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It's just a small bet on Schwab. I really don't see major problems there, insiders buying significantly, I guess that we'll just have to see what happens.
LOL - Funny. To be honest, I did a little “pruning” today (sold a bit). But by no means is that a bearish call.
Oh. I wouldn’t worry about Schwab’s survival. But financials / brokerages can be a bumpy ride. TRP nose-dived about 50% last year if I remember correctly.
I bought GS, JPM and MTB last week. I see longer term opportunities in financials.
I'm feeling the same way, though it's difficult to stay convinced, right about now. In my financials fund PRISX, I'm down since inception of the account by -17%. I'm faring better with my single-stock bet, BHB. Down since inception by -7.5%.
I thought a regional bank serving those quiet places in northern New England might be immune. But, no. Knock-on effect, surely. The stock is down by -21% at the moment, YTD. I smell bargain.
It looks like tremendous volatility for the remainder of 2023. If you are a great trader, maybe you can play the volatility to your advantage. The banking sector is so riddled with doubts, that the risk could be a lot of falling knives possibilities.
It looks like tremendous volatility for the remainder of 2023. If you are a great trader, maybe you can play the volatility to your advantage. The banking sector is so riddled with doubts, that the risk could be a lot of falling knives possibilities.
Well, no. I know enough to know that's not my style. If I tried moving in and out that way, I'd just lose my shirt. It might work for some people.
@Crash If you only lost your shirt , you'd be one up on me & my shorts !
Giggle. Ya, it's not been pretty. But it's the only game in town. I'm investing for heirs, anyhow, at this point. The day to day stuff is interesting to track. Retirement is fabulous to me.
I've been watching RSI for all my stocks and ETFs and really for me nothing is worth adding to right now. By 'buy' I just mean significantly below mid point. Things were more attractive 3 or 4 weeks ago.
My biggest mental obstacle has always been the fear of missing out, buying when things have gone up already. I'm trying to stay more disciplined.
Started a position in OMFL. No good reason other than it has beaten the S&P500 for total return over the last 5 years.
Interesting...OMFL has beaten the S&P 500 in each 1 of those 5 calendar years. Year OMFL S&P 500 2018 -2.57% -4.52% 2019 35.58% 31.33% 2020 20.96% 18.25% 2021 28.96% 28.53% 2022 -13.97% -18.23% 2023 (YTD) 8.78% 7.46%
@Mark: interesting fund. I note that turnover on 307 positions clocks in at 336%. That's a lot of trading. I assume the ETF structure enables the managers to keep distributions in check.
@BenWP, @JD_co to be fair had I been thinking right I suppose I should have compared OMFL to a more appropriate benchmark i.e. the Russell 1000 index. Those comparisons are a bit mixed but still reflect well on the fund. Attached is a link to the fund's Fact Sheet.
I just compared the top holdings as of 12/31/2022 with the holdings as of 3/31/2023 per Fidelity website. Totally different-so much that I thought I was comparing 2 different funds-AAPL XOM BRK and MSFT currently among top holdings.
Comments
It's just a small bet on Schwab. I really don't see major problems there, insiders buying significantly, I guess that we'll just have to see what happens.
Oh. I wouldn’t worry about Schwab’s survival. But financials / brokerages can be a bumpy ride. TRP nose-dived about 50% last year if I remember correctly.
Good luck with your buy, Derf
In my financials fund PRISX, I'm down since inception of the account by -17%.
I'm faring better with my single-stock bet, BHB. Down since inception by -7.5%.
I thought a regional bank serving those quiet places in northern New England might be immune. But, no. Knock-on effect, surely. The stock is down by -21% at the moment, YTD. I smell bargain.
My biggest mental obstacle has always been the fear of missing out, buying when things have gone up already. I'm trying to stay more disciplined.
Oh, my. I hear every word of that.
Low RSIs now can be found in financials (of course, banks) and small-caps.
https://seekingalpha.com/article/4592585-charles-schwab-not-in-charge
Year OMFL S&P 500
2018 -2.57% -4.52%
2019 35.58% 31.33%
2020 20.96% 18.25%
2021 28.96% 28.53%
2022 -13.97% -18.23%
2023 (YTD) 8.78% 7.46%
OMFL Fact Sheet
@BenWP - regarding the funds distributions that was my assumption as well.