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Monty Claret
Posted: 07 May 2022 14:08:00(UTC)
#21

Joined: 24/05/2015(UTC)
Posts: 294
DIY Investing;221788 wrote:
The problem with these global actives is that they have to concentrate in the fan favourites in order to get capital inflows. So you'll always see lots of US top 10 S&P holdings like amazon, Microsoft etc. Basically they will be full of whatever everyone else is buying which is fine until everyone else starts selling and buying something else.

And I think looking at 5 year performance is pointless. All it tells us is how something has performed during the current cycle and tells us nothing about how they'll do when things change. But now we know!

For large/mid cap developed World blend, I'd go with something like Fidelity Index World, or VEVE/VHVG. I think its always going to be a good time to rotate into this kind of thing.


Without wishing to hi jack this thread, if PNL has Microsoft as it’s largest equity holding and Google second I can not see Sebastian holding them because they are “fan favourites”.

Maybe that’s for another discussion!
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DIY Investing
Posted: 07 May 2022 14:22:31(UTC)
#22

Joined: 29/09/2018(UTC)
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Monty Claret;221792 wrote:
DIY Investing;221788 wrote:
The problem with these global actives is that they have to concentrate in the fan favourites in order to get capital inflows. So you'll always see lots of US top 10 S&P holdings like amazon, Microsoft etc. Basically they will be full of whatever everyone else is buying which is fine until everyone else starts selling and buying something else.

And I think looking at 5 year performance is pointless. All it tells us is how something has performed during the current cycle and tells us nothing about how they'll do when things change. But now we know!

For large/mid cap developed World blend, I'd go with something like Fidelity Index World, or VEVE/VHVG. I think its always going to be a good time to rotate into this kind of thing.


Without wishing to hi jack this thread, if PNL has Microsoft as it’s largest equity holding and Google second I can not see Sebastian holding them because they are “fan favourites”.

Maybe that’s for another discussion!


Well you've got to have some fan favourites if your are running an all weather. Otherwise its just a bear fund. These holdings are offset with a shed load of TIPS and Gold!
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Monty Claret on 07/05/2022(UTC), Sheerman on 07/05/2022(UTC)
King Lodos
Posted: 07 May 2022 19:18:36(UTC)
#23

Joined: 05/01/2016(UTC)
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I always say the market has no memory .. The only reality is how much exposure you choose to have to growth funds today.

Growth bounces back if inflation and rates head back down .. No one knows if they will .. So the easiest would be just to rotate everything passive .. You'll still have your growth exposure, but it'll be balanced with everything else.

The other risk is if stocks have a really bad 10-20 years .. But like PNL, you want to hold some growth, and some recession stuff .. Some inflation and some deflation stuff .. Never a bad time to be more balanced .. One outcome will prove correct, but balance is the only way to avoid being 100% right, or 100% wrong
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5 users thanked King Lodos for this post.
countrymum on 07/05/2022(UTC), Bry Hay on 07/05/2022(UTC), Guest on 08/05/2022(UTC), Monty Claret on 08/05/2022(UTC), Chans on 10/05/2022(UTC)
Lindisfarne
Posted: 07 May 2022 19:35:31(UTC)
#24

Joined: 27/06/2014(UTC)
Posts: 813
King Lodos;221835 wrote:
I always say the market has no memory .. The only reality is how much exposure you choose to have to growth funds today.

Growth bounces back if inflation and rates head back down .. No one knows if they will .. So the easiest would be just to rotate everything passive .. You'll still have your growth exposure, but it'll be balanced with everything else.

The other risk is if stocks have a really bad 10-20 years .. But like PNL, you want to hold some growth, and some recession stuff .. Some inflation and some deflation stuff .. Never a bad time to be more balanced .. One outcome will prove correct, but balance is the only way to avoid being 100% right, or 100% wrong



Can you please give some examples of:-

"some recession stuff .. Some inflation and some deflation stuff"
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Lindisfarne
Posted: 12 December 2022 17:04:40(UTC)
#25

Joined: 27/06/2014(UTC)
Posts: 813
This Year is looking to be a disaster. Down over 20% after today.
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Thrugelmir
Posted: 12 December 2022 17:16:40(UTC)
#26

Joined: 01/06/2012(UTC)
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Lindisfarne;250527 wrote:
This Year is looking to be a disaster. Down over 20% after today.


The disaster was not to start exiting earlier. Still up around 60% over 5 years. Human greed always wants a little more of the pie.
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Lindisfarne on 12/12/2022(UTC)
Mr Spock
Posted: 12 December 2022 20:24:20(UTC)
#38

Joined: 19/07/2019(UTC)
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Despite ample stock rotation. Time to buy in again?
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Lindisfarne on 12/12/2022(UTC)
smg8
Posted: 12 December 2022 20:39:20(UTC)
#27

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Lindisfarne;250527 wrote:
This Year is looking to be a disaster. Down over 20% after today.


Don't forget it's all relative - it's a growth fund and Morningstar seems to think the average fund in that category is down 18%.

Not saying it's been great or anything by any stretch, but it's not much worse than anything else that's a one way bet on growth.

In some respects does it look more attractive now than it did? PE 21 instead of 40 odd which it used to be. 18% tech which is less than it used to be. 2% of Alphabet the only FAANG in the top 10.

The argument against would be it's still a one way bet on growth and with 70% in the US - if (big if, merely speculating) we have a multi year period of growth stocks being out of favour it could be in for more pain as the fund does one thing and one thing only. If the market doesn't like that one thing then there's not much you can do.
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3 users thanked smg8 for this post.
Lindisfarne on 12/12/2022(UTC), countrymum on 12/12/2022(UTC), Dexi on 13/12/2022(UTC)
Tug Boat
Posted: 12 December 2022 21:24:19(UTC)
#37

Joined: 16/12/2014(UTC)
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Lindisfarne;250527 wrote:
This Year is looking to be a disaster. Down over 20% after today.


It has been tough.

My growth got hit a bit.

Then my REITs

Then my debt followed by my bonds.

Hey ho, it’s not the end of the world yet, can still afford a pint.
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2 users thanked Tug Boat for this post.
Lindisfarne on 12/12/2022(UTC), Steve DW on 21/12/2022(UTC)
Mr Spock
Posted: 12 December 2022 21:41:37(UTC)
#28

Joined: 19/07/2019(UTC)
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smg8;250559 wrote:
Lindisfarne;250527 wrote:
This Year is looking to be a disaster. Down over 20% after today.


Don't forget it's all relative - it's a growth fund and Morningstar seems to think the average fund in that category is down 18%.

Not saying it's been great or anything by any stretch, but it's not much worse than anything else that's a one way bet on growth.

In some respects does it look more attractive now than it did? PE 21 instead of 40 odd which it used to be. 18% tech which is less than it used to be. 2% of Alphabet the only FAANG in the top 10.

The argument against would be it's still a one way bet on growth and with 70% in the US - if (big if, merely speculating) we have a multi year period of growth stocks being out of favour it could be in for more pain as the fund does one thing and one thing only. If the market doesn't like that one thing then there's not much you can do.



Or you go barbel and buy rathbone + a value fund:

https://markets.ft.com/d...mary?s=IE00B54J6879:GBP

https://markets.ft.com/d...mary?s=GB00BF5DS481:GBP

?
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