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.
No need to worry about the November election. The White House has claimed the President is not a "citizen," and therefore does not have to quarantine in New Jersey. Only a citizen may run for president.
While it may have been madness to allow the event to take place, quite a number of our species seem to enjoy the spectacle of madness. We are horrified, but we still watch.
There may be other examples, but I do know of the biotech CEF, HQL, managed by Daniel Olmsted, that holds as much as 20% in private placements. These companies are hard to value, but if only one goes public, the payoff can be substantial. I have not…
The four biggest (by capitalization) stocks of private equity firms are Blackstone (BX) $69B, KKR (KKR) $25B, IAC (IAC) $23B, and the Carlyle Group (CG) $10B. Owning one of these stocks is different from holding a company's stock or a MF or ETF. You…
Take a look at the "Parent" function for a Causeway fund to see how the family stacks up. Value ain't just dead, it has stopped twitching. All of the Causeway funds have negative 3-year returns, although the one being liquidated was by far the worst…
It has done well for me, too. ARTYX has out performed it, however, rising 26% since I bought it on April 23. It's been some time since EM has been helping my portfolio.
Thanks for posting that interview, @davidmoran. For some reason, Sgt. Joe Friday’s, « the facts, ma’m, nothing but the facts, » popped into my head. I lament the lack of solid research and digging out the facts that characterize much of what passes …
I think it is laudable to honor the flag. However, the practice of making saluting the flag and the playing of the national anthem before sporting events makes no sense. I can understand playing national anthems before international sporting events,…
Today’s WSJ has an article on page 1 entitled « Investors Bet on Volatility, Making Markets Even Wilder. » It’s behind a paywall, but subscribers can access. The upshot is that that « Volatility trading has grown so big that trading on unexpected ma…
Thanks for starting this lively topic @hank. I am really pleased to hear of others’ tastes and to get ideas for my own reading. As the parent of five kids, the youngest of whom is 22, I lament how little they seem to read, despite our practically fo…
@MikeW and I think alike. The main difference between the two MS funds he cited is that MIOPX currently has 35% in emerging Asia while the other fund has about 20% in EM. TDA has the Asia fund, MSAUX, but with a load.
Over the past decade, investo…
Recent titles included "The Trial" of Kafka and "The Big Short" by Michael Lewis. Both afforded laughter and a sense that many things in our lives are completely out of our control. My recreational reading runs to crime fiction and espionage, freque…
Laura Geritz has added a PM on ROSOX, but she continues as the sole manager of her EM fund, RNWOX. The new guy appears to have a research and foreign affairs background, quasi-academic. I looked at both funds and I was struck by the over allocation…
@hank: There is talk of infrastructure spending and it's been going on since the 2016 presidential campaign, thus my skepticism. In my view, the US is unwilling to invest in infrastructure projects that don't pay for themselves. The wonderful high-s…
Maybe you found Esper to be admirable, @sven. If he were that, why in heaven’s name would he go to work in the most disfunctional administration in modern history?
I was thinking about Romney as I wrote that, @msf. A few years after this IRA was news, another wealthy candidate complained that the system was rigged, although he probably didn’t know at the time that the Electoral College was the fix. I have lowl…
@hank: It’s likely that the rich don’t even worry about RMDs because their wealth is not tied up in tax-deferred accounts. I agree with @catch22 that doing the paperwork is not worth my time. I’ve been obliged to take distributions for about 8 years…
I agree, @bee, with your linking the Erin Bromage paper. It’s the most sensible thing I’ve read in weeks. I’m going to try to reduce my wife’s fear of supermarket shopping. She hates the mask, but the chances of catching the virus at unpopular shopp…
Thanks for that link, @msf. The problem faced by IOFIX is not disssimilar to the complete collapse of the financial system in 2007-2008. Michael Lewis’s « The Big Short » explains in painful detail how CDOs and other exotic instruments were a bet on…
For some reason, a hold I had on my Libby e-reader account came though this week and I am now reading "The Big Short" for the first time. I am quite familiar with Michael Lewis, however. One of the best take-aways so far is the idea that, as opposed…
@davidmoran: a slightly better performing growth ETF is Vanguard’s VONG, which tracks the Russell 1000 growth index. Should growth continue to outpace value, that would be the place to put some dough. « Where has all the value gone, gone to graveyar…
@davidmoran: I understand that a fund such as VOOG could outperform, especially in a growth atmosphere as @expatsp pointed out. MOAT is not an index fund. It’s stocks are chosen according to a methodology, which includes the determination of the moa…
PRIJX got some attention here a few of years back, when it was known as EM Value. It did great things in 2016-17 and then it didn't. TR for last three years is -3.67% and YTD -27.9%. Ouch!
I like that idea @Anna. If it were not for reading this article, I would still be squeezing the liquid out of our one container of Lysol wipes. I was planning to keep it for the day when my wife or I gets the virus.
I'm not out much these days, but I did buy gas for $1.19 in AA. Other stations are charging more, up to $1.89 at the places whose prices are usually very high.
RNCIX is available with transaction fee and an ER of 2.72% at Schwab. The fund has not attracted much interest even though the idea sounds good. It didn’t do squat for me when I owned it soon after it opened. CEFs are wonky and a fund of CEFs is won…
@VintageFreak: I decided to take my GPGCX and put it into GUSYX. I'll take the tax loss. I continue to move away from international in favor of global funds such as MGGPX, BGAFX, ARTRX, APFDX. Sold BCSVX to buy ARTJX, just about my only pure foreign…
Thanks, @Lewis, for posting that. I'm no long a shareholder, so I don't get it directly. They make a compelling case for investing in the fund now. It does not appear from their narrative that they were forced into selling positions; in fact they di…
Thanks for this, David. I must admit that Jefferson tripped me up with the term "votaries," sending me to an online dictionary. A "votary" is one who takes vows or who is an adherent of someone or something (in the event readers are curious). Readin…
I believe @sma3 is referring to "flash crashes," the more recent ones occurring in 2010 and 2013, IIRC. Stocks fell so fast, but recovered very quickly, with the result that positions were sold automatically, adding to the market fall and leaving th…
