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.
@msf makes valid points regarding GP’s exposure to certain favorite stocks and the difference between BCISX and GP funds. BCSIX now holds $8B+ spread among 41 positions, holds no international stocks, and is a different animal from any GP fund. Prob…
Not to quarrel with accepted wisdom, nevertheless I wonder if GP could show shareholders what advantage it has been to them to close only to re-open several of the funds. When I look at GPIOX and GPGOX, the ones I used to own, I see AUM south of $1B…
Thanks for digging all that out, @msf. For some reason reading that arcane stuff is amusing. It makes me wonder what sort of people work at a fund like that and whether they ever come out from behind their bank of monitors to glimpse the sunlight. I…
Thanks for doing that, @Old_Joe. I’ve been scouring my Gmail for his info, but could not find it. If you hear from him, please PM me his email. Be safe! My wife and I are 50% vaccinated.
@MikeW: when I was teaching I had a friend in Finance and we used to yack it up about equity CEFs. He actually knew something about international finance, while I was an amateur. After I retired I ran into him and I asked if he still was using CEFs;…
Your post reminds me, @Crash, of the old days when CEFs were the only game in town for single-country bets. Prodigy had a board populated by CEF nuts, one of whom published a weekly table revealing discounts and premia, as well as performance figure…
Good grief! SPCAX has a turnover ratio of 4,249% according to M*. Maybe @msf’s legion of fact checkers/researchers could compute the average holding period for a typical position given that number. IIRC, a 20% TOR results from holding a position for…
Thanks@wxman23 for adding to my investment vocabulary. I’d like to know the origin of “stink bid,” if you know it. I do place orders below the bid price, but I did not know the practice was enshrined in an expression. It takes patience and a willing…
I see the figures you’re talking about @davidmoran. What are the « Other Positions » held both long and short, what are the 38 Stocks held short and where is there an accounting of them, either in M* or the TRP disclosure of fund holdings? For a h…
@Old_Joe: keep at it! The effort will improve your mental acuity. LOL.
I got it in my head the other night that I had to sell something right at the market’s open. Well, that day, the Schwab site was completely off-line because of GameStop shenani…
Somebody has to pay the IRS if the gains are realized. Either the MF makes a massive distribution at year-end affecting the shareholders of record at that time, or the shareholder sells the fund resulting in a big short-term gain. Taxes are on my mi…
Despite hoping EM and SC might do better in the future, I have to align myself with @LewisBraham in recognizing that world markets rise and fall together these days. Much rationality has succumbed to trading schemes that I can’t understand or benefi…
MIOPX, 3 yr and 5yr, is in a dead heat with VWIGX. I don't own any Vanguard funds in my fund supermarket account, but I assume there's a transaction fee. MS funds are no-load, NTF where I shop.
This is not the first time Kiplinger has recommended DFDMX. DF Dent has some very good funds and its managers write some of the best reports available. For trivia fans, Brown Capital, Brown Advisory, Dent and TRP are all in Baltimore. If Legg Mason …
That's a great site, @catch22. I had been using CNBC, but that one is nowhere as complete as yours. No self-respecting long-term, buy-and-hold investor should be without access to futures and overseas market prices at any hour of the day. LOL
Just from watching this board I am sure that positions some of us hold via the ARK funds are seeing unusual volatility, both up and down. M* has had to review its rating on Baron Partners because Tesla has come to represent 47% of AUM in that one fu…
That’s very helpful @Baseball_Fan. When Professor Snowball profiled ARTTX in its first set of clothing he pointed out that there was no measurable management record for Mr. Smith. As you rightly say, he now has a record at Artisan and it is plausibl…
@ Baseball_Fan: I have not paid attention to ARTTX, despite owning 3 of Artisan's funds. Since its début in 2017, the fund has undergone one name change and the "group" running it has also re-named itself as "Antero Peak." I see that the fund can sh…
It is so hard to convey irony or whimsy via electronic posts. Lewis does not want your address @Baseball_Fan, but he does want you to lighten up a little. All of us need to lighten up, especially with respect to those who draw conclusions from sca…
@stillers: I appreciate what you’ve said when comparing MIGPX and MGGPX. The team at MS led by Dennis Lynch has a great record in several funds. The risk that Kristian Heugh is stretched too thin across several funds seems real to me. The only WS gr…
@msf makes good points and my take-away is that we as shareholders learn late in the game what a manager’s strategy might be (or was at a point in the past). Most MF prospecti give latitude to permit an active manager to shift back and forth between…
Good point, @MikeW: the Matthews fund, MASGX, has done really well in recent years. Over a five-year span it is tied in total return with the Calvert ESG entry, CVMAX. MASGX made up a lot of ground in the past two years. One of the nice things about…
Schwab has some other perks that I like. The debit card issued with Investor Checking (its ludicrous to call it HY) has no foreign transaction fees and ACH transfer fees (nominally $25) from the brokerage account are waived. Just paid quarterly taxe…
Thanks for starting this thread, @stillers. SCV is definitely volatile as a glance at the charts of the three ETFs I reviewed: CSB, DES, and VRB. The first two pay dividends monthly while VRB pays quarterly. I bought CSB for its compact portfolio an…
Many good suggestions already posted. Even though it’s new, I think Matthews is a good shop and that MEGMX has a good chance of riding the EM updraft. For small and micro caps EM, GPEOX is worth a look. I have never owned DRESX, Driehaus EM SCG, but…
@racqueteer: I have some « play » money in AARK. While the fund may be risky, it’s not like some other whacky ideas I’ve chased in in the past. Anyone remember the FlavrSaver tomato or SureBeam (the ones who sold a produce radiation system to prolon…
My parents carried Puritanical anti- gambling attitudes from their parents (one grandfather ran for office on the Prohibitionist ticket) into raising me and my siblings. I have a prejudice against lotteries, probably ingrained. Without pre-judging b…
If it were my kids, I would go with a Russell 3000 ETF, and I’d probably go with the lowest ER instrument. FWIIW I have one of my kid’s account in VIG, AKREX, and PTIAX. It’s a little more conservative now as she may need $ for med school.
@MikeW: I tried to get a discussion going a couple of weeks ago about Distillate Capital, the company running DSTL and DSTX. Kiplinger's put me onto checking out this manager in its listing of the best ETFs for 2021. DSTL figures in the list and it …
The article highlights the thematic ETFs that ran the table last year, including those from the Ark shop. Zweig cautions that these funds are as risky as story stocks and cites research that showed that thematic funds underperformed conventional fun…
From what I can tell, MIOPX and MFAPX have a couple of differences in their portfolios. The former has about 11% in US stocks, the latter about 4%. MIOPX has a greater allocation to developing markets, approximately 37% vs. 22%. Heugh seems to be ab…
@JonGaltill: BCSVX is not an EM fund, but it is a small-mid cap international fund that follows the Brown Capital process for selecting stocks of companies that "will make a difference." The domestic version, BCSIX, and BCSVX are heavily weighted in…
That's helpful, @Derf. One of the reasons I have moved away from GP's funds (Micro and Contrarian) is the number of companies the individual funds hold, to say nothing of the volatility. As many of the firms are very small, it seems to me that the a…
