Humankind US Stock ETF Large institutions often provide seed money, although that is not the case for some such as Vanguard, but even when the seed money is large asset-wise, that doesn't mean trading volumes of the ETF are high. The seed money could be from an institution--often insurers do this--that never or rarely trades its shares and just sits there in the ETF. Ultimately trading volume and bid-ask spreads matter more than assets under management for those who trade ETFs. Then again, for those who are buy and hold investors, assets under management and trading volumes really don't matter much. There could be some tracking error versus the index I suppose with a small asset base and too few shares of some companies in the index, but quants have become pretty good at optimizing that away via sampling. In other words, anyone looking for a long-term investment probably doesn't have too much to fear in this ETF, especially in a tax sheltered IRA account. In a taxable account there is a risk of a tiny ETF being liquidated and then having to pay capital gains taxes after the liquidation on appreciated shares.
Humankind US Stock ETF I'm quirky-- I would expect a fund to be better
capitalized/positioned at launch.
The ETF launched a few days ago I believe. Unless you're an insurer with seed money for an ETF, initial assets/positions are usually like this. I'm not sure why that requires a "hard pass" in the future if it gains traction.
Humankind US Stock ETF The ETF launched a few days ago I believe. Unless you're an insurer with seed money for an ETF, initial assets/positions are usually like this. I'm not sure why that requires a "hard pass" in the future if it gains traction.
Humankind US Stock ETF Thought it was another gimmick at first, but this one seems legit, especially with a low 0.11% expense ratio. Too often these ESG funds take advantage of good-intentioned investors to gouge them price wise which seems hypocritical to their entire mission. But this one has a reasonable mission, eliminate the worst corporate actors from the portfolio while trying to change or improve the remaining ones through shareholder activism:
https://humankind.co/mission
How We Create Impact
Investors seeking to promote more responsible corporate behavior can wield power in two ways:
a) By investing more money in and providing more capital to companies that create greater positive value for humanity
b) By utilizing the rights associated with stock ownership to promote company policies that positively impact humanity
At Humankind Investments we aim to do both of those things for you. We do the socially responsible research, so you don't have to. Then we invest in the companies that, according to our research, offer the greatest potential returns for humanity and our clients. We also keep track of opportunities to use your corporate voting power to positively influence company policy.
We believe that an investment made through us is an investment made in your and humanity’s future.
IQDAX- If it's opaque, just maybe there's a reason?
PRWCX Annual Report ...Oh, now I see what you meant. :)
At the end of of 2020 cash was at 12%. I’m thinking he’s raised that over the past 1-2 months just looking at the lagging performance.
Anyone having trouble acessing accounts at Schwab ? I wonder how much of these CSR delays are RobinHooders flocking to open new accounts elsewhere and/or people calling to ask basic questions about investing and where-is-my-2020-1099-for-the-GameStop-that-I-traded-last-week. ;)
PRWCX Annual Report Same here - really enjoy reading his report. His stock picking in utility sector way exceeded utility funds and ETFs. My Vanguard utility fund was flat for 2020 even though it provided a healthy yield. Ventured out to floating rate and short term high yield funds this year for higher yields. Also rotated more into value and small value funds earlier this year. Yacktman fund, YACKX, has recovered quickly after March last year and managed to out-performed the value index. The fund now holds 30% oversea stocks.
We also got a new iPads this year since our 7 years old iPad can no longer updated. They are lighter, run faster and with a larger capacity. We will upgrade our 6 years old iMac in fall while the Window 10 PC is use for work.
PRWCX Annual Report Thanks
@rfornoAt the end of of
2020 cash was at 12%. I’m thinking he’s raised that over the past 1-2 months just looking at the lagging performance. However, Lipper still puts it at that modest 12% figure. Reads like an encyclopedia of investing. Perhaps a bit too much horn blowing. One has to be pleased with the amount of information and analysis contained.
