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Post by Deleted on May 17, 2021 19:26:39 GMT
@r48 .... Can't help but show you recent Capecod comments, from the Seeking Alpha site where he is active as "Dick Cod", about pyramiding up: Dick Cod Yesterday, 3:55 PMThe sad truth about averaging down is that as your "greed increases" and you ignore the rationales of sellers, your wealth declines. That's seldom a wise investment strategy.Dick Cod Yesterday, 5:48 PM@spike Capital No....actually it depends on your dream about the stock. The way serious traders have made their bones and great investors their wealth is to average up into rising prices.Dick Cod Today, 8:29 AM@taipan I learned it in 25 years as a prop trader. If you don't learn it, you're not going to last more than about 6 months on a trading desk. Academic empirical studies cannot DARE to support most real world phenomena in traded markets because the recognition that prices are autocorrelated brings down the whole house of cards since Harry Markowitz......until the advent of behavioral finance which is still in early days and fighting for journal space.All of his comments there can be seen via seekingalpha.com/user/52216490/comments . He also makes good use of their "political" section. --- Frank
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Post by retiredat48 on May 17, 2021 21:50:36 GMT
Thanks Frank.
Actually, while he won't admit to the PU words, Capecod, (who has been adversarial towards me), has always done his investing in PYRAMID UP FASHION. He adamantly never averages down... he buys in buckets, on increasing prices.
Here are some other Capecod posts in my library, of him supporting Pyr Up investing:
-------------------------------------------------- Here is Capecod in his own words:
----------------------------------------------------
--I will add FI CEFs when stuff has bottomed and is starting up. Regards, Dick
--Phrog, you're a good guy. Don't fall into the feelgood "unrealized loss isn't a loss" nonsense. It's killed even more nice young traders than averaging down! Regards, Dick
-- Capecod, in his own words: 1/8/2013: Dollar cost averaging is the advice provided to retail investors by institutional traders whose First Iron Law of Survival is: NEVER ADD TO LOSERS.
Post #3151468 With global swap spreads blowing out a bit, I'm not buying anything back until it is going up. More fine young traders died averaging down than ......(pick your own rude close!).
Regards, Dick
Post #3689344 ...Agree....too many friends suffering with MLPs to be humorous, but these need to stop going down first, bounce then retest lows, and finally start up in earnest before I'll play (if then).
Regards, Dick
--------------------------------------------------------
my note: And you would be completely ignoring the vast majority of active mutual fund managers, who average-up into their winning stocks...and curtail losers.
Good day.
R48...Pyramid Up author
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Post by fishingrod on May 17, 2021 23:13:16 GMT
I think the concept of "pyramid up" has been around a long time, but more a tactic than a strategy. Tactics can be used by short term traders. I think it is used by short term traders and long term investors afraid to invest.
Another strategy for long term investing is to buy low and sell high. Buy and hold is another long term strategy which has produced
great results over decades producing many millionaires.
Some good articles for reference...
Fishingrod
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Post by retiredat48 on May 18, 2021 4:09:01 GMT
Another strategy for long term investing is to buy low and sell high.
R48 reply in bold...and just how is this done? Only way for sure I know is a Wil Rogers mantra: "I buy stocks that only go up; and if they don't go up, I don't buy them!"
Buy and hold is another long term strategy which has produced
great results over decades producing many millionaires.
You may not understand, but Pyramid Up is a BUY-IN Technique, not an investment strategy. I have used it to buy into certain Fidelity and Vanguard sector funds I have kept for decades, since fund inception--a great buy and hold outcome. The goal of Pyr Up is to meet Warren Buffett's two Rules of Investing: 1) Never lose money...and 2) Reread Rule 1.
Pyr Up gives me confidence to buy any stock mutual fund or ETF, at any time, under any market conditions.
