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>> I sold ... PINCX ... BCOIX
>> I bought PINCX+BCOIX earlier last week
short-term-trading penalties / fees ?
PAID $49.95 ST for PINCX. Paid nothing for BCOIX. Made thousands :-)
I don't pay for buying Inst shares, selling doesn't …
Lots of stuff today to cover
Multi- PTIAX at 0% was fantastic. VCFAX at -0.3% and IOFIX at -0.4 was not bad when SEMMX was down -0.46. JMUTX+JMSIX -1.3% was another proof why securitized is the best. Second-tier PUCZX at -2.9% and PIMIX is stil…
(link)
E-mini futures on the S&P 500 Index sank 5% to 2,819 as of 8:05 p.m. in New York. After briefly rallying, they slipped back to the limit-down level and held there about two hours later. The curb means the contract can’t trade at a lower …
As usual, they hardly ever discuss one of the best options...Multi sector bond funds.
The following are paying over 4% SEMMX,JMSIX,IOFIX,VCFAX,
FI CEFs such as PCI pay over 8% with better performance than SPY and others + volatility=SD is better too…
If I want to buy a fund I just do it at Schwab (I have a small account at Fidelity too) and if it's not there I don't buy. I can buy VLAAX or VLAIX at $100K min + $49.95 (which I usually don't pay) and then I can add or switch to another fund.
For …
I owned it years ago for just a short time. PIMIX was so much better. I realized years ago TGBAX has higher bets on currency and EM bonds. The fund was great during 2008-9. Yes, it's another PAUIX and FAIRX :-)
I owned PIMIX and FAIRX for years…
@FD1000 : A question ,when you have time. Do you have back-up plan if Fed keeps dropping interest rate. I came across article in WSJ, Tue. or Wed. which laid out that question.
Thank you, Derf
I always…
@sma3
I do worry about all these lower rated bonds in the securitized category. This is why I de-risk my portfolio staring Feb 27-28 when I sold all my HY Munis + lots of IOFIX. In the last several days I started to cover core plus funds and inves…
Last week was a good test for your bond funds.
Multi-SEMMX,IOFIX,EIXIX,VCFAX,PTIAX,JMUTX,JMSIX. PTIAX(1.1%) continues its momentum which tells me they own higher rates bonds than the rest. JMSIX(0.5%) had a nice week too. IOFIX (0.40%) continues…
Years ago I worked as a developer for mutual funds transfer agent which handles all these funds trades. The following is a common process: the big shops like VG, Fidelity, Schwab, and others have their own internal transfer agent. Schwab aggregate…
I'm so glad I transferred most of my money to Schwab. I got several thousand cash reward + I trade with no warnings.
You can't do the following easy trade at Fidelity. Suppose your IRA has $100,500 in PIMIX and you want to buy $100K of JMUTX instea…
FPFIX is a pretty good fund invested mainly in securitized and low duration=1.7 and a good "cash sub". Another similar fund is DHEIX with duration=1.4. Both invested mostly in IG bond rating. I like DHEIX a bit more because it's yield = 3.9 while…
The following is a research I have done for myself
I was looking for a fund to park my money until things come down but also make some money and searched for the followings:
1) higher rated bonds.
2) flexible. The above 2 mean...the Intermediat…
Rates are down sharply so it's not a surprise that higher-rated bond funds are doing pretty well...but..what about the rest
HY Munis are not working since last week and why I'm still waiting.
PTIAX continues to shine.
IOFIX is doing best within s…
After watching markets for decades and looking for many signs I still can't find any that can predict market crashes in the next weeks and even months. PE,PE10(Shiller),Bogle,Arnott,GMO, inverted yield and other can all be off by years and why I ne…
"Love" to read the these articles
"Los Angeles International Airport, rated AA, last week borrowed at below AAA yields, with bonds maturing in 2021 yielding just 0.63%. Even risky debt is paying only what top-rated securities once did. An Ohio agen…
@mcmarasco
I don't promote or recommend funds but discuss them. You need to make your own decisions based on your goals and due diligence. We have different goals and styles.
