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.
When you read ERs, do you mentally add back waived fees, figuring that the shareholders pay the full freight one way or another? Or does the management company take the hit by reducing its fees, taking a lower profit?
The analogy is not perfect b…
(I should have read more carefully.) The link that Lewis provided is for a 2011 proxy. Here's the current proxy:
https://www.sec.gov/Archives/edgar/data/0001521353/000089418922001123/mairspowertpmproxy.htm
The 2011 restructuring into a Delaware…
Corporations tend to incorporate in Delaware primarily, as Lewis wrote, because of its pro-business regulations. Another rationale given is that Delaware has the most developed corporate law. Though this is somewhat circular - companies incorpora…
This last miscue by TRP was relatively minor compared with my once-in-a-century travails in transferring an IRA. What got me was the way the conversation went. It wasn't so much that I had to push the rep to actually dig into the records. Unfo…
Given that M* provides a figure for FGMNX's 2021 performance and Yahoo reports N/A, perhaps it is how Yahoo transcribes numbers and not M*'s data that is the problem? Or perhaps Yahoo calculates its own figures (e.g. adjusted closing prices) from …
Beating a dead horse, and yet it continues to kick.
I used to have an individual 401(k) with TRP, but closed it three years ago. Really, really closed it - informed TRP that I was terminating the plan, filed a final 5500 with the IRS.
Got a mail…
We've seen something similar before. Several years ago two funds in another fund family mispricing securities. When the prices were corrected, the funds suffered one day drops of 44.0% and 69.4%.
That mispricing was not done by tweaking compu…
When a fund house (VG) can tumble from #3 to #43 in a year there’s something wrong with the gage being used.
When the cause of that decline is laid (in part) at the foot of VPMAX, there's more wrong than just the gauge.
Vanguard's drop occurred, i…
It's impossible to keep track of all these series without a scorecard, and even then, I'm not sure.
Until 2013, T. Rowe Price offered an aggressive, but stable (unchanged glidepath) product, unlike its leading competitors, Vanguard and Fidelity.…
I hadn't looked at the performance tabs on Yahoo. That's a really nice feature.
Now, if Yahoo would only report accurately. FGMNX had three losing calendar years: the two you mentioned and also 2021. Yahoo show 2021's return as N/A, though it…
The $5 charge is for incremental (additional) purchases via automatic investment. An initial investment in a TF fund costs either $49.95 (for most TF funds) or $75 (for Schwab, Vanguard, and D&C funds).
But there's a way around that, by pu…
You can also use M*'s new "Interactive Charts". You'll find them on the home (quote) page for each fund. You need to click on the "Show Interactive Chart" button at the upper left of the graph shown.
While I prefer M*'s legacy pages for most pu…
Regrettably, simply creating restrictions doesn't seem sufficient, with all the scofflaws around.
57 members of Congress have violated a law designed to stop insider trading and prevent conflicts-of-interest
That said, I agree that the restriction…
Why not offer a N or S class that would allow D&C funds to be sold ntf at Fido, Schwab and Vanguard. I for one would tolerate a higher expense ratio to increase my access to these funds.
Fidelity already provides access to all seven D&C fund…
Online edition:
https://www.wsj.com/articles/jpmorgan-to-add-ukraine-bonds-to-debt-index-despite-war-threat-11644933115
The contrast between Ukraine’s rising geopolitical risk and JPMorgan’s decision to proceed with the inclusion reflects the burg…
While I agree that the scenario is unlikely, it's still a valid hypothetical question and I don't know the rule that handles this.
That said, I really like the idea of redemption in kind. Normally that's a pain for the retail investor, but here, …
It's hard to think of this as a mutual fund when 50% is in one stock. The other issue I could image is the potential tax liability if the fund starts experiencing redemptions and the manager has to sell appreciated stock. Given that, if one is a Tes…
@msf
I agree with the scenario you sketched out. How is that any different with any of the brokerages such as Vanguard, Schwab, Fidelity, etc?Those brokerages have SIPC insurance to cover uninvested cash. There is no window where the cash is uninsu…
I am surprised that Thornburg hasn't made it available as NTF/no-load at Fido and Schwab.
