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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Charles
Thank you sma3! We are spending this summer in northwest again. I have no quiet place I can be before noon eastern (9 am here). Library opens at 9am! I've set up a session for Friday, 2 pm eastern ... posted on board. But, if that does not work, just call me at 805 468 9599 ... if I can pick up I will. Hopefully, can pick a day where you can attended from noon on. Very happy to do! c
@carew388. You're in good company.
@NormPeterson. I found the sub-adviser for IOFIX, the folks at Garrison Point, to be of high character. I was never crazy about the AlphaCentric adviser, but the GP folks said they were left alone. I suspect that'…
By March of 2009, Miller's flagship had drawn down about 80 percent. He only drew down half that 11 years later. How does he get the new capital to take advantage?
Oh, but this, gotta love: He cited economist John Maynard Keynes who once said it wa…
I had a neighbor once tell me that stocks had to go up because everybody's retirement depends on it. I've started to wonder if that is a goal of all these emergency actions taken by the Fed and Congress. They're not backstopping stocks yet, but indi…
@MikeW. Literally, just looking around by Fund Family. Also, David's posts re: RiverPark. Just wanted to mention a couple examples. I'm sure there's a lot more. It did strike me that PIMCO's Total Return, once top dog, outperformed DoubleLine's Tota…
It was a bad month. The pandemic's economic impact is reminiscent of the financial crisis, only transpiring much faster. The world was unprepared. Hearing about "CV-19" at first seemed remote and contained, like the term "sub-prime mortgages." Then…
At first, I thought the hit would be more like 1987 or 9/11. Rapid, event-driven shock. But then, given its unprecedented and widespread nature, I believed this would be as bad as the Great Recession if not worse. That's the way I thought most folks…
On regulation, there just seems too much dispersion on how things are priced. In the post-modem, if not regulation or in addition to it, a better mechanism to buy and sell bonds, more like equities.
https://www.cnbc.com/2020/04/02/godfather-of-etf…
Indexes are one thing. Ditto large, passive ETFs. Transparent. US Treasuries.
I read a Dave Nadig interview recently about bond pricing. He likens it to Zillow. Especially precarious with lightly traded assets in an open-ended vehicle that must sel…
The Russell 2000 much more indicative of the breath of hemorrhage than the SPY. Former now down from February peak 37% vs 27% for latter, intra-day 1 April. SPY heavy info/tech ... companies expected to fare better with CV-19 crisis.
@Crash. If today's S&P holds, I have it down (only) 18.5% from last peak, which means the bull market has not ended ... using month ending data only, which is pretty common.
Thank you all again for the additional thoughts and sharing of strategies you've developed!
@BenWP. Yes, I've had to cancel three flights because of CV-19 so far this year. Only Delta offered refund. Alaska and JetBlue credit only.
Thank you.
I can honestly say that in my 20 years of active investing, I've never witnessed more fear than I have the past 2-3 weeks. Even 2008-2009.
At some event level, is there a tipping point? That whatever I can get in CDs is good enough?
@MikeW. The fund's thesis was that senior non-agency RMBS debt once considered toxic was now much more credit worthy because: 1) borrowers now fully entrenched in their homes, 2) home values now exceed money owed ... more so each month due to both …
