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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.
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    @wxman123
    I do not and cannot infer anything about or from your name, but I can see from your laughable frets and snark about teen gas siphoning and Kerry's properties --- not to mention the single most boggling thing I've read on this site, 'Over time one thing I've learned is that when academics put all of their resources into fixing a supposed problem the cure is often worse than the disease. Covid response is just the most recent example of this phenomenon' --- that I simply must seek out your science show, or is it weather?, on Newsmax.
  • Bond mutual funds analysis act 2 !!
    10 years is too long. PIMIX was great until 01/2018 but its AUM got much bigger than 5-6 years ago, the managers had to look outside their best ideas in securitized and now more HY and EM and the yield is now at 4%.
    For mostly special securitized and still lower SD you can use JASVX. 2 of the managers are from SEMMX but this fund performance was much better in March 2020 than SEMMX,PIMIX,VCFIX and good YTD. I know it's new but the managers aren't. YTD (chart)
  • VGENX Vanguard Energy
    The upstream segment of energy got hammered this year. Looks like there may well be some daylight ahead for survivors, especially with vaccines on the way. So, attached my seatbelt and bought a little FANG in late October (YOC = 5.61%).
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    @wxman123
    The idea that there is not another side to the climate debate is a real issue,
    Sure, there is another side of everything, just not a side that exists in the realm of rational scientific study in the case of climate change. One can still believe the earth is flat if one likes or that Jesus walked with the dinosaurs. I suspect though that climate science denying posters like you who in my experience always claim they’re nature lovers and real experts on science and it’s just that the libtard lame stream media and a global cabal of thousands of climate scientists have everything wrong—I suspect deep down you don’t really believe the climate science denial you’re espousing. Deep down you know the science is true but just don’t care and figure I just want to make more money any way I can living exactly the way I always have and no one no matter how much scientific evidence they provide is going to tell me I’m wrong. Climate science denial is merely an expedience, a means to an end of business as usual, of preserving the status quo and all of the profits that supports, regardless of the environmental consequences.
  • Embrace Disruption With ARK Next Generation Internet ETF
    @BenWP, I've NO idea of course, it's just a feeling but I think Cathie's issue may be that she wants a partner that thinks like an innovator, see's the future possibilities and not one who only is in it for how much money they'll be making. She also like the whole "open" feeling of things and maybe thinks this was underhanded. No clue.
    A couple of articles hint at that. One is a Nov., 18th Barron's article saying that she might lose control of ARK. I was able to read it on Fidelity's site while getting quote info on ARKW. The other is this Institutional Investor article on her thoughts related to Tesla. It offers a lot more color on the individual. Sorry, that's all I've got.
  • Bond mutual funds analysis act 2 !!
    Over the last 10 years the best performance and Sharpe would have been delivered by PTIAX and PIMIX, and with no down years. Hard to recommend others when we have these (agree PIMIX is not doing so great lately, so will need to watch).
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    @wxman123 You are confusing scientific facts with opinions. The planet's rapidly warming climate doesn't care whether you're a Democrat or Republican or whether I'm a "elitist" in your opinion or not. But then again, it is well known that facts have a liberal bias. Climate change isn't a small threat. It is an existential one.
    Says you based on what you believe. And, you are an elitist not because of your politics but because you belittle other points of view. The idea that there is not another side to the climate debate is a real issue, maybe even an "existential" one.
  • Bond mutual funds analysis act 2 !!
    image
    I agree that BASIX is pretty good, MNCPX looks better when you look at performance + SD.
    Schwab have 2 recommended Multi funds JMSIX,VCFIX and I think they are not as good the others on my list. TSIIX is clearly better as a generic fund. PTIAX is another good one specializing in securitized and Munis. If I wanted to use riskier fund I would go with HSNYX over these two. It has much better performance for 1-3 years and lower SD
  • Primecap Funds Getting a Nice Boost Today on BB News
    I own 100 share of BB and when the shares fell from $57 to $5 I stopped picking stocks. Those shares sits there in my account reminding me how humbling investing can be.
    If I understood the world of "put and calls" I might attempt to learn another lesson, but I'm afraid that too would not end well.
    Thanks @msf for humbling me further. I usually don't need any help.
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    @wxman123
    \\\ yet there is not a shred of proof that any of these dooms day predictions are going to come to pass or that anything we can (reasonably) do will prevent them. California has been through horrific droughts over the years...yet this year's forest fires are "proof" that the worst is upon us? There have been devastating hurricanes for as long as history itself, yet because this year was notably bad, yes, must be global warming? As I said, climate change is real and, although still debatable, I believe humans are likely responsible for the small change in temperature over the past few hundred years. The best science seems to support that much. Beyond that, live your life but don't ruin others by fear mongering over ifs and maybes. The environmental damage caused by windmill farms right now is far worse and real compared with the imagined terror they were built to prevent. The same is true with respect to solar panels, electric cars (did you think lithium batteries jumped out of the ground and into your Tesla?), etc.
