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.
§2201 of CARES reads in part:
“(c) Limitation based on adjusted gross income.—The amount of the credit allowed by subsection (a) (determined without regard to this subsection and subsection (e)) shall be reduced (but not below zero) by 5 percent of …
You said that specific funds (not ALL) were not managed, period. And yet they are managed, but you knew that.
More from the WSJ: "Vanguard's bond index funds will continue tilting toward corporate bonds instead of Treasurys, to take advantage of…
" Lots of people have written to me to ask about all the “pork” that Democrats demanded in this bill ..."
Further down, her writing reveals that "pork" is literally in the bill: "There was money for the ... Agriculture Department to grade beef and …
DODIX, FTBFX, BOND are managed bond funds while AGG,BND and VBTLX follow the US Total bond index and why they are very close long term.
Usually, but not always. Index funds, especially bond index funds, are also managed, though perhaps not in th…
Certainly that's possible.
Suppose in 2019 someone had an adjusted gross income (AGI) of $99K, including a $24K RMD. And withholdings/estimates were just enough to cover taxes owed. At $99K AGI the individual would receive no advance credit.…
Probably not. This Congressional Research Service paper says you won't have to pay back the excess:If, when taxpayers file their 2020 income tax returns in 2021, they find that the advanced credit is greater than the actual credit, they would not …
It's a refundable credit, meaning that you get the money even if you don't owe any tax against which to apply the credit.
Here's Grassley's FAQ on the bill:
https://www.finance.senate.gov/chairmans-news/cares-act-recovery-check-faq
Even individual…
Upon rereading the text for the umpteenth time, I have come around to believing that one might get an additional refund if one's 2020 AGI implies a bigger credit than one's 2019 (or 2018) AGI.
The text seems to read that the credit is given on t…
Four Republican senators wrongly stated that the bill effectively encouraged people to quit their jobs. If the people charged with voting on the bill misrepresent it, I wouldn't put too much trust in any of rushed quotes or reports.
Senators Tim …
I guess I shouldn't use so much hypertext (embedded links). They can be hard to spot in the text. Here's the link to the fund's NAVs:
https://www.schwabfunds.com/public/csim/home/products/mutual_funds/current_nav.html?symbol=SWKXX
msf, could Vanguard prop up or support (I am not certain what this mean) VMSXX so that it does not deviate by more than a cent from $1.00, thus not have the need to re-price its shares to something other than $1.00 (breaking the buck), resulting in …
@Sven - Just that the muni bond market is in chaos. Keeping in mind that average maturities of MMFs tend to run in the 60 day range, we have this from Bloomberg (via Yahoo):
Take a note issued by New York’s Metropolitan Transportation Authority th…
Different people have different expectations and risk can mean different things to them.
There's a difference between expectations and certainties. Stocks had a dismal decade in the 2000s. "Investors would have been better off investing in pret…
In this crash, it [RPHYX] has underperformed both vanilla bond funds like MWTRX and Vanguard's bond index fund, VBMFX ...
It was supposed to offer minimal downside. As it turns out, in this stress situation, it has offered more downside than a tot…
It was only seven years since I made this post about STADX specifically and "enhanced cash" funds generally. How soon they forget :-)
https://mutualfundobserver.com/discuss/discussion/comment/21712/#Comment_21712
Until the GFC when most of these f…
There are a lot of different situations that are getting mixed together here.
@MikeM raises the question of employer plan rollovers in kind. Often employer plans require you to liquidate your holdings and transfer cash. If they make an exceptio…
Few years back I recall someone bringing a bill to congress which would make it illegal for members of Congress to trade on insider information. The bill was soundly defeated.
STOCK (Stop Trading on Congressional Knowledge) became law in 2012. It w…
Glad to see @David_Snowball start this thread. I was thinking about starting a thread that was a bit broader - what's happening locally - that would include things like this.
I received email from one local restaurant asking people to buy gift ca…
Mark - This article https://www.nytimes.com/2020/03/20/us/politics/kelly-loeffler-richard-burr-insider-trading.html?searchResultPosition=1 refers to Sen. Feinstein's office stating that her investments are in a blind trust. (There's a link.) Not s…
I think people tend to conflate libertarians and Austrians with a lot of other people and ideas on the right.
But hey. I know "conservatives" that think I'm a downright "communist" because I voted for some Democrats.
