…new shares as new investors come into the fund and shares are created or redeemed after business hours at the net asset value (NAV) directly with the fund company. In…
…my fingernails dirty figuring it out, but what I came to realize is that it relies on our estimates of future returns, volatility and correlation. Who says that our estimates,…
…is called a 13D filing. When the fund, known as the 13D Activist Fund, sees one of 20 or so activist investors take a stake in a company, they buy…
…market. More simply, on average, cheap beats expensive. The other strategy, momentum, simply invests in the companies that have had good relative returns compared to other stocks. The fund that…
…for 40 Years.’ The article highlights the performance of The Nicholas Fund (ticker: NICSX), a $3.6 billion mutual fund run by Albert Nicholas, who started the fund in 1969. The…
…Fund fared poorly by looking at ‘Investor Returns’ that Morningstar calculates by incorporating flows in and out of the fund. While the fund earned 7.47 percent, just below the S&P…
…tilts that approximate the value fund in question and it turns out that the index fund portfolio earned more than one percent annually more than the fund. Essentially, I found…
…does the same thing for taxable, investment grade bonds, the MSCI EAFE tracks non-US stocks and the CRB Commodity Index follows commodity futures. Unlike stocks, bonds or commodities, hedge funds…
…annualized rate of -2.41 percent per year. Any guesses as to how long it takes you to recover from the underperformance and start to outperform? Nineteen years. The microcap fund,…
…a love-hate relationship with Morningstar. I love the data and some of the commentary, but the star-system oversimplifies complex information that promotes short term investing and performance chasing. Buyer beware….
