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.
Banking in Canada isn't as fragmented as in the US. The Top 100 global bank list has several Canadian banks. Chinese banks dominate. The US banks are there but don't dominate the list.
https://en.wikipedia.org/wiki/List_of_largest_banks
Energy may have redefined volatility (besides cryptos, of course). XLE was very strong, crashed in June/July, and rebounded now with fury. ALL of its components are again above 200-dMA. If oil remains $90+ (new OPEC-put price?) and crack-spread rema…
Great Lakes Advisors is owned Wintrust/WTFC, a big Chicago area bank/financial. Apparently, Great Lakes is getting out of the listed fund business - it merged its bond mutual fund into Weitz WCPBX last year and now offloading 3 remaining equity mutu…
Sponsored ADRs are backed by the company and the issuing bank. They can trade on exchanges or OTC. Depending on the Level, the SEC compliance varies and the companies can even raise funds.
Unsponsored ADRs are NOT backed by companies. They can trad…
@Sven, there is something going on there but I don't know what. A full tax-free or partial tax-advantaged swap into BRK would seem like a no brainer. WB is very tight with sharing control or limelight and that may start to bug people too. Abel may h…
BRK is really a post-Buffett (91) play - can really go either way.
It was also in the news recently that the potential CEO Greg Abel (60) is very light in BRK stock. He had a choice to convert his large stake in the Energy unit into BRK stock (tax…
Doesn't matter for an ETN. Remember, ETNs don't hold assets, but are just sponsors' IOUs for payoffs based on benchmark indexes (Barclays in case of CAPD). But why hang around if you have replacement ideas.
On the other hand, OEFs/ETFs/CEFs increas…
Nobody departed. Co-managers were added to ALL of Rajiv Jain's funds to help him. He is founder & CIO of GQG, so has some other stuff to do too.
https://citywireusa.com/professional-buyer/news/gqg-bolsters-fund-lineup-with-pm-promotions/a2391684
While many bond funds use some derivatives, here were some flags for RPIEX:
High cash
Low genuine bonds/FI
Low duration M* 2.05, YF -0.04
SD OK at 4.4
Top 10 holdings showing several derivative positions. Normally, one has to scroll to the end of p…
See related cautionary articles. Much of the distribution is ROC and these have finite but uncertain termination dates.
https://www.simplysafedividends.com/world-of-dividends/posts/1368-royalty-trusts-why-most-dividend-investors-should-avoid-them
ht…
@yogibearbull : Do you recall why the DROP in price mid June into July ?
Thanks for the chart, Derf
LNG plant explosion in June in Freeport, TX sharply reduced LNG exports from the US. So, in a strange/counterintuitive twist, the price of the US nat…
Natural gas futures (NG) were up. Futures-based ETF UNG was up too. Natural gas in Europe is about 10x the price here, so companies can sell as much natural gas as they can make into LNG and ship.
https://www.cmegroup.com/markets/energy/natural-gas/…
Well, the general takeaway is that broad market VG ETFs are fine (SP500, total stock market, etc) but in specialized or illiquid areas (sectors, EMs, bonds, etc), VG ETFs may surprise with unexpected CGs due to their structural tie-ins with VG OEFs.…
Markets also cooperated by being mostly in bullish trend leading to fund inflows. Remember, VG has been the king of fund inflows.
Flipside of the connection between VG OEFs and ETFs is that when there were large redemptions/outflows in 2020 (and in…
@Crash, I extracted only the chart and skipped the rant (-:).
Comparing with an earlier chart posted, note that was an ESTIMATE in late-June of what the SPR level may be in October. This new chart is showing the CURRENT SPR level. The remaining dra…
Many variations are fund specific. Moderate-allocation (MA) funds may have many moving parts.
