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.
Fund managers are more adept with callable bonds.
FWIW, one common strategy by "income funds" is to buy premium bonds to boost the current income. But this is at the expense of declining value to par.
The "total return" funds may buy discount bond…
@catch22, I tried Red Hot Cinnamon candy,
https://www.amazon.com/Wonka-hots-Hard-candy-Spicy-cinnamon/dp/B01KOKCV8Y/ref=asc_df_B01KOKCV8Y/
It took about a couple of days to find it locally. Then, it was a disappointment. The "hot" sensation was ver…
11/30/23, Thursday evening quote of $25.01 for PRCFX is at Yahoo Finance & CNBC. Not yet at other sites.
https://finance.yahoo.com/quote/PRCFX?p=PRCFX
https://www.cnbc.com/quotes/PRCFX
I did try a Schwab test order around 2:00 PM Central, but t…
Good & timely reminder.
Secure 2.0 made many changes that have been covered in earlier threads.
Sticking to RMDs, another1 change from 2024 is that RMDs will no longer be required from Roth 401k/403b. Until 2023, retirees have to move Roth 40…
Good thing (?) is that auto-billing for life insurance didn't kick in as usual. I am on quarterly billing, so late-Nov/early-Dec charges were expected. NOTHING yet.
Will TIAA wave it (-:) or just send paper bill in the US Mail?
As for policies, I …
There are no EOD quotes for PRCFX or PRCHX.
M*, Nasdaq, etc are blank; Yahoo Finance and Price Homepage refuse to recognize tickers; Bloomberg says Pending Listing. May be there was some hitch and it didn't launch today.
https://www.bloomberg.com/q…
Edgar/SEC filings will be under T Rowe Price Capital Appreciation (CIK#: 0000793347)/T rowe Price Capital & Income (Series: S000081993)
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=S000081993
Schwab message for a test purchase for PRCFX,
"1. The symbol you entered is not available to trade. If you have entered this symbol in error, please try again. If you are attempting to place an order for a fund in subscription, thank you, but the f…
M* recognizes PRCFX & PRCHX, but not TCIFX.
Similar at Yahoo Finance + press release https://finance.yahoo.com/news/t-rowe-price-launches-capital-143000063.html?.tsrc=fin-srch
But anything is better than MY Social Security that is a fat $0 - my state employer was exempt but has since joined SSA for newer employees. So, I get billed for Medicare Part B, and both IRMAAs, plus a late-penalty that I mentioned in the previous …
Medicare rules aren't simple or logical. So, I pay late penalty for Part B because of confusion whether retiree coverage allowed late signup (it didn't despite some back-and-forth), but no late fees for Part D as that under retiree coverage was cons…
Medicare is subsidized for all eligible participants. It isn't based on any inflation index. Medicare looks at its estimated expenses and then devises several IRMAA tiers annually with varying levels of income and subsidies. For Part B, participants…
Auto insurance renewal up +17%.
This on top of up +17% last year AFTER I boosted collision-deductible to contain rate increase.
This time, doing nothing.
@Crash, I took your challenge. It seems that pages exist but cannot be found from the main Durable Cap link. The "tech guys" need serious web help. There is also some clickable mumbo-jumbo at the end.
https://www.durablecap.com/team-bios/
His bio a…
Henry Ellenbogen moved on from PRNHX in 2019 and founded Durable Capital. He was/is a member of Barron's Annual Roundtable that is published every January. Amazingly, Barron's kept him as a Roundtable Member even around his 2019 transition when he l…
SEVN is a mREIT that has been around for a while (2006- ). It may be showing up on screens for high YTD, but much of that came in early-January. It does have high distributions, as is typical of mREITs (highly leveraged bags of MBS). Otherwise, it h…
CGDV has Div Value in its name.
M* has it on the borderline between Value & Blend.
M* market-caps (SC, MC, LC) are relative. Others may use absolute criteria & their designations may be different.
Beyond these long-term issues, there is a near-term issue for #OpenAI & $MSFT.
As their current contracts include sharing IP up to #AGI only, the issue for OpenAI becomes whether to more commercially develop #GPT4, or shift focus to #GPT5 (&…
I track ICI fund allocations monthly, so I looked up the recent history.
In mid-2022, when the Fed just started to raise rates, the allocation to m-mkt funds on 5/23/22 was 14.95%. The most recent report on 9/30/23 had it at 18.37%. That +3.4% shif…
The ICI release came in at $5.76 trillion in m-mkt funds on 11/21/23.
Banks have lot of money just sitting at the Fed collecting 5.4% risk-free. Lending business is slow. So, most banks don't need deposits, although some do and are seeking deposits …
@hank: "mutual fund. One conceived back in the ”dark ages” (1986)."
How about 8/31/1976, the inception date of the first publicly available VFINX? 1986 could be a typo too.
In some retirement accounts, similar indexed funds existed even earlier.
…
AF, the champion of the class-mess, can split taxable and retirement classes of its mutual funds into separate funds, close/freeze all taxable classes, and then turn them into ETFs. So, a multistep, slow process.
Well, it is NOT uncommon for nonprofit entities to have for-profit units. Examples include universities/colleges (athletics, bookstores, arenas/pavilions, auxiliaries), TIAA, etc.
The most famous and controversial may have been Howard Hughes' nonp…
There is news on this thriller - may be a great PR in the hindsight. Sam is back, there is a new Board, almost everyone is happy. Here is my take,
TwitterLINK
Initial "new" Board is all external/independent. Don't know how long this will remain.
In…
QLTY AUM is missing at most sites (M*, Yahoo Finance, Nasdaq, Fido), including at GMO. But I downloaded its holdings as of 11/22/23 from GMO site, added up the market values of all holdings, and that is $8.01 million. May be this is what they mean b…
Resource needs are different for OEFs and ETFs.
When you buy OEF from a fund firm directly, the administration part (account opening, transactions tracking, yearly 1099, etc) is the responsibility of the fund firm.
3rd party brokerage platforms de…
@Sven, see Q&A. Fido has all kinds of ETFs - nontransparent, semitransparent, transparent; also, passive, Active.
Q8: Will these ETFs be “non-transparent” or “semi-transparent”?
A: The ETFs will be fully transparent and disclose holdings on a d…
Actually, the ETFs trade at premium/discounts too, but those are small due to their creation/redemption mechanisms. There have been several instances where that mechanism was disrupted for some ETFs and those started trading like CEFs.
There is a c…
CEFs are tradable securities just like ETFs and stocks. They have the current market values but no liquidation dates. They are subject to M&A by activists. Just look at GIM that will turn soon into SABA.
BTW, CEF structure is one of the oldest …
These CEFs with special term-structures have evolved over 2-3 years. In about 12.0-13.5 years after inception, these CEFs will liquidate, but smaller residual CEFs may continue AFTER all shareholders who want to redeem have been redeemed. Prices wil…
