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.
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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.
Somehow people participating in polls think they are influencing those consuming the poll data. Similarly, people who post political and strong personal preferences also think they are influencing/ converting others to their presumed enlightened vi…
“Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The objective is to recognize the trend whose premise is false, ride that trend, and step off before it is discredi…
Investing is difficult and humbling and I have difficulty making money in the market (US) I live in. My respects to all you guys trying to invest in far away lands.
@wabac, sent you a PM.
Passive works when beta is eating alpha. I think the bigger lesson is stop doing what is not working, not just in investing. But it is difficult to quit bad habits, like picking up cigarette butts or deep values. If inclined to sticking with conv…
This forum gets a lot of political pot shots in the name of economic and investing discussion. As I have said many times, I would pay for that Ignore function / feature I have asked for.
Here is Moody's view -
https://x.com/Markzandi
May be one day they would do the same for US saving bonds which are currently eligible for tax exemption if used for education! One way to please the younger generation!
P.S.: I do not own Series E. I only own IBonds in trying to anticipate infla…
I will sell my position if you all want it to go up
We all feel that way. Check @JD_co posts about him being a contrarian indicator. JD says he only needs to think about a trade (and not actually do it) and the price will move in the opposite dire…
@WABAC, I corrected my post for PYLD TR. Your # matches with Yahoo Finance and so M* # now must be correct. interestingly, M* now shows PAXS YTD TR at 16%. I remember last night it showed something like 8%. If it is truly 8% more, it is free mon…
Duration for PRWCX is 3.89. Is that working out for any kind of bond holdings this year?
I know a few, some in this forum, that do not have access to PRWCX but like the manager and have tried to create their own PRWCX by pairing TCAF with PYLD. PYL…
A quick update -
YTD, 4.9% for PRWCX vs 10.17% for TCAF
PRWCX has 63% in equities as of 4/30. If one put 63% in TCAF and bought very safe bonds / bills (or even MM type) with the remaining 37%, one's YTD return would be around 7.4%. Nearly 50% h…
Schwab is running a promotion for transferring assets from Fidelity. If you are transferring from VG, then you might need a two step process, with a stop at Fidelity!
Hi @mikeW, I hope we can have a column for you in the coming month's MFO on International Equities allocation as Part I. Will try and write about funds next month.
You probably only have a couple of days to crank that out. It will be great if you …
@Sven, Thanks.
That is plenty. No need to find that thread for me. I think VG will straighten by shrinking or decelerating the increase in AUM or increasing fees and devoting more resources / $1 AUM to create a better platform. When that Bogle…
It is a concentrated portfolio and feeling today the massive drop in sales force price. I started a 1% position in Nov and will stop there to focus on passive funds.
When US interest rates come down ($ should come down), US small caps should perform; do I need international?
Did anything at Grandeurpeak change, causing you to give them a second chance? Fool me once and all. Edit: misread ticker in Mike's OP.
@Sven, why were they discussing transfers to Fidelity on Boglehead forum. As in, what was the context? I thought Boglehead is like a church, you do not talk about other religions there!
@BaluBalu- thanks for the info. Re job experience vs learning, speaking for myself I was always learning something new, right to the very end. And I was regarded as "the guy who wrote the book" at our shop.
Being good at one’s job includes ability t…
@BaluBalu- I'm a little confused by "if there is no fees being charged, then you know for sure it is a new issue", because I frequently buy secondary Treasury issues at Schwab which show "No Fee" on the trade ticket. That would seem to suggest diffe…
@MikeM,
I spoke with a fixed income veteran at Schwab.
They do not list new issue Agencies separately. If something is offered at par, you can guess it is probably a new issue. Then on the trade ticket if there is no fees being charged, then y…
Its not a fad if people keep believing it will keep them safe (it wont).
I know. I am starting to learn how big a role BELIEF plays.
There is probably demand for these products, given GraniteShares had some successful idiosyncratic entries. M…
@hank,
May be you did not intend but mentioning Felix could give the impression to others that today's discussion is another needless caution, as many associate Felix with lost opportunities. But I hope no one, except deft traders, in this forum…
NICHX was -4.00% yesterday. Doesn't look like a distribution, timing wise. Maybe a price misprint (NAV error)?
I checked a few sites and they all show a down day. If an error, it must originate from the fund itself
GraniteShares filed to issue “Yield Boost” ETFs which would write covered calls on leveraged ETFs. Is that a sign of peak for the covered call ETFs fad?
It is strange the oil patch is seeing so much M&A as if they want to get all the M&A activity before the elections. While the rest of the private sector is struggling to get past FTC. May be we will see Standard Oil again!
@MikeM, None of the big brokerages I have access to, no fees is charged for Treasuries, New or Secondary. I did not look into why, as that is not important to me.
Based on your reply yesterday, you bought the secondaries below par. As you find ou…
Thanks, Guys. I did try that way and New Issues is not a choice available for Agencies. But under Bond Type there is a choice for Recently Issued, which implies secondaries. There is a transaction fees for secondaries. I tried to speak with a fi…
@MikeM, I only see the following at Schwab under the heading New Issues:
New Issues
Treasury Auctions
New Issue Municipals
Retail Notes
Mortgage-backed Securities
I do not see Agencies in this list. Are you able to help? I will call Sch…
Yield to call on bonds trading under par will always be higher, because it adds the percentage difference between purchase price and call price to the “yield” of the bond itself.
Bonds trading above par can have a yield to call less than coupon yi…
Bought a callable10 year Federal Agency bond in my Schwab IRA, yield 5.97%. Yield-to-call is 6.175%. First call is 2/24/25, which I assume will happen.
I've been playing the same callable game as @BaluBalu on these bonds, and they do readily get ca…
@Sven,
You are right. About tomorrow's auction, I inadvertently missed the stuff above the memorial day row. The 2 year looks tempting, given a lot of inflation data releases around the world next week.
@Sven, I do not recall seeing new issue non-callable Agencies in the past two years. I suspect, if they exist, the spreads over comparable Treasuries would be miniscule (10-20 bps) and may not be worth chasing such Agencies, especially because of t…
Thanks, guys.
If Yahoo omits a brokerage and the fund is available at that brokerage, then I would be concerned about using Yahoo Purchase Info. Otherwise, it is the best we got.
@yogibearbull,
Thanks but I do not see the platforms / brokerages where different classes are available to purchase. That was the useful information previously. While tickers for various classes is appreciated, we could get those also from the fu…
Thanks, @stayCalm.
M* used to have a tool / tab that listed all the platforms / brokerages where different classes of a fund are available. Is that tool still available?
