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My Roth IRA is mostly with T Rowe Price but I’ve gradually been moving from TRP to Fidelity funds. I’m ticked at TRP for not letting me invest in PRWCX even though I’ve invested with them for 30+ years.
A very long time ago (more than 30+ years), t…
In December 2021, the American Academy of Emergency Medicine Physician Group (A.A.E.M.P.G.), part of an association of doctors, residents and medical students, filed a lawsuit accusing Envision Healthcare, a private-equity-backed provider, of viola…
ML's reps are certainly hard working and enthusiastic. Unfortunately, they have a poor platform supporting them. That extends to the promotion you're referring to. I'm glad your participation went smoothly. Mine was more bumpy.
I called three…
TRP OEF to Fidelity OEF: Fidelity will only let you exchange 90% of one family's OEF (here, TRP) to another family's OEF (here, Fidelity). And the amount must be denominated in dollars (i.e. 90% of less of the current value of the TRP holding). …
A famous, or should I say infamous, example of ETF pseudo-clones diverging from the originals is Pimco's Total Return ETF (BOND, originally TRXT). Out of the gate, it outperformed PTTRX by using odd lots (only practical for small funds) and mispri…
@hank :-) Cute cartoon. Bears looking skyward like that for dips brings to mind Ursa Major (the Big Dipper, aka the Great Bear) and Ursa Minor (the Little Dipper aka the Lesser Bear).
Well! TCAF exceeded PRWCX today. What could be merrier?
TCAF +1.21%
PRWCX +0.95%Don't forget PRWCX has a lot of fixed income in it --- so it won't ever move in tandem with a pure equity fund. But sure, it's nice to see on its opening day. :)
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Many brokerages charge for both buy and sell fund transactions. Back in the dark days (pre-2019) when most brokerages charged stock commissions, they charged fees on both ends. Should funds be any different?
As I recall, it was in the 1990s tha…
Did Fidelity say exactly that exchanging more than 90% of a fund violates a securities rule (either FINRA or SEC), or did Fidelity say that one risks violating a rule should proceeds fall short of the buy?
Note that regardless of whether one is doi…
"Being forced to print out statements only transfers the cost of the statements from the brokerage to you, the customer"
It also saves the cost of envelopes and the cost of physically moving the paper statements. (There's the added cost of gettin…
Since Sept 2022, opting into e-delivery only gets some annual fees waived. To get annual mutual fund fees (legacy platform) waived, one must meet the minimum Vanguard investment requirement. In 2022 that was $1M; it is about to go up to $5M.
Mut…
But no issues in margin a/c - may be a hit of 1-day interest on mistakes involving OEFs (T+1 settlement) and ETFs (T+2) settlement).
That's exactly the reason that I turned off margin. I want the system to tell me if I've made a mistake. Before…
“The foreign tax withholdings are lost money in an IRA.”
... Why should I care that my mutual fund, held in an IRA, has to pay these taxes as normal business expense? It's not lost. It's part of the funds expenses that translates to my total retu…
If that T-bill was sold out, the order shouldn't have been filled.
At the auction, Treasury first accepts all the non-competitive bids that comply with the auction rules.
Then, we accept competitive bids based on their rate, yield, or discount marg…
ORFN has 52 holdings.
So on average, each holding is weighted about 2%,
Chevron (CVX) is 4.34% of the fund, i.e. roughly overweighted by 2x.
iShares ESG Aware MSCI USA ETF (ESGU) has 304 holdings.
So on average each holding is weighted about 0.33%.…
Here's the proxy for 12 Fidelity funds to become non-diversified. There may be an unrelated 13th fund floating around somewhere.
https://www.sec.gov/Archives/edgar/data/35348/000120677423000176/fgf4137113-def14a.htm
Sometimes, not always, one ca…
Maricopa County (Phoenix) is number 1 with a bullet for heat.
Rhodium Group researchers estimate that under the RCP 8.5 scenario, between 2040 and 2060 extreme temperatures will become commonplace in the South and Southwest, with some counties in Ar…
Homeowners may choose to simply go bare.
https://www.nbcnews.com/id/wbna17692537
That has long been the pattern with one natural disaster, earthquakes:
The top three markets in the country — California, Washington and Missouri — highlight how unpre…
Are you referring to TF mutual funds trading fees? See (from 2011):
https://www.onlinebrokerrev.com/2011/02/broker-mutual-fund-fees.html
Often when an old fee schedule is grandfathered, the entire fee schedule is preserved. When TDA grandfathered…
Brokered CDs really are FDIC-insured CDs (if they ultimately trace back to an underlying FDIC-insured bank). More than you ever wanted to know about how this works:
Brokered CDs are CDs issued by banks via a "master CD" to deposit brokers [like Sc…
What's the point in shooting the messengers? Vanguard erred and was slow to correct things.