    You really don't keep up, do you? Not deeply, not honestly. Shoot. And someone who writes so well and thinks so clearly, too. Shoot!
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    But you take for granted that the science behind the car you drive or the plane you fly or the cell phone you're using is accurate today and will most likely be accurate tomorrow. And if you were a smoker and went to see 100 doctors and 99 of them said you should quit smoking or it will shorten your life and the 1 doctor who didn't was a paid employee of the tobacco industry, you probably would at least consider that smoking might have a detrimental effect on your future and maybe you should change your habits. Suddenly, though when every legitimate non-industry shill climate scientist says the earth has been smoking for too long and needs to change its habits, you instead listen to some guy on Fox who says don't listen to these elitist scientists. What do they know?
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    @wxman123 You are confusing scientific facts with opinions. The planet's rapidly warming climate doesn't care whether you're a Democrat or Republican or whether I'm a "elitist" in your opinion or not. But then again, it is well known that facts have a liberal bias. Climate change isn't a small threat. It is an existential one.
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    +1 and another +1
    I am expecting, before I die, hopefully 10-20y from now, that the forests and woods and such plains as there are of NE, where some of us live, many of us in fact, from Maine down to WDC and Virginia, will start to burn annually.
    Even if the conflagrations are not initially as apocalyptic as as the coming destruction of the west slope of the western US mountain ranges.
    And then the McConnells of that world, Mitch's successors and others (forget wxman123 and his ilk) will say, too late, 'Well, whaddaya know, looka dah.'
    And the dense regions of southern NH and eastern Mass. and all of Connecticut and RI and the Hudson Valley down through Jersey and well below --- quite aside from the woods of Maine elsewhere, non-south NH, all of Vt, western Mass., Connecticut River valley, NY Upstate, ... --- will blaze in their dead dryness, the inhabitants trying to flee through incipiently burning Pennsylvania out to the fields of Ohio and beyond.
    The 2030s and 2040s will be like the migrations of the 1810s and 1820s, only alarmed, armed heavily, and faster. And people and even some politicians and corporations will say, Gosh, we should consider getting serious policywise about fossil burning and temperature rise.
  • Primecap Funds Getting a Nice Boost Today on BB News
    What matters is how large a percentage of a fund portfolio the stock constitutes, rather than how large a percentage of the company a fund holds.
    For example, VTISX holds roughly the same amount of BB as does VHCOX, about 1.4% of the company. For VTISX, this represent a mere 1% of 1% of the fund. If BB had gone up 100%, i.e. doubled rather than gone up "just" 19.25%, VTISX would have "jumped" 0.01%.
    Of the funds above, POAGX has the largest percentage of its portfolio in BB - 1%. So the impact of BB on this fund was 1% x 19.25% = 0.19%.
    One can go to M*'s ownership page for BB; once there, click on "concentrated". Aside from a Canadian fund, BB represents no more than 3½% of any fund. At best, that means that BB moved the needle about 0.7%. The only fund I recognize where BB makes up at least 2% of the fund is OAKEX. For that fund, BB added about 0.4%.
  • Primecap Funds Getting a Nice Boost Today on BB News
    BlackBerry shares rocket upwards on Amazon Web Services deal to integrate sensor data in vehicles.
    blackberry-shares-rocket-upwards
    POAGX, POGRX, VHCOX, VPMCX
  • Janet Yellen supposedly Biden's pick for Treasury Secretary
    @wxman123 You think fighting climate change is just about saving sea otters? Bless your heart, your ignorance would be almost charming if it wasn't killing the planet: https://nybooks.com/articles/2019/08/15/climate-change-burning-down-house/
    Burning Down the House
    Alan Weisman
    August 15, 2019 Issue
    The Uninhabitable Earth: Life After Warming
    by David Wallace-Wells
    Tim Duggan, 310 pp., $27.00
    by Bill McKibben
    Henry Holt, 291 pp., $28.00
    Climate scientists’ worst-case scenarios back in 2007, the first year the Northwest Passage became navigable without an icebreaker (today, you can book a cruise through it), have all been overtaken by the unforeseen acceleration of events. No one imagined that twelve years later the United Nations would report that we have just twelve years left to avert global catastrophe, which would involve cutting fossil-fuel use nearly by half. Since 2007, the UN now says, we’ve done everything wrong. New coal plants built since the 2015 Paris climate agreement have already doubled the equivalent coal-energy output of Russia and Japan, and 260 more are underway.
