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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
  • Bigtime SECTOR Rotations
    This is why I have owned one stock in part BA-Boeing for 45 years and will never sell it. I am also 87 in April. There were times when I owned a great deal more.
  • A Bitcoin / Cryptocurrency thread & Experiment
    @royal4 you’re right about the threat of country’s starting their own digital currency and I would never buy non fungible assets but something is afoot...why not try and make something of it? https://www.bostonglobe.com/2021/03/25/business/fidelity-plans-big-bet-bitcoin/
  • A Bitcoin / Cryptocurrency thread & Experiment
    A counter point from Ray Dalio ... https://finance.yahoo.com/news/ray-dalio-on-bitcoin-and-probability-of-ban-130008375.html
    Biggest threat is governments outlawing Bitcoin. That said, much smarter people than I are adding it to their Arsenal. Fidelity is close to adding a crypto ETF. As more institutions and companies embrace crypto... I can’t imagine they haven’t investigated this threat. Bitcoin managed just fine today with the options expiring. So far, I’m still positive with my 1K. Having fun with it. Will post an update when it’s worthwhile.
  • Shipping News: Suez Can't -at-all
    image image
    It's being reported that there are no cranes in the area large enough to off-load these containers. The only possibility is to use helicopters. That shouldn't take too long. NPR is reporting that Lloyd's List estimates that the waiting game is costing $9.6 billion per day.
    Link to NPR article
  • Guinness Atkinson Asia Pacific Dividend Builder and Dividend Builder Funds converted to ETFs
    https://www.sec.gov/Archives/edgar/data/919160/000139834421007074/fp0063825_497.htm
    497 1 fp0063825_497.htm
    GUINNESS ATKINSON FUNDS
    Guinness Atkinson Asia Pacific Dividend Builder Fund (GAADX)
    Guinness Atkinson Dividend Builder Fund (GAINX)
    SUPPLEMENT DATED MARCH 26, 2021
    This Supplement provides new information beyond that contained in the currently effective Summary Prospectus dated May 5, 2020, Prospectus, and Statement of Additional Information (“SAI”) each dated May 1, 2020, as supplemented, for each of the Funds identified above.
    Effective March 29, 2021, each of the Guinness Atkinson Asia Pacific Dividend Builder Fund (GAADX) and the Guinness Atkinson Dividend Builder Fund (GAINX) are no longer available for purchase. The funds were converted into exchange traded funds (“ETFs”) on March 26, 2021. The names of the successor ETFs are SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and SmartETFs Dividend Builder ETF (DIVS), and each ETF is listed for trading on the NYSE Arca stock exchange.
    For further information, you may contact the funds at 1-800-915-6566 or visit the funds website at www.gafunds.com. You can also call the SmartETFs customer service line at 866-307-5990 or visit the SmartETFs website at www.SmartETFs.com.
    For each Fund, this Supplement, the existing Prospectus and SAI provide relevant information for all shareholders and should be retained for future reference. Each Fund’s Prospectus and the SAI have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling the Fund toll-free:
    Guinness Atkinson Funds (800) 915-6566
  • Investing in the Gig Economy - GIGE
    Kind of what happens as an end result when you ship all your decent paying jobs overseas over the period of 20-30 years...ya'll left with a BS economy...selling weed for tax revenue, working at fast food joints, driving UBERs...and the good paying jobs are either in overpriced health care segment or developing apps that society would arguably be better off without and wouldn't miss them if they didn't exist, keeping rates low so mortgage finance officers can make bank and realtors and local tax districts can suckle of the false teet of overprice real estate....so you get what I would call instead of EXPLOIT...BSECONO....
    Side Note: Love how many of the folks who run for local office on school boards etc, state they own their own business...I always ask them, very nice, congrats...how many associates do you employ, what kind of budget did you manage, what were your revenues over the past threee years...oh...so really you were a free lance graphic artist working on average 25 hours a week...
    Get used to it...if the real economy was real sound, you wouldn't have folks particpating in these BS, screw the worker grunt, no bennies, while exec's make bank types of companies. They would get laughed out of existence.
    But...we like it, don't we, we all buy from Bezos, squeezing local merchants and like our UBERs don't we?
    Baseball Fan
  • Investing in the Gig Economy - GIGE
    What is the Gig Economy?The “gig economy” refers to the group of companies that embrace, support or otherwise benefit from aworkforce where independent consultants, contractors, temporary or on-call workers are empowered tocreate their own freelance business by leveraging recent developments in technology platforms thatenable individuals to offer their services directly to retail and commercial customers.
    SOFI ETF GIGE
    Interview with the manager:
    https://theirrelevantinvestor.com/2021/03/26/20543/
  • Finally, what I've been trying to do for decades....Have a "defined positive outcome".
    Three times the upside and only one times the downside. Finally, the ultimate plan has been presented.
    I can't wait and probably you, too. :) :) :)
    Have a pleasant day.
