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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.
Thanks. I need the state tax deduction and hence the desire for Treasuries and related. I think I will buy Treasuries next week if I can not find a Treasuries only ETF. Floating rate Treasuries (USFR) reset based on 3 mo Treasury bill rate.
In…
That ER is good. Thanks for highlighting the fund. Bought an initial position to do more research.
All info as of 10/31 -
Country diversification shows less than 50% invested in US issuers but 100% USD. Corporate is 72+%. As it relates to …
@msf,
Need clarification on two sentences from the posts above:
"I just spoke with a Fidelity private client rep who said that this is a fee that Fidelity merely passes through to the brokerage."
Based on the context, I think you meant "fund' whe…
Fund managers are more adept with callable bonds.
FWIW, one common strategy by "income funds" is to buy premium bonds to boost the current income. But this is at the expense of declining value to par.
The "total return" funds may buy discount bond…
Buying esoteric risk or funds requires that one is like a zen master, without mental frictions, so one exits the position as easily if necessary. IMO, these are not for people who are overly analytical or those that need a lot of answers before act…
If PRCFX is just a more conservative clone to PRWCX, I wonder if owning PRCFX and adding the equity ETF, TCAF, would make it just like PRWCX. Should be an interesting chart to follow.
When this fund is available at Schwab, I'm sure there will be a…
Another matter some may not be aware of. In addition to your Medicare Part D plan through a private carrier, if your income is above a certain threshold there is a Medicare Part D IRMAA. This varies from $12.90 to $81.00 per month and deducted f…
85% of cost is the cap, irrespective of whether @junkster makes $1m or $1b per year, which should alleviate his concern that his premiums are going to keep getting worse as his income keeps rising - in other words the income effect has a cap.
I hav…
That is a very long, long list - did not know that many launched in 2023. Many are not seeded by fund companies. I wish the website gave a choice to view them by categories.
Given the fungibility of MM AUM and commercial bank deposits, I think bank deposits should be part of the analysis / conversation.
Just saw a Bloomy headline indicating $1T moved from banks to money market mutual funds. If any one has subscription,…
Medicare wasn't up big. So, IRMAA? It's painful the 1st year it hits, then one gets used to it. For couples, it's 2x ITMAA.
Yes, IRMAA. Still a bummer. It will only get worse as I get older because of my increasing RMDs.
Thank you for contributi…
@Baseball_Fan,
I was not passing a judgement on your process or the fund (which I do not own). I was only making a suggestion to improve the readability of your post(s) for the readers' benefit, under the assumption that one would like the readers…
@Baseball_Fan,
"has underpeformed 100% cash holdings"
Based on your recent posts, "cash holdings" appears to be your choice comparative asset. If you would like your comparison to be useful to readers, you should define what you mean by "cash hol…
@hank, ETFs AUMs are more stable than mutual fund AUMs. This can be observed from mutual funds besieged with outflows converting into ETFs. Equity mutual funds will continue to lose AUMs to ETFs.
I always wondered how American is going to convert…
QLTY AUM is missing at most sites (M*, Yahoo Finance, Nasdaq, Fido), including at GMO. But I downloaded its holdings as of 11/22/23 from GMO site, added up the market values of all holdings, and that is $8.01 million. May be this is what they mean b…
@Balubalu yes I have also been following the volume in QLTY with great interest… as of today the average volume is about 85K… I think the AUM must be larger than $3M… perhaps they haven’t yet updated the AUM.
Not updating is not a choice. They are …
Back to the subject of the Thread.
QLTY trading volume continues to be odd. Everyday since its launch, the volume is higher than the previous day but the AUM remains the same $3.1M (as of today's market open). Today's volume is large enough that …
Not suggesting we are in a stock market mania, but in a mania market, expect MOAT to underperform. When MOAT changed its methodology in 2016, they made a small fix to it traditionally disregarding the Momentum factor but not a large enough fix.
M…
@BaluBalu GMO rebalances the portfolio monthly, so the 15% on M* seems low...it's more like ~50% from our view.
Appreciate your responses to my questions. Do you by any chance know the monthly rebalance dates / schedule? My interest is more not t…
@yogibearbull,
Thank you for checking. That is transparent.
M* shows portfolio turnover for GQETX - 15%; JQUA - 18%; QUAL - 58%. The as of dates are different and as you all know because of how M* calculates turnover, fund flows can impact the t…
It started with 35 investments. I am calling it focused to semi-focused - there may be an industry definition but I have not checked. I think the 35 is consistent with @rsorden earlier post.
Its ER is 0.5%, the same as the ER of GQETX - their G…
I took an initial position as today's volume was decent and B-A spread was the acceptable 1 penny. I tried to figure out its starting AUM and the two sites I use for ETFs do not even recognize the ticker yet. Neither did M*.
Looking at the hold…
@BaluBalu Yeah, they do a bit of catering to us since we have over $300 million just in the Quality fund.
My apologies for not recognizing who you are. I could not look up your member profile. Could you pl disclose either in this thread or via mess…
Those r the Quality returns if you strip out the int'l exposures. The US only strategy is a very new strategy, most clients just use the general Quality strategy. They are basically the exact same thing, for example, the 9/30 holdings for US only ar…
OK, just got info thru 9/30 (all vs S&P 500):
YTD 22.2 vs 16.9
1Yr 25.0 vs 19.6
3Yr 18.5 vs 14.6
5Yr 15.5 vs 12.3
10Yr 14.8 vs 12.9
That is impressive.
Just to make sure I understood the above returns.
They are GMO's SMA portfolio returns u…
Mutual fund search tool is here - https://www.interactivebrokers.com/en/trading/fundscanner.php#/
Under Fund Type they have 9 choices. Depending on how one reads the sequence of these choices (top to bottom or left to right), "Equity" is either se…
I have not been to a Schwab branch in more than a decade. I like to not have to interact with customer service at any brokerage but if something goes wrong, the customer service needs to be available and be competent and not just BS away. Many pos…
Have you guys looked into JSI? Janus Henderson Securitized Income ETF. I had to look up its chart to know that it is three day old.
https://www.janushenderson.com/en-us/advisor/product/securitized-income-etf-jsi/
