I won't be putting any of my Mum's money into Fisher Funds "highly creative" 8% dividend yield funds.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Warren Buffett has said it before and he'll say it again: Don't try and beat the market with pricey, actively-managed funds. You're better off with a boring, low-cost index fund.
Warren Buffett has said it before and he'll say it again: Don't try and beat the market with pricey, actively-managed funds. You're better off with a boring, low-cost index fund.
To expand Balances hypothesis an excellent book on this subject is A Random Walk Down Wall Street.
The author argues that asset prices typically exhibit signs of a random walk and in the long term actively managed funds often fail to outperform market averages.
Boop boop de do
Marilyn
Last edited by Marilyn Munroe; 30-04-2017 at 02:16 PM.
What I can't figure out is given they are invested in large cap stockss (outside NZ & Australia) if they sold all their holdings on Monday (and their holdings are not so large to move prices like say KFL or BRM) then they would achieve over $1.00 so why is the discount to share price so big?
What I can't figure out is given they are invested in large cap stockss (outside NZ & Australia) if they sold all their holdings on Monday (and their holdings are not so large to move prices like say KFL or BRM) then they would achieve over $1.00 so why is the discount to share price so big?
They aren't going to wind it up ...they wouldn't get any more fees ......
Yes good point but still think the discount is too big - its bigger than KFL when the reverse should apply?
Had a look at this. I think the Marlin portfolio is now being managed by an external fund manager, can't remember who ? but quite probably a better bet than local fund manager "expertise". Underlying investments look well spread and a 16-17% sizeable discount to NTA is right at the very top end of what I think is warranted. Possibly a bit cheap and a quick easy way to get exposure offshore and benefit from the potential for the $Kiwi to fall further. MLNWC warrants look interesting.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Originally Posted by Roger
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