+1.
I notice a lot of the same stuff. I was glad to buy a new vehicle, however, when we got here. Peace of mind, for a few years, anyhow. Yes, there are recalls all the time. We took ours into the dealer and the work was done for free. With our down-payment and a discount through a nephew who works at the place, we did good. Payments under $280/month at 1.99%. Nissan Sentra.
4cbe8441-9fdb-4aac-91f7-f82e0b589036(1).png
(That stupid link does not work. Copy a file and try to share it? A major stupid undertaking I'm unwilling to spend time on.)
I notice the daily take-out here everywhere I turn. Crazy fancy nails, too. Etc. Etc.

@rforno : Thanks for the reply. Exactly why I asked . Isn't the money for matured T-bill headed to bank & then back into T-bill on auction day? I'm guessing , that's why I questioned what you're doing .With one month roll, 12* 3 =36 (?) days of low interest.
Let me know how things workout.
Never to old to learn, Derf

https://www.sec.gov/Archives/edgar/data/1480207/000119312523215984/d505325d497.htm
DoubleLine Multi-Asset Growth Fund
DoubleLine Funds Trust (the “Trust”)
DoubleLine Multi-Asset Growth Fund (the “Fund”)
Supplement dated August 18, 2023 to the Fund’s Summary Prospectus (the “Summary Prospectus”), Prospectus (the “Prospectus”) and Statement of Additional Information (the “SAI”), each dated August 1, 2023
This supplement provides new and additional information beyond that contained in the Summary Prospectus, Prospectus and SAI and should be read in conjunction with the Summary Prospectus, Prospectus and SAI.
The Board of Trustees of DoubleLine Funds Trust has approved a plan of liquidation for the Fund. The liquidation of the Fund is expected to take place on or about October 31, 2023 (the “Liquidation Date”). Effective after the close of business on September 1, 2023, the Fund’s shares will no longer be available for purchase by new investors or existing investors (other than qualified plans). Dividend reinvestments (where applicable) will continue until the Liquidation Date.
The proceeds per share to be distributed to each shareholder of record on the Liquidation Date will be the net asset value per share of the relevant class of shares of the Fund less any required tax withholdings, after all expenses and liabilities of the Fund have been paid or otherwise provided for. For U.S. federal income tax purposes, the receipt of liquidation proceeds will generally be treated as a taxable event and may result in a gain or loss. At any time prior to the Liquidation Date, shareholders of the Fund may redeem or, subject to investment minimums and other applicable restrictions on exchanges, exchange their shares of the Fund for shares of the appropriate class of another DoubleLine fund (if available) pursuant to the procedures set forth under “Other Account Policies—Exchange Privilege” in the Prospectus.
In anticipation of the liquidation of the Fund, DoubleLine Capital LP, the Fund’s investment adviser, may manage the Fund in a manner intended to facilitate its orderly liquidation and the Fund’s portfolio may be reduced to cash, cash equivalents or other short-term investments on or prior to the Liquidation Date. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with the Fund’s stated investment strategies, which may prevent the Fund from achieving its investment objective.
The sale of portfolio holdings will result in the Fund realizing gains or losses, and the proceeds payable to shareholders will generally be subject to federal (and state or local, if applicable) income taxes if the redeemed shares are held in a taxable account and the proceeds exceed your adjusted basis in the shares redeemed. The Fund may also make a distribution of undistributed net income or capital gains prior to the Liquidation Date.
If the redeemed shares are held in a qualified retirement account, your account may not be subject to tax withholdings if you take certain actions. For example, if you hold your shares in an individual retirement account (an “IRA”), you have 60 days from the date you receive your proceeds to reinvest or “roll over” your proceeds into another IRA to maintain their tax-deferred status and avoid any required tax withholdings. You must notify the Fund’s
transfer agent at 877-DLine11 (877-354-6311) prior to the Liquidation Date of your intent to roll over your IRA account to avoid the automatic deduction of tax withholdings from your proceeds. If you do not notify the Fund’s transfer agent of your intent to roll over your IRA account prior to the Liquidation Date, the Internal Revenue Service requires that U.S. federal income tax of 10% be withheld from your account proceeds, and your account may also be subject to state or local required withholdings. You should consult with your tax advisor on the consequences of the redemption to you and any actions you may need to take.
Please contact DoubleLine Funds Trust at 877-DLine11 with any requests for additional information.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
-2-
==================================================================
https://www.sec.gov/Archives/edgar/data/1480207/000119312523215986/d514005d497.htm
DoubleLine Real Estate and Income Fund
497 1 d514005d497.htm 497
DoubleLine Funds Trust (the “Trust”)
DoubleLine Real Estate and Income Fund (the “Fund”)
Supplement dated August 18, 2023 to the Fund’s Summary Prospectus (the “Summary Prospectus”), Prospectus (the “Prospectus”) and Statement of Additional Information (the “SAI”), each dated August 1, 2023
This supplement provides new and additional information beyond that contained in the Summary Prospectus, Prospectus and SAI and should be read in conjunction with the Summary Prospectus, Prospectus and SAI.
The Board of Trustees of DoubleLine Funds Trust has approved a plan of liquidation for the Fund. The liquidation of the Fund is expected to take place on or about October 31, 2023 (the “Liquidation Date”). Effective after the close of business on September 1, 2023, the Fund’s shares will no longer be available for purchase by new investors or existing investors (other than qualified plans). Dividend reinvestments (where applicable) will continue until the Liquidation Date.
The proceeds per share to be distributed to each shareholder of record on the Liquidation Date will be the net asset value per share of the relevant class of shares of the Fund less any required tax withholdings, after all expenses and liabilities of the Fund have been paid or otherwise provided for. For U.S. federal income tax purposes, the receipt of liquidation proceeds will generally be treated as a taxable event and may result in a gain or loss. At any time prior to the Liquidation Date, shareholders of the Fund may redeem or, subject to investment minimums and other applicable restrictions on exchanges, exchange their shares of the Fund for shares of the appropriate class of another DoubleLine fund (if available) pursuant to the procedures set forth under “Other Account Policies—Exchange Privilege” in the Prospectus.
In anticipation of the liquidation of the Fund, DoubleLine Alternatives LP, the Fund’s investment adviser, may manage the Fund in a manner intended to facilitate its orderly liquidation and the Fund’s portfolio may be reduced to cash, cash equivalents or other short-term investments on or prior to the Liquidation Date. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with the Fund’s stated investment strategies, which may prevent the Fund from achieving its investment objective.
The sale of portfolio holdings will result in the Fund realizing gains or losses, and the proceeds payable to shareholders will generally be subject to federal (and state or local, if applicable) income taxes if the redeemed shares are held in a taxable account and the proceeds exceed your adjusted basis in the shares redeemed. The Fund may also make a distribution of undistributed net income or capital gains prior to the Liquidation Date.
If the redeemed shares are held in a qualified retirement account, your account may not be subject to tax withholdings if you take certain actions. For example, if you hold your shares in an individual retirement account (an “IRA”), you have 60 days from the date you receive your proceeds to reinvest or “roll over” your proceeds into another IRA to maintain their tax-deferred status and avoid any required tax withholdings. You must notify the Fund’s
transfer agent at 877-DLine11 (877-354-6311) prior to the Liquidation Date of your intent to roll over your IRA account to avoid the automatic deduction of tax withholdings from your proceeds. If you do not notify the Fund’s transfer agent of your intent to roll over your IRA account prior to the Liquidation Date, the Internal Revenue Service requires that U.S. federal income tax of 10% be withheld from your account proceeds, and your account may also be subject to state or local required withholdings. You should consult with your tax advisor on the consequences of the redemption to you and any actions you may need to take.
Please contact DoubleLine Funds Trust at 877-DLine11 with any requests for additional information.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
-2-

