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BaluBalu
Professional Experience:
Corporate Finance (Corporate Venture Fund investments, International and Treasury finance, Public Debt issuances, M&A, Joint Ventures, Planning, Business Divestures, SEC filings);
Policy and Legislative & Regulatory Affairs - Washington DC;
Capital Markets - London and NYC;
Commercial Bank Lending;
Field Biology.
CGUS team went from 6 managers to 3 managers and then they added 1 more manager to bring the team to 4 managers. All four are veterans. At least 1 of them has $1m investment in the fund.
Why was the team reduced?
I own the fund but did not pay…
HELO is a laddered ETF. JHQAX may be viewed as one of the three components of HELO but not exactly in that HELO is not a Fund of funds. JPM website has detailed info on both and is instructive to read there than anyone here can / should explain.
Yesterday’s rotation seem to be turning into a broadening today, which is good.
Yesterday was a six sigma day and violent resets, like earthquakes, are unsettling. How did the guy who came up with efficient market hypothesis did not get roasted to…
I am guessing all or most of that revenue from uninvested cash goes straight to the bottom line.
If there is no such thing as uninvested cash at Fidelity and Schwab relies on uninvested cash for 50% of revenue, Schwab must suck at almost everythi…
That felt like a bear market rally of those that were in the dumpster.
IWM up 3+% and SPY more than -0.5% last happened in Oct of 2008 - Bob Pasani, CNBC.
Glad to see Utilities and other touted as AI adjacent / enabled are decoupled lately inc…
These days, after clicking on a M* Fund Analysis, I only read the segments that are written by humans (you will see a human's name next to it) and skip the rest of it, which tends to be more misleading than useful.
Good post @stillers.
Tomorrow is bank earnings release start. Jamie Dimon is always the most listened to CEO and nobody expect him to paint a rosy picture.
If @Derf is OK, let us use this thread to post market sentiment and guesses during this …
@msf, all those and more limitations of Schwab are real and I had alluded to them in various posts. Great listing in your post - I am going to save it for future reference lest I forget as I have a short memory for pain. Some of these limitations …
+1 @Devo.
I would add that if you are a bottom up only investor / fund, focus can hurt biggly. High conviction with no flexibility can be dangerous. Having an eye on macro / momentum, in addition to focused, bottom up approach, allows one to navi…
@WABAC,
I did not know about BDAFX. Re its financial allocation, I see Visa, Moody's, SPG, MA, etc. in the top 10. I learned growth is a very broad term and as you implied, one must know where one wants to source or is sourcing growth from. E.g.…
"It's down to FDSVX or PRWAX. Tip of the cap to @stillers for drawing my attention to funds I had missed."
If you need further encouragement, I own both. Make sure to check they serve the intended purpose in your portfolio.
Regarding ER, I woul…
"BTW, originators of securitized debt (MBS, ABS, CLO) are now required to keep some on their books and there are also stricter clawback provisions for bad/defective debt found in the pool. These reforms came after the GFC."
Thanks. I did not know …
This looks like the variation of the housing disaster we had only 15 years ago. That was not too long ago and how the mechanics are already in rinse and repeat cycle. I guess greed never sleeps.
As a society, we admire / glorify people that com…
As the reference Asset moved up, the put option MAXJ bought (long) would have decreased in value and the call option they sold (short) would have increased in value. I was surprised that the cumulative effective of those had such a large impact on …
@WABAC,
Looks like you already own FDVV and FMILX and are recent additions. I think you also already own AMAGX. Why not increase those? GQEIX is also a good fund - not sure if you already own it.
Thanks, @Devo.
MAXJ remaining cap as of Friday is 8.53, down from Starting Cap of 10.64% (and closed at a premium of 0.24%).
https://www.blackrock.com/us/individual/products/337965/ishares-large-cap-max-buffer-jun-etf
Starting NAV is $25. NAV as…
05 July show seems not to be available?
Did they have a show yesterday? I do not recall Comcast giving me the recording. May be Bloomy gave some staff a long weekend.
@Crash,
I have seen their power grab. By doing so, they have drawn everyone’s attention on to themselves.
We are here - “Let us see how they use (misuse) the power, in addition to imposing their ideology on the population”. One way or the oth…
YBB,
Why bother buying and holding any index of small or mid caps? Tech companies go public these days as near large caps. So, very little growth potential left while in these indices. Seems like loss potential to zero and limited upside for comp…
Thanks for the reminder of reality and my own experiences. May be I should get a tattoo for every negative experience!
@yogibearbull, I forgot about those flash crashes. Is that we are in a low vol regime (quick dip buying) or PP really works to…
"Maybe people are connecting the jobs report to Powell's recent comments that have been interpreted as dovish."
Dovish may be for rates but not for equities where the action really stunk. Lower rates across the curve and mid, small, and micro equi…
Continuously usurping as much power as possible, Scotus are the puppet masters. The rest of the world are the audience.
@old_Joe, The above is from a couple of days ago. You and I are on the same page.
People give power to elected officials an…
So, I guess short term economic reports overwhelm even the 10 yr relative to longer term political winds.
Over in the UK, overnight, the Labor party had a land slide victory, doubling their seats in the parliament, while the Tories (conservatives…
Today's 10 yr rate is 6-7 bps lower than before the last presidential debate which was blamed for the past week's rise in yields.
what is the reason for the big move down in the 10 yr rate today?
Thanks, Equalizer. Blackrock will make their ER one way or the other. I am assuming they did not write the collar and so whether the collar was mispriced (and thus offering us a higher cap) is not their problem. They would want the cap to be as h…
Thanks @Devo. if we are to earn the dividends, that is another 1.4%, for a total of 12% return if we the full cap is realized at the end. I will take that.
@equalizer,
"Long term 100 year 1 year rolling returns shows market up about 75% of tim…
@Devo,
Please check out MAXJ holdings. Investing in IVV (not Treasuries) and using a collar (selling calls at the cap and buying a put at the buffer). Would love your insight into why MAXJ has gone for holding IVV when it could have held Treasuri…
Thanks, @equilizer.
Innovators has six 100% buffer ETFs, four of which are July products. 2, 1, & 0.5 yr measurement period (or defined outcome period) products. We discussed about innovators earlier in the thread.
I have to check out the Bl…
Thanks, @Devo, for the explanation about CPSJ construction.
I am not averse to paying fees but I would rather buy an investment grade fixed income product that more guarantees to give me a 6% return at the end of the measurement period than CPSJ'…
@Devo,
I would appreciate you indulging us (me) in figuring out the usefulness of this product in the current fixed income environment.
(Reading the article from Oaktree (Oaktree thread by @Mark) spurred my curiosity to extend the discussion on…
