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.
"Legacy Portfolio Manager and Investor Portfolio may not work as expected.
We're working quickly to resolve the issue, and we apologize for any inconvenience."
Yeah, I've heard that before!
Several of Vanguard's actively manged funds have too many subadvisors.
Vanguard Windsor II Fund with four subadvisors is one such fund.
When there are three or more subadvisors, they may conflict with one another
and/or the portfolio holdings may re…
"He has written about former Republican presidential candidate Vivek Ramaswamy:
'Never trust a chinaman or Indian … NEVER.'"
"He has said Black people behave like 'victims' because 'that’s their natural state …
You can’t change them,' adding: 'Pro…
"For the record, I'll be happy to clarify my position: I esteem the immigration of legal, highly skilled immigrants who appreciate and honor the democratic traditions of their new country. I have nothing but contempt
for those who come here, take ad…
"As you’ve probably heard by now, Trump is renaming the White House.
In all official government documents and correspondence,
it will now be called the 'Donald J. Trump White House.'
I’m joking, but it’s not really funny. It’s entirely consistent wi…
"I have learned a few HVAC tricks over the years.
Most failures are due to ignitors or flame sensors.
If the furnace starts and runs for 30-60 seconds, lights the burner then shuts down,
that is defined as a 'short cycle" and almost always due to th…
I'm pleased to share some good news!
Donald J. Trump is utterly powerless in obtaining the release of a Colorado country clerk —
a vocal election denier — who schemed to manipulate 2020 election results.
We should send her to CECOT or Eswatini to s…
My gas furnace stopped working Friday.
Although there were no prior issues, the furnace is over 30 years old — it's on borrowed time!
An HVAC tech came out on Saturday and fixed it (several issues) but it may fail again at any moment.
I need to buy …
"Spot silver traded as high as $84 an ounce in the overnight session, a near 10% advance
from last week’s close and a level that would have marked the strongest annual gain since 1951,
before slumping more than 10% shortly afterward. The metal last …
"The first Trump tax cut has saved Charles Koch and Koch Industries an estimated $1 to $1.4 billion
a year, not even counting tax savings on profits stored offshore and a shrunken estate tax.
The second Trump tax cut saved the Kochs even more.
They …
Sold some FPFIX shares to buy additional PYLD shares in IRA.
PYLD may generate potentially higher returns than FPFIX albeit with greater volatility.
Initiated new BBBIX position ("near cash") in taxable account.
BBBIX provides a higher yield than V…
"Trump has revealed himself in ways his first-term handlers wouldn’t allow — as a sociopath
who posts AI cartoons showing himself shitting on millions of Americans who marched against him.
A malignant narcissist unable to respond to the tragic killi…
@DrVenture,
I'm sure that you and your family will remember this Christmas for a long time to come!
I'm glad that your wife is feeling much better now.
This incident illustrates how much respect our "great leader" has amassed throughout the world.
What an embarassment he is to the United States of America!
But Donald J. Trump, a renowned narcissist, did get his name placed on yet another item.
Each Christmas Eve, a hangar on the NORAD base is transformed into a call center.
There are approximately one thousand volunteers who rotate through the call center
over the course of the day. More than 380,000 calls from around the world came in la…
I haven't used box spreads myself but recently discovered the following articles.
https://thefinancebuff.com/short-box-spread-vs-margin-loan-fidelity.html
https://thefinancebuff.com/long-box-spread-trade-vs-treasury-cd-fidelity.html
"Almost all of us are mongrels — of mixed nationalities, mixed ethnicities, mixed races, mixed creeds.
While we maintain our own traditions, we also embrace the ideals of this nation."
"As Ronald Reagan put it in a 1988 speech,
You can go to Japan …
"On December 23, Rebecca Ballhaus, Josh Dawsey, and C. Ryan Barber of the Wall Street Journal
examined Trump’s use of the president’s pardoning power to cash in, with 'lobbyists close to Trump'
saying that 'their going rate to advocate for a pardon …
Mutual funds will often publish Quarterly Commentaries which may have useful information.
A link to the PRMTX commentary from 09/30/2025 is below.
There's not that much information in this particular commentary.
https://www.troweprice.com/literature…
[snip]
Same script as always: deny, dismiss, and downplay every failure by Democrats
while minimizing every success by Republicans. Let’s review the record.
Under Biden, Europe saw its largest war since World War II, the Middle East destabilized fur…
"Why haven’t the American Bar Association or the American Medical Association, stood up
against the unethical behavior of professionals in the Trump regime?
I was always told that professional associations existed to maintain professional standards,…
"Wow, a 9yo piece from PK?
What else you got?
You are one weak arguer sometimes."
I presume that FD1000 considers this to be genuine debate in his view.¹
¹ https://www.mutualfundobserver.com/discuss/discussion/comment/204057/#Comment_204057
"A planned Christmas Eve jazz concert at the Kennedy Center, a holiday tradition dating back more than 20
years, has been canceled. The show's host, musician Chuck Redd, says that he called off the performance
in the wake of the White House announci…
"The warehouse plan would be the next step in President Donald Trump’s campaign to detain and deport
millions of immigrants, which began with a scramble to expand the nation’s immigrant detention system,
the largest in the world. Armed with $45 bill…
Robert Reich wrote:
"Ninety-three years ago, in March 1933, the Nazis established their first concentration camp
in what is now Dachau, Poland. Other camps were soon established in Buchenwald and Sachsenhausen."
"Initially, the Nazi’s put into the…
Vanguard's PRIMECAP-managed funds have performed very well YTD (as of 12/24 market close).
VPCCX: 32.00%
VPMAX: 31.52%
VHCAX: 27.90%
Edit: Updated YTD performance to reflect 12/24 returns.
"The most common way thieves drain money from gift cards is by shoplifting them from supermarkets
and other retailers and then manipulating the package to steal the card information.
The compromised cards are then placed back in stores, and the stol…
Daniel Shear started managing PRMTX solo in March 2025.
Excerpts from the M* PRMTX report (12/19/2025) are below.
"Shear has introduced several changes since taking over, reshaping the portfolio's sector, style,
and geographic profile. Historically…
"American team management structure is unique in MF industry."
Some (all?) of the founders of PRIMECAP Management formerly worked at AF.
Like AF, PRIMECAP also uses an approach where individual portfolio managers
manage "sleeves" of a mutual fund i…
From Markets A.M. newsletter by Spencer Jakab.
On this day in 1877, Thomas Edison filed for a U.S. patent on his "speaking machine,"
later known as the phonograph. A few days earlier, he had brought a model of the device to the offices
of Scientifi…
That bro works so hard he doesn't have time to shave
Not to worry.
It's rumored that Mr. Plotkin will receive a Norelco Multigroom 9000 in his Christmas stocking.
He'll just need to step away from the 10-K reports, 10-Q reports, and free cash flow p…
