REMIX is a complicated fund using a black box management*.
Fidelity shows Top 10 Holdings AS OF 07/31/2024 at (https://fundresearch.fidelity.com/mutual-funds/composition/90470L576)
* The All-Weather strategy is an asset allocation methodology that diversifies across geographic regions, asset classes, and investment styles. The fund can invest in securities that may have a leveraging effect (such as derivatives and forward-settling securities) that may increase market exposure, magnify investment risks, and cause losses to be realized more quickly
We also discussed this fund on MFO, see https://www.mutualfundobserver.com/discuss/discussion/comment/178746/#Comment_178746

Thanks. As always a good summary from you.

Ditto: Nice summary. Thanks Yogi.
Strange day. Santa Clause Jerome Powell gave the markets what they wanted - a 50 basis point rate cut and promise of more to come. Such ingratitude! Stocks fell. Gold fell. Silver tumbled hard. Miners fell too. Looks to me like intermediate and longer-term rates held fairly steady. (The GNMA I track declined slightly.) Looks as if the dollar strengthened on the news. Not what one might expect on a rate cut. Maybe there’ll be a “big bang” (strong reaction) tomorrow? Upside? Downside? Anybody want to place a bet?

The Securities and Exchange Commission on Wednesday approved a change to market rules that would cause the prices of many stocks to be quoted in increments of $0.005.
The rule change—which could potentially affect thousands of stocks and exchange-traded funds—is part of an overhaul of market plumbing that SEC Chair Gary Gensler initiated after the GameStop trading frenzy of early 2021. It was approved in a unanimous vote by the agency’s five commissioners, including two Republicans who have in the past opposed elements of Gensler’s agenda.
SEC officials say the rule change will help lower costs for investors by narrowing bid-ask spreads—the difference between the buying and selling prices of stocks. Bid-ask spreads eat into investors’ gains when they trade in and out of stocks. If the spreads are tighter, investors save money.
< - >
https://www.wsj.com/finance/regulation/get-ready-to-see-stock-prices-in-half-pennies-1f18321b?mod=hp_lead_pos11
IMO the only 'investors' served by this are the high-speed traders moving millions of shares and trying to profit on miniscule amounts per trade, and *maybe* fund managers might save a tiny amount on commissions as they reposition. But the Average Joe and Jane Investor won't care one bit....or notice an extra $1 in their fund's share price at the end of the year thanks to such cost savings.

Thanks. As always a good summary from you.
P.S.: He was relaxed during the presser, which makes me a bit nervous! Seems like he had to work for the 50 bps cut and appeared relieved he got it through, with only one dissent.

ANYONE KNOW WHY THEY HOLD 3 S&P 500 ETFS? WHY NOT JUST HOLD ONE?

Post Conference Notes by YBB
Rates were cut - fed funds 4.75-5.00%, bank reserves rate 4.9%, discount rate 5.0%. Treasury QT continues at the reduced level of -$25 billion/mo, but MBS QT remains at -$35 billion/mo. The QT & rate cuts can coexist so long as there is ample liquidity in the banking system.
Economy is moderately growing, the labor market is solid but not hot, the inflation is moving towards 2% average inflation target, the fed fund rate is above "neutral" rate (its value varies by sources). So, a policy recalibration was needed vs that since mid-2023. The future cuts may be 25 or 50 bps. Multiple rates cuts are likely in 2024 (there are only November & December FOMCs). But the return of ZIRP era is unlikely. Moreover, if inflation starts to rise, the Fed may reverse course.
Housing inflation as indicated by OERs is high but coming down. Issues are national housing shortage & homeowners with low mortgage rates staying put. Lower mortgage rates should bring things into a better balance.
Basel III banking changes (especially, the lower bank capital requirements) are a result of interagency negotiations & are now in the 60-day comments period. He declined to address changes to M&A regulations than Michael Barr is looking into.
The Fed doesn't consider itself to be behind the curve.
The Fed doesn't take into account the election rhetoric or politics.
There were new SEPs.
https://ybbpersonalfinance.proboards.com/post/1660/thread

Speaking of "polls": As of 11:15 PST-
DJIA 0.22%
S&P Mid Cap 400 1.25%
Technology 0.16%
DJT: $15.65 -3.62%

So. Much. Winning!
He desperately wants it to stay above (IIRC) 12-and-change so he can sell at some point....

