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@hank. T-bills is a reference to cash. it's called 'cash equivalents' in the contemporary fund documents. these are usually short term treasurys with maturities under 12 mos.
so the jeremy siegel's chart represents that gold underperformed cash…
this is all great, but do remember that the Fed only controls the fed funds rate (an overnight borrowing cost), the longer rates are controlled by market participants.
fa
Here's a bond related story. Understanding bonds has been my biggest investme…
i think what hurt them was a general backup in non investment grade spreads (HY, MBS and EM) since summer, and a rally in the long term treasury -- they are hedged (i.e. short long term bond). if your other fixed income funds have duration, this on…
morningstar has world allocation category. GAOAX seems to perform better since its inception than MDLOX, for example. there must be others. these funds invest globally in equities and fixed income, and no matter what the service providers say, thei…
"smart money" defines professional money managers. basically, if your mutual fund PM buys oil related stock for its mutual fund portfolio -- smart money did it; if you invest in this mutual fund - that's a retail flows. hedge funds are called "fast…
has nothing to do with fiduciary responsibility.
for those not bored by a bit of legalese who might have heard of total return swaps, matt, as always, simplified the narrative:
here
there wasn't much time to discuss GAINX on the call or may be i missed it, but how long are they sticking with the US offering? they've been subsidizing the ER since inception.
Markets are perverse and anticipatory. There was something more than meets the eye going on this week in the Treasuries/munis and the junk corporates. And it was all bad for the former and all good for the later.
the undoing of the deflation …
i invested a small portion of portfolio recently (PRRIX version in the old 401k) as i think inflation is underpriced. it is of course subject to interest rate risk, but it will lose less than the treasuries of the same maturities due to inflation br…
i would like to hear more about GAINX. the fund has been around for over 2 years and doesn't seem as a resounding commercial success @ just $5.5mm. Thus here my questions, if i may:
• Since the fund expenses are being heavily subsidized, for how lo…
@hank:
I bet the fund companies know about 'selective disclosure' regulatory limitations. Don't forget, however that institutions, such as pension plan sponsors and individual REIs who advise wealthy clients have to do their due diligence before an…
Yep. I've seen he started to reduce his position. His total was about 3 percent of the fund and he is not dummy re execution- his traders follow vwap or other measures NOT to influence pricing. Note that PDI is owned by several funds, so gross' sale…
the market reversed on this from ECB re Greek collateral:
http://www.bloomberg.com/news/articles/2015-02-04/ecb-shuts-off-direct-funds-to-greece-as-reform-progress-in-doubt
@Ted
Thanks. And this Wednesday morning; all was well with the Greek's on t…
doesn't one need earned income to have an IRA?
Yep, there's a way. The account is in the kids names, but with an adult as custodian for the minor. 25 years ago there weren't too many fund companies that would do this (we used funds rather than stoc…
@Mona: PDI has recently suffered from the non-investment grade spread widening (as did all HY), but also from being hedged duration - as long treasuries ripped. Pure play non-agencies (like DMO) had somewhat better NAV performance.
Do contribute! …
@davidmoran, i see you're very active on these boards and very well spoken. your prolific inputs however often site incomplete data. i am again siding with @Mona. may be it's a 'girl thing' (insert smiley face) or may be i tend to like more factu…
'tax increases won't affect you unless very wealthy' - it's a joke, dave, right? 529 overhaul, limitation on tax deferred pension accounts in this age of non-existent defined benefits and many other wonderful proposals affect me a lot, and i am not …
i hope it is understood that mr. hasenstab owns half of the ukrainian debt across all his vehicles, including his two closed end funds: gim and tei. also, for those getting hooked on the investment grade stuff, don't forget that many sub-prime and …
great.
-now find out about loads and fees (loads could be waived in 401k, but ADP quarterly service fee is either picked up by your employer or not. if not, and you are paying ADP from your balance, just do enough to receive the company match and…
are you paying loads on A share classes? if the answer is yes, then don't invest, or invest in MS money market to get your company's match and leave it there. instead open a Roth IRA if you don't have one. if you max your Roth (5500/6500 for 2014 an…
hello there.
we all want to make money, but have different paths as to how to get there. junkster is a momentum player with very tight stops and annual resets. i am in the camp of diversified AA - to make sure at least part of my portfolio works e…
dear Crash/Max B,
equities were up just under 2% while Eur was down just about 1.6%. the rest is history. HEDJ is a hedged ETF, but then you don't have a brokerage account as i recall.
trust me, you're not alone, many others in mutual funds had …
be careful if you've never ventured in closed end funds before. i've owned JRI since it lost its IPO premium and the price spent years in 16s before it moved up recently. closed end funds have a asset class volatility related to premium/discount m…
they look at your particular travel and spending pattern. if going out of state is not your typical pattern, they will flag the transaction. all banks now have an online notification service of intended travel destinations and dates.
years ago c…
with respect to "cash" or "cash equivalents" or "short-term instruments" definition... it usually includes physical cash or treasury bills (treasury securities with maturities under 12 months). all 1+ year treasuries are called treasury notes and b…
he never said anything bad about Cambria. have you read the article? he speaks of those who latched to the wrong thing:
"The media and investors who focused on what they’re not paying for in the Cambria Global Asset Allocation ETF."
ok, ok. AAPL is AA+... just like the US... it's funny though that morning* felt the need to 'rate' the debt in a lower part of the 'medium' quality. how are they in the bond rating business?