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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
  • Investing in 'Rule of Law' countries
    As long as we're discussing old movies with a theme, Z seems to be available for free. Haven't watched it yet to judge the quality on archive.org.
    I sure loved it way back when. I wonder how it holds up.
  • Buy Sell Why: ad infinitum.
    Sorry, I got the ticker wrong. NVDA is the top holding in GQGPX, Jain's emerging market fund at about 8% of assets. It is top holding in all of his funds but being a #1 position in emerging markets is interesting. I like the fund and he's make good moves regarding India vs. China stocks, etc. but I already hold a fair amount of NVDA so not the diversifier I'd prefer.
  • Investing in 'Rule of Law' countries
    @catch22
    Your post reminded me of a recent Wealth Track Show where the premise of life + liberty (rule of law) = higher long term investment returns.
    Perth Tolle created the Life + LIberty Indexes on the theory that democracy pays. Her Freedom 100 Emerging Markets Index is proof, trouncing its autocracy-heavy benchmark in its first five years.


  • Top Takeaways from Oaktree Conference 2024
    Thanks for the read. Makes me want to continue to plow into MMF. Hardly any risk, and a lovely yield. (5%+.)
    Still holding my junk.
    FALN yield = 7.14% but unsure when that figure was last updated. It's been sitting there for a long time. Morningstar. Damn ETF! So much more volatile. I'm grinning and bearing it.
    PRCPX. 7.01% yield.
    TUHYX. 7.41%
    And both of those latter funds are quite un-volatile. I like that, too.
  • Investing in 'Rule of Law' countries
    Haven't seen the play, but it looks like at least one production runs longer (2:25 + 15 min intermission) than the movie (2:00). That play running length is consistent with a 2008 production described in the NYTimes.
    To each one's own.
    ("Snappier" could refer to dialog differences, but "glacial" suggests speed.)
    https://www.shakespearenj.org/events/detail/a-man-for-all-seasons (see addl tkt info)
    https://www.rottentomatoes.com/m/1013162-man_for_all_seasons
    Saw it when it came out. Watched it again in the last five-ten years. Maybe I would enjoy the movie if I saw it again. I have also seen a competent stage production, and read the script.
    In this case glacial refers to all of the backgrounds and atmosphere the movie injects.There's no time for that in a stage production. The interaction between the characters speaking their lines has to carry the show.
    Or perhaps I miss the character of The Common Man who cuts through all of that stuff in a production of the play.
    Or maybe time, and a little history, has left me less enchanted with More all these years later.
  • Investing in 'Rule of Law' countries
    A Man for All Seasons: $8.50 DVD @ Amazon- closed captions & subtitles.
  • Investing in 'Rule of Law' countries
    Haven't seen the play, but it looks like at least one production runs longer (2:25 + 15 min intermission) than the movie (2:00). That play running length is consistent with a 2008 production described in the NYTimes.
    To each one's own.
    ("Snappier" could refer to dialog differences, but "glacial" suggests speed.)
    https://www.shakespearenj.org/events/detail/a-man-for-all-seasons (see addl tkt info)
    https://www.rottentomatoes.com/m/1013162-man_for_all_seasons
  • Investing in 'Rule of Law' countries
    To All - I’d like to withdraw my earlier request that the thread be moved to Off Topic. I made the comment in good faith thinking I was supporting @BaluBalu’s “Yes” response to @Derf’s question as to whether the thread should move to OT. My comment posted at 2:17 PM and I believe my quote of @BaluBalu was accurate as of that time. But, as you can see, he amplified / expanded on that initial “Yes” with an “Edit” at 4:12 PM. So I erred in thinking I was lending support to him. No problem. I believe in free speech. Was just trying to back up a fellow colleague’s viewpoint, but ended up getting caught in the crossfire. So no objection and apologies to @Catch22.
    Umm … My largest foreign holding, based in Switzerland, unfortunately did not benefit from today’s SC decision and related turmoil. Took a good hit. My infrastructure fund, however, mostly concentrated acrosd Europe gained a bit.
    Sounds like a good movie @msf. And @Derf I can understand if you have less stressful things to partake of. Myself … got a couple $$ riding on the Mets who are facing the Nationals on ESPN tonight.
  • Investing in 'Rule of Law' countries
    A fine choice indeed. We'll have explore to find where this movie now resides in the world of 1's and 0's,
    Ah, found it in HBO library for $3.99 rent. Much cheaper than a hamburger, so TIS a good deal.
    It's free on Cinema Box (thank you Roku search).
  • Investing in 'Rule of Law' countries
    Yes, Mitch created this mess, and I hope he rots in his grave soon.
    Many ordinary folks don't realize that Trump facilitated this far-right SCOTUS fiasco. He and Mitch were quite the team. American democratic values mean nothing to these maniacs.
