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It's not just the past month. My impression is that this has been going on for the better part of a year. I may have even commented on this before - it seems that people here look primarily at brokered CDs perhaps because they are already using …
The effect on duration is also different (higher coupon = shorter duration).
We can try this another way, using the Socratic method.
1. Suppose you buy a bond at $102 with a 5% coupon. Do you have enough information to calculate current yield?…
The effect on duration is also different (higher coupon = shorter duration).
We can try this another way, using the Socratic method.
1. Suppose you buy a bond at $102 with a 5% coupon. Do you have enough information to calculate current yield?…
My tax liability fluctuates significantly from year to year. Every other year I minimize ordinary income (e.g. limit Roth conversions, use tax-free MMFs) so that I can harvest cap gains at 0% tax rate. In the off years, I minimize cap gains and i…
So long as withholding (plus any estimated taxes paid) cover your 2023 taxes, there's no need to do more. The source of your income (e.g. Roth conversion) doesn't matter - just that you paid in enough to cover taxes.
FWIW, I usually make payments…
I have a hard time paying a computer even 0.3% for advice.
Computer-only service at Vanguard costs 0.15%. All these programs and options do get rather confusing. At 0.30% a real human being at Vanguard will help you with some planning issues lik…
There are periods when actively managed funds beat "the market" (aka S&P 500 in this thread). For example, in the 11 years from 1999 through 2009 S&P 500 index funds beat actively managed LC blend funds only once.
Given a period when sto…
I couldn't find reinvested SP500 TR for that period
NYU/Stern spreadsheet:
https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html
https://www.stern.nyu.edu/~adamodar/pc/datasets/histretSP.xls
From the spreadsheet (it uses S&…
Market has good times and bad times.
Indeed. Another venerable balanced fund, PGEOX, outperformed FPURX for 8.5 years starting 12/31/64, before falling behind in the last 1.5 years of that 10 year span.
Funds are not static, they evolve and ada…
\\\FPURX from Jan '73 to summer '82, Ray Gun era, way more than doubles. Granted the end period was a time of 15% inflation
\\\ Inflation in 1974 (the era of Watergate and Whip Inflation Now) was about the same as inflation in 1980 - a shade over 1…
FPURX from Jan '73 to summer '82, Ray Gun era, way more than doubles. Granted the end period was a time of 15% inflation
Inflation in 1974 (the era of Watergate and Whip Inflation Now) was about the same as inflation in 1980 - a shade over 12%. T…
Or ... we can see now (sort of). Using the conventional 30 year horizon and the usual 4%/year (inflation adjusted) assumed spend down amount, a 20 year cash cushion would result in 80% in cash, 20% invested. Setting aside 5 years of cash would r…
But if you look at how long it has taken the SP500 to get back to a previous high permanently, it is 13 years in recent memory, and it took 25 years after September 1929.
According to Mark Hulbert,
On a dividend- and inflation-adjusted basis, the b…
It sounds like the original question concerned paid advisory services, but the responses and OP followup seem to be adding sales reps ("local FA") to the mix.
From Schwab:
When we recommend that you buy, sell, or hold securities; pursue a particula…
If one thinks like an economist, then one makes the absurdly simplifying assumption that people act rationally. Add in the assumption (belief?) that stocks are more risky than bonds, and one must conclude that over a long enough time (whatever tha…
they [TRP] do not treat it [PRWCX] as an allocation fund, notwithstanding how M* classifies it and how I view it.
Notwithstanding how Lipper similarly classifies PRWCX as a mixed asset, target allocation growth fund (like TRSGX), TRP includes PRWC…
A company with a good reputation can rally public support when dealing with regulators. That's a major reason why monopolies advertise.
Just last month, Boeing asked the FAA to waive a safety regulation through May 2026 so that it could deliver MA…
It's not the number of planes directly affected. It's Boeing's reputation that is at risk, and with that, future orders.
Boeing's goodwill and intangible assets (don't have a breakdown) have been in a steady albeit slow decline since June 2019,…
I responded to a comment about finding allocation funds that performed at least as well as JHQAX with lower volatility.