PRWCX isn't really a moderate-allocation funds (despite its classification as such my M* and others). It is capital-appreciation and has more of HY (65.19…
While there are formal definitions for allocation funds, my definition is any mix of stocks, bonds and alternatives. So, that is target-risk funds (static/strategic allocations CA, MA, AA, WA/IB), tactical allocation (TAA with variable allocations),…
@crash, I think that single-stock/bond ETFs are the latest bad idea from the ETF industry. It is known to throw stuff on the wall and see what sticks.
But the ETF wrapper does allow cash/non-margin a/c to use leverage and do shorting, not that tho…
There can be 2 sources of errors. (i) Mutual fund can adjust distributions including reclassifications of income, ST-CG, LT-CG, ROC. (ii) Broker can adjust cost-basis or reclassify ST/LT CGs or adjust wash-sales.
I investigated in order to determin…
Burry's portfolio may be $150-160 million. But he is mostly on the short side, is public about his moves and has made some good/lucky calls, so he makes news. In fact, Twitter is live with the news that he has liquidated 98% of his portfolio and thi…
Dr Ed Yardeni is generally bullish but is not a perma-bull. His data oriented website has some open access. He does built his own estimates bottoms up (like Scott Black) and I find that to be useful info.
Some trade violations occur when one buys and then sells before the trade settles to pocket the profit. Brokers think that it isn't fair to them. Others may occur in cash-accounts (i.e. without margin) and IRAs.
Well, look at profit jumps for global oil majors BP (triple?), XOM, CVX, etc. If +90% is busting through the roof, what would be descriptors for those other oil majors?
I think that much of Aramco profits first flow to MBS/Saudi Government and only…
Of course, Treasury auto-rolls at brokerages are at maturity into like Treasuries.
However, these single-Treasury ETFs roll into on-the-run Treasuries (i.e. most recently issued like Treasury) as soon as possible/practical. So, they are closest com…
JHG shows 30-day SEC yield as 2.66% for this ultra ST, FR/BL ETF. It invests in AAA tranches of CLOs. Can you explain what are you looking for?
https://www.janushenderson.com/en-us/advisor/product/jaaa-aaa-clo-etf/
Renewable energy is the cover story in the current Barron's. LINK1 LINK2
COVER STORY, “Clean Energy’s Future Has Arrived/6 Stocks to Play the Rush for Renewable ENERGY”. AES, BE, FCX, LG Energy (S Korea), PLUG, RUN, etc; ETF TAN
TRANSITION from w…
There is an interview in the current Barron's from a China fan, LINK1 LINK2
Virginie MAISONNEUVE, Allianz Global. An interview focused on China (VM has followed China since the age of 5, has degree in Mandarin, has worked in China, specializes in…
@hank, the threatened penalty for keeping VG mutual fund account is $20/yr/fund holding. So, for someone holding 5 VG funds in an account, it is $20 x 5 = $100/yr for that account. Double that if both husband and wife have VG accounts. We actually h…
IF M* keeps the promise of maintaining the old M* Portfolio until the new M* Investor has similar or better capabilities, that may be a LONG time. I doubt that will happen. Reason is that the initial M* Investor didn't even have manual portfolio ent…
I have to get this done too. According to the Vanguard notice, the deadline is 9/30/22. I have avoided doing this as long as possible. Many posters at other sites said the process was simple, straightforward and easy. So, it is unclear what caused t…
There was a post at M* Discussions (long thread, post# 326, warning - needs lot of scrolling) yesterday that offered a ray of hope. https://community.morningstar.com/s/question/0D53o000066YnacCAC/does-anyone-else-feel-like-the-new-morningstar-inves…
Consider them in light of the broad net-zero targets globally. Several developed countries have net-zero target as 2050, China 2060, India 2070. This phased approach by VESGX seems sensible, and a bit on the aggressive side.
@Observant1, the high correlation between the market and A/D line is seen on the chart. But there can be short-term divergences (nonconforming). The A/D thrust days were mentioned earlier - another sign of cash on the sidelines burning hole in inves…