R48 in bold
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Post by retiredat48 on May 18, 2021 4:10:43 GMT
BTW for some of you old-time posters...this just in from C. Mack:
"I was saddened to learn about the passing of David Swensen recently. (Age 67). The legendary, long-time manager of the Yale Endowment revolutionized the way endowments and other institutions invest, de-emphasizing stocks and bonds and redirecting funds to long-horizon alternative investments such as hedge funds, private equity, and tangible assets. He cared deeply about helping individuals invest successfully as well. We were honored to have him as a WEALTHTRACK exclusive for two episodes several years ago."
----------------------
R48
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Post by Norbert on May 18, 2021 7:17:56 GMT
If I know what I want to invest in, I want to buy it as cheaply as possible.
Per Buffett: "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful."
March 2020 is a perfect example. Why would I want to wait for others to drive the prices up?
Pyramid Up has been around for many decades. It's a momentum trading technique. And it certainly doesn't prevent losses! There's nothing stopping prices from declining below the initial purchase price.
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Post by rhythmmethod on May 18, 2021 11:54:30 GMT
I’m glad that pyramid up has worked for retiredat48, and many others. I use it sometimes myself. However can someone remind me when BUY THE DIP didn’t work, for any meaningful amount of time? I’m speaking regarding the broad market, not specific stocks or even sectors.
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Post by uncleharley on May 18, 2021 12:06:58 GMT
Buy the Dip will not work in a bear market. You will find yourself averaging down until the bear is dead or you are broke.
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Post by Norbert on May 18, 2021 12:22:06 GMT
No more Bear Markets! Politicians can't afford them.
And it's QE Forever now. 🙄
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Post by rhythmmethod on May 18, 2021 13:27:00 GMT
Buy the Dip will not work in a bear market. You will find yourself averaging down until the bear is dead or you are broke. When was the last time that didn’t work? I’m not being rhetorical. Certainly not last year. 2009 I bot until the devil 👿 666 then it went up. I guess my point is over time the market always goes up. How MUCH time is the question. I have yet to experience a decades long bear market.
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Post by Deleted on May 18, 2021 15:04:31 GMT
It is better to buy after a crash than a dip.
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Post by steadyeddy on May 18, 2021 15:57:23 GMT
It is better to buy after a crash than a dip. True.. but only a few crashes happen (typically) in one's investing lifetime. So BTD is the next best thing.
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Post by rhythmmethod on May 18, 2021 16:31:12 GMT
It is better to buy after a crash than a dip. True.. but only a few crashes happen (typically) in one's investing lifetime. So BTD is the next best thing. I say buy the dip, AND the crash. Always have Black on the left side of your ledger.
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Post by anitya on May 18, 2021 20:23:35 GMT
rhythmmethod , Do you mean, always hold some cash to BTD? In any case, I recently asked on a different thread about members' opinion about investing in COIN (Coinbase) as a diversified bet on crypto and I got no replies. I had posted a few months ago about how crypto are not green compliant and the green brigade might crash crypto prices. I still can not figure out the green revolution, given a number of green members are attracted to cryptos. Well, I bought COIN today at $238.75 in the last 10 minutes before the market close. Today's close held above yesterday's all-time low and today's low ($238.5) near the open. It is a combination of pyramid up and buying the dip, though it is the first buy! My next buy may be lower or higher than today's buy - difficult to predict because I do not know what the rest of the market might do and what the company might do. A lot of my mental trading rules do not comply with event driven price action. So, it is difficult to distill them into concepts.
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Post by uncleharley on May 18, 2021 20:40:55 GMT
OOPS! I forgot about Q E forever. That does make bear markets obsolete, or so they say.
