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.
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davfor
Thanks. She is well now and back to her daily volunteering.....
Two photos taken on that voyage are all that sit on top of a bookcase in my office. Elon Musk's ambitious Mar's adventure is now beginning to capture my attention in a similar way. Perhaps I will live long enough to witness that as it happens too!…
@msf The comment @Junkster made fits my situation well. I receive social security and have a modest but dependable inflation adjusted pension. I also receive somewhat substantial investment income (3.5% of beginning principal balance gets withdr…
@davidrmoran
I was mostly pointing towards the Feds moves to normalize its interest rate policy. There was a large amount of low interest rate corporate debt used in recent years to finance buybacks and to help keep marginal companies afloat. Th…
@Ted That's good to hear. I paid big bucks for specialized prescription computer glasses to make my time in front of a monitor more enjoyable....
@Anna I posted the headline mostly because its of historic interest. Its hard for me to understand …
@Ted I just looked again and still don't see this headline...and I just got a new pair of computer glasses! Merry Christmas to you too from rain soaked Western Oregon...
An informal conclusion with a little humor thrown in....
All of the above leaves me viewing the U.S. market increasingly as the hapless Wile E. Coyote in the ever amusing Roadrunner cartoons, running in thin air only to eventually look down, realise…
The discount arrived more quickly than I expected:
As of Fri 12/21/2018 5:59 PM EST -- Last Actual Disc/Prem -0.77 %
PDI will get included in my thinking as I complete my year-end portfolio update.....
@expatsp Thanks for posting about this …
@hank Thanks for providing that opposing view. And, from a source we can all trust no less!
@davidmoran I prefer to harvest my losses. I was never one for chasing after wild critters!
Thanks for sharing your perspective. I second your comment about Mattis. His resignation letter says a lot.....Hopefully he will speak out after his resignation becomes effective.
@expatsp recently commented thatM* says the market is 10% underva…
My simple minded way of looking at PDI is to consider buying it only if it is currently trading at a discount. PDI was in that camp as recently as the early part of 2016....I suspect it will be there again, maybe fairly soon.
@expatsp Yes. I recall scratching my head and being somewhat disappointed in M* about that history rewrite after the market rebounded from the 2007 - 2008 selloff. Its just interesting to note what they are saying now. (Its my understanding M* m…
@Mark Its interesting M* is now listing the holdings of DSENX as small cap though they still categorize it as Large Value. I wonder what if anything has really changed with their investments to warrant that change? Per their 10/31/18 Fact Sheet, …
@BenWP Thanks for the heads up. I currently own both funds in a taxable account. This distribution will help me transition to my projected 2019 allocation which includes a little more AKREX (and FBSOX) and a little less DSENX in my US Stock Pot.
For anyone like me who does not have a WSJ subscription, here is a link to a review of the WSJ article. Its encouraging to see Bogle expressing his concerns....
www2.philly.com/philly/business/john-bogle-vanguard-wsj-index-funds-blackrock-state-st…
The WSJ link did not work for me. This link includes at least a partial (full?) copy of the article....
All told, 90% of the 70 asset classes tracked by Deutsche Bank are posting negative total returns in dollar terms for the year through mid-Novem…
@VintageFreak
Your comment made me curious. So, I put my "google machine" to work. Here is a post that evaluates the 7-year GMO forecast from 12/31/2010. It appears the results shown in the post are probably accurate. Those results indicate GMO…
@VintageFreak
This post from last December includes a list of EM mutual funds with a value tilt...
https://www.mutualfundobserver.com/discuss/discussion/37398/investing-in-a-world-of-overpriced-assets-with-a-single-reasonably-priced-asset-jeremy-g…
@AndyJ Thanks for your observation. It has been my suspicion that the near zero rate easy money era could eventually produce a nasty outcome by putting important parts of the market's creative destruction process into hibernation. It makes sense …
The simple minded rule I follow is to withdraw 3.5% of the year-end balances from my investment accounts -- in quarterly increments -- during the following year. Fourteen years into retirement that procedure is working just fine. This procedure al…
@bee ... Sounds like it to me. The article includes a reference to the floating rate segment of this market which forms a significant component of the IOFIX portfolio...
alphacentricfunds.com/funds/IncomeOpp/presentation.pdf
Worthwhile reading with several interesting charts. The "Everything Bubble" description seems appropriate. The author argues it is likely the current U.S. corporate debt bubble will burst due to tightening monetary conditions thereby causing a sto…
Its interesting to contrast this view of the stock market with the one noted in @bee 's 7/31 post regarding earnings driven valuations (see The Tell: (Caution!) Morgan Stanley warns prepare for the biggest stock market selloff in months!!!) from whi…
Just a quick anecdotal observation. My "old laptop" sits in the kitchen nook and gets used to do my morning reading while I sip on coffee and enjoy the sunrise. It was born with Windows 7 and got updated to Windows 10 along the way. It has been s…
Here is the Motley Fool take on the step-up question. It corresponds with my understanding:
For inherited mutual fund shares in regular taxable accounts, the tax basis gets stepped up to whatever their value was on the date of death. That's true f…
@willmatt72 Yes. That part of the reason was tied into my rising interest rate scenario thinking. Also, increasing my investment in a successful asset management fund made sense given the increasingly richly valued status of the stock market.
@willmatt72 My position in SPHD got closed out in early January due to concerns about whether it would struggle in a rising interest rate environment. The $'s freed up got invested in BTBFX. So far the decision is making sense. But, 2 months is …
@AndyJ T. Kong's comment corresponds to my sense that MCRDX is intended to be primarily a high yield bond fund. Your comment about MAINX prompted me to take another look at both prospectuses. (I had an investment in MAINX before investing in MCRDX…
@catch22
As usual, your stockcharts chart does not come through on my computer. But, I also looked at 1 year in M* so I got the picture.
@Ted
My definition of high yield is
@Ted My point was that the big headline number has had limited real world impact. For example, JNK has only been down about 2% at its low so far this year....
Looking at the post by @Ted had me taking a look at my 2 high yield funds, ARTFX and MCRDX. They are both in the plus column for the year as of this morning. It seems to me the impact has only been a hiccup....
You might take a look a SPFPX if you decide to consider a bank loan fund. It has enjoyed fairly consistent performance since inception. I have some $'s in this fund. Of course future returns may prove my continued investment in this fund to be ill…
I am a young "oldster" who is content with 8% of my total portfolio in EM. (EM holdings total about 35% of my international stocks.) You might take a look at MEASX if you are comfortable with owning funds that don't closely track indexes. Its clo…
If I get what you are saying....this is the problem that sometimes arises when the bond market starts worrying about inflation...p/e ratios decide to contract and treasuries decide not act as a complete safe haven...hopefully these worries will not …