Speaking of "polls": As of 11:15 PDST-
DJIA 0.22%
S&P Mid Cap 400 1.25%
Technology 0.16%
DJT: $15.65 -3.62%

These are the only 2 Rondure funds left with AUM of $98.88 million. So, will Laura Geritz focus on SMAs only? Before founding Rondure, Laura was at Wasatch and American Century.
Overseas ROSOX was shut in February 2024.
Barron's in 5/24/21 issue mentioned that older value investors were leaving the business or dying. Laura was mentioned as up and coming new generation of value investors with 10+ years ahead of them - well, not for Laura.
"VALUE has lagged badly for so long, that it is risky to pick the NEXT GENERATION of value hunters. But that didn’t stop Barron’s from coming up with the following list (all have 10+ years of career ahead of them).
Pierry PY, 44, Phaeacian (global PPGVX, international PPIVX). That is Greek for world travelers.
Mark COOPER, 52, MAC Alpha Capital (hedge fund). Also teaches at Columbia Business School.
Samantha McLEMORE, 41, Miller Value Partners (LGOAX) and Patient Capital (own new firm). Has small exposure to Bitcoins.
Clare HART, 50, JPM OIEIX. Looks for free cash flow yield and quality value.
Henry ELLENBOGEN, 48 and Anouk DEY, 35, Durable Capital. Dey also teaches at Columbia Business School.
Laura GERITZ, 49, Rondure Global (RNWOX, ROSOX ). Quality-contrarian looks for high returns and free cash flows."
All Rondure funds https://www.morningstar.com/asset-management-companies/rondure-BN00000J7W/funds
ROSOX closure https://www.mutualfundobserver.com/discuss/discussion/61877/rondure-overseas-fund-will-be-liquidated
Website https://rondureglobal.com/
Barron's issue summary at YBB site https://ybbpersonalfinance.proboards.com/thread/121/barron-24-2021-2

https://www.sec.gov/Archives/edgar/data/1537140/000158064224005603/rondure497.htm
497 1 rondure497.htm 497
Rondure New World Fund
Investor Class - RNWOX
Institutional Class - RNWIX
(a series of Northern Lights Fund Trust III)
Supplement dated September 18, 2024 to
the Prospectus and Statement of Additional Information dated August 31, 2024
The Board of Trustees of Northern Lights Fund Trust III (the “Board”) has concluded that it is in the best interests of the Rondure New World Fund (the “Fund”) and its shareholders that the Fund cease operations. The Board has determined to close the Fund and redeem all outstanding shares on or about October 18, 2024 (“Redemption Date”).
Effective immediately, the Fund will not accept any new investments, will no longer pursue its stated investment objective, and will begin liquidating its portfolio and investing in cash equivalents such as money market funds until all shares have been redeemed. Any required distributions of income and capital gains will be distributed as soon as practicable to shareholders and reinvested in additional shares, unless you have previously requested payment in cash.
Prior to or on the Redemption Date, you may redeem your shares, including reinvested distributions, in accordance with the “How to Redeem Shares” section in the Prospectus. Unless your investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Tax Status, Dividends and Distributions” section in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.
ANY SHAREHOLDERS WHO HAVE NOT REDEEMED THEIR SHARES OF THE FUND PRIOR TO THE REDEMPTION DATE WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OF RECORD. If you have questions or need assistance, please contact your financial advisor directly or the Fund at 1-855-775-3337.
This Supplement, and the Prospectus and Statement of Additional Information dated August 31, 2024, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information have been filed with the Securities and Exchange Commission, are incorporated by reference and can be obtained without charge by calling the Fund at 1-855-775-3337.

Launch a national cryptocoin (pander to rich crypto bros, [negatively] impact the financial system)
But, but ... you don't seem to understand. Impacting the financial system is not a negative, it's a positive to take down the anti-conservative banks.