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Post by rhythmmethod on May 18, 2021 20:53:03 GMT
Hi anitya , I was being a bit flippant. Yes, I'm old fashioned and still believe that cash is cash money. What you are describing sounds interesting but out of my comfort. I hope you keep us updated on the progress. Regarding my post; It seems that BTD has worked longer than I can remember it not working, especially over a period of 24 months. (Recently much shorter periods, however) So my super simplistic approach is to define funds/equities I believe in and have a marker of what I think their value is. When it goes below that, I buy. When it goes way below that I buy more yet. In order to do that I need to have a cash reservoir/ cash producing instruments with with to buy. Smarter people than I use charts to dictate in/out of market. I do watch VIX but probably use a high number to raise cash to buy more than cut as some posters do. I really think there are a lot of ways to be successful at investing as long as one sticks to a plan. My worst mistakes were when I broke from my plan to another at the worst time. This will all be great until I get smashed in the face...Take care!
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Post by retiredat48 on May 18, 2021 23:45:54 GMT
I’m glad that pyramid up has worked for retiredat48 , and many others. I use it sometimes myself. However can someone remind me when BUY THE DIP didn’t work, for any meaningful amount of time? I’m speaking regarding the broad market, not specific stocks or even sectors. You misrepresent PyrUp as not "buying the dip." Not so. I buy dips all the time. The key is that your purchase, in the dip, must be above your previous purchase; otherwise you are buying a downtrend. Consider this example. I buy a bucket of a fund at $10/share. It goes to 12.50. It then dips to $11. I buy a second bucket. The fund then goes to $15; then dips to $12.75...I buy more. This is PyrUp! A recent real life example. I posted that the day after Biden election, I bought a bucket of MJ, a marijuana etf, at about $12/share. I subsequently bought the remaining buckets at $13...then 14...then 15 and finally $16/share. Pyramid Up. MJ went into the twenties, when the reddit boys picked it to invest in. Drove the price to low thirties a share in a few days. Since sold off. I still hold it. Now consider if I (or anyone) had made a first bucket buy at $25/share, w/o Pyramid Up controls. It swiftly goes to $32, then falls back to $24/share. Oh, a dip, a better price...you buy more. Then it falls to $22.50...you buy more. Then it falls to $21.25...you buy more. Note look at MJ chart, as this is actual price movement). You are averaging down, a terrible practice. MJ recently went to below $20. This fund may level out at $16/share and stay there for years. What we do know is my Pyr Up buy of MJ is in a strong gain position. I can easily move to another fund. Your averaging down buy is in terrible shape, and from a behavioral standpoint, hard to exit. No one likes to take a loss. Dead money. This example is real life, real time. R48
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Post by rhythmmethod on May 19, 2021 0:38:40 GMT
I’m glad that pyramid up has worked for retiredat48 , and many others. I use it sometimes myself. However can someone remind me when BUY THE DIP didn’t work, for any meaningful amount of time? I’m speaking regarding the broad market, not specific stocks or even sectors. You misrepresent PyrUp as not "buying the dip." Not so. I buy dips all the time. The key is that your purchase, in the dip, must be above your previous purchase; otherwise you are buying a downtrend. Consider this example. I buy a bucket of a fund at $10/share. It goes to 12.50. It then dips to $11. I buy a second bucket. The fund then goes to $15; then dips to $12.75...I buy more. This is PyrUp! That puts it I context I can wrap my head around. Thanks for the further clarification.
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Post by anitya on May 19, 2021 2:07:26 GMT
For the average investor, individual stocks should not be bought on BTD if the stock price is in a general trend that is contrary to its sector or general market price trend. My foray into individual stocks is very recent - I am a fund investor.
