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.
FWIW saying when I hit retirement I still expect to still be practically all-in on equities as I am now in my mid-40s. While I won't be 'diversified' across so-called "asset classes" I will be 'diversified' by my own comfort levels, sectors, and du…
Translation: "If you're annoyed by these fees, just buy OUR funds!"
What a lame non-response response by Fido.
From Fidelity Monitor & Insight:
"As we went to press, The Wall St. Journal is reporting that an“obscure fee” charged by Fidelity t…
IIRC Labor Dept has jurisdiction over policies governing employee retirement plans like 401Ks...think of the controversial 'fiduciary duty' rule & fees from the Obama DOL that Wall Street *hated*.
By contrast SEC has jurisdiction over what go…
"The fee is calculated as 0.15% of a mutual-fund company’s industrywide assets, not just on the dollar amount of assets held by Fidelity customers buying shares on the platform, the document says."
This is the kicker -- .15% of a hosted fund compa…
My rule of thumb in such cases is that there's never only one cockroach. Unless you're playing with tons of f-you money like Uncle Warren and can speculate, I'd wait a while for the dust to settle and see what else shakes out from all this. Ther…
Summary: "Probably the best way, then, to think about “smart” versus “dumb” money is this: The smart money isn’t as smart as it fancies itself, and the dumb money isn’t as dumb as everybody thinks it is. The only smart money is the money that know…
If I wanted an eq-weighted fund, I'd go with BRLIX - .15 ER and simply takes the top 35 largest companies[1], equal-weights them, and rebalances a few times a year. Easy cheap exposure to large value/growth firms.
[1] Except Facebook, which …
The day you, me, and Ann Coulter agree .... my gods, I expect the Hellmouth to open at midnight and consume us all!
Thanks @hank. I really could have done without that bit of information. :)
That's an interesting fund, indeed. Too new for my tastes, as I recall from when I read David's piece, but it's intriguing ... and local for me, which is kind of neat. :)
Tweety Amin managed to shoot himself in both feet with that remark and didn't need Rudy Guliani's help to do it -- so I guess the toddler-in-tweet is growing up after all. EVERY legal challenge is going to use that quote in their briefs!
This mor…
Good. I was not a fan of Spencer's work on the fund in recent years .. far too much trading and overweighting on volatile companies (ie, TSLA, Alibaba, etc). Glad I got out when I did.
I've always done stock-picking since I've never been a fan of market-capped indexes and going with the herd.
Performance and SWAN-wise, I can't complain.
TD only ... but I don't actively 'trade' mutual funds, I hold them.
I hold funds at WFA but those are set-and-forget positions that I don't need or want to touch.
@msf excellent points and questions. Frankly, I place little value in M* ratings or star analysis ... it's just one of any number of 'systems' to offer opinions on funds, and always subject to arbitrary, hindsight-informed revisions.
@Mark: Beware of Wampas, and be sure to feed your Tauntaun.
It's 27F here in DC right now.
Presently working my way through a bottle of Hibiki Harmony ... it's tasty but nowhere as good as the old version of Hibiki (before it became soooo glob…
Yeah --- it's been 'the rage' for a few years now. Some factor implementations are better than others (ie, factors for volatility) and within factor offerings, some factor products are better than others (ie, VMVFX, USMV I think, and others.)
Spe…
Oh, gee, another story about how tech is going to disrupt finance. YAWN.
Other than reducing transaction costs (which can be recouped in other ways, like volume) the mutual fund is not going to disappear b/c of tech. OEFs serve important functio…
Whether it's scotch or bourbon, always use the cheap stuff in mixers -- always. To do otherwise is considered first-degree alcohol abuse.
If you use water to cut your scotch (which a lot of ppl, new and old, do) it only takes a few drops. Anythi…
Don't get me started on 'empathy' with this regime's so-called 'leadership' comprised of "the best people, believe me." ..... Wilbur is long past his prime. He comes across on TV as a doddering senile old fool.
Works for me, I can DCA with each weekly shopping run - and with a 5% Prime discount, too! :)
Eventually Amazon would probably also try selling shares at the Whole Foods meat counter.
I was actually surprised he said that. I've been toying with buying some GE LEAPS in my Roth and just let them sit there for the next few years to play on the potential recovery/restructuring.
Interesting that DG's 'one investment' was GE, callin…
Happy PRWCX holder here .... I'll make a point to go online and stream it. Giroux is always interesting listening.
Yup, I'm still 31.79% in PRWCX. I'll be quite interested to see what he has to say.
Wow -- I can drink Laphroaig like water and don't think it's overly peaty. Of course, 6 years ago I ran screaming from Ardbeg ("Ardblargh!" I used to call it) and peaty malts .... then began to cut it with some water ... and now Laphroaig is one …
Amazon Prime members get access to P-Class shares that have zero-point ERs. :)
The Amazon model would offer free trades with prime but raise the share price to cover it.
@msf you make some valid points. If an investor wants to use inverse funds, they can always move to another brokerage, which indeed is the free-market at work.
Ted disrupts a thread needlessly to stroke his delicate ego, and yet it's my fault. Go figure.
To the OP, I think VG is overreaching on this in the name of investor protection. If they outlaw 2 or 3-x inverse funds, I can understand that sin…
I agree it's nowhere near the same use as M* PM .... you may want to check w/your broker to see if you have access to M* reports/features thru them as well. I know TDA offers their portfolio XRay thru them, which I find completely useful and very …
Yes. You can get caught in 'analysis paralysis' ... which is why I no longer have indicators on my charts when investing AND when trading futures. If I do use them (ie, a moving average) it's moreso to get a sense of where the 'herd' or 'market…
What makes this day different from any other day?
I've long since given up M* premium/portfolios and went with Personal Capital, which is far far more reliable and user friendly for portfolio tracking.
You must never, never, post a link at MFO without first wasting time to seeing if Ted has posted it previously. Otherwise he will *always* jump in to remind you and everyone that OMG HE POSTED IT FIRST -- with the implication that you have grievo…
All looking quite expensive and probably bearing outdated frontend loads and 12b1 fees I bet....
They sell mutual funds too.
I recall they took over the Strong funds after Richard Strong was forever banned from the business by the SEC in the mid 9…
Mark -- well said!!
By Allen Clifton:
"A quick civics lesson: Just before the government shutdown began, the Senate, led by Majority Leader Mitch McConnell (a Republican) overwhelmingly passed a bipartisan bill that would have kept the government o…
