Att corp yields 5% previously.
http://bonds1.net/rates/corp-bond/t-att-inc-corporate-bond-yields-rates-new-issues-quotes-news/
Just hold until matures... No fees.. Minimal worries. #1 wireless company in world...

The yields of all of the securities mentioned in the column, SPAXX (1.49%), SHY (1.16%), MINT (1.75%), FLOT (1.66%), FLRN (1.77%), and BSV (1.75%) are in the same ballpark as various online banks including Synchrony (1.75%) and Marcus by Goldman Sachs (1.80%).
Why squirrel cash away in any of these securities that (except for SPAXX) have fluctuating values, potential trading costs or holding periods, and the risk of losing value in a rising interest rate environment? Not to mention the absence of government guarantees.
If one is willing to give up a small amount of liquidity, there's currently a 1 month zero T-bill auction with an expected yield of 1.82%. If you're in a high tax (say, 10%) state, that's equivalent to over 2% interest.
When investing in bonds/bond funds, I draw a distinction between bond allocations and cash allocations. For cash, I want my holdings to be very stable, never lose money (over, say, any three month period), and at worst return not much less than "true" cash annually.
A few issues with the SeekingAlpha data:

• it shows the price of SPAXX as $1.50, up a penny (mouse over the ticker). This is a MMF.
• the column, dated 6/22, reports SPAXX's yield at 1.49%. Fidelity (6/25) shows it at 1.39%. MMF yields don't typically fluctuate 10 basis points daily.
• the bar graph titled "Annual Returns of Portfolio Assets", above the label 2018 is showing not annual (or annualized) returns for 2018 but YTD figures.

>> the yield curve is not inverted
Or is it?
https://www.nytimes.com/2018/06/25/business/what-is-yield-curve-recession-prediction.html

Hi Catch
He still has stocks heavily invested mostly technology/NASDAQ stuff/sp500 and indexes. He has not sell them yet. Although he has new money coming in and holding in cash waiting for crash to buy more real estates so he can rent the houses out. Cali in Bay areas homes now goes up ~ 900 dollars/day I think, it still a very hot market and he think it maybe best place to invest short/long term once the crash happen. He does not know but real estate crash happens every 10-17 yrs, last one was late 2007, and previous one in Cali was in early 1990s until the tech/dot.com boom
so we maybe due for another one soon 12-36 months?! dont really know

Fidelity and Schwab both say the fees they charge are a good value for funds and investors. ...
[Schwab VP of mutual fund and ETF platforms] Ms. Fischer noted that fund companies can choose to go on Schwab's transaction fee platform if they don't want to pay the fee for the NTF platform.

What Ms. Fischer didn't say was that in addition to the commissions you pay to trade TF funds, the funds themselves still pay to get that TF shelf space. It's typically 0.10%, but can be as much as 0.25%, plus a onetime entry fee of $10K for the first fund in the family, and $2K for each additional fund.
https://www.schwab.com/public/schwab/nn/compensation_advice_disclosures/schwab_compensation#transaction_fee_funds
Sure there's some cost that the brokerages bear for servicing these accounts. But companies like Vanguard, and Schwab and Fidelity, can sell their own index funds for under 10 basis points. That fee includes not only the servicing of the funds but the management costs as well. So 10 basis points for shelf space alone would seem to include quite a markup.

Re: the article, I don't have access, but the message is clear from the summary. However, anyone can argue any fund or other investment is somehow unworthy by cherrypicking the period by which it's judged. Too bad for this article's particular argument, PARWX is top 1-2% for 1m, 3y, 5y, and 10y. Yes, it's lumpy, but longer term, it's one of the very best.

https://www.barrons.com/articles/the-trump-bump-and-sustainable-investing-1529712001
Parnassus Endeavor hasn’t done much for investors lately. The large-company stock fund lagged behind two-thirds of peers over the past 12 months and returned 3% this year, trailing the broader market. That kind of performance usually doesn’t attract investors.
But not in this case: Endeavor (ticker: PARWX) has raked in $2.4 billion in new money since President Donald Trump’s election, hitting $5.2 billion in assets.

