|
Post by keppelbay on Dec 30, 2023 12:12:41 GMT
A little end of year homework got me looking into the long-term cash flow from PDI and a few other CEFs.
The striking result is how much cash some of these have returned over the years. Many of us focus on the NAV / share price, and looking at the graphs on CEF connect show long term declines in both NAV and price for many of these funds. So, it looks ugly!
(sorry, can't post the image... trust me it is ugly)
But when you look at total cash flow something interesting emerges:
Inception Inception Inception cash % original TR since date price NAV out cash out inception DBL 2012 25 23.83 21.66 87% 4.7% DMO 2010 20 19.06 33.54 168% 6.8% PDI 2012 25 23.88 33.83 155% 10.5% PIMIX* ~11 8.38 76% 6.8%
Long term, PDI has thrown off 1.5x the original investment in cash, and you would still own the shares and the corresponding cash flow. Likewise DMO. Important to note that the share prices and NAVs are down from inception. This shows up in the total return column.
The other take home is that the comparatively low-octane PIMIX has done quite well over the same period in TR terms. Comparable to DMO and better than DBL. Much lower volatility, and no leverage-related capital destruction. Maybe slow and steady is OK.
Caveat - PIMIX and PDI had a really hot streak in the early years. The mortgage MBS that they (and DMO) were able to pick up back then fueled extraordinaty returns in 2012-2016. These have probably mostly been paid off, so their future may never resemble the past. The next year or so - as rates drop - should be informative.
----- nuts and bolts ---- * PIMIX share class inception 2007, showing data from 2012 for comparison with PDI. Note: it is hard to find the numbers from more than 10 yrs ago, so the PIMIX price is an eyeball estimate from a graph.
The total 'cash out' numbers come from CEF connect. You can get this under the distribution history heading if you set the start date appropriately. This list includes special distributions and captial gains distributions. Oddy, the corresponding chart from the DMO website only sumarizes ordinary distributions, and so omits a big part of the cash flow from the go-go years. The PIMIX cash flow numbers are from my own records of ongoing distributions (PIMCO only gives numbers back to 2018). I've held the fund since 2012.
|
|
|
Post by FD1000 on Jan 7, 2024 15:00:31 GMT
|
|
|
Post by Norbert on Jan 7, 2024 16:07:25 GMT
Let's compare PDI (blue) to SPY (red), starting from PDI inception. Assume starting $1M portfolio with an annual $40,000 withdrawal, inflation adjusted. (Click to enlarge.) Both funds have easily covered the withdrawals starting 2012, while also increasing capital. It's only during the past three years that SPY surged, probably thanks to Federal money printing; PDI was hurt by rising rates. Will the future resemble the past three years? Or, look very different? Just because SPY's total return is more attractive during the recent past doesn't mean it will be more attractive going forward. Beware of hindsight-based thinking.
|
|
|
Post by rhythmmethod on Jan 7, 2024 16:20:58 GMT
Let's compare PDI (blue) to SPY (red), starting from PDI inception. Assume starting $1M portfolio with an annual $40,000 withdrawal, inflation adjusted. (Click to enlarge.) View AttachmentBoth funds have easily covered the withdrawals starting 2012, while also increasing capital. It's only during the past three years that SPY surged, probably thanks to Federal money printing; PDI was hurt by rising rates. Will the future resemble the past three years? Or, look very different? Just because SPY's total return is more attractive during the recent past doesn't mean it will be more attractive going forward. Beware of hindsight-based thinking. Yes, that! I'm long PDI. The future will be tomorrow's hind-sight thinking.
|
|
|
Post by yogibearbull on Jan 7, 2024 16:31:31 GMT
The OP was analyzing since inception. Also, for funds people are using for withdrawals, use withdrawal related parameters such as PWR, SWRM, etc, NOT point-to-point TR.
So, for 06/2012-12/2023 (not a very long period),
PWR SWRM Notes PDI 6.13% 8.43% OK PIMIX 2.65% 3.10% Low VFINX 9.63% 11.67% Best, but how many retirees would have guts for all-stock portfolio?
