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BaluBalu
Professional Experience:
Corporate Finance (Corporate Venture Fund investments, International and Treasury finance, Public Debt issuances, M&A, Joint Ventures, Planning, Business Divestures, SEC filings);
Policy and Legislative & Regulatory Affairs - Washington DC;
Capital Markets - London and NYC;
Commercial Bank Lending;
Field Biology.
I personally do not put much weight on more than the past 3 years of a manager's performance, except when I want to include unusual periods like Covid. I am not the same person I was three years ago and I would assume the same for a manager and his…
Good article.
Good to see insurance premiums is getting a lot of attention. Hopefully, we as a country will find soon a solution to this chaos.
On a different thread we discussed how insurance companies charge higher home insurance premiums if …
I have not delved into the links @baseball_fan provided. I would cut him or anyone slack if they did not use words precisely to match facts about investments, as long as their posts are in the right spirit. He did disclose that he exited the fund,…
Thanks, @Roy. That is a pretty standard policy for any credible single fund company, including many hedge fund companies. That does not tell me whether the principals are not allowed to invest in any index funds like SPY or QQQ or bond funds or wh…
@WABAC,
I too own XMHQ in both taxable and IRA. Its strange chart from beginning of April tells me there are some idiosyncrasies about this fund I do not understand. (E.g., As a quality fund (with 26 D/C ratio), I did not expect this fund to rea…
@Stillers,
I share the sentiment. Why bother with the drama that comes with small or even mid caps. If you are itching to dip into the cap table, DSTL is not a bad one to consider but it is not as active as you may want.
AUERX has only $60M AUM…
@BaluBalu Thanks , is she the only owner ?
Is that a requirement?!
She likely has her own wikipedia page if you can not get enough from what Catch shared.
A quick update -
June Fund Facts and commentary are out.
https://marshfieldfunds.com/fund-facts/
https://marshfieldfunds.com/commentary/
25% cash
"While the cash we now hold . . . clips our wings a bit in terms of our ability to keep pace with t…
@stillers,
Interesting fund - AUERX. 16 years and only $61M AUM. The fund has done well over the past five years, though it had a forgettable performance before that.
I am tempted to take a flyer on this with a 2.07% ER by selling another fund w…
@Old_Joe,
I do not need any stats to know if Schwab is milking their customers more than their competitors. Personal experience is more than sufficient. Milking can be in the form of money and / or other frictions, and their brokerage sweep featu…
CGUS team went from 6 managers to 3 managers and then they added 1 more manager to bring the team to 4 managers. All four are veterans. At least 1 of them has $1m investment in the fund.
Why was the team reduced?
I own the fund but did not pay…
HELO is a laddered ETF. JHQAX may be viewed as one of the three components of HELO but not exactly in that HELO is not a Fund of funds. JPM website has detailed info on both and is instructive to read there than anyone here can / should explain.
Yesterday’s rotation seem to be turning into a broadening today, which is good.
Yesterday was a six sigma day and violent resets, like earthquakes, are unsettling. How did the guy who came up with efficient market hypothesis did not get roasted to…
I am guessing all or most of that revenue from uninvested cash goes straight to the bottom line.
If there is no such thing as uninvested cash at Fidelity and Schwab relies on uninvested cash for 50% of revenue, Schwab must suck at almost everythi…
That felt like a bear market rally of those that were in the dumpster.
IWM up 3+% and SPY more than -0.5% last happened in Oct of 2008 - Bob Pasani, CNBC.
Glad to see Utilities and other touted as AI adjacent / enabled are decoupled lately inc…
These days, after clicking on a M* Fund Analysis, I only read the segments that are written by humans (you will see a human's name next to it) and skip the rest of it, which tends to be more misleading than useful.
Good post @stillers.
Tomorrow is bank earnings release start. Jamie Dimon is always the most listened to CEO and nobody expect him to paint a rosy picture.
If @Derf is OK, let us use this thread to post market sentiment and guesses during this …
@msf, all those and more limitations of Schwab are real and I had alluded to them in various posts. Great listing in your post - I am going to save it for future reference lest I forget as I have a short memory for pain. Some of these limitations …
+1 @Devo.
I would add that if you are a bottom up only investor / fund, focus can hurt biggly. High conviction with no flexibility can be dangerous. Having an eye on macro / momentum, in addition to focused, bottom up approach, allows one to navi…
@WABAC,
I did not know about BDAFX. Re its financial allocation, I see Visa, Moody's, SPG, MA, etc. in the top 10. I learned growth is a very broad term and as you implied, one must know where one wants to source or is sourcing growth from. E.g.…
"It's down to FDSVX or PRWAX. Tip of the cap to @stillers for drawing my attention to funds I had missed."
If you need further encouragement, I own both. Make sure to check they serve the intended purpose in your portfolio.
Regarding ER, I woul…
"BTW, originators of securitized debt (MBS, ABS, CLO) are now required to keep some on their books and there are also stricter clawback provisions for bad/defective debt found in the pool. These reforms came after the GFC."
Thanks. I did not know …
This looks like the variation of the housing disaster we had only 15 years ago. That was not too long ago and how the mechanics are already in rinse and repeat cycle. I guess greed never sleeps.
As a society, we admire / glorify people that com…
As the reference Asset moved up, the put option MAXJ bought (long) would have decreased in value and the call option they sold (short) would have increased in value. I was surprised that the cumulative effective of those had such a large impact on …
@WABAC,
Looks like you already own FDVV and FMILX and are recent additions. I think you also already own AMAGX. Why not increase those? GQEIX is also a good fund - not sure if you already own it.
Thanks, @Devo.
MAXJ remaining cap as of Friday is 8.53, down from Starting Cap of 10.64% (and closed at a premium of 0.24%).
https://www.blackrock.com/us/individual/products/337965/ishares-large-cap-max-buffer-jun-etf
Starting NAV is $25. NAV as…
05 July show seems not to be available?
Did they have a show yesterday? I do not recall Comcast giving me the recording. May be Bloomy gave some staff a long weekend.