    Catch
    Innovator etf's
  • Shipping News: Suez Can't -at-all
    image
    For some sense of size:
    The pictured tug boat Baraka 1 is 69 meters long (226 ft.) with a beam (width) of 16 meters or 50.5 feet. That makes the tug boat substantially larger than a typical 180’ long great lakes Coast Guard cutter like the USCGC Sundew. (pictured).
    No idea how to free this. I’d call Elon Musk for ideas. The bill will be huge. More experience with ships stuck in ice in this region than in sand. In ice they try to shift weight side to side and rock the boat. But here ..... :)
  • Shipping News: Suez Can't -at-all
    Not necessarily the Captain. During canal transit the ships are all under the control of local pilots, supposedly specially trained and qualified to handle the tight passage and the heavy winds which are frequent in the area.
    The banks in the area where the ship is located are nothing but sand, and are already crumbling where the ship impacted the bank.. How would you even get the type of huge cranes necessary for handling loaded containers there?
    This morning's WSJ has some good pics and lots of detailed info on the situation.
    The Captain is always responsible. It's an ancient rule. It was the Captain's decision to sail under the prevailing conditions. The captain is also responsible for making sure there were enough tugs to handle prevailing conditions.
    Pilots might face some blow-back depending on local regulations, and the result of drug and alcohol testing. Check out the Cosco Busan incident from a port near you. What happened to Capt. Cota was actually sort of a new development in the US industry at the time.
    Given the current timeline, and economic impact, I'm really surprised they don't already have lift capacity installed on barges. It's not like all those containers are filled with lead. They certainly wouldn't need a lot of fancy tech to offload fuel and ballast.
    The BBC makes it sound hard. But somebody has a manifest. And there are people that specialize in loading and unloading container ships so that they don't tip over when they're along side. Which this ship essentially is.
  • DGHM MicroCap Value Fund to be liquidated
    https://www.sec.gov/Archives/edgar/data/1396092/000138713121003897/dghm-497_032521.htm
    497 1 dghm-497_032521.htm SUPPLEMENT DATED MARCH 25, 2021
    DGHM MicroCap Value Fund
    Investor Class Shares (DGMMX)
    Institutional Class Shares (DGMIX)
    Supplement dated March 25, 2021
    to the Prospectus and Statement of Additional Information (“SAI”),
    each dated June 29, 2020
    The Board of Trustees (the “Board”) of World Funds Trust (the “Trust”) has approved a Plan of Liquidation (the “Plan”) for the DGHM MicroCap Value Fund (the “Fund”), which became effective on March 25, 2021. Dalton, Greiner, Hartman, Maher & Co., LLC (the “Adviser”) recommended that the Board approve the Plan due to a diminished asset base and correspondingly rising expenses of the Fund, which the Adviser has indicated that it is no longer willing to continue to subsidize. As a result, the Board concluded that it is in the best interest of the Fund’s shareholders to liquidate the Fund. The Fund is expected to liquidate on or about April 26, 2021 (the “Liquidation Date”).
    Effective March 25, 2021, the Fund was closed to new and subsequent investments. Until the Liquidation Date, Fund shareholders may continue to reinvest dividends and distributions in the Fund or redeem their shares. Any remaining shareholders on the Liquidation Date will receive a distribution of their remaining investment value in the Fund based on the instructions listed on your account. The sale or liquidation of your shares will generally be a taxable event. You should consult your tax advisor about your tax situation.
    As shareholders redeem shares of the Fund between March 25, 2021 and the Liquidation Date, the Fund may not be able to maintain its stated investment goal and other investment policies. Accordingly, the Fund may deviate from its stated investment goal and other investment policies during the period between March 25, 2021 and the Liquidation Date.
    If you have questions or need assistance, please contact your financial advisor directly or the Fund toll-free at 1-800-673-0550.
    This Supplement and the existing Prospectus provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the SAI have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling the Fund toll-free at 1-800-673-0550.
  • Just discovered (single stock prospect: AQN)
    @Crash (and others)—they also have two preferred shares, AQNA (~6.2% yield) and AQNB (just over 5.5%), that offer yields above the common (which yields 3.94%). The -A preferred is call protected until 2023, at which time it will either float its dividend rate, or be called, and the -B preferred until 2024. Just a couple of options to consider :)
    I think utilities that are already into renewables, such as AQN, will be rewarded in the future, as they will be ahead of the curve, similar to TSLA having a very large head start over the traditional car makers. Some others to look at are NextEra Energy, NEE, and Dominion, D, which sold off a pipeline last year in an effort to pivot to more “green” power generation/distribution.
    I had forgotten about AQN, Crash....thanks for bringing it up! And not trying to take over the thread, but the “renewablization” of utilities is something I think the 2020’s will bring also!
  • FRIFX , VGSIX, VGPMX and Other Steady Eddys
    POAGX fell 35.34% and currently is up 26.13% over it's March 2020 high.
    MGGPX fell 27.28% and currently is up 39.14%.
