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.
Bought a handful of SPXS calls on today's pop higher to accompany my tiny stock position in this leveraged short SPX fund. Total at-risk: $450
After this week's action, I don't trust this afternoon's modest rally heading into a weekend of continued tariffing, waffling, bloviating, and tweeting...
(I have a good chunk of profits already locked in for 2025, so I can speculate a bit if I want)
A day reminiscent of Michael Jackson’s ”ABC - 123” song lyrics.
(Around 10 AM) - DJI Off 1% / S&P Off 2% / NASDAQ 0ff 3%
I’ll be watching today. Might be able to put a little dry powder to work.
FWIW - picked up a bit of a Brookfield fund (RA) for the CEF collection swapping out TEI. Brookfield, as I understand it, owns OakTree Investments founded by Howard Marks.
Added to CGDV one of the few bright lights in my portfolio YTD along with QLENX which I may be adding to near the close depending on how the rest of the day goes.
Thanks @BaluBalu. Others might be interested in your suggestion. I wasn’t looking for an Oaktree product. Just thought it worth mentioning the relationship between Brookfield and OakTree. Brookfield does a lot of work in real estate. OakTree focuses more on credit - especially distressed debt..
Added a bit across-the-board to my 7 CEF collection (in equal amounts). That took cash from 12.5% down to 12.0% Interestingly, utilities and some real estate funds are up today.
I had been lamenting not reducing our retirement equity positions from 38% to 33%, but after these last few market drops, I held my nose and made a minor contribution to VTI and VIG. Falling knife? Probably.
In taxable account: did some 'housecleaning' re EM exposure -- closed small EM country ETFs (at a loss), consolidated the proceeds to GQGIX. (easier to manage, and will let the pro (the fund manager) decide security selection in this space). Sold ABEV for nice gain. It moved up quickly, decided to take a profit. Added to PICK (miners ETF), and opened position in CIBR (cybersecurity space) ETF.
In dfd account: added to SIVR - its exhibited good relative strength vs AU. and PBDC positions. Placed a 'buy at close' order for another slice of PRCFX. Also added sliver of MGK, at reco of my financial advisor.
Will almost certainly be buying quantities of ntf PRWCX and FPACX at Merrill within the month, or so I hope, and then similarly TACF and JQUA at Fidelity.
JEQ jumped about 9.5% this morning following an earlier 4% gain. Sold all. Replaced it in the CEF collection with FOF which I’ve been watching.
Have buy orders in for LPXAX & CPLSX. I’d rather increase investment in those less aggressive areas than rebalance out of my leaders. Cash now at 11% - down from 12.5% a week ago.
Right on about scotch pollution - Anything more than a little ice & water would amount to sacrilege. Breaks my heart to see the garbage people pour into the stuff.
Sold the short-term AES position for a tiny gain on today's pop following the bond issue yesterday. May replace it with a combo spread to preserve capital and/or buy back in if/when it drops back down to 10 b/c I like the sector and its global footprint, but feel right now it's getting treated more as a frothy growth stock given its focus on renewables.
Read the prez's comments from the presser with Mark Rutte, Secretary General of NATO and decided to lock in more profits in the IRA. AM comments from Bessent already had me ready to sell. And then there are reports that options are being drawn up for military operations against Panama.
From the IRA: Sold CBRDX, CBLDX, MNHAX, FSUTX, and IYK.
Nothing shaking in the taxable but the leaves on the trees.
@PRESSmUP- What an interesting question. Not my best knowledge patch, but I'd think that maybe some state's finances will come under significant pressure due to the removal of federal support, especially if there are significant cuts in Medicare payments.
Indirectly some cities may be in the line of fire also: for instance, Musk/Trump have said that they intend to shut down three major federal buildings in SF, fire or transfer all of those workers, and sell the properties. If that comes to pass, that will cause a significant deterioration in all business activity associated with those federal operations, with resulting tax loss to the city.
Under those "scenarios" there would be financial damage to the cities and states, but it would likely not be immediate, but rather increase over a period of time.
Others here at MFO will most likely have much better ideas on this.
Friday, 3/14, added another nibble of physical silver ETF 'SIVR'. in TradIRA.. Thesis: AU is bigly overpriced vs. silver. Repatriation of metals is underway - possibly driven by threat of tariffs on the bullion. possibly driven by industrial usage. In any case, the chart on silver, and on miners is "up and to the right". So long as thats the case, I am riding the wave...
Sold ASGI and bought UTF in CEF collection. Both utilities. UTF is the more aggressive of the two. C&S now manages over 40% of portfolio (2 OEFs / 2 CEFs).
Bought some EUAD on the premise that countries will try to diversify away from the US on aerospace and defense products. #1 holding is Airbus (21%) and has a ton of EU defense companies that have skyrocketed in recent weeks.
(Wouldn't mind owning HAGHY and THLLY as individual holdings on a decent pullback, either.)
In Taxable account, move a sliver of cash to IBTG -- a convenient wrapper to buy/hold/sell T bills maturing in Dec 2026. Nibbled on DFAT (SC value), and PICK (global mining stocks). In both cases, they strike me as having value to accumulate here.