Edit/Add
PWR is the perpetual withdrawal rate is the percentage of portfolio balance that can be withdrawn at the end of each year while retaining the inflation adjusted portfolio balance (percentage withdrawal).
SWRM is the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, but at the end of the term, the leftover amount is fraction f of the inflation-adjusted original principal (dollar amount withdrawals).
|
|
|
Post by FD1000 on Jan 7, 2024 21:42:42 GMT
Sure, let's compare value to growth since 2000 and disregard performance since 2010. Any time the last several years don't work, you can go far enough to find better performance. How many investors hold a managed fund at least 10 years at a high %? A small % How many hold the SP500 or VTI over 10 years? a much higher %. Who said you should be at 100% stocks for retirees. I have said many times that leveraged CEFs should be a part of a retiree's stock portion and not the "safer" portion. The good news, PDI started 2023+2024 much stronger than SPY but SPY made more than twice as PDI. The bad news, in the last 5 years(2019-23) SPY made 106% while PDI made less than 20% which is more than 5 times better. PDI has a lot of distance to cover. Time will tell. BTW, I started posting bad opinions about PDI since 2019 and not prior to 2019. Last post on this thread.
|
|
|
Post by mnfish on Jan 8, 2024 11:55:29 GMT
"So, for 06/2012-12/2023 (not a very long period)" "but how many retirees would have guts for all-stock portfolio?"
The ultimate in "guts" (and leverage) would have been to hold TQQQ during that time frame. It's up 7,243%. Any takers for the next 10 years?
|
|
|
Post by steelpony10 on Jan 8, 2024 13:54:42 GMT
keppelbay , Remember you’re largely comparing apples to oranges, leveraged bonds (or any bonds) that provide steady income and trade within ranges to equities that most of the time with lulls provide cap gains. There’s a reason age old advice leans towards reducing equities as one ages. Cash, cd’s and 2-3% yields aren’t for me and major holdings in equities beyond 50% is high risk for me. With about 70% of our CEF’s we’ve received all our investment back on the positions taken during the bank crisis 2009-2010 at deep discounts like the last few years, 2020- . Still waiting on the 2020 and 2022 investments after finishing our income section up. I like the thousands of free money I’ll receive to the end based on past performance rather then projecting equity values based on unknowns, spend down, hesitant quality of life purchases or living in skinflint mode with constant portfolio juggling based on the news of the day. It’s so easy to set up.* *If you ever face end of life issues like LTC 8-10% distributions spent down last as long or longer then equities if the economy is in a funk at the time of need. Now a major investment in equities and skin flint mode will work and all you’re countless hours spent gambling on unknowns in retirement will be greatly appreciated by the facility. I expect 150k a year and up if you're at all concerned about a spouse living on the outside.
|
|
|
Post by Broozer on Jan 9, 2024 2:01:37 GMT
I will have been retired 3 years this coming April. My only income is SS and my portfolio. CE bond funds (all within a SEP) make up 32% of my total holdings (overall I'm 35 equity - 65 bonds/MM). My total PF value is still down about 6-7% from its January 2022 high, mostly from the CEFs.
Guess what? -- I don't care, I don't obsess over asset values. In almost 3 years I've not had to sell one single thing, my PF income continues to go up, and of the RMDs I have to take out probably 2/3 of it gets re-invested into my taxable account in other funds. I don't even have to take all the income to meet the RMDs, I've re-invested the monthly income of two CEFs that are down the most. My PF rate of return was up 7.05% in 2023.
So far so good. My biggest worry now is if I start getting senile in a few years (73 now) I won't be able to manage all this, which I've done since the beginning, so who will do it? Nobody in my family, probably have to hire it done which I will not like, but will probably have no choice.
|
|
|
Post by gman57 on Jan 9, 2024 3:24:08 GMT
I will have been retired 3 years this coming April. My only income is SS and my portfolio. CE bond funds (all within a SEP) make up 32% of my total holdings (overall I'm 35 equity - 65 bonds/MM). My total PF value is still down about 6-7% from its January 2022 high, mostly from the CEFs.
