cancelled extensions
it previously granted which allowed states/schools additional time to spend COVID relief funds.
Although I can't draw a definitive conclusion, it seems plau…
I've posted the following in another thread and copied it below for your viewing pleasure.
William Beach, the prior BLS commissioner, was nominated by President Trump back in 2017.
Mr. Beach suggests that data from "state and local education units"…
William Beach, the prior BLS commissioner, was nominated by President Trump back in 2017.
Mr. Beach suggests that data from "state and local education units" may be the cause
for large revisions in May/June.
“We got some information from people, fr…
From Markets A.M. newsletter by Spencer Jakab.
On this day in 1991 George Colony, head of Forrester Research, the prestigious firm that studies
trends in the computer business, said in an interview: "Our belief is that Microsoft has peaked.
I think…
"While DJT is the originator, the GOP in Congress is really responsible,
as they have abdicated their role in government and in setting tariffs, for short term political benefits."
I agree that GOP members of Congress have abdicated their responsi…
The BLS surveys approximately 121,000 businesses and government agencies
each month for the Current Employment Statistics (CES) program.
The response rate for this program has plummeted since shortly after Covid was discovered in America.
The BLS ha…
I can access the primary M* website and view my watchlists.
However, the following message is displayed at the top of the webpage:
"Morningstar.com is experiencing some technical difficulties and we are actively working to resolve the issues. We app…
This is about the plans for a new $200M White House ballroom.
Didn't the president have more urgent matters to contemplate rather than
transforming the White House (aka People's House) into Mar-a-Lago II?
Like ending the conflicts in Ukraine and Gaz…
I've posted the following in another thread and copied it below for your viewing pleasure.
Revisions to payroll employment data are part of the routine process.
The May and June revisions in the latest release were much larger than usual.
Although …
Revisions to payroll employment data are part of the routine process.
The May and June revisions in the latest release were much larger than usual.
Although I don't know what caused these major revisions,
it's likely that BLS process improvements ca…
The quote below is from a Warren Buffett speech to MBA students.
"If you are not a professional investor; if your goal is not to manage in such a way that you
get a significantly better return than the world, then I believe in extreme diversificati…
