I was surprised to see any PIMCO funds below a B, since PIMCO to me was synonymous with the best bond management available in this country. It turns out I was wrong. PIMCO severely underperformed in their mission in the long bond category, and I find this concerning and a reason to question Paul McCulley going forward.
About Profunds and Rydex, it turns out they do not accurately track the inverse at all. One blogger invested in it, and on a day that the correlated stock market was DOWN x%, the Profunds fund, which should have been UP x%, was down also! He wrote a letter of complaint. I investigated Profunds this spring, and wrote several letters of complaints to the company, because they refuse to disclose ANY of their holdings. They do NOT short the correlated stock fund, as they claim. Thus, their E rating, because they do poorly at accomplishing their mission. So these funds are somewhat misleading in their claims of shorting the market. If they did truly short the market, and peform inverse of the market, I would be buying shares of those funds.
I trust Weiss Ratings, and that’s why I paid $15 per report on my banks. If Weiss isn’t data, what is it?
