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.
Maybe. We're seeing a lot of development in the medical industry where "new" does not equate with "better". (That's not to say that "new" can't command a higher price and better profit margins, because "new" sells, even if it isn't better.) Pharm…
@catch22 - Thanks for the search link. A long but interesting page I found is at Congressional Quarterly (CQ) Almanac:
http://library.cqpress.com/cqalmanac/document.php?id=cqal94-1102970
It starts by saying that the deferral on voting until afte…
That's certainly what they teach in civics classes, or whatever passes for them these days. 2/3 approval by Senate. Unfortunately, that's not the way the real world works. (To be honest, I'm still looking through this, I can't believe how convolu…
Now I wonder, or am curious, about the actual mechanics of the poll. What question(s) did they ask? Who did they survey? etc. etc.. I see the question on the page. Is that it?
Bingo. As you observed the(?) question asks: "given what you know abo…
These funds have their plusses and minuses.
On the plus side, they make donating assets much easier than donating directly to your favorite charity (especially if the charity is small and not set up to handle donations other than cash).
The mai…
I agree with BobC on the broad points, but have nits to pick with the details.
Broad points:
1. Period-by-period "consistency", a la Bill Miller/Legg Mason Value, doesn't matter. What matters is long term performance.
2. Many (dare I say most, …
I also have never heard of a fish or fishing related fund so I'm hoping that you'll clue me in.
I imagine that one would look for leisure funds. Here's an apparently old radio transcript on the subject. Old, because two of the four funds mentio…
This guy sounds like someone who writes about bonds, not funds. He's separated out the capital (price) appreciation (from $9.68 to $9.93) from the interest return. Look at the phrasing: it's "yielding 3.86% and sitting on a nice year-to-date [p…
"Can't we all just get along?"
Another chart of interest rates since the Constitution was adopted, highlighting max/min points:
http://finance.yahoo.com/blogs/talking-numbers/222-years-interest-history-one-chart-173358843.html
It seems people are …
See Yahoo's historical prices for this fund:
http://finance.yahoo.com/q/hp?s=FCFAX+Historical+Prices
The drop in price, between May 28th ($10.17) and May 29th ($10.14) can be attributed largely to the 3.73 cent dividend paid on May 29th. The much…
@Old_Joe @Junkster - Aw, shucks.
@Dex - regarding the IRR (rate of return). From one perspective (especially on the insurer's side), the calculation is a lot more complicated, because the payout is not for a fixed term of years, but a life expect…
I don't think you're missing anything - you're recognizing that one value of a guaranteed income stream in the future (whether that be a deferred annuity, deferred income annuity aka longevity insurance, or Social Security) is greater flexibility in…
On the investing front, if you think it will be more than 25 years before Guam tips over, you can pick up about 3.5%+ YTW bonds (callable in 2022, hence yield to worst), tax free in all states. Should handedly beat inflation (after tax), and if no…
About all I know about Guam is that it is the westernmost point of the US - Point Udall, named after Morris Udall, not to be confused with the easternmost point of the US - Point Udall, named after his brother Stewart.
If the Congressman is worried…
CVS acquired the pharamacy benefits manager (PBM) Caremark in 2007.
Express Scripts acquired Medco (formerly owned by Merck), both PBMs in 2012.
But Express Scripts Holding (ESRX) and CVS Health Corporation (CVS) are two separate, publicly traded …
It may be even easier to explain (or, my mind may just work in strange ways).
Say you purchase a bond with the intent of holding it to maturity. (This is the only assumption I will make about you - it doesn't matter whether you are a long term ho…
The New England (née Boston) Patriots already won the Superbowl, and the S&P 500 (total return) lost 3% in January.
I think you're confusing cause and effect. After those "predictors" spoke, a triple crown winner was all but a foregone conclu…
On the plus side, he now qualifies for The Giving Pledge (billionaires who pledge to donate at least half their wealth to charity during their lifetime and/or at death). He just needs to pledge now.
