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.
M* extended methodology is used for many reasons. The second on the list is changing its legal structure.
Last year, QRSIX was moved from one trust run by FPA to another trust run by FPA. Certainly you would not want M* to drop all performanc…
steps - lots of them. Ever hear of escalators?
I was going to add a comment about inaccessibility, but I couldn't find the page I was looking for to cite. NYC is by far the worst system in the country in terms of complying with the Americans with…
decades of corruption and criminality
The scope of the accusations are stunning. Prosecutors say that for almost a decade, Eric Adams abused his power as Brooklyn borough president and later as mayor in order to receive illegal campaign donations an…
Launch a national cryptocoin (pander to rich crypto bros, [negatively] impact the financial system)
But, but ... you don't seem to understand. Impacting the financial system is not a negative, it's a positive to take down the anti-conservative ba…
AP: After just a few hours, U.S. election bets put on hold by appeals court ruling
The Court of Appeals for the District of Columbia Circuit issued an order Thursday night temporarily freezing the matter until it can consider and rule on the issue. …
Have you considered an alternative like NEAR?
Better YTD, 1,3,5 year returns, lower expenses, nearly identical average duration, a positive Sharpe ratio (rare for this type of fund), nearly identical SEC yield, same average credit rating (AA- per…
Here's the wire story. LSST. You can just look at the URL, though the text says more.
https://www.businesswire.com/news/home/20240912751874/en/Natixis-Investment-Managers-to-Close-the-Natixis-Loomis-Sayles-Short-Duration-Income-ETF-NYSE-LSST
TCW MetWest AlphaTrak 500 Fund (M class)
This fund served as a competitor to PSTKX while being slightly cheaper and performing slightly better. It even bested VFIAX over the past decade by a hair, though hugely tax inefficient. But unlike PSTKX…
There are two different figures here, and they may be getting mixed up.
One is interest rate (not yield) assuming daily compounding. The other is total annual return. The former is indeed lower than the stated rate of a T-bill, though the latter…
The fund status is closed to all investors (see prospectus). Only div reinvestments are permitted.
This fund was formerly a State Street Research fund (not to be confused with SSgA). FWIW, there is a sibling fund, formerly SRLAX, now MDFGX. …
I'd skipped over this piece because of its title: Will Active ETFs Outnumber Passive ETFs? I don't care. As the article states, number of funds does not equate to AUM, i.e. market share.
Though as you point out, the piece goes into how these fun…
2 day old piece in the NYTimes on whether Trump and/or other insiders might sell once the lockup period expires.
https://www.nytimes.com/2024/09/09/business/trump-media-stock-lockup-agreement.html
A lot in there. There is some thought that other i…
I also checked ultra-ST FCNVX prospectus & it's still exempt from frequent trading.
As is FMNDX.
The frequent trading rule quoted applies just to Fidelity funds. Other NTF funds purchased at Fidelity are subject to a completely different sho…
Nothing against Duke as a company - I'd rather buy a note from them than a Wall Street company.
Senior unsecured Duke notes are rated Baa2 (Moody's) and BBB (S&P); current Goldman Sachs new issues (Fidelity listing) are rated A2 (Moody's) and B…
Any fresh thoughts re investing a few bucks here?
A number of companies package up variable rate demand notes into bank account-like accounts. Features may vary slightly (e.g. min required, check writing ability, min transaction amount) but the u…
Thanks for the heads-up @WABAC. I have wanted to add-to PRWCX in my 401k at Merrill forever. It would never allow me to do so in the past. I just put in an order to do so. Seems to have been accepted. Has a $49 TF but I'm ok with that. Fingers cros…
I wrote: If there was an announcement about this change, I missed it.
Yup, missed it. I don't generally frequent reddit. From a Fidelity moderator, 10 months ago:
It’s here! We’ve added the ability to automate your stock, ETF, and basket trades…
I suspect there is a setting somewhere that I’m not seeing that would direct them not to process a limit order unless / until all shares requested can be purchased or sold within the limit price set … …
Under "conditions" you can specify "all or no…
@Sven is asking what price is received when a purchase is made automatically, as opposed to being entered by the investor. It's a good question.
Most automatic investments are via DRIP plans. "True" DRIPs are set up with the companies themselves…
Fidelity is repeating what M* reports. You can see what info Fidelity has about each holding in your portfolio by clicking on "Learn more about your asset allocation" under the asset allocation ring in the upper left of the "analysis" page.
"Short…
Kinnel seems to imply you have to subscribe to M* Institutional database to run the screen. I haven't tried it in Fund investor. But why publish articles for individual investors based on a screen only available to high end clients?
It was never p…
Well that's disappointing, though the limit was so low that it doesn't really affect much.
... and losses in US Mail are cited as reasons
If you've got a problem, don't fix it (improve USPS), avoid it.
The USPS lost one of my refund bonds a few y…
If you don't like TRAIX as an example of a fund share class that slipped through the cracks, here's another share class that Kinnel missed: NCRLX.
Kinnel requires just one manager to have invested $1M. It doesn't even have to be the longest tenure…
TRAIX management fee is 59 basis points, still not the lowest quintile. It would have to be below 50 basis points to qualify.
Source?
On the TRAIX M* price page is a bar graph divided into quintiles that labels the price of TRAIX as "low" (first…
Apparently, most but not all of the initial shares are still locked up. On Aug 22, a few execs sold between 3,467 and 84,941 shares @$22.70. Not enough to move the market, but the rats may be lining up to jump ship.
Here's the EDGAR search resu…
But my concerns are the investors who have poor/no knowledge of options but are buying options-based funds thinking that they are all-weather income funds.
Exactly. I've mentioned risk profiles in a few other posts. There's been little response b…
Passive ETFs require daily holding disclosures
A common conception but the rule is actually the opposite. Based on the premise that investors already have a very good if not exact idea of what's in a fund that passively tracks an index, disclosu…
I respectfully disagree.
Kinnel wrote: "purely a screen; I don’t make any additions or subtractions." He says these are "simple, strict screens." Either one can access a particular share class or one can't.
The hoops one must jump through…
Dueling, context-free, mismatched numbers:
Q1/2017 through Q2/2020 vs. Wikipedia's "real wage" figures from the "2017–2019 period".
There's a well known golf saying (a rule, actually): Play it where it lies.
Covid hit during Trump's administrat…
Most of these ratings are machine driven anyway.
True, and that's what disqualifies most funds from the list.
"Funds must be rated by Morningstar analysts". That's human beings, not machines. If you're making a broader statement, that analysts…
RE in general has had a good year.
VNQ
VGSIX
Even FRIFX has moved up 10%ish
The sector's raw performance is good. A rising tide lifted all boats. Relatively speaking, not so impressive.
YTD, S&P 500 RE is the third worst (out of 11) perf…
I don't pay too much attention to sectors, so take the following as questions and observations from someone who knows just enough to be dangerous:
Do homebuilders like Pulte (a name I do recognize from having lived in suburbs) take out short term l…
PRWCX didn't make the cut because its cost isn't much below average. But TRAIX's is, and it is available to individual Summit Preferred Services customers at T. Rowe Price with a $50K min. ("Must be a share class accessible to individual investor…
