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.
@Hank
The discrepancy seen for LCORX on Morningstar is that they have 3 options under asset allocation on the portfolio page. The classic gives the typical allocation. The economic exposure supposedly reflects derivative effect. There's also a mark…
Updated Liquidation Plans
As we have described in previous updates and FAQs, the Fund has been working diligently with outside experts to analyze the pricing of the Fund’s portfolio at February 18, 2021 and prior periods. That process is ongoing. Si…
@Chinfist
It looks like there are at least two firms filing maybe under the same umbrella complaint. Or at least the complaints look identical to me except for Bronstein dating theirs 2/26/21 & Rosen putting their firms name on it with an indivi…
@Baseball_Fan
Since everything is liquidated & in cash now, it would seem distribution should be straight forward & your figures seem about right unfortunately.
Also unfortunately, they are still recalculating NAV as of February 18 as wel…
@Baseball_Fan
Costs of trading- obvious.
Costs for pursuing a class action suit on behalf of the shareholders- obvious.
Costs for defending said suit- especially in light of potential fraud- to be borne by the same shareholders? not so obvious- iron…
IQDAX Liquidation Update
Talk of pouring salt on a wound:
In reaching a determination as to the timing of initial distributions, the Fund must consider potential expenses it may incur going forward. These expenses include, among others, the costs …
Yeah I get it. Not my shiniest brightest marble in my investing jar of ideas. As I stated in my OP, lesson learned.
With a bitter taste in my mouth, I'll wait to see what happens with the remaining couple of thousand that I had in the fund.
A coupl…
@Baseball_Fan
I want to know what the young man who was running the fund was exactly doing? Was there malfeasance? Or did he really believe the 3rd party model was incorrect and there was a "tweaking" for good reason? He's obviously lawyered up. Who…
From the SEC report above:
According to Applicants, the Fund’s current portfolio includes swap instruments (the “Swaps”) for which Infinity Q calculates fair value using models provided by a third-party pricing vendor.
Applicants state that on Febr…
From the Institutional Investor:
https://institutionalinvestor.com/article/b1qphp8ytrkv20/Months-Before-SEC-Investigation-Infinity-Q-s-CIO-Touted-Strong-Performance
"In September 2019, the Texas Municipal Retirement System allocated $125 million t…
@The Shadow:
Thanks for the link.
From that page:
https://bgandg.com/iqdnx
Correct regarding the previous mention in MFO. My days/months seem to get blurred anymore. I actually sold most all my shares only a week ago. So it was a closer call for…
No matter where one plans to travel, check out Atlas Obscura.
The definitive guide to the world’s hidden wonders
We've used it extensively on several cross country trips as well as in New Zealand.
To be fair, it is an acquired taste. My daught…
PRWCX Semi-Annual Report
David Giroux's reports are typically insightful:
Bullish on GE & utilities (added to both during downturn). Lightened up some in healthcare. Bearish on treasuries (eliminated from fixed income sleeve). Added leveraged …
Any place out of my house!
Finish visiting all the national parks in this country (before they're gone).
Would highly recommend New Zealand. Spent 5 weeks there this past November & early December. Spent time on both islands. The climate & …
FWIW Some suggest China should be separated from emerging market indices for true diversification. And keep China as an entity investment by itself.
Why China should be separated from emerging market indices
From Forbes: Covid-19 Accelerates 3 Disruptive Trends Facing Higher Education
Covid-19 accelerates three critical trends in higher education, each of which predates the pandemic, and each of which demands a new policy approach.
First, higher educati…
Twentieth Century Giftrust- that's a name I hadn't heard of in a while.
The Surprising Success of a Dumb Investment
What are the lessons I take from all this? First and most important, the experience illustrates how much wealth you can build even i…
Okay, let's judge the quality. Note the source. That makes the data either obsolete (since data is supposedly no longer being reported directly to the CDC) or untrustworthy (since HHS won't accurately state the source of its data). Given these figur…
Case fatality rate & mortality rate are often juxtaposed but aren't actually the same.
Finally, a metric we are seeing less often, but still merits attention, is the overall mortality rate. This refers to the portion of the population that dies …
From a NY Times interview with Dr. Fauci
How much faith do you have in people to pivot and change their behaviors?
It’s disconcerting when you see people are not listening. I could show you some of the emails and texts I get — everybody seems to ha…
Schwab seems to have most of the information I need for planning & reporting purposes. I even have my external accounts located there so I can get a sense of aggregation, but they don't allow you to count those accounts in any calculations such …
@MikeM- at least for states such as California & Virginia, the $600 additional benefit, it's the week ending July 25th is the last week, which is filed on the 26th or thereafter. I would think that would be the same for all states but I could be…
@msf- Thanks for your comments. Maybe it's just semantics. Percentiles aren't percentages. A relative value can be significant in itself. The numerical value here is relative & as you point out "It's a fun graphic that's moderately informative, …
In the chart "The Front Line: Visualizing the Occupations with the Highest COVID-19 Risk", they use a numerical scale to measure least to highest risk occupations. Not a percentile. And these are relative numbers not absolutes. They don't assign pre…
@Derf
95th percentile of what? I'm not aware of covid-19 risk being expressed in percentiles.
FWIW, this explains the difference between percentages & percentiles from DifferenceBetween.net
A percentage is a number that is written out of a to…
Some time last century (that sounds weird) from Fund Alarm.
Back when Mutual Fund Magazine was still around (believe it stopped publishing during the dot.com bubble).
Good point.
I would still assume the former. Most medical associations have been against some of the more reckless political policies enacted. While I have seen some pretty stupid posts by individual physicians at different medical forums, I'm not…
That's a good primer on R0.
One (of many failings of our education system) is the notion that science and medicine are "exact".
Rather it's based on the best evidence at the moment, subject to change at any time, the next day, week, year, etc. It…
It assumes they are wearing masks.
From the Texas Medical Association website:
The chart was prepared by theTMA COVID-19 Task Force and the TMA Committee on Infectious Diseases. Please assume that participants in these activities are following curr…
The original NY Times article.
Why wouldn't there be complete transparency? How can that even be something anyone would need to ask? No reason is given by the administration of why the data won't be made public. It's like a toddler closing their ey…
The Forbes article links to a paper (published in 2004) by Campbell & Li titled Alternative Estimates of the Presidential Premium in which they conclude:
We find that the rift between these results and the results of previous studies employing
t…
