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I hope he can be trusted. Meanwhile ... The M* premium stock screener will also be retired on May 2nd.
This screener will be retired on May 2, 2023
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Nicholas Fund. Third ave value. Sogen international. Mutual shares. Of course Fidelity Magellan. Those are just the ones I can remember. But they come and they go.
CNN/Money, THE BEST MUTUAL FUNDS Here Are the Pros' Choices for the Next Decad…
After the dot com bubble burst and my largest holding was down 10% more than the market (i.e. around the figures Lewis is using), I got a cold call from someone pitching professional portfolio management. I still remember my response: I already ha…
Down-years are to be expected from time to time
Lean years, sure. Down years, not so much. Aside from last year, the last calendar year in which PRWCX lost money was in 2008, when it lost 27.17%. The only other calendar year in which it lost …
It would seem to mean little more than average investors fleeing investments at their low points only to buy back at higher prices. Add this data point to the "even more evidence about not beating the market" thread.
PRWCX bottomed out on Oct 12t…
This is is ground-shaking. Amazon revolutionized publishing in 2007 with the release of the Kindle e-reader, the first of its type,
Half correct. Amazon popularized e-Readers, but it wasn't the first. It wasn't even the first of the second gen…
It's more than simply an AUM-weighted average of fund returns. It considers cash flows - investor dollars going in and out - and calculates how much each extra investor dollar earns. That's still asset weighted, though the assets being weighted …
It's easy to see that REITs and MLPs get different tax treatment. The former falls under corporate tax rules (with significant exceptions), while the latter falls under partnership tax rules.
REITs are defined in the tax code (26 U.S. Code §85…
I'm writing about tax code and generalities while you're presenting specific tax situations and experiences. We're simply talking at cross purposes. As we're coming from different perspectives, I'm fine with agreeing to disagree. That doesn't …
The ability of LP's in a real estate private LLC to get the benefits of depreciation that shields most of the tax impacts of the distributions is massive.
I think you're talking about the LLC members who are not managing members. For clarity it mi…
The Journal of Accountancy article from 1997 isn't relevant in today's world especially after the rise of crowdfunded CRE following the JOBS Act in the 2010's
That article discussed the alteration of tax benefits (notably pass through of losses) in…
Or perhaps poor management. Walmart put up with losses there for 17 years, since day one, and then gave just five days notice before shutting down the stores. Not an indication of good planning skills, and certainly not good public relations. …
A couple of clarifications (perhaps):
- The termsheet that Shadow provided says that minimum additional investments are $5K, but doesn't say that these additional investments are required or that they can only be made on a monthly schedule.
- The …
Bloomberg has great article on chaos at IRS but behind their paywall.
The Washington Post has a great op-ed along with pictures about how archaic the IRS system is (dating back to the 1970s, though they do have a computer running Windows XP). I b…
Some of the MMFs settle same day, some next day. This is likely not unique to Merrill. Further, each fund has its own trading cutoff time, well before 4PM. If you place an order after that cutoff time, you'll get an order acknowledgement readi…
@Sven, thanks for pointing that out You used an important phrase: "out-performing their respective index". The WSJ didn't compare all 1,257 "qualified" (over $50M AUM, 3 year record) actively managed domestic equity funds to their respective ind…
Consider thinking outside the box, or in this case, outside of Schwab and brokerages in general.
Hyperion Bank CDs (new money, available online, taxable accounts only):
- 19 mo CD, 5.35% rate, 5.50% APY
- 13 mo CD, 5.12% rate, 5.25% APY
https://w…
Fido Brokerage Bill Pay went down a few minutes ago. Just came back, but lost work I had entered shortly before it went down.
I didn't capture the first error message. The last error message was:
503 Service Temporarily Unavailable
Agreeing with @Observant1's comments: Thomas Coutts has been the lead manager on the pure Baillie Gifford international fund, BGETX, since inception. Until 2021, that fund tracked VWIGX extremely closely (see Portfolio Visualizer graph).
The r…
@hank, only the precious metal funds may own physical commodities.
Thanks. Guessing it’s a SEC limitation?
My impression is that this is more of a pragmatic limitation than a legal one. There are certainly additional legal constraints on owning…
It looks like the instructions are the same, aside from Yogi's edit warning to check a box (either savings or checking) rather than leave it blank.
