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@hank : After reading your comment above I feel you need to play more in the NBA contests. Good luck & wish you the best on your new basket. FWIW, Derf
Today looks brighter. My 10-day old stock portfolio has clawed back all of yesterday's losses. And is close to break-even since inception. SSNC is little changed today. My best holding has been BJ (a smaller competitor to Costco) that was recommended by a Barron's writer. Up nearly 9% the past 5 days. There are steady-Eddies like BRK & MKL in there as well as long-shots like FLO and CPRI, both added because I like their products. There are 20 holdings, a reasonable number I think if you want to play in specific stocks.
,, The management fee is 1.3%. This is the only part of the expense ratio that goes to Militia Investments. The rest is in a category called “Dividend Expense, Borrowing Costs and Brokerage Expenses on Short Sales”, which you can see in the prospectus. The biggest component is the dividend expense from shorting. When a fund shorts an asset, it pays the distributions that asset makes. However, the asset falls almost the same amount as the distribution, making the economics neutral.
Part of ORR’s strategy is shorting high distribution yield ETFs, which leads to inflated dividend expenses. ORR also pays interest to obtain leverage. This is a real economic cost to the extent that ORR pays interest above the risk-free rate. It also pays borrow costs on shorts, but ORR tends to favor shorting assets with low borrow costs.
Because ORR is new, these costs were estimated based on Militia’s initial holdings. We were aware from the start that our strategy of shorting high-yield assets would cause a inflated and, in our opinion, misleading expense ratio that would make the fund harder to market. But we’re pursuing this strategy anyway because our goal is to produce the best after-tax, after-fee risk-adjusted returns for our investors, regardless of the accounting optics
I realize the David Orr does not tell us the exact ER in this info.
I cited the endorsement of Orr by Tom Lee of FundStrat, not Sam Lee.
Bought GOF today @ $12.32 on a limit order which triggered at open. I had sold some PFN, with the intention of buying more PDI. GOF looked like a better buy at this time. I bought it at a 17.72% distribution rate. And I read that GOF has never cut its dividend.
Current premium is 40% of its 3-yr average. Either this is an excellent buying opportunity, or a trap - lol.
RE: SSNC - Most software is getting hammered, and has been since the beginning of the year. Some think due to AI. I have a few that are getting under my skin: TRI, ADBE & AVGO.
Thanks @DrVenture. SSNC is probably the first tech stock I've ever bought. Will hang tight since it's only 1/20 th of the stock basket. But just to show how perfect my timing was ... It finished today down -10.6% just a day after buying it. It's now barely above the low it touched on Liberation Day in April! Wow. Pretty impressive pick. Fortunately this isn't the rent money.
BTW - I've heard the similar "AI" rationale while listening to Bloomberg today. Good luck with those picks you mentioned.
,, The management fee is 1.3%. This is the only part of the expense ratio that goes to Militia Investments. The rest is in a category called “Dividend Expense, Borrowing Costs and Brokerage Expenses on Short Sales”, which you can see in the prospectus. The biggest component is the dividend expense from shorting. When a fund shorts an asset, it pays the distributions that asset makes. However, the asset falls almost the same amount as the distribution, making the economics neutral.
Part of ORR’s strategy is shorting high distribution yield ETFs, which leads to inflated dividend expenses. ORR also pays interest to obtain leverage. This is a real economic cost to the extent that ORR pays interest above the risk-free rate. It also pays borrow costs on shorts, but ORR tends to favor shorting assets with low borrow costs.
Because ORR is new, these costs were estimated based on Militia’s initial holdings. We were aware from the start that our strategy of shorting high-yield assets would cause a inflated and, in our opinion, misleading expense ratio that would make the fund harder to market. But we’re pursuing this strategy anyway because our goal is to produce the best after-tax, after-fee risk-adjusted returns for our investors, regardless of the accounting optics
I realize the David Orr does not tell us the exact ER in this info.
I cited the endorsement of Orr by Tom Lee of FundStrat, not Sam Lee.
Thanks for the info. I also appreciate the time you put into the answer. I hope the fund works well for you.
Next time I'm having fun with MFO Premium I'll check out the category.
In the taxable: Bought a chunk of FSCSX equal to 15% of this morning's market value. Looks like that percentage could drift a little higher by the end of the day. I am in a position to add more if the downdraft continues. When I looked yesterday the NAV was down around the spring of COVID.
I'm keeping an eye on opportunities in SMH, CSGZX and TDV, but they're no where close to what would move me to jump in. I could add GRID, PAVE, and AIRR to that list. And I wouldn't mind adding a position in CGW to go with FIW.
In the IRA, sold off a little GSST to be in a position to add to equity holdings there. For my account anyway, Fidelity takes a full day to settle the sale.
The chart is interesting. Lots of spikes down, then up again. Seems to be indicating significant bottom fishing followed by brief recoveries and more bottom fishing.
The chart is interesting. Lots of spikes down, then up again. Seems to be indicating significant bottom fishing followed by brief recoveries and more bottom fishing.
Put on my first potential TLH (speculative) trade of 2026 ... with the Dow crossing 50K today, I picked up some oddly mis-priced April options on an inverse S&P (1X) ETF.
Comments
,, The management fee is 1.3%. This is the only part of the expense ratio that goes to Militia Investments. The rest is in a category called “Dividend Expense, Borrowing Costs and Brokerage Expenses on Short Sales”, which you can see in the prospectus. The biggest component is the dividend expense from shorting. When a fund shorts an asset, it pays the distributions that asset makes. However, the asset falls almost the same amount as the distribution, making the economics neutral.
Part of ORR’s strategy is shorting high distribution yield ETFs, which leads to inflated dividend expenses. ORR also pays interest to obtain leverage. This is a real economic cost to the extent that ORR pays interest above the risk-free rate. It also pays borrow costs on shorts, but ORR tends to favor shorting assets with low borrow costs.
Because ORR is new, these costs were estimated based on Militia’s initial holdings. We were aware from the start that our strategy of shorting high-yield assets would cause a inflated and, in our opinion, misleading expense ratio that would make the fund harder to market. But we’re pursuing this strategy anyway because our goal is to produce the best after-tax, after-fee risk-adjusted returns for our investors, regardless of the accounting optics
I realize the David Orr does not tell us the exact ER in this info.
I cited the endorsement of Orr by Tom Lee of FundStrat, not Sam Lee.
Current premium is 40% of its 3-yr average. Either this is an excellent buying opportunity, or a trap - lol.
https://www.cnbc.com/2026/01/29/software-stocks-enter-bear-market-on-ai-disruption-fear-with-servicenow-plunging-11percent-thursday.html?recirc=taboolainternal
Next time I'm having fun with MFO Premium I'll check out the category.
I'm keeping an eye on opportunities in SMH, CSGZX and TDV, but they're no where close to what would move me to jump in. I could add GRID, PAVE, and AIRR to that list. And I wouldn't mind adding a position in CGW to go with FIW.
In the IRA, sold off a little GSST to be in a position to add to equity holdings there. For my account anyway, Fidelity takes a full day to settle the sale.
The chart is interesting. Lots of spikes down, then up again. Seems to be indicating significant bottom fishing followed by brief recoveries and more bottom fishing.