Other speakers after Trump, including his eldest son, Don Jr., talked about embracing cryptocurrency as an alternative to what they allege is a banking system tilted against conservatives.

https://apnews.com/article/trump-crypto-digital-assets-a08456edc5947451f3f23b184ed9fb29
Trump has done so well with DJT (and Trump U, and the Trump steaks, and ...), why not launch another business? He's learned so much about crypto from great advisers:

Barron, ha[s] shown “great judgement” on the technology. “I think my children opened my eyes more than anything else,” he said. “Barron’s a young guy, but he knows it. He talks about his wallet, he’s got four wallets or something ... he knows this stuff inside and out.”

https://finance.yahoo.com/news/trump-launches-crypto-company-amid-115939262.html
I'll see his four wallets and raise him one ... or something.

"Somehow we do not seem to be able to find a middle ground on anything. Either over regulation or no regulation."
Ain't that the truth.
BTW, I haven't seen any info on the pipeline itself... gas or oil? From the reports I'd guess gas.

YES, NGL.
https://www.chron.com/news/article/houston-deer-park-pipeline-fire-19768583.php

@Junkster
Still holding my Junk. The new Core-Plus fund is just 1.5% of portfolio. WCPNX. Enjoying the ride, though my junk funds are by no means leading the pack.

@Crash, I give you credit for your persistence and glad it is working out for you.

@Junkster
Still holding my Junk. The new Core-Plus fund is just 1.5% of portfolio. WCPNX. Enjoying the ride, though my junk funds are by no means leading the pack.

CBLDX is 40% investment grade and 55% high yield. Curious to know how this can be a comparable to a MM or CD where principal is (almost) guaranteed.
Personally I would consider CBUDX as closer to a MM because 75% of holdings are investment grade.

Bought CBUDX to squeeze out some more high yield juice given that the 5%+ MM party has ended.
Micro starter position in XHB

Bought a few more of ET on the share price dip after that crazy well-head or valve fire in Deer Park, TX, outside Houston. Should have burned off by now. Now 5.45% of portfolio. BHB is behaving nicely, anticipating rate cuts. Tiny position in BCE is finally looking up. Canadian rate cuts...
https://www.reuters.com/business/energy/energy-transfer-pipeline-continues-burn-la-porte-texas-2024-09-17/
From the Schwab website:
"...a massive pipeline explosion after a vehicle drove through a fence and struck an above-ground valve, officials said....The statement by Deer Park said Energy Transfer, the Dallas-based owner of the pipeline, expects the fire to burn itself out later Tuesday...."
(Drunk driver??? We don't do suicide bombings in THIS country.... YET! There is no info on the driver yet, either.)
"Harris County Judge Lina Hidalgo said in a statement that 20 miles (32 kilometers) of pipeline between the two closed valves had to burn off before the fire would stop."
OMG.

@ FD. For several years the total return on CD’s killed bond funds for everyone but you. The situation was shorted lived but lots of risk free cash flow was fun while it lasted.

First, the question is about now.
Second, in the last 2 years the right bond funds killed CD...CBLDX made 15+%...OSTIX 20+%. There are better ones. The right bond funds have more to go. 2024 has been one of the easiest one to make money.
Third, I know others who have done well too.
But, if you like CD, by all means use them.

wow. out of the gates fast +4-5%. wait and see how their metrics unfold.

It used to be that computer-generated ratings were flagged by Q-symbols. Morningstar generates genuine analyst ratings for about 15-20% of the fund universe it covers. Now there is additional work as each fund class has its own analyst rating (not just the oldest class).
But earlier THIS year, Morningstar removed the Q-symbols claiming that its computer-generated ratings are now as good as the analyst-generated one, or one could say that analyst-generated ratings are just as bad as the computer-generated ones.
So now, the only indication of computer-generated rating may be from the text that may have more indecipherable gobbledygook in the computer-generated ratings.

Huh. I was just on M* a few weeks ago and still saw Q-symbols for a bunch of tickers. Maybe they were the last ones to go.
I strongly disagree with how they now term their AI-based 'analysis' as "Morningstar Manager Analysis" or something like that (I forget the actual title). The takeaway is, unless you see an (allegedly) real person's name on an article or analysis, it may well be computer-generated. DYODD, caveat reader, and all that.