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Again, not panicking just watching. Some ROC is okay, some destructive ROC is tolerable ... I just want to poke around more before diving back into CEFs.
”a sudden 60% in ROC after a long period of relatively little was something worth noting.”
Yeah - Agree!
Cohen & Steers where I’ve had a couple investments plays the ROC game with at least some of their funds. It’s covered by prospectus and amounts to a tax-dodge for those investing in taxable accounts (less reportable income). Bothered me at first, but in this instance it does not / did not appear to be destructive to the fund’s performance - at least to a significant degree.
My K-1 divs are tax free, too. Should it be that way? I've always had questions about the ins-and-outs of the tax code. Arcane, complicated, silly.
If you refer to MLP distributions, they're tax-deferred since they reduce your basis over time. Once your basis reaches 0, they get taxed at regular dividend rates -- which is partly why some buy them and *never* sell them, and imo a pretty good deal, especially if you are DRIPPING them.
Yes. Energy Transfer. Ticker ET. Obviously, you know more than I do about that.
Once my cost basis reaches zero, the divs are taxed? Does that mean, in other words, when my gain is equal to 100%? If the value doubles, the shares have paid for themselves, eh? Sorry if that's a silly question. My gain is already approx. +60% currently. I'm technically not DRIP-ing them, because Chucky takes their sweet time to actually reinvest the div, and often not at a favorable share price. But I often reinvest the profit on my own. I like to use limit orders.
What @rforno says about the “dividends” is true. My father-in-law received physical checks from such energy partnerships as well as regular stock dividends. Family members recall him running down to the mailbox just after mail delivery to grab his checks, lest someone pilfer the mail. Those were the days preceding electronic trading and, most importantly, electronic brokerage record keeping. Upon his demise, it was necessary to report to the green-eyeshade types the current value, and the cost basis, for each holding. It turned out that the filing system was a pile of Manila file folders with a record, in pencil, of each periodic payout. Since each payout from a LMP reduces the cost basis of the security, up to 100%, the family paid for more than a little forensic accounting and lawyering. Payment of income taxes was obviously delayed, at least from the perspective of the deceased, but someone else got stuck with the chore of reporting to the IRS. Taxes delayed ain’t necessarily good for everyone.
Last week I sold out of PONAX and WCPNX...leaving OSTIX, JPIE, NEAR, PDI and a handful of muni's in the taxable account as the current bond positions. The fluctuation of interest rates is unsettling.
Osterweis is having their quarterly webinar to discuss OSTIX this afternoon at 1:00PM, and depending on how that goes, I just may allocate to them the totals from recent sales. The performance of OSTIX has been very solid despite the noise.
Do have GEV shareholders in the forum? I sold some shares $50 below the current price thinking it is way overpriced. If any one has an insight into its valuation, please share.
What @rforno says about the “dividends” is true. My father-in-law received physical checks from such energy partnerships as well as regular stock dividends. Family members recall him running down to the mailbox just after mail delivery to grab his checks, lest someone pilfer the mail. Those were the days preceding electronic trading and, most importantly, electronic brokerage record keeping. Upon his demise, it was necessary to report to the green-eyeshade types the current value, and the cost basis, for each holding. It turned out that the filing system was a pile of Manila file folders with a record, in pencil, of each periodic payout. Since each payout from a LMP reduces the cost basis of the security, up to 100%, the family paid for more than a little forensic accounting and lawyering. Payment of income taxes was obviously delayed, at least from the perspective of the deceased, but someone else got stuck with the chore of reporting to the IRS. Taxes delayed ain’t necessarily good for everyone.
Oh, dear. Quite a story. As for inheriting MLP units: we always use the same tax professional, anyhow. She ought to be able to provide any IRS-required numbers without any trouble, eh? The difference between true dividends and return of capital takes a bit of thinking-through.
@Observant1 What drives you to purchase addition share of this fund? A quick look on yahoo fin. shows it to be running "way behind" in the category over 1 & 3 years!
@Observant1 What drives you to purchase addition share of this fund? A quick look on yahoo fin. shows it to be running "way behind" in the category over 1 & 3 years!
If I may opine here, when I look to buy a new car, computer, piece of furniture I don’t just focus on the ones that have risen the most in price over the last 3 years. I sometimes apply the same logic to buying financial products, But perhaps I have it all backwards,
@Observant1 Thanks for that info. Looks like I need to look into further. I also have a toe hold in that fund. I guess I took Davids advice. @hank I also have to look down the line & forgo the high priced models,funds. Stay warm , Derf
Citigroup has had a nice run over the last 2 years as Jane Frasier's realignment of the firm is bearing fruit. I sold my IRA position in C and will be adding JAAA at month end. Citigroup maintains its position in my taxable account.
Sold part of my ”tread water” funds (CVSIX / LPXAX) yesterday. Reestablished a position in GAA this morning at open. Had sold it 2-3 months ago and it’s off a couple percent since then. This should raise my equity exposure from 33% to around 40%. I’m betting that the dollar will weaken in the coming year, helping foreign stocks. I like first class flights and $80 scotch. 33% in equities just doesn’t cut it.
Sold TRP for a 33% gain overnight. Will buy it back once the nonsense between Orangina and Canada over tarrifs gets worked out. (Also why I'm holding off buying PAGP since they've got large cross-border exposure.)
