Re: Evaluating Managed Funds
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Run it against IJJ for any time period and tell me why I should be convinced.
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Given your parameters (i.e., just comparing the charts), I can't. It's all about temperament, philosophy, and the flexibility to alter the size of the cash position.
This discussion reminds me of why I sometimes refer to it as the value investing "religion": smart people disagree about this stuff, and it basically boils down to whether or not you believe in it.
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I think it boils down to 1 + 2 = 3.
FAIRX hasn't outperformed Mid Cap value Index, period.
The ETF is also more tax efficient (look at those cap gains just paid for the Fairholme fund. UGGGGHHH) and has 0 management risk or risk the fund's objectives will change.
It is truly amazing how people refuse to believe that sell-side Wall Street is just that - a sales racket.
Also - this 4th quarter rally is a charade. It is a tale full of sound and fury, signifying nothing.
It's bonus time on Wall Street and they are driving the market up in order to secure year end windfalls in their paychecks.
Why is this never discuessed on CNBC? Its a all a big lie and actively managed mutual funds suck, end of discussion.
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