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Post by rhythmmethod on May 19, 2021 14:09:54 GMT
I’m glad that pyramid up has worked for retiredat48 , and many others. I use it sometimes myself. However can someone remind me when BUY THE DIP didn’t work, for any meaningful amount of time? I’m speaking regarding the broad market, not specific stocks or even sectors. You misrepresent PyrUp as not "buying the dip." Not so. I buy dips all the time. The key is that your purchase, in the dip, must be above your previous purchase; otherwise you are buying a downtrend. Consider this example. I buy a bucket of a fund at $10/share. It goes to 12.50. It then dips to $11. I buy a second bucket. The fund then goes to $15; then dips to $12.75...I buy more. This is PyrUp! A recent real life example. I posted that the day after Biden election, I bought a bucket of MJ, a marijuana etf, at about $12/share. I subsequently bought the remaining buckets at $13...then 14...then 15 and finally $16/share. Pyramid Up. MJ went into the twenties, when the reddit boys picked it to invest in. Drove the price to low thirties a share in a few days. Since sold off. I still hold it. Now consider if I (or anyone) had made a first bucket buy at $25/share, w/o Pyramid Up controls. It swiftly goes to $32, then falls back to $24/share. Oh, a dip, a better price...you buy more. Then it falls to $22.50...you buy more. Then it falls to $21.25...you buy more. Note look at MJ chart, as this is actual price movement). You are averaging down, a terrible practice. MJ recently went to below $20. This fund may level out at $16/share and stay there for years. What we do know is my Pyr Up buy of MJ is in a strong gain position. I can easily move to another fund. Your averaging down buy is in terrible shape, and from a behavioral standpoint, hard to exit. No one likes to take a loss. Dead money. This example is real life, real time. R48 I did a little digging and contemplating of this. Thanks for the nudge. I believe I remember one of the alterations to PryUp is that sometimes there is "compelling value". Do I remember this correctly? Is there a metric to establish such or is it somewhat subjective? I mention this for a couple reasons. 1. I only own a few individual stocks, AAPL, MSFT, AMZN, O(which I bot last March) When I look at the price paid for subsequent purchases they are almost always with one or two exceptions a price higher than what I previously paid. So I realized that I was indeed PyrUp. 2. I also realized I should have bought more initially, in retrospect. I conclude that I am more inclined to buy based on "compelling value". I determine that by cross referencing M* fair value with the Barrons info. Not perfect but good enough for me. WRT CEFs (which I'm currently out of, but watching, I'll evaluate PDI, PCI and maybe another one or two by discount to NAV. I come to the conclusion, as of now, that highest quality products can better be evaluated by compelling value than sectors. Any comments welcome. I'm still evaluating. Take care.
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galeno
Commander
KISS & STC
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Post by galeno on May 19, 2021 14:45:47 GMT
If you look at the long term we're ALL practicing P-Up.
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Post by yogibearbull on May 19, 2021 15:10:18 GMT
R48 PyrUP is a system of step-wise buys and sells with some value twists. He has described its various steps before. Either one follows it, or one doesn't. Don't confuse it with other systems using the term "Pyramid", or other moving-average systems, or what traders do [pure momentum trading with real or mental hard-stops]. IMO, Warren Buffet, Capecod, etc don't follow PyrUP.
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Post by retiredat48 on May 19, 2021 19:55:30 GMT
You misrepresent PyrUp as not "buying the dip." Not so. I buy dips all the time. The key is that your purchase, in the dip, must be above your previous purchase; otherwise you are buying a downtrend... R48 I did a little digging and contemplating of this. Thanks for the nudge. I believe I remember one of the alterations to PryUp is that sometimes there is "compelling value". Do I remember this correctly? Is there a metric to establish such or is it somewhat subjective? I mention this for a couple reasons. R48 in bold: You are correct. The COMPELLING VALUE comes into play on making your FIRST bucket purchase. That is, Pyrup always starts after your first purchase. You may decide to make a first-buy for any reason.So in bear markets, a stock or fund may reach a point w/o going into an uptrend (usually confirmed by moving averages). Let's say the fund yield gets so compelling, you decide to purchase a bucket (1 of 5). You do so. I then suggest you do not make the second or more buys unless the fund is surely bottoming if not going upward. If it continues down, pause...quiz yourself as to why your compelling value was not so compelling? what is going on you do not see?? and so on.
