Made my first forray into anything crypto-related, buying a bunch of BFARF at $5 at the opem before it closed up nicely. Just got approved to list on the NASDAQ the other day, so I expect it will pop given retail interest and make for some nice cap gains once the ticker changes. This is a total spec play on my part -- the company is a Canadian-based crypto miner that looks pretty decent vs its peers, so ... we'll see what happens.
I don't own any cryptocurrency and think the proliferation of 'exchanges' is too crowded a field to figure out who's got an edge. But this 'mining' company at least I understand a bit and feel it's useful on the 'back end' of the crypto mania -- eg, crypto infrastructure -- and seems one of the better ones at that.

RLSFX +.70%, HMEAX +.15%, CLMAX +.09%

Update:
https://www.sec.gov/Archives/edgar/data/1199046/000139834421010241/fp0065409_497.htm
497 1 fp0065409_497.htm
SELECTIVE OPPORTUNITY FUND
Supplement to the Prospectus
and
Statement of Additional Information
dated April 29, 2020
Supplement dated May 11, 2021
In Supplements dated February 26, 2021 and March 24, 2021, we notified you that the Board of Trustees has determined that it is in the best interest of shareholders to liquidate the Selective Opportunity Fund (the “Fund”), that as of February 26, 2021, the Fund is no longer accepting purchase orders for its shares, and that the Fund will close effective June 21, 2021 (the “Closing Date”). We are now notifying you that the Closing Date has been changed to May 21, 2021.
Shareholders may redeem Fund shares at any time prior to the Closing Date. Procedures for redeeming your account, including reinvested distributions, are contained in the section “How to Redeem Shares” of the Fund’s Prospectus. Any shareholders that have not redeemed their shares of the Fund prior to the Closing Date will have their shares automatically redeemed as of that date, with proceeds being sent to the address of record. If your Fund shares were purchased through a broker-dealer and are held in a brokerage account, redemption proceeds may be forwarded by the Fund directly to the broker-dealer for deposit into your brokerage account.
In the Supplement dated February 26, 2021 we notified you that the Fund will continue to pursue its investment objective through the Closing Date. In the Supplement dated March 24, 2021 we notified you that effective immediately, the Fund will no longer pursue its investment objective and may begin to liquidate the holdings in its portfolio. As of the date of this Supplement, all portfolio holdings have been liquidated and the proceeds of the liquidated holdings are invested in money market instruments or are held in cash.
Any capital gains have been distributed to shareholders and reinvested in additional Fund shares, unless you requested payment in cash.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax adviser regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account (IRA) or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another IRA within 60 days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you are the trustee of a qualified retirement plan or the custodian of a 403(b)(7) custodian account (tax-sheltered account) or a Keogh account, you may reinvest the proceeds in any way permitted by its governing instrument.
* * * * * *
This Supplement and the Prospectus provide the information a prospective investor should know about the Fund and should be retained for future reference. A Statement of Additional Information dated April 29, 2020 has been filed with the Securities and Exchange Commission and is incorporated herein by reference. You may obtain the Prospectus or Statement of Additional Information without charge by calling the Fund at (434) 515-1517 or visiting www.selectivewealthmanagement.com.

Up up & away for month of May, 15.72% !!
Derf

I bought into BIVRX in early-mid 2020. Fund has done really well! Fund is up 57% according to this link (long-short equity) category.
https://www.morningstar.com/funds/screener-rank
Initial investment is $5K for investor class, but must maintain minimum balance of $1K afterwards in a taxable account (prospectus link below).
https://www.sec.gov/Archives/edgar/data/1518042/000158064221000788/invenomic485b.htm.
Check out the prior assessments by David:
https://www.mutualfundobserver.com/2019/05/balter-invenomic-bivrx-bivix-bivsx/
which changed to Invenomic:
https://www.mutualfundobserver.com/2019/10/invenomic-fund-bivrx-bivix-bivsx/
From one of the assessments:
The manager is Ali Motamed. Before launching Invenomic Capital, Mr. Motamed was a Senior Analyst and a Portfolio Manager with Robeco Investment Management (2003-15) where he co-managed Boston Partners Long/Short Equity Fund (BPLEX) and a related strategy. He was awarded Portfolio Manager of the Year in the Alternatives Category by Morningstar in 2014.
Found this link from Ted back in September 2019:
https://www.fa-mag.com/news/mining-the-short-side-51224.html?print

Do like commentary from JC Parents, all star charts blog re when to buy after a market wham-o drawdown....after the pull back, buy on the way UP when the % of NYSE stonks above 200 moving day ave gets back above 15%
Who knows if this will work next go round??
Best,
Baseball Fan

Based on recent performance, at least this fund is not afraid to place its bets. BIVRX is up over +3.1% today. Most long-shorts don't ACTUALLY do much shorting. Ever. So at least BIVRX has something going for it in that sense. Its not a typical L/S, other than its Expense Ratio.
This fund can be wild (look at the YTD chart!!!) and non-conventional, so I'd keep any allocation % low. Real low. Like, "how much you could afford to lose in Vegas and not really care" low. If the PM can keep this up, it should attract a lot of new $$$. It's nimble at only $265M in Assets.
Fun stuff. Their recent bets have been paying off.

