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Nikkei 225 was down -12.40% overnight. It's now down -25.85% from mid-July high. Global markets are also selling off but not to that extent. VIX has spiked to 52.
Geico had a loss in 2022.
It then cut costs and jobs, raised premiums, gave up some market share to become profitable in 2023.
Results of turnaround are showing in 2024.
It margins as % of premium have improved to 17%. Changes in profit levels alone…
Balance screen may update overnight only. If you cancelled an order, and if the system allows it, you can buy with those funds. I have margin, so these transient issues don't arise - there won't be a margin impact.
Although Powell said that the FOMC is NOT looking at larger 50+ bps rate cuts, the CME FedWatch is showing precisely that. There are also rumors at X/Twitter of a pre-September FOMC rate cut.
https://www.cmegroup.com/markets/interest-rates/cme-fedwa…
There is now a standard construct for newer term-structure CEFs with the life of 12.0-13.5 years that several CEFs follow. Examples are from Nuveen, Pimco, Thornburg, etc. Variations are also possible but may take longer for SEC approval.
All Edgar/SEC filings for PSUS.
https://www.sec.gov/edgar/browse/?CIK=2002660&owner=exclude
No filing yet to withdraw the IPO. But it must be coming as that has been leaked to the press.
The last filing is dated 7/30/24 that indicated a sharpl…
Post-Conference Notes by YBB
Rates were maintained - fed funds 5.25-5.50%, bank reserves rate 5.4%, discount rate 5.5%. Treasury QT continues at the reduced level of -$25 billion/mo, but MBS QT remain at -$35 billion/mo.
Inflation target remains +…
There is news today that Project 25 Director has quit & the Heritage Foundation is putting the Report & related PR on back burner. It's just a think-tank report that no one commissioned or endorsed.
The US is a melting pot of immigrants. But the path to naturalized citizenship is long. In many families, one or more members may be noncitizens. Briefly outlined in the link from IndoUS Tribune (a local community e-paper) are situations where your …
Agree with @gman57 - edit & move to Discussions.
Minor tinkering:
In stocks, you have LCG and LCB. May be switch LCB SP500 VFIAX / VOO to LCB total stock VTSAX / VTI.
In bonds, may be switch from Total (investment-grade) Bond market VBTLX to …
I am a bit familiar with Empower as it handles 401k of a relative. But I never looked at its free personal investing dashboard. Looks like it is only an app without a PC version. I will try to find out what info is available without setting up a log…
Market-neutral (50-50 long-short) global ESG quant fund from Bridgeway. High expenses of 6.17% after 1.38% waiver until 11/1/25 are from a complex absolute-return strategy.
Roth IRAs became popular after 2010 when the income limits were dropped.
Rorh Conversions don't require earned income.
But recently, the stretch was eliminated for most beneficiaries - now most inherited IRAs must be drained in 10 years & annu…
$25 billion?
Oops! After the roadshow, Bill Ackman will be happy with only $2.5-4.0 billion CEF PSUS initially. He will hard-cap the fund at $10 billion - doesn't he know that "C" in CEF means closed, & they don't grow like OEFs or ETFs? To get…
@Charles, I didn't see the note at the top and was looking only at the legend below. Either place is fine, but you may want to note that this rollup is for flows AND AUM. As I noted before, different websites present AUM data differently - M* now on…
That's good - to show totals for the oldest asset class. But expand the note at the bottom to indicate this.
Looking at DODGX, it seems that the main display has total flows and total assets (checks with total $109.1 billion at M*; Fido has class A…
New poster, welcome!
There are several areas of the MFO Website:
Discussions - Funds (OEFs, ETFs, CEFs) related
Other Investing - Non-funds related and general strategies
Off-topic - With little or no relations to investments, or investment topics o…
@Mona, even within categories, active manager styles vary, so it's OK to hold 1-2 active funds in the categories you hold. This isn't an issue with index funds.
I would be comfortable holding 25-75% in a fund.
Diversified Funds https://ybbpersonal…
@Crash, that RMD amount calculation for younger spouse applies to T-IRAs and 401k/403b. There are several RMD calculators; the sponsor or the plan may provide calculations.:
https://www.aarp.org/retirement/required-minimum-distribution-calculator/
h…
I posted on it a few days ago and highlighted,
"Morningstar's John Rekenthaler starts with a simple but unusual observation that if 2 assets have the same long-term (LT) TR, then rebalancing will definitely benefit the TR."