Guess what? -- I don't care, I don't obsess over asset values. In almost 3 years I've not had to sell one single thing, my PF income continues to go up, and of the RMDs I have to take out probably 2/3 of it gets re-invested into my taxable account in other funds. I don't even have to take all the income to meet the RMDs, I've re-invested the monthly income of two CEFs that are down the most. My PF rate of return was up 7.05% in 2023.
So far so good. My biggest worry now is if I start getting senile in a few years (73 now) I won't be able to manage all this, which I've done since the beginning, so who will do it? Nobody in my family, probably have to hire it done which I will not like, but will probably have no choice. When I first retired I was the about same. 30% stocks 60% bonds 10% cash with many different funds, CEFS and stocks. Now retired going on 17 years I changed my allocation to 55% stock, 35% bonds and 10% cash. Over time I realized I was way too conservative for my risk tolerance. I also over time got rid of everything to make it easy for whoever takes over. My holdings now, 45% VOO, 10% AMZN,GOOG,VZ, 35% PIMIX and 10 cash. I'll soon sell AMZN,GOOG,VZ and put it all in VOO so all I'll have is VOO,PIMIX and cash. I can't make it any simpler than that. I actually wish I would have done this years ago, (went to 2 holdings plus cash). I can't wait to see my performance over the next 5+ years, I think it'll be better than all the slicing and dicing I've done.
|
|
|
Post by archer on Jan 9, 2024 4:35:40 GMT
I'm holding PDI, betting on it being past it's bottom, and benefiting from the Fed's direction. That said, I have a lot more 2X leveraged $SPX than PDI. I think both will do well.
|
|
|
Post by chang on Jan 9, 2024 10:25:49 GMT
(sorry, can't post the image... trust me it is ugly) You should learn, it's easy. To insert an image from the internet, just click the "Insert Image" icon , and insert the image's URL. It will automatically appear at full size. To insert an image from your computer, click the "Add Attachment" button above. Then click "Add Files" (add the file and then wait a second), then be sure to click "Insert". It will appear where your cursor is. It will, however, appear as a thumbnail, so most people type the words "Click to enlarge" or "Click to expand". (If you don't click insert, the image will appear at the bottom of your post.) Also, see here: www.proboards.com/user-guide/posting/inserting-images
|
|
|
Post by richardsok on Jan 9, 2024 10:31:42 GMT
gman and broozer make good points. Many's the time I've thought I spend entirely too much time on my investments; reading, ciphering, posting, etc. I enjoy it, I suppose, which is kind of sad -- that, and I've never been able to hold really big positions, about 20% of my investable wealth in any one position has been my max. Cannot shake the thoughts that (1) the future may be utterly unlike what we've known in the past (2) when you've reached your 70s, opportunity to gain is probably running out (3) my heirs, both financially hopeless, will need every dime I can leave them and (4) if another Big One does arrive in my lifetime, I want no part of being heavily invested. With vigilance, I hope I might see it coming. (Reads like a list of neuroses.) BTW, I've returned to PDI. Feels like going out on a limb, but there's no arguing with the NAV lately. (Possibly bottomed in October). BTW #2. Interesting how confidence has come sparking back to so many after just one really good day. -----------------. I found this JP MORGAN 2024 OUTLOOK paper well worth reading. Note their 'Top Ten Surprise Predictions' on pp 39-44. (They say Biden will drop out "due to health" after Super Tuesday). assets.jpmprivatebank.com/content/dam/jpm-pb-aem/global/en/documents/eotm/outlook-2024.pdf
|
|
|
Post by steelpony10 on Jan 9, 2024 12:11:42 GMT
gman and broozer make good points. Many's the time I've thought I spend entirely too much time on my investments; reading, ciphering, posting, etc. I enjoy it, I suppose, which is kind of sad -- that, and I've never been able to hold really big positions, about 20% of my investable wealth in any one position has been my max. Cannot shake the thoughts that (1) the future may be utterly unlike what we've known in the past (2) when you've reached your 70s, opportunity to gain is probably running out (3) my heirs, both financially hopeless, will need every dime I can leave them and (4) if another Big One does arrive in my lifetime, I want no part of being heavily invested. With vigilance, I hope I might see it coming. (Reads like a list of neuroses.) BTW, I've returned to PDI. Feels like going out on a limb, but there's no arguing with the NAV lately. (Possibly bottomed in October). BTW #2. Interesting how confidence has come sparking back to so many after just one really good day. -----------------. I found this JP MORGAN 2024 OUTLOOK paper well worth reading. Note the 'Top Ten Surprise Predictions' on pp 39-44. (They say Biden will drop out "due to health" after Super Tuesday). assets.jpmprivatebank.com/content/dam/jpm-pb-aem/global/en/documents/eotm/outlook-2024.pdf Ok Captain Queeg: You solved #1 and #2 with a portfolio that works for you. That’s all any of us can do. If you like playing the game as one pastime good for you. If it’s your only pastime then….. #3. I had a conversation with my brother-in-law similar to what you’re thinking. I told him what if heirs blow through their inheritance in a few years because of their “past performance”? Seems like a futile concern. Same with worrying about my wife (but she’s a skinflint and it’s her money). I don’t think there is the same concern for me and my future welfare from anyone. Another big one could happen at any time, see #1. I would think after 1968-1982, 1999-2010 this present situation should go away someday. I have the problem I should be doing way more during this sale. This might be my last one. Confidence led me to complacency. PIMCO has been good to me since 2009,10.
