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.
Those interested in Fido HY FAGIX (not pure HY) and its manager Mark J Notkin may note that he also runs a "leveraged-company" stock fund FLVCX and is also responsible for the HY sleeve of Fido multisector FADMX.
Annual gift exclusion for 2024 was increased to $18K (per individual, per beneficiary).
The same is also the annual contribution limit for 529s , although there is a 5-yr pull-forward provision that can allow 5 x 18K = $90K into 529 right away.
…
I did some research on Boaz Weinstein & Saba. Guy has an interesting background. He is a hedge fund "genius" but question is whether his magic translates into his public/listed funds. This doesn't always work - look at Robert Goldstein and his f…
In Q&A, Powell firmly rejected what the climate-protesters wanted him to do - use the Fed to force banks to somethings that haven't cleared the Congress. Somewhere during the interruption, he also dropped the F-bomb and that is all everyone seem…
@Observant1, M* has ANOTHRER piece on "Covered Call Funds" by the SAME author.
https://www.morningstar.com/markets/why-are-covered-call-fund-yields-so-high
ETFs have creation/redemption mechanisms for authorized participants (market makers, think of them as wholesalers). They can trade in-kind with stock/bond-baskets in lots of 50,000+ shares. So, if one wanted to buy multiple times of the daily volume…
@Jan, that doesn't sound right.
You can rollover/direct-transfer 401k/403b into a Traditional IRA at bank or fund family or brokerage. Find out where is the problem - at Fido or Ally, then ask for a supervisor. Transfer to bank IRA may be less comm…
I think that list includes acquirers as well as acquired and bankrupt banks.
I had an a/c at NetBank when it failed. Its buyout by EverBank had fallen through. As part of the FDIC rescue, it was acquired by ING Direct (anyone remember that?), and t…
PV does have "Month-to-Month" option in addition to "Year-to-Year" option.
FAGIX is a good fund that may be misclassified as HY. Up to 20% nominal can be in equities, but when high correlation of HY with equities is accounted for, it may as well be…
Saba is doing a tender offer for 45% of GIM and will rename it SABA. The AUM is $437 million. It will become a big fund for Saba (existing ETF CEFS & CEF BRW).
Twitter LINK
https://www.cefconnect.com/fund/GIM
Edit/Add. https://www.businesswir…
@Mona, I used annualcreditreport.com for years. It required accessing the credit bureaus from annualcreditreport.com portal only. It provided credit reports but not the credit scores - I could pay some to get those. Then, 1/yr restriction. As my wif…
Byron WIEN who passed away recently at 90 (1933-2023) had this philosophy on predictions (and he made many) - they were meant to be thought-provoking contemporaneously and it didn’t matter whether they turned out to be right or wrong (and he didn’t …
Lower volatility or downside of JEPI comes from other things (not call writing) - in the SP500 universe, it finds undervalued stocks with lower volatility. M* shows %equity at 85%; rest 15% is used to support equity-linked notes (ELNs), securities l…
Intuit want Mint users to use Credit Karma. There are other budgeting apps too.
I do use Credit Karma for FREE credit monitoring at Equifax and TransUnion, but have never used a budgeting app.
https://www.pcmag.com/news/intuit-to-scrap-mint-and-mov…
Covered-calls don't offer downside protection (beyond the small premium received). If they buy puts for downside protection, that would cut into call-writing premium, i.e. the fund income. Only those ETFs that are offered for hedges may use calls an…
It was a GLOBAL rally.
"FOR THE WEEK (index changes only), DJIA +5.07%, SP500 +5.85%, Nasdaq Comp +6.61%, R2000 +7.56%. DJ Transports +7.06%; DJ Utilities +5.80%. (Rotating spot long Treasury TLT +3.86%) US$ index (spot) -1.40% (remains too strong …
Stuff didn't add up, so I did some snooping around.
