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.
S&P is copying the iShare trick with older ETFs and newer "core" series ETFs, e.g. EEM and IEMG. At the time of introduction of IEMG, EEM was the higher ER giant and iShare said that IEMG was for small investors with lower ER but not so good liq…
That was UGLY!
Free Stockcharts has a limit of 5 charts to display. So, the 2nd link replaces small-cap R2000 with DJ Utilities and those who recently chased the uncharacteristic rally in utilities also got hurt. Reset times to YTD if the links de…
DOL will talk with Fido about ERISA,
https://www.coindesk.com/policy/2022/04/29/us-labor-department-has-grave-concerns-about-fidelitys-plan-for-bitcoin-in-401k-retirement-plans-wall-street-journal-reports/
In cloud-computing,
#1-AWS/AMZN
#2-Azure/MSFT
#3-Google Cloud/GOOGL
One cannot buy these cloud units separately (there are no tracking stocks for those). They come with the whole.
https://www.zdnet.com/article/the-top-cloud-providers-of-2021-aws-m…
With SP500 VIX around 30 and Nasdaq-100 VXN around 35.5, daily volatilities (with divisor of about 19) are +/- 1.6% for SP500 and +/- 1.9% for Nasdaq-100. That is what we are seeing with huge intraday and daily moves.
Geode Capital was launched by Fido as an internal unit but was spun off. It is the index advisor/manager for Fido index funds. https://en.wikipedia.org/wiki/Geode_Capital_Management
M* has a better picture for holders of AMZN by "Funds" and "Insti…
3/31/22
Tiny changes from previous month. These 3 months YTD have seen lot of volatility but the fund investors have stayed put.
OEFs: Stocks 53.99%, Hybrids 7.09%, Bonds 20.77%, M-Mkt 18.16%
ETFs: Stocks 82.51%, Hybrids 0.54%, Bonds 16.94%, M-Mk…
BTW, Q1 GDP growth was NEGATIVE. Either the market hasn't had time to grasp that, or it is celebrating.
Now Q2 GDP growth will likely be negative too.
That is spelled RECESSION.
https://www.cnbc.com/2022/04/28/us-q1-gdp-growth.html
Brent futures never went negative. They are settled in cash.
WTI (light/sweet crude) futures did go negative in 2020. They are settled in physical oil. Cushing, OK ran out of storage. Buyers near the furures contract expiry were stuck with physical…
Archegos collapse last year & its aftermath. https://www.google.com/amp/s/www.cnbc.com/amp/2022/04/27/archegos-owner-hwang-former-cfo-halligan-charged-with-fraud.html
These huge daily up/down moves point to some institution(s) doing major asset re-allocation, or some broker(s) raising huge cash - it isn't easy to suddenly raise $44 billion in cash and there may be related hedging, not to say what international in…
Time to pick up on this update. 2 views of major indexes, 1st YTD (shows Nasdaq Comp down -20.16%), 2nd from 11/22/21 that was Nasdaq high and from there it is now down -21.22%, in a bear market and below 3/14/22 low.
Indexes YTD https://stockchart…
New SEC/Edgar filing today - breakup fee $1 billion; no-shop provision for Twitter but Twitter has to consider a better/higher offer if it comes; other usual contingencies related to shareholder vote, anti-trust/regulatory clearances, etc.
After-h…
Here it is,
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001418091/000119312522117720/d319190d8k.htm
https://www.sec.gov/Archives/edgar/data/0001418091/000119312522117720/d319190dex991.htm
Summary to follow - well, really not much new.
"Trans…
Amazing that no filing on the deal with SEC/Edgar YET (Monday 3:20 PM Central)! Normally, that is the first thing companies do and then let news disseminate from that. So, here may be Musk's Twitter snubbing SEC?
https://www.sec.gov/edgar/browse/?CI…
Don't overlook that Jack Dorsey and Elon Musk are friends. How did all this start soon after Dorsey was forced to resign from Twitter. Musk has said that he will get rid of current Twitter Board, or will drop their compensation to $0. Will Jack Dors…
There are reports of a deal but no SEC/Edgar filing yet.
Looking at the details of financing from 4/21/22 filing,
https://www.sec.gov/Archives/edgar/data/1418091/000110465922048128/tm2213229d1_sc13da.htm
$13 billion, commitment letter from Morgan …
At current 6% discount from previously reported $54.20, market seems to believe more than before. But details remain pending - breakup fees, shop-around option, other terms, etc.
