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.
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PRESSmUP
The last week has been good preparation for playoff pressures....nicely done Tito.
It’s impacting the preferred funds as well, which tend to have significant percentages of regional bank exposure. This environment does represent a significant opportunity though. USB is really tempting.
a little SCHW and BAC
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 p…
@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. Searc…
I bought GS 2 days ago and SCHW today. Hard to pull the trigger but that’s when you need to do it
+1.
Indeed. Added to a regional bank CEF (BTO) and then to PRU, and C.
One thing @crash is correct in starting this thread. Bond market volatility is absolutely mind blowing these days.
Munis appear to have reversed course to the upside this week.
Honestly, a roller coaster ride like I can't remember, ever before.
I only began investing in 2003. So maybe a bunch of you are more well versed in it all.
A few years from now you may look back and wonder why you didn’t take advantage of this vola…
https://www.nytimes.com/2023/03/13/opinion/silicon-valley-bank-lehman-bailout.html
As Mr. Krugman notes in the comments, "this was a medium-sized bank, and contagion was the fear."
Which also supplies the "why" re: the support of First Republic by …
I think Yogi is right here, though, that the KRE ETF did actually fall on Thursday and Friday.
It did. My point though was that it fell almost 5% prior to Thursday...a somewhat curious 3 day move for that index with no news...
What I find odd is that KRE, the regional bank ETF simply didn't move lower on Thursday and Friday. They were leaking oil beginning Monday, down over 16% for the week. Someone knew what was happening before the press and the public became aware.
I pay for subscriptions to the NYT's, Washington Post, New Yorker, Atlantic, Bloomberg, Barron's, Forbes, 2 local papers and I buy the weekend edition of the WSJ for a recap of the week in finance and to laugh at the editorials. I find that the New …
There are several good articles on Bloomberg regarding what made SVB unique. Here is one:
Startup Bank Had a Startup Bank Run
One problem for Silicon Valley Bank is that its customers had too much cash, and now they don’t.
https://www.bloomberg.c…
@sma3: you probably are aware of Matthews’ MEMX, which excludes China. How to screen for such a portfolio, I dunno. Maybe Premium guru Charles can help.
Perhaps not a complete listing, but when I Google “ emerging market funds which exclude china”, …
It’s a bit confusing, as Victory also has several “franchises”:
https://investor.vcm.com/products/mutual-funds#
In Ohio, I’m familiar with Sycamore Capital, which has an excellent MCV fund, VETAX.
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 …
@MikeM2...pretty solid and clear points to consider for 2023, including another vote for retesting the October lows. I was surprised to see Bob Doll moved over to Crossmark, as he "retired" from Nuveen not too long ago.
one of the interesting points she mentioned re international funds...they make their gains rather quickly, and then always proceed to give them back. I had never read nor considered that before. I wonder is that is a phenomena of recent origin?
@larryB Utilities and real estate would rarely provide a total return boost for any fund, including SCHD. For me, it's to provide balance, along with a kicker in terms of distributions. I use UTG, UTF and RQI in these spaces, along with AEP and WPC…
SCHD can serve as a superb foundation for a long term portfolio given its performance, distributions, and rate of increase in those distributions. Of note, it does lack meaningful investment in certain sectors, such as utilities and real estate, but…
I felt that his comments were interesting and informative. One specific bone to pick. Some folks say why use a handful of words when one will do...well, as Powell said today when asked about his use of the term "disinflation"...he says that means he…
@Sven ....another rate hike is not the surprise. Such a healthy jobs number means that the Fed will continue forward, smashing the hopes of those who somehow, in some way, felt that a pivot was imminent.
What I personally don't understand....infla…
"I believe that deglobalization, costs associated with climate change, and depletion of natural resources will lead to higher inflation over the next few decades."
Indeed.
With David Crosby's passing there's a lot of items posted to Twitter and other sources. I found the link below. I had my doubts at first, as no doubt the band did as well. That Greg Reaves on bass, who also played on Deja vu and After the Gold Rush…
comical, really dangerous
Unfortunately, the "word on the street" in our nation's capital is that McCarthy is simply not...that...smart.
On the plus side, given the unprecedented legislative items passed over the past 2 years, once the debt ceili…
I re-established an EM fund early in 2022. It appears that I was a bit early. Which means it was crushed. PDEZX...which I added a bit to last week. Over the next 2 years I'll either get crushed again, or go up 90%.
If I recall, back in the day there was a $25K minimum entry for the fund. Glad I took that leap of faith, even though that was a significant portion of the portfolio at the time.
I’ve not yet heard the “Climate Deniers” comment on this revelation or attempt to explain it away, although I’m sure they will try their best.
This is why I have historically refused to invest directly in an oil or pipeline company….and the same f…
Of note, Morningstar, Inc. (MORN) is currently selling for $238.14 on NASDAQ, with a market cap of $10.108 billion, annual revenues of $1.85 billion.
They're making a ton of money, but I'm not really sure from who. Frankly, I don't trust their rati…
It would be catastrophic to cause a government default, and no party wants to be responsible for not approving a budget to prevent that.
The "Hive Mind" has a curious way of deflecting blame...I can hear Kevin McCarthy now..."Accede to my demand…
At present I am standing pat (subject to change at a moments notice). Since I cannot see clearly where the market might be headed (honestly I don't have a clue) if I make any additions at all they will be to SCHD or DIVO or by simple reinvestment of…
It appears that the pundits are united in proclaiming that 2023 is the year that bonds make a comeback. We shall see when that tide begins to turn. The only bond fund I've held throughout 2022 was PCI/PDI...underwater but still spewing notable cash …
I will be bumping up a few items, ~10% or so onto their current positions...UTF, RQI, JEPI, DIVO, SCHD. I'll be watching in 1Q to add to BTO, which is holding nicely to this point. Also making sure that any cash uninvested is working in a MM.
Real…
Clearly there will be a boundless need for internal redevelopment once Putin is out of the way, but I'm not quite sure how I feel about this. But I suppose the best way to initiate a massive rebuilding effort is to provide a way for outsiders to mak…
It appears that the problems stem from an antiquated crew scheduling system, resulting in the airline having no idea where their crews actually are.
https://www.denver7.com/news/local-news/southwests-structure-outdated-technology-lead-to-its-travel…
I added to my BTO holding, thinking the banks are better capitalized now than in prior recessionary periods. They may be stressed in the first half of the year, but I believe that you’re well compensated with a current discount and 8.11% distributio…
Perhaps owning individual stocks is indeed not prudent for most folks, but I consider it a hobby. I picked it up from my dad who was a factory worker at Timken Roller Bearing in Canton, Ohio, yet read the Wall Street Journal every day, and bought st…
I don't necessarily seek out penny stocks, but I own some of those.
Penny stocks are fine if kept to a small percentage of the portfolio...it's a flyer. All you need to make the process worthwhile over time is for one to hit.