What bothers me most is seeing people with low wage jobs spend gobs of money on overpriced trucks, cars and even coffee. One of our desk clerks drove a custom painted Ford F-150. Even back then with low interest rates, I cannot imagine how she afforded the payments. She could have gotten to work in a $1000 junker …

Good points. A terrific fella I knew growing up in the 60s held a higher level engineering job at Ford in Dearborn. Smart cookie. Knew his stuff. The most memorable thing I can remember him ever saying to me: “A new vehicle is a terrible investment.” I doubt many would quarrel with that. But it struck me as especially poignant coming from someone in the industry who could well afford to drive anything he wanted.
On the other hand … I do enjoy driving a newer vehicle with all the latest bells & whistles.
:)
The things many don’t consider adequately when contemplating a purchase are the financing costs and insurance costs, which typically increase with car value.

What bothers me most is seeing people with low wage jobs spend gobs of money on overpriced trucks, cars and even coffee.
One of our desk clerks drove a custom painted Ford F-150. Even back then with low interest rates, I cannot imagine how she afforded the payments. She could have gotten to work in a $1000 junker
My other example is eating out daily, or just buying a "latte". $5 a day, five days a week every week is $1300 a year. Won't send your kid to Harvard, but even today is is not small change. This was before tattoos and nail salons, but they are other examples

Thank you, @Mark One may buy 'cheaply' the book, 'The Millionaire Next Door'. Yes, income is very important, but so are spending habits. I will admit this book and its methods, don't help the ultra poor.