I think that son Howard Buffett is the non-exec successor Chairman (nepotism is practiced here) and Greg Abel is the successor CEO.
CALPERS is just making noises. It and proxy firms may be making a point about WB summarily rejecting some governanc…
Floating-rate/bank-loans (FR/BL) are a subclass of HY even though M* created a separate category in 03/2003. M* intent then was to focus on this subarea, but the M* article author linked in the OP treats FR/BL as something entirely differently from …
No one has commented on the TRANSPARENT structure of these ETFs. It will join a small number of active equity ETFs that will publish portfolio holdings DAILY and more frequently to professionals as needed. It may not be worried about others frontrun…
@BaluBalu, first there were 5 nominations: Powell, Brainard, Cook, Jefferson, Raskin
But Raskin had to withdraw and the replacement now named is Barr.
So, it is 5 nominations again and they can move as a group.
Senate is too busy with lots of big…
Not possible.
OK to convert paper Savings Bonds to electronic form, but reverse not possible.
That is why I suggest people not to rush with paper to electronic conversion - its a headache & then irreversible.
@sma3, no.
Only Treasury Direct can hold electronic I-Bonds.
If you have paper I-Bonds, you can hang on to them and hold them in bank locker.
But TIPS can be held at Treasury Direct or brokerages.
@BaluBalu, clearly, it is important when the money is taken from the account for Treasury Auctions, whether on the Auction Day or the Settlement Day. We know that for Treasury trades in the secondary market, money will be taken out on trade-settle …
I had an order at Schwab for 5-yr TIPS auction that was today. As I remembered from my prior experience a couple of years ago for buying T-Bills at Schwab, money was taken out from my account TODAY about 1/2 hour past Noon. So, Schwab didn't wait fo…
@BaluBalu, 2-yr FRN Announcement is out. Try online orders at Fido and/or Schwab now.
https://www.treasurydirect.gov/instit/annceresult/press/preanre/2022/A_20220421_5.pdf
Edit/Add: I don't see them listed yet at either place. I won't be at my PC f…
Just to be clear, my triple+ benefit of current HSA was for i) pre-tax contributions, ii) tax-deferral on earnings, iii) tax-free and penalty-free withdrawals for qualified medical use, and then "+" for penalty-free but taxable withdrawals for nonme…
I know people who would be very upset at Disallowed #2 as they also considered HSA as a supplemental IRA. Some who were sitting on the fence on the HSA were swayed by the allowed nonmedical use of funds after 65. If this proposal becomes serious, th…
Unclear what exclusivity of the deal means. I just checked that many Price funds remain no-load/NTF at Fido too.
https://fundresearch.fidelity.com/fund-screener/results/table/management-fees/averageAnnualReturnsYear3/desc/1?assetClass=&categ…
Saba runs a FR/BL CEF BRW that trades at good discount.
https://www.cefconnect.com/fund/BRW
Saba also has an ETF CEFS that opportunistically owns CEFs at discounts. GIM is only a tiny weight now 0.60% (I think that it used to own more at one time)…
@CarlosDS, good to see you here. I have a small private directory of who is who where but I obviously I won't make it public. There are indeed many people here that I know from elsewhere (they may not know it). I am the same old everywhere (-:).
I have suggested in past the Fidelity Asset Manager series for benchmarking. This series has equity allocations of 20%, 30%, 40%, 50%, 60%, 70%, 85%. https://www.fidelity.com/mutual-funds/fidelity-fund-portfolios/asset-manager-funds
5 members of t…
Owned but got out of GIM long time ago. Michael Hasenstab lost his golden touch long time ago. He seems to chase disasters without anything to show for them. His used-to-be giant global bond TPINX is a shadow of former self due to heavy redemptions …
Now I have a non-linkable "proof" based on checking numbers on our OWN tax returns and what was mentioned in our SSA "DETERMINATION letters" (received typically in November/December) that it is like the 1st FORMULA. So, the SSA takes the AGI from th…
There is confusion on this.
One definition from reading the SSA brochures is,
MAGI = AGI + tax-exempt interest
https://www.ssa.gov/benefits/medicare/medicare-premiums.html
But another is,
MAGI = AGI + untaxed Social Security payment + tax-exempt …
