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Back to the future: "On August 28, 2018, Monetta Young Investor Fund changed its name to Monetta Core Growth Fund." Two-star rating which might say more about the state of the market and investor psychology than about the fund's discipline: 15 house…
Sorry for the delayed note. Tuesdays and Thursdays are my heavy teaching days; unlike many places, we continue to teach in-person though that occasionally requires turning some very odd spaces into classrooms. I'm mostly wedged in the far enough of…
Hi, guys.
I wanted to follow up with the GP folks before sharing anything. Exchanged notes with their president yesterday, and we've just sent this note to the folks on MFO's mailing list. I wanted to share if with you against the prospect that any…
Yeah ... I saw the registration notice and thought, "life's too short for this nonsense," and so didn't include it in the January funds in registration feature.
Hmm ... interesting question. You're right that Accipiter did the programming. I have some vague recollection of a problem linking the Navigator to a database, but I'll have to ask Chip tonight. I'm not sure she can fix it (her specialty is more IT …
Howdy.
Here's a guess, but it's only a guess. The far greater tide will be non-transparent active ETFs that are clones of still-open mutual funds. That seems to be the path that giants like Fidelity and T. Rowe Price are taking. They're under no pr…
Had a long talk with Ms. Geritz last week. Wonderfully grounded person. Ms. So will join her on the four-star New World fund, which is primarily emerging markets. She made two arguments about the hire: (1) she's brilliant, why on earth wouldn't I as…
Hi, Lewis. I think the market cap floor was part of the original partnership agreement between Grandeur Peak and Rondure Global.
Greetings, Shadow. Ms. So managed Matthews Asia Small Companies for 11 years. Her last above-average year was 2014 and …
As Derf notes, Matthews Emerging Markets (MEGMX) is just six months old. It has seen consistent inflows and is sort of clubbing the competition: up 32% since inception versus 20% for its peers in the same period.
Matthews Emerging Asia (MEASX), on …
If shareholders approve the agreement, FPA distributes the funds and their expense ratios drop by 0.14 - 0.30%. Day to day management doesn't change and, so far as I can tell from talking to both sides, there's no plan to make any changes that would…
Nuts. Lost my (draft) note to VF. (sigh) I'll try again.
Hi!
Mr. O. didn't run POGSX 20 years ago. When he came onboard, he began moderating its aggressiveness and ended up outperforming the S&P 500 pretty substantially. ($10K grew to about $3…
So far as I can tell, very few people on any side of any of the recent posts were happy with how things were going in OT, but no one - except those who have left - seemed quite able to break the cycle of reciprocated diatribe.
I can okay hope that…
By way of context, I reached out to Skeet earlier this week and expressed two administrative opinions. (1) Diverse opinions, including those supportive of Mr. Trump, his policies and his re-election campaign, are welcome in the O.T. board. (2) Zero …
Hi, bee.
That would be more possible if Accipiter were still around, since he did all of the programming for the discussion board. Chip and I have discussed options like making off-topic an opt-in board; that is, if your default view was "all discu…
Hi, guys.
Sorry about the delayed response. I was trying to learn a bit more. As far as I can tell, we're sort of at a confluence of three sets of changes that were mostly unrelated but overlapped in time. I'm still working on getting details that …
Door County, the peninsula above Wisconsin. Sort of like "Cape Cod without the pretension."
Rent a cottage in the woods. Start the day at LeRoy's Waterfront Coffee Shop for strong coffee and fresh pastry. Hike Peninsula State Park. Sit on the dock…
@Old_Skeet: bought my place five years ago and thought long and hard about a generator, in particular one that tamped into the natural gas line. And then I kept thinking, "I lived around the Quad Cities for 32 years and have had one outage that last…
@Shostakovich: yep. Around the time, I suppose, that Sequoia was *the* domestic fund to hold...
Morningstar's enthusiasm for the fund remains undimmed but their case is dependent on two arguments. First, Dodge and Cox is Dodge and Cox. Second, if y…
It will be fascinating.
In some ways it occurs to me that Senator Harris represented Mr Biden's safest pick in the sense that, I suspect, most of her "skeletons" are not in the closet, they are well documented in the public record. That's not a cri…
I was interviewed by the folks at Fund Intelligence on the day that the D&C prospectus was filed. Three guesses that I shared with them:
D&C are not under any real asset pressure. Firm AUM is holding up nicely. Even if they were looking for…
"Nothing follows"? Jeez, that seems a bit cruel ... or perhaps despairing in a Yeats sort of way: "Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world" sort of way.
T. Rowe Price Multi-Strategy Total Return keeps tickin…
In Chip's case, given her devotion to the series Outlander and to the heritage of Scotland, I'm thinking she's rather more imagining the pointy claymore than the bang-y one.
David
Hmmm ...
The Book of General Ignorance, volumes 1, 2 and 3. One and Two are in hardcover, I'm cheating by reading Three (out of order) on Kindle.
The Invisible Library series of novels. I've just finished five. Dragons, fae and interdimensional b…
I hope you like it.
The more sophisticated among you (you possibly the folks who just have a ton of time on their hands) might find the KL Allocation site interesting. Their blog shares a lot of inter-asset analyses ("the spread between A and B imp…
Ummm ... I did sort of write about this in our April issue. Taking the Polar Plunge.
The shortest version: FPA was having trouble marketing it, Polar promised to be able to market it globally and share the profits with FPA.
The Dividend Builder ETF prospectus, as yet incomplete.
My understanding is that the conversion was pursued in order to level the playing field by eliminating structural costs. The managers win if and only if the new wrapper carries dramatically lo…
Hi, guys.
Yes, I agree. This is, or should be, big news.
To Lewis: this is the first. The conversion has been in the works, with the active engagement of the SEC, for nearly a year.
If this model works out, it makes it possible for virtually an…
I have the sense that very few people actually pay front-loads anymore, so I was imagining "A" is the equivalent of retail, no-load. And if you adjusted PIMCO for loads, you'd need to adjust the peer group. And, depending on the data provider, you'd…
Here's a rough approximation of an answer, responding to Lewis's concern about the skew created by institutional shares. I searched the MFO database for all PIMCO funds with a five-year record and an investment minimum of $10k or less. Basically, t…
"The Momentum work remains negative despite a blue-chip rally, which briefly exceeded 30% last week." I don't think that accounts for the selective gains this week.
I wonder if he is a specialist at it? I learned some while ago that there is a sub-specialty within investment management, people who wind down funds. Who knew? Quite possibly, just a nice guy left holding the bag.