|
|
|
Post by Norbert on Jan 9, 2024 14:53:23 GMT
gman and broozer make good points. Many's the time I've thought I spend entirely too much time on my investments; reading, ciphering, posting, etc. I enjoy it, I suppose, which is kind of sad -- that, and I've never been able to hold really big positions, about 20% of my investable wealth in any one position has been my max. Cannot shake the thoughts that (1) the future may be utterly unlike what we've known in the past (2) when you've reached your 70s, opportunity to gain is probably running out (3) my heirs, both financially hopeless, will need every dime I can leave them and (4) if another Big One does arrive in my lifetime, I want no part of being heavily invested. With vigilance, I hope I might see it coming. (Reads like a list of neuroses.) BTW, I've returned to PDI. Feels like going out on a limb, but there's no arguing with the NAV lately. (Possibly bottomed in October). BTW #2. Interesting how confidence has come sparking back to so many after just one really good day. -----------------. I found this JP MORGAN 2024 OUTLOOK paper well worth reading. Note their 'Top Ten Surprise Predictions' on pp 39-44. (They say Biden will drop out "due to health" after Super Tuesday). assets.jpmprivatebank.com/content/dam/jpm-pb-aem/global/en/documents/eotm/outlook-2024.pdfI don't think it's sad at all to enjoy investing, assuming that one has a healthy attitude towards it. If it becomes obsessive or fearful in some way, that would be a different story. It's true that the future may be entirely different than what we've grown accustomed to. I know that everything changed for our Israeli friends here on Crete when they woke up on October 7th. But, they're fighters and have returned home to help with the war effort. I like Albert Camus' retelling of the Myth of Sisyphus. In his version, Sisyphus's rock also keeps rolling back down the hill. But, Sisyphus begins to love the effort for its own sake; and to smile as he watches his rock roll back down.
|
|
|
Post by Broozer on Jan 9, 2024 15:28:56 GMT
I will have been retired 3 years this coming April. My only income is SS and my portfolio. CE bond funds (all within a SEP) make up 32% of my total holdings (overall I'm 35 equity - 65 bonds/MM). My total PF value is still down about 6-7% from its January 2022 high, mostly from the CEFs.
Guess what? -- I don't care, I don't obsess over asset values. In almost 3 years I've not had to sell one single thing, my PF income continues to go up, and of the RMDs I have to take out probably 2/3 of it gets re-invested into my taxable account in other funds. I don't even have to take all the income to meet the RMDs, I've re-invested the monthly income of two CEFs that are down the most. My PF rate of return was up 7.05% in 2023.
So far so good. My biggest worry now is if I start getting senile in a few years (73 now) I won't be able to manage all this, which I've done since the beginning, so who will do it? Nobody in my family, probably have to hire it done which I will not like, but will probably have no choice. My concern is not what happens after I draw my last breath (as some of you were talking about) that is laid out in my will. I worry about who will handle the various things within my portfolio when/if I'm no longer able to do it mentally: This income buys more shares, this income goes into a different fund, this income goes to my bank account to cover bills, etc.