Politics are closer to an M* s…
Finally, the corporation's first duty wasn't always to shareholders. In the original history of corporate charters, a corporation had to be shown to be beneficial to society to exist. This shareholders' first and screw every other stakeholder--emp…
https://www.cnbc.com/2020/03/20/the-federal-reserve-is-expanding-its-asset-purchases-to-include-municipal-bonds.html
Good find. Here's the Fed's PR piece and the actual term sheet.
https://www.federalreserve.gov/newsevents/pressreleases/monetary2…
Treasury Secretary Steven Mnuchin said on Friday that Tax Day would be moved to July 15, giving Americans an additional three months to file their income tax returns.
https://www.nytimes.com/2020/03/20/world/coronavirus-news.html
Mr. Mnuchin said th…
What's the point of the obfuscation if the next document filed with the SEC (the reorg proxy) reveals all? (Don't even try to answer that.)
LREOX is the Predecessor Portfolio. It's a series of the Lazard Funds. The predecessor fund to the Prede…
That's a good question. These days I haven't been paying too much attention to muni MMFs because they're paying less than online bank accounts (after tax). So it doesn't make much sense to take on their additional risk. (Aside from consideratio…
In another thread, I wrote that according to IRS guidelines, taxpayers are allowed to defer their first quarter estimates until July 15th, though their second quarter estimates are still due a month earlier, on June 15th.
As to what I will be doing…
CNBC article, Monday:
"In the days ahead, Jones expects the Fed to institute some type of facility to address commercial paper."
NYTimes article Wednesday (link comes from Mark's MMF article):
"Taking a page from its 2008 financial crisis playboo…
Here's the Fed PR release:
https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20200318a1.pdf
I'm surely in the minority here, but my reaction is: how dare they!
The federal government bailed out MMFs a decade ago and swore it w…
The IRS finally issued its guidance as Notice 2020-17.
https://www.irs.gov/pub/irs-drop/n-20-17.pdf
Payments may be delayed until July 15th, not 90 days as Mnuchin stated. Close enough for government work, I suppose.
Taxpayers are also allowed t…
"You get so used to CNN and the others exaggerating stories to attract viewers that by the time something serious like this comes along you’ve become a bit jaded and dismissive. But this is the real deal folks."
There's a fine weekly program on NPR…
In the past, ARTKX is a fund I would have looked at. But given its declining relative performance over the years (going from 5* over the past 10 years to 4* over the past five, to 3* over the past three), I might have expected it to have reopened …
"Ordinarily, individual income taxpayers must submit their 2019 tax returns by April 15. This delay would push the due date to July 15."
Are you sure? The article says that taxpayers can delay payments up to 90 days, but it doesn't seem to say th…
By definition, prime MMFs are not exclusively invested in federal government securities, let alone treasuries. This is why the SEC instituted regulations on prime MMFs that require them to impose redemption fees and/or restrict redemptions when th…
And then there's all the lights and heat not being used in the public schools, the parochial schools, the churches, (all of which have, in the past, been immune to recessions and are now closed).
Plus just the lights in restaurants and stores…
The US does have more ICU beds per capita than other countries as the graphic shows. A Johns Hopkins page provides similar data.
That's certainly one measure of preparedness. But it's just one of many and IMHO underscores how the US healthcare…
All gone. Donated: 2/3 to a local church, 1/3 to Tennessee attorney general's office.
https://www.boston.com/news/national-news-2/2020/03/15/matt-colvin-donates-hand-sanitizer
The originally cited column reads in part:
If you’re a young investor, and even if you’re anxious about the effects of the coronavirus pandemic, most of your 401(k) should be invested in stocks, with a smaller share in bond funds
But what if you'r…
Dollar, Equity Futures Drop as Fed Slashes Rates (Bloomberg via Yahoo)
https://finance.yahoo.com/news/yen-extends-gains-fed-slashes-210909833.html
Futures on the S&P 500 fell 3.9%. The gauge advanced 9.3% on Friday.
Also because, as @PRESSmUP pu…
But wait, there's more. Remember how WHO offered to send test kits to the US and we didn’t take them? Then Jared Kushner was put in charge of the response?
Oscar
Two guesses who’s brother owns this company...
About OscarNot to get too far off t…
In the way back days I lived in Taiwan for 2 years. There would be, as there are now; times when one wouldn't have a full understanding or full thought or reply to a question or circumstance.
One phrase I used, at times, in Taiwan was:
我能说什…
