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I'm not invested in Permanent Portfolio but would you consider that a GA fund?
That's a broad ranging fund, but lacks a GA feature: discretion.
In pursuit of its investment objective, the Portfolio’s strategy is to invest a fixed “Target Percenta…
Investors expect their companies to increase profits every quarter; customers expect them to continually lose money. Neither expectation is realistic.
Zooming out only slightly:
A 2023 pretax underwriting profit of $3.6 billion, reversing a $1.…
Without going into too many details, here are some broad comments:
This is marketed as a reduced risk investment. Prospectus:
The Fund may also hold a substantial portion of its assets in cash or cash equivalents, including treasury bills and mon…
I've been to Medford, though sadly not to the Shakespeare festival nearby. Really nice store. I'd describe it as a Hickory Farms on steroids but that doesn't do it justice.
It sounds like you're in good shape - drawing modest spending cash from T-IRAs annually and owning no or little tax on those draws. From that perspective, conversions may indeed be just an added complication.
I've spoken with enough people who p…
Consider yourself fortunate that you haven't been doing this for fifty years (or have you?)
My father purchased shares of "One William Street" back when mutual funds issued certificates (image below not his certificate)
This was originally a fund…
Rebranding seems pointless to me
Generally I agree, especially with acquisitions because the acquired family name is the one investors are familiar with. It has value - presumably the funds were acquired because they (and thus the brand) had valu…
@Crash You stated:
NOT adding to the IRA, because the "contributions" would be non-deductible. So, I'm focused on the taxable side, and there is much more freedom of choice over there, too
Are you suggesting that your 'taxable' Schwab account(s) h…
"Morningstar's John Rekenthaler starts with a simple but unusual observation that if 2 assets have the same long-term (LT) TR, then rebalancing will definitely benefit the TR."
In all other cases, rebalancing hurts TR, but does control riskThat's th…
And if the heir is a spouse at least 10 years younger than the deceased, there is a particular, more generous draw-down table in the case of a T-IRA. Not sure about 401k or 403b.
https://irahelp.com/forum-post/77387-ira-spouse-beneficiary-withdrawal…
I put ten funds through Portfolio Visualizer to see how it would optimize such a portfolio.
Some of your categories are easy to understand. Others are not so well defined (and Lipper and M* can differ as well). I took my best shot and picked…
This just goes to show how slow I can be in catching up on changes.
T. Rowe Price launched its series of quantitative management (QM) funds about 8 years ago (April 2016) but changed them to use an "integrated" strategy (combining fundamental an…
Beware of nonbank fintech apps promising good yields.
What did these people think they were getting from Yotta that they couldn't get from an actual bank?
It turns out that there's a lot to unpack here. I had not taken a look directly at Yotta. …
Nonbank fintech apps Yotta and Juno provided customers false or misleading assurances that their money was safe with FDIC insurance
An old joke, misattributed to Winston Churchill comes to mind (I'll connect the dots shortly):
A man asks a woman if…
With Schwab, if I purchase a new position I have to sell SWVXX the same day because SWVXX will settle next day.
With Fidelity(my understanding) is that the MMF will auto trade and settle next day to cover the prior day purchase therefore MMF posit…
Also Schwab MMF settles T+1 unlike Fidelity MMF which settles same day so another opportunity for Schwab to extract rent.
Well, sort of. Fidelity requires the purchase money to be available same day, which is the definition of "same day" settlem…
The TIAA VAs that yogi is writing about are the CREF annuities. TIAA invented variable annuities for the predecessor of 403(b) plans back in 1952. These qualified annuities are different from the non-qualified annuities that Catch is asking about…
You-know-who accords the fund its Silver medal
I know what gives it a silver medal - the medal is 0% analyst driven.
There's no depth in the computer-generated "analysis". It looks at the five year return, which is well above average, without…
Having recently (re)opened a Schwab account, I have a different set of observations vis-a-vis Fidelity. While my first impressions of Schwab below are largely negative, keep in mind (as I do) that using a new site is a learning experience and that…
Am I missing fund pairs or an insight?
