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LewisBraham
Hi Hank,
Your satire came across very well. Don't worry about the user name.
Best,
Lewis
Agreed, but those other two situations--significant outflows or a new manager--aren't necessarily good reasons to add money to a fund when they make a distribution either. Both could be considered sell signs.
@MSF One thing I think you may be missing is that when a fund makes such a large distribution, often, although not always, it has performed quite well and it may be time to reallocate one's portfolio into another asset class that has underperformed …
I just do not see the merit here. if a fundholder didn't read the prospectus, its on them. if they read the prospectus and decided to invest anyway, its on them.
Do you read every page in the prospectuses for your funds? Do you read the terms of ser…
Apparently, he has never tasted his own pizza:
https://thehill.com/policy/international/598251-190-papa-johns-in-russia-are-still-open-at-the-end-of-the-day-they
Ever wonder what it would be like to live in a world where being secure in your old age wasn’t dependent on complete randomness and luck? Linking retirement to the stock market is a bit like linking it to a roulette wheel.
Let's say you work in a bar and there's a drunken bruiser in it whom you have the muscle to throw out, but not without destroying the entire bar. He is an insecure egomaniac who needs to feel like he's won even when he loses. How do you get him out?…
Could be true, and I hope it is that this is a "catastrophic error" on Putin's part that will lead to his downfall, but could also be a grave misunderstanding of Russian culture and how entrenched totalitarian regimes and their leaders can be. Stali…
I doubt the banks can get out too easily even if they want to if they're holding ruble-based debt, which is probably completely illiquid right now. Who's going to buy their debt holdings?
Pretty funny that Amway and Herbalife are still there, given their pyramid-scheme-like structures. Also, there is of course the Betsy DeVos connection to Amway. I can imagine what the Amway salesmanship in a country like Russia might be like.
The statues I feel differently about, depending on which one. Most of the Confederate statues had nothing to with "preserving history" when they were erected as they were put up decades after the Civil War during the height of the Klan in the 1900s:…
The problem I have with the Sir Francis Drake story you described is that such name changes are just cosmetic and don't really address the pressing problems we have today. There is racism now in our justice system and there is massive income inequal…
Not saying you are "woke," but it's funny how the right-wing calls the left "woke" as an insult, but the left doesn't call the right "asleep." I feel like the asleep narrative is much older than the woke one and has been largely overlooked as a pro…
OJ summed it up quite nicely. The drift I've seen lately seems to be in that grey zone called "Other Investing." In the world of Star Trek it might be called the Neutral Zone.
To the Off T folks, the people on the On T side want to silo investing in a sterile modern portfolio theory fantasyland ruled by a rational amoral homo economicus where the market has no connection to life, reality, the vast majority of people, faun…
Who is this fabled "average man on the street?" What does he look like and where does he live? Judging by the polls, it seems the average man on the street is the one out of touch with reality.
I don’t think the media is too negative, but ignores the more important negatives while fixating on less important ones. Why does this story receive less attention than inflation and Ukraine?
https://google.com/amp/s/www.newyorker.com/news/dispatch/…
The notion that Bitcoin isn’t controlled by oligarchs like nations’ currencies are is laughable. It creates a might is right free for all in which whoever owns the most Bitcoin controls the currency. A currency for the wealthy and by the wealthy lib…
Like regular mutual funds, most are bad and some are good. The question is too general, like asking "Are movies good to watch?" The two key differences to pay attention to with CEFs are discounts/premiums and leverage. I would suggest reading up mor…
I wonder what those buttons under the table do? I'm sure they serve a practical purpose, but the whole photo does have a James Bond villain in his lair quality to it.
I would expect a bump in crypto like Bitcoin as a result: https://nypost.com/2022/02/24/how-russia-can-use-crypto-to-avoid-us-sanctions-over-ukraine/
https://nytimes.com/2022/02/23/business/russia-sanctions-cryptocurrency.html
The U.S. and Europe s…
It's odd as this FAQs sheet says very clearly: "There are no changes to the investment objectives, principal investment strategies, principal risks or portfolio of the Target Funds as a result of the Reorganizations. The Adviser and portfolio manage…
I think interval funds make sense in theory, but are often abused in practice. Someday a money manager is going to offer a truly low cost, unlevered well-managed interval fund that invests in illiquid assets that suit the structure. But most of the …
I assume you mean this? https://sec.gov/Archives/edgar/data/61628/000110465911058419/a11-27145_1def14a.htm
It seems like they want to leave Minnesota--not physically but legally--and reincorporate or reorganize in Delaware. American corporations lo…
To davidrmoran's point: https://thenation.com/article/politics/inflation-price-gouging/?custno=&zip=&utm_source=Sailthru&utm_medium=email&utm_campaign=Daily%2021.02.2022&utm_term=daily
And yes, the Democrats will pay the overinfl…
Actually, Morningstar categorizes GQG as Large Growth. Your large red arrow should be pointing at the "Category" menu to the left. The "Investment Style" box is usually considered a temporary phenomenon, albeit it is possible if the style stays that…
In practice, though, in-kind redemptions are relatively impractical except for large institutional shareholders, but could be useful when funds are facing dangerous redemptions from such institutional players. A lot of investors who sell might never…
I would suspect in such a circumstance the fund wouldn't wait until December to make a distribution, but to pay special distributions earlier, closer to the time of the redemptions. It is also possible for a fund to pay in-kind redemptions in securi…
My impression is that as long as the purchases of the stock did not exceed 25% of the fund's assets, the manager can have as much of the stock as a percentage of the portfolio as they want if the stock has appreciated beyond that 25% threshold. I do…
It's hard to think of this as a mutual fund when 50% is in one stock. The other issue I could image is the potential tax liability if the fund starts experiencing redemptions and the manager has to sell appreciated stock. Given that, if one is a Tes…
Sure, there's no money to pay down the deficit with a household net worth of over $140 trillion last I checked. And then there's of course this: https://bloomberg.com/news/articles/2022-02-02/what-the-73-trillion-great-wealth-transfer-means-for-amer…
Historically, I think it's been more defensive than the typical large-cap value fund, will hold cash and bonds and the manager is a long-term investor who buys and holds and invests heavily in his own fund. For a while he's held little to no bonds a…