Quite right. You could have eighteen bazillion dollars and be foolish with it, and lose it all. That happens to celebrities often enough. I knew a guy who trusted his accountant TOO much. Never checked the 1040 for himself. He was beholden to the IRS for a helluva lot of money, over a period of years and years.
And if you're very poor, the savings and investment techniques which require the use of MONEY YOU DON'T HAVE are useless. But the school systems truly ought to be teaching financial literacy. Not in order to make students all excellent and talented capitalists. Yet, capitalism is the only game in town--- apart from a hybrid economic arrangement like they have in Scandinavia. (Where poverty and homelessness are not such a scourge, as in the States?) And people DO invest in Scandinavian countries, eh?

@rforno : What brokerage are you using to roll treasuries & what term ?
Thanks , Derf

Schwab.
I bought a 1-mo TBill at auction yesterday and it's set to auto-roll next month...first time I've done it at auction and also auto-roll, so I'm curious how it all plays out.
Other Tbills I manually roll myself if I'm not otherwise using the money ... I've been mainly sticking with 1-mo TBills just for flexibility.
Again, I'm not a bond person. I just hate giving Schwab .34ER for a MMF and then worry about buying/selling their fund each time I want to make a stock transaction. (Yeah, there are other ETFs available, I know...)

Not a bad idea to get off the FR/BL train soon. When rates stop going up, these act just as short-term HY from low-rated companies that cannot access the normal bond market. There is a recession risk too, but the is consensus that it has been cancelled. Bankrate is showing 30-yr mortgage at 7.40%, so at least the housing may be cooked.
BTW, Treasury 2-yr FRNs are different - they yield 3m T-Bill yield plus a spread; they reset weekly.

My research on FR/BL, has indicated they do well in "both" flat and rising interest rate environments. They performed very well for me in the from about 2010 through 2017, when rates hovered around zero for many years. They started struggling more when rate hike fears started getting serious in the 2018 and later years, and then like a lot of junk bond funds, they did not do well when bonds as a whole tanked in 2020, but as rates started rising rapidly after the 2020 crash, they started being one of the strongest bond oef categories. They may not perform as strongly now that rate hikes "appear" to be flattening out, and other bond categories may started performing better, but I am not in the camp that says FR/BL will not still offer some attractiveness. The real threat is if the FEDs start cutting rates, but as long as inflation is still relatively higher than the FEDs desire, I am not expecting any aggressive rate cutting actions. I am in the camp that we may bump around for the next year, without any strong rate hike or rate cut direction.
Just My Opinion, and I do not currently own any FR/BL funds, and haven't for a few years.

True, TIAA has SOME products for general public. But it keeps dropping many - LTCI, life insurance, etc. Some of its IRAs require TIAA-eligibility - some connection with TIAA due to current/prior job by self or close family members.
Likewise, there are Nuveen CEFs. Anyone can buy these through brokers. CEFConnect site is run by Nuveen/TIAA. Old Nuveen (Chicago) was bought by TIAA in 2014 and operates as a unit/subsidiary within TIAA. However, TIAA did start using the Nuveen name (only) for its entire asset/investment management - that confused people more.
https://www.cefconnect.com/
TIAA recently unwound its EverBank acquisition (2016-23). Will it sell/spinoff old Nuveen too? CEFs are far from mainstream TIAA lineup.

Nonretirement stuff at TIAA is only for those with retirement accounts that WANT to stick around for consolidation of accounts.
Fer sure, mostly. Though TIAA does have a product or two that some without retirement accounts might want to buy. I've mentioned TREA (one only has to be related to someone with a retirement account, not be a retirement account owner to be eligible).
Another is TIAA's vanilla deferred VA, "Intelligent Variable Annuity", especially if one likes Vanguard funds. Vanguard no longer offers its own VA - it outsourced it to Transamerica. The Transamerica VA has base M&E expenses of 0.27%. The TIAA VA charges 0.35% for $100K-$500K, 0.25% for AUM above that. While that may be initially a bit higher than Transamerica, the kicker is that after 10 years, the wrapper fees drop to 10 basis points.
The TIAA VA offers most of the same Vanguard and DFA portfolios as Transamerica, while also offering a variety of TIAA portfolios (obviously) plus portfolios from Franklin, Janus, PIMCO, T. Rowe Price and others. All are low cost share classes (as opposed to other providers like Fidelity that may offer the same portfolios with higher ERs).
Transamerica VA offerings (see p. 3)
TIAA VA offerings
Fidelity VA offerings (compare PIMCO VIT Real Return 0.77% admin class E/R with TIAA's 0.52% inst class E/R)
Not that these are for most people. Just suggesting that TIAA products are not only for those with existing retirement accounts at TIAA.