Norbert wrote: "I don't think it's sad at all to enjoy investing, assuming that one has a healthy attitude towards it."
Me neither, it turned into a hobby for me; I'm mostly a buy-and-holder, although I may make a couple changes per year. I enjoyed reading the classic books, and then going online in 1994 opened up a whole new world, then putting everything with Schwab in 1997 really simplified everything.
|
|
|
Post by gman57 on Jan 9, 2024 16:04:51 GMT
gman and broozer make good points. Many's the time I've thought I spend entirely too much time on my investments; reading, ciphering, posting, etc. I enjoy it, I suppose, which is kind of sad -- that, and I've never been able to hold really big positions, about 20% of my investable wealth in any one position has been my max. Cannot shake the thoughts that (1) the future may be utterly unlike what we've known in the past (2) when you've reached your 70s, opportunity to gain is probably running out (3) my heirs, both financially hopeless, will need every dime I can leave them and (4) if another Big One does arrive in my lifetime, I want no part of being heavily invested. With vigilance, I hope I might see it coming. There is always worry/concern. Should I have all my eggs in two baskets? What if Pimco blows up? Should I have my funds at multiple firms rather than just one, just in case? Maybe I should still buy individual bonds to cut expenses. What if I THINK company X is the next Amazon. Now that I am getting older it's just time to simplify. I've been meaning to simplify for 10-15 years for two reasons... one it's easier and the other which I think is pushing me more is what if simplification leads to better returns than all the slicing and dicing I've done. Now I'm going to find out. We all enjoy investing as a part time hobby or I don't think we'd be on these investing forums. Simplification is forcing me to do NOTHING which is not as easy as it sounds.
|
|
|
Post by retiredat48 on Jan 9, 2024 16:16:21 GMT
I'm guilty...........
--Guilty of making investing a hobby
--Guilty of spending too much time on financial things, when I have nothing to gain but increase my kid's wealth
--Guilty of getting stretched too thin in helping other investors, especially family and community members.
--Guilty of under-managing my own portfolio, while excelling at some others portfolios.
But hey, I received a first-given Fidelity Academy Award for 2023...category: WISDOM.!!
R48
|
|
|
Post by uncleharley on Jan 9, 2024 18:02:10 GMT
I will have been retired 3 years this coming April. My only income is SS and my portfolio. CE bond funds (all within a SEP) make up 32% of my total holdings (overall I'm 35 equity - 65 bonds/MM). My total PF value is still down about 6-7% from its January 2022 high, mostly from the CEFs.
Guess what? -- I don't care, I don't obsess over asset values. In almost 3 years I've not had to sell one single thing, my PF income continues to go up, and of the RMDs I have to take out probably 2/3 of it gets re-invested into my taxable account in other funds. I don't even have to take all the income to meet the RMDs, I've re-invested the monthly income of two CEFs that are down the most. My PF rate of return was up 7.05% in 2023.
So far so good. My biggest worry now is if I start getting senile in a few years (73 now) I won't be able to manage all this, which I've done since the beginning, so who will do it? Nobody in my family, probably have to hire it done which I will not like, but will probably have no choice. Broozer. Go to Lumosity.com and read what they have to offer about maintaining mental acuity as you age. I am near 82 and have a family history of Dementia and I still manage my finances successfully. The Lumosity program may not be for you, but I can attest to the fact that it has helped me maintain my brain.
|
|
|
Post by archer on Jan 9, 2024 18:28:10 GMT
I will have been retired 3 years this coming April. My only income is SS and my portfolio. CE bond funds (all within a SEP) make up 32% of my total holdings (overall I'm 35 equity - 65 bonds/MM). My total PF value is still down about 6-7% from its January 2022 high, mostly from the CEFs.
Guess what? -- I don't care, I don't obsess over asset values. In almost 3 years I've not had to sell one single thing, my PF income continues to go up, and of the RMDs I have to take out probably 2/3 of it gets re-invested into my taxable account in other funds. I don't even have to take all the income to meet the RMDs, I've re-invested the monthly income of two CEFs that are down the most. My PF rate of return was up 7.05% in 2023.