Reiterating my prior warning - it looks like refund money that is sent electronically will be applie…
I don't get fascination in yield for its own sake. Why would one pay (in the form of negative total return) just to get some of one's own money back as divs?
Lifetime total return of TSLY (using Yahoo's adjusted NAV figures) -1.6%
Nov 23 - Apr 3,…
The price cap is no longer a real cap if the 2nd richest economy needs an exception.
GDP as a whole is a meaningless number. GDP per capita is the meaningful number.
Is that Liechtenstein (World Bank 2020 data) or Ireland (Visual Capitalist, 2023),…
Japan's Sakhalin exception was done LAST YEAR while formulating the oil price-cap policy, https://english.kyodonews.net/news/2022/11/b7ea9d8ec6d2-us-excludes-oil-for-japan-from-russias-sakhalin-2-from-price-cap.html
The NEW price-cap exception for…
The price cap is no longer a real cap if the 2nd richest economy needs an exception.
Here’s a look at every country’s share of the world’s $101.6 trillion economy:
Rank Country GDP (Billions, USD)
#1 United States $25,035.2
#2 China $18,321.2
#3 …
Also helping Europe is an accelerated shift to renewables as well as an offsetting return to coal.
European Union leaders said the war has had a silver lining in terms of moving the bloc forward on targets for renewable energy. Countries that were p…
TD has told me (on the phone) that one can buy I-bonds electronically with refunds. I have no doubt one is able to purchase bonds electronically this way. But I remain skeptical about this procedure enabling one to purchase additional $5K in savin…
Thrivent Partner Small Cap Value Fund, TPSIX merged into Thrivent Small Cap Stock TSCSX in 2015.
Thrivent Partner International Stock Fund AAITX merged into Thrivent Partner Worldwide Allocation TWAAX in 2011, which was renamed Thrivent Internation…
Just as Vanguard Flagship customers ($1M+ invested in VG funds directly at Vanguard) may open new Primecap-managed fund (VHCOX, VPMCX, VPCCX) accounts, T. Rowe Price Summit Select customers ($250K+ invested in TRP funds directly at Price) may open n…
That would correspond with the two emails I got from Fidelity 11:45PM Friday evening:
(1) FCONX has closed to new investors
(2) FCRDX has closed to new investors
FCRDX shares were likely moved to FMNDX.
Fidelity's web page(s) may be a little slow …
The existing money probably also gets a floating rate. It's just that the floor is 4%.
Earlier this year I liquidated a cash acccount (taxable) I had with an insurance company that was providing me a variable rate guaranteed not to be lower than …
I thought I knew what stable value funds in a 401k were. I used them for years, but what you show looks to me more like an annuity.
Stable value fund is available in my 401(K) plan. It is an insurance product that invest in short term treasurys but…
I might have pointed to Larry Summers as the Democratic poster boy for deregulation. Between 1992 and 2001, Summers held various positions in the US Treasury Department, including that of Treasury Secretary from 1999 to 2001. Summers has described…
You can also hold the paper bonds yourself, perhaps in a safe deposit box.
The mail in process isn't hard, though a tad more tedious than one would like. And you only have to create that second account once.
As I've posted before, the USPS lost …
Lewis is right, I"ve done this. The conversion is easy but a nuisance.
The TreasuryDirect instructions are here:
https://treasurydirect.gov/savings-bonds/manage-bonds/convert-paper-to-electronic/#id-how-do-i-convert-my-ee-or-i-bonds--508815
Ba…
If there is any place where the vulnerabilities of the system to runs and fire sales have been clear-cut, it is money market funds.
...
Even without a fixed NAV, liquidity mismatch in other kinds of funds can still make them vulnerable to runs and …
Everything lost money last year, as you noted. VWINX was in the top decile in 2022.
https://www.morningstar.com/funds/xnas/vwinx/performance
Not so great YTD. At least part of that is due to its mandate - generate income. On the equity side, i…
Be careful what you ask about. You might get more than you bargained for :-)
There were a couple of exceptions to the "usual" step up rule in the past, there's one current exception (in timing), and potentially one in the future. Perhaps othe…
It's a variant of TBTF bailouts. If the bank's insolvency doesn't rock the boat, it goes under. But if it is large enough to affect the financial structure .... A variant of the aphorism:
If you owe the bank $100 that's your problem. If you o…