BTW, after about six months of no action, you simply "start over." You don't sit waiting for years. Other opportunities exist. If your desired fund participated in a huge bear market, when it ends, you congratulate yourself for not having averaged down, and just start over with 5 buckets.1. I only own a few individual stocks, AAPL, MSFT, AMZN, O(which I bot last March) When I look at the price paid for subsequent purchases they are almost always with one or two exceptions a price higher than what I previously paid. So I realized that I was indeed PyrUp. You, and thousands of other mutual fund managers. They have to, with new money.
2. I also realized I should have bought more initially, in retrospect. I conclude that I am more inclined to buy based on "compelling value". I determine that by cross referencing M* fair value with the Barrons info. Not perfect but good enough for me. You follow the market much more closely than most. Sure, this can work. But...and a big but...each poster has to ask themselves: DID I PARTICIPATE IN THE LARGEST BULL MARKET IN HISTORY THIS LAST YEAR, APRIL 2020 TO NOW?? Did you stay out because you thought the market would test the March 2020 low? Did you buy any stock funds?? Did you slowly sell out some?? What behavior patterns did you exhibit?? Pyramid Up is intended to permit the investor to take action, without concern for huge losses. Assessing myself, I should have bought even more. But I did keep my asset allocation at above 50% equities, and expanded since April 2020. It paid off.
WRT CEFs (which I'm currently out of, but watching, I'll evaluate PDI, PCI and maybe another one or two by discount to NAV. I come to the conclusion, as of now, that highest quality products can better be evaluated by compelling value than sectors. Any comments welcome. I'm still evaluating. Take care. PurUp is used for STOCK based purchases...not bonds...so PDI and PCI are not under this umbrella. I buy these two (PCI and PDI) under "compelling value" themes...PyrUp not involved. But I am fully conscientious of their momentum.
R48 in bold.
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Post by rhythmmethod on May 19, 2021 20:06:11 GMT
retiredat48 , I appreciate your input. Much like I try to do with my music I borrow elements from all influences (you are one) and try to combine it with a system that can work for me. The answer to this: But...and a big but...each poster has to ask themselves: DID I PARTICIPATE IN THE LARGEST BULL MARKET IN HISTORY THIS LAST YEAR, APRIL 2020 TO NOW?? Did you stay out because you thought the market would test the March 2020 low? Did you buy any stock funds?? Did you slowly sell out some?? What behavior patterns did you exhibit?? Pyramid Up is intended to permit the investor to take action, without concern for huge losses. Assessing myself, I should have bought even more. But I did keep my asset allocation at above 50% equities, and expanded since April 2020. It paid off.I did a combination of clever and stupid moves, probably netting about to doing not much of anything. I am currently holding a lot more cash and almost no CEFs, unlike before. Those things are awesome to witness when they unwind. I've seen experienced investors and grown men on some of these boards crying like babies...I kept my crying private only into my pillow. Thanks for the feedback!
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Post by FD1000 on May 20, 2021 4:12:36 GMT
R48, I have heard of your system for over 10 years but it's not simple or doable or can be explained by anybody. You probably have at least 20 (maybe 30) holdings (ETFs,OEFs,CEFs+stocks). Then you play momentum as follows...if I can find a better similar fund I will switch. Then you play pyrup and sell using another pyramid. Then you look at value and more. You have to write a book to explain all the above. So, let's start. You have 20 positions. 1) You saw a better momentum fund X while you own Y. Do you sell all Y? Do you buy buckets of X? Are you in cash at any time since the price doesn't go up all the time. 2) You bought a bucket of X. The price keeps dropping. You can't buy another bucket and X keeps going down. You found a better fund Z. Are you selling X to buy Z? I can see at least 12 buckets floating in the air among 20 positions and the best clowns in Cirque du Soleil can't do 12 buckets at one time. 3) You have been telling us you were holding VWELX since 1921 1953?, well VWELX is trailing PRWCX for over 20 years ( chart). How come you still own VWELX? 4) You held energy for years while it was one of the worse categories, what happened? I'm sure the SP500 was better during these years. 5) You said you sell in market meltdown. How much did you lose in March 2020 and what was your asset allocation. I had zero lose and 100% cash. 6) There is no way to hold long term these funds without switching...unless you have more rules This is what I believe in: 1) I own only several funds(in the last several years 2-3 funds), I switch a lagging fund with a better performing fund. I do the whole amount. 2) Until 2013 I was just in all the time. Only later I started to employ the max loss from the top PER EACH FUND. 3) Suppose I sold to cash in a market meltdown and want to buy back as I did at the end of March 2020. I don't buy falling knives, I wait for the rebound and use T/A when to start buying. Then, I did start buying, but one fund went down again, I sold it immediately, within a week I started buying again, this time it was all good, and within a short period I was fully invested at 99%.