@guilhermes
I don't know how you can get liquidity info and you can't pr…
Duration is not a guarantee to work better. Securitized is a special sub-category. Funds like PIMIX with duration=0.68 can lose money pretty quickly. Duration works better with simple index high rated funds.
You want to own funds that do well in i…
@guilhermes
ZEOIX had a good record for several years but HY have their problem when markets collapse. Losing -0.8% is a lot of money especially when you compare it to DHEIX which has over 80% in IG rating bonds. BTW, ZEOIX also lost -0.6% in Q4/20…
@davidrmoran
When I say 4.5% including inflation it means exactly that. These numbers are based on 3% inflation. In 2010 I planned my retirement date to be at the end of 2017. I postponed it by one year because private healthcare (ACA) triple in pr…
Mark, I have heard this claim for years, the NAV is still OK but in reality, you trade the price and the only one you have access to your money ;-)
I do agree the NAV is an important aspect of valuation+trading and in many cases, it's clearer to se…
Analysis at the end, after the performance.
Performance......YTD...one week as of 2/29/2020
Multi
PDIIX……1.35....-1.0
PUCZX….0.7..…-1.35
JMUTX....1.3....-0.6
JMSIX.....1.4….-0.1 (JGIAX)
PTIAX….3.7….1.0
Multi(high % securitized)
PIMIX.....0.3….-1.0…
Of course, high rated bonds were up and why EDV+TLT are up so much YTD, last month and last week.
As expected VWINX did fine because it has about 60% in high rated bonds and why VASIX with about 80% did better than VWINX.
The question is what funds…
MikeM, usually you are correct but in rare cases, I go with what I feel is right based on my goals. I can't lose either case. If rates go down I "miss" the opportunity but I already made a big chunk of my yearly goal. If rates go up, I will not l…
US treasury and high quality investment grade bonds have done the best. Junk and emerging market (USD hedged or local currency) bonds had declined.
When rates decline high rated bonds do great.
As a mainly bondholder like me who wants to make mo…
@mark
This is a very unique time for me and why I will answer your question :-)
My goals as a retiree are: I need to make only 4.5% including inflation (Based on 2019, maybe I need only 4%) average annually to sustain our standard of living. But, I…
Tarwheel, I'm glad you mentioned PTIAX. It has a very good YTD performance and a huge jump of 0.47% yesterday. I tend to forget it sometimes. PTIAX invested mostly in securitized + smaller portion in Munis and both have done well but PTIAX perfor…
PUCZX is a fund with several moving parts and why it's harder to predict every move. PIMIX is another fund like that. PUCZX is down 1.4% from its top while PIMIX is down "only" 0.7% but for 3 years PUCZX performance is better than most. BTW, IOF…
So far for YTD and the last several crazy days, IOFIX easily beat all these "lower volatility" multisector funds.
See YTD (chart) of IOFIX,PIMIX,VCFAX,PUCZX,JMSIX,JMUTX. The chart shows up to 2/27 but when I copy the link it's only to 2/26
IOFIX…
PIMIX is invested at over 75% in securitized. A good replacement fund is VCFAX with about 90% in securitized. JMUTX+PUCZX are more diversified.
So, I would rate these 4 funds as follow. If you want lower SD then go with VCFAX, if you want better …
I "love" GMO forecasts. In 12/31/2010 GMO 7 years forecast (link)
was that US LC would make 0.4% + 2.5% inflation = 2.9% and US SC would make -1.9%+2.5%=+0.6%. GMO was way off, for 7 years SPY made 13.65% annually return while IWM made “only” 1…
recycling again :-)
2016 article https://www.aarp.org/money/investing/info-2016/junk-bonds-to-avoid.html In 4 years since 2016 JNK made over 40%.
2018 article https://seekingalpha.com/article/4190783-is-4-trillion-risk-in-bond-funds 2019 was one…
Trump will win no matter who is the Dem selection.
HC(health care) in the US is outrageous and there is no solution.
In the US MD(medical Doctor) are making 3-4 times more than abroad. In any other country, MD make a bit more than an engineer or …
Why IOFIX?
I wasn't comfortable investing in this fund but after several years of solid performance, I like it.
The managers also provided excellent presentations, see the last (one).
Another good article written by Charles Boccadoro can be found …
