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:

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

FYI: Diamond Hill Corporate Credit, managed by Bill Zox and John McClain, takes a more conservative approach to a riskier asset class.
Regards,
Ted
http://www.cetusnews.com/business/This-Junk-Bond-Fund-Shines-Bright.SksmXmFbm.html
M* Snapshot DSIAX:
https://www.morningstar.com/funds/XNAS/DSIAX/quote.html
Lipper Snapshot DSIAX:
https://www.marketwatch.com/investing/fund/dsiax
DSIAX Ranks #5 In The (HYB) Fund Category By U.S. News & World Report:
https://money.usnews.com/funds/mutual-funds/high-yield-bond/diamond-hill-corporate-credit-fund/dsiax

Many sectors globally, after a big run in January; and then the market twitch at the end of the month finds most areas at the very best, no better than a sideways move.
--- Asia, Europe, U.S. equity, many continue in a "down" trend and negative YTD
--- U.S. utils, real estate and consumer staples trying to establish an "up" trend the past 2 days
--- Investment grade bonds attempting to establish a continued "up" in pricing (meaning yields down).
Well, just my humble, inflation adjusted observation.
Our house remains 50% U.S. equity oriented, with the majority in tech. and health; and 50% money market cash.
Good fortune to your particular holdings.
Catch

FYI: As mutual fund managers face increasing calls to cut their fees, they're asking no-transaction-fee platform providers such as Schwab and Fidelity to cut theirs as well — or at least figure out a way to let investors know what part of their expense ratios go toward distribution.
Regards,
Ted
https://www.google.com/search?source=hp&ei=c24rW4CoOOq3jwT7xrroCQ&q=Mutual+Funds+Feel+The+Pinch+Of+Platform+Fees&oq=Mutual+Funds+Feel+The+Pinch+Of+Platform+Fees&gs_l=psy-ab.3...2760.2760.0.3774.3.2.0.0.0.0.80.80.1.2.0....0...1.2.64.psy-ab..1.1.72.6..35i39k1.72.UXLckIxdJC4

FYI: Not so long ago, one cash investment seemed virtually indistinguishable from the next. With the Fed funds rate barely positive as recently as late 2016, most investors considered their low-yielding CDs and money market funds dead money--a necessary parking place for near-term expenditures, or a place to hunker down if they were feeling fearful. Nothing more.
Regards,
Ted
https://www.morningstar.com/articles/870185/wheres-the-best-place-to-park-your-cash.html

FYI: Billionaire PIMCO founder Bill Gross allegedly used dead fish and prank smell sprays to make his ex-wife's life miserable following their divorce.
Regards,
Ted
http://markets.businessinsider.com/news/stocks/billionaire-bill-gross-ex-wife-says-he-tormented-her-with-dead-fish-after-divorce-2018-6-1027173885

Yikes! A 6 year corporate bond with 9%+ YTM? Great interest, so long as they pay it. Good luck getting your principal back. At 24%+ YTC, I wouldn't count on it getting called soon.
The cbonds page cites Goldwasser (Brussels) as the source for price quotes. Here's Goldwasser's page (translated via google) for the bond (give it about a minute to load):
https://translate.google.com/translate?hl=en&sl=nl&u=https://www.oblis.be/nl/bond/hertz-corp-55-15102024-usd-538502
According to both the cbonds page and Goldwasser, it's currently trading around 83 (100 is "par" for bonds). Did I mention that any gain you might realize due to the market discount is taxed as ordinary income?

Are hertz Corp bond have good place as a private div player
http://cbonds.com/emissions/issue/250145

I’ve also shifted 10% of the total assets in our 401K plans into the stable value fund. It’s currently yielding about 2% and it’s been rising. It has actually outperformed the bond index fund in our 401K plan over the past 1,3 and 5 years. If you have a 401K, this is a great option during the current market.

An update to above CD post- First Republic Bank in SF now has 10 month @2% and 20 month @2.5%. So things are starting to move.
FWIW, I'm guessing that they are looking at 3 to 3.5% in 20 months.
ADD: Current @ 4:45 PDST, from the WSJ:

Powell Says Solid Economy Supports More Fed Rate Rises
"Fed Chairman Jerome Powell said economic growth has built a strong case for continuing to lift interest rates"

@Tarwheel- Yes, same here. I've started with a 13 month @ 2% and intend to keep adding every .5% or so.

Sven - or you can look at different Funds that you prefer, look at their top 5 -10 holdings, and buy the individual bonds there...most of them hold these bonds for quite sometimes. The other options are to look at corp cusip [something that you like], do google search on them, read the annual reports, search if they have history of bankrupcy, and consider buying them. I usually buy the one that have multiple large companies that hold them. You cannot go wrong w/ ATT corp bonds, MACYS, chevron bonds, etc... They survived the last crash and probably will survive next one. I just don't like to pay the 1-2% yearly fees for these funds.
Or just get ETFs bonds [from PIMCO for instance] they may have similiar returns to their funds and minimal fees.

@STB65, I would stay with FFRHX in the near term. Floating rate funds are high yield bond funds (aka junk bonds), but they tend to do better than corporate, mortgage and treasury bond funds in rising rate environment. Don't know how the transfer from Fidelity into Vanguard would be like. I would recommend you talk with your administrator (university) on the options available. If you decide to rollover your 403(B) into Vanguard as brokerage or other firms, the brokerages have many fund choices besides the one you have now.

@catch22, Just about all foreign funds and bonds are down for the year. The US large cap funds are up 3-5% while the smaller caps have done better, presumably their business are more domestically oriented and less impacted by the tariff. At some point, the tariff impact will spread to all supply chain even the smallest caps. This is going to be a tough year.

FYI: The US Dollar index is now up 7.4% since its 2018 closing low hit on February 15th. This morning we just wanted to provide a heads up that the Dollar is breaking above another key resistance level at 95. The index had couldn’t break through 95 last October/November, and it failed once again at 95 at the end of May. The break above resistance at 95 this morning clears out additional supply and provides room to run towards 97 in the near term.
Remember, dollar strength benefits companies that generate most or all of their revenues domestically, while it hurts large-cap companies that generate large portions of their sales outside of the US. This is a key reason why the small-cap space has been outperforming over the last few months — small-caps are much more “domestic” in nature versus large-cap, global behemoths.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/us-dollar-breaking-above-another-key-resistance-level/