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.
I finally read the GP letter. Lots of trees, not much forest. I could not understand how the head honcho did not address the effects of COVID-19 on the travel his analysts purportedly do in order to visit companies around the globe. He said their IT…
@Baseball_Fan: your spell checker just produced a howler: « tonsure overseas. » I’m sure Laura Geritz at Rondure does not want you to get a haircut as the result of buying her fund. OTOH, we should be aware of all possible pitfalls when we invest, e…
I am probably way behind the 8 ball, but I find it astounding that ESPN broadcasts poker games. That seems to be couch potato squared: sitting while watching others sit and stare at cards.
I believe most global or international funds are not limited to purchasing Chinese equities on the NYSE, but can purchase them in HK, Europe, or on other exchanges. Individual investors who want ADRs of Chinese listings could be shut out.
I have followed this a debate by two astute commentators. I have to wonder if too much hair-splitting is not taking place. For my money (and I have none in AOK or any other allocation fund in the accounts I manage) I would pick a fund run by compete…
I'm glad no MFOer paid attention to what I wrote about Distillate Capital ETFs because the ask prices are not being inflated by purchases of the big machers who post here. I have a couple of toes in the domestic version.
« Gib » turned out to be a sticking point in the negotiations. Seems that Spain did OK, although the Spaniards still want the rock as part of their country. Goods and services will continue to flow and passport and immigration procedures have been a…
I think @Old_Joe is onto something. Forget the F’n stock market and get into passion fruit juice futures! Today is looking very much like a day when stocks are on sale or still hung over from @davidmoran’s wassail bowl. Happy New Trading Year to all.
You are right, @davidmoran, to question a description of a strategy that includes the pointless use of jargon. If the manager sells a lot of shares for a gain, he does not "unlock" capital gains. How, for instance, can a mutual fund "approximate" a …
Very good point, @davfor, about « purity » of EM holdings. The Matthews fund appears to have only Heineken and Louis Vuitton as companies that are domiciled in developed countries. I note also that South Korea is well represented in the holdings. I …
Thanks, @davfor. I have upped my commitment to ARTYX. It's been a bit more volatile than MEGMX while outperforming it. To be sure, MEGMX is a new kid on the block and we won't know for some time how it plays out. I recently added XBUY for exposure t…
@Mav123: I also looked at that jibberish of a sentence and wondered if the English language has a future. String as many nouns (5 here) together as you can find and blast them out into cyberspace in hopes that no one will notice that you are being d…
Your comment, @davidmoran, reminds me of the Herzfeld CEF, CUBA. It’s original concept was to reap the rewards of Cuba opening up to capitalism. One of the big holdings was St. Joe. Somehow the concept proved a cropper.
Thanks, @TheShadow. I certainly could not figure out what happened from reading the legalese. It cannot be repeated often enough, « Only The Shadow knows. »
« 1929 will never repeat... »
When my parents died and their house needed selling, my sibs and I found a pile of stock certificates representing shares in companies that had ceased to exist as result of the Great Crash. It was both fascinating and s…
@LewisBraham makes a good point about KGIRX. David Iben, the manager, had a successful run working for other firms, including ex-Fidelity manager J. Vinik's, before he set up Kopernik, his own shop. I guess all gold bugs have their day in the sun, t…
@fred495: I agree with you regarding CTFAX. Another factor to consider regarding that fund is that it is a fund-of-funds, and all the funds it owns are Columbia. TRP does the same thing with some of its allocation funds, so I guess the charge of inc…
@newgirl: in your list of possible international/global funds, you have several MS offerings managed by Kristian Heugh. I am very high on him and own MGGPX. For EM, I like ARTYX. I have previously opined here that global funds do the job of giving m…
I think @MikeW has it right. AKREX has 20 holdings at present and a enviable record, despite M*'s four-star rating. I cannot think of a concentrated value fund where I'd put my money with anywhere near the same degree of confidence as I have in the …
I think @MikeW has it right. AKREX has 20 holdings at present and a enviable record, despite M*'s four-star rating. I cannot think of a concentrated value fund where I'd put my money with anywhere near the same degree of confidence as I have in the …
You are right, @JD_co. The percentage is not really elevated compared to an actively managed equity fund. I have two SCG funds that should be on CapitalGainsValet’s worst offenders list.
Unrelated to TMSRX, but distributions stories: top-rated MCG …
TMSRX has distributed its holiday fare to shareholders this week. It threw off a big dollop of short term capital gains and a generous slice of income. The secret sauce ain’t cheap if held in a taxable account. Nevertheless, there is much for which …
I may be wrong, but I think my local school district added A for the Arts to the acronym. I read something about a new elementary program here that was to emphasize STEM while not forgetting that music, art, and drama have their places at the table.
I had forgotten that holding in RPGAX, another fund I found thanks to discussions here. I have some in my Roth. As a Liberal Arts guy, as opposed to a STEAM guy, what hedge funds are doing seems beyond my understanding. However, the fact that TRP is…
@MikeW: I was going to try to learn something about this Causeway fund but M* is thwarting my efforts to look at the fund holdings. This value firm has been a M* darling for a long time, although it’s hard to understand what the (fatal?) attraction …
I’m just as poor as you, @Derf. But a friend of mine made so much in Bitcoin in the last couple of years that he was able to buy his daughter a house. I’m not tempted.
I got hung up again today. By signing out of M* premium I was able to see the fund’s holdings, but all the other info available to subscribers only was invisible. I feel like calling and making a true PITA out of myself. On second thought, I don’t n…
I agree, @hank, on the problem of keeping five managers or teams happy to mind their own knitting. In any event, I was floundering around trying to place a large chunk of cash I had and would never have found TMSRX without the help of Professor Snow…
@hank: I do admire your ability to analyze bond funds and their holdings, a skill that’s way over my head. I can trade, but I’ve never sold a position short, nor does Schwab authorize me to muck around with options. What they’re doing with TMSRX and…
Thanks for these tips, all. Just this AM I was stymied in M* trying to compare holdings for a couple of funds. I still pay the piper, but probably won't renew. Same with my WSJ subscription I've had for eons. Too expensive and too little separation …
Interesting stuff, @hank. I am a firm believer in this fund. BTW, since you're retired, don't you have the time and the technology to DIY and save on the management fees? Sounds like a piece of cake!
My worst offender this year is BCSIX despite M* saying its turnover is only 17%. My other two Brown Capital funds are really light on the distributions, however.
@derf: thanks for your ideas. In my Roth, which I manage, I recently added CSB, a SCV etf. If truth be known, I’m looking for a pop in the price and not really a long/term commitment to the asset class.
There are many wise and thoughtful contributions from several of the varsity team here on MFO. When I held one of the Fidelity Asset Manager funds way back when, then OAKBX, and then BRUFX, I believed (probably naïvely) that what I had were "all-we…
I think @davidmoran is correct about biases at M*. Oakmark is a « homey » with both firms growing up in Chicago. M* still has a value bias that seems to affect their overrating of funds hewing to traditional value criteria. What other factor beside …
