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.
IBIT prospectus only says that the desire is to be treated as a grantor trust, and if that isn't approved by the IRS, it may be treated as a partnership, and if that isn't approved by the IRS, it may be treated as taxable corporation. It doesn't men…
These ETPs are barely 1-day old (I will stop calling them ETFs), and already an options-based ETF has been filed for GBTC; others may follow soon.
The firms involved (and there are some big ones) are in it for fees that are collected whether the s…
These "ETFs" were really approved as 1933-Act ETPs even though the term "ETF" is used loosely in some names and descriptions. All/most would issue K-1s, not 1099s. For a discussion of 1933-Act ETPs vs 1940-Act ETFs, see the link below.
https://ybbp…
@DavidF, Vanguard footnote explains that only 0.20% is for portfolio management, and the rest for interest costs for borrowing & fees for shorting.
Funds are required by the SEC to provide TOTAL ERs, but fund analytics services can be more flex…
Long & short futures-bases-Bitcoins do exist, BITO, BITI, etc.
So, in time, short spot-Bitcoin ETFs should arrive. Trading in long spot-Bitcoin ETFs starts only TOMORROW (1/11/24).
M* now likes allocation 60-40. Some "naysayers" were at M*.
Naysayers Were Wrong About the 60/40 Portfolio. Here’s Why.
After a disastrous 2022, it turned out not to be dead after all.
https://www.morningstar.com/portfolios/why-naysayers-were-wrong…
Boeing/BA moved its HQ from Seattle to Chicago in 2001, and from Chicago to Arlington, VA in 2022.
For some reason, it has stuck to the damaged brand name "737 MAX".
https://en.wikipedia.org/wiki/Boeing
ROSOX / ROSIX
Morningstar 1* / 2*, Negative
Firm https://www.morningstar.com/funds/xnas/rosix/parent
From Barron's 5/22/21:
VALUE has lagged badly for so long, that it is risky to pick the NEXT GENERATION of value hunters. But that didn’t stop Ba…
Facts as presented are unclear.
If a mutual fund order is entered BEFORE 4 PM Eastern market close (beware that some brokers may have earlier cutoffs, but none of the major ones do now), you will get the closing NAV of THAT day. BTW, I have succes…
12/8/23 was Friday. T+1 settlement would be Monday, 12/11/23.
1/4/23 was Thursday. T+1 settlement would be Friday, 1/5/23.
This assuming that orders were in BEFORE 4 PM Eastern.
If AFTER 4 PM, then dates would be 12/12/23 and 1/8/23.
@sma3, Stock Rover Premium (SR) has a steep learning curve. Distributions have to be updated manually (no auto-refresh click of M* Portfolio). That is why I am running BOTH M* Portfolio/ M* Investor & Stock Rover for now.
@sma3, in the M* Investor Menu, are you checking the separate tabs for Portfolios (icon is a folder) and Watchlists (icon is an eye)? Clicks on the bar-stack on the top Hide/Show details. Both the Portfolio and Watchlists used to be in the same menu…
My M* Watchlists were also Exported. It was a while back, so I don't remember exact steps (Edit - Actually, the transport from old M* Portfolio to new M* Investor was automatic after login).
Edit/Add. I checked M* Investor after a long while.
So,…
@equalizer, as explained in this primer, T-Bills are sold at discount, and the sale price or par (at maturity) determines the taxable amount. So, there is no tax to be withheld and no estimated taxes to be paid.
https://public.com/learn/how-are-trea…
Factor ETFs are popular now.
Dividend-factor is a very crowded field. The related ETFs fall into 3 broad categories - current-dividend (VYM, etc), dividend-growth (VIG, etc), dividend-blend (SCHD, etc).
I am OK with dividend-blend but not so much…
MFO Premium Homepage has an interesting layout. The 1st row of the horizontal Menu Bar has all the FREE stuff. The 2nd row has all the SUBSCRIBER stuff.
HOME BLOG QUICKSEARCH OWLS ALARM PROFILES DEFINITIONS MFO
LOGIN ANALYZE MULTISEARCH PORTFOLIOS…
@Tarwheel, when the old M* Portfolio goes away, so will the old M* Watchlist that is within the M* Portfolio. So, both will be available through 2024.
You can transfer both the Portfolio and Watchlist into the new M* Investors that isn't ready for …
RiverPark is known here for some of its subadvised funds (RPHIX, RSIIX) and those are in the news here. But the firm itself has had issues with turnovers & AUM losses.
M* on RLSFX
"Co-founder and co-chief investment officer Mitch Rubin depart…
PFIX - Simplify Rate Hedge ETF
New Year brings new records. Looks like this ETF made an almost 50% distribution at the yearend.
https://twitter.com/syouth1/status/1742001236923015317
https://finance.yahoo.com/quote/PFIX/history?p=PFIX
https://sto…
In the meantime, M* has its own chatbot "Mo". It is based on ChatGPT/OpenAI running on Azure/MSFT.
While general Q&A chatbots (ChatGPT, Bard, Claude) may be fun, these application specific chatbots have better commercial future.
https://newsr…
I think M* advisor workstations/terminals cost around $10,000.
It cannot get those kind of revenues from the old M* Premium or the new M* Investor.
Those who haven't visited M* Discussions recently will find several discussion/Q&A areas now f…
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…
