BS1k flogging the same anti-lib stuff.
Whether lib, conserv, green, Martian or plaid: none of those labels matter when the Chief Exec. flagrantly ignores the constitution and creates havoc with tariffs. Achtung! Pass the Orange Kool-Aid, while we all just hide from the facts and worship at the Altar of Orange.
His coup d'etat continues apace. The USA's standing on the world stage is already greatly diminished. Trade partners have already begun looking for other, reliable, partners to buy and sell with. Meanwhile, people are disappearing and being detained or sent to the El Salvador gulag simply for disagreeing with the current Orange regime. I just read that some students at Univ. of Hawaii are among the latest to have their visas revoked. So much for the Rule of Law... Can you say, "Brownshirts?"
https://en.wikipedia.org/wiki/Sturmabteilung

@larryB - We’ve held Wellesley for over 10-yrs and did well until the Fed raised rates. Prior to retirement we simply continued DCAing into investments like VWIAX. But I didn’t have a mindset allowing me to move our Wellesley investment elsewhere. So your concern about those long duration bonds is valid.

And at that level, one would think he has to be wondering,
"Does he mean my level or my friends?"

His huge ego will save him. Clearly, I must have been referring to his "friends" that ran off (escaped?).
You can always trust BS1000. Pearls of wisdom from MAGA-land.

At David. I have lots of respect for Romick and I hold lots of Cash too. . I don’t need to pay 1% to hold my cash.

Agree with all your points except the 4% cash return cause the high ER. 1% Is a lot in an era of subdued returns. I keep looking at Wellesley but the long duration scares me.

@larryB - I get it. I used to ignore active funds; then funds with er’s over .5%. Now in retirement I find I want an active fund manager(s) to conservatively manage a part of my investment. FPACX’s data is compelling:
- ~60% in equity (Domestic & International) even though our portfolio only holds 35% in equity
- all 3 managers eating their cooking to the tune of $1m+
- 5-yr upside/downside capture ratio 116/81 (pretty good blood pressure)
- top ranked returns 3 of last 4 years.
- and cash right now paying over 4%, I like that they’re looking to invest in their best ideas.
So for now, I’m looking to continue investing here.

@Level5,
RCTIX portfolio managers have really decreased CLO exposure.
Prior RCTIX Fact Sheets showed the following CLO allocations.
The February 2022 Fact Sheet is the latest one in my possession
since I exited the fund after George Jikovski left abruptly in 2022.
12/31/2019: 30%
06/30/2020: 14%
12/31/2020: 8%
06/30/2021: 11%
12/31/2021: 18%
02/28/2022: 15%

Thank you Crash! The two brothers think politics can’t be connected to investment analysis but how could anyone make an investment in a new factory or invest more in stocks or bonds when the regime has no clue what the business environment might be tomorrow?

During Trump first time in office there were hundreds of posts from the same people and the American lib sources, including hundreds of "distinguished" economists, including Nobel prizes that soon our country goes to hell.
Until COVID 19 it was far from that. I have a couple of friends that were so scared they left the country.
It's all political BS.

@FD. Agree with you in that I want to know what do Monday each week. But with no certainty about government policy from one hour to the next,,, and no indication that the regime has a clue what it wants to do or is even connected to reality ,,, it is literally impossible to know anything. This applies to small investors ,, big investors, institutional investors and businesses of all sizes. The only folks who KNOW how to invest with any certainty are getting inside information from the regime.

This is your opinion, and several others on this board that keep posting similar posts daily.
Of course, the lib media keep feeding you what you want to hear too. After all, they are selling a product.
The previous administration had the biggest inflation in the last 40 years and 2022 was one of the worst for bonds but none of the same people and media freaked out and posted daily hundreds times about the end of American dream.
That time was much worse.
We are in a transition time until things will settle. It will take months to resolve the unfair tariff practices.
In his term Trump asked the NATO countries to increase their defense budget, they all laughed and dismissed it until he told them the USA will defend them and they increased their budgets.
I could be wrong but no one else achieved it.
TDS is a major lib illness.
What can you do now
1) stop reading the same sources that claim the US is close to destruction.
2) most investors should hold their asset allocation according to their goals and hardly trade.