There seem to be three different issues getting smooshed together. From the specific to the broader, encompassing issues, they are:
1. Buybacks vs. dividends - the original article spends most of its space talking about the problems with buyback…
Interesting point about pension plans, but I'm afraid that inflating their way out of underfunding may not help retirees in any real sense.
Suppose a pension plan is 50% funded, and because of inflation, everything (including the pension portfolio)…
Right now, real interest rates are negative. Unless that changes, an uptick in inflation with a commensurate increase in nominal rates (i.e. keeping the real interest rate fixed) is a losing proposition for savers and SS recipients (unless all the…
Addendum - you're getting more heavily weighted mid cap stocks because of equal weighting, but you're not (in theory) getting inclusion of any more midcap stocks than are already in the S&P 500. Same for small caps, with the observation that M*…
If one is interested in one style (growth) or another (value), then perhaps one of these makes sense. But in combination, the argument is much less compelling.
That's because, as S&P notes in its methodology document, its growth and value ind…
FWIW, the Quaker A shares (QEAAX) are available NTF from Schwab, and the institutional shares (QEAIX) appear to be available at a normal $2500 min in Fidelity IRA accounts (only), albeit with transaction fees.
Sorry I worded it poorly. Gandalf was talking about using IRA money before RMDs kick in (i.e. before 70.5). So while I was talking about a Roth conversion, the RMD rules wouldn't apply since by assumption this is before RMDs.
I was suggesting s…
However, there is another consideration with spending down some of the nest egg, which in my case is predominantly before tax IRA money. To this end, spending down some of the IRA before 70.5 will also soften RMDs. All of this is complex and every…
>> me to defer taking my SS to 70, she claims half of mine at her FRA when she turns 66, and then she can move to her own at 70 if greater than her spousal.
yes, he did not say apply+delay (SS terms for file and suspend), but I guess I am a l…
Very close, but not exactly the same. Gandalf has no file-and-suspend. He draws at 70, before W's FRA, and then W files for spousal benefits (only) at 66.
You have filed and suspended (at age 68) so that W can file for spousal benefits (only) a…
Great discussion, which prompted two questions from my side.
1. Is there an SS calculator (preferably on the SS site) which tells me how much social security income I can expect at age 66 or 70, etc., if I stop working today? The default calculato…
@BobC - you make a very important point about stable cash flows, in (SS, other annuities) and out (mortgage). They have a disproportionate impact on planning.
Compare a person with no mortgage and enough assets for a 4% withdrawal rate with anoth…
I agree with Desota - I would be quite surprised if you could get an R-class share outside of an employer-sponsored retirement plan.
When American Funds came out with class F shares (now called F-1), they were available not only through advisors,…
Actually, the paper seems to say something a bit different.
All else being equal (i.e. same fund family, similar "size, value, and momentum scores"), the researchers found no meaningful difference in pre-tax performance between tax-managed and non…
FWIW, my take on the 9th Circuit ruling, the SC ruling (which only had to do with statutes of limitations, i.e. time limits on claims), and on people's wishful thinking.
The 9th circuit ruled that revenue sharing is generally okay (though it is fac…
You have substantially increased your payday before taxes
Some adjustments to the calculations above:
- Evensky is talking about real (inflation adjusted) returns after taxes as well as after expenses
- The typical (dollar-weighted average) cost o…
The Bartlett paper creates the impression that prior to Rush Limbaugh there were no conservative-oriented radio commentators. That isn't completely accurate- you younger folks would have no remembrance of such as Gabriel Heatter or Paul Harvey, who …
"The planned Bay Bridge section will be a huge success and will be a lasting example of American engineering expertise for a century or more."
[Timeline of problems/costs in 2015, as opposed to those found and paid for in 2013]
Unfortunately, subs…
@icyone Regarding long term care, I seem to remember that a while back msf (I think) said that LTC is part of the Obamacare legislation. It's just that it has not yet been implemented. If I don't have it right, please let me know.
It was original…
There's a special case, which in turn has a special, special case, not mentioned in the FAQ above:
If you have an inherited IRA, you must take RMDs from that IRA (the RMD calculation is also a little different, but that's not my point here). The …
