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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
@rono.
You mean Elizabeth Warren?
I think she is one of most capable senators we have.
Honestly, she is probably the most capable presidential candidate, who has chosen not to run.
Maybe say bye-bye to big oil dividends, at least for a while.
Time to release the lifeboats if OXY dividend retreats.
Fingers-very-crossed that does not happen!
@Junkster.
Would it be from the fear of who is elected President later this year?
The market does seem to be inversely correlated to Bernie Sanders' standing in national polls.
Off topic: I'll probably be voted off the island for writing this, but…
@PRESSmUP...
Yes, I remember when BB discussed possibly having to close FAIRX when it hit $25B. I believe FAIRX exceeded $20B after BB was given Fund Manager of Decade recognition by M*.
@Lawlar...
Yes, I know.
Here, adding to Junkster's comments today about market seemingly headed to bear territory, as of month ending January, many U.S. Equity sectors are already down 20% or more. See the MAXDD numbers in past year performance da…
Hard times lately for our hero Bruce Berkowitz ...
massive drawdowns and substantial under-performance these past 12 months for all his funds:
Flagship FAIRX is in fact an MFO Three Alarm fund, which means bottom quintile absolute return in i…
Some other notables with steep monthly pullbacks:
Dodge & Cox International Stock (DODFX): -9.4% ... on top of -4.8 in Dec and -1.6 in Nov.
T Rowe Price Growth Stock (PRGFX): -9.1
Oakmark International I (OAKIX): -9.0
Fidelity Growth Company (F…
ZIRP certainly seems to have distorted the investment landscape.
Thanks MJG as always for your good insight.
This past year I've taken a buy-and-hold approach with my personal investments.
Invest in companies you want to own forever, ideally, rig…
One thing that always strikes me about FAIRX is the increase in volatility between its first decade and its second. Just look at the standard and downside deviations (STDEV and DSDEV) and Ulcer Indices across the last two full cycles (denoted Cycle…
If you were lucky enough to invest with BB since FAIRX inception, congratulations ... you've received 10.1% per year for the past 16 years! (Through December 2015 anyway.) But the past 5 years, at least, must be testing everyone's patience. FAIRX is…
Here are risk/return metrics across various time frames since the fund's inception from MFO's Risk Profile tool:
SMVLX is a dual MFO Great Owl and Honor Roll fund, at least through December 2015.
Here is link to David's Positive Profile of t…
I think that is a wise move since the leadership at AQR Funds is simply not supportive of individual investors. A shareholder unfriendly shop actually, and it should never have offered shares on retail market.
Below are some 2015 risk/return metrics for the M* winners.
The loaded American fund ANWPX is probably my only real disappointment, but I feel that way about all loaded funds ... especially American's since they have highest number of share classes…
Our colleague Sam Lee profiled beautifully these two young AQR alternative funds last September:
http://www.mutualfundobserver.com/2015/09/aqr-style-premia-alternative-i-qspix-aqr-style-premia-alternative-lv-i-qslix-september-2015/
Here are their …
Thanks for sharing Old_Skeet.
Certainly been a brutal start to 2016.
I listened to the BAC 4Q earnings call yesterday morning, encouraged.
Earnings seemed strong across the board. Analysts appear to have issues though with its efficiency numbers…
David and our colleague Sam Lee are admirers of Leuthold.
All its funds have beaten peers since inception on absolute return ... below are its four long funds:
Thanks for sharing David.
Good stuff msf!
I actually think the folks at Whitebox did all they could to articulate their strategies. I never got the impression they wanted their investors to "Just trust us...," like the article suggests. Their conf…
Below is a simple table summarizing performance for year, organized by SubType and Category ... showing Peer Count and Total Return Averages.
Results are computed from our Lipper database month ending December 2015, excludes money market funds. Fun…
Thanks vkt, TSP_Transfer, other for sharing on this post.
Mine is certainly not a balanced portfolio ... heavy financials still.
Here's year end performance for the list of struggling funds I posted above ... click images to enlarge.
Most worse o…
I will sir.
As of 10:30 pm central coast time, Lipper has still not dropped monthly data through December.
Hopefully, tomorrow and will update soonest.
c
@vkt
Thank you.
Down 9%? That is serious damage!
Hmmm.
Yep, certainly if you need to sell.
But, glancing over some notable funds (thru Nov anyway), I'm in good company ...
PIMCO ALL ASSET ALL AUTHORITY INST (PAUIX) -13.5
T ROWE PRICE NEW ERA (PR…
If I remember correctly, Mr Redleaf asked to be benchmarked against the best endowment performance, like Yale. Suspect by that measure, it's not done that well the past 1-2 years. Still, believe the TacOps fund is pretty young. Maybe just 4 years ol…
Nope. Did not see coming.
Though suspect it helps explain the recent departure of Jason Cross.
Nothing like low oil prices to kill alternative energy.
Nothing like a bull market to kill alternative funds.
Still, dissappointing. I thought the fol…