    The "best" part is the life-tenure of a Supreme Court judge.....who also appear to have immunity. The scales are tipping. Its happening in our lifetimes, as those in power go unchecked. If laws mean nothing, the system may eventually crumble.
    Will the US economy remain #1? Could Trump as dictator, along with the current SCOTUS and a far-right tilted justice system, tear this country apart? Stay tuned. I didn't think they could ever overturn Roe-Wade, and send us backwards. But it happened.
  • Investing in 'Rule of Law' countries
    @msf A fine choice indeed. We'll have explore to find where this movie now resides in the world of 1's and 0's,
    Ah, found it in HBO library for $3.99 rent. Much cheaper than a hamburger, so TIS a good deal.
  • Savita Subramanian: large cap value is the place to be for the next five years

    Maybe any time an "expert" talks on TV, the host should pull out his/her record and challenge them. If they do that, no expert would show up and they would not have any shows. What a joke?
    The good news - This is not the same MME (Media Market Expert) I saw tanked up in the first class section of a plane recently. :)
    I didn't realize that FD flies first class..
  • Savita Subramanian: large cap value is the place to be for the next five years
    I bought DODGX on April 15, 1991. I'm well ahead of VFINX, if the charts at M* can be believed.
  • Investing in 'Rule of Law' countries
    +1.
    And by the way, today is Canada Day. It's not perfect up there, either, but it's nothing like the shit-show we are living through here, south of the border. I lived up there for about a year, many moons ago.
  • Investing in 'Rule of Law' countries
    Re, the markets. Friday and today there were several weaker than expected economic reports. Yet, 10 year bond yields rose quite a bit both days. Not what you would expect. Here’s a quote below from Citi’s bond guy on maybe why. Not to mention the Fed may lose their independence and/or Jerome Powell under a Trump presidency. Personally, have no use for either candidate. What ever happened to centrist politicians?
    “Post-debate, Trump seems to have received a meaningful bump,” writes Citi's Jabaz Mathai. “We think that yields will be at risk of continuing the move higher from this week on expectations of tax cuts and higher Treasury supply with a Trump White House, with any tempering effect dependent on economic data.”
  • Investing in 'Rule of Law' countries
    I haven't read the decision yet, but it sounds like a logical extension of "qualified immunity". That originally (1967) gave police immunity from being sued for violating people's rights if they were acting in good faith. It was extended (1982) to cover all public officials and now covers all acts unless an act in question violates clearly established law, even if the intent is malicious.
    Stop me if you've heard this before. Qualified immunity is justified because:
    • Officers and public officials need qualified immunity to carry out their jobs. ...
    • Removing qualified immunity could open up public officials and police to unwarranted lawsuits ...
    • Officers [and public officials] do not have absolute immunity ...
    https://supreme.findlaw.com/supreme-court-insights/pros-vs-cons-of-qualified-immunity--both-sides-of-debate.html
    It's not a perfect analogy, but it portrays a historical arc of increasing immunity for the government when acting in ways that are anything but very, very illegal.
    In Kisela v. Hughes, an Arizona police officer shot a mentally impaired woman four times as she stood “stationary” in her driveway holding a kitchen knife at her side. The record revealed that the seriously injured woman was “composed and content” and speaking with her roommate from a distance when the officer opened fire. In granting immunity, the Supreme Court held in 2018 that the officer had not violated “clearly established law.”
    In dissent, Justice Sonia Sotomayor, joined by Justice Ruth Bader Ginsburg, wrote that the “one sided approach to qualified immunity transforms the doctrine into an absolute shield for law enforcement officers . . . It tells officers that they can shoot first and think later . . . and it tells the public that palpably unreasonable conduct will go unpunished.”
    https://eji.org/issues/qualified-immunity/
    Getting back to the subject of this thread, the US is still moderately highly ranked (26/142) in 'Rule of Law', generally. Even higher (22nd) in Regulatory Enforcement. Though in both, the US is ranked below the Republic of Korea and the Hong Kong Special Administrative Region (SAR).
    https://worldjusticeproject.org/rule-of-law-index/global/2023/table
    Should we be looking more closely at the HK stock market?
  • Guinness Atkinson Renminbi Yuan & Bond Fund will be liquidated
    https://www.sec.gov/Archives/edgar/data/919160/000121390024057716/ea0208756-01_497.htm
    497 1 ea0208756-01_497.htm 497
    GUINNESS ATKINSON FUNDS
    GUINNESS ATKINSON RENMINBI YUAN & BOND FUND
    Supplement dated July 1, 2024
    to the Fund’s Prospectus and Statement of Additional Information (“SAI”) dated May 1, 2024
    The Board of Trustees of the Guinness Atkinson Funds (the “Trust”) has approved a plan to liquidate and terminate the Guinness Atkinson Renminbi Yuan & Bond Fund (the “Fund”). The plan of liquidation provides that the Fund will cease its business, liquidate its assets and distribute its liquidation proceeds to all of the Fund’s shareholders of record. Final liquidation of the Fund is currently expected to occur on or before August 20, 2024, but this date may be extended. Shareholders will receive liquidation proceeds as soon as practicable after the liquidation date.
