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.
Banks & financials can count preferred as Tier 1 capital only when they are noncumulative; some exceptions may apply. So, there are rarely any bank/financial preferreds that are cumulative.
https://content.next.westlaw.com/practical-law/document…
@Observant1, interesting info about REFLX REIT under the newer interval-fund structure, not the older, opaque Nontraded-REIT structure.
So, DAILY valuations, DAILY purchases at NAV at market close (may include applicable sales load), minimum 5% RE…
BTW, the earliest reference to interval-funds at MFO that I could find was in 2013 by @David_Snowball who was reporting on M* Investment Conference about this new thing called IFs.
In looking over some old MFO posts, I also saw some mixed-up usage …
Green-bonds raise money for clean-energy and other ESG related purposes. It is a way to tap into the ESG wave (it has subsided some in 2022). They were launched about a dozen years ago.
https://www.climatebonds.net/market/explaining-green-bonds
htt…
Re @David_Snowball #4 in the forthcoming January 2023 issue, "Identify opportunities in small caps (especially small cap value)....."
The current Barron's has a feature story on small-caps with lots of data (but un-linkable chart and tables),
BULL…
@Sven, the next FOMC is Dec 13-14. Fluid CME FedWatch is currently showing 50-50-25-0 to 5.00-5.25% peak rate.
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html
Powell has been looking for short-term yield-curve inversion, in 3m-18m, 3m-3m18mForward, etc, but these data are hard to find. Today, close and easily accessible 3m-2y also inverted by 8 bps.
https://stockcharts.com/h-sc/ui?s=$UST2Y-$UST3M&…
New developments - BReit suspends redemptions.
BReit is an unlisted/nontraded interval-fund that has limited redemptions (2% per mo, 5% per qtr). If redemptions resume in Jan, fine; else, a problem.
https://community.morningstar.com/s/question/0D53o…
After Powell's dovish comments today, the CME FedWatch shows for the next 4 FOMC meetings: 50-50-0-25 bps hikes to 5.00-5.25%; not much change from Friday when it was 50-50-25-0. But the market wanted to see things with rose colored glasses. Anyway,…
I doubt that most universities would be profitable. Private universities rely on about 5% draw from their endowment funds; tuition may cover about 50%. Public universities have state subsidies that may range from 10-80% (depends on their types); tui…
TIAA Traditional Rates, December 1, 2022
Restricted RC 6.50%, RA 6.25%
Flexible RCP 5.75%, SRA 5.50%, Newer IRAs 3.65%
https://ybbpersonalfinance.proboards.com/thread/142/tiaa-traditional-rates-monthly?page=2&scrollTo=853
TSP G Fund hasn't upda…
Fund Allocations (Cumulative), 10/31/22
There were notable increases in the allocations to stock funds, and declines in those for bond and m-mkt funds. The changes for OEFs + ETFs were based on a total AUM of about $27.05 trillion in the previous m…
@Mark, stocks/ETFs/CEFs mentioned in weekend Barron's typically get 1-2 day (Mon/Tue) bounces but there isn't any long-term effect. This Barron's effect has been getting diluted because many stories are now published online on Friday while the marke…
Barron's options guy Sears noted in the weekend issue the recent bounce in FXI and thought that investors were looking ahead for 2023. He recommended calls on FXI. May be this mentions also caused it to go up when the China and HK markets closed dow…
The same analyst had a long dedicated M* Fund Spy piece on 9/9/22.
https://www.morningstar.com/articles/1113488/why-we-downgraded-one-of-matthews-asias-biggest-funds
The current crypto proposal in Congress is already being mocked as SBF/FTX-proposal that makes the CFTC as the regulating body for cryptos. It has other strange ideas too - self-certification for custody assets, etc. From what has transpired recentl…
@Mark, the 1st click in PV changes "Year-to-year" to "Month-to-Month". The starting month is from the 1st day, the ending month to the last day (28/29th, 30th or 31st).
https://www.portfoliovisualizer.com/backtest-portfolio
@Mark, Giroux started with PRWCX in June 2006.
Comparison with FCNTX (Danoff) isn't fair as that is 100% stock vs PRWCX that is typically 60-70% stock.
@Crash, that is IRS' prorata withdrawal of tax-deferred (most) and nontaxable (some) funds from T-IRA and keeping track of the "basis" with annual Form 8606. There are only 2 ways to get around this:
1. Ignore nontaxable funds and pay tax on 100%. …
Real estate is unique in that one can "eat" depreciation. This is because land and "improvements" (we may call them homes/houses) tend to increase in value over time. This is unlike most businesses that will eventually die without redeploying deprec…
Neither M* Portfolio/Investor, nor Stock Rover (SR) handle individual bonds, Treasuries, stable-value/SVs, CDs. One has to enter them manually, and then also enter periodic interest as new purchases periodically.
I started some pointers for SR that…
@sma3, I have been filing paper returns and I have been getting refunds in expected timeframe (several weeks after the filings); for balance due, I use IRS Direct Pay (and that is quick). Your Mom's estate return may have different processing.
I concur. A question for Yogi - why do you not post your Barron’s summary here?
I post several series here, including Barron's Funds Quarterly (the earliest of my series here). But so far I have not posted weekly Barron's summaries here. I have po…
If you have new money to deploy, another 13- , 26- , 52- wk T-Bill auctions are near the month end, November 28/29 (Mon/Tue) (orders can be entered now), and then again on December 27 (Tue).
If want to extend maturity, may be use 2-yr T-Bill/Note …
Thanks!
The 2+ years that I have been at the MFO have also coincided with the time for my switch from a dedicated single-site poster to a multi-site poster. Now MFO (really a funds+ site) is among the sites that I visit more often. I found several …
2022 has been an unusual year for the AAII Sentiment, a contrary indicator. The low-high ranges YTD are:
Bullish: 15.84% (4/14/22) to 33.33% (8/18/22)
Bearish: 27.54% (3/31/22) to 60.87% (9/22/22)
Bull-Bear Spread: -43.1% (9/22/22) to +4.3% (3/31/2…
As a Stock Rover user, I cannot see the new deal - the link in the OP just logs me in.
I recall that Stock Rover had 14-day free trial. Then, one has to sign up for 1 of 3 levels: Essentials is OK for quotes, charts, etc, but one needs Premium for …
For lower-quality HY/EM bond funds with high 30-day SEC yields, watch for deteriorating fund NAVs. That may be for 2 reasons:
1. Some holdings defaulted,
2. Premium bonds used to juice up distributions (beware of current-income vs total-return objec…
@Sven, Treasury doesn't provide good explanations for reopenings. My guess is that it increases the size/liquidity of some Treasury CUSIP#. Most reopenings are 1-2 months after, but TIPS may be reopened 2-6 months after.
Due to Fido's push for cryptos in general, and for 401k/403b in particular, I also started the "Crypto Crash" thread at the Fido Investment Community, a closed, by-invitation group for Fido account holders (links from there cannot be posted elsewhe…
Most Treasury auctions issue new Treasuries. But there are several Treasury auctions with reopened older issues - these reopened issues have the same as original issue date, CUSIP#, maturity date, interest rate. The auction announcement will indica…
For deeply discounted bonds, the 30-day SEC yield assumes par at maturity (ignoring default risks), so be cautious.
https://ybbpersonalfinance.proboards.com/post/705/thread
Just keep in mind that POD/TOD is an easy estate TRANSFER mechanism that doesn't cost anything (if the designation allowed).
CD survivor/death-put option is an estate PROTECTION feature that will cost as lower interest rate (if allowed). There are …
