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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.
  • Let the SS COLA Projections for 2022 Begin
    ...And yet, I just read that Medicare will eat the increase. Should have remembered.
    There's a lot of that notion going around. Let's walk through that.
    I did this relatively quickly - please check my math. Also see Disclaimer below.
    Looking ahead...
    If your gross SS is $15,000 annually, a 2022 5.9% COLA increases your gross by $885. If SS is $20,000, an increase of $1,180.
    No definitive word yet on the Medicare Part B increase for 2022.
    Looking back...
    In 2020, Part B increased 6.72% to $144.60 monthly from $135.50. Annually that was a $109 increase.
    In 2021, Part B increased 2.70% to $148.50 monthly from $144.60. Annually that was a $47 increase.
    So...
    IF the past two years are any indication, it is very unlikely, barring an extraneously high Pt B increase for 2022, that anyone grossing $15K-$20K annually will not be in a better net position is 2022.
    NOTE: Part D premiums are NOT considered here but would also affect net, if applicable, as would other variables, increase in Pt B penalty, etc.
    Disclaimer: Data provided by long-since retired auditor type whose calculation accuracy rate may or may not resemble his stellar rate from back in the day. Just sayin'.
    stillers stillers in Other Investing
  • PRWCX Cuts Equity Exposure
    I’ve looked at their site. Your list is accurate as far as it goes. But it appears Price lists fixed income holdings along with stocks in its publishec “portfolio” - with the following important exception:
    “Numbers may not add up to 100% exactly due to rounding and/or the exclusion of reserves and other assets. Excludes cash and derivatives.”
    So, the remaining 24.32% (not listed as part of the portfolio) likely resides in cash + derivatives.
    One way to check this is to call up the complete list of portfolio holdings using another TRP link: Scrolling down to Amazon, one of their larger equity holdings, reveals that it’s listed right along with a number of bond holdings inside that “portfolio.”
    https://individual.troweprice.com/staticFiles/gcFiles/pdf/phcafq2.pdf
    There’s also language (somewhere in all that) to the effect that fund holdings will be publicly available 30 days after the end of a quarter. That’s seemingly at odds with the 9/30/21 date Roy accurately cited. I’m inclined to think that 9/30/21 date is meant to reflect the latest publicly available accounting. Could be wrong on that. In any case, it isn’t germane to the larger issue explained above.
    hank in Fund Discussions
  • TRP Ultrashort Bond ETF Market Purchase Disallowed at Fido
    there’s a fee wavier which appears to drop the ER down to 0.29%
    As strange as this may sound, you're reading it backward. The gross ER is 0.29%, while the net ER, after accounting for fee waivers is higher, at 0.31%.
    This is because the waiver currently in effect says that the ER will be no higher than 0.31% including a clawback of previously waived expenses.
    If the current ER without waivers were, say, 0.35%, then 0.04% would be waived and the ER would be 0.31%. But the current ER without waivers is 0.29%. The fund management is thus allowed to take another 0.02% to get back fees it previously forwent.
    The clawback is limited to 0.02% because according to the fee waiver agreement, the net ER cannot rise above 0.31%.
    As the prospectus states: "Fees waived and expenses paid under this agreement (and a previous limitation of 0.35%) are subject to reimbursement to T. Rowe Price Associates, Inc., by the fund whenever the class’ expense ratio is below 0.31%."
    msf in Fund Discussions
  • TRP Ultrashort Bond ETF Market Purchase Disallowed at Fido
    +1
    carew388 carew388 in Fund Discussions
  • TRP Ultrashort Bond ETF Market Purchase Disallowed at Fido
    Just checked TRP’s funds page
    “30 Day Yield - Annualized Dividend” for TRBUX is given as 0.69% (not that I pretend to understand all the jargon). Interestingly, there’s a fee wavier which appears to drop the ER down to 0.29%. The ER on TBUX (the etf ) appears to be 0.17%. Seems to boil down to choice of either a 0.69% or 0.81% annualized yield (based on a 0.12% difference in ER).