In dfd accounts: opened position in BINC (Blackrock's answer to PIMIX), Added to positions in PBDC (BDCs) and FSCO (pvt lending CEF). Both strike me as reasonable income + income growth vehicles. PBDC in particular sold off on the silly tariff hysteria. I assess the selloff as overdone. Lastly, nibbled a bit on JEPI, for the same reason.
3.18- Took profit on EWH (Hong Kong). The price looks stretched after a big move up. Purchased another tranche of PRCFX. - It continues to demonstrate muted volatility, with a proven manager (D. Giroux).
In terms of optimizing returns on cash in taxable account, added to holdings in BOXX. -- This ETF (essentially) allows one to defer tax on T-bill like ETF, and, if one holds +1year, pay lower cap-gains rate on the accrued value. It essentially performs like a savings bond, but in an ETF wrapper. The ETF has garnered ~ $5.5 billion AUM in the 2+ years its been operating.
Added to NRDCX and invested the smallest amount in an individual corporate bond - cusip # 37046AFR1 General Motors Financial Corp - 4.85% yield (BBB) - 2-yr - first call 3/26
I have been investing in treasuries and agency bonds. This was a very small investment in an individual corporate.
Comments
PS Powell is yapping. Must have said something to turn the markets around. ”Stay tuned …”
After this week's action, I don't trust this afternoon's modest rally heading into a weekend of continued tariffing, waffling, bloviating, and tweeting...
(I have a good chunk of profits already locked in for 2025, so I can speculate a bit if I want)
(Around 10 AM) - DJI Off 1% / S&P Off 2% / NASDAQ 0ff 3%
I’ll be watching today. Might be able to put a little dry powder to work.
FWIW - picked up a bit of a Brookfield fund (RA) for the CEF collection swapping out TEI. Brookfield, as I understand it, owns OakTree Investments founded by Howard Marks.
Brookfield acquired OakTree in 2020.
In taxable account:
did some 'housecleaning' re EM exposure -- closed small EM country ETFs (at a loss), consolidated the proceeds to GQGIX. (easier to manage, and will let the pro (the fund manager) decide security selection in this space).
Sold ABEV for nice gain. It moved up quickly, decided to take a profit.
Added to PICK (miners ETF), and opened position in CIBR (cybersecurity space) ETF.
In dfd account: added to SIVR - its exhibited good relative strength vs AU. and PBDC positions. Placed a 'buy at close' order for another slice of PRCFX. Also added sliver of MGK, at reco of my financial advisor.
Have buy orders in for LPXAX & CPLSX. I’d rather increase investment in those less aggressive areas than rebalance out of my leaders. Cash now at 11% - down from 12.5% a week ago.
(
S&CC&S now has a bit over 38% of my money.)Right on about scotch pollution - Anything more than a little ice & water would amount to sacrilege.
Breaks my heart to see the garbage people pour into the stuff.
From the IRA: Sold CBRDX, CBLDX, MNHAX, FSUTX, and IYK.
Nothing shaking in the taxable but the leaves on the trees.
Here's a question...is there a reason to be concerned about muni's?
Indirectly some cities may be in the line of fire also: for instance, Musk/Trump have said that they intend to shut down three major federal buildings in SF, fire or transfer all of those workers, and sell the properties. If that comes to pass, that will cause a significant deterioration in all business activity associated with those federal operations, with resulting tax loss to the city.
Under those "scenarios" there would be financial damage to the cities and states, but it would likely not be immediate, but rather increase over a period of time.
Others here at MFO will most likely have much better ideas on this.
Thesis: AU is bigly overpriced vs. silver. Repatriation of metals is underway - possibly driven by threat of tariffs on the bullion. possibly driven by industrial usage. In any case, the chart on silver, and on miners is "up and to the right". So long as thats the case, I am riding the wave...
(Wouldn't mind owning HAGHY and THLLY as individual holdings on a decent pullback, either.)
In Taxable account, move a sliver of cash to IBTG -- a convenient wrapper to buy/hold/sell T bills maturing in Dec 2026. Nibbled on DFAT (SC value), and PICK (global mining stocks). In both cases, they strike me as having value to accumulate here.
In dfd accounts: opened position in BINC (Blackrock's answer to PIMIX), Added to positions in PBDC (BDCs) and FSCO (pvt lending CEF). Both strike me as reasonable income + income growth vehicles. PBDC in particular sold off on the silly tariff hysteria. I assess the selloff as overdone. Lastly, nibbled a bit on JEPI, for the same reason.
Purchased another tranche of PRCFX. - It continues to demonstrate muted volatility, with a proven manager (D. Giroux).
In terms of optimizing returns on cash in taxable account, added to holdings in BOXX. -- This ETF (essentially) allows one to defer tax on T-bill like ETF, and, if one holds +1year, pay lower cap-gains rate on the accrued value. It essentially performs like a savings bond, but in an ETF wrapper. The ETF has garnered ~ $5.5 billion AUM in the 2+ years its been operating.
- cusip # 37046AFR1 General Motors Financial Corp
- 4.85% yield (BBB)
- 2-yr
- first call 3/26
I have been investing in treasuries and agency bonds. This was a very small investment in an individual corporate.