The TSAMX A shares have only been around for two weeks (per M*). Give it a few more days :-)
Even TSUMX may be a recent addition at Fidelity. M* doesn't yet…
I saw that already. I prefer to trust (no pun intended) legal documents over marketing literature.
In any case, there's a difference between handing money over to a bank and having that money sit in an insured account. If the money is in an …
According to the account disclosure, cash gets FDIC coverage when it is swept into Happy State Bank, which happens on a daily basis:
you authorize and direct GoldStar Trust Company (“GoldStar”) to deposit any uninvested cash held in your IRA/ESA int…
msf & stayCalm : Did you happen to read crypto hack 2016 I posted in OT ?
I've stayed away from OT for quite some time. The Yahoo article says that the exchange (Gemini) was not hacked while the self directed IRA custodian acknowledged that "an…
As with fintechs, there's a window between the time cash goes into the account and it is swept into an insured bank when it is not insured.
For example, here's a long piece from DepositAccounts.com quoting WealthFront:
While funds are at Wealthfron…
The SEC has rules for diversified vs nondiversified funds. BPTRX is nondiversified.
In the 1940 Act, Congress defined a nondiversified fund simply as one that didn't meet the requirements to be called diversified. Just a basic partitioning of the …
an account labeled “Benjamin Choe'' began withdrawing bitcoin, ether and U.S. dollars from user accounts. One user said he lost 13 ETH, 1 BTC and thousands of dollars in a matter of minutes
Crypto may have been the bait, but the theft wasn't crypto-…
Or one can go to the (virtual) library, read, and even download a copy for personal use.
The gist seems to be that on the one hand, regulations have tamped down risk quite a bit. On the other hand, there's still a lot of leverage in the market. …
Something that pops out when one looks at these funds is that they all had management overhauls within the past couple of years. M* lists each fund's average manager tenure as just one year. The former managers of these three funds, Christopher V…
Were you asking Fidelity to transfer cash (ACH) from a mutual fund position at T. Rowe Price, as opposed to transferring money from a TRP cash (brokerage transaction/core) account?
Transferring cash from a mutual fund would trigger a redemption, an…
Also, fiscal years can have any starting and ending date. But if one hitches one's horse to a calendar year, then one is stuck with, well, the calendar year. So the latter half semiannual (calendar) 2021 would thus cover July-Dec 2021.
Like in t…
JHQAX is arguably superior [to CHIEX], but closed to new investors I believe.
JPMorgan expanded capacity by "cloning" the fund. But the clones (JHDAX and JHTAX) operate out of phase with the original, so they're not competing for the same secur…
Thanks for the reminder about PURIX.
"Publicly available information on Fisher's funds and strategies showed mixed performance.
The Purisima Total Return Fund, for example, returned well under half of the S&P 500 Index
in its final 10 years bef…
The source of the image is not TRP. So any problems are independent of TRP.
The link (not even a URL) that appeared in bilvihur's post was: "[url=https://ibb.co/5G8wVJz][img]https://i.ibb.co/4KT3x0D/Capture.jpg[/img][/url]
The URL I extracted f…
Just to be credible, this is what I saw when I logged into my account this morning:
Is this what you were trying to display?
(Click on "quote" to see the source of this post including the raw HTML - I extracted the real URL from what you ente…
I have not been paying attention (again). Somewhere in the mid 2010's, Janus' INTECH funds dropped the INTECH part of the name. There are at least four remaining Janus Henderson funds submanaged by INTECH. Their status is now apparently in lim…
If an investor does a tax-free conversion of one share class of a fund into another share class, e.g. investor class to admiral class, there are no tax consequences.
But if an investor sells one fund and buys another, even if the second fund is a c…
unusually high capital gains ... has ... drawn scrutiny from regulators
debate over whether target-date funds are suitable for taxable accounts
The high Vanguard distributions were the result of a technical change Vanguard made. It lowered the mi…
I bought ENIC using my TRP brokerage account. On Friday, they PAID a very small "interim" dividend. It's still not recorded in my sweep account.
[...]
.....But it's not there....... yet. ORK!
Are you sure that the ADR div has been paid?
Here's …
Going further, Thomas Rowe Price, Jr., after founding the company in 1937, sold all his interest by 1970. So while I'm sure he raised a pretty penny from those sales, he and his heirs may have a greater total return in the 52 years after that than…