@Observant - RCTIX is showing a 1% allocation to CLOs as of March 31, 2025.
https://www.rivercanyonfunds.com/wp-content/uploads/2023/09/RCTIX-Fact-Sheet-03.31.25.pdf

@yogibearbull
Thank for sharing this CLO information.
In recent years, I considered investing in a dedicated CLO fund¹.
CLO funds with high credit ratings offered greater yields than other bond funds with similar credit ratings.
Default risk was said to be low and apparently there were zero defaults for the nearly 7,000 AAA-rated
CLO debt tranches issued between 1993 and 2022.
The fact that the vast majority of CLO ETFs (13/16) were in existence for less than 3 years (inception dates listed below) gave me pause. Six CLO ETFs were introduced while the Fed was hiking interest rates
from March 2022 - July 2023. Since CLOs are floating-rate instruments, rate hikes are obviously advantageous.
It wasn't clear to me how CLO ETFs would react during certain less favorable market environments.
AAA (09/08/2020)
JAAA (10/16/2020)
JBBB (01/11/2022)
CLOI (06/21/2022)
ICLO (12/09/2022)
CLOA (01/10/2023)
CLOZ (01/23/2023)
CLOX (07/18/2023)
PAAA (07/19/2023)
PSQA (09/11/2024)
ACLO (11/15/2024)
PCLO (12/02/2024)
PCMM (12/02/2024)
NCLO (12/10/2024)
CLOB (12/24/2024)
BCLO (01/19/2025)
¹ For several years I owned RCTIX which often had a sizable allocation to CLOs.

Thanks for the article. I did not know why but after I held CLOs for over 1.5 years, I sold it several weeks ago because the price started going down.

LinkedIn https://www.linkedin.com/posts/steven-grey-ab163418_investing-stocks-bonds-activity-7317625015959519232-OMBC?utm_source=share&utm_medium=member_desktop&rcm=ACoAAFjCY6wBccxAhzfDGLCwSkfGL97DN413bHU

@Observant11, what I meant is that Matthews may liquidate all stocks if there is decreasing inflow $ to their mutual funds, and the cash will return to shareholders. This will need the board’s approval.
The other option is sell itself to another firm. Realistically, Matthews cannot run their business effectively when large number of fund managers and supporting analysts leaving the firm.
I have not look at their fund performance lately. In the heyday days, Matthews funds were frequently discussed on this board. It has been quiet for some time.

I bet Mr. Marks is 100% correct

In the past, the US encouraged foreigners to hold $s & invest in Treasuries.
OPEC is source of petrodollars.
When US-China relations were good, the former Treasury Secretary Rubin made several trips to China to convince it to buy US Treasuries. Rumors were that US TIPS were launched in late 1990s to address China's concerns about US inflation - other countries had TIPS for decades. Of course, now is different, & China is no longer #1 holder of Treasuries, & may soon be #3 (from current #2).

+1.

"Carney, Canada’s Prime Minister, wasn’t just sitting in Ottawa twiddling his thumbs. He’d been quietly increasing Canada’s holdings of U.S. Treasury bonds—over $350 billion worth by early 2025, part of the $8.53 trillion foreign countries hold in U.S. debt."
Carney's term as Canadian PM started only on 3/14/25.
Sure, he has connections as the former B.O.C and B.O.E Governor, but above seems a wild speculation.
But something strange is going on. Typically, when stocks fall, there is flight-to-safety into Treasuries and Treasury yields go down. But that isn't happening lately, so someone is selling lots of Treasuries to spoil the flight-to-safety phenomenon. Moreover, some flight-to-safety has been into German and Japanese bonds.

Thanks, @Observant1.

Michael Manelli, a comanager on OAKIX and OAKEX, will retire at year's end.
The following notes for OAKEX are from Morningstar Fund Investor (April 2025).
Our Take: Manelli is leaving unexpectedly in the prime of his career,
and his experience and investment acumen will surely be missed by the firm.
Manelli’s departure disrupts what was a clear succession plan for renowned investor David Herro.
Although Herro remains a comanager, he had delegated significant responsibilities here to Manelli and comanager Justin Hance, who will now take on an expanded role. Hance’s presence provides continuity:
He’s been with the firm since 2010, has 18 years of experience, and has been a comanager here since 2016.
Like Manelli, Hance has proved to be a savvy small/mid-cap investor under Herro’s mentorship and invests heavily in the offering.