So far so good. My biggest worry now is if I start getting senile in a few years (73 now) I won't be able to manage all this, which I've done since the beginning, so who will do it? Nobody in my family, probably have to hire it done which I will not like, but will probably have no choice. Broozer. Go to Lumosity.com and read what they have to offer about maintaining mental acuity as you age. I am near 82 and have a family history of Dementia and I still manage my finances successfully. The Lumosity program may not be for you, but I can attest to the fact that it has helped me maintain my brain. I had a Lumosity obsession a few years ago, and enjoyed the challenge of improving my game scores. I don't know how much benefit it has beyond getting better at the games, and science continues to debate the reach of efficacy. One issue I have with the games is my not being a proficient typist. This was a problem especially with the word games. It seems logical to me that it must help maintain function and carry over to other activities requiring cognitive skills. I excelled at the speed games, but found them emotionally stressful. LOL! I should take them up again and focus more on relaxing. Thanks for the reminder!
|
|
|
Post by gman57 on Jan 9, 2024 19:17:01 GMT
My answer is crossword puzzles although for now I only buy the big type, easy ones. Maybe someday I'll graduate to somewhat harder ones. Oops, I think we strayed just a little from PDI and long term cash flows.
|
|
|
Post by anitya on Jan 9, 2024 19:58:39 GMT
I will have been retired 3 years this coming April. My only income is SS and my portfolio. CE bond funds (all within a SEP) make up 32% of my total holdings (overall I'm 35 equity - 65 bonds/MM). My total PF value is still down about 6-7% from its January 2022 high, mostly from the CEFs.
Guess what? -- I don't care, I don't obsess over asset values. In almost 3 years I've not had to sell one single thing, my PF income continues to go up, and of the RMDs I have to take out probably 2/3 of it gets re-invested into my taxable account in other funds. I don't even have to take all the income to meet the RMDs, I've re-invested the monthly income of two CEFs that are down the most. My PF rate of return was up 7.05% in 2023.
So far so good. My biggest worry now is if I start getting senile in a few years (73 now) I won't be able to manage all this, which I've done since the beginning, so who will do it? Nobody in my family, probably have to hire it done which I will not like, but will probably have no choice. Broozer. Go to Lumosity.com and read what they have to offer about maintaining mental acuity as you age. I am near 82 and have a family history of Dementia and I still manage my finances successfully. The Lumosity program may not be for you, but I can attest to the fact that it has helped me maintain my brain. I think we had a thread about dementia and other regressive afflictions. May be someone can add UH post there. I have been thinking about if brain training (elevating one's intelligence) would not prevent or lessen the effects of these afflictions and so UH's post was of interest. I will try to remember to delete my post in 24 hours.
|
|
|
Post by archer on Jan 9, 2024 22:56:33 GMT
For the past 1,3,4 and 6 months PDI is leading SPY. The 5 month chart shows it lagging, and the 2 month chart shows it lagging only by a slim margin. To me this shows PDI as a momentum play for TR, and if your'e into income, there's that too of course. I like funds that have lagged for a long time and doing more than a leading fund that doing well in the same time frame.
|
|
|
Post by Broozer on Jan 10, 2024 1:04:59 GMT
I will have been retired 3 years this coming April. My only income is SS and my portfolio. CE bond funds (all within a SEP) make up 32% of my total holdings (overall I'm 35 equity - 65 bonds/MM). My total PF value is still down about 6-7% from its January 2022 high, mostly from the CEFs.
Guess what? -- I don't care, I don't obsess over asset values. In almost 3 years I've not had to sell one single thing, my PF income continues to go up, and of the RMDs I have to take out probably 2/3 of it gets re-invested into my taxable account in other funds. I don't even have to take all the income to meet the RMDs, I've re-invested the monthly income of two CEFs that are down the most. My PF rate of return was up 7.05% in 2023.