    Not sure if they qualify as steady eddys but it works for me.
  • FRIFX , VGSIX, VGPMX and Other Steady Eddys
    Since February 2020 FRIFX has bounced back close to even from its 35% draw down.
    VGSIX fell 43% and has clawed back all but 5% of its draw down.
    YTD they both have had steady returns of:
    FRIFX up 6.27% with very little volatility
    VGSIX up 10.77%
    On a short term (1 month basis), many of my funds are testing their early March 2021 lows today while the RE sector holds steady.
    Other sector funds holding steady:
    VGPMX & PRNEX - Natural Resource
    Any other steady eddys in equity / bond land?
  • Goldman Analysts Claim Inhumane Working Conditions
    @hank, I weep for these people.
    I had a discussion with a proud recent college grad once, who told me he was about to head off to GS, to make a big salary in NY. I asked him if he divided his salary by 2 (to account for the fact that he would be working 80+ hour weeks), and then discounted the halved amount by 10-15% to account for the increased cost of living, if he was making all that much.
    He looked at me stunned and said: "no, not really".
    I then asked him how much cool stuff he thought he'd be able to do in NYC when he was working 80+ hour weeks.
    He was, as you might imagine, stunned again.

    har
    This also shows he does not have the macro / contextual analytical skills for the job, really, either....
    kids today.
    One of mine works for the most 'prestigious' consulting firm, in the news recently for reasons not at all good, and it's pretty much the same as to labor quantity (and he's not close to entry-level either). Eesh, you could not pay me to do that, nor have so paid me in the past.
  • Goldman Analysts Claim Inhumane Working Conditions
    @hank, I weep for these people.
    I had a discussion with a proud recent college grad once, who told me he was about to head off to GS, to make a big salary in NY. I asked him if he divided his salary by 2 (to account for the fact that he would be working 80+ hour weeks), and then discounted the halved amount by 10-15% to account for the increased cost of living, if he really thought was making all that much in the end.
    He looked at me stunned and said: "no, not really".
    I then asked him how much cool stuff he thought he'd be able to do in NYC when he was working 80+ hour weeks.
    He was, as you might imagine, again taken aback.
  • Selective Opportunity Fund to liquidate
    update:
    https://www.sec.gov/Archives/edgar/data/1199046/000139834421006921/fp0063764_497.htm
    497 1 fp0063764_497.htm
    SELECTIVE OPPORTUNITY FUND
    Supplement to the Prospectus
    and
    Statement of Additional Information
    dated April 29, 2020
    Supplement dated March 24, 2021
    In a Supplement dated February 26, 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”).
    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. Effective immediately, the Fund will no longer pursue its investment objective and may begin to liquidate the holdings in its portfolio. The Fund expects that all holdings will be liquidated by April 12, 2021. The proceeds of liquidated holdings will be invested in money market instruments or held in cash.
    Any capital gains will be distributed as soon as practicable to shareholders and reinvested in additional Fund shares, unless you have 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.
  • Riverbridge Eco Leaders Fund to be reorganized
    https://www.sec.gov/Archives/edgar/data/1318342/000139834421006924/fp0063752_497.htm
    497 1 fp0063752_497.htm
    Riverbridge Eco Leaders Fund
    Investor Class (Ticker Symbol: ECOLX)
    Institutional Class (Ticker Symbol: RIVEX)
    A series of Investment Managers Series Trust (the “Trust”)
    Supplement dated March 24, 2021, to the
    Prospectus, Summary Prospectus and Statement of Additional Information (“SAI”),
    each dated April 1, 2020, as supplemented.
    Effective as of the close of business on March 26, 2021 (the “Effective Date”), the Riverbridge Eco Leaders Fund (the “Fund”) is closed to all investment and no new purchases of shares will be accepted, either from current Fund shareholders or from new investors. In addition, as of the close of business on the Effective Date, shares of the Fund cannot be exchanged for shares of the Riverbridge Growth Fund and shares of the Riverbridge Growth Fund cannot be exchanged for shares of the Fund. Existing shareholders may continue to redeem Fund shares. If all shares of the Fund held in an existing account are redeemed, the shareholder’s account will be closed.
    As previously disclosed, the Board of Trustees of the Trust approved an Agreement and Plan of Reorganization (the “Plan”) providing for the reorganization of the Fund into the Riverbridge Growth Fund, a separate series of the Trust with the same investment objective, substantially similar investment strategies and the same portfolio management team as the Fund. The reorganization of the Fund is subject to approval by its shareholders.
    The Trust has called a shareholder meeting at which shareholders of the Fund will be asked to consider and vote on the Plan. Shareholders of the Fund have been provided with a combined prospectus/proxy statement with additional information about the shareholder meeting and the proposed reorganization. The shareholder meeting has been adjourned to April 23, 2021. If shareholders of the Fund approve the reorganization, the reorganization is expected to take effect on April 30, 2021.
    Please file this Supplement with your records.