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US Global Investors Wld Prec Minerals Message Board

  • hapiwondrer hapiwondrer Feb 22, 2013 3:19 PM Flag

    This is a warning:

    This particular fund is underperforming far below its peer group in the PM sector. While this is a promising time to buy in to this sector, all those who are hoping to be rewarded should investigate other top performing PM sector funds. The investors (represented by this screen name) have bailed out of UNWPX some time ago when it became apparent that either the fund was being wildly mismanaged, or ...

    Please visit Morningstar as a point of reference for your research. They have a listing of all funds in the PM sector and their performance according to time span, whether months or years, take your pick. Currently, UNWPX is 11th from the bottom over a one year time span, which would avoid selling without a penalty. Look for the chart titled, “Equity Precious Metals: Total Returns” on Morningstar.

    This is merely a public service to those who still remain invested in UNWPX. You should take what is left of your investment and put it in something like Tocqueville, TGLDX (which has had positive returns over longer time spans), or many of the other funds whose managers actually are interested in providing a return to their investors.

    Actually better than doing that is to put your remaining money in a PM stock that is a top performer in one of the funds, thereby taking advantage of their research in determining the best candidates to include. This avoids all the extra costs that take away from investor returns. For example, in Tocqueville (TGLDX) one of their top performers is AUY. In fact this is part of the top 10 in the UNWPX portfolio. But it is quite evident that US Funds is siphoning off what should be adding to investor returns into the pockets of those running that fund. This is apparent by looking at the Fund’s expense, which according to Morningstar exceeds by a wide margin that of other funds. Where do you think the final destination is of your investment dollars as a result?

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    • I've been watching this stock go haywire for the last couple of years and I finally threw in the towel. I'd been investing since 2005. I finally stopped my regular investments at the beginning of 2012. When they didn't pay a dividend this past December, I started to wonder what on earth I was waiting for. At one point in 2008 I had 30K in this fund. 4 years later I have 16K. Go figure. I decided to cut my losses and just 15 minutes ago I sold everything. How sad. Goes to show that hope is the wrong emotion for investing :-)

      Thanks for writing this. It was the final push I needed to ditch this dog. Even if it climbs up a few bucks, its not worth the roller coaster and ridiculous expenses.

      Sentiment: Strong Sell

      • 2 Replies to olamariepaola
      • I'm out too. Been holding too long in this fund which is mismanaged and skimmed off the top.

        Sentiment: Sell

      • It would not be a surprise to see US Funds go bankrupt. Frank Holmes spends a lot of his time drawing in the new and unwary to his funds. Watching the day to day behavior of this fund’s share price it seems to go up slightly more than others in the sector when there’s is an up day for the sector, but the next downdraft takes it quite a bit below others, meaning a net comparative loss. It’s almost as if Holmes is actively trying to destroy shareholder value.

        One other thing to be noticed is that Holmes seems to spend a lot of his time posting articles on PM websites to attract new business, rather than letting performance attract new investors.

        The conclusion, for all managed funds, is that they draw too much for overhead to run the fund without providing the performance to justify it. One of the individual shares invested in here is AUY, which took place a little over 4 years ago and at about the same time as the investment in UNWPX. AUY is now up 3X from the initial investment and the dividend from the original investment is now 7%. AUY also made a new high recently in November, probably because of the expectation of opening new mines in South America that are expected to be highly profitable. This even after the big downturn in PM share prices. It's difficult to predict where we are headed from here, especially with the current news of increasing economic activity based solely on things like the DJIA making new highs. Other news about housing and employment has been highly unreliable in the past. The DJIA is more subject to manipulation than other indices because of its relatively small size and the wide exposure it gets from the mass news media (to draw in more of the unwary). For example the NYSE has an H&S pattern that is very bearish in the formative stage over a 15 year period. The DJIA has broken the pattern by exceeding previous highs, unless it is adjusted for inflation.

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