Poke me on Sept 1 and I'll give it a try (and also look at data available on other sites then).
That's giving my memory a lot of credit.
That's a bug in the screener. If it were a feature, it wouldn't show a fund category criterion. The tool fails to populate the category selections for all fund types, not just domestic funds. Whether that is a software bug or a data bug (Vanguard failing to supply the categories for each fund type) isn't clear.

It was working when I left. :).

You can snack here: https://www.etf.com/etfanalytics/etf-comparison/USFR-vs-TFLO

Nice, though its duration numbers (5.10%, 5.20%) are something else (yield?)

At the page for TFLO they show its duration as -0.02. So yeah, there's a screwup there. M* says 0, or .24 "modified," for the duration. VettaFi says ultra short. And Ishares says .01. Too lazy to see what MFO premium shows.
I do see that TFLO is not fully invested, which might explain the minuscule performance differences.

Try finding information on other funds at the beginning of the month at Vanguard.
Poke me on Sept 1 and I'll give it a try (and also look at data available on other sites then).
Try finding information on other funds at the beginning of the month at Vanguard.
That's a bug in the screener. If it were a feature, it wouldn't show a fund category criterion. The tool fails to populate the category selections for all fund types, not just domestic funds. Whether that is a software bug or a data bug (Vanguard failing to supply the categories for each fund type) isn't clear.
Similarly, Fidelity failing to include D&C in its screener's fund family selection box is a bug.
And the [TIAA retirement] choices are strictly limited.
On the retirement side investment choices are limited by what the employer plan (e.g. 403(b)) offers, just as they are with most employer plans. OTOH, your wife has access to TIAA Trad and TREA which are unavailable on the retail side. Access to TREA makes opening an IRA on the retirement side almost worthwhile.
I can't imagine opening a brokerage account there based on my experiences logged into my wife's account.
TIAA has undoubtedly one of the worst sites I've ever seen. Trying to find something like the annuitization rate for a specific Trad annuity is nearly impossible. Last time I tried I think it took me around an hour.
All that said, TIAA does seem to provide access to some appealing funds that are difficult to find (NTF and low min) elsewhere. I haven't done a detailed comparison with E*Trade to see if the latter has everything that TIAA has. It does offer GLIFX with the same terms as TIAA - NTF, $10K min.
But unless one has a TIAA account (and is willing to navigate its website), one will never know what's there. Stupidity, ineptness, but not malice by TIAA.

Observations:
1) USFR have a bit better performance than TFLO for 6-12 months, but for 1-3 months they are really close...according to M* chart.
2) In the last 1-2 months VMFXX lags a bit. Stockchart shows that but it's difficult to know how accurate it is when we look at 0.45-0.49 per month. (https://schrts.co/Vzbmzihk)
3) These are very mild differences that may change after next week.
YBB: In investments, not everything is long-term
FD: love it.

ETF.com duration numbers are NOT correct.
First, for securities that reset weekly, duration should be just 1 week.
Second, even if it calculated duration ignoring the weekly resets, a portfolio of 2-yr FRNs should have duration around 1 year. There is no way one can get 5.15%, 5.20%.

You can snack here: https://www.etf.com/etfanalytics/etf-comparison/USFR-vs-TFLO

Nice, though its duration numbers (5.10%, 5.20%) are something else (yield?)

Vanguard has an OEF/ETF comparison tool that gives similar performance and tax comparisons to the M* fund compare tool, though it lacks the risk (Sharpe ratio) and portfolio data (turnover, duration, etc.) comparisons of the M* tool.
https://personal.vanguard.com/us/faces/JSP/Funds/Compare/CompareEntryContent.jsp
Fidelity's OEF/ETF screener does a pretty decent job as well. It lacks MAXDD which is found on individual M* fund pages. The only risk ratio it shows is Sharpe ratio; likewise M* pages don't offer other ratios.
Fidelity screener comparison of USFR and TFLO
Fidelity screener results for ultra-ultra-short taxable bond funds/ETFs (0.02 year duration or less)

I noticed that Bank CD offerings at Schwab, are bumping up slightly with more banks offering 5.3% CDs for almost all periods of 1 year or shorter. 18 mo CDs are also bumping up slightly, but not quite to 5.3% yet. Longer than 18 months are not changing much yet.

Long-term performance of FRN ETFs is meaningless; during much of the ZIRP regime, they had negative spreads but spreads have been positive since mid-2022. FRNs have done well since 2022 because of the ZIRP regime being gone (first the expectations, then actual); the 3-yr or 5-yr views overlook these contemporary factors.
Look at StockCharts from 1/1/22 (I have also added an ultra-ST ICSH); USFR does have a small edge over TFLO (they track different indexes).
https://stockcharts.com/h-perf/ui?s=TFLO&compare=ICSH,USFR&id=p28096591213