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Post by FD1000 on Mar 4, 2022 4:24:26 GMT
In this ( link) from 1/14/2022, I warned against holding PIMIX. PIMIX YTD performance is at -4.1%. Attachments:
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Post by chang on Mar 4, 2022 6:25:32 GMT
I think the Age of Bonds is over. I've made a note to look into bonds again in the year 2040.
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Post by FD1000 on Mar 4, 2022 15:38:03 GMT
I think the Age of Bonds is over. I've made a note to look into bonds again in the year 2040. All I can say VOLATILITY=OPPORTUNITY |
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Post by FD1000 on Mar 4, 2022 23:49:00 GMT
Today PIMIX lost another -0.4%. How do you know that PIMIX really stinks? YTD it lost double than IOFIX. Pimco is considered as one of the best fixed income shop in the world....mmm  |
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Post by FD1000 on Mar 8, 2022 0:01:00 GMT
PIMIX another -1% today.
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Post by Chahta on Mar 8, 2022 0:28:41 GMT
I think the Age of Bonds is over. I've made a note to look into bonds again in the year 2040. I don’t think that is true at all. Sure they have lost but most not nearly what equities have. Pretty much a buying opportunity is shaping up for them. |
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Post by Chahta on Mar 10, 2022 15:18:22 GMT
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Post by Deleted on Mar 10, 2022 18:44:55 GMT
What is going on here? Sounds like one of those hidden/not obvious things that can cause issues in more and more assets. |
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Post by alvinthechipmunk on Mar 10, 2022 19:38:28 GMT
A few years ago, I consolidated and simplified, reducing the number of holdings I own. I've since spread-out my bond exposure. The bases I've currently got covered include: 1)Core-plus. 6.26% of portfolio total, including stocks. 2) Global, but US dollar hedged. 13.37% of total. 3) junk. 8.08% of total. 4) Floating Rate/Bank Loans. 13.27% of total 5) A broad spectrum fund, a fund of funds: 11.07% of total. I'd say I'm better off than if I had NOT expanded my menu. None of them is in POSITIVE territory. But it's not a disaster. The unrealized losses in 2022 ytd are tolerable, and the reinvested dividends continue, unabated. Yields have risen, as expected. BRUFX and PRWCX are my balanced funds, and they contribute their income at the end of the year, always. Total yield on the full portfolio (according to Morningstar X-Ray) = 85% higher than the yield on the SP500. That's not a goal, just an observation. None of mine is doing as badly as PIMIX YTD, though TUHYX is not far behind. ... PIMIX is INSANELY huge. Owns about 8,000 different bond positions. "Run away and be very afraid." What does anyone think of another multisector bond fund: MWFEX. I mean, apart from the $3M entry point? Maybe there is an Investor Class of shares? www.morningstar.com/funds/xnas/mwfex/quote |
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Post by Chahta on Mar 11, 2022 1:17:47 GMT
What is going on here? Sounds like one of those hidden/not obvious things that can cause issues in more and more assets. Exactly. PIMCO bought Russian bonds in 4 of their bond OEFs. The losses of the last couple of weeks had a lot to do with the NAV decline. Further they sold swaps to private investors that they may have to make good to those investors if Russia defaults. Really put their shareholders in the 4 funds at risk. Just like the defaulted Argentina bonds a few years ago. They are forthcoming as a manager. |
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Post by FD1000 on Mar 11, 2022 14:43:09 GMT
A few years ago, I consolidated and simplified, reducing the number of holdings I own. I've since spread-out my bond exposure. The bases I've currently got covered include: 1)Core-plus. 6.26% of portfolio total, including stocks. 2) Global, but US dollar hedged. 13.37% of total. 3) junk. 8.08% of total. 4) Floating Rate/Bank Loans. 13.27% of total 5) A broad spectrum fund, a fund of funds: 11.07% of total. I'd say I'm better off than if I had NOT expanded my menu. None of them is in POSITIVE territory. But it's not a disaster. The unrealized losses in 2022 ytd are tolerable, and the reinvested dividends continue, unabated. Yields have risen, as expected. BRUFX and PRWCX are my balanced funds, and they contribute their income at the end of the year, always. Total yield on the full portfolio (according to Morningstar X-Ray) = 85% higher than the yield on the SP500. That's not a goal, just an observation. None of mine is doing as badly as PIMIX YTD, though TUHYX is not far behind. ... PIMIX is INSANELY huge. Owns about 8,000 different bond positions. "Run away and be very afraid." What does anyone think of another multisector bond fund: MWFEX. I mean, apart from the $3M entry point? Maybe there is an Investor Class of shares? www.morningstar.com/funds/xnas/mwfex/quoteLet's think about it. What spreading does? Usually the following: 1) More funds = more trading = less performance 2) Doesn't help performance or risk (SD, Sharpe, Sortino) 3) When your current funds don't do well, you add more funds. Even if you added a good fund, the total wouldn't be better, because it's a smaller % of your portfolio and the "bad" funds drag your portfolio. But, that's what many investors do, you are in a good company  . I believe that most should own up to 5-7 funds with min trading. The other good choice, and what I do, is to change your funds based on the market. I explained how I do it on my site. |
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Post by alvinthechipmunk on Mar 11, 2022 22:21:39 GMT
Good points. And of course, I made those selections pre-war in Ukraine. Putin= P.O.S. I don't want to be married to any of my holdings. But I remind myself that I selected them after much observation, homework and due diligence. When will the war end? It might be YEARS. When will inflation calm down? Not soon. I've not used my brokerage account much, at TRP. I can do some looking at prospects, there. I'm a bit handcuffed because the lion's share of the money is in T-IRA. Our particular situation is... weird. We're not hurting, but we pay no tax, and I want to keep it that way. I'm slowly growing cash in taxable, ordinary investment account. THAT is where I have more room to "play." ...The monthly div. income is not needed at this time. Ever since I started investing in 2003, all profits have been plowed back into the accounts. Don't have to worry about RMDs for 5 more years. THANKS for the response. As ever, everyone's situation and needs are different. All things being equal, you're 100% correct. But life happens. And it's never ideal. So, I make the most of the hand I was dealt. Prospects do not look bad. |
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