That didn't come out right.
My point is If anyone bought say QLENX 3 years back, she has no trouble holding onto it for the "long term". If one bought it in Jan, it is hard to hold on to it.
Easy to criticize investors for "buying high and selling low". At "opportune" times, i.e. never in a bear market but after bull market has recovered we keep seeing articles "only if investors had held onto..." etc. etc. As if investors never EVER sell a fund at the right time. As if funds NEVER break, and then go down.
WTF did I hold on to HSGFX? Because I bought it early. Was that a good decision. No? I held on for the long term didn't I? OTOH if anyone bought Hussman 5 years back and sold it in 6 months he came out ahead. Then my investment in TFS funds. I held on for long time. What happened? Before they could turn around, they simply folded. SEEDX anyone? How many people held on SEEDX for the "Long Term"?
Regarding OTCRX, I'm able to "hold on" because of WHEN I bought it. It's easy when portfolio shows positive returns for a fund. Not otherwise.
My point. WHEN you buy, and sell, is important. MUCH more important than which fund you buy. "Long Term" is bullshit and term coined solely to make sure enough foolish assets stay with the firm so they can continue to rake in fees.
EDIT: Let's see how many SFGIX holders hold on for "long term" if they purchased YTD. What I know is if $ goes up / E goes down, I'm going to buy ARTYX, ARTZX and then trade them. Long Term can kiss my a**.

Here is a filing for HOBEX for its quarterly holdings as of 1/31/18:
https://www.sec.gov/Archives/edgar/data/1552947/000158064218001813/holbrook_nq.htm
I am glad to see they have a bond position from CSWC, a BDC, in their portfolio; CWSC is one of my favorite stock holdings as well as CSWI, a spinoff from CSWC.

I wonder why the difference in er between the two classes is 50bp, rather than the more typical 25 or 30 on Schwab.

HOBEX yield is 3%. RPHYX is 2.3%. RSIVX is 5%. And VMMXX is a "risk free" 2.0%.
I am all bonded out. So not buying HOBEX or ZEOIX for that matter. If interest rates keep rising VMMXX will keep up with it. Just does not make sense to me to go further out to make an extra % and risk a break. Wish such funds were available 3 years back.

His Assness needs to explain performance of QLENX and QMNNX. Why they matched S&P 500 trajectory when the going was good, and why they are suddenly sucking wind this year.
Makes you wonder if these funds are really doing what they are supposed to do.

IMHO, too little too late. I suppose technically not too little, as E*Trade added 32 Vanguard ETFs (as well as 3 iShares and several from lesser known families), after having dropped a somewhat different 32 Vanguard ETFs last year.
New additions: https://about.etrade.com/releasedetail.cfm?ReleaseID=1070496
2017 dropped ETFs: https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA1000834.pdf
Missing are ETFs like VEU and VYM that were dropped last year. In their place seem to be several new Vanguard ETFs such as Vanguard's "factor" ETFs.
FYI, the commission-free ETFs that E*Trade added last year at the same time it was dropping Vanguard and iShares:
https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA1000835.pdf
And the list of relatively obscure ETFs that it added even earlier that year:
https://www.businesswire.com/news/home/20170224005360/en/E*TRADE-Expands-Lineup-Funds-47-Commission-Free-ETFs
E*Trade may not be quite ready for prime time, as its current list of ETFs offered commission free doesn't show the funds just added. (This appears to be a live page, so if you follow the link in a few days, it will probably have been updated by then.)
https://research.tdameritrade.com/grid/public/etfs/commissionfree/commissionfree.asp

It is hard to miss the Holbrook Income Fund - HOBEX/HOBIX - #1 in the short term bond fund category at Morningstar YTD and one year. Since apparently this fund will be featured in July’s monthly commentary here on MFO, I don’t want to steal anyone’s thunder and just mention it briefly. Holbrook is a new fund (July 2016) with only 14 million under management. The reason for the low AUM is that it is only available in 25 states and on two platforms - TD Ameritrade and Schwab - at least for now as Holbrook is actively looking to expand its reach. I have always been enamored of small newer funds and especially ones with a niche. Holbrook’s niche are the bonds of BDC’s ( Business Development Companies). These higher yielding bonds go by the moniker of “Baby Bonds” and are rated investment grade. None of these BDC bonds have ever previously defaulted on their obligations.
Yes, I know, a relatively high expense ratio (common for a new fund with low AUM, but I heard the same thing last year about IOFIX. Presently I am around 90% in non agencies via IOFIX (42%). DPFNX (29%) and SEMPX (19%). These funds have bucked the overall downtrend in bonds YTD. But so has the Holbrook Income fund. It first caught my attention by its tight rising channel price action. I was able to purchase HOBIX through TD Ameritrade after contacting Holbrook. I spoke with the head of marketing Mike Burns and was also able to speak with the fund manager Scott Carmack. I was extremely impressed with both. This fund is not ordinarily my cup of tea as they aim for 4% to 5% annually with minimal drawdown along the way. But In this current bond environment though 4% to 5% sounds pretty good. So we shall see how it goes but with of course an exit point in place.
Again, there will be a more detailed description of this fund in them July MFO monthly commentary.

