|
Post by rgs2001uk on Feb 22, 2021 21:06:37 GMT 7
Is this the Ruffer you mention? Persoanally not to happy with that top ten holding. I think that breakdown is many months out of date. Now they're heavily into Bitcoin. I used to hold them, but I think they've lost their way. However, I don't see their holding their own specialised funds as particularly an issue. (If they were third party funds, with two layers of charges, then that would be a no-no for me.) (I wonder what Freud would make of the word "Persoanally".) , nice one AyG. Bitcoin is a big no no for me, I wonder what Max Keiser would make of it all. More of a Voltaire man myself than a Freudian.
|
|
AyG
Crazy Mango Extraordinaire
Posts: 5,871
Likes: 4,555
|
Post by AyG on Feb 23, 2021 5:26:07 GMT 7
Just a bit more on JMG: it fell 4.45% yesterday. My initial response was that it was a reaction to the interim dividend announcement. For the previous two years it was 5p and 5.2p. This year it's 0.52p. However, I was forgetting the 10:1 share split earlier in the year. Don't know what to think.
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Feb 23, 2021 7:32:45 GMT 7
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Feb 23, 2021 7:41:27 GMT 7
I agree rgs but the difference is not just a working man and a pensioner, I think it goes beyond that and can apply to almost anyone. Attitude to risk can change for a variety of reasons, age is just one of them and you don't have to be a pensioner for it to change. Given the current market conditions I would expect lots of different types and age of people to be reducing their risk and indeed I have seen evidence of that on other forums that specialise in investing.. .the moneysaving expert forum is an example. One poster in his early 40's and earning a solid income had moved his entire six figure SIPP into the likes of Ruffer, because he wanted to be able to sleep at night, others were very receptive to the idea.Rebalancing is another way to mitigate some risk. There will be many people who have seen some of their funds surge disproportionately over the past year, their risk levels may have been acceptable at the start of the year but the surge in some areas will have thrown that out of whack and the risk levels are now not acceptable.....would I honestly chose to hold 25% of EM and another 25% of Tesla and FANG stocks...I don't think so. Any reason given for selling? Why were the others receptive? Is this the Ruffer you mention? I think increasingly that investors are looking for a safety net and to take some of the risk out of their holdings, I know I have. This is perhaps in recognition of having had a good run and wanting to lock in profit but more likely because of the seemingly perilous state of the markets. It's pointed out frequently that current valuations are not justified based on traditional fundamentals, I think that's making people nervous and many are torn between greed and fear. When I say Ruffer I really refer to a series of funds that are geared towards wealth preservation, Ruffer is one, CGT is another, PAT is a third. The bonds some of those funds hold are mostly linkers and Treasury Bills.
|
|
|
Post by rgs2001uk on Feb 23, 2021 20:36:04 GMT 7
Just a bit more on JMG: it fell 4.45% yesterday. My initial response was that it was a reaction to the interim dividend announcement. For the previous two years it was 5p and 5.2p. This year it's 0.52p. However, I was forgetting the 10:1 share split earlier in the year. Don't know what to think. Scottish M, taking a beating, , the markets are doing my job for me, no need to sell, the markets are correcting my %age holdings for free, 555.
|
|
|
Post by rgs2001uk on Feb 23, 2021 20:37:22 GMT 7
Any reason given for selling? Why were the others receptive? Is this the Ruffer you mention? I think increasingly that investors are looking for a safety net and to take some of the risk out of their holdings, I know I have. This is perhaps in recognition of having had a good run and wanting to lock in profit but more likely because of the seemingly perilous state of the markets. It's pointed out frequently that current valuations are not justified based on traditional fundamentals, I think that's making people nervous and many are torn between greed and fear. When I say Ruffer I really refer to a series of funds that are geared towards wealth preservation, Ruffer is one, CGT is another, PAT is a third. The bonds some of those funds hold are mostly linkers and Treasury Bills. Point taken, still waiting for a reason for the sell off, inflation?
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Feb 23, 2021 22:12:20 GMT 7
I think increasingly that investors are looking for a safety net and to take some of the risk out of their holdings, I know I have. This is perhaps in recognition of having had a good run and wanting to lock in profit but more likely because of the seemingly perilous state of the markets. It's pointed out frequently that current valuations are not justified based on traditional fundamentals, I think that's making people nervous and many are torn between greed and fear. When I say Ruffer I really refer to a series of funds that are geared towards wealth preservation, Ruffer is one, CGT is another, PAT is a third. The bonds some of those funds hold are mostly linkers and Treasury Bills. Point taken, still waiting for a reason for the sell off, inflation? Who knows...inflation, bubble, a socio-economic event, panic, a virusy type of event, a disaster of some sort.....your guess is as good as!
|
|
GavinK
Crazy Mango
Posts: 101
Likes: 55
|
Post by GavinK on Feb 24, 2021 19:55:37 GMT 7
Any reason given for selling? Why were the others receptive? Is this the Ruffer you mention? I think increasingly that investors are looking for a safety net and to take some of the risk out of their holdings, I know I have. This is perhaps in recognition of having had a good run and wanting to lock in profit but more likely because of the seemingly perilous state of the markets. It's pointed out frequently that current valuations are not justified based on traditional fundamentals, I think that's making people nervous and many are torn between greed and fear. When I say Ruffer I really refer to a series of funds that are geared towards wealth preservation, Ruffer is one, CGT is another, PAT is a third. The bonds some of those funds hold are mostly linkers and Treasury Bills. PAT (PNL) has been sliding this week - looks as though it's close to where it was 6 months ago. Have you bought yet ?
