Comments for InvestingMinds Articles http://www.investingminds.com/a Financial articles from the InvestingMinds team Tue, 02 Dec 2008 21:42:17 +0000 http://wordpress.org/?v=2.5.1 Comment on American Depositary Receipts by resort in sun valley idaho http://www.investingminds.com/a/2008/08/29/american-depositary-receipts/#comment-402 resort in sun valley idaho Wed, 24 Sep 2008 07:03:29 +0000 http://www.investingminds.com/a/?p=112#comment-402 <strong>resort in sun valley idaho...</strong> I discovered your site on faves.com bookmarking site…I like it and gave it a fave for you, I’ll be checking back regularly... resort in sun valley idaho…

I discovered your site on faves.com bookmarking site…I like it and gave it a fave for you, I’ll be checking back regularly…

]]> Comment on American Depositary Receipts by Retirement Invitations http://www.investingminds.com/a/2008/08/29/american-depositary-receipts/#comment-399 Retirement Invitations Tue, 23 Sep 2008 22:39:01 +0000 http://www.investingminds.com/a/?p=112#comment-399 <strong>Retirement Invitations...</strong> Your blog makes very interesting reading. I'm sure others will think so too I look forward to reading their comments.... Retirement Invitations…

Your blog makes very interesting reading. I’m sure others will think so too I look forward to reading their comments….

]]> Comment on Starting an Investment Club by evista alta http://www.investingminds.com/a/2007/05/07/start-an-investment-club/#comment-394 evista alta Sat, 20 Sep 2008 08:28:08 +0000 http://beta.investingminds.com/a/2007/05/07/start-an-investment-club/#comment-394 evista windows <a href="http://www.al.com/forums/profile.ssf?nickname=blake862" rel="nofollow">evista lcars</a> evista windows evista lcars

]]> Comment on American Depositary Receipts by U S Bank Retirement http://www.investingminds.com/a/2008/08/29/american-depositary-receipts/#comment-391 U S Bank Retirement Wed, 17 Sep 2008 19:48:00 +0000 http://www.investingminds.com/a/?p=112#comment-391 <strong>U S Bank Retirement...</strong> I don't mean to be too in your face, but I'm not sure I agree with this. Anyhow, thanks for sharing and I think I'll come to this blog more often.... U S Bank Retirement…

I don’t mean to be too in your face, but I’m not sure I agree with this. Anyhow, thanks for sharing and I think I’ll come to this blog more often….

]]> Comment on The Myth of Dollar Cost Averaging by What’s Your Long-Term Investing Strategy? | Sushi Money http://www.investingminds.com/a/2007/05/13/the-myth-of-dollar-cost-averaging/#comment-380 What’s Your Long-Term Investing Strategy? | Sushi Money Fri, 05 Sep 2008 14:34:47 +0000 http://beta.investingminds.com/a/2007/05/13/the-myth-of-dollar-cost-averaging/#comment-380 [...] many financial professionals disagree (here, here and here) and see lump sum or other investing styles as better alternatives.  They argue that a lump sum [...] [...] many financial professionals disagree (here, here and here) and see lump sum or other investing styles as better alternatives.  They argue that a lump sum [...]

]]> Comment on Understanding Closed End Fund Discounts by Judson Morrison http://www.investingminds.com/a/2008/02/16/understanding-closed-end-fund-discounts/#comment-303 Judson Morrison Fri, 23 May 2008 17:36:50 +0000 http://www.investingminds.com/a/2008/02/16/understanding-closed-end-fund-discounts/#comment-303 One might also consider further "human" elements in this situation. Stockbrokers who sell open end mutual funds will receive steady commission income without any regulatory problems. Stockbrokers who sell an equivalent closed end mutual fund at a discount will only receive a one time commission. No one has a vested interest in pushing these products. Therefore any fund which has net sellers for any length of time will probably persist in trading at a discount. Also, I'd like to point out that these differences can be "arbitraged" away by an investor of any size. One can buy enough closed end shares to wage a proxy battle for the fund to liquidate some of the portfolio and repurchase closed end shares. (I believe the Bulldog fund does this.) One might also consider further “human” elements in this situation. Stockbrokers who sell open end mutual funds will receive steady commission income without any regulatory problems. Stockbrokers who sell an equivalent closed end mutual fund at a discount will only receive a one time commission. No one has a vested interest in pushing these products. Therefore any fund which has net sellers for any length of time will probably persist in trading at a discount.

Also, I’d like to point out that these differences can be “arbitraged” away by an investor of any size. One can buy enough closed end shares to wage a proxy battle for the fund to liquidate some of the portfolio and repurchase closed end shares. (I believe the Bulldog fund does this.)

