Emerging Markets Value funds

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unemployable
Posts: 405
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Re: Emerging Markets Value funds

Post by unemployable » Mon Aug 26, 2019 2:00 pm

I think you mixed your metaphor a bit too much and took some shortcuts with my words, not that I'm above reproach in those respects. Off-the-cuff remarks are in my nature, but my old boss thought I was the best writer the firm had, so not everyone considers my style "annoying".

Lucky C
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Joined: Sat Apr 16, 2016 6:09 am

Re: Emerging Markets Value funds

Post by Lucky C » Mon Aug 26, 2019 3:37 pm

Just wanted to show that I too can be annoying :P Well it's good that people are comfortable just being themselves on this forum. I didn't mean it to be some grand attack on you and everything you stand for, just a comment because I got annoyed and felt like saying so, nothing more. You clearly have lots of knowledge and experience that are useful to this community, since lots of us don't come from the world of finance.

Seppia
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Re: Emerging Markets Value funds

Post by Seppia » Mon Aug 26, 2019 5:02 pm

unemployable wrote:
Mon Aug 26, 2019 12:23 pm
Now consider that large institutions, the people who can write checks for hundreds of millions when they want to steer towards something such as "emerging value", are happy to pay in the 20-50 bp range (that includes things such as custodial arrangements, separate account maintenance, they fly out to you on their dime, that kind of thing) depending on how specific the mandate is. For tactical/macro it's more like 50-100 bp. You don't think you can get a better deal than they do, do you?
The main elements that made me think “I’ll just stick with emerging” we’re, in no particular order
1- subjectivity of what “value” means (I think I may agree with GMO’s definition, but not with standardized/automatized definitions)
2- the subsequent realization that, in order to “do things right”, I should have obsessed over details regarding an asset class representing one and a half years of my savings.

Unrelated: I enjoy reading you a lot, so please keep it up (still, I bookmarked our “USA vs rest of the world” equities discussion and may unearth it in 10 years time -only if I turn out to be right obviously-)

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unemployable
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Re: Emerging Markets Value funds

Post by unemployable » Mon Aug 26, 2019 7:37 pm

Seppia wrote:
Mon Aug 26, 2019 5:02 pm
Unrelated: I enjoy reading you a lot, so please keep it up (still, I bookmarked our “USA vs rest of the world” equities discussion and may unearth it in 10 years time -only if I turn out to be right obviously-)
You are certainly aware I tend to bring nuclear warheads to knife fights.

I'm far more internationally diversified than your typical vainglorious Vanguardian, so I won't necessarily be disappointed if you're right.

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