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Morningstar/MORN IPO was in 2005; +47.6% annualized growth since inception. Founder/Chairman Joseph Mansueto is a Chicago-area billionaire. He is in lots of local news - philanthropy, real estate, etc.
People who invested just the annual subscript…
IMO, the big news of 2023 was that boring/lagging cyclicals DJIA made an all-time high. Prior/current sprinters SP500 and Nasdaq Comp may just have to wait for 2024 to make new all-time highs. Then, the CNBC would have new-highs specials again.
Sto…
FMSDX is a good fund, but may be a little misunderstood.
It is a multi-asset fund that has a mix of stocks + bonds + alternatives (HYs, FR/BL, convertibles, preferreds, EMs, REITs, etc). Unfortunately, multi-asset funds are not classified separatel…
Old M* Premium Screener was gone in 05/2023. So, it was a matter of time that old M* Basic Screener would also be gone.
New M* Investor Screener is BAD. Its like old Basic+, but has all classes of funds that cannot be suppressed (M* Premium Screene…
M* fund PDFs were free in the old days. Then, they were moved to its professional/advisory software with some legalese (for clients) & dozen+ pages. Now, it's available as 1- or 2-pages in the new M* Investor (subscription required).
I checked and omission of FBALX from the list wasn't accidental. The list included only Gold, Silver, Bronze rated funds. M* downgraded FBALX to Neutral (from Bronze) in 2019, a long time ago!
Looking at M* Reports in the Archives, M*'s issue is l…
More info on Vanguard ETF reinvestments.
Now I have 5 ETFs in my VG Brokerage a/c. My default is to reinvest when this option is available. So, it is interesting that VG is handling them differently.
ETF, Reinvestment, When Done?
ICSH, ON, Pay Dat…
Thanks @msf. I consider Fairmark as a good source. In cases where some doubts remain, I keep notes in my personal tax records on what source I used for what I was doing.
By the way, IRS Publication 550 is also quite clear on Holding Periods.
IRS P…
VHT ex-div 12/19/23 (EOD NAV $247.46), pay-date 12/22/23 (range $247.32-249.12, close $248.38).
2 points:
1. Reinvestment by Vanguard was on the pay-date near the close. It may be later by other firms.
2. Most chart services (StockCharts, Stock R…
BTW, I am relative new to Vanguard platform. I normally reinvest distributions for mutual funds, but take them in cash for stocks, ETFs, CEFs (At Fido, Schwab). It seems that Vanguard default is to reinvest - I didn't pay attention to this detail wh…
Another source says that Canada still follows the settlement-date within the year, while the US follows trade-date within the year.
https://investingnews.com/daily/resource-investing/mark-these-tax-loss-selling-dates-on-your-calendar/
"What are the…
I don't think that SA info is correct - it used to be like that, but now, trade-date applies in most cases.
Here is info from Fairmark,
https://fairmark.com/investment-taxation/capital-gain/stock-sales/trade-date-and-settlement-date/
https://fairm…
@Tarwheel, try this at Fido:
Account & Trade/Account Features/Dividends & CGs - adjust.
I think you also get the option on purchases.
@bee, Vanguard follows #2 above.
An advantage of mutual funds/OEFs is that reinvestments are easy and on the ex-div dates.
You can also turn on reinvestments for ETFs, but those are handled differently - depends on the ETF sponsor and the brokerage.
1. If the brokerage has a deal…
@Sven, AAII Sentiment is contrarian. It is too optimistic now, and so are the other sentiment indicators (see below). This party may go on for a while - good seasonality, Holidays/New Year, etc. New highs in DJIA may be followed by new highs in SP50…
In the list of US steel producers by tonnes, I see X & CLF as US #2 & #3, or US #3 & #2. Market-cap rankings may be different. This global list has data from 06/2011-06/2022. If Nippon Steel's bid for X is successful, it will move to glo…
CLF and private-equity were playing the game of buy-X-on-cheap. Union won't do good under private-equity, so USW sided with CLF. That game has changed now that Nippon Steel bid almost double - sort of a knock out bid to make others go away and also …
There are multiple bids for X. USW had sided with CLF bid but that may now be a low bid. USW claims that it has a veto on the acquisition of X, but X says it doesn't. Unless CLF doubles its offer to match Japanese Nippon Steel, this may become an in…
I was curious what US models were affected. Article didn't mention any specifically.
