I've been afraid to buy in after this huge run up and regrettably I haven't, but I'm thinking it may be time to bite the bullet. It looks like it is setting up for another big run. Like some others, I'm sure, do you want to buy now and watch it cut in half? On the other hand, it might double from here. It's a tough call. thug... willing to offer an opinion?
There is no load and the exp ratio is .69%. 2011 return was 1.34%. It's an NAV $1.00 fund and I'm not charged expenses unless they come directly out of the monthly dividends before they are posted. This is the closest thing to cash MEG 401K allows and I put the funds in there because my personal belief is that the market is topping, so I'm in a capital preservation mode right now.
<<I sold my entire 401K and put the money into the MGD Income fund> Dan
My Templeton IRA was down 3.2% in 2011. Once the funds get very large they are limited to the crowded field of mega caps. I'm considering transferring it to the Ameritrade IRA, up 6% in 2011. Core holding is T(AT&T) which pays $1.76 year or 5.87% at $30. T has raised the QTRly payout to 44 cents-28 straight years of dividend increases. Comcast CCS retail bonds due to 2056 par $25 pay 6 5/8% but usualy trade around $26. If called early that will reduce yield a little.
T CCS BAC--blue chip plays for self managed accounts.
Dan-- what is the load and expense ratio on the MGD income fund. In the long haul high expense ratios are worse than a sales charge(load) and eat an investor alive. Timed BAC nicely- Sold the $5.23s at $5.32 then bought back at $5.25. BAC is the best 'troubled bank play' and the talk is $10-$12 this year. BAC has been very strong on very high volume.
Due to AOB and BAC I'm up 17% YTD 2012 in a cash account.
note--bellyaching and crying over spilt milk never made anyone a dime. Good luck to all making money in the market.
Good luck to you too Dan. In my opinion what you've done in your 401k sounds like a smart move. You can make guaranteed money in the managed income portfolio. Almost guaranteed. It can go down too but not likely. You'll be glad you did what you did in a few months if not sooner.
I bought some the other day. I'm waiting for a breakout before diving in again. It's precarious right now for most stocks. MEG seems to be surprisingly resilient lately. Watch GCI for further clues, and maybe an industry thing.
Its makes since if it is this reason. Selling out and buying in lower to gain shares. Its make holding long feel like a lifetime if the stock goes back and forth all the time. You could add up shares trading a lot on the drops and selling some on gains and back and forth. I didn't think this stock would get out of the 3"s until later in DEC. Still holding on. I have some profit. A good buy would be back at 3.70. Don't want to add at this level. Someone on the inside must want to gain shares or something and keep others from trading so often to make gain or sell shares. Or perhaps there is a charge to the company for each trade, and the company wants this charge to go lower. There is always a reason for rule changes.
Way to go. I don't think you will regret it. You can't lose taking a profit. I spoke with a friend that works for Media General today and he said they are changing to rules on the 401k. He said under the new rule you can only exchange into MEG once a month. I can't verify it so I'm not sure if I understood him correctly. Sounds like a stupid rule but nothing suprises me with this company.