The errors that customers saw on their statements were not in reported 7 day SEC yields. Rather they were in "the estimated annual yield and annual inco…
I never paid attention to a subsidiary called "Vanguard Marketing Corp."
"Brokerage assets are held by Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC."
https://corporate.vanguard.com/content/corpora…
If Vanguard hires a single subadvisor for, say, 0.50%, and that subadvisor has its own branded funds that it charges 1% for, what is the motivation for investors to buy any of the subadvisor's higher-cost branded funds? A single sub-advisor Vanguard…
A fund's board is responsible for hiring the fund's advisor(s). It may be a distinction without a difference, but at Harbor, a board hires the fund's advisor, which in turn hires the subadvisors. In contrast, at Vanguard a board hires multiple a…
All the bonds will gradually converge on their face value at maturity. So the 0.625% bonds, with a current price below face value, will continue to gain value as you said.
The 4.25% bonds are currently priced slightly above par. So their market …
Crocker Bank - for which Paul Williams and Roger Nichols wrote We've Only Just Begun.
https://www.cheatsheet.com/entertainment/bank-commercial-inspired-the-carpenters-weve-only-just-begun.html/
The Crocker commercial, performed by Paul Williams:
…
@MikeM If you're thinking about doing a full transfer of an account to Fidelity, it would be better to wait until the account is officially a Schwab account. TDA charges $75 for a full transfer, Schwab "only" $50. At Fidelity full transfers are …
That ability of a fund to request information is a direct result of the market trading scandal:
The market timing and late trading issues of the mid 2000’s were caused, in certain cases, by the lack of transparency regarding beneficial mutual fund o…
Even with no change in market rates, bond prices change. This is most obvious with zero coupon bonds. They are sold at a discount and one gets yield from price appreciation.
As bonds get closer to maturity, their prices gradually converge to pa…
"Although usually forbidden if you're buying directly from a fund company, an existing shareholder of a closed fund at an outside broker can transfer a share to you without the fund company knowing about it. Once in, you can add to your position."
…
PIMIX hasn't had a cap gains distribution since 2015, so all else being equal, a similar fund with an ETF structure does not seem likely to be more tax efficient.
[Because of the way tax efficiency is calculated, if you have two funds with equal gr…
Vanguard is testing out two different cash programs. One is a bank sweep option for brokerage settlement accounts (Vanguard Cash Deposit). The other (Vanguard Cash Plus Account) provides enables bill payment but only via ACH pull (no checkwritin…
The way brokerages service cash accounts (variously called "transaction accounts", "core accounts", etc.) is confusing by design. Sweeps happen automagically (pay no attention to the man behind the curtain), and investors are not supposed to conce…
Thanks for reading. I'd wondered if anyone would slog through that.
WIth the Treasuries, remember that they are state tax exempt. That could mean a lot (around half a percent of net yield) in a high tax state.
As far as the banking sector go…
The 2019 ProPublica piece is out of date. The IRS announced significant changes Monday [Dec 30, 2019] to its deal with the tax prep software industry. Now companies are barred from hiding their free products from search engines [as reported in the …
s-l-o-w-l-y try to explain why an investor, going forward, should invest in either taxable or municipal bond funds in their portfolio's fixed income sleeve instead of say, 5-yr, 4.50%, non-callable CDs.
But please leave out the widely understood…
Fidelity Flex® funds are a lineup of Fidelity mutual funds that have zero expense ratios, and include proprietary active and passive funds. Flex funds are currently available only to certain fee-based accounts offered by Fidelity, like Fidelity Go®.…
It used to be (until 2015 or so?) that Vanguard would provide Voyager Select and Flagship customers with a free financial plan. After reviewing the basic survey that a customer filled out, a CFP would discuss the customer's situation over the phon…
No personal experience. I suggested Vanguard to a couple of people who are using it now, so I get a bit of feedback that way. They are primarily using it for asset and cash flow management. I don't know how much in the way of general financial …
Look at Chicago, getting choked by the pension costs and debt service....just like virtually all democratic run cities in the USA.
There's no question that Chicago's pensions are way underfunded - its four unions have funding ratios ranging from ju…
