Good Funds to hold for a long time.

[adesigar]

Someone I know is rolling over a 401k into an IRA.

 

The funds I recommended were

US - FAIRX, BRUFX, LLPFX, GOODX, YACKX, FPACX, DODGX, FLPSX, FCNTX.

International - WGRNX, SGENX, DODFX, OAKIX.

 

Does anyone know of any other good funds? Especially international funds.

 

Thanks.

 

[rpadebet]

Someone I know is rolling over a 401k into an IRA.

 

The funds I recommended were

US - FAIRX, BRUFX, LLPFX, GOODX, YACKX, FPACX, DODGX, FLPSX, FCNTX.

International - WGRNX, SGENX, DODFX, OAKIX.

 

Does anyone know of any other good funds? Especially international funds.

 

Thanks.

 

Tweedy Browne funds are pretty good for international exposure

[randomep]

 

Third Avenue?

[Guest]

SEQUX has an awesome track record, but it's closed now.

[cubsfan]

A small & relatively new international fund I hold:

 

FPIVX - First Pacific Advisors International Fund

 

Domestic Funds - FAIRX, FPACX

[Guest wellmont]

i like prospector funds.

[Guest]

A pretty hardcore "absolute" value fund is PVFIX. Though, be warned, it doesn't have a great long term track record (against its peers) but holds up really well during downturns.

 

Oh, I hear the Corner Market Capital fund is pretty good, too. ;)

[jay21]

DoubleLine for bonds?  It appears Gundlach has done a good job navigating the credit cycle.

[gjangal]

AKREX is good fund. Its run by Chuck Akre who ran the FBR focus fund. The fund primarily concentrates in companies that have good ROIC, FCF and revenue prospects

 

His 13-F filings have been a good source of ideas for me

[CorpRaider]

Here here on Akre, wish his mgmt fee was a little lower though.  Let me plug Dan Fuss @ Loomis Sayles for fixed income too.  He doesn't do the macro stuff like Gundlach and Gross.  Applies more of a credit analysis/value manager Grahamian strategy and has performed well.  He is getting long in the tooth though.

[Guest]

Here here on Akre, wish his mgmt fee was a little lower though.  Let me plug Dan Fuss @ Loomis Sayles for fixed income too.  He doesn't do the macro stuff like Gundlach and Gross.  Applies more of a credit analysis/value manager Grahamian strategy and has performed well.  He is getting long in the tooth though.

 

One could also do the institutional shares - AKRIX. It has a $250,000 minimum.

[jay21]

Here here on Akre, wish his mgmt fee was a little lower though.  Let me plug Dan Fuss @ Loomis Sayles for fixed income too.  He doesn't do the macro stuff like Gundlach and Gross.  Applies more of a credit analysis/value manager Grahamian strategy and has performed well.  He is getting long in the tooth though.

 

I am starting to do some digging on Gundlach and I wouldn't say he is doing macro.  Since the credit crisis he has an almost barbellish portfolio that mixes non agencies (credit sensitive) and agencies (non credit sensitive), which can offset inflation and deflation scenarios. 

 

He also says he doesn't try to predict rates.  Although, I think he will occasionally add an inverse IO or support bond if he thinks rates/prepayments have over shot and they offer good relative value. 

 

I am trying to look for a good HY fund (I'm thinking closed end to avoid redemption issues) to invest in for the next inevitable down cycle.

[TwoCitiesCapital]

Here here on Akre, wish his mgmt fee was a little lower though.  Let me plug Dan Fuss @ Loomis Sayles for fixed income too.  He doesn't do the macro stuff like Gundlach and Gross.  Applies more of a credit analysis/value manager Grahamian strategy and has performed well.  He is getting long in the tooth though.

 

I am starting to do some digging on Gundlach and I wouldn't say he is doing macro.  Since the credit crisis he has an almost barbellish portfolio that mixes non agencies (credit sensitive) and agencies (non credit sensitive), which can offset inflation and deflation scenarios. 

