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.
what's interesting is to not use longest time frame but to set the start date to 2007, so you're going into retirement at a very bad time. i did it w PRWCX. started with 1 mil and at the end of 2019 you had 780k with a max drawdown of 55%, at the …
https://www.barrons.com/articles/ge-stock-drops-to-another-new-low-51589490158
I know a lot of people don't have the subscription to read so I added some lines from the article below
The article isn't paywalled, at least for now.
Most of the column is clear and informative, but Dr. Wen starts out by collapsing steps (just as most everyone else has). "Have we formally retreated from a goal of containing covid-19 to one of harm reduction?"
She goes on to explain that between…
I've got another deep value fund that I've been wataching as well (TEQIX).
A Star From the Previous Bear Market Is Struggling in This One, Kinnel (Morningstar), May 5
https://www.morningstar.com/articles/982332/a-star-from-the-previous-bear-market-…
The fund is closing, not shutting down. Normally it's not surprising to see a fine performing small cap fund close. However, a fund with just $13M AUM (and a corresponding ER a bit south of 3%) would be more likely to shut down than to close.
P…
Full immunity is just a hope. Which, IMHO calls the into question the efficacy of vaccines once they are available. Longer trials will be needed to test that.
'No Evidence' Yet That Recovered COVID-19 Patients Are Immune, WHO Says, NPR, April 2…
The rule for taxing T-IRA distributions shouldn't sound too convoluted. It just requires you to do things proportionately.
Say that your total T-IRA value at the end of 2019 was $100K ($5K post-tax, $95K pre-tax contributions and earnings). The…
If I understand you correctly, there were a couple of years in which you had compensation allowing you to contribute to an IRA. But on your tax form, after taking deductions, exemptions, etc., you had little or no taxable income left against which…
If I invest in HY it's only for trade. HY is a hybrid product that usually doesn't justify itself.
We each have our own set of preferences.
Vanguard Research put out a 16 page report last June:
Junk or jewel? Assessing the role of high-yield b…
One need not go further than his first bullet item, confirmation bias, to see an example of his confirmation bias.
A reluctance towards establishing a common ground is already widespread in America. According to a 2019 survey, 70% of Democrats belie…
Kinda tough placing a standard HY fund against FAGIX for a compare. Over the period of FAGIX existence, the fund usually has an equity exposure of 15-20%. A unique HY fund.
Unusual but not unique. WHGHX "has a neutral allocation of 80% of its tota…
hopefully, vf will weigh in more exactly on what he's doing.
I thought he did by specifically calling out the name of his trades:
I can now proudly said it's called the Vertical Put Credit Spread. I feel so smart :-)
The difference in ERs between institutional class shares and A shares at PIMCO is on the order of 0.3% - 0.4%. So just subtract that from the performance figures. Admittedly, these are larger difference than the 0.25% 12b-1 fee difference one fi…
There are various strategies for asset allocation that seem to work out about the same. Consequently, I honestly think the choice comes down more to what feels right than to a real difference in outcome or even overall risk.
To the extent that I …
In 2015, 10 year treasuries yielded 2.14%, in 2016 it was 1.84%, then 2.33% (2017), 2.91% (2018), 2.14% (2019), and 1.17% (annualized) so far this year. So just looking at yield, one might have hoped for a tad north of 2%/year.
https://www.macrotr…
I would rather not have to set up another account, especially a retirement account to buy Marcus CDs. While FDIC guarantees work ( I lost two CDS during the 1980s housing crisis) it does take some time to get your money back so there is some opport…
But, the govt. does not give something to you for nothing. My RMD factor will be higher on my 2021 distribution than my 2020 because as you age the factor increases.Hope springs eternal. Last fall, the IRS proposed new life expectancy figures tha…
I think it is difficult to be invested in a bond fund that is supposed to be "ballast" to your equities and then see it drop 13%
A "Core " Bond fund IMHO should diversify and provide some income but not reach for yield, etc. With treasury yields …
M* analysis dated March 30, 2020: "Despite its burgeoning asset base of over $19 billion as of December 2019, the portfolio’s characteristics have not strayed. The fund closed to new investors at $9 billion in assets in May 2010, so it’s unlikely to…
To be rated above average, a fund must be in the top 32.5% of its category (but not in the top 10%).