FYI: Vanguard Group won a victory of sorts when E*Trade Financial Corp. added 32 of its exchange-traded funds to its commission-free platform. The arrangement allows prospective Vanguard buyers to avoid the $6.95 fee that E*Trade charges to trade funds that don’t make the cut, the online brokerage said in a statement this week.
Regards,
Ted
https://www.fa-mag.com/news/vanguard-wins-over-e-trade-with-etfs-despite--no-payment--policy-39370.html?print

FYI:
Regards,
Ted
June 21, 2018
Dear WEALTHTRACK Subscriber,
We are celebrating the launch of our Fifteenth Season on Public Television this week! Talk about long-term investing. We are delighted that you are here to share it with us.
Our goal when we started the show was exactly as it is now - to help our viewers build long-term financial security through disciplined, diversified investing, with advice from some of the top professionals in the business. We are continuing that tradition this week.
One of the hallmarks of Great Investors and Financial Thought Leaders is independent thinking. In order to beat the market you have to do unconventional things. This week’s guest is a prime example. He is known for his rigorous research and ability to create strategies that are either non-correlated with market behavior, i.e., they zig when the market zags, or add alpha, a performance edge over the market using more conventional strategies.
We’ll be joined by Cliff Asness, Co-Founder, Managing Principal and Chief Investment Officer of AQR Capital Management, a global money management firm he launched in 1998. It now has $225 billion dollars under management in hedge funds, as well as other alternative and more traditional strategies for clients and its family of mutual funds, which it started in 2009. One of the oldest, the AQR Managed Futures Strategy Fund, which has so far achieved its goal to be non-correlated to the market is co-managed by Asness and has a Morningstar Bronze analyst rating.
AQR stands for Applied Quantitative Research. The firm uses proprietary computer models to forecast returns for a wide variety of assets and geographies using a heavy application of old fashioned human brainpower, which it has in abundance. At last count 11 of the firm’s 26 principals have doctorate degrees and 5 are current or former professors.
Asness is a PhD in Finance from the University of Chicago where he was Nobel Laureate Eugene Fama’s teaching assistant for two years. He has won numerous prestigious awards for his own research including the CFA Institute’s James R. Vertin Award in recognition of his “body of research notable for its relevance and enduring value to investment professionals”.
AQR is known for its value orientation but Asness is quick to point out there are other key strategies employed. During this week’s interview, we’ll discuss the four core strategies AQR has identified over the years that can add a performance edge to portfolios.
If you miss the premiere show of our new season on air this week, you can always watch it on our website. It’s available to our PREMIUM viewers right now and to everyone else over the weekend. We also have an EXTRA interview with Asness about his research on a seldom used but highly effective ice hockey strategy that has investment applications.
Also, if you're looking to take WEALTHTRACK with you on your commute or travels, you can now find the WEALTHTRACK podcast on TuneIn, Stitcher, and SoundCloud, as well as iTunes. Find out more on the WEALTHTRACK Podcast page.
Thank you so much for watching. Have a great weekend and make the week ahead a profitable and a productive one!
Best regards,
Consuelo
Video Clip:

@Art Bear in mind my original first post on this thread was:

The original non-pirated story: https://barrons.com/articles/this-junk-bond-fund-shines-bright-1529585687

For posting that, Ted told me:

Get off this intellectual property BS. In the over 50,000 links here at MFO and FundAlarm you are the only one to ever complain.

