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I really appreciate it, mfs. I had not looked at Part I of the SEC report. Glad I found mutualfundobserver.com!Pioneer Fund was founded in 1928 by Philip Carret as the Fidelity Mutual Trust (not on any list in the SEC study).
https://www.corporateknights.com/responsible-investing/a-short-history-of-responsible-investing/
On p. 735, both Loomis-Sayles Mutual Fund, Inc. and Loomis-Sayles Second Fund, Inc. appear. Only the "second" fund appears on p. 877's short list.
"Prior to establishing CGM, Mr. Heebner was at Loomis, Sayles & Company where he managed [CGM Mutual Fund], then known as Loomis Sayles Mutual Fund."
https://cgmfunds.com/cgm-docs/2021-12-31-mutual-annual.pdf
Likewise, on p. 738 is listed "Second Investment Fund of Security Management Co. (predecessor of Broad Street Investing Co., Inc., The)". Broad Street Investing Corp. was the name of Seligman Common Stock Fund prior to April 26, 1982.
https://www.sec.gov/Archives/edgar/data/14358/000001435800000002/0000014358-00-000002.txt
https://www.referenceforbusiness.com/history2/65/J-W-Seligman-Co-Inc.htmlNYTimes, October 14, 1929, p. 44The Security Management Company has presented to shareholders in its First and Second Investment Funds a plan for the combining of the two funds into a single corporation to be called the Broad Street Investing Company. It will be organized in Maryland with 500,000 shares of common stocks of no-par value. ...
https://www.nytimes.com/1929/10/14/archives/investment-fund-merger-security-management-plans-to-unite-two-in.html
There's a much more complete list of investment trusts and investment companies in Appendix A of Part 1 of the SEC study, starting on p. 114.
https://play.google.com/store/books/details?id=1CoWAQAAMAAJ
NYTimes, October 14, 1929, p. 44The Security Management Company has presented to shareholders in its First and Second Investment Funds a plan for the combining of the two funds into a single corporation to be called the Broad Street Investing Company. It will be organized in Maryland with 500,000 shares of common stocks of no-par value. ...
Here are a couple of threads that may help:
Oldest Mutual Funds Still in Existence (2019 thread)
Second Oldest Stock Fund Is As Nimble As A Teenager (2014 thread)
...
Much obliged, msf. I had seen the 2019 thread but needed to reread it (e.g., your history of the Scudder funds). The 2014 thread was also illuminating, this post follows up on it.
I am starting from the list of 36 open-ended companies in the 1939 SEC report (https://catalog.hathitrust.org/Record/010424070), Part 2, p. 877, Table 264 (if anyone is curious about this "survivorship bias free" list; it shows all open-ended companies with greater than $500,000 under management as of 1935. For reference, MITTX already had $81 million under management by that year, so many of these were tiny even for then).
The 2014 thread mentions the CGM, Pioneer and Seligman funds as among the oldest ten. But none of these names appears in the SEC list. Nor do any of these names appear in the 1946 Wiesenberger. So, sometime after 1945, three funds that were on the SEC list had a name change or were merged into another, per your discussion of Century Shares Trust. Or the way 'First Investment Counsel' (on the SEC list) became Scudder, Stevens & Clark, which I wouldn't have known without your post (Wiesenberger doesn't mention the older name).
Anyone know what the original names of the CGM, Pioneer and Seligman funds were?
Crypto advocates point out that Bitcoin has fallen by more than 50% eight times since its 2009 launch, and three times since 2018, and it’s recovered every time. And it’s been a top-performing asset class with better than 35% annualized returns over the last three and five-year periods and 80% annualized returns over ten years. In addition, an entire crypto industry has developed, which is expanding rapidly and being widely accepted by Wall Street, businesses, and some governments.
This week’s guest is a believer. He is Matt Hougan, Chief Investment Officer and former Global Head of Research at Bitwise Asset Management, a cryptocurrency asset manager founded in 2017.
I began the interview by asking Hougan about the role crypto assets play in a portfolio, considering they act like stocks.
I'm hanging on to my junk bonds TUHYX. And the bonds held elsewhere, like PRWCX and BRUFX. I'm heavier in stocks now, lighter in bonds. I exited PRFRX today and dumped all that into TRP Equity Income. PRFDX. It's full of the stocks I LOVE to HATE. But hell, you can't fight city hall. My single-stocks went on a rampage today. RGR. ET. BHB. And BHB just approved a stock buy-back plan: 5% of outstanding shares. At the moment: 73 stocks, 20 bonds.I know we're closer to the bottom that we were at the start of the year. Other than that, it depends on whether things are really broken or in only in need of a major tune up. I am currently doing a little tax loss trading and dribbling a few new dollars into stocks. But, not too many. The stock % in my portfolio is about what it was at the start of the year due to non-stock losses that have accompanied stock losses. This quote describes some of reasons for the current market uncertainties....“The disinflationary forces of the last quarter-century have been replaced, at least temporarily, by a whole different set of forces,” Jerome H. Powell, the Fed chair, said during Senate testimony on Wednesday. “The real question is: How long will this new set of forces be sustained? We can’t know that. But in the meantime, our job is to find maximum employment and price stability in this new economy."
https://www.sec.gov/news/digest/1997/dig042297.pdfA notice has been issued giving interested persons until May 13 [1997] to request a hearing on an application filed by Lord Abbett U. S. Government Securities Fund, Inc. (formerly American Business Shares, Inc.) for an order under Section 8(f) of the Investment Company Act declaring that applicant has ceased to be an investment company.
“The disinflationary forces of the last quarter-century have been replaced, at least temporarily, by a whole different set of forces,” Jerome H. Powell, the Fed chair, said during Senate testimony on Wednesday. “The real question is: How long will this new set of forces be sustained? We can’t know that. But in the meantime, our job is to find maximum employment and price stability in this new economy."
Next 5-yr TIPS auction will be on 10/20/22.Sorry for a naive question. I never bought Treasury bonds, and I missed this auction. Does it make sense to buy the same TIPS now at Fidelity without auction, or their price will be significantly higher?
https://morningstar.com/articles/1083759/why-are-so-many-commodity-funds-underperformingStrategy design heavily influences performance, too. Most commodity strategies aim to closely track a specific index--usually the Bloomberg Commodity Index--and add value by making small tactical tilts or actively managing the collateral that backs the futures contracts.
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