    T. Rowe Price / LINK
    -
    Fido’s “deferred” ntf fees being what they are does complicate matters. Can’t just buy TRBUX one day and than switch to TBUX the next. I certainly understand @carew388’s frustration.
    hank in Fund Discussions
  • PRWCX Cuts Equity Exposure
    If I'm interpreting portfolio data correctly from the TRP website dated 9/30/21, PRWCX equity allocation has increased to 75.68%.
    Sector Allocation
    As a percentage of Total Net Assets
    As of 9/30/2021
    INFORMATION TECHNOLOGY
    14.33%
    HEALTH CARE
    13.58%
    CONSUMER DISCRETIONARY
    10.58%
    FINANCIALS
    10.28%
    UTILITIES
    7.19%
    INDUSTRIALS & BUSINESS SERVICES
    7.04%
    COMMUNICATION SERVICES
    5.97%
    OPTION
    4.48%
    CONSUMER STAPLES
    1.92%
    ENERGY
    0.18%
    REAL ESTATE
    0.13%
    Top 10 Holdings
    MonthlyQuarterly
    Represents 38.51% of Total Net Assets
    As of
    9/30/2021
    Microsoft
    7.02%
    Amazon.com
    5.51%
    GE
    4.48%
    PNC Financial Services Group
    4.03%
    Yum! Brands
    3.16%
    Thermo Fisher Scientific
    3.11%
    Alphabet Class C
    3.08%
    UnitedHealth Group
    2.98%
    Marsh & McLennan
    2.70%
    Humana
    2.43%
    Roy in Fund Discussions
  • TRP Ultrashort Bond ETF Market Purchase Disallowed at Fido
    +1
    carew388 carew388 in Fund Discussions
  • TRP Ultrashort Bond ETF Market Purchase Disallowed at Fido
    OK, with a search I did find the following info from Ameritrade. It apparently deals with margin purchases, which I never even consider, so it's probably a logic "don't care".
    Maintenance Requirements on Stock
    How are Maintenance Requirements on a Stock Determined?
    In accordance with the rules of the exchanges, TD Ameritrade places “Initial and Maintenance” margin requirements on accounts. These requirements dictate the amount of equity needed in an account in order to hold and create new margin positions.
    All broker/dealers, including TD Ameritrade, Inc., reserve the right at any time to adjust minimum maintenance requirements. This adjustment can be done on an individual account basis as well as on a stock-by-stock basis, depending on a stock's trading volatility and other factors. Your account may be subject to higher margin equity requirements based on how market fluctuations affect your portfolio.
    Below are the maintenance requirements for most long and short positions. However, concentrated positions and certain stocks may have special requirements between 35% and 100%.
    Non-marginable stocks cannot be used as collateral for a margin loan. Likewise, you may not use margin to purchase non-marginable stocks.
    Old_Joe Old_Joe in Fund Discussions
  • TSHIX
    Lost 18.14% in 1Q 2020, vs 10.94% for FMSDX .
    WBALX lost only -8% in 1Q 2020.
    But....FMSDX has a 3 year annual return of close to +17%, versus TSHIX at 12.5% and WBALX at 10.6%.
    JD_co in Fund Discussions
  • TRP Ultrashort Bond ETF Market Purchase Disallowed at Fido
    Schwab has this note regarding TBUX:
    "Please Note: TBUX has a special maintenance requirement of 100%"
    Can anyone tell me what that means?
    Thanks- OJ
    Old_Joe Old_Joe in Fund Discussions
  • TSHIX
    Lost 18.14% in 1Q 2020, vs 10.94% for FMSDX .
    carew388 carew388 in Fund Discussions
  • TSHIX
    Nothing like transposing characters. My error.