]]> Comment on Starting an Investment Club by Internet Investing http://www.investingminds.com/a/2007/05/07/start-an-investment-club/#comment-302 Internet Investing Tue, 20 May 2008 06:07:54 +0000 http://beta.investingminds.com/a/2007/05/07/start-an-investment-club/#comment-302 A disciplined, unemotional approach to stock investing is the most efficient method of portfolio management. Use objective metrics to save time in selecting the best stocks to buy and decide when to sell. A disciplined, unemotional approach to stock investing is the most efficient method of portfolio management. Use objective metrics to save time in selecting the best stocks to buy and decide when to sell.

]]> Comment on The More Things Change, the More They Stay the Same by How much money do I need » Blog Archive » The More Things Change, the More They Stay the Same http://www.investingminds.com/a/2008/03/19/the-more-things-change-the-more-they-stay-the-same/#comment-284 How much money do I need » Blog Archive » The More Things Change, the More They Stay the Same Thu, 20 Mar 2008 16:21:20 +0000 http://www.investingminds.com/a/2008/03/19/the-more-things-change-the-more-they-stay-the-same/#comment-284 [...] John Jansen wrote an interesting post today onHere’s a quick excerptBut the real difference is not stock performance but rather bond performance—bonds did much better after 1980 than they did before. Because of this, the equity premium since 1980 has actually been less than the longer-term average, … [...] [...] John Jansen wrote an interesting post today onHere’s a quick excerptBut the real difference is not stock performance but rather bond performance—bonds did much better after 1980 than they did before. Because of this, the equity premium since 1980 has actually been less than the longer-term average, … [...]

]]> Comment on Understanding Closed End Fund Discounts by Glenn Henricksen http://www.investingminds.com/a/2008/02/16/understanding-closed-end-fund-discounts/#comment-233 Glenn Henricksen Thu, 06 Mar 2008 01:31:39 +0000 http://www.investingminds.com/a/2008/02/16/understanding-closed-end-fund-discounts/#comment-233 I don't buy the argument that its the present value of the management fees that creates a discount of NAV. It could be a factor, albiet small one since if the fund value shrinks, the expenses become a bigger factor relative to asset base. A good manager, however, shoudl alleviate much of this problem and conversion of small fnds is possible creating a floor on asset values for the better managed fund complexes. I think that like write Brian Miller, there are so liquidity factors that affect prices. Some assets cannot be purchased elsewhere. These may create premiums where there are fewer other options to purchase these markets. Discounts, however, are more troublesome. Some discounts can be attributable to a lack of imformation. Other reasons can be that during the underwriting, dealers take a big cut up front causing underperformance the first few year burning many investors and causing them to shun them. Taxes also play a role. Some discounts are created by tax loss selling where as the underlying assets decline in value, and the price falls, that people sell to take tax losses driving discounts even wider. I made lots of money 1999-2000 in fixed income funds where discounts to NAV ran up to as high as 20% as NAV's fell in a terrible fixed income markets. These largely bounced back nicely. I don’t buy the argument that its the present value of the management fees that creates a discount of NAV. It could be a factor, albiet small one since if the fund value shrinks, the expenses become a bigger factor relative to asset base. A good manager, however, shoudl alleviate much of this problem and conversion of small fnds is possible creating a floor on asset values for the better managed fund complexes.

I think that like write Brian Miller, there are so liquidity factors that affect prices. Some assets cannot be purchased elsewhere. These may create premiums where there are fewer other options to purchase these markets. Discounts, however, are more troublesome.

Some discounts can be attributable to a lack of imformation. Other reasons can be that during the underwriting, dealers take a big cut up front causing underperformance the first few year burning many investors and causing them to shun them.

Taxes also play a role. Some discounts are created by tax loss selling where as the underlying assets decline in value, and the price falls, that people sell to take tax losses driving discounts even wider. I made lots of money 1999-2000 in fixed income funds where discounts to NAV ran up to as high as 20% as NAV’s fell in a terrible fixed income markets. These largely bounced back nicely.

]]> Comment on Make Your Money Last Through Retirement…Avoid this very common mistake by jimsotonna http://www.investingminds.com/a/2007/08/09/make-your-money-last-through-retirementavoid-this-very-common-mistake/#comment-219 jimsotonna Mon, 03 Mar 2008 05:56:39 +0000 http://www.investingminds.com/a/2007/08/09/make-your-money-last-through-retirementavoid-this-very-common-mistake/#comment-219 <strong>jimsotonna...</strong> jimsotonna dropped by... jimsotonna…

jimsotonna dropped by…

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