And he’s unloaded Wells Fargo! :)
One interesting blurb:
“Our biggest miss in 2019 was Apple and it was once again in 2020, as the stock rose 82% during the year ... The outperformance of Apple for the last two years has been a big detractor from our relative performance and a big disappointment for me personally. We continue to spend considerable time on Apple and have had multiple team members look at the stock, and yet we all come to the same conclusion: There is no reason a company with a long-term 6% EPS growth rate should trade for 30x earnings with two of its fastest-growing and most profitable revenue streams facing increasing regulatory scrutiny.”Geez - Have a new Mac Air on order. Love Apple’s ecosystem, product support, etc. More important to me than the hardware. FWIW
PRWCX Annual Report
IRS tax program updates info
U.S. economy may have its best chance in years to break from era of subpar growth
Did anybody receive 1099 form for IOFIX? Hey all... a bit off topic (sort of)... but I still own PONAX and IOFIX came across my radar and have read a lot of positive comments on this board about it. It's performing just fine or better than fine in 2021... but did anyone here have palpitations in 2020 when the 1 year return was -9.59%? with the ER at 1.68%? I'm not being snarky... just trying to understand the logic of why you believe in it LT. Reviewed FD's chart showing the fund's momentum and it was logical. #IStrugglewithBonds and understanding the ballast / importance if you ignore 2008-which, hard to believe, was 13 years ago.
U.S. economy may have its best chance in years to break from era of subpar growth The pent up demand from the consumer side is understandable. The time frame of running to prior to March 2020 is within sight with multiple COVID vaccines being available - 4 total. Perhaps this will happens later this year. Also inflation will increase and possible higher rates. So what is your asset allocation should be?
Small Caps FYI, here are some optimistic market observations from an article in yesterday's WSJ. Here are some excerpts:
"Shares of small companies and sectors of the market like financials and energy notched strong gains, while the broader stock market's moves were more muted. [...]
The jump in bond yields comes as the economy seems to be improving, stoking enthusiasm about a speedy recovery. New data on Friday showed that business activity in the U.S. private sector held up, boosted by accelerating service activity and manufacturing output. That followed a report Wednesday that showed consumers used stimulus checks to boost retail spending in January to the largest increase in seven months. [...]
JPMorgan Chase strategists said Friday that they expect consumers to shatter expectations for the rest of the year given expected fiscal stimulus and economic reopening as the pandemic eases. Meanwhile, Federal Reserve Bank of Boston President Eric Rosengren said he expects the economy to pick up steam as vaccines are distributed.
This optimistic outlook led investors to ditch Treasurys and pile into economically sensitive stocks in the financials and energy sectors, helping those groups notch big weekly gains."
Did anybody receive 1099 form for IOFIX? I invested in IOFIX in April 2020 in my taxable accounts. I have no immediate plans to sell it. There is a difference between paying taxes for ordinary dividends now, or for long term capital gains in the future, e.g. any time after April 2021, in my case. But if one frequently trades in and out, then of course there should not be much difference.
Bridgewater Shakes Up Leadership After a Loosing Year “Bridgewater Associates is shuffling its management ranks after one of the most challenging years in the hedge-fund giant’s history ... Bridgewater is also creating an investment committee ‘to broaden the decision making’ ... “
“After posting its worst monthly loss in history in March, Bridgewater’s flagship fund, Pure Alpha, ended the year down 7.6%. A more leveraged version of the fund lost 12.6%. The performance suffered in comparison to banner years by other prominent macroeconomic investors. Rokos Capital Management and Caxton Associates, for example, notched returns of 44% and 42.2% for the year in their master and flagship funds, respective.” Article
College Endowment Returns Plummet in Most Recent Year “The study findings, released Friday, portend a long era of muted returns for higher education institutions, which will likely encourage them to have a fresh look at financial and investment strategies in order to meet critical return targets and sustain their mission of providing urgently needed support to students. The new study was based on responses of 705 institutions representing $638 billion in endowment assets, and covers the fiscal year July 1, 2019, to June 30, 2020.”“Endowments’ average one-year returns were 1.8% as of June 30, compared with 5.3% for the previous fiscal year. The historical target return for endowments has been 7.5%, comprising spending requirements, but in recent years, endowments have been challenged to meet this target, according to the study.”ArticleNOTE - Study may be a bit misleading since it measures the one-year returns as of June 30 - shortly after the pandemic induced selloff. However, 1.8% seems like a dismal one-year return. My sense is that both 2019 and
2020 were pretty good years for most investors - despite the March / April pummeling.
Waiting for the Last Dance -- Jeremy Grantham
Did anybody receive 1099 form for IOFIX? Please pay attention to the accuracy of their reporting in this notice (which covered only December 2020). They write:
"The Fund will send you a Form 1099-DIV in early 2022 for the 2021 calendar year that will tell you how to report these distributions."