    Looks like a pretty good fund. The only thing that jumps out on a cursory look is that it is very deep into junk bonds - more than half are B rated, another nearly 10% below B.
    msf in Fund Discussions
  • Rising Rates Are Not Likely To Trash Your Bond Returns
    The higher rates only benefit newer issues (at higher rates). The existing holdings (that have lower rates) become increasingly less attractive.
    Even if the fund holds
    floating rate securities / adjustable rate mortgages?
    Possibly. ARM funds were being launched left and right in the early 90s. And then they began dropping like flies as intererst rates rose.
    In 1995, directors of the T. Rowe Price Adjustable-Rate U.S. Government Fund voted to broaden its investment policy and to change its name to the T. Rowe Price Short-Term U.S. Government Fund.
    ...
    While the original ARM fund concept may have been valid, Randall Merk, director of fixed income investments for American Century, says, the industry "badly overstated" the protection such funds can afford shareholders during periods of rising interest rates.
    https://www.orlandosentinel.com/news/os-xpm-1997-06-22-9706201623-story.html
    msf in Fund Discussions
  • Let the SS COLA Projections for 2022 Begin
    Especially since it's 1.1% higher than one would have gotten had the SSA used CPI-E to compute COLA.
    The cost of transportation soared; no other category went up 4% or more. The category with the lowest Y/Y inflation was medical care, at 0.74%.
    https://www.bls.gov/cpi/research-series/r-cpi-e-home.htm
    CPI-E data (Excel format)
    msf in Other Investing
  • BAMBX VS TMSRX
    Had given up on many of the funds listed in this string. But I stayed with HMEZX, despite Nexpoint having a questionable partner history (via Highland Capital - J. Dondero). It is a red flag for many.
    But HMEZX has been a solid "steady eddy" performer. Returns are bond-like, and it has outperformed other merger-arb funds. If not for that 1 red flag, I would own a lot more.
    Another interesting vehicle is HRSTX, which converted a few years back to an options-based fund. Very steady, with great performance during negative market periods since its 2018 conversion.
    JD_co in Fund Discussions
  • TSHIX
    M* classifies TIAA-CREF Lifestyle Income Fund as a 15%-30% allocation fund. In the summary prospectus, TIAA benchmarks the fund against M*'s Conservative Target Risk Index, which is a static 20/80 index.
    https://www.tiaa.org/public/investment-performance/investment/profile?ticker=93570885
    It's a fund of funds targeting a 20% allocation to underlying equity funds. Its current portfolio holds 19.86% in equities (per M*).
    Its performance (raw or risk-adjusted) doesn't compare favorably to a target date retirement income fund like VTINX, let alone a 30%-50% fund like VWINX.
    The fact that you're looking at the advisor class of shares rather than the retail class of shares (TSILX) suggests that this is being proposed for (or is already in) a managed portfolio. For that purpose, it's a serviceable fund, but nothing I'd get excited about.
    msf in Fund Discussions
  • Let the SS COLA Projections for 2022 Begin
    The CPI-W data above has been updated to include September. You now have all the data necessary to calculate exactly the 2022 COLA. Be the first on your block with the number.
    The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 5.9 percent over the last 12 months to an index level of 269.086 (1982-84=100). For the month, the index rose 0.3 percent prior to seasonal adjustment.
    https://data.bls.gov/timeseries/CWUR0000SA0?amp%3bdata_tool=XGtable&output_view=data&include_graphs=true
    msf in Other Investing
  • Let the SS COLA Projections for 2022 Begin
    5.9%. https://www.ssa.gov/news/press/releases/2021/#10-2021-2
    sfnative in Other Investing
  • Xi Jinping Aims to Rein In Chinese Capitalism, Hew to Mao’s Socialist Vision
    Signs of progress with the rehabilitation of Jack Ma.
    Jack Ma resurfaces in Hong Kong
    davfor davfor in Other Investing
  • TRP Ultrashort Bond ETF Market Purchase Disallowed at Fido
    +1
    carew388 carew388 in Fund Discussions