First, Jacob Internet JAMFX (12/1999- ; ER 2.02%, min $2.5K) is the ORIGINAL dot.com era hot fund that crashed-&-burned-&-burned-over. It is still around as a fund even smaller than its sh…
No single location for 12 Fed Bank press/media info. You would have to go to EACH Fed Bank site and look under Press/Media for schedules. For example, here is for NY Fed Prez,
https://www.newyorkfed.org/press#public-engagements
To go to 12 Fed Bank…
@BaluBalu, great catch!
It seems that nonpublic classes were launched on 7/5/23 (advisory & retirement a/c) and have gathered $2.3 billion AUM already (M* shows the total for all available classes). Apparently, all tickers have been valid since…
Reider (BlachRock), Ivascyn (Pimco), Giroux (T Rowe Price) are fund managers as well as CIOs of their respective firms. It's now part of their JOBS to talk up their firms to pickup some loose change. In fact, any fund manager on TV has some agenda a…
YBB NOTES
Rates were held - fed funds 5.25-5.50%, bank reserves rate 5.4%, discount rate 5.5%. 1 more hike is possible. Dot plots aren't policy, but just an indication of the current FOMC thinking.
QT continues at -$60 billion/mo for Treasuries, -…
Subscription for mutual funds/OEFs by Vanguard is a bad idea. Money will just sit in a m-mkt fund & then be deployed on/after 10/14/23. Interested buyers can just buy it then.
Instead, Vanguard should seed new funds with its own money ($50-100 m…
I've been procrastinating forever moving my HSA from a low interest savings account to a Fidelity account to invest long term. This thread was the motivation I needed to make the move, thanks to @bee and others.
My HSA amount isn't great and with …
So, I shouldn't have added the AUMs from Fido (I thought I was simplifying things). Here are those as separate:
PEOPX, ER 50 bps
2021 $2.57 billion
2022 $1.87 billion
2023 $1.99 billion
DSPIX, ER 21 bps
2021 $3.20 billion
2022 $2.04 billion
2023 $…
PEOPX / DSPIX (ER 50/21 bps) CG distribution looks strange.
Its high outflows were in 2022. 2023 to 9/30/23 looks OK asset-wise. So, there must be huge turnover or churn to cause that high CG distribution in 2023 (or, is that data from last year?)…
I have watched OSTIX for years but never got into it. It has strategic in its name but has never ventured beyond HY. Here is the MFO piece,
https://www.mutualfundobserver.com/2023/04/osterweis-strategic-income-ostix-fund/
Periods like GFC 2008-09, pandemic 2020, recession and credit freeze are problematic for ALL HY - ST-HY, IT-HY, even multisector funds that include HY.
But the current thinking is that recession has been cancelled for now.
Wow!
DWS Equity 500 Index Fund I-class BTIIX AUM history from Fido,
https://fundresearch.fidelity.com/mutual-funds/view-all/25159R106
2021 $317.87 million
2022 $217.82 million
2023 $101.87 million
M* is showing 2023 AUM in ALL classes as $338.…
There are secondary sources that go over into HSA and Medicare details. Info is probably also hidden in some obscure federal publications. For your friend, it may matter more what her HR says.
https://offices.depaul.edu/human-resources/benefits/Docu…
@Mona, actually, she can also contribute $4,850 for 2023 by 4/15/24 so long as she signs up for HSA BEFORE December 1, 2023. Fido link has details.
Annual contributions are adjusted each year, so they may be higher in 2025, 2026,...
Tax math looks…
Fido SPAXX is among its core/settlement choices. It has zillion other m-mkt funds with higher rates and min.
SWVXX is prime-retail, although with gates vanishing, there won't be much difference between government vs prime-retail m-mkt.
HSA annual contribution limits are (single/family):
2023 $3,850/7,750
2024 $4,150/8,300
There is also additional $1,000 catchup for 55+.
https://www.fidelity.com/learning-center/smart-money/hsa-contribution-limits
Newer term-structure CEFs PDO and PAXS have discounts that will disappear in a few years. Many avoid them just because they are newer, but they are more attractive than their older BIG cousin PDI.
