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.
I took a scalpel to my O holding, sending half to RQI, and the balance to PDT. RQI is a current holding, and I expect a greater degree of growth plus enhanced distribution when compared to O. PDT is a new holding, 50% in stocks (primarily utilities and some energy) plus the balance in fixed income (mostly preferred holdings plus bonds and some cash). This may be a bit squirrelly over the next 6 months as rates peak then level off as with any fixed income holding, but currently trades at a discount with a 9.15% monthly distribution.
Preparing to make our monthly contribution to David Giroux"s retirement fund, I mean TRAIX.
I've been in it since Nov. 2013. Through thick and thicker, it's served me well. Lately, when it's had a couple of very good days, I grabbed some small chunks and reassigned them into junk bond fund PRCPX. I'm growing that one. Letting TUHYX just ride. In hard dollars, I figure I've devoted enough to TUHYX already.
@Crash - just stumbled across one today that might be right up your alley NYCB.
Thanks, Mark. I will go and look. ....Looks marginally good. I'll keep an eye on it. My trusted website calls it a "HOLD" right now--- on the edge of "overweight." Down 3% today. My BHB has not been making me jump up and down with joy lately. To be expected, I suppose. 14% from target price after today.
Any green at all anywhere for anyone today? A sea of red. My only green is in my smallest position. No, make that my TINIEST position. JRSH. Dunno WHY. But I'll take it.
I bought XLF this morning against my better judgement. I hate investing in 'financials' and tend to ignore them in total BUT with tech moving up and almost all of the supposedly inflation resistant sectors (e.g. finance, energy, utilities, REIT's) moving down I'm taking a flyer. This will be a very short term trade at best.
I bought XLF this morning against my better judgement. I hate investing in 'financials' and tend to ignore them in total BUT with tech moving up and almost all of the supposedly inflation resistant sectors (e.g. finance, energy, utilities, REIT's) moving down I'm taking a flyer. This will be a very short term trade at best.
I'm waiting a while to let (Financials) PRISX recoup at least some of my unrealized losses in that fund. Then it will be redeployed. Tired of waiting for that beast.
Dollar cost average to buy BND. Think there are better opportunities with bonds this year - real yield at 4% plus bond price appreciation. Rate hike cycle is slowing and likely to plateau at some point this year. At that point, long duration bonds would be attractive to own.
Trimmed growth/tech stocks to boost dividend stocks and defensive sector funds. Think US will enter recession this year.
Hey @PRESSmUP... Oh I think I remember you mentioning that fund a couple of years ago as having great recovery from the financial crisis... Am I correct in that. It seems to me we are due for a rebound soon in financials as fear has been driving the narrative and just about everything has gotten hit in financials.
@MikeW ...I believe I said I had been watching it for a bit, given the fact that this specific CEF routinely trades at a premium. It's a solid fund with a good track record, so you need to catch it in a period where the premium recedes a bit. Searching the comments, I believe a few other folks are in this as well. KRE is the ETF in this same space. Are the regional banks in the clear? Who's to say. If the banks suffer, it will as well.
Schwab insiders broke open their personal piggybanks and bought a boatload. Both of your purchases will be bargains when you look back a few years from now. It's like when Jamie Dimon buys JPM stock. It's the ultimate insider play.
The jury is still out. If all of SCHW deposits leave, even to their MMF, the Bank's income will drop 50%. That will obviously crater the stock. They claim they have enough cash, Marked to sale securities and can borrow enough to fund this. If you believe them, maybe they will not go bankrupt.
I doubt all of the cash in the bank deposit program will leave, as a lot of it ( can't tell how much) is part of their asset management program where they force clients to keep a goodly amount in cash. But some will leave.
Given all of this you could argue that buying the stock is a bet that all the money that wants to leave has left. Still I wonder where the upside catalyst is.
Comments
We've been in PRWCX/TRAIX since 2006. Whenever I've strayed and cheated on David, it has just ended up costing us money.
Word to the wise. OK, thanks!
https://www.cnbc.com/2023/03/06/stock-market-today-live-updates.html
....Looks marginally good. I'll keep an eye on it. My trusted website calls it a "HOLD" right now--- on the edge of "overweight." Down 3% today. My BHB has not been making me jump up and down with joy lately. To be expected, I suppose. 14% from target price after today.
Trimmed growth/tech stocks to boost dividend stocks and defensive sector funds. Think US will enter recession this year.
The jury is still out. If all of SCHW deposits leave, even to their MMF, the Bank's income will drop 50%. That will obviously crater the stock. They claim they have enough cash, Marked to sale securities and can borrow enough to fund this. If you believe them, maybe they will not go bankrupt.
I doubt all of the cash in the bank deposit program will leave, as a lot of it ( can't tell how much) is part of their asset management program where they force clients to keep a goodly amount in cash. But some will leave.
Given all of this you could argue that buying the stock is a bet that all the money that wants to leave has left. Still I wonder where the upside catalyst is.
I didn't buy much!