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Very Interesting Article and Video Presentation.Michael Cembalest is the Chairman of Market and Investment Strategy at JP Morgan Asset Management.
Since 2005, Michael has been the author of the Eye on the Market, which covers a wide range of topics across markets, investments, economics, politics, energy, municipal finance and more.
For 2025:
Deregulation, deportations, tariffs, tax cuts, cost cutting, crypto, oil & gas, medical freedom and Agency purges: What could possibly go wrong?
For 2024, individuals with taxable income below $47,025 ($94,050 for married couples) pay 0% tax for long-term capital gains (LTCG). In years when you’re under the threshold you could effectively lock in tax-free long-term gains. The idea would be to realize just enough LTCG to stay within the 0% tax bracket. You also have to tack on the standard deduction which is $15,000 for individuals or $30,000 for a married couple. That means don’t have to pay federal income taxes on your long-term capital gains until your income exceeds a little more than $63,000 (single) or $126,000 (married couple). So you could realize more than $63,000 ($126,000) in capital gains and dividends without paying any federal income tax.
Their 19(a) filing from December@rforno: I can't locate any info on that UTG 60% ROC. Do you have a source?
If you like the sector and the managers take a look at UTES. However if it's the income you were after don't bother. DNP might be an income source.
There's often a disconnect between Main St. and Wall St.Spectating today, as Mr. Market falls due to GOOD news about jobs.
Divorce between Wall St. and Main St.
BIG swaths of the L.A. basin are going to have to be rebuilt, like N.O. after Katrina. Domestic Marshall Plan will be required. But federal budget is stretched already so far, you can feel it in the 51st State. (LOL.)Sold INCM (not a bad income play). Leaped into RLTY. Gives me 3 equal weight CEFs in the equity / income sleeve, which is something I’d hoped to achieve, It’s a risky bet on rates falling and real estate turning up. Most of my other stuff is pretty conservative, so can play a bit here.
As @fundly observed, one can purchase the ITRIX clone w/$100 min through Firstrade. While not an exact copy, it is a faithful clone that mimic's PRWCX's allocations between stock and bonds, and even within stocks.PRWCX vs (TCAF+PRCFX)
If you can't own PRWCX, maybe consider owning a combination of TCAF/PRCFX.
Using a percentage of the eft TCAF in combination with a percentage of PRCFX one can approximate the same portfolio as PRWCX.
PRWCX allocation changes dynamically so this is an imprecise science.
Using PV, you can back test these three funds over the short lifespan of TCAF and PRCFX (1 Year). I found that a combination of approximately (1/3) TCAF and (2/3) PRCFX achieved a slightly better return that PRWCX with similar risk profiles. Maybe, in large part to a lower ER than PRWCX.
Here's the PV link:
https://portfoliovisualizer.com/backtest-portfolio?s=y&sl=3fHSaFUgvCF0hNyOy10GSc
I do not trust my memory for specifics. I only carry the general notion and I check every time I need to validate it or need specifics. What you say sounds right but I thought the eligibility requirements are stated on their website - see if you can find.Just got off the phone with TRPRice.
@$250K AUM they offer access to their closed funds such as PRWCX
@$500K AUM they offer access to their institutional share class funds such as TRAIX
@BaluBalu is that your understanding?
PRWCX can be converted to TRAIX on the Vanguard platform. I believe the minimum is $500,000.@Crash, you should be able to convert your PRWCX into TRAIX ( for the lower ER of 13 basis points). I think TRAIX is available on TRP platform only. Many do not like the TRP platform and do not want to move their PRWCX to TRP even if they meet the minimums. There are other reasons (you may choose to call mental frictions) for not consolidating. On a $1m size, a difference (loss?) of $1,300 annually. What is a rational behavior can change as circumstances change. If the 13 becomes 26, some of these people might switch. Anyway, a long winded answer to what I think was your primary question. You do you.
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