In all other cases, reb…
Often recommended limit of 5% applies to individual stocks to reduce company specific risks. So, people holding only stocks (i.e. no funds) should have a portfolio of 20+ stocks.
Must funds are diversified, so they can be held at much higher levels…
L-S lite, 130-30 L-S funds were popular at one time. Fido also had one too. When that fad passed, firms changed the names.
Something similar is going on for ESG now.
One important takeaway is that it’s still preferable to roll Roth 401k/403b into Roth IRA.
Levine’s interpretation of an obscure clause is that when beneficiaries are “Designated-Non-Eligible” (a common situation), and death occurred after the RMDs…
BLNDX / REMIX name has "Multi-Asset". I checked that those include stock ETFs, long-short derivatives and cash-equivalents to support derivative positions - and that it!
This isn't what a typical multi-asset fund has - stocks, bonds and alternativ…
I have margin in (taxable) a/c at Fido and Schwab. Although I no longer use margin debt (so, my margin loan balance is $0), I like the benefits of the margin feature in easier trading - orders can be entered with zero net impact on the settlement da…
A disturbing update.
Nonbank fintech apps Yotta and Juno provided customers false or misleading assurances that their money was safe with FDIC insurance. Synapse handled that money as intermediary between Yotta, Juno and the FDIC insured banks (Evo…
If you cancelled the transfer, that shouldn't happen.
But if you clicked on some tab that asked how to fund the transfer to avoid margin, then the sell and transfer would be tied.
FYI, to avoid possible mistakes (and I have made some), I always do…
NYU law professor Daniel Hemel digs deep into the mechanics of the ETF BOXX and the fuzzy areas of tax laws (sections 1258 and 1092) that its tax deferral claims to exploits. He thinks that eventually there would be an IRS clarification or challenge…
Size of R2000 is tiny % of the total market-cap (R3000). As noted in weekend Barron's,
"The SCs R2000/IWM now are near 20-year low at 5.2% (by market-cap; the recent peak was at 8.8% in 2006) of the total Russell R3000 universe."
It should be poss…
LC to SC rotation started on July 10 & can not longer be ruled out as a 1-day fluke.
Ratio IWM:SPY stockcharts.com/h-sc/ui?s=IWM%3AONEQ&p=D&b=5&g=0&id=p37185738747
Ratio IWM:ONEQ stockcharts.com/h-sc/ui?s=IWM%3AONEQ&p=D&…
@Charles, good list of Morningstar/MORN achievements as it has made the successful transition from a small-time mutual fund information provider to a global fintech power house - sort of a mini-"Bloomberg".
In the meantime, M* has done everything …
Checked HOBAX / HOBIX. It does invests in BDC baby bonds. HOBAX is no-load/NTF at Fido only (not at Schwab).
https://www.holbrookfunds.com/_files/ugd/0b9fcd_f222282487f94c3490f5c24fb5daa6e6.pdf
VIX was supposed to follow global events 24/7, but instead, cryptos are almost doing that now.
https://stockcharts.com/h-perf/ui?s=COIN&compare=DJT,$BTCUSD&id=p13316794986
Baby bonds is a term used for bonds that are issued in $1,000 denominations and often trade on exchanges. These are popular with retail investors. Why would you want to limit the OEFs, ETFs, or CEFs to such baby bonds only?
Edited for clarity & …
It doesn't matter whether there is 1 manager or multiple managers.
The fund firm matters a lot. For example, Fido managers have great institutional support whether a fund has star manager (FCNTX, FDGRX) or a crowd (FBALX - a graveyard of former Fid…
@Crash, good that you found it useful.
I just searched small estate probate rules in Hawaii (each state has some variations), and the info says that the limit in Hawaii is $100K (in financial assets), BUT if any real property is involved, and there…
Edited
That was Eddie Lampert - his bright idea was to buy Sears and Kmart just for the real estate, run them down, and make tons of money on real estate. Problem was when the anchor stores failed, big malls failed, the real estate values collapsed…