Probably too new to provide meaningful performance insight are the three Vanguard Advice Select funds.
Vanguard 2021 launch announcement
In particular, Vanguard Advice Select Dividend Growth (VADGX) is desc…
The number of "funds" in 2023 looks more like share classes than actual funds.
The nine style boxes of broad based domestic equity funds add up to 6,918. ICI reports a total of 8.578 domestic equity share classes (including all domestic categor…
Haven't seen the play, but it looks like at least one production runs longer (2:25 + 15 min intermission) than the movie (2:00). That play running length is consistent with a 2008 production described in the NYTimes.
To each one's own.
("Snappier…
A fine choice indeed. We'll have explore to find where this movie now resides in the world of 1's and 0's,
Ah, found it in HBO library for $3.99 rent. Much cheaper than a hamburger, so TIS a good deal.
It's free on Cinema Box (thank you Roku searc…
In case people missed it, the historical arc of increasing government immunity started with the Warren court.
Now I'm going to go and rewatch a movie I haven't seen in many years about the tension between divine right and the rule of law in days o…
I haven't read the decision yet, but it sounds like a logical extension of "qualified immunity". That originally (1967) gave police immunity from being sued for violating people's rights if they were acting in good faith. It was extended (1982) t…
Vanguard automatically closed my final account on Friday, June 28 (less than 14 days before I zeroed out the account), so I won't get charged a fee.
However, on Saturday, June 29, Vanguard sent me a cryptic note saying only that "Your transfer has …
BoA has reviewed [market forecast models'] performance and they have an R-squared of zero. That is, there is zero predictive validity in them
This is good news. No, really. We've become so accustomed to reading stories about how monkeys throwin…
Robinhood has a similar feature (not a one-off promotion) associated with its Gold ($5/mo) subscription service.
https://robinhood.com/us/en/support/articles/robinhood-gold-deposit-boost/
It announced this new feature in March, and the match recen…
Silly me, I invest mostly the same way whether I'm buying OEFs or ETFs. Which raises the question: do people trade more because they invest in ETFs or do people invest in ETFs because they trade more?
I wrote "mostly" because there is a slight di…
Finally - Today I was able to switch my CM account at Fido to the new option, SPAXX ... What could possibly go wrong?
Under "activities" you should see interest from the old bank sweep accounts for June. This money (like all cash proceeds) is aut…
Feel better. Schwab should give you whatever bonus they promised, regardless of your particular situation.
Just be careful about keeping the assets there long enough. That's something you don't have to worry about until well after you have re…
Cash back is not generally considered income, though the $1400 in interest certainly will be.
In most states, insurance companies use credit ratings to determine rates or even whether they'll renew your policy. Not just auto but homeowner policie…
I did (not for $5M - I wish!). Schwab told me that the higher bonus dollar amounts were for transfers from Fidelity but not from Vanguard. Was the offer you received for transfers from anywhere (or even better, from multiple sources combined)?
…
Even when the technology works, it doesn't make sense.
I tried to close our IRAs (empty accounts), but the system refused. Rep finally found that system supposedly waits 14 days after account is zeroed, and then automatically closes it. This is…
You're looking at M*'s economic exposure view, not a the "classic" asset view.
The Economic Exposure View displays the sensitivity of portfolio return to various asset classes. Economic Exposure will model the impact of these instruments based on th…
We've had this discussion before - see DSEEX: 100% notional exposure to stocks, 100% actual exposure to bonds, and (roughly) -100% effective exposure to cash. (Per M*, it's currently -91%.)
DSEEX is a good case study because it is conceptually sim…
There's many a slip 'twixt the cup and the lip.
ISTM that this is a risk whenever a third party is involved. I don't think the problem is with the institutions (fintechs) sweeping money into banks. It's that a third party (here, Synapse) is ser…
Southwest can't figure out yield management in the current travel market.
https://www.tts.com/blog/yield-management-in-the-airline-industry/
If that still sounds like gobbledygook: Southwest is having problems pricing its seats - it's either under…
