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.
On the positive side, industry-based "standards" and "certifications" are common in other areas. For example, in engineering, there are standards and certifications from ASME in mechanical engineering, ASCE in civil engineering, IEEE in electrical e…
Strangely, the image I posted is opening within MFO in my Chrome & phone Android. But I am reposting it via ImgBB,
I think that Bloomberg guesses are coming from also looking at the data from central banks or governments that are published by…
Another source provides additional insights.
As the footnote in the Treasury link notes, the data in the table is only from the Treasuries held at US-based custodians and broker-dealers. Treasury doesn't know how much Treasuries, say, China may be …
Where did all of the oil petrodollars go? The only Middle Eastern country on the list is Saudi Arabia and that's #17.
Total foreign holdings of US Treasury seem stable over the 11/2024 - 11/2025. So, many countries have stable holdings, some are in…
El Paso airspace closure order was cancelled by FAA after a few hours. Seems a huge lack of communication/coordination between FAA/DOT and Pentagon/DOD.
Apparently, there is a new anti-drone technology using lasers or GPS jamming or electromagnetic…
While you were watching (or not), GIM (Michael Hasenstab) was acquired hostilely by SABA (activist Boaz Weinstein; fund name, objectives & ticker were changed) and there is now a proposal to merge SABA with BRW (also Boaz Weinstein). Both SABA a…
Japanese debt is alarmingly high at 235% of GDP, but 88% is held domestically. So, it isn't vulnerable to dumping by foreigners.
https://en.wikipedia.org/wiki/National_debt_of_Japan
This may revive direct-selling channels for some insurance. Even insurance agents handle most tasks remotely. They rely on pictures from drones or Google and insurance databases to underwrite new insurance. The days of agents visiting homes or faci…
@DrVenture, these things are offered in +/- pairs.
So, for QQQ, there is +3x TQQQ and -3x SQQQ. ProShares makes money on ERs for both. These were grandfathered under the 2025 SEC rules limiting leveraged ETFs to +/- 2x - there were fears then that…
Since 2025, SEC has restricted leveraged ETFs/ETPs to +/- 2x. However, existing +/- 3x ETFs were grandfathered, so they do exist.
ETNs weren't restricted, so new +/- 3x ETNs can still be issued - but ETNs are really debt or IOUs.
But that hasn't …
"Takaichi’s Liberal Democratic Party and its coalition partner, the Japan Innovation Party, were on track to win at least 310 seats in the 465-seat lower house in Japan’s parliament, according to initial results and projections by public broadcaster…
I applied the SWRM-test to EGRIX.
For free PV run for 10 years, 2/1/16-1/31/26,
SWR = 10.96% (high because it's over 10 years only & there is return of some principal)
CFI = 0.3869/1.3869 = 0.2790
SWRM = 10.96 x 0.2790 = 3.06%
So, the safe wit…
My checking of M* and PV for TRBUX and TBUX:
TRBUX
Non-inv gr (BB or below) M* 0.19%, PV 0%
Not-rated M* 4.36%, PV 4.36%
TBUX
Non-inv gr (BB or below) M* 0.18%, PV 0%
Not-rated M* 4.20%, PV 4.20%
Not-rated (NR) just means that bonds were not rate…
Rate hedging can be via rate futures or Treasury derivatives. Positioning would depend on managers' outlook.
My bond funds are mixes of multisector and ultra-ST bond funds with some munis thrown in.
An interesting article by Lynn Bolin on "Perpetual Motion Income Machine". In his Group 1 of funds, perpetuality of income is assured because more than inflation adjusted principal is available at the end of study periods.
There isn't much literatu…
Review this material.
https://ybbpersonalfinance.proboards.com/post/861/thread
You have only limited liquidity, say, 5% per quarter. Wrapper is good for illiquid stuff. IFs don't trade & NAV may not be posted daily.
Only SP500 has a firm "4-quarters of profitability" rule for initial joining. For other indexes, rules are fuzzy and malleable.
Elon MUSK probably remembers how long it took Tesla/TSLA to join SP500.
I find banking a/c linked to brokerage convenient. As mentioned, it's easier to link banks than brokerages.
I have 1 credit union a/c and 2 bank a/c (including Schwab Bank). At one time, Schwab Bank checking also had decent yield, not not now. I go…
In my general account linking experience, it's easier to link banks (targets) from brokerages (originations) than vice-versa. Then, you have to remember which was the originating institution.
Only Fidelity seems to have manual account linking proces…
India has been very active on trade deals. These used to take years, but now are coming through quickly.
Trade deals done in 2025: United Kingdom (CETA), Oman (CEPA), New Zealand (FTA), the EFTA bloc (Switzerland, Norway, Iceland, Liechtenstein; TE…
Schwab has separation between its brokerage (physical offices) and Schwab Bank and Schwab DAF. Yes, it gets irritating sometimes.
I have all 3 types of Schwab accounts.
Lot of things that IRS or DOL allow aren't allowed by many retirement plans. Plan sponsors/committees have to act like fiduciaries. So, the plan rules are typically a subset of IRS/Treasury/DOL rules. That's a good thing.
MFO search doesn't pull up anything on active ETFs GDE or GDMN.
GDE is LC stocks and gold. AUM $642.4 million, ER 0.20% (low for active ETF).
GDMN is gold-miners and gold with leverage 1.8x (effective 90% in gold-miners, 90% in gold-bullion). AUM …
ETF SPC (09/2021- ) has changed name, ticker & objectives as CUSD (01/2026- ).
SPC invested in the niche area of pre-merger SPACs. A new SPAC has to find a viable business within 2 years or return the money to investors. Pre-merger SPC counted …
Silver bullion definitely had a crash on Friday (1/30/26).
In general, a rapid decline of over 20% from whatever level qualifies as crash.
Flash-crash is a decline of over 10% in a very short period.
There was a flash crash in precious metals o…
First Eagle Investments has been owned by private-equity since 2015.
2015-25 Blackstone/BX and Corsair Capital
2025- Genstar Capital
So, the firm and its people have gotten used to private-equity ownership.
https://en.wikipedia.org/wiki/First_E…
Very interesting.
HY bond market quality has improved (BB-rated have risen to 59% of total HY) because some of the bad credits have shifted to bank-loans (with floating-rates; BB-rated have declined to 30% of total bank-loans) & private-credit …
Post-Presser Notes
Rates: Fed fund held at 3.50-3.75%, bank reserves rate at 3.65%, discount rate at 3.75%. Fed fund rate is around the neutral rate (unknown). Risks to Fed's dual mandate (prices & labor) are nearly in balance, so a rate pause …
140 tonnes of gold is VERY impressive for a company like Tether. That's more gold held than by many small central banks - Philippines, Mexico, S Korea, Australia, Denmark, etc. Tether will be in Top 30 by gold held in the country list.
https://en.wi…
@equalizer, Peter Lynch's original plan was to retire in 1987, but the crash of 1987 intervened, FMAGX had large redemptions, and Lynch didn't want to leave the fund with that situation. So, he delayed his early retirement to 1990 and fund AUM had s…
