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.
@Lewis
Good callout on investor psychology around upside gains with no downside pains. This is why I prefer Sortino ratio over Sharpe ratio when evaluating fund historical performance.
While manager skin does have some signal value, the challenge h…
Even moderately successful managers are making more than $500K annual. A million dollars isn't really a big deal for a manager to swing. Analysts make $300 - 400K annual.
National debt stopped mattering since Reagan. Our unique ability to live way beyond our means due to King Dollar will also erode over the coming decades with a rising China.
Several international funds have APR's comparable or better than PRWCX over different timeframes. But there does not appear to be any fund with a combination of high R, comparable Sortino and APR. Looking at the data, it does not appear that these i…
Yea I think PRWCX is just a unique animal as somebody else stated. Impossible imo to find a really high R on the intl side. Close enough is the best that can be done.
As a follow up, in order to get more candidates, I lowered the Sortino threshold to 1.5 and picked the 10 highest rated funds(excluded country specific funds).
Out of this crop popped out Grandeur Peak International Stalwarts Inst and Fidelity Seri…
@david - tks
Here is the two part exercise I did
(1)Screened for international funds older than 5 years, Sortino > 2 and APR > 10. PRWCX Sortino and APR for past 5 years are 2.33 and 15.2 respectively
(2)Run a correlation matrix on the resul…
@David
Can you directly set a search parameter for correlation with a named ticker OR
are you looking at the result set of a search for a high correlation?
I haven't yet found an intl equivalent of PRWCX. For international, I am currently invested in GISYX, APFDX and MFAIX but all 3 have taken major fire recently.
**EDIT**
I edited my compare post and added JABAX to all periods. JABAX performance during GFC stands out.
@yogi
During Period 5, ANNPX co-relation with PRWCX is 0.91 and 0.89 with IWM.
@derf
The different entries are due to the inception dates of the funds and the fact that I did not capture all perf data for all funds for all periods. If this forum allowed screenshots, would have been easy for me to upload all perf data for all p…
I find yogibear explanation on recent performance of ANNPX co-related to small cap reasonable.
A three month(or even 1 year) stretch of underperformance does not bother me within the context of solid longer term performance.
Regards benchmarks, wh…
#5 covers quite a bit of the period that Giroux has been running PRWCX so while still lower than PRWCX still a strong performance.
This fund is definitely on my buy list now, just need to figure out an appropriate entry point.
Using a few pre-defined periods as per MFO, here are some APR stats
(1)CV19 Bear(Bear 6): 202001 - 202003
FAYZX: -10.9
FPURX: -11.3
ANNPX: -11.5
JABAX: - 11.6
PRWCX: -12.0
(2)GFC Bear(Bear 5): 200711 - 200902
JABAX: - 16.6
ANNPX: -26.0…
I agree VONE is not in the same asset class as ANNPX. I compared them based on the list of funds in David's comment. My comment was intended to show that I was evaluating ANNPX different than David.
Nobody know how convertibles will perform in the …
Understood, tks for the feedback. We are measuring and weighting differently the stats of ANNPX and the alts you called out. Typically I give zero to low weight to periods below three years. I place a high weight on Sortino, rolling period averages …
@davidmoran
What are the downsides that you see?
ANNPX 15,20,25 year stats over PRWCX are very solid. I like to use PRWCX as a benchmark against any new fund I am evaluating given the long term solid track record of PRWCX. I'm surprised that a fun…
Reviving this thread! Anybody have further thoughts on ANNPX? Virtus AllianzGI Convertible Inst
Performance of ANNPX is outstanding. Some select stats below
Age = 28 years, Mgr Tenure = 28 years
Life APR = 11.6 which beats SP500 by 0.8
Max DD = 42…
I'll note here that several smart and wise folks on this forum have stated -- some funds work great until they don't. RLSFX is a good example that has stumbled badly out of the gates in 2022. I invested in BLNDX despite my "rule" (ha) of not investi…
BIVIX has done quite well for the 4 year period starting 201801 -- APR of 20.1 and MaxDD of 14.4. I picked 4 years because BIVIX is less than 5 years old.
Screening for funds with a 4 year performance period starting 201801, APR of at least 20 and …
I can empathize. I was "hot" for PRWCX for many years. Finally I landed with an RIA who transferred 1 stock of TRAIX(instl version of PRWCX) to me! Yes I am a Giroux groupie!
I predict that this week's SP500 close will be higher than today's close and there will be articles around the theme of "rising rates due to strong economy is a good thing"
Now that I have officially made the forecast, expect the opposite to happen!
I see many screenshots in posts. I'm stumped, how is this being done? When I click on the image icon in the editor I get prompted for a URL and it does not like the path on my laptop that leads to a jpg file
@msf
The yahoo table of weekly closes is good.
I'm looking for the equivalent(with same ease of use) of the canned view I get from Barchart (I have a screenshot but can't figure out how to paste it in here) which shows a % off high but for the week…
I don't look at intra day numbers to define off high/low because intra day is way too noisy. Even daily is noisy imo and I would prefer weekly or monthly but I need to find a tool that allows me easy access to weekly and monthly peaks without whippi…
Giroux has a fantastic long term record. SP500 is about 9% off its last peak so this isn't even technically a correction yet. I track the rolling 36 month average of a fund to make hold/sell decisions, three weeks is wholly insufficient imo to make …
Biden is under political pressure to do something about inflation so the rate increases will be jammed through no matter that the market is trying to scare off the Feds. Inflation affects a lot more people that matter to the Dems vs. a correction to…
From Barchart article today. Does this make sense or is this a solution looking for a problem? Tech cos typically have very low levels of debt.
"Technology stocks are under pressure on concern the Fed will announce after the Tue/Wed FOMC meeting t…
m1finance offers 1% too but unlike TMo does require purchase of a subscription I believe so TMo is better. However m1finance offers a brokerage account which comes with many handy single click or automated portfolio mgmt features.
