July 15 Episode

Discover investment opportunities in this field through the expertise of Lucas White, Lead Portfolio Manager of GMO’s successful Climate Change Strategy. With the impressive performance of GMO’s Climate Change Fund, which beats its benchmark and boasts 12% annualized returns, investors gain exposure to companies combatting climate change and adapting to its effects. White shares insights on the fund’s unique approach and discusses his journey in launching it.

PRWCX is NOT closed. I purchased TRAIX which is the institutional form of prwcx last week at Firstrade which has a minimum of $ 100. to purchase. Sorry ,but not a myth! If you have an account with them you would have to look it up in your account. It is also NTF.

Thank you for confirming not only that Firstrade says that one can buy TRAIX (which I have verified via a defunct account at Firstrade), but that one can actually buy shares there (which I can't test out).

By the way I have owned PRWCX in another account for at least a decade but will hang on to it , so I do not have to pay the capital gains if I sold it at this time. Will just keep adding to the new TRAIX position.

Have you looked into the possibility of transferring those shares in kind to Firstrade and having them execute a nontaxable conversion into the cheaper TRAIX shares?

PRWCX is closed to new investors, so I don’t know why people keep recommending it.
A few reasons:
1. It serves as a benchmark
2. It may be open to investors in 401(k) or other employer-sponsored plans that include it as an option
3. It is open to "mass affluent" investors (see below).
4. Some people own shares and are interested in how the fund is doing (is it a buy?).
Supposedly there are round-about ways to open a new account, but I view that as a myth.
Fund companies reward account size, not longevity. Vanguard opens some of its closed funds to Flagship ($1M+) customers. Artisan allows shareholders who hold more than $250K in its funds to buy into closed funds like ARTKX (see statutory prospectus). Similarly, T. Rowe Price allows investors holding more than $250K at TRP to invest in its closed funds, via its Summit program. This program replaced its Select Client Services in 2021. These "back doors" are not myths.
In a way, you were right to wait for TRP to partially open its closed funds. Around the end of 2020 T. Rowe Price reorganized itself in part to give it greater capacity. Not long after, it made its closed funds available to some investors.
Maybe you left before TRP sent out the memo. Or maybe, in splitting assets across institutions, you maintained only a toe hold at TRP. Whatever. Time is not what matters. I've had assets at Fidelity since before I was born (parents set up a UGMA account with really old fund shares). Yet Fidelity doesn't even offer me a free copy of Turbotax.
TRP's brokerage was always an adjunct to its fund business - offered as a convenience to its fund investors but not its mainline business. (A $35 fee each way on TF funds and a six month holding period is not competitive.) So it's not surprising that you would find Fidelity a better platform for securities aside from house funds.
Good luck with TCAF. It's not a clone of PRWCX - simply by its nature as a pure equity funds I expect it to outperform over time with greater volatility.

PRWCX is NOT closed. I purchased TRAIX which is the institutional form of prwcx last week at Firstrade which has a minimum of $ 100. to purchase. Sorry ,but not a myth! If you have an account with them you would have to look it up in your account. It is also NTF. This post was made for those who might be interested in purchasing this fund. By the way I have owned PRWCX in another account for at least a decade but will hang on to it , so I do not have to pay the capital gains if I sold it at this time. Will just keep adding to the new TRAIX position.

Hi guys. I am posting this because YBB is a member of your investment community. YBB became ill about 10 days ago and has pneumonia. If you are the praying type please keep him in your prayers. Old_Skeet

@FD1000 I have been reading that you are a proponent of 3-line break. What is it telling you today regarding ORNAX and NHMAX? Please don't come back in three weeks and tell us what it told you on 7-14-23.

mmm...so you want to learn but over the years you weren't so nice.

Racq wants to learn too, and he has been very nice to you.

No problem, Racq can contact me and I will be glad to explain it. You trashed me before too.
No more posts from me on this thread.

Like I said, perhaps this time in more colorful terms, if you're asking FD to publicly state something prospectively about the markets or his secret sauce strategies and/or holdings, settle into your favorite armchair and pound salt.
It just simply ain't gonna happen. EVER!
Because that alone would blow his cover.
Nice try though @mona!

14 july, 2023. Bastille Day.
https://www.bloomberg.com/news/videos/2023-07-14/-bloomberg-real-yield-07-14-2023

@WABAC

Is it an insurmountable burden for a young man working three jobs to potentially deal with taxes on capital gains if he gets past a certain income at some point

Thus, enter the ROTH IRA, eh? At least some burden reduction.

Excellent. El primero. First thing I did with #1 child after liquidating the UGMA. Next thing is making sure she has year 2 contribution ready to go.
Many of us are advising our children. Many of us may have more, or less, information, experience, education, wisdom, to pass on. One of the reasons this thread persists despite the original concerns of the OP.
Same goes for the grandson thread.
What to do? What to do?
Well. You can't do much more than the person you're "helping" is ready to accept in one sitting. Pay careful attention to eyes glazing over.

At some point the perfect becomes the enemy of the good. Finding something that suits the investor described may not match up with "best" solutions. There is no guarantee that more, or professional, advice will "remedy" the situation given the druthers of the parties involved.
Is it an insurmountable burden for a young man working three jobs to potentially deal with taxes on capital gains if he gets past a certain income at some point, when the alternative is a money market fund?
Maybe somebody out there has the numbers on paying 15% on cap gains versus returns on a money market, or numerous other vehicles the beneficiary, or his benefactor, have varying interest in pursuing.

Hi @Junkster
You noted about overbought bank loans. Peeking about, relative to the RSI 14 day theory, with a RSI under 30 being oversold and over 70 being overbought; this is a rare view chart. The chart is for the etf MINT, Pimco Enhanced Short Maturity Active managed.
The chart is set at 3 years and one can see the period of no love and then the rise when the FED started doing the rate rise. YTD is 3.25%, with a SEC yield of 5.44%. A very uncommon chart in my experience. Current RSI above 93 and holding. Yow !!!
Remain curious,
Catch

The institutional form of PRWCX is TRAIX and is available for purchase at Firstrade with a $100 minimum.

Thanks for letting me know. Firstrade did not serve me well in days gone by.

The institutional form of PRWCX is TRAIX and is available for purchase at Firstrade with a $100 minimum.

@WABAC : I held this MF for a number of years in 401-K until it was sold due to moving into IRA. 10 year holding & a winner for sure !

Don't have to start taking IRA distributions for 6-7 years. So I'm hoping it can be an equity cornerstone in that part of the market as I condense the holdings.
But I can still go crazy with the taxable. :)

Prospectus update :
https://www.sec.gov/Archives/edgar/data/923184/000119312523187267/d522100d497.htm

https://www.sec.gov/Archives/edgar/data/1199046/000158064223003676/nightshares497s.htm
497 1 nightshares497s.htm 497
NightShares 500 ETF (NSPY)
NightShares 2000 ETF (NIWM)
(each a series of Unified Series Trust)
Primary Listing Exchange for the Funds: NYSE Arca, Inc.
Supplement dated July 14, 2023 to the Prospectus and Statement of Additional Information (the “SAI”) dated May 18, 2022 and Summary Prospectuses dated May 18, 2022
The Board of Trustees (the “Board”) of Unified Series Trust (the “Trust”) authorized an orderly liquidation of the NightShares 500 ETF and the NightShares 2000 ETF (each, a “Fund” and together, the “Funds”), each a series of the Trust. The Board determined on July 14, 2023 that closing and liquidating the Funds was in the best interests of the Funds and the respective Fund’s shareholders, following a recommendation by the Funds’ investment adviser, AlphaTrAI Funds, Inc.
The last day of trading of Fund shares on NYSE Arca, Inc. (the “NYSE”) will be July 31, 2023 (the “Closing Date”), which will also be the last day each Fund will accept creation units from authorized participants. Shareholders may sell their holdings in a Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. Authorized Participants may redeem baskets of shares for a pro rata portion of a Fund’s portfolio on hand through the Closing Date.
The Funds are expected to cease operations, liquidate their assets, and distribute the liquidation proceeds to shareholders of record on or about August 10, 2023 (the “Liquidation Date”).
From the Closing Date (July 31, 2023), through the Liquidation Date (August 10, 2023), shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for the Funds’ shares during this time period. Between the Closing Date and the Liquidation Date, the Funds will be in the process of closing down and liquidating their portfolios. This process will result in each Fund increasing its cash holdings and, as a consequence, not pursuing its investment objective.
Shareholders of record remaining on the Liquidation Date will receive cash equal to the net asset value of their shares as of that date, which will include any capital gains and dividends as of such date. The liquidating cash distribution to shareholders will be treated as payment in exchange for their shares. The liquidation of Fund shares may be treated as a taxable event. Shareholders should contact their tax adviser to discuss the income tax consequences of the liquidation. Once the distributions are complete, the Funds will terminate.
For additional information regarding the liquidation, shareholders of the Funds may call (833) 648-3383.
This Supplement provides new and additional information beyond that contained in the Summary Prospectuses, Prospectus, and Statement of Additional Information and should be read in conjunction with those documents. The Prospectus and Statement of Additional Information have been filed with the Securities and Exchange Commission and are incorporated herein by reference.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

@Observant1 +1 for sure, speaker from experience.

@WABAC : I held this MF for a number of years in 401-K until it was sold due to moving into IRA. 10 year holding & a winner for sure !

@FD1000 I have been reading that you are a proponent of 3-line break. What is it telling you today regarding ORNAX and NHMAX? Please don't come back in three weeks and tell us what it told you on 7-14-23.

You either believe and use the 3-line break or don't. Sometimes it takes some nerve to do it.

FMIMX yahoo chart shows it at one year high !

It's a little less high at the close of today's market. :)
PE is at 13.68, book 2.36, price/cash 7.98, price/sales .84. Smids (which is the current weight,, rather than the category) have been out of fashion for a while. I think there's room to run a little bit.
I have a long horizon in the taxable, which is heavily tilted to dividends at the moment. It's a little less flighty than recently added RWJ and SYLD. Sort of a boring match for SPGP, also recently added.
I added FMIMX to the IRA on June 8. I might regret not adding it to the taxable sooner. We'll see how I feel 10 years from now.
BTW, FMIMX has been an MFO Great Owl for at least 25 years, IIRC.