Interesting info about investing from the WSJ...
Yesterday's edition of the Wall Street Journal had its monthly analysis, "Investing In Funds & ETFS". Here are highlights as seen from here.
---The top 50 funds by assets under management, are led by index funds. S&P index funds were up by roughly 19.5% over the past 12 months. Total market funds were up around 20.5% on that basis. In comparison, there were a few discretionary fund stand-outs among the 50. Will Danoff's Fidelity Contrafund is up 25.6% and Charles Pohl's Dodge and Cox Stock fund up 18.1%. Both were known well in the 1990's and early aughts. Small cap funds fared well, with the IShares Russell 2000 up 25.4% and the IShares Core S&P small cap up 32.5%. Growth stocks fared did too, with the QQQ up 28.8%, Fidelity Growth Company fund up 31.7%, and T Rowe Price Growth Stock up 22.7%.
---Among categories, on a year to date basis, the Multicap 1.7 billion Miller Opportunity Fund is up 25.3%, Bill Miller, same age as me, still thriving. Small cap names are still being managed exceedingly well by some, as in the $1.6 billion Alger Small Cap Focus fund up 46% through August. Overall, well managed growth funds have been the place to be, value funds not. Bond funds, however reassuring to some, have not performed well as expected in this rate environment and the outlook is generally not positive. REIT's are showing some life, for those who know how to choose them and deal with the tax impact, not a skill here.
The takeaway is that the market has been an wonderful opportunity in general, but not one that has attracted as much attention as prior bull markets. As long as many are calculating the end, that may stay true. Still, with this over 9 year bull market, careful analysis and considerable caution seem to be required.
---The top 50 funds by assets under management, are led by index funds. S&P index funds were up by roughly 19.5% over the past 12 months. Total market funds were up around 20.5% on that basis. In comparison, there were a few discretionary fund stand-outs among the 50. Will Danoff's Fidelity Contrafund is up 25.6% and Charles Pohl's Dodge and Cox Stock fund up 18.1%. Both were known well in the 1990's and early aughts. Small cap funds fared well, with the IShares Russell 2000 up 25.4% and the IShares Core S&P small cap up 32.5%. Growth stocks fared did too, with the QQQ up 28.8%, Fidelity Growth Company fund up 31.7%, and T Rowe Price Growth Stock up 22.7%.
---Among categories, on a year to date basis, the Multicap 1.7 billion Miller Opportunity Fund is up 25.3%, Bill Miller, same age as me, still thriving. Small cap names are still being managed exceedingly well by some, as in the $1.6 billion Alger Small Cap Focus fund up 46% through August. Overall, well managed growth funds have been the place to be, value funds not. Bond funds, however reassuring to some, have not performed well as expected in this rate environment and the outlook is generally not positive. REIT's are showing some life, for those who know how to choose them and deal with the tax impact, not a skill here.
The takeaway is that the market has been an wonderful opportunity in general, but not one that has attracted as much attention as prior bull markets. As long as many are calculating the end, that may stay true. Still, with this over 9 year bull market, careful analysis and considerable caution seem to be required.
posted by John Borden at 12:50 PM
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