Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Bob Rodriguez CEO of First Pacific Advisors on RISK
Old 07-19-2007, 01:32 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Bob Rodriguez CEO of First Pacific Advisors on RISK

This is Bob Rodriguez speech in June of this year.


"My talk today, Absence of Fear, is a follow up and expansion of the Special Commentary section that appeared in my March 31, 2007 shareholder reports. It will focus on the concept of RISK since there appears to be little concern about risk in the financial markets currently. My goal is not to scare or sensationalize, but to get investors to consider various risks and ask the basic question, “Am I being sufficiently compensated for these apparent risks?” "

FPA News Article

Ha
__________________

__________________
haha is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-19-2007, 06:48 AM   #2
Thinks s/he gets paid by the post
wildcat's Avatar
 
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
Quote:
Originally Posted by haha View Post
This is Bob Rodriguez speech in June of this year.


"My talk today, Absence of Fear, is a follow up and expansion of the Special Commentary section that appeared in my March 31, 2007 shareholder reports. It will focus on the concept of RISK since there appears to be little concern about risk in the financial markets currently. My goal is not to scare or sensationalize, but to get investors to consider various risks and ask the basic question, “Am I being sufficiently compensated for these apparent risks?” "

FPA News Article

Ha
I often read his Q reports Ha. Always a good read. BTW, his shop runs a closed end fund you can buy, it charges a fraction of the cost to own his mututal funds & it is currently trading at a discount for the first time in many years.
__________________

__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
wildcat is offline   Reply With Quote
Old 07-19-2007, 08:05 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,441
Ha,

A few months ago you said your allocation was at a 60/40 stock/bond blend. Still maintaining this ratio?
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Old 07-19-2007, 01:12 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Quote:
Originally Posted by Dawg52 View Post
Ha,

A few months ago you said your allocation was at a 60/40 stock/bond blend. Still maintaining this ratio?
Pretty close. However if I back out my Japanese shares and my oil and gas related shares, I only have about 15% equity. Not sure that this is a valid exercise or not.

Also, I carry puts and I have some short exposure to junk bond markets.

Ha
__________________
haha is offline   Reply With Quote
Old 07-19-2007, 04:12 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,036
Thanks Ha .That was an interesting read.
__________________
Moemg is offline   Reply With Quote
Old 07-20-2007, 01:37 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Quote:
Originally Posted by wildcat View Post
I often read his Q reports Ha. Always a good read. BTW, his shop runs a closed end fund you can buy, it charges a fraction of the cost to own his mututal funds & it is currently trading at a discount for the first time in many years.


Yes, I have owned Source Capital and it's interesting preferred Source Cap Pfd. It was managed by an outstanding guy named George Michaelis who I believe tragically fell off a mountain while climbing some years ago. I can't find reference to his death on the web, but at least he is no longer manager of Source Capital

Here is a profile of Michaelis as a manager.


http://www.streetstories.com/george_michaelis.html

These kind of guys are a bit out of fashion recently, but IMO their day will return.

Ha
__________________
haha is offline   Reply With Quote
Old 07-20-2007, 01:54 PM   #7
Full time employment: Posting here.
 
Join Date: Jun 2007
Posts: 567
Michaelis sounded like my kind of fund manager.
__________________
Webzter is offline   Reply With Quote
Old 07-20-2007, 02:03 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
Although his is not a closed end fund, look at David Winter at Wintergreen.

Another very solid manager.

Ha
__________________
haha is offline   Reply With Quote
Old 07-20-2007, 07:26 PM   #9
Thinks s/he gets paid by the post
wildcat's Avatar
 
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
Quote:
Originally Posted by haha View Post

Yes, I have owned Source Capital and it's interesting preferred Source Cap Pfd. It was managed by an outstanding guy named George Michaelis who I believe tragically fell off a mountain while climbing some years ago. I can't find reference to his death on the web, but at least he is no longer manager of Source Capital

Here is a profile of Michaelis as a manager.


http://www.streetstories.com/george_michaelis.html

These kind of guys are a bit out of fashion recently, but IMO their day will return.

Ha
Nice investment on your part Ha. I agree with your out of fashion assessment and that is probably why they closed so many funds to new investors. Bob just can't find places to put money to work.

I don't own anything FPA offers but I do follow the shop and IMHO they really stick to their value roots.
__________________

__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
wildcat is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 08:01 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.