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.
Excerpted from The Independent Vanguard Adviser :
"Since Kilbride took over the fund in Feb. 2006, he has outperformed the market with less risk and beat his in-house index competition, Dividend Appreciation Index (VDADX), to boot. To put some numb…
From John Authers' Points of Return newsletter today:
“'Additional Tier 1' capital was a category introduced under the Basel III banking accords that followed the GFC, with the intention of providing banks with more security.
Holders of the bonds w…
I wonder if this means anything for their funds.
Good question.
Credit Suisse offers a suite of Exchange Traded Notes (ETNs).
Link
"An ETN is an unsecured debt security issued by a bank, unlike an ETF which holds assets such as stocks, commodities…
Credit Suisse Importance
"The bank ranks among the world's largest wealth managers and crucially it is one of 30 global systemically important banks, whose failure would cause ripples through the entire financial system."
"Credit Suisse has a loca…
First Republic's collapse will not trigger a recession.
But I do think there is a high probability of a recession within the next year or so.
We've had the worst bout of inflation since 1981.
The Fed has aggressively hiked rates over the past year.
…
Thanks for sharing this article.
I also hope violence does not ensue.
Trump is playing with fire.
He will lose much of his influence on national affairs if he is finally held accountable for his crimes.
There appears to be an "Always Trump" base (~3…
Authorities were concerned about the ramifications of potentially widespread runs on banks.
If U.S. depositors lost confidence in the banking system, the situation could have easily spun out of control.
Protecting depositors with over $250K in SVB a…
David Sherman founded Cohanzick Management and CrossingBridge Advisors.
He is the Lead Portfolio Manager for the CrossingBridge fund family.
Mr. Sherman also manages two RiverPark funds (Cohanzick Management is sub-adviser):
RiverPark Strategic Inco…
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.
I recall that the Global Financial Crisis of 2007/2008 was much worse.
It felt (to me anywa…
[snip]
I generally try not to allow macroeconomics to influence my investment decisions. But I think it would behoove everyone to pay attention to what’s going on in banking and to the words and actions of government officials here and abroad - in …
Toyota is sticking with hybrids first, the EVs second. Some say it's foolish, others say that it works for Toyota.
Europeans are making good progress in the EVs; China too and it may be ahead in batteries. In the US, Tesla dominates.
If the "Fit f…
Officials may be concerned about the potential for more widespread bank runs.
This plan can help restore depositors' confidence in the banking system.
I don't like the appearance of this plan (moral hazard) but it may
have been the best choice avai…
Where does the government get all this money to cover depositors not covered by FDIC insurance?
PS - There’s one in every crowd.
A special assessment on banks will be implemented (as required by law) to cover Deposit Insurance Fund losses attribut…
I think Yogi is right here, though, that the KRE ETF did actually fall on Thursday and Friday. My question here is similar to the Washington Mutual debacle, when active fund managers kept holding that one straight into its meltdown. How do they not …
Schwab ran into problems in ‘08 with their “Yield Plus” ultra-short. Apparently they led investors to believe it was a safe, suitable substitute for a money market fund. It was down less than 4% when this article published in ‘08. But ISTM the fund…
Andrew Ross Sorkin writes in NY Times DealBook:
"So far, Silicon Valley Bank seems like an outlier, given its unique circumstances and unusual client base — it had very few typical retail customers, as JPMorgan’s Michael Cembalest wrote in a note t…
I just received this from First Republic Bank:
[snip]
Our liquidity remains strong. In addition to our well-diversified deposit base, we continue to have access to over $60 billion of available, unused borrowing capacity at the Federal Home Loan Ba…
The primary clients of Silicon Valley Bank (SVB) were technology startup firms.
These firms were strapped for cash and started withdrawing money from SVB.
To fund these redemptions, SVB sold a $21bn bond portfolio for a $1.8bn loss on Wednesday.
Sil…
It will be really interesting to see what transpires in the Georgia case regarding election interference.
These are very serious charges and Trump faces prison time if indicted and convicted.
Hope the weasel gets what he deserves...
It was not a good day for equities.
Every single one of my equity funds was down today.
My small-cap (VTMSX, -2.49%) and mid-cap (IVOO, -2.81%) funds were hit the hardest.
DOXIX (intermediate core-plus bond ) was the only fund in my portfolio with a…
The free link in Mark's first post worked for me.
A "Subscribe Now" pop-up message was displayed.
I clicked the "X" to close message and entire article was available to read.
DeSantis has enthusiastically embraced culture warfare to fire up his base.
Part of a long Republican tradition to "divide and conquer."
Not allowing investors the option of selecting ESG funds, rescinding Disney's special tax district,
and now requ…
03 March, 2023: Jonathan Clements. Smart. Savvy. Predictable.
That pretty much describes Mr. Clements.
He's found an investment strategy that works well for him and basically sticks with it.
I often read his articles (and those of other authors) on…
@msf: I continue to be befuddled by M*'s romance with Harris, Oakmark, Herro, and Nygren. Does M* have no way to send these underperforming hurlers to the showers?
Oakmark and Oakmark International have generated good long-term returns albeit with …
It's not surprising that gangs of thieves are targeting iPhone users. :-(
There can be considerable risk if a mobile phone is stolen or compromised.
I refrain from banking/trading/paying bills via my iPhone and other mobile devices due to risk conc…
If Dominion wins their defamation case I hope all of those clowns will be required to go on air at all of the major networks along with their own joke of a network and make public apologies for their lies and disinformation. Oh, and I want all that …
[snip]
A lengthy, current (Feb 23, 2023) piece (book excerpt) on Wellington's organization, history and relationship to Vanguard (and others):
The third component of Wellington’s strategy would be a group of unusually capable senior relationship m…
Hartford Funds doesn't receive much recognition from individual investors.
Two estimable firms, Wellington and Schroders, are sub-advisors for many of their funds.
Definitely worth a look...
PBS Newshour aired a segment regarding migrant child labor this evening.
Geoff Bennett had a discussion with the New York Times reporter (Hannah Drier)
who recently broke the story about this.
Video
RE China
[snip]
I have serious qualms about China's human rights record and the increasing threat to world stability, but I think the major investment risks ( other than a shooting war) are
1) I do not think you can believe their numbers and acc…
FD has discussed his trades after-the-fact for years on several different investment forums.
I don't recall any trades mentioned where he lost money.
He's been called out for these posts many times.
I currently participate on only one other investm…
Just amazing how he tells us all about these perfectly timed moves weeks after they are supposed to have happened. The guy is really good!
A true legend - in his own mind!