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Post by chang on May 20, 2021 5:05:05 GMT
I think R48's approach is simply a "buy in" or cash deployment strategy. It does not purport to incorporate asset allocation or valuation or actual trend/momentum analysis, which I think are associated actions to be carried out separately. So I think you are reading too much into it.
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Post by retiredat48 on May 20, 2021 7:04:55 GMT
I think R48's approach is simply a "buy in" or cash deployment strategy. It does not purport to incorporate asset allocation or valuation or actual trend/momentum analysis, which I think are associated actions to be carried out separately. So I think you are reading too much into it. +1
BTW it must be a cold day in hell today.You see, some posters said it would be a cold day in hell before Capecod sees "eye to eye" with me. However, today, the Fidelity Forum poster, "dickoncapecod", gave me a formal kudo on a post I made. Peace exists there. Thanks Dick... R48
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Post by FD1000 on May 20, 2021 12:56:41 GMT
I think R48's approach is simply a "buy in" or cash deployment strategy. It does not purport to incorporate asset allocation or valuation or actual trend/momentum analysis, which I think are associated actions to be carried out separately. So I think you are reading too much into it. +1
BTW it must be a cold day in hell today.You see, some posters said it would be a cold day in hell before Capecod sees "eye to eye" with me. However, today, the Fidelity Forum poster, "dickoncapecod", gave me a formal kudo on a post I made. Peace exists there. Thanks Dick... R48 I have been reading R48 post for 12-13 years and he said many times he uses valuation, momentum, and switching from one fund to another when he sees better performance. R48 has been posting about Pyrup and similar system of selling and it's a small part of many other rules. When you have a system all the parts work together. There is no way to hold a fund that is lagging for years when another known fund in the same category is better and claim the above. Example: if you had fund X and then fund Y is better, you start buying buckets of fund Y. Then, if you are in bucket 2 for several months, then you are in cash,but, if fund Z is better then you must switch to fund Z. A kudo says I agree with you on that point not on every point. BTW, Dick asked for my advice on what other bond OEFs to use with his cash when he is not in CEFs or PIMIX. I gave you many kudos over the years because I agree with you on several points.