Looking at the history of Daihatsu, it stopped marketing cars in the US in 1992. It is now a subsidiary of Toyota, so it may feed parts or assemblies into Toyota c…
For retail investors, there are many low-cost SP500 ETFs now, SPLG (2 bps; newer from S&P itself), IVV (3 bps), VOO (3 bps) the old S&P SPY (9 bps). They aren't trading in millions/billions as institutions are.
There are differences between Price PHEFX and JPM JHQAX.
PHEFX just started, 07/2023-, so its M* analyst evaluation is based on its future potential/promise, not any record. JHQAX has almost 10-yr record that can be evaluated - both with Star-ratin…
There has been a serious effort to walk back some of what Powell said.
NY Fed Prez John Williams on CNBC on Friday - he is a permanent voting member of the FOMC as well as FOMC Vice-Chair
Now Chicago Fed Prez Austan Goolsbee - he is a current FOMC…
Multisector FMSDX may have only 30% nominal-equity now (it varies), but it has increased HY/FR-BL/convertibles/EMs to 25%. So, it still acts as moderate-allocation. Of course, it will lag in any stock rally.
Canadian exchange TMX Group buys the rest of VettaFi. It bought 22% stake in January and is buying the remaining 78% now.
https://www.bnnbloomberg.ca/tmx-group-buying-78-stake-in-vettafi-it-doesn-t-already-own-for-1-15b-1.2011572
https://www.reuter…
FOMC Statements are embargoed by the Fed until 2:00 PM Eastern/1:00 PM Central. I try to post ASAP, with 1:0x PM Central time stamp. The Fed site is swamped right at 1:00 PM Central and its refresh take a while. My Notes follow after Powell's presse…
YBB Notes
Rates were maintained - fed funds 5.25-5.50%, bank reserves rate 5.4%, discount rate 5.5%. Rates are at/near peak. Rate cuts are possible in late-2024 or 2025. LT rate decline is market-driven.
QT continues at -$60 billion/mo for Treasur…
Indicative-value (IV) is that of the ETF trade-basket used by authorized-participants. It indicates real-time premium/discount for the ETF. For liquid ETFs, there isn't much difference from the trade-price, but for illiquid/less-liquid ETFs, it may …
@MikeM, that is why I had "may".
One problem is that there are different types of ADRs. Some are company-sponsored that follow all rules; you can think of these as "official" ADRs.
But there are some nonsponsored ADRs that may be different - you…
Foreign companies may withhold tax that can be refunded if a bilateral treaty exists. So, several ADRs withhold taxes.
BTW, you will see foreign tax withheld in your yearend brokerage 1099 that can be deducted simply on Form 1040 (simple situations…
There is lot of conduiting going on: Bank==>DTC/DTCC==>Broker==>Customer.
But the broker is charging 25-50 bps to list CDs on its platform. Customers don't see this fee, but banks pay high prices to quickly raise funds via brokered-CD chan…
@Baseball_Fan, there are several recent studies, including by Pfau, that include basic immediate annuities (SPIAs) in the withdrawal mix. So, that is one way to address the SOR risk.
"Rising equity glide path" indeed follows a lower equity exposure…
@sma, Wade Pfau has done several recent studies on retirement withdrawals. Basically, he has looked at various ways to modify/improve Bengen's 4% w/COLA Rule. He was a Professor at the American College of Financial Services, so he is not pushing any…
I think I have mentioned in some thread at MFO. Dave Ramsey said recently that withdrawing 8% with COLA was OK with all-stock portfolios and that everyone recommending only 4-5% with COLA from hybrids was a fool.
Well, tables were turned soon on R…
Article focuses on the accumulation phase when periodic contributions can overcome lots of market adversity. It isn't surprising that the overall result is good as the US markets have trended up since inception (not true universally).
But things ar…
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