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Feb 24, 2021 19:59:32 GMT 7
No I haven't and I'm not sure that I will. I want to spend some more time watching to see how these funds behave in different circumstances before I get deeper involved. CGT is down 1.7% over one month but up 2.9% over six months. PNL is down 1.98% over one month and down 1.68% over six months.
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Feb 25, 2021 6:03:40 GMT 7
Charlie Munger on Robinhood, telling it like it is: “I think you should try and make your money in this world by selling other people things that are good for them, and if you’re selling them gambling services -- where you make profits off the top, like many of these new brokers who specialize in luring the gamblers in -- I think it’s a dirty way to make money, and I think that we’re crazy to allow it,” Munger, 97, said Wednesday at the annual meeting of Daily Journal Corp., where he is chairman. www.bloomberg.com/news/articles/2021-02-24/munger-calls-out-robinhood-other-brokers-for-dirty-profits?srnd=premium-asia
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Feb 27, 2021 6:40:39 GMT 7
rott - you mention that PNL has been sliding all week. I read that the FM, Sebastion Lyon, is famous for trying to maintain NAV in a fairly tight range and historically he's been able to do that. That means he's going to underperform the sector baseline from time to time but that's just the nature of the fund.
Am trying to see what lessons I can learn from the latest markets pull back,. I'm down about 5% across the board although smaller companies were unaffected. CGT lost the least which is what I would expect, down about 1%. Martin Currie fell more than I expected but that's the technology influence. JPM EM we all know about, BG Int. was a function of Tesla, and FSSA Asia resulted from markets contagion.....I think.
My recent risk reduction exercise didn't save me much, only the fact that I went to over 20% in cash helped, I suppose there's not much that can be done about a markets pull back, other than get lucky.
|
|
|
Post by rgs2001uk on Feb 28, 2021 20:43:09 GMT 7
rott - you mention that PNL has been sliding all week. I read that the FM, Sebastion Lyon, is famous for trying to maintain NAV in a fairly tight range and historically he's been able to do that. That means he's going to underperform the sector baseline from time to time but that's just the nature of the fund. Am trying to see what lessons I can learn from the latest markets pull back,. I'm down about 5% across the board although smaller companies were unaffected. CGT lost the least which is what I would expect, down about 1%. Martin Currie fell more than I expected but that's the technology influence. JPM EM we all know about, BG Int. was a function of Tesla, and FSSA Asia resulted from markets contagion.....I think. My recent risk reduction exercise didn't save me much, only the fact that I went to over 20% in cash helped, I suppose there's not much that can be done about a markets pull back, other than get lucky. , if it makes you feel any better I am down about 10% across the board. Must apologise for not checking in earlier, was on a road trip taking advantage of the Govts khon la krueng opportunity, a 4500 baht per night residence reduced half price, bargain, the place was rocking, who says the Thais dont have money.
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Mar 1, 2021 4:44:53 GMT 7
rott - you mention that PNL has been sliding all week. I read that the FM, Sebastion Lyon, is famous for trying to maintain NAV in a fairly tight range and historically he's been able to do that. That means he's going to underperform the sector baseline from time to time but that's just the nature of the fund. Am trying to see what lessons I can learn from the latest markets pull back,. I'm down about 5% across the board although smaller companies were unaffected. CGT lost the least which is what I would expect, down about 1%. Martin Currie fell more than I expected but that's the technology influence. JPM EM we all know about, BG Int. was a function of Tesla, and FSSA Asia resulted from markets contagion.....I think. My recent risk reduction exercise didn't save me much, only the fact that I went to over 20% in cash helped, I suppose there's not much that can be done about a markets pull back, other than get lucky. , if it makes you feel any better I am down about 10% across the board. Must apologise for not checking in earlier, was on a road trip taking advantage of the Govts khon la krueng opportunity, a 4500 baht per night residence reduced half price, bargain, the place was rocking, who says the Thais dont have money. How the other half lives, sigh. Was it a genuine half and half or did the hotel bump its price by 25% beforehand?
|
|
|
Post by rgs2001uk on Mar 1, 2021 20:52:11 GMT 7
, if it makes you feel any better I am down about 10% across the board. Must apologise for not checking in earlier, was on a road trip taking advantage of the Govts khon la krueng opportunity, a 4500 baht per night residence reduced half price, bargain, the place was rocking, who says the Thais dont have money. How the other half lives, sigh. Was it a genuine half and half or did the hotel bump its price by 25% beforehand? , yes genuine, have been using the place for years, get out of the farang ghettoes and its a whole new world, you wont hear such bar girl talk as cheap chalee or ting tong.
|
|
chiangmai
Crazy Mango Extraordinaire
Posts: 6,232
Likes: 5,242
|
Post by chiangmai on Mar 3, 2021 11:57:15 GMT 7
You're 55 years old, you can have only one fund, it's your last 10,000 Pounds, you can't afford to lose the money.....what will you buy?
A nice and safe mixed asset fund such as CGT? An income fund perhaps? Some sort of tracker fund maybe? Or will you bet the farm on a Fundsmith/LT Global or a Baillie Gifford product such as BG American? Me, I think I'd do something like this:
Vanguard FTSE All World UCITS ETF GBP, or maybe
iShares MSCI World ETF
What would you do?
|
|