 

He also says he doesn't try to predict rates.  Although, I think he will occasionally add an inverse IO or support bond if he thinks rates/prepayments have over shot and they offer good relative value. 

 

I am trying to look for a good HY fund (I'm thinking closed end to avoid redemption issues) to invest in for the next inevitable down cycle.

 

I like Gundlach a lot. I had a large piece of my portfolio in DBLTX not too long ago and it did 10% with minimal volatility the first year. Was nearly flat for me through June 2013ish when I switched into his CHEfs that were then trading at 7-10% discounts with 7-8% yields. Those have done well too. DSL still has a 5% discount and a fat yields but is certainly more volatile.

 

DBLTX does follow a barbell strategy. I haven't tried to dissect DSL strategy too much but I know a large chunk of it is dollar denominated foreign high yield and that its 40% leveraged.

[CorpRaider]

Here here on Akre, wish his mgmt fee was a little lower though.  Let me plug Dan Fuss @ Loomis Sayles for fixed income too.  He doesn't do the macro stuff like Gundlach and Gross.  Applies more of a credit analysis/value manager Grahamian strategy and has performed well.  He is getting long in the tooth though.

 

I am starting to do some digging on Gundlach and I wouldn't say he is doing macro.  Since the credit crisis he has an almost barbellish portfolio that mixes non agencies (credit sensitive) and agencies (non credit sensitive), which can offset inflation and deflation scenarios. 

 

He also says he doesn't try to predict rates.  Although, I think he will occasionally add an inverse IO or support bond if he thinks rates/prepayments have over shot and they offer good relative value. 

 

I am trying to look for a good HY fund (I'm thinking closed end to avoid redemption issues) to invest in for the next inevitable down cycle.

 

May be semantics.  My impression is that he's analyzing the various classes of debt instruments and their relative merit based on his predictions of the larger trends everytime I hear him talk.  For example he loves dollar denominated emerging market debt given the relative values and his predictions for currencies, etc.  I've heard him speak on t-rate predictions a fair amount lately, but he's usually contrarian and value based from a larger perspective, but what I mean is he's not going through and saying this intel or chesapeake bond is priced at X and I think the credit is going to hold up better than the market does or strengthen because of Y operationally, which is more akin to what Fuss does.  He's an old credit analyst like Ben Graham (and myself).  I have money with both.

[BG2008]

For those that have the ability to assess young fund managers, I would imagine that a younger, hungrier, startup fund manager would outperform.  If one examines Buffet, Watsa, or any of the successful fund managers today, their returns earlier on were much higher with a smaller amount of AUM.  However, this introduce an element of selection bias as you assume that you rightfully picked Buffet, Watsa, etc. 

 

However, I know a dozen of young managers who survived 2008/2009 and have compounded at CAGR of ~20% from inception.  It forces me to think that they are not as rare as one thinks.  But one does need to dig around and get to know them well. 

[fareastwarriors]

Make sure to check out the Chou America funds as well.

[bookie71]

I second the Chou funds.

[Guest]

This is why people should index. Out of all of the funds mentioned in this thread - two beat the S&P 500 - Contrafund and Akre. A couple of the international funds and Gundlach's fund did pretty well against their respective indexes though. Yeah, I know it's been only 4 years but still. We're looking at 2 out of 17 funds or so that beat a simple index. Some of these performed horribly.

[LC]

For passive investing there are two options: Berkshire or Index funds.

[Gregmal]

For passive investing there are two options: Berkshire or Index funds.

 

At this stage in the game I'd add GOOG to that. They are so stealthily diversified in terms of future home runs and involvement in major trends its unreal. BRK to me, at this point largely relies on the glory of past decades and the auro of Buffett and Munger. 10 years, heck 5  years from now I'm not so sure it's profile carries the same luster. I'd even go as far as to describe it as a wonderful collection of great Old Economy companies. I'd be almost certain it doesn't beat GOOG over that time frame. Frankly I don't care if it beats the S&P as thats never been a metric I've found useful.