    The Fund will cease accepting purchase orders and will be closed to all new and existing investors on July 3, 2024.
    As of July 3, 2024, the Fund will suspend the imposition of the 2% redemption fee on shares held fewer than 30 days.
    As the liquidation of the Fund approaches, the Fund will deviate from its investment objective, investment strategies and investment policies as set forth in the Prospectus and will instead engage in business activities to wind down the Fund. During this period, a larger portion of the Fund’s assets will be held in cash and similar investments in order to prepare for orderly liquidation and to meet anticipated redemption requests. This may adversely affect the Fund’s investment performance. The impending liquidation of the Fund may result in large redemptions.
    Shareholders of the Fund may redeem their shares at any time prior to the liquidation date. Shareholders remaining in the Fund may bear increased transaction expenses incurred in connection with the disposition of the Fund’s portfolio holdings. Any such transaction costs would reduce any distributable net capital gains. If a shareholder has not redeemed his or her shares by the liquidation date, the shares will automatically be redeemed, and proceeds will be sent to the shareholder of record. Liquidation proceeds will be paid in cash at the Fund’s applicable net asset value per share.
    The redemption of shares held by a shareholder as part of the liquidation generally will be considered a taxable event for Federal income tax purposes and may cause shareholders to recognize a gain or loss. Before the final liquidation, the Fund may make distributions of income and capital gains. These distributions will have the tax and other consequences described in the Fund’s prospectus and statement of additional information. A shareholder should consult with the shareholder’s tax advisor to discuss the Fund’s liquidation and the tax consequences to the shareholder.
    The dates set forth in this supplement may be changed without notice by the officers of the Guinness Atkinson Funds.
    INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
  • Investing in 'Rule of Law' countries
    Meaning of: Rule of Law
    Rule of law is a principle under which all persons, institutions, and entities are accountable to laws that are: Publicly promulgated. Equally enforced. Independently adjudicated. And consistent with international human rights principles.
    July 1, 2024, Supreme Court Justice Sotomayor
    “Never in the history of our Republic has a President had reason to believe that he would be immune from criminal prosecution if he used the trappings of his office to violate the criminal law,” wrote Sotomayor. “Moving forward, however, all former Presidents will be cloaked in such immunity. If the occupant of that office misuses official power for personal gain, the criminal law that the rest of us must abide will not provide a backstop,” she added.
    “With fear for our democracy, I dissent,” Sotomayor concluded.
    Sotomayor full text.
    --- Justice Ketanji Brown Jackson wrote in a separate dissent that the majority’s ruling “breaks new and dangerous ground” by granting immunity “only to the most powerful official in our Government.”
    She said that her conservative colleagues were “discarding” the nation’s long-held principle that no one is above the law.
    “That core principle has long prevented our Nation from devolving into despotism,” she said. “Yet the Court now opts to let down the guardrails of the law for one extremely powerful category of citizen: any future President who has the will to flout Congress’s established boundaries.”
    The liberal justice described the impact of the court’s ruling in dark terms, saying that “even a hypothetical President who admits to having ordered the assassinations of his political rivals or critics or one who indisputably instigates an unsuccessful coup, has a fair shot at getting immunity under the majority’s new Presidential accountability model.”
    “In the end, then, under the majority’s new paradigm, whether the President will be exempt from legal liability for murder, assault, theft, fraud, or any other reprehensible and outlawed criminal act will turn on whether he committed that act in his official capacity, such that the answer to the immunity question will always and inevitably be: It depends,” Jackson wrote.
    NPR Presidental immunity
    This SCOTUS ruling, at some point going forward; will apply to all U.S Presidents.
    One may argue that 'Rule of Law' for this country is going, going GONE. The term 'President' may be in name only, at some point in the future.
    One's investments may be affected going forward by U.S Presidential actions, more than ever before.
    Your November VOTE will be the most important of your lifetime.
    A HAPPY 4th of July.
    Respectfully,
    Catch
  • Vanguard Website
    Vanguard automatically closed my final account on Friday, June 28 (less than 14 days before I zeroed out the account), so I won't get charged a fee.
    However, on Saturday, June 29, Vanguard sent me a cryptic note saying only that "Your transfer has been cancelled." Since all the transfers had completed successfully, I had no idea what this was. Neither did Vanguard when I called them today.
    To add insult to injury, the "contact us" URL in the email was:
    hhttps://support.vanguard.com/ (note the double 'h')