One can start with equity and attempt to reduce volatility in various ways. One can use options, as JHQAX does. One can add…
Not all investors will hold to maturity; not all notes and bonds mature at the same time within that year; and then there are the potential defaults (corporates of course). The portfolio would need to continue buying additional corporate notes/bond…
With all the releases and submodels, it's hard to keep up with this plane. Almost as bad as American Funds's share classes: A, C, F1, F2, F3, T, 529-A, 529-C, 529-F1, 529-F2, 529-F3, 529-T, ABLE-1, ABLE-2, R1, R2, R3, R3E, R4, R5, R5E, R6. And t…
So T-bills are in special category different from regular stock and fund sales.
T-bills are in a special category different from regular and muni bond sales. Bonds have their own rules dealing with appreciation. Unless bond appreciation is de m…
The tax deferral of T-bills depends not only on the fact that interest isn't paid until maturity but also that they mature in not more than 12 months.
People are generally aware that if they buy zero coupon bonds, interest is imputed and taxes owed…
I guess the question is why?
The usual reasons to buy a bond fund instead of an individual bond are: issuer diversification, individual security credit risk, maturity/duration diversification, and liquidity. With Treasury funds, you don't get …
Thanks Charles. I'd be glad to chat with you about some thoughts, though I just got down this rabbit hole responding to a comment that using raw data might not be circumventing a screener. Your post now addresses that in crystal clear terms:
We a…
MFO's MultiSearch is a great tool with an extremely extensive database underlying it, including a lot of MFO-defined metrics. In no way was I trying to disparage it.
That said, I'm more interested in the underlying data than in the tool. You l…
One can download the entire MFO dataset, or as you seem to suggest, download a view that includes only a subset of columns (AUM and a whole lot of other, but not all, fields). And one can program a spreadsheet to sort and search based on various c…
Most fund families allow an investor to open up a new account in a closed fund if they do it by moving shares rather than funding it with dollars. Here, that new account is in a Roth, but it could have been, e.g. a T-IRA funded with 401(k) rollove…
MFO's Basic Screener (aka QuickSearch) is still free!Yes it is, and it is a fine engine with several post-analysis criteria available (Great Owl, MFO risk,etc.). But just as with M*'s "new and degraded" premium investor screener,only post-analysis …
As I wrote above, even taking state income taxes into account, T-bills purchased a year ago didn't beat RPHYX, let alone RPHIX, after taxes. Though the numbers do work out differently if you're in the 32% or higher federal bracket.
There is anothe…
I'm guessing many folks left RPHYX (I am also currently a shareholder) because one could do better in treasuries over the past year or so.
Ah, there was a lot of talk about that, but it didn't happen. I believe RPHYX outperformed treasuries - agai…
I was trying to illustrate what M*'s basic fund screener couldn't find because it wasn't being maintained and so didn't recognize new (often replacement) categories. As a fund screener, it wouldn't have found any ETFs even if M* had continued to ma…
- @msf said, ”For example, it lists "market neutral". That hasn't been around since April 2021”
I tried to dig up a list of market neutral equity funds (across the internet) the other day to look over. Darned hard to find any. Maybe they’ve gone o…
ML has lots screeners for customers (of course) but easy enough for BoA clients
Same problem - try finding VTMSX with a screener. Merrill Edge doesn't carry it, so it doesn't show up (Lipper category - small cap core, verified on MFO).
This still works but not enough criteria(https://screen.morningstar.com/fundselectoraol.html)
Thanks!
Worth noting is that M* hasn't maintained its basic screener (its "official" one as well as this one) for years. This can be seen in its selecti…
A couple of somewhat obvious questions come to mind:
- What defines a "plan" (for the 15 year rule requirement)? "It is unclear whether this 15-year period restarts when there is a beneficiary change", according to one site. Another suggests that…
Why use M* screener at all when Fidelity is a robust one, includes ETFs, and free?
Because Fidelity's excludes funds that Fidelity doesn't carry.
For example, in the global small/mid M* category, the Fidelity screener returns 74 OEFs (including clo…
The Sept 2023 portfolio has 35.9% in fixed income and cash. That breaks down into:
2.6% a STRIPS maturing in 2036 (12 year duration),
1.0% a STRIPS maturing in 2041 (17 year duration),
1.1% a STRIPS maturing in 2049 (25 year duration),
2.8% h…
I also tend to hold funds for quite some time, because funds have their own cycles and often when one fund underperforms another for some time, the pattern subsequently reverses.
Looking at the calendar year percentile rankings, one could say that …
