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I didn't buy or sell anything today. Multiple posters on another forum purchased Pimco Dynamic Income (PDI) today. This CEF has sold at an average premium of 12.85% over the past year. According to M*, the fund's premium is currently only 5.97%. The dividend yield is apparently >15%.
Yes, I was going to buy PDO today because it was at par (no discount/premium) after the hit it took. Normally 4.5% premium and paying almost 12%. I almost pulled the trigger. I decided to give up CEF's about a year ago and that kept me from buying it. Wasn't easy but I fought the temptation and stayed away.
Bought just several more of ET at the day's low, before everything popped on the suspended tariff news. Sometimes ya get lucky.
Same. Like 10m before the news broke ... I did a double-take when I saw that. My luck tends to go the other way when I buy things, albeit usually the next day or so. lol
@Crash, @rforno - similar luck here. My history is usually the opposite, right before a big poop. Went down the Kmart special aisle and added to ABBV, ARCC, QQQM and XLG. Almost added to AAPL yesterday but I own so much in other holdings so I just nailed my hands to the desktop. I'm not convinced of this reprieve so I didn't blow all available cash.
I've got 30 days to reflect on my idiocy before wash sale rules expire at least.
Re-deployed some March 31 sales proceeds back into two of hardest hit funds since then, FSELX and FDSVX. Start of DCA process to get all of remaining proceeds re-deployed before respective OEF SELL levels regained. Target range for first DCA BUYs was met today.
EDIT (after the close): FSELX re-entry point was 16.8% lower and FDSVX was 8.1% lower than their respective March 31 SELL prices. So far so good with this market timing exercise in very volatile times.
50k CD came due today- redeployed into SUTXX MMKT rather than new CD or Treasury because rates seem to be rising a bit and didn't want to lock up yield until I see where things are going to settle.
Raised my Fidelity basket holdings from 14 to 15 today. Buys: RIV & PCEF. Sale: BWG. Basket contains 11 CEFs, 3 stocks, 1 etf. Smallish amount each, but together 25% of my portfolio.
Fido’s basket option is neat. But a record-keeping nightmare if you increase or decrease total number of holdings (causing the weight / shares owned of everything to change). Performing their one-touch rebalance or a one-touch “across the basket” buy / sell is super easy - but causes similar pain. Swapping out holdings one at a time however (1 buy / 1 sell) is possible and doesn’t rejigger everything.
Started a position in TRIGX ex US value fund. Added to our ridiculously overweight CD collection. Added to STIP. looking for EX US bond fund/ etf. Ideas?
If global bond funds are acceptable, you may want to check DODLX and PFORX. VEGBX seems like a good choice for EM bonds.
I am not much into screens to find funds but one of my favorite emerging market debt fund I have traded the past couple years has been EADOX/EIDOX If there is a better one out there in the emerging market category I would love to know. AGEYX more of a frontier emerging debt fund is another good one.
Started a position in TRIGX ex US value fund. Added to our ridiculously overweight CD collection. Added to STIP. looking for EX US bond fund/ etf. Ideas?
TRIGX! Hadn't thought about that fund in a long time. Owned it during the mid-aughts decline in the U.S.$, and it (and a couple of other foreign funds I owned at the time) did very well. Thanks for mentioning it, @larryB; adding it to the watch list ...
Question for me is how long the dollar decline and the outperformance of foreign assets will keep going. There are so many sharp turns in the markets these days.
@AndyJ. I am not counting on a whiff of sanity lasting very long. Sanity and “Magaverse” are contradictions… The market rally this morning is based on nothing except for hope. For this old guy loss aversion rules the day. It’s much less simple when I advise my 34 year old daughter.
@AndyJ. I am not counting on a whiff of sanity lasting very long. Sanity and “Magaverse” are contradictions… The market rally this morning is based on nothing except for hope. For this old guy loss aversion rules the day. It’s much less simple when I advise my 34 year old daughter.
Didn't see you'd posted. I edited out the "whiff of sanity" bit: it sounded so much more optimistic than I actually am. Main point there was how much to count on the current direction in the $ and foreign assets continuing. Like you said, loss aversion is the theme, and may well be for a long time.
Took a quick look at HILAX. Managed by a team from Wellington. Wellington, which I greatly respect, is the sub advisor for many mutual funds from Hartford Funds. Seems like a good choice in the Foreign Large Value category.
New position started in CMCSA @ 31.50 ... down 8.25% premarket on earnings, paying a now-decent and covered yield for an information infrastructure company.
@Observant1, if you are Vanguard customers, VZICX, Vanguard International Core Stock Fund Admiral Shares is also managed by Wellington. F. Halsey Morris and Anna Lunden are the fund managers.
Changed my Roth IRA SEP holdings from the AF Growth+Income model portfolio to one that'll be around 90% in AF Washington Mutual* F-2, some in JHEQX, and a tiny slice of cash.
(I'd prefer to have it all in WaMu, but as it's a managed account and I needed a few other holdings for some reason. Whatever.)
My 403b still is 100% in WaMu's R-6 class.
* aka a conservative longtime 'widows and pensioners' value dividend stock fund
Comments
Multiple posters on another forum purchased Pimco Dynamic Income (PDI) today.
This CEF has sold at an average premium of 12.85% over the past year.
According to M*, the fund's premium is currently only 5.97%.
The dividend yield is apparently >15%.
I've got 30 days to reflect on my idiocy before wash sale rules expire at least.
EDIT (after the close): FSELX re-entry point was 16.8% lower and FDSVX was 8.1% lower than their respective March 31 SELL prices. So far so good with this market timing exercise in very volatile times.
Quoting catch22 "we live in interesting times!"
Used the proceeds to purchase a few shares of STIP today.
Basket contains 11 CEFs, 3 stocks, 1 etf. Smallish amount each, but together 25% of my portfolio.
Fido’s basket option is neat. But a record-keeping nightmare if you increase or decrease total number of holdings (causing the weight / shares owned of everything to change). Performing their one-touch rebalance or a one-touch “across the basket” buy / sell is super easy - but causes similar pain. Swapping out holdings one at a time however (1 buy / 1 sell) is possible and doesn’t rejigger everything.
If global bond funds are acceptable, you may want to check DODLX and PFORX.
VEGBX seems like a good choice for EM bonds.
Question for me is how long the dollar decline and the outperformance of foreign assets will keep going. There are so many sharp turns in the markets these days.
Now have full position in HILAX - basically rotated equivalent stock exposure to Foreign from Domestic.
Managed by a team from Wellington.
Wellington, which I greatly respect, is the sub advisor for many mutual funds from Hartford Funds.
Seems like a good choice in the Foreign Large Value category.
Transferring HSa from employer's provider to my brokerage in a few weeks.
In-kind transfers are prohibited.
(I'd prefer to have it all in WaMu, but as it's a managed account and I needed a few other holdings for some reason. Whatever.)
My 403b still is 100% in WaMu's R-6 class.
* aka a conservative longtime 'widows and pensioners' value dividend stock fund