Planning to buy MPLX at some point if it comes down, but have order for AMLP instead.
Bought back into TDS-V for QDI. May buy back into SR-A as well.
Placed a lowball spec order for some shares in a levered SPX bear ETF (I'll probably need the capital loss at some point if history turns out as it usually does for me with these things.)
Also eyeballing some other stuff, but no orders placed yet.
Stack advised followers to iniatiate a 3% position in 1X Inverse S&P over the weekend. I’ve found his timing calls of questionable value. Did not indulge.
I did consider BISAX (Foreign Small/Mid Value) and several other funds but decided to go with ARDBX instead. Both ARDBX portfolio managers previously worked with David Samra at ARTKX. Mr. Samra (along with others) produced excellent long-term returns with moderate risk at ARTKX. ARDBX implements a similar investment process and Samra serves as a Managing Director but doesn't make any buy/sell decisions. I don't like the fund's high expense ratio (somewhat common for Artisan) but this is an auxillary position for me. We'll see how it fares over longer time periods...
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https://investor.vcm.com/products/mutual-funds/mutual-funds-list
https://api-funds.paralel.com/download_resource/?id=6372&ticker=UTG
DNP is also spitting out huge ROC in December - 83% of current distro.
https://www.dpimc.com/assets/files/jd/dnp_19anotice-1-9-25.pdf
Again, not panicking just watching. Some ROC is okay, some destructive ROC is tolerable ... I just want to poke around more before diving back into CEFs.
Yeah - Agree!
Cohen & Steers where I’ve had a couple investments plays the ROC game with at least some of their funds. It’s covered by prospectus and amounts to a tax-dodge for those investing in taxable accounts (less reportable income). Bothered me at first, but in this instance it does not / did not appear to be destructive to the fund’s performance - at least to a significant degree.
Once my cost basis reaches zero, the divs are taxed? Does that mean, in other words, when my gain is equal to 100%? If the value doubles, the shares have paid for themselves, eh? Sorry if that's a silly question. My gain is already approx. +60% currently. I'm technically not DRIP-ing them, because Chucky takes their sweet time to actually reinvest the div, and often not at a favorable share price. But I often reinvest the profit on my own. I like to use limit orders.
Osterweis is having their quarterly webinar to discuss OSTIX this afternoon at 1:00PM, and depending on how that goes, I just may allocate to them the totals from recent sales. The performance of OSTIX has been very solid despite the noise.
USAA mutual funds moved (were sold?) to Victory.
USAA brokerage accounts (non USAA fund holdings) were transferred (sold) to Schwab.
I moved out of USAA funds during this time frame.
USAAX, USNQX, USAUX seem to have great performance at reasonable ERs (Aggressive)
USBLX compares well with VTMFX (tax managed balance funds)
Do have GEV shareholders in the forum? I sold some shares $50 below the current price thinking it is way overpriced. If any one has an insight into its valuation, please share.
ARDBX has an inception date of 05/16/2022 so it does not yet have a 3 year history.
2023 performance - top 8% return in Foreign Small/Mid Blend category
2024 performance - top 11% return in Foreign Small/Mid Blend category
https://www.morningstar.com/funds/xnas/ardbx/performance
@David_Snowball wrote about ARDBX in Sept. 2023.
https://www.mutualfundobserver.com/2023/09/artisan-international-explorer-ardbx-arhbx/
@hank I also have to look down the line & forgo the high priced models,funds.
Stay warm , Derf
1) Bought a S/T, High Yield fund - RMSIX. Low SD so far.
2) Bought FDUAX - First Eagle Short Dur High Yield Muni.
Both yield just over 4%. Boring as heck, but no Federal tax.
Sold TRP for a 33% gain overnight. Will buy it back once the nonsense between Orangina and Canada over tarrifs gets worked out. (Also why I'm holding off buying PAGP since they've got large cross-border exposure.)
Planning to buy MPLX at some point if it comes down, but have order for AMLP instead.
Bought back into TDS-V for QDI. May buy back into SR-A as well.
Placed a lowball spec order for some shares in a levered SPX bear ETF (I'll probably need the capital loss at some point if history turns out as it usually does for me with these things.)
Also eyeballing some other stuff, but no orders placed yet.
+1 Congrats @rforno on the 33% gain.
Added My LS fund (CPLSX) has been behaving like an inverse fund the past several weeks. So, in a sense, I do have some shorts on.
It's arguably Best in (That) Class since its inception on 01/31/12.
Growth of $10K since ARDBX inception** on 05/16/22:
BISAX: $12,361
ARDBX: $10,609
** = See also (albeit very dated) https://www.mutualfundobserver.com/?s=bisax for additional MFO review of BISAX.
@rforno TRP ?
Both ARDBX portfolio managers previously worked with David Samra at ARTKX.
Mr. Samra (along with others) produced excellent long-term returns with moderate risk at ARTKX.
ARDBX implements a similar investment process and Samra serves as a Managing Director
but doesn't make any buy/sell decisions.
I don't like the fund's high expense ratio (somewhat common for Artisan) but this is an auxillary position for me.
We'll see how it fares over longer time periods...