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.
@Old_Skeet I think Edward Jones plan for addressing asset bloat with it's Bridge Builder Funds is just to add subadvisors....For the small/mid value they currently have Vaughan Nelson, Robecco, Blackrock, LSV...among others. Their funds are really j…
Just posted best and worst unconstrained funds before I read this. Bill is currently approx 50% emerging bonds (primarily mexico and brazil). Also remember that this should not be considered a bond fund. It's really a derivative laden long/short fun…
Just so everyone knows. His very popular chart about never 7 years of positive returns is not correct.
8 years 1982-1989 and 9 years 1991-1999. Just trying to kill the myth .
All American Funds and the Primecap are all team managed. I was only looking to see direct results for the large funds regardless of reasoning, to see how they maintained including any succession planning required.
cman said
Rather than take positions on bonds and equities like baseball fans choosing their teams and dissing the others, being diversified and staying so through these cycles is the best bet regardless of sentiment.
Don't get me wrong, I'm not sit…
@Crash ya looks like they are shorting the June 2014 10yr Treasury Bond Future. CBT just means that it's traded on the Chicago Board of Trade. Although the way they list it on their website is a little misleading because 30 futures really represent …
As someone mentioned, as this appears to be a wrap account (since he is getting paid 1% of AUM) those loads are most certainly waived. However, I would question why this advisor cannot get access to the cheaper share classes on his platform. He shou…
Yes, I find it ridiculous that morningstar will write all sorts of articles about active share but not provide the data, even to paying subscribers...except to their highest product (M* Direct). Unfortunately, I only have access to M* Workstation.
Reply to @bee: The fund has definitely done better, but should also be aware that this is Small Cap Emerging markets and it is being compared to regular (larger cap) emerging markets. Just listened to Ben Inker from GMO on a conference call today an…
Reply to @Charles: As some others have eluded to it likely is not at all sinister intentions. I know that there are very specific things that FINRA/SEC do not allow (or require costly extra filings) to disclose to non-registered individuals. I too t…
Lol, Ah I just read that. Yes, neither has done too well YTD but the levered version has done much worse (-1.3% vs -5.1%). Important lesson to people that leverage can indeed increase risk even if it's intent is to be somewhat defensive, with levera…
Reply to @hank: No trepidation needed, everyone makes their own investment decisions! I understand about the discussion and I already discussed on this board a little too when I made the post and stand by same points. It's the managers process I am …
Reply to @Hogan: Cynicism isn't a bad thing. After all I'm just some guy on the internet for all your purposes. It's just an observation and take it for what it's worth (which maybe is more to me then it is to you).
Reply to @Hiyield007: It certainly would, But I don't think it would do any good to use a traditional PE ratio as it is not cyclically adjusted in any way...the traditional PE ratio is actually gonna be the highest at the bottom because earnings are…
Reply to @Investor: False negatives and False positives? Be aware that this in not any sort of short-term timing indicator...this is more so just something to be "aware" of.
Charles, right, while earnings have increased...they have not increased nearly enough to justify the move IMO...which is why it's taking more PE expansion to get the same gain.
And yes, theoretically in an ideal Bull market there is no upper limit…
Reply to @steppinrazor:
GMO actually lists that in their FAQ and the answer is: "GMO defines quality companies as those with high and stable profitablility, and low debt. Please refer to the white paper entitled "The Case for Quality - the Danger…
Reply to @scott & @clacy
But I guess the question is how is that different from what the Fed will (and is) doing now here in the US? How come Japan has some magical ability to keep rates low but we wouldn't have the same ability? And Japanese c…
While everyone loves to hate treasuries the one thing that people should think about is why would investors dramatically sell off 10 Treasury bonds at 2.01% before they sold off 10 year JGBs at 0.64%?? Why does Japan get money at 1/3 the rate when i…
Just wanted to bump this conversation because now we can have a one year look back of these ratings.....you can see the complete post here "Performance of Morningstar's New Analyst Ratings For Mutual Funds in 2012".
But here is the gist of it
The…
I find it interesting that investors seem to think Romney will be good for the stock market but Obama bad. I don't really understand this strongly held belief despite the fact that history would point the other direction. History only shows that Bon…
Definitely like Hasenstab but you have to realize he will be more volatile. Also, while always mentioned for the Global Bond fund I prefer the Global Total Return as he has more flexibility to invest in corporates.
The Wall Street Ranter
Reply to @fundalarm: I think JPM Income Builder is a much different beast then the Pimco or Thornburg funds....Pimco and Thornburg are really equity funds with the ability to utilize bonds opportunistically......JPM Income Builder relies much more h…
If I were to buy a Pimco equity fund I would probably go with PIMCO Dividend and Income Builder PQIIX. Looks new but the manager is really the manager from Thornburg Investment Income Builder TIBIX. Neel Kashkari who is in charge of setting up Pimco…
I'm not sure when I was comparing managed funds to a peer group but index funds to the index? All funds should be judged to a relevant benchmark (index).....and yes, as my post talks about--a majority of managed funds underperform their relevant ben…
Reply to @AndyJ: It is in fact buying and selling these different stocks. I can see pluses and minuses there. Yes more reportable transactions, but also the capability of being even more tax efficient than an index fund "for an additional fee you’ll…
Not a large value fund but I'd consider FPA Crescent managed by Steven Romick....definitely invested with the real principals of value investing at the base of it.
The Wall Street Ranter
As I said in another post...I stay FAR away from any strategy that smells of "risk parity". Basically mix in some stocks and a touch of commodities and add a heaping scoop of leveraged bonds.....and make sure to mix in a bunch of derivatives such as…
I stay far, far away from "risk parity" portfolios or as some fund companies like to call them "balanced risk" portfolios. Backtesting of the portfolios is an artifact of 30yrs of declining interest rates. And the title of the article? More money, l…
Reply to @scott: No doubt there will be companies in any environment that will turn out to be quite profitable -- whether they be new companies with new technologies or old companies making new in-roads. However, picking only the successful ones whi…
