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Explorer ○○○

Re: Thoughts on PRWAX (New America Growth Fund)

This is more basically just a FAANG Fund which has had some of the other usual suspects thrown in.   I have owned plenty of FAANG with FDN, PNQI, JAMFX, CTHCX, for trading, and LGLAX.  Now we are finding every Tom , Richard and Harry large cap and some global/ foreign  stock funds as an old stogey OAKMX piling into FAANG..(S) many just diluting the FAANG with some S' like Square and SalesForce, and other usual techs.  

The question really is has FAANG / LC TECH  run it's course as a market leader.  The theme has traded a bit muted for the last couple days with exceptions of course.  Joe has his TV AD employing envy and resentment towards Amazon.  On the other hand Facebook continues on unscathed from the thought police trying to organize against it and force that company to drastically change it's business model.  

For those of us with FAANG we can just fade it a bit here and there.  WE can just hunker down as well knowing if the sector starts to slide we can sell out of something 5% to 7% Lower and still have made some handsome gains.  But to jump in in one swell swoop at these levels seems a bit like the irrational exuberance that gave way to the dot com bubble and melt down.  I'd say it depends on What your broker requires for the initial investment.  $2500 seems a little steep to be starting this Now  and have 2 to 3 months of ST trading restrictions.   If you can trade slices then a DCAing over a few weeks into  ETFs like FDN, PNQI and IETC may be a way to accumulate FAANG up towards 3/4s of your broker's min intial tranche.  Any faltering in PRWAX would be a chance to **bleep** into it from those.  

Remember there are those ST trading restrictions and they can be 3 to 6 months long, which is why I hold the CTHCX instead of the CTCAX.  So each time I fade it I sell a few +1yr shares with no trading cost and then some mid tier gain shares with plus 6% gains, instead of ST shares with 12% to 15% gains.  I just pay the 1% on the ST < 1year shares and when combined with the no exit load shares it becomes only 1/2% .  It's easy to jump into a great idea out performing investment and say you're in it for the long term, it is not so easy to suck it up into a 12 to 18% market correction.   I have +47% gains in FDN that I still own and 27% gains in my JAMFX and CTHCX.   I did not enter those with the $1K min as the tech and FAANG were peaking.    Woulda coulda shoulda held PNQI a bit longer but it put in +8% in a couple weeks and I Sold first one then another share.  

You would have thought some shameless sponsor would have started a near pure FAANG fund sooner.......Some poor fools no doubt have bought Diamond Back Energy thinking it was the panacea.  

I am targeting CPOAX as the next fund to start as it is just nicking the FAANG and going for the latest potentially future FAANG.  The CPOCX closed so as to thwart the shameless ST traders.  An 8% ST gain shaved down to 7%  in the "C" shares is nothing to sneeze at with the .TNX  sub 0.7% creating and sustaining TINA.  < Six weeks ago I started WAMFX. I'm up 10.9% since I started it on June 12 and added twice more after that.  I still have two months to go before I get out from under the ST trading fees to get some of it off the table.  But I also have owned for years,  the AOFIX and am fading that against the Gains in WAMFX.   It seems a very dangerous season to make large allocations vs the likely hood of a Summer Doldrums market asserting as "THEY "  all take off for the mountains, lakes and seashore. 

 

 

 

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Contributor ○○

Re: Thoughts on PRWAX (New America Growth Fund)

"The CPOCX closed so as to thwart the shameless ST traders."

CPOAX and MSEGX are managed by the same team and MSEGX is still open. 

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)

TRP has updated its “Full Holdings” to 6/30/20 for TRBCX, so I presume they have done so for all their funds.

https://www.troweprice.com/financial-intermediary/us/en/investments/mutual-funds/us-products/blue-ch...

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Participant ○

Re: Thoughts on PRWAX (New America Growth Fund)

Chang,

I checked PRWCX fund. Its holdings have not been updated in MS*. Only March 31 portfolio is available in MS*

SRT

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)


@sthanga wrote:

Chang,

I checked PRWCX fund. Its holdings have not been updated in MS*. Only March 31 portfolio is available in MS*

SRT


Forget M*, go to TRP:

https://www.troweprice.com/financial-intermediary/us/en/investments/mutual-funds/us-products/capital...

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Contributor ○○

Re: Thoughts on PRWAX (New America Growth Fund)


@sthanga wrote:

Chang,

I checked PRWCX fund. Its holdings have not been updated in MS*. Only March 31 portfolio is available in MS*

SRT


https://individual.troweprice.com/staticFiles/gcFiles/pdf/phcafq2.pdf

Quarters mentioned at the link below are calendar quarters:

https://www.troweprice.com/personal-investing/mutual-funds/prospectuses-reports/portfolio-holdings.h...

PRWCX seems to have a higher active share than TRBCX.

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)

FWIW I’ve been watching the closing NAVs of PRWAX, TRGOX and TRBCX for the last 10 sessions or so, and there’s a clear pattern. On up days, the % increase is led by TRBCX > TRGOX > PRWAX. On down days, the order of % decrease is the same. In other words, TRBCX seems to be the most volatile, and PRWAX the least.

For a longer term view, look at the TR and RR views for 1-3-5 years (links below).

This could be meaningless noise, or just related to the fact that TRBCX has higher %s in its top holdings (although it actually owns more stocks than the other two). Compare the FB holdings (#2 holding of TRBCX) for example.

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)

Just to illustrate, today’s closing NAVs:

TRBCX -0.77%, TRGOX -0.71%, PRWAX -0.66%

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)

I’m still noticing this pattern almost every day.

chang_1-1597139694733.jpeg

chang_0-1597139664158.jpeg

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)

For those tracking TRP growth funds, you may have noticed that PRWAX lagged TRBCX and TRGOX in the last month, but lost less in the recent pullback (see below). Conclude what you will. 

chart.jpg

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)


@chang wrote:

For those tracking TRP growth funds, you may have noticed that PRWAX lagged TRBCX and TRGOX in the last month, but lost less in the recent pullback (see below). Conclude what you will. 

chart.jpg


Yes. I've noticed the same thing. Has led me to hold PRWAX in sheltered accounts and TRBCX in non-sheltered.

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Participant ○○

Re: Thoughts on PRWAX (New America Growth Fund)


@chang wrote:

For those tracking TRP growth funds, you may have noticed that PRWAX lagged TRBCX and TRGOX in the last month, but lost less in the recent pullback (see below). Conclude what you will. 

Chang,

While I don't think you can prove anything significant over a two week period, I don't think you could go wrong with any of these three funds.  You could easily make just as good a decision by letting a monkey throw a dart.

For my money I believe TRGOX is the best option.

helmut

chart.jpg


 

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Frequent Contributor

Re: Thoughts on PRWAX (New America Growth Fund)

Yesterday TRBCX and TRGOX both fell 1.23%; PRWAX fell 0.95%. PRWAX is acting as if it's slightly hedged. Chart Over 3 mths they're indistinguishable.

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