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Post by retiredat48 on May 20, 2021 14:22:15 GMT
+1
BTW it must be a cold day in hell today.You see, some posters said it would be a cold day in hell before Capecod sees "eye to eye" with me. However, today, the Fidelity Forum poster, "dickoncapecod", gave me a formal kudo on a post I made. Peace exists there. Thanks Dick... R48 I have been reading R48 post for 12-13 years and he said many times he uses valuation, momentum, and switching from one fund to another when he sees better performance. R48 has been posting about Pyrup and similar system of selling and it's a small part of many other rules. When you have a system all the parts work together. There is no way to hold a fund that is lagging for years when another known fund in the same category is better and claim the above. Example: if you had fund X and then fund Y is better, you start buying buckets of fund Y. Then, if you are in bucket 2 for several months, then you are in cash,but, if fund Z is better then you must switch to fund Z. A kudo says I agree with you on that point not on every point. BTW, Dick asked for my advice on what other bond OEFs to use with his cash when he is not in CEFs or PIMIX. I gave you many kudos over the years because I agree with you on several points. Yes FD, I acknowledge you have given many kudos, and I get useful info from you, especially you are my #1 source for fixed income/bond funds. But why do you intermix investing strategy of using valuation, momentum and (occasional) switching of funds, with Pyramid Up, a BUY-IN technique briefly used to make such purchases. And BTW PU is not used in 401.K investing, as this is dollar cost averaging small sums, continuously, which also has advantages. And no, I do not switch very often from one fund, seeking the continuous top performing fund. In fact, I trade or exchange very little. Yes, I tend to not hold truly "lagging" funds, but also do not seek the top funds. In fact, this is partly based on studies that show up to 90% of portfolio performance is in asset allocation, not fund selection. But I couldn't resist, and bought into MJ (marijuana companies) etf the day after Biden elected and 6 states voted in use of mj. My kids congratulate me on this, even though I have never smoked, or had a drug, in my life. R48
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Post by FD1000 on May 21, 2021 17:09:27 GMT
I have been reading R48 post for 12-13 years and he said many times he uses valuation, momentum, and switching from one fund to another when he sees better performance. R48 has been posting about Pyrup and similar system of selling and it's a small part of many other rules. When you have a system all the parts work together. There is no way to hold a fund that is lagging for years when another known fund in the same category is better and claim the above. Example: if you had fund X and then fund Y is better, you start buying buckets of fund Y. Then, if you are in bucket 2 for several months, then you are in cash,but, if fund Z is better then you must switch to fund Z. A kudo says I agree with you on that point not on every point. BTW, Dick asked for my advice on what other bond OEFs to use with his cash when he is not in CEFs or PIMIX. I gave you many kudos over the years because I agree with you on several points. Yes FD, I acknowledge you have given many kudos, and I get useful info from you, especially you are my #1 source for fixed income/bond funds. But why do you intermix investing strategy of using valuation, momentum and (occasional) switching of funds, with Pyramid Up, a BUY-IN technique briefly used to make such purchases. And BTW PU is not used in 401.K investing, as this is dollar cost averaging small sums, continuously, which also has advantages. And no, I do not switch very often from one fund, seeking the continuous top performing fund. In fact, I trade or exchange very little. Yes, I tend to not hold truly "lagging" funds, but also do not seek the top funds. In fact, this is partly based on studies that show up to 90% of portfolio performance is in asset allocation, not fund selection. But I couldn't resist, and bought into MJ (marijuana companies) etf the day after Biden elected and 6 states voted in use of mj. My kids congratulate me on this, even though I have never smoked, or had a drug, in my life. R48 There is no way to hold long term and not have lagging funds. I know your energy fund lagged for years. The SP500 made a lot more money than emerging between 2010-2020 with lower volatility. I held 3 funds(SGIIX,OAKBX,FAIRX) out of 5 funds in 8 out of 10 years during 2000-2010, they made over 10% annually (I made only 9%) while the SP500 lost money for 10 years.BTW, I'm not talking making more money using stocks and or funds with very high SD/reward, I'm actually talking about making money with similar volatility or lower but better performance and why risk-adjusted and Sharpe are important. BTW, I based my system on Buffett 3 rules: 1) never lose money 2) Don't forget rule # 1 3) Diversification is a protection against ignorance. "studies that show up to 90% of portfolio performance is in asset allocation, not fund selection" I bag the difference, I have been doing it over 20 years. If you believe in studies than you should only use buy and hold Bogle style, the studies proved that most investors do better with B&H Are you a buy and hold investor? 401K: It's true that you invest in 401K over several decades and don't need Pyrup but you are also retired several decades too and why you should use PyrUp if you believe in it. CEFs: Leveraged CEFs have similar risk/reward to stocks so again, if PyrUp is such a good tool why not use it? Did you PyrUp when you bought MJ? Why not? You still didn't explain how you actually implement selling one fund and buying another using PyrUp.
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