    Environmental writers today have a twofold problem. First, how to overcome readers’ resistance to ever-worsening truths, especially when climate-change denial has turned into a political credo and a highly profitable industry with its own television network (in this country, at least; state-controlled networks in autocracies elsewhere, such as Cuba, Singapore, Iran, or Russia, amount to the same thing). Second, in view of the breathless pace of new discoveries, publishing can barely keep up. Refined models continually revise earlier predictions of how quickly ice will melt, how fast and high CO2 levels and seas will rise, how much methane will be belched from thawing permafrost, how fiercely storms will blow and fires will burn, how long imperiled species can hang on, and how soon fresh water will run out (even as they try to forecast flooding from excessive rainfall). There’s a real chance that an environmental book will be obsolete by its publication date.
    I’m not the only writer to wonder whether books are still an appropriate medium to convey the frightening speed of environmental upheaval. But the environment is infinitely intricate, and mere articles—much less daily newsfeeds or Twitter—can barely scratch the surface of environmental issues, let alone explore the extent of their consequences. Ecology, after all, is about how everything connects to everything else. Something so complex and crucial still requires books to attempt to explain it.
    David Wallace-Wells’s The Uninhabitable Earth expands on his 2017 article of the same name in New York, where he’s deputy editor. It quickly became that magazine’s most viewed article ever. Some accused Wallace-Wells of sensationalism for focusing on the most extreme possibilities of what may come if we keep spewing carbon compounds skyward (as suggested by his title and his ominous opening line, the answer “is, I promise, worse than you think”). Whatever the article’s lurid appeal, I felt at the time of its publication that its detractors were mainly evading the message by maligning the messenger.
    Two years later, those critics have largely been subdued by infernos that have laid waste to huge swaths of California; successive, monstrous hurricanes—Harvey, Irma, and Maria—that devastated Texas, Florida, and Puerto Rico in 2017; serial cyclone bombs exploding in America’s heartland; so-called thousand-year floods that recur every two years; polar ice shelves fracturing; and refugees pouring from desiccated East and North Africa and the Middle East, where temperatures have approached 130 degrees Fahrenheit, and from Central America, where alternating periods of drought and floods have now largely replaced normal rainfall.
    The Uninhabitable Earth, which has become a best seller, taps into the underlying emotion of the day: fear. This book is meant to scare the hell out of us, because the alarm sounded by NASA’s Jim Hansen in his electrifying 1988 congressional testimony on how we’ve trashed the atmosphere still hasn’t sufficiently registered. “More than half of the carbon exhaled into the atmosphere by the burning of fossil fuels has been emitted in just the past three decades,” writes Wallace-Wells, “since Al Gore published his first book on climate.”
    Although Wallace-Wells protests that he’s not an environmentalist, or even drawn to nature (“I’ve never gone camping, not willingly anyway”), the environment definitely has his attention now. With mournful hindsight, he explains how we were convinced that we could survive with a 2 degrees Celsius increase in average global temperatures over preindustrial levels, a figure first introduced in 1975 by William Nordhaus, a Nobel prize–winning economist at Yale, as a safe upper limit. As 2 degrees was a conveniently easy number to grasp, it became repeated so often that policy negotiators affirmed it as a target at the UN’s 2009 Copenhagen climate summit. We now know that 2 degrees would be calamitous: “Major cities in the equatorial band of the planet will become unlivable.” In the Paris Agreement of 2015, 1.5 degrees was deemed a safer limit. At 2 degrees of warming, one study estimates, 150 million more people would die from air pollution alone than they would after 1.5 degrees. (If we include other climate-driven causes, according to the Intergovernmental Panel on Climate Change, that extra half-degree would lead to hundreds of millions more deaths.) But after watching Houston drown, California burn, and chunks of Antarctica and Louisiana dissolve, it appears that “safe” is a relative statement—currently we are only at 1 degree above preindustrial temperatures.
    The preindustrial level of atmospheric carbon dioxide was 280 parts per million. We are now at 410 ppm. The last time that was the case, three million years ago, seas were about 80 feet higher. A rise of 2 degrees Celsius would be around 450 ppm, but, says Wallace-Wells, we’re currently headed beyond 500 ppm. The last time that happened on Earth, seas were 130 feet higher, he writes, envisioning an eastern seaboard moved miles inland, to Interstate 95. Forget Long Island, New York City, and nearly half of New Jersey. It’s unclear how long it takes for oceans to rise in accordance with CO2 concentrations, but you wouldn’t want to find out the hard way.
