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I’ve been thinking a lot lately about how long is long enough to give a strategy the opportunity to prove successful. Roy Weitz used five years. He founded our predecessor site Fund Alarm. If a fund was in the basement the past 1, 3, and 5 years, he sounded the alarm … designating the …
Continue reading “US Market Over The Long Run”
We thought we’d start continue up with the 130 U.S. equity funds which have passed their second anniversary but have not yet reached their third, which is when conventional trackers such as Morningstar and Lipper pick them up. As Charles has repeatedly demonstrated, the screener at MFO Premium allows you to answer odd and interesting …
Continue reading “Terrific Twos: The Top-Performing Two-Year-Old Funds”
We thought we’d start catching up with the 130 U.S. equity funds which have passed their second anniversary but have not yet reached their third, which is when conventional trackers such as Morningstar and Lipper pick them up. As Charles has repeatedly demonstrated, the screener at MFO Premium allows you to answer odd and …
It’s not as daft as you’d think. We asked the good folks at Morningstar if they’d generate a list of all five-star funds from ten years ago, then update their star ratings from five years ago and today. I’d first seen this data several years ago when it had been requested by a Wall …
Continue reading “Investing In Five-Star Funds?”
One difference between Morningstar’s results reporting (1-, 3, 5 and 10 year) and ours (up cycle, down cycle, full market cycles plus standard periods) is that theirs contains an invisible chasm. That chasm exists for funds that were around during the 2007-09 market crisis but that do not have a 10 year track record yet. …
Continue reading “The Invisible Chasm”
The current full market cycle began in October 2007 as domestic markets peaked just ahead of the worst financial meltdown since the Great Depression. Domestic markets hit bottom in early March, 2009, and have rebounded sharply since then. Mostly. Vanguard’s Total Stock Market Index took 52 months to recover from the crisis; that is, …
Continue reading “The Eternal Losers List”
Fund managers are seen, dear friends, as “the walking dead.” CBS News declared you “a losing bet.” TheStreet.com declared that you’re dead. Joseph Duran asked, curiously, “are you a dinosaur?” Schwab declared that “a great question!” Ric Edelman, a major financial advisor, both widely quoted and widely respected, declares, “The retail mutual fund industry …
Continue reading “Becoming Surprisingly Successful: Notes To The Mutual Fund Community (Part One)”
Here is link to David’s presentation: Like a Slow Motion Train Wreck