Mungofitch announces…

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Mungofitch was a poster on the Motley Fool for years and years, possibly dating back to Fool .1, dunno. He hasn’t been on these boards since the software change to 2.0 but has taken up residence at Shrewdm.com on the Berkshire board there. He is often referenced here and there for his insights into Berkshire (in particular) and other stocks, for his bottom and top detectors, and for being a presence on the Mechanical Investing boards as well.

While he’s lived overseas for some time, as he announced yesterday, he’s out - of the US as an investment haven, and I thought I would alert the board to his announcement, and to his reasoning.

Since I have often posted sundry trades I've done, I thought I'd pass this along.

I’m divesting from the US. I’ve already sold all my T-bills and sold (so far) 96% of my US stock positions including everything in my quant portfolio. I’ve converted the existing US cash to other currencies, and will convert the rest after trades settle

Whole thread:

His reasoning (follow-up to a question downthread:)
https://www.shrewdm.com/MB?pid=-2&previousPostID=342063280&number=12480

[I originally placed this on the macroeconomic board where I hang out a lot, but realized it’s more appropriate here.]

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From his Canadian citizenship and European residence, Mungo’s reasoning both makes sense and is a bit alarming.

He indicates that US markets are now in the “too hard” pile of investments, meaning he cannot understand what will drive investments up or down due to market instability driven by political action. His more personal reason is that he does not want to be the bad guy in his investments and he views the US market as part of the bad environment, again driven by current politics.

Quite a dramatic response to our situation.

Pete

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Well that may be true, politics is just an excuse. Over the years, he has consistently made bad takes, poor, faulty logic and shown love for cigar bu$$'s. Today in US market to make money, you need a growth investor mindset, not someone demanding I need 10 PE, and when you get that PE most often they are firms that are struggling very badly.

Even his one-trick Berkshire he is out (I presume on valuation) and Berkshire is thriving. A trader like me sees value in Berkshire, and I hold it at 5%. Go figure!

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