    Unfortunately, we’re set to sail through 1.5 and 2 degree increases in the next few decades and keep going. We’re presently on course for a rise of somewhere between 3 and 4 degrees Celsius, possibly more—our current trajectory, the UN warns, could even reach an 8 degree increase by this century’s end. At that level, anyone still in the tropics “would not be able to move around outside without dying,” Wallace-Wells writes.
    The Uninhabitable Earth might be best taken a chapter at a time; it’s almost too painful to absorb otherwise. But pain is Wallace-Wells’s strategy, as is his agonizing repetition of how unprecedented these changes are, and how deadly. “The facts are hysterical,” he says, as he piles on more examples.
    Just before the 2016 elections, a respected biologist at an environmental NGO told me she actually considered voting for Trump. “The way I see it,” she said, “it’s either four more years on life support with Hillary, or letting this maniac tear the house down. Maybe then we can pick up the pieces and finally start rebuilding.” Like many other scientists Wallace-Wells cites, she has known for decades how bad things are, and seen how little the Clinton-Gore and Obama-Biden administrations did about it—even in consultation with Obama’s prescient science adviser, physicist John Holdren, who first wrote about rising atmospheric CO2 in 1969. For the politicians, it was always, foremost, about the economy.
    Unfortunately, as Wallace-Wells notes:
    The entire history of swift economic growth, which began somewhat suddenly in the eighteenth century, is not the result of innovation or trade or the dynamics of free trade, but simply our discovery of fossil fuels and all their raw power.
    This is our daily denial, which now flies in our faces on hurricane winds, or drops as hot ashes from our immolated forests and homes: growth is how we measure economic health, and growth must be literally fueled. Other than nuclear energy, which has its own problems, no form of energy is so concentrated, and none so cheap or portable, as carbon. By exhuming hundreds of millions of years’ worth of buried organic matter and burning it in a couple of centuries, we built our dazzling modern civilization, not noticing that its wastes were amassing overhead. Now we’re finally paying attention, because hell is starting to rain down.
    I encourage people to read this book. Wallace-Wells has maniacally absorbed masses of detail and scoured all the articles most readers couldn’t finish or tried to forget, or skipped because they just couldn’t take yet another bummer. Wallace-Wells has been faulted for not offering solutions—but really, what could he say? We now burn 80 percent more coal than we did in 2000, even though solar energy costs have fallen 80 percent in that period. His dismaying conclusion is that “solar isn’t eating away at fossil fuel use…it’s just buttressing it. To the market, this is growth; to human civilization, it is almost suicide.”
  • VGENX Vanguard Energy
    @carew388 - XLE and FENY perform nearly identically. FENY has an ER of 0.084% and XLE's ER is 0.13%
  • VGENX Vanguard Energy
    Per M*
    VGENX pays a Trailing Twelve Month yield of 5.07%
    XLE 12 month yield of 10.86%
    FENY 12 month yield of 9.78%
    With that said, investing an energy fund feels like I am investing in Sears.
    Part of me thinks I should, but part of me knows I shouldn't.
  • Embrace Disruption With ARK Next Generation Internet ETF
    This article discusses ARKW specifically but I've used ARKK for some time now. The top 10 holdings are basically the same in both and I've yet to justify the thesis of holding all of their funds. There's also a possible kerfuffle brewing with new ownership of ARK investments so caution may be warranted.
    ARK Next Generation Internet ETF
  • Social Security Benefits to Increase by 1.3% in 2021 / Plus - Budgeting for Next Year
    Dug this Full Story up this morning while working on my 2021 budget numbers.
    Reconciling the end-of-year numbers (cash on hand vs remaining liabilities) is always a nightmare. But after doing all the number crunching, I’m ending 2020 with a $6 (six-dollar) surplus. Yikes! Pretty darn lucky. It’s usually off by more. :)
    25 or more years ago I learned how to budget-out for a year in advance. Began keeping written records on 8 X 11” sheets of loose-leaf paper and have been true to the methodology. A cover-page tabulates the year’s projected income from various sources along with the year’s budgeted expenses.. These need to balance. Much is on auto-pilot. But about a dozen separate pages are used for tracking the major anticipated outlays (travel, home repair, new computers, etc.). A contingency fund is also built-in for unanticipated expenses. Without getting too specific, the approach builds in a generous sum of “pocket money” every month so that there’s no need to record smaller purchases like motor fuel, groceries, incidentals.
    A written approach like this has to be considered a dianosaur by today’s standards. But “If it ain’t broke, don’t fix it”. Curious what approaches others use (including the “Hail Mary” plan) in budgeting expenses?