MunroMan

Robert Davies

MunroMan’s Activity

Today

NL

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MunroMan replied to the Investment Trusts & Unit Trusts board. 09:24

Re: Good dividend producing assets

What of course BK illustrates, apart from the obvious need to pick good assets in the first place, is the power of compounding gains. As Mc2fool has said, I think Hariseldon has got this one the wrong way round. It is because of not despite the [more]

Thu Apr 28

NL

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MunroMan replied to the Investing for Income board. 20:44

Re: Interesting article in the Telegraph

These exercises are bedevilled by differences in debt levels, FX exposure and accounting practices.
Morningstar quotes a figure of 15.3 for the PE of the HSBC All Share tracker and I am sure there will be figure there for a 250 tracker. [more]

NL

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MunroMan replied to the Investing for Income board. 09:57

Re: Interesting article in the Telegraph

Er, don't the stats in this thread of FTSE100 vs FTSE250 prove this wrong? (TR of 250 is higher).

That is true. But the yield on the 250 is lower and the gain has been more due to re-rating rather than higher profits. The 250 trades [more]

NL

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MunroMan replied to the Investing for Income board. 07:45

Re: Interesting article in the Telegraph

If you take the view that smaller companies are more risky than larger companies then the equal weighted index is the riskier of the two.

But there is even more risk than that. 54% of the dividend income comes from the largest 15 [more]

Wed Apr 27

NL

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MunroMan replied to the Investing for Income board. 10:31

Re: Interesting article in the Telegraph

"1.4 Price and Total Return indexes will be calculated in UK Sterling on a real-time basis. The Total Return indexes are based on ex dividend adjustments."

Thanks. In that case I would expect it to underperform a cap [more]

NL

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MunroMan replied to the Bert's Investor Sanctuary board. 08:19

Re: Hits the nail on its head

The rocket is running out of fuel. Have share buybacks run out of road?

According to David Santschi of TrimTabs, which tracks uses of corporate cash, US companies have bought back $182bn of their own stock so far this year, barely half [more]

NL

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MunroMan replied to the Investing for Income board. 07:47

Re: Interesting article in the Telegraph

Fortunately FTSE Russell have better vision than you. www.ftse.com/products/downloads/FTSE_100_Equally_Weighted_In......

As far as I can see that is a [more]

Tue Apr 26

NL

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MunroMan replied to the Investing for Income board. 20:55

Re: Interesting article in the Telegraph

And how about an equal-weighted index?

Including, at least, all the top 350.


An index represents the sum of the value of its components. A TR index adds the dividends back. I can't see any way you could equal weight that. [more]

NL

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MunroMan replied to the Investing for Income board. 15:30

Re: Interesting article in the Telegraph

Focusing on TR makes investing in equities look more attractive. I would have thought most fund managers would be quite keen on that!

Only if you hold for a long time. The marketing men, and IFAs, are far too obsessed with [more]

NL

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MunroMan replied to the Investing for Income board. 11:14

Re: Interesting article in the Telegraph

Well done to HL for making the case. Though I doubt many other fund managers will support my proposal to the FCA that the press should be encouraged to focus on the TR index level rather than the traditional capital only index.

Rob

NL

Boards Post

MunroMan replied to the Bert's Investor Sanctuary board. 09:26

Re: Hits the nail on its head

But if I had gone to the cashpoint at the height of the GFC and seen the message "Sorry your bank is bust and your money has gone" when would I ever have been willing to participate in a capitalist trading economy again?

Of [more]

Sun Apr 24

NL

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MunroMan replied to the Bert's Investor Sanctuary board. 11:40

Re: Hits the nail on its head

World Wars One and Two did not destroy the world economy ("destroy" basically means "wipe out"), Germany's economy did not cease to exist during the Weimar hyperflation and Japan's economy in 1945 was not destroyed by losing a [more]

NL

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MunroMan replied to the Investing for Income board. 11:32

Re: Baskets' volatility since 2000

Which is it?

10 years, but it is interesting to note when there is a big sea-change.

What you seem to be saying is that value funds do better when markets are declining. And relative to growth funds, that may well be true. [more]

Sat Apr 23

NL

Boards Post

MunroMan replied to the Bert's Investor Sanctuary board. 21:35

Re: Hits the nail on its head

But for someone to argue that a correction is about to happen during a big bull market tells me that the person hasn't a clue.

The art is to ride the bull market and then sell out just before the correction happens..


Seems [more]

NL

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MunroMan replied to the Bert's Investor Sanctuary board. 19:46

Re: Hits the nail on its head

Anyone who has believed his thesis will have either stayed out of the markets with a huge opportunity cost or gone short and are now bankrupt.

The fact that asset prices have gone up does not make the original thesis wrong. We all [more]

NL

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MunroMan replied to the Bert's Investor Sanctuary board. 08:46

Re: Hits the nail on its head

The problem with following someone like Albert is that he's now been wrong so long

If he is wrong why are interest rates so low so long after the crash?

Rob

Fri Apr 22

NL

Boards Post

MunroMan replied to the Investment Trusts & Unit Trusts board. 10:48

Re: Help finding Dividend reserves of IT's

When did you last hear of an investment trust running out of cash, trading unprofitably or for that matter, suspending its dividend?

Edinburgh Investment Trust in about 2004.

Rob

NL

Boards Post

MunroMan replied to the Investing for Income board. 10:18

Re: Baskets' volatility since 2000

What are these signs?

Funds with clear, definable value biases are suddenly in the top decile, not just top quartile, over 3 months after being in the fourth quartile over 1, 3 and 5 years.

Rob

NL

Boards Post

MunroMan replied to the Investment Trusts & Unit Trusts board. 09:40

Re: Help finding Dividend reserves of IT's

Whilst his comments of course have some merit they are opening up a whole new can of worms, best ignored by someone who is not altogether au fait with company accounts.

Clearly written by someone who spotted the problems at Enron, [more]

NL

Boards Post

MunroMan replied to the Investing for Income board. 09:37

Re: Baskets' volatility since 2000

We are always being told that minimums of 3 or longer years are needed to properly judge such things but perhaps not so.

Correct, 10 years is a better time frame. However, there are signs that the QE bull market that started in March [more]

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