@BenWP - You can’t go wrong with RPGAX, IMHO. I expect it to lag a while until the dollar eventually weakens. Then the international exposure will begin to help. That said, the fees are high on it. FWIW - My equity exposure isn’t high and is primarily divided among RPGAX, DODBX and PRWCX.
Re TMSRX ... It isn’t intended to be a stand-alone investment. Those who put a lot of faith in their self-designed allocation models can benefit by using it as an offset / hedge against other risk assets they hold - or possibly as a diversifier. I believe all the fund houses, including TRP, tell you their funds aren’t intended to be stand-alone investment# - but in the case of TMSRX it’s really true.
And just noticed M* gives TMSRX a 4-star rating. LOL - that’s nuts (and I own it). IMHO it hasn’t been around long enough to rate. And trying even to rate a fund like this would seem tantamount to telling the wind to stop. Give it 5 years minimum and see what kind of personality it develops in many different market environments.

John Authers wrote the following informative article about David Swensen.
Link

Has anyone seen ttd, the trade desk stock today. What's up, down over 25%? I'd be real careful if I owned arkk, Cathy wood investments here.... not sure if she holds this stock but does the same ilk and could be a tell of what's to come
Katy, I mean Cathy bar the door??
Baseball fan

Was anyone aware at the time that DODBX has been shorting the S&P 500? Just uncovered that tidbit last evening in reading their December 31, 2020 report. Helps explain why the fund’s been stomping a lot of otherwise fine competitors this year.
“Given our analysis, we initiated a short S&P 500 futures position in the first half of 2020 which had a notional value of approximately -6.6% of the Fund’s total net assets by year end. We are excited about the prospects for the Fund’s equity portfolio, but less excited about the overall equity market (e.g., the S&P 500). In shorting equity index futures, we are able to manage the overall equity exposure of the Fund while still maintaining idiosyncratic exposure to the companies we favor.”
https://www.dodgeandcox.com/pdf/shareholder_reports/dc_balanced_annual_report.pdf
- Excuse D&C’s self-promotion here. Hard to edit it out without distorting the underlying meaning.

Heights make me dizzy. Sold off a (partial) chunk of PRPFX today (mentioned previously in the still running inflation thread). +20% YTD and +56% for 1 year. Owns companies that deal in commodities, real estate, natural resources. As such, it’s more closely tied to equity markets than is BRCAX which I also own.
Split the $$ between TMSRX (a fund so universally disliked it can’t be too bad) and PRELX which I view as a safe (well ... safer) haven until the commodity craze settles down. By the time everybody and his brother fall in love with the commodity sector it’s probably a good time to lighten up a bit.

https://www.wsj.com/articles/bombardier-says-u-s-doj-has-requested-information-on-indonesian-jet-deals-11620422514?mod=hp_minor_pos10
BDRBF is owned by these entities, as reported by Morningstar:
https://www.morningstar.com/stocks/pinx/bdrbf/ownership

Yes, by all means! In fact, I think people should take out a second mortgage and plow it all into
Scheißcoin while it's still below $0.005! Tell r/WSB, this one is going to the moon! /ducks

Should I buy now while it's still above $.50? Also, does anybody have some tulips they can sell me? Name your price.

Should I buy now while it's still above $.50? Also, does anybody have some tulips they can sell me? Name your price.

Screw SNL and screw Dogecoin. What a farce, both of them.

If you want to invest, don’t discount any media - however lowly. All have the capacity to move markets in the crazy era we live in. So, turning a blind eye is not in your best interest.
I agree that SNL hasn’t been good for more than a decade. But numerous media outlets (including CNBC) are today reporting a drop of 25-30% in Dodgcoin after Musk’s errant attempt at humor. And the rush to sell Dodgcoin was so great during the show that some popular trading platforms broke down - affecting real investors. Fake show. Fake crypto. But real money folks. Don’t know about you, but when I buy something, the seller rarely asks how I came into the cash. Lame as SNL has become, I’ll take it ahead of NBC’s Apprentice. And look at what emerged from that fake program’s cast and how it altered the course of racial, economic, social and democratic progress in this country (for the worse).

ha, good line, and good to remember
Someone posted recently the decade-plus it took for breakeven from that peak (for gogo tech anyway) ... only (only) 6y+ for SP500.
Completely OT --- can anyone explain why M* gives 4* to FXAIX and 5* to the faintly underperforming VOO?

>> I wonder if you took ER/fees into account... how those net results would look vs the index.
Why on earth would you think the comparison did NOT take those into account? Seriously.
http://performance.morningstar.com/fund/performance-return.action?t=TRBCX&region=usa&culture=en-US
For 15y it's 12.8% vs 10.3%
(LG is 11.2% fwiw)
Stuck with growth and avoided the worst of drops (sounds so easy)

Very impressive results: “Through April 30, the $102 billion Blue Chip Growth had returned an annualized 12.2% during his tenure, versus the S&P 500’s 10.5%”
I wonder if you took ER/fees into account... how those net results would look vs the index.
In the story, he spoke highly of indexing. Interesting.

A Barron's conversation with the soon to be retired manager of TRBCX.
Link
Note: I'm able to access this article without a Barron's subscription.