So far so good. My biggest worry now is if I start getting senile in a few years (73 now) I won't be able to manage all this, which I've done since the beginning, so who will do it? Nobody in my family, probably have to hire it done which I will not like, but will probably have no choice. Broozer. Go to Lumosity.com and read what they have to offer about maintaining mental acuity as you age. I am near 82 and have a family history of Dementia and I still manage my finances successfully. The Lumosity program may not be for you, but I can attest to the fact that it has helped me maintain my brain. Interesting, thanks. By her late 70s, my mother was noticeably demented. She lived to be 86 and in her last few years she was like a little kid. My dad, died at 86 also, was not too bad. I already have trouble remembering names of famous people, names of towns or places, stuff like that.
Well, I'd better shut up -- this thread was supposed to be about PDI, which I have a stake in. I first bought PCI in 2019, which was then folded into PDI as everyone here is aware of.
I geared up for retirement for over 10 years, reading and learning more about bonds as I went, curious (and a bit nervous) about how to move from accumulation to withdrawals for the rest of my life. I stuck my toe in the water with PCI in '19 with a small percentage, first CEF I had ever owned; and now four CEFs are about 32% of my total PF, as previously noted. I don't see any reason to go higher than that, at least for the foreseeable future.
So, five years later, with 3 years of retirement/withdrawals under my belt -- everything is going fine.
|
|
|
Post by retiredat48 on Jan 10, 2024 4:12:42 GMT
For the past 1,3,4 and 6 months PDI is leading SPY. The 5 month chart shows it lagging, and the 2 month chart shows it lagging only by a slim margin. To me this shows PDI as a momentum play for TR, and if your'e into income, there's that too of course. I like funds that have lagged for a long time and doing more than a leading fund that doing well in the same time frame. archer,...I posted on a couple forums, many times in the past year, that I am willing to bet that PDI, in total return will beat any other fund of your choice after the next five years, including the S&P500 index funds. Got not takers, except a gentleman's bet from rhythmmethod (if memory is correct). R48
|
|
|
Post by Broozer on Jan 10, 2024 4:46:15 GMT
For the past 1,3,4 and 6 months PDI is leading SPY. The 5 month chart shows it lagging, and the 2 month chart shows it lagging only by a slim margin. To me this shows PDI as a momentum play for TR, and if your'e into income, there's that too of course. I like funds that have lagged for a long time and doing more than a leading fund that doing well in the same time frame. archer ,...I posted on a couple forums, many times in the past year, that I am willing to bet that PDI, in total return will beat any other fund of your choice after the next five years, including the S&P500 index funds. Got not takers, except a gentleman's bet from rhythmmethod (if memory is correct). R48 FD wouldn't take the bet???
|
|
|
Post by retiredat48 on Jan 10, 2024 5:23:10 GMT
archer ,...I posted on a couple forums, many times in the past year, that I am willing to bet that PDI, in total return will beat any other fund of your choice after the next five years, including the S&P500 index funds. Got not takers, except a gentleman's bet from rhythmmethod (if memory is correct). R48 FD wouldn't take the bet??? Nope. He was offered several times.
|
|
|
Post by Norbert on Jan 10, 2024 6:27:20 GMT
archer ,...I posted on a couple forums, many times in the past year, that I am willing to bet that PDI, in total return will beat any other fund of your choice after the next five years, including the S&P500 index funds. Got not takers, except a gentleman's bet from rhythmmethod (if memory is correct). R48 FD wouldn't take the bet??? FD might take the bet if you make it about the last five years. 🙄 So would I, now that I think about it: "Hey R48, I bet you a case of champagne that the S&P 500 beat PDI since 2018."
|
|
|
Post by chang on Jan 10, 2024 10:57:13 GMT
--Guilty of under-managing my own portfolio, while excelling at some others portfolios. I am embarrassed to say that my stepson's 2-fund portfolio, which I set up for him and on which I expended about 30 minutes effort during the year, well outperformed my vastly more sophisticated 20-fund portfolio which I monitor daily and have spent hundreds of hours crafting and tinkering with.
|
|
|
Post by richardsok on Jan 10, 2024 11:50:31 GMT
FD wouldn't take the bet??? Nope. He was offered several times. Trolling for a little reaction here, fellas? No, of course not. (PS: I wouldn't take the bet either.)
|
|