How's that Jones Bank and REIT portfolio

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Dec 18, 2007 10:51 am

So how's that Jones Bank and Reit Portfolio doing this year?  That buy and hold strategy paying off for your clients...  Since I never see published results on the analyst stock picks anywhere I can't seem to find out.  Remind anyone of watching Lucent go from 80 to 8 (or lower I can't actually remember) before the analysts downgraded it to a hold.....

Dec 18, 2007 10:54 am

not to mention

Enron
Nortel
WorldComm
Baldwin United.....(shows how dated I am)
Dec 18, 2007 11:58 am

Come on guys give Jones a break--they did recommend to sell Boeing about a year ago didn't they?  How about that sell they did on MO in 1999 at $18--what a call!

Dec 18, 2007 12:33 pm

They had to make that MO call, they sell so many American Funds they were overweighting their clients... 

Dec 18, 2007 1:22 pm

Actually the BA sell was a couple of years ago.  Kind of funny that on the current Jones opinion of BA they say (paraphrased) "We blew it."  Jones never had an opinion on Enron. 

The bank and REIT portfolio you're talking about is probably the Equity Income Buy List.  There are only 2 banks (BAC, USB) and 2 REITS (DRE, WRI) on it.   Overall, the portfolio has done well if you take a buy and hold approach.  
 
Baldwin United was a bond issuer.  Not a stock.  And it may be the only bond Jones ever underwrote that has defaulted.  I don't remember hearing about any others.
 
If you're gonna play that game, why don't you include some other firm's worst mistakes.  What firms got stung the worst by Enron?  What firms got hit hard with LP losses 20 years ago?  What firms recently got beaten up because of hedge funds?  There are a lot of bad decisions out there.  Look hard enough and you'll find them everywhere.     
Dec 18, 2007 1:31 pm

sapceman,

 
here you go highjacking a prefectly good anti -EJ post and try to turn it into anything butt. And yes enron was a pick
Dec 18, 2007 1:52 pm

Hijacking?  Really?  You didn't read the topic line very well then.  Cause it started as a Jones thread.  Actually, one making fun of a specific list of stocks that Jones suggests for people looking for dividend income.  If that's not a Jones thread, I don't know what is.  You can attact all you like, but in this case you are W-R-O-N-G.   

Dec 18, 2007 2:05 pm

I see a couple options here:


1. Continue this game of essentially throwing darts at a dartboard to decide what to buy and when to sell; or,
2. Invest our clients' money in a portfolio of index funds and spend our time managing our investors.
 
The more I research this business, the more I realize how futile it is to try and time the market.
 
But as long as there's money to be made, it will continue...
 
 
 
 
Dec 18, 2007 2:07 pm

Hey, Spiff--Enron was a pick!!!!

Dec 18, 2007 2:40 pm

That's funny!  Jones using index funds...ETFs.... how would they pay for trips.....

Dec 18, 2007 2:43 pm

Is Onion head still the cheif equity idiot at the cult

Dec 18, 2007 2:51 pm
outofjail:

Is Onion head still the cheif equity idiot at the cult

 
Onion head??? Ha Ha Ha Ha
 
That made me crack up.. You mean Alan Skrainka? Yes...
Dec 18, 2007 3:35 pm

You got it! "BUY AND HOLD AND PRAY TO GOD NOTHING CHANGES IN THIS WORLD"! especially the price of Lucent@ $76.50. How bout some Rogaine?

Dec 18, 2007 4:11 pm

Spiff, I don't know if they underwrote it, but EDJ sold a boat-load of bonds from a firm called Energy Management Corp. or something similar in the early 80's that defaulted.  I know this well because my father and grandfather both bought the piece of garbage and settled in a class action for about a nickel on the dollar.  If I remember right, it paid about 14%, which was fairly typical for that time-frame.

Dec 18, 2007 4:13 pm

Yup that dre recommended buy at 47 was brilliant!

Dec 18, 2007 4:58 pm

Indy, I don't either.  I've not heard of that one.  It was well before my time.  Anytime you look into an investment company's past you are going to find those bad recommendations. 

 
If anyone can find an analyst team that has a perfect record of calling the top and bottom, I'm all ears.  I'll admit Jones is slow to make a change in their opinions.  That's why I like looking at S&P, Yahoo, and Morningstar too.  At least that way I can get more than one recommendation. 
 
Does LPL have an analyst team or a model stock portfolio?  I tried to look online for one, but hmm...your website is down.  Now that doesn't help me as an interested investor.  Maybe they should keep an extra 1% and pay for a better IT dept.   One of you guys should really tell them about that. 
Dec 18, 2007 5:05 pm

Yes we do have a research dept and I just got on the site...what is your problem.  Maybe its blocked by your great firm, not good use of the 1%.

Dec 18, 2007 5:06 pm

Sorry, guess again! Not LPL but they do in fact have a research team.  They aren't bad.  Sure every firm has a list of "gee I wish I wouldn't have recommended's" but many firms say oops we blew it before it gets really ugly.  It will take some significant time, if at all, for the investors to recoup their losses on companies like C,DRE,BAC (not so much), and others.  Sometimes you just have to say "we were wrong" and move on.

Dec 18, 2007 7:43 pm
Spaceman Spiff:

Actually the BA sell was a couple of years ago.  Kind of funny that on the current Jones opinion of BA they say (paraphrased) "We blew it."  Jones never had an opinion on Enron. 

The bank and REIT portfolio you're talking about is probably the Equity Income Buy List.  There are only 2 banks (BAC, USB) and 2 REITS (DRE, WRI) on it.   Overall, the portfolio has done well if you take a buy and hold approach.  
 
Baldwin United was a bond issuer.  Not a stock.  And it may be the only bond Jones ever underwrote that has defaulted.  I don't remember hearing about any others.
 
If you're gonna play that game, why don't you include some other firm's worst mistakes.  What firms got stung the worst by Enron?  What firms got hit hard with LP losses 20 years ago?  What firms recently got beaten up because of hedge funds?  There are a lot of bad decisions out there.  Look hard enough and you'll find them everywhere.     
 
spacepuppy,
I guess sarcasm is not a required subject for continuing ed at your "regional firm"
you are correct sir United Balwin is not a stock but it was "pushed" by your firm none-the-less.
 
Give it time and your firm "will be in play".
ube not making money north of the border or across the pond. How long do you think the GPs will paly along with that???
this is an anti EJ thread and here you go trying to hijack it into any but.
 
as far as buy and hold concept "has done well" what sort of time frame are you looking at
6, 12, 18 or 24 months...... I think you are looking at 5, 10 or even 20 year time periods aren't you????
 
underwriten doesn't that suggest that there is a .....gasp ANOTHER profit center at your firm......but isn't the indoctrination I mean, gospel I mean promotion that there is BUT ONE profit center and it be called the Investment Representative (or whatever you call yourselves today)??????
Dec 19, 2007 1:09 am

Nothing makes me laugh like posts about Jones equity research.  Does Mel Marten, the brillian Jones analyst who had a Strong Buy on WCOM down to the single digits still work for the cult?  I read in his bio once that he was a member of the local Mensa chapter.  My first thought was who cares, but with that WorldCom call it delivered a good laugh. 


Just Curious.  Has the great buy and hold firm maintained a favorable recommendation on WMB over the last 7 years?  It's almost back to even........congratulations!