PRIDX came close to above average performance, but didn't make it over 3 years (38th percentile) or 10 years (33rd percentile). Shift that 10 …
IMHO it's not that people took on more risk than they thought but rather that people do not appreciate what risk is. Stuff happens. Risk generally is rewarded, but the ride can be jarring.
The average 10 year returns for multisector and for inte…
Just another way of saying that it was goosing returns by investing too much ("many of the securities the Fund holds") in high risk sectors of the market that no one would want when the market turned south.
Barron's, March 23: The $2.3 billion mort…
The name is new, the daily management is new, the global allocation objective is new. Only the family (AMG) is unchanged. I would treat it as any other new fund - check into the managers, the management company (now GW&K, was Chicago Equity …
This looks like a pretty standard core plus bond fund. The statutory prospectus says that "The fund may invest in debt securities of any maturity or duration."
My impression of Capital Research and Management (American Funds) is that it's gen…
It's got at least 21 different tickers (share classes). Class F-1 is MIAWX. ER is 0.90%
Here's the prospectus with all the tickers.
Haven't looked too closely yet. At least some of the managers are picked from other American Funds, so that…
The share classes of USAA (now Victory) funds resemble those of American Century funds:Noload retail: USAA "Fund Share" (e.g. USTEX) and American Century "Investor" (e.g. TWCUX).
Class A adds load, 12b-1 fee; often load waived w/ fee-based advisor, …
It was a merger of Charter and Time Warner Cable. Before the merger, they were ranked 2nd worst and worst respectively. I don't remember the source of that ranking.
https://ir.charter.com/news-releases/news-release-details/charter-communication…
Schwab sells Victory Class A funds NTF to its retail investors. It doesn't seem likely that it would turn around and charge the load only to its newly acquired USAA clients.
Schwab bought USAA management for its client base, both 1.5 million curr…
USAA recently sold its mutual funds to Victory and its management company (including its brokerage and managed accounts) to Schwab.
The current (August 1, 2019) prospectus starts by saying that "The Adviser Shares listed in this prospectus are a…
I gotta tell you, for the cheapest go-to, "shareholder first" fund company out there, Vanguard is sure the most bureaucratic fund company out there. Trying to do a simple XFER by mail is a complete nightmare.
From Vanguard email I received: In a fe…
@Mark - I appreciate the clarification.
As you commented, this is an old issue. While these incidents raise questions of competency (compliance) and of ethics, I believe they're generally small and limited to new funds.
The main impact I can …
SEC alleges willful violation and other funds were cited as well (Pimco etc.)
Outside of PIMCO, do you know of other bond funds inflating their early performance this way?
https://www.sec.gov/news/pressrelease/2016-252.html
The "willful" part wasn…
It's so tempting to buy now IOFIX,VCFAX and especially EIXIX which I think is "safer" but I don't dare. These broken MBS might have a problem
[and later ...]
Corp bonds rated invested grade were down 13% from the top. Black swan is unknown ... Pi…
And now people are getting follow-up letters also SIGNED by Tweety Amin explaining the check and how he 'proudly' signed the bipartisan legislation (despite having no Dems at the signing ceremony).
Our follow-up letter is coming today, according to…
If you've got $100K in cash, Merrill provides access to some institutional funds. Even these are pretty anemic, struggling to get up to 1/4%, unless you're willing to try one of the floating NAV money market funds created specifically for institu…
T Rowe use to have some tools I used, such as portfolio analysis with a Stock Overlap feature. Do they still have that?
I have tried logging on but they do not recognize me nor can I find a way to create a new account. I have some T Rowe funds but t…
I own PRIDX. ... It fell hard with coronavirus. But it's coming back, down -13% now, ytd. Down to 3 stars, but still with a silver decoration. ... Top 15% among peers, ytd. Not a great showing compared to peers LAST year, but still very good indeed.…
I believe that, unlike many cash back cards, Fido credit card now sends the tax form for these 2%, so it is not 2% cash back (no taxes, just cash return), but 2% minus taxes.This has been settled law for decades now. Here's a CNBC page discussing …
Also important to note is that this fact checking is of opinion pieces ("pundits"), not of the straight news reporting. Still, one would hope that even opinion pieces would all present the same sum for 2+2.
On the flip side (viewers), here's a st…
