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Mark Freeland
Guest
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 Posted:
Fri Sep 23, 2005 8:00 am Post subject:
Re: When to get out |
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I wrote wrote:
| Quote: |
"Steven L." <sdlitvin@earthlinkNOSPAM.net> wrote in message
news:a0HUe.8603$Wd7.5935@newsread1.news.pas.earthlink.net...
Mark Freeland wrote:
[...]
1. 5 year performance in bottom decile for its category. 3 year
performance bottom decile, 1 year and YTD - don't ask (even worse).
Bottom 1/3 in each year since 2001. Same manager since inception,
with solid record in the previous century.
I would have sold by now.
So would I. The fund, Weitz Value, was named Morningstar's "pick of
the week" on CNBC last Friday! I cannot understand Morningstar's
fascination with this fund - yes, it is heavily into media and telecom
(as well as one of traditional value funds' favorites - financials),
which is why it is having such problems, but that's been the
manager's choice for years - this is not a sector fund.
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Number 10 on Forbes 2005 list of "The Ten Very Best Funds" is the
semi-clone of this fund (with nearly identical record, except bottom
1/4, not bottom 1/3 each year since 2001) - Weitz Partners Value. That
fund made Forbes' list for the third straight year, and Weitz Value just
missed in 2005 (which would have made six times in a row).
Is a ten year record that important, when the past five years have all
been disasters? What are these "experts" seeing?! How could they
praise a fund (presumably for expected future success) in 2000, see it
fall to bottom quartile, praise it again in 2001, see it sit in bottom
quartile, praise it again in 2002, lather and repeat three more times?
http://www.forbes.com/free_forbes/2005/0919/208.html
--
Mark Freeland
nNeEwTs@sonic.net
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Ed
Guest
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| Posted:
Fri Sep 23, 2005 2:31 pm Post subject:
Re: When to get out |
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"Mark Freeland" <nNeEwTs@sonic.net> wrote
| Quote: | Is a ten year record that important, when the past five years have all
been disasters? What are these "experts" seeing?! How could they
praise a fund (presumably for expected future success) in 2000, see it
fall to bottom quartile, praise it again in 2001, see it sit in bottom
quartile, praise it again in 2002, lather and repeat three more times?
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I think Wally was getting his share of angry callers.
http://www.weitzfunds.com/specialnote/ResponsetoShareholderQuestions8-2005.asp |
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Ed
Guest
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| Posted:
Fri Sep 23, 2005 4:01 pm Post subject:
Re: When to get out |
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"jIM" <noreplysoccer@hotmail.com> wrote
| Quote: | this was the first I heard about the PRWCX manager change. Similar to
what was mentioned, I would exit and buy PRFDX (equity Income) in it's
place if it underperformed (lost money). Unless I can find a similar
fund and switch custodians of my Roth Holdings at TRP to this new fund.
switching fund families is not the method I prefer.
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OAKBX is constucted a little differently than PRWCX but it would be a great
alternative. We own both of these.
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jIM
Guest
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| Posted:
Fri Sep 23, 2005 4:01 pm Post subject:
Re: When to get out |
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this was the first I heard about the PRWCX manager change. Similar to
what was mentioned, I would exit and buy PRFDX (equity Income) in it's
place if it underperformed (lost money). Unless I can find a similar
fund and switch custodians of my Roth Holdings at TRP to this new fund.
switching fund families is not the method I prefer. |
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jIM
Guest
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| Posted:
Fri Sep 23, 2005 11:13 pm Post subject:
Re: When to get out |
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the returns look good, but fund also looks similar to prfdx (income
thru dividends, some bond holdings). I like prwcx because it does own
some mid cap and convertibles. I don't think I own convertibles thru
other funds, and most of my mid cap holdings are growth and prwcx has a
value slant to it.
thoughts? |
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Ed
Guest
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| Posted:
Fri Sep 23, 2005 11:26 pm Post subject:
Re: When to get out |
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"jIM" <noreplysoccer@hotmail.com> wrote
| Quote: | the returns look good, but fund also looks similar to prfdx (income
thru dividends, some bond holdings). I like prwcx because it does own
some mid cap and convertibles. I don't think I own convertibles thru
other funds, and most of my mid cap holdings are growth and prwcx has a
value slant to it.
thoughts?
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Yup. If you want mid caps and convertibles there are some very good funds
that will accommodate you. I love mid caps and do own TRP Mid Cap Value. |
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