And then Ted posted a link to images of pirates to mock my concerns. Then I responded in kind with some sass back. Yet somehow you decided to insert yourself without any knowledge of the situation and attack me for having a "axe to grind" and telling me to go elsewhere. Yet you said absolutely nothing to Ted for provoking this whole exchange by first posting pirated material of my work and then insulting me for merely noting that it was pirated and providing the true link to the story. No, nothing you have to say about Ted. That's what I call a hypocritical double standard if ever I saw one. And yet it is an all-too familiar double standard.

https://www.sec.gov/Archives/edgar/data/1331971/000113322818004040/e496674_497.htm
497 1 e496674_497.htm 497
Prospectus Supplement
John Hancock Funds II
Supplement dated June 21, 2018 to the current Prospectus, as may be supplemented
John Hancock Natural Resources Fund (the “fund”)
At its in-person meeting held on June 19–21, 2018, the Board of Trustees of John Hancock Funds II approved the closing and liquidation of the fund pursuant to a Plan of Liquidation. As of the close of business on or about October 19, 2018, there are not expected to be any shareholders in the fund, and the fund will be liquidated on such date.
For more information, please call John Hancock Investments at 800-225-5291.
You should read this Supplement in conjunction with the Prospectus and retain it for your future reference.

https://www.sec.gov/Archives/edgar/data/63210/000119312518199483/d770939d497.htm
497 1 d770939d497.htm THE GAMCO MATHERS FUND
Filed Pursuant to Rule 497(e)
Registration No. 002-23727
The GAMCO Mathers Fund (the “Fund”)
Supplement dated June 21, 2018 to
the Class AAA Summary Prospectus and Prospectus dated April 30, 2018 (the “Prospectus”)
The Board of Trustees of the Fund has approved a Plan of Liquidation for the Fund, pursuant to which the Fund will be liquidated (the “Liquidation”) on or about August 31, 2018 (“Liquidation Date”). This date may be changed without notice at the discretion of the Fund’s officers. All capitalized terms used but not defined in this Supplement shall have the meanings ascribed to such terms in the registration statement.
Suspension of Sales. Effective the close of business on June 20, 2018, the Fund will no longer sell shares to new investors or existing shareholders, including through exchanges into the Fund from other funds in the Fund Complex.
Mechanics. In connection with the Liquidation, any shares of the Fund outstanding on the Liquidation Date will be automatically redeemed as of the close of business on the Liquidation Date. The proceeds of any such redemption will be equal to the net asset value of such shares after the Fund has paid or provided for all of its charges, taxes, expenses and liabilities. The distribution to shareholders of these liquidation proceeds will occur as soon as practicable, and will be made to all shareholders of the Fund of record at the time of the Liquidation. Additionally, the Fund must declare and distribute to shareholders any realized capital gains and all net investment income no later than the final Liquidation distribution.
Other Alternatives. At any time prior to the Liquidation Date, shareholders of the Fund may redeem their shares of the Fund and receive the net asset value thereof, pursuant to the procedures set forth under “Redemption of Shares” in the Prospectus. Shareholders may also exchange their Fund shares for shares of the same class of other funds in the Fund Complex.
U.S. Federal Income Tax Matters. For tax purposes, with respect to shares held in a taxable account, the automatic redemption of shares of the Fund on the Liquidation Date will generally be treated as any other redemption of shares (i.e., as a sale that may result in gain or loss for federal income tax purposes). Instead of waiting until the Liquidation Date, a shareholder may voluntarily redeem his or her shares prior to the Liquidation Date to the extent that the shareholder wishes to realize any such gains or losses prior thereto. See “Tax Information” in the Prospectus. Shareholders should consult their tax advisors regarding the tax treatment of the Liquidation.
If you have any questions regarding the Liquidation, please contact the Fund at 1-800-GABELLI (1-800-422-3554).
Please retain this Supplement with your Summary Prospectus and Prospectus for future reference.

@Lewis: Just for you !
P.S. Nothing illegal was done since MFO or myself profited from the link. Get off this intellectual property BS. In the over 50,000 links here at MFO and FundAlarm you are the only one to ever complain.
Regards,
Ted
https://www.google.com/search?q=pirate&tbm=isch&source=iu&ictx=1&fir=exYjYsanUvbNJM%3A%2CXStyrt0GGOrraM%2C_&usg=__eBQiWr5nC3qRuVuRAfnhj8jj55k=&sa=X&ved=0ahUKEwjPu--0lOXbAhVEITQIHfMEDC4Q_h0IxwEwDg#imgrc=exYjYsanUvbNJM: