friends say capitulation / could be as bad as 2008 or 2001 bubble+9.11.
Futures bright red - bloody
EU NASDAQ + EEM bears
SP500 DJI follow soon
probably holding patterns for 2-6 wks now/no buying
Prob keep holding big vehicles sp500 dji etf/soxl spxl +20s% bonds for short /medium terms

@Sven, Thanks for sharing. Not down that much - but after today … who knows? What a bloody mess. I track DKNG, but have resisted getting back in. Off almost 13% today down to $18.00. Here’s a stock that a year ago was around $75.00. My p/m miners appear to be up nicely today, but that’s about all - unless you count my 1 bear fund. RIO has been hot of late due to various metals shortages, but got whipped today. Fears of a slowing economy - which the bond markets also appear to be pointing to. Yes, D&C’s equity funds have held up relatively well.

We still remember the gas shortage in the 70’s. My daughter has a Civic hybrid which has been a reliable and fuel efficient car. We drive 10+ year old Civic and Odyssey where we organize our shopping in order to minimize gas expense. Cannot understand how our neighbors who drive large SUV’s.
We made changes last fall following @lynnbolin articles. Rotated from tech/growth to value and defensive funds, trimmed EM exposure (thanks to Professor Snowball) and built up commodity funds to fight inflation. Wish we have more commodity exposure. Even with PRWCX, it is still down 5.5% as of last week. D&C balance fund is leading the pack this year. Think they are shorting the stock portion of the fund. Also First Eagle Global is down a fraction of that of global allocation funds.

Hybrid vehicles have improved considerably in the last 15 years. They are now in the 5th or 6th generation with improved battery life and reliability. My neighbor has a Prius that gets over 40 miles per gallon on average and it is so quite while operating. Once the chip shortage is solved, the pricing will return to normal.

Please provide links.
Press Release
Unfortunately statements like these refer to the clearing house, not the introducing brokerage. You have to know which clearing house your broker uses. Even then, your broker may not sell everything that it could through the clearing house.
Pershing clears for hundreds of brokerages, mostly wealth management advisers. Here's a list of 400 of them.
Two questions for anyone using T. Rowe Price brokerage:
- why?
- does it offer PMEFX? It uses Pershing as its clearing house.

Lot of the old M* pages still work EXCEPT Quote tab, etc and old Chart tabs don't allow multiple charts anymore. Particularly, the Purchase tab works. In the page links below, change tickers in the URLs only, do not use Search box and do not click on Quote tab (that will take you irreversibly to new pages).
https://community.morningstar.com/s/feed/0D53o00005E8h5tCAB

Another seriously RED U.S. evening, 11:50pm, Sunday
Global equity futures
FINVIZ futures, various markets
Sidenote: I've watched gasoline futures for a number of years, and generally; our area finds retail pump prices to be +$.70/gallon above the futures price.
I.E., $3/gallon futures price would = $3.70/gallon retail, more or less.
The current futures price is $3.81/gallon as of this write.
This should translate to $4.51/gallon retail, locally. I purchased gas this afternoon at $3.89/gallon. This is the highest price for the last month, and increases have been small increments, but not in line with futures pricing.
I know there can be many variables to pricing in any given area.........strictly a local observation.
Fingers positively crossed, for the world,
Catch

https://www.straitstimes.com/business/companies-markets/oil-prices-soar-above-us135-on-latest-in-russia-ukraine-war-delay-in-iran-talks
Weren’t they giving it away less than 2 years ago?

@fred495 - I used Fidelity btonresearch the fund because M* had very little usable info. I also looked at the funds website. On Fidelity's quote/trade page the name of the fund was followed by the word FEE in red letters. That's all I know.

Listing: https://streeteasy.com/sale/1588857
Checking prices for houses on the market in the neighborhood (there are seven), shows its price per sq ft ($2,352) to be at the high end. Others are: $1748, $1665, $1999, $2117, $1234, and $1,372. Still, you get 8500 sq ft. But it doesn't seem to include keys to Gramercy Park.
One could pay 90% of the price ($18M) and get a condo in the same neighborhood that has only half the space (4207 sq ft). Now doesn't that make the $20M townhouse sound like a bargain? :-)
https://streeteasy.com/building/18-gramercy-park/10

"Management companies [mutual funds] usually are structured as corporations or trusts."
https://www.sec.gov/investment/fast-answers/divisionsinvestmentinvcoreg121504htm.html
Thus:
- Corporations as well as trusts may be used as "umbrella structures":
- Funds are investment companies so they must have a company structure, usually a corporation or trust, even if the structure is not for the purpose of providing an "umbrella"
Holding multiple funds (series) in a single trust or corporation is usually on balance advantageous, but there are some small negatives (cross fund liability exposure and administrative overload) as well:

Series funds are subject to the theoretical risks of being liable for the debts of other funds. [See Section III(B)(3)(b-d) in cited source, below.] There is little or no other advantage to offering a family of funds with a separate legal entity for each fund. Multiple legal entities inevitably require duplication and expense resulting from separate governing boards, periodic reports, and other regulatory filings. However, maintaining too many series in the same entity can cause administrative difficulties in handling board meetings and preparing and filing shareholder reports and registration statements, which are usually on the same schedule for all series. Thus, many fund sponsors with a large number of funds use several series companies, each containing several series, and often having different fiscal year-ends.

https://files.klgates.com/files/upload/dc_im_03-organizing_mutual_fund.pdf

As Charles has noted before, the MFO Premium screener defaults to a fund's oldest share class, which is often its institutional class. With up to 18 different share classes being offered by some firms, it's a mess to sort through to find the class most appropriate for individual investors ... especially those using Platform X. So we start with "good manager / good strategy / default share class" and assume that if you agree with us on the first two, you'll probably figure out the third.
In my case, anyway, I do tend to filter out funds for which no plausible access exists for individual investors: DFA, GMO (love the $500M minimum on one of the classes), and so on.

Guys, c'mon, yes, kind of silly the article's comment about Canada...the author was trying to make a point..I wasn't following it closely but wasn't there talk or actual action of freezing bank accounts etc with the trucker protest...that is what I beleive the author was referring to...who decides what is proper, and who decides and has the power to freeze, confiscate, sanction your wealth outside of exisiting norms/laws? FWIW, I am dual citizen, born in Canada.
To the point of Old Joe's interest of common good, which I completely agree with....does remind me when I moved into my new neighborhood and was talking to a neighbor about the HOA and rational thinking...he told me with a smile, "I believe your thinking is rational as long as it agrees with mine"
How does it work with Bitcoin though...don't you have to declare and pay taxes on it? Is the question how does the gov't prove it, no 1099 etc, so some are not paying taxes on it? I don't hold any so I don't know, but my CPA did ask me if I held any the other day when prepping taxes.
Curious as to if the class would be ok with a US Dollar digital currency? I do know many who would not be comfortable with that. I dunno.
Best,
Baseball Fan

* Hello, again, @Baseball_Fan.
I sense a bit of consternation in your words. Doesn't sound to me like you're evil. You were just offering something. As you can tell, those that replied do not think much of it!
Canada, eh? I used to go visit every year. Haven't been there since '18. Best friend is still there, in the Kootenays. in a previous lifetime, before one or two big decisions in another direction, I was headed for permanent residency in the Southern Interior of BC, too.
Yes, some of the Canadian Idiot convoy to Ottawa had their assets, bank accounts frozen. With the Common Good in mind, any gov't has the right to take measures to stop and prevent such silly behavior. Completely justified. Regulations to address and confront the Covid are good and necessary. Those Truckers were having a childish tantrum. It cost the Ottawa police chief his job. Even the PM went into hibernation because he was exposed, or caught the Covid himself. I've had it and survived. (Double vaxed and boosted.)
What SHOULD be behind such steps by gov't is what has not been explicitized in this thread. I've mentioned it only once, in passing: ethics. What does The Good require? Obviously, individual rights must be protected. But as Mr. Spock asserted more than once: "The needs of the many outweigh the needs (or desires) of the one."
The Canadian Idiot Trucker convoy is Exhibit A as to why the Covid threat is not substantially behind us yet. I know NURSES who refuse to get vaxed. That's a special kind of stupid. And with ETHICS in mind, how can such nurses be permitted to care for patients, unvaxed? They are exposing the very people they're supposed to be helping to a big risk. The way to reduce that threat ALMOST completely? Vaccination. Duh.
Bitcoin and the other iterations of crypto are still evil and treasonous. Governments are supposed to serve their people. When they allow such a work-around to live and grow and function, they stop serving their people. LOTS of shit is perfectly legal, yet perfectly UNETHICAL. That's nothing new. Good thing I'm not in charge. Heads would roll.
Rogers Pass picture, near Golden, B.C.

Available at Schwab/$49.95 fee

PMEFX appears to require direct investment with the fund family, as the fund is unavailable at the 5 brokerages I checked.

The Corcoran Group Australian writer and director Baz Luhrmann and his wife and creative partner Catherine Martin are listing their New York home, a 19th-century townhouse with a bold, colorful interior, for $19.995 million. The 28-foot-wide Gramercy area property dates to the 1850s and has views over Stuyvesant Square, one of the city’s oldest parks. Anglo-Italianate in style, the house has stately proportions, with four rows of round-arched windows, a paneled cornice and a patterned cast-iron balcony that runs the width of the house. Mr. Luhrmann, director of films including “The Great Gatsby”and “Moulin Rouge,”and Ms. Martin, a costume designer and his frequent collaborator, purchased the property for their family for $13.5 million in 2017 and completed a multiyear renovation project. New Yorkers for over a decade …
They had planned to live there full-time, but the pandemic threw a wrench in the works, keeping them on the Gold Coast of Australia, where they have been their two children have reached around college age and the couple is on the verge of becoming empty-nesters. “We just thought, ‘This is ridiculous.’”Ms. Martin said of their decision to list the home. “The house has been empty for nearly three years. And somebody should be enjoying it. But it’s breaking our hearts.”It isn’t the first time the couple, who have a passion for historic homes, have been reluctant to sell a piece of real estate even long after it was practical.
Excerpted from: The Wall Street Journal - March 4, 2022
Article: “Baz Luhrmann to List Manhattan Townhouse for $19.995 Million” by Katherine Clarke

Hello @Bobpa. I've owned it for about a year. Fit the bill for me. I wanted a balanced small cap fund and this was really one of the only funds I found that fit that description.
As baseball fan mentioned, it does carry some large stocks too, but 75% of it's equity holdings are in micro to mid cap stocks There aren't many small cap balanced funds out there to choose from. At least that I could find. I heard of this one, PMEFX, here at MFO, maybe from baseball fan. I don't remember.

Pretty messy for sure. Just reviewed our holdings and Russian stock exposure is quite small in our already small EM funds. Pimco Income, PIMIX holds 1.5% Russian bonds. This week it loss over 2%. What about those who own EM local currency bond funds, and will those Russian debt goes to zero?

Here’s an extended excerpt from the March 4 print edition of The Wall Street Journal. Article by Justin Baer
Excerpt:
Russia’s invasion of Ukraine has created a conundrum for U.S. investment firms, pressuring them to unload Russian securities when the country’s stock market is closed and foreigners are blocked from selling shares there. In response to sanctions and other steps the U.S. and other countries have taken to punish Russia, the Moscow exchange suspended stock trading every day this week through Thursday. Russia on Monday banned brokers from selling securities owned by foreign investors.
Some U.S. money managers with Russian securities held in funds that focus on emerging markets are worried that their investors will pull money over concern about their Russian exposure. If they can’t sell Russian shares to meet the demand, funds could be forced to deplete cash on hand or sell other assets. That could deliver a double whammy for emerging-market managers: a reduction in the share of their funds in liquid assets that coincides with an increase in the weightings of their Russian holdings.
Some firms are thinking about asking the Securities and Exchange Commission for relief from a cap on the proportion of illiquid securities that funds can hold—currently 15%—and from rules governing redemptions, people familiar with the matter said. An SEC spokesman declined to comment. BlackRock Inc. is one of several money managers that have had informal discussions with SEC officials on the challenges they face and ways in which the pressure could be alleviated …
U.S. mutual funds and exchange-traded funds owned more than $71 billion in Russian equities and bonds at the end of January, according to Morningstar Direct estimates. Clients of some mutual funds that hold Russian stocks and bonds pulled more money than they added last month. Net outflows from Invesco Ltd.’s Developing Markets Fund, whose Russian stocks accounted for 7.9% of assets at year-end, totaled about $348 million in February, according to a preliminary estimate compiled by Morningstar Direct. Harding Loevner’s Institutional Emerging Markets Portfolio fund, with more than 8% invested in Russia at the start of February, had outflows of $221.6 million, Morningstar Direct said.

Yup @Bopa, I'm in and have been for a while.
I've watched the snippets of Cipollini III the fund mgr, formerly one of the fund mgr's of Berwyn Income and like what I hear. Rational thinking, talks to picking up holdings during volatility in the markets...I know he would make better decisions than me during the frequent market schmeissings, the fund allows me to stay invested during the large downdraft days. I also like that he is I'm guessing 15 years or so younger than me so I'm thinking I can hold this one as I get older, maybe?
Stock portfolio portion is balanced between small, mid, large stonks, some intl stocks, def value stocks, real balanced between categories meaning defensives, cyclicals, market senstitive segments.
I think he was in something like 20% cash going into 2022 which likely assisted the positioning of the fund.
Someone here did mention the co-port mgr, Saylor left the fund several months ago?
This one, HSAFX Hussy and PVCMX Palm Valley have been some funds that have allowed me to stay invested over the past few months.
I do remember when he was running BERIX few years back, there was a posted brochure on their website that going back 10 years, drawing down THE 4% every year, the BERIX fund then co managed by Cippollini III, actually increased in value even when accounting for the withdrawls. Maybe he can make that happen here too?
FWIW, from my perspective, it's a keeper, YMMV.
Good Luck to All,
Baseball Fan