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05-28-2007, 07:28 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
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Commodities anyone?
Aside from an occasional topic on oil, nobody has really mentioned diversified commodity investments much lately - PRCIX, etc. Do you still maintain a position or did you cut ties? Kind of curious to know.
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"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"
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05-28-2007, 07:38 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,113
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Metals are trading up today on foreign markets. I purchased a SEAsia ETF with a mining company on it's short list.
Remember Brewer and others talking about bulk shipping and the huge demand. Much of this is raw material, commodity, transportation.
So.. in a nutshell, there are a couple ways to play this.
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05-28-2007, 07:46 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,610
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 Quote:
Originally Posted by wildcat
Aside from an occasional topic on oil, nobody has really mentioned diversified commodity investments much lately - PRCIX, etc. Do you still maintain a position or did you cut ties? Kind of curious to know.
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Just oil and oil service for me right now mainly through Fido select funds and a couple of wild a$$ gambles----ABP & ENG.
How about water as a commodity. My water resource ETF is finally coming to life albeit only slightly---PHO.
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05-28-2007, 07:56 PM
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#4
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Recycles dryer sheets
Join Date: Dec 2006
Location: Florida
Posts: 249
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Confucius didn't say (but should have): "Man who wager donkey often lose his ass." Take that as capsule advice on what'll happen to you if you try the commodity game. But heck, give it a shot, after all, you're better than most people right? ("Cognitive bias.") 
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I've got nothing against an honest day's work, provided that someone else does it.
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05-28-2007, 08:10 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
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Uhhhhh ok. Actually, altough it can be debated (research backed), small investments in PCRIX can be/have been good diversifiers to an equity portfolio and are viable investment options. Thanks for the tip though 
__________________
"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"
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05-28-2007, 08:11 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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This is one of those areas that I suspect might have been a beneficial anti correlation tool and unexpected inflation offset before there were 947 ETF's and funds and a brazillion dollars worth of junior investors money involved...i'm not sure what the heck it is now, other than an expensive little rocket ship for gamblers and people who obviously know much more than I do...
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Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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05-28-2007, 08:14 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
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I suspect some short-term wash out but we could see a reversion to historical results eventually. I wouldn't count it out just yet.
__________________
"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"
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05-28-2007, 08:53 PM
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#8
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Recycles dryer sheets
Join Date: Jul 2005
Posts: 423
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I'm still holding on tight to DJP. I rode it up from 46, so I'll have to wait until it is under at least 30 before I sell. (If all goes as my usual) 
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05-28-2007, 08:55 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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I am still keeping PRCIX in my tax-deferred account -- only 2% of my portfolio.
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05-28-2007, 09:47 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,769
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I think I have too much exposure to commodities:
corn/ethanol/ag via POT
uranium via CCO.TO
oil&gas via XIU.to
and a few small positions in other things. Being Canadian, our total market indexes are heavily weighted toward commodities. Am I going to change? Not yet.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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05-28-2007, 10:23 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
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Quote:
Originally Posted by kumquat
I think I have too much exposure to commodities:
corn/ethanol/ag via POT
uranium via CCO.TO
oil&gas via XIU.to
and a few small positions in other things. Being Canadian, our total market indexes are heavily weighted toward commodities. Am I going to change? Not yet.
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What was your total portfolio growth rate for 2006?
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05-28-2007, 11:44 PM
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#12
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Recycles dryer sheets
Join Date: Mar 2005
Posts: 329
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I have 5% of the protfolio in PCRIX and DBC combined. I have been waiting for the commodidties to go down to see who would hold on.
-h
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Hope springs eternal in the human breast:Man never is, but always to be blest.
The soul, uneasy and confined from home,Rests and expatiates in a life to come.
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05-29-2007, 02:41 AM
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#13
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2005
Posts: 6,192
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i keep 5% in gsg or dbc..... ill dabble in uso and gld at times also
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05-29-2007, 06:02 AM
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#14
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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I still think PCRIX and DJP are valuable tools in a diversified portfolio. Even if returns are more modest than they have been historically, the inflation protection is worth having.
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"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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05-29-2007, 06:28 AM
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#15
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gone traveling
Join Date: Sep 2003
Location: DFW
Posts: 7,586
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I have a small amount of PCRIX and a fair amount of TIPS in my port, and therefore, wonder if I should switch to a different commodities related investment since PCRIX utilizes TIPS as well. Is DJP the best and most diversified commodity alternative?
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05-29-2007, 06:30 AM
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#16
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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DJP is better in taxable accounts. Other than that, it is very close to PCRIX. The main difference is that PCRIX uses TIPS as collateral and DJP uses t-bills.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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05-29-2007, 06:49 AM
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#17
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gone traveling
Join Date: Sep 2003
Location: DFW
Posts: 7,586
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Hi Brewer, My stuff is all in non-taxable accounts. Do you know the pro/cons of DBC vs DJP vs PCRIX? I am thinking of dumping my PCRIX and switching to one of the others since PCRIX uses TIPS as collateral and I already have a large TIPS allocation in my port. I also have PRNEX, PCL, and BGEIX in my "commodities related" allocation.
Thx,
DFW
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05-29-2007, 07:37 AM
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#18
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Thinks s/he gets paid by the post
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,781
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I still hold PCRIX. No plans to sell it.
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In a panamax down by the river.
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05-29-2007, 08:28 AM
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#19
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by DFW_M5
Hi Brewer, My stuff is all in non-taxable accounts. Do you know the pro/cons of DBC vs DJP vs PCRIX? I am thinking of dumping my PCRIX and switching to one of the others since PCRIX uses TIPS as collateral and I already have a large TIPS allocation in my port. I also have PRNEX, PCL, and BGEIX in my "commodities related" allocation.
Thx,
DFW
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DBC is messy on taxes just like PCRIX. In a taxable account, DJP reigns supreme, assuming you are comfy with the credit exposure to Barclay's (Aa2 rated, IIRC).
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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05-29-2007, 08:50 AM
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#20
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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I use managed futures, which are basically a basket of commodities. My eyes were opened by the Yale Foundation.
However, I have NO MORE than 5% of my client's portfolios in them, and for most it's around 3%.........
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
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