That Founding Fathers strategy got me, too. Who’d figure a 3-pack that had never lost more than 10 points in a single year, a 3-pack that sailed through every other downturn would lose 38 percent in a year.
It got me started with many clients, but the subsequent appointments to deepen the portfolio selcom came off the right way, because who’s gonna listen when their new advisor’s first idea blows up.

Btw, Franklin Income is yielding 10 percent or something crazy. Tough to liquidate that, unless you see massive defaults ahead.

80.6 is BB or lower…They have more than 3x the amount is CCC or lower (24.85) as they do in A(7.28) or higher.

Templeton Growth has had 3 manager changes since 2000 and it shows(not once the fund it was). It has trailed the index 4 out of the last 6 years…

I’d take the equity managers at Mutal Series over Templeton or Franklin any day. Franklin is great at fixed income, poor at equities. Templeton is is fair internationally, but slipping. Their Global Bond Fund is very good. Basically, I only use the Mutual Series Funds (primarily Mutual Discovery), Templeton Global Bond, and Franklin for Bonds.



However, it should be noted that the Mutual Series Funds will likely underperfom during a recovery (very conservative value investors). Mutual Discovery is around 40-50% cash these days. So if you have equities in Templeton or Franklin, you might consider holding some of them during the recovery. Two years ago was the time to be moving into Mutual Series funds.

[quote=B24]I’d take the equity managers at Mutal Series over Templeton or Franklin any day. Franklin is great at fixed income, poor at equities. Templeton is is fair internationally, but slipping. Their Global Bond Fund is very good. Basically, I only use the Mutual Series Funds (primarily Mutual Discovery), Templeton Global Bond, and Franklin for Bonds.



However, it should be noted that the Mutual Series Funds will likely underperfom during a recovery (very conservative value investors). Mutual Discovery is around 40-50% cash these days. So if you have equities in Templeton or Franklin, you might consider holding some of them during the recovery. Two years ago was the time to be moving into Mutual Series funds.[/quote]

What does it say when Mutual Discovery – value manager – can’t find good buys at these prices?

Well, I wonder about that daily. It makes me nervous, but I think because MutDis is so conservative, they are waiting out the storm to avoid the “suckers rallys”. If you look at their holdings, they are mucho conservative right now. It’s in cash and tobacco stocks. I like them for people that need equity but I don’t want to blow up. They just won’t participate in the full recovery. But I’m OK with that. You only benefit from them when you hold them through all cycles.