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I think you meant: Your job, should you decide to accept it ... This portfolio will self destruct in five years :-)
While active management (I'm a big fan of Wellington) can add some value its impact is marginal compared with the effect of allocat…
Is the object is to get the maximum return for the minimum volatility (which IMHO is not the same as risk, but a subject for another day) with a traditional fixed allocation? That seems to be what's implied by the observation that a 20/80 allocati…
I believe the unnamed article referenced is one from Prof. Snowball:
Investing in 2022: The Indolent Portfolio (Jan 2022), citing
The case for a stock-light portfolio, version 4.0 (April 2021), or
Mutual Fund Commentary Nov 1, 2014
They all referen…
FWIW, the investment manager, IndexIQ appears to have thrown in the towel with respect to index construction.
This fund currently tracks the IQ Real Return Index, developed by IndexIQ LLC. This index targeted a positive real return. The index is…
It is complicated. I am not sure why there is so much focus on the "4%" rule when the IRS forces people over 75 to remove 4.07% of your retirement accounts. By 80 it is up to almost 5%.
This conflates 4% of starting amount (inflation adjusted) wit…
M* makes it easy to look up recent performance of the top 25 holdings. Or in the case of LLPFX, all 17 equity holdings. One can go to the M* legacy holdings page for a fund, get links for each of the top 25 holdings, click on those links and from…
While I have a slight personal preference for Fidelity, Schwab is an excellent brokerage and currently shows 3,164 funds there that are open to new investors with a min of $100 or less. Good for starting out.
Though a good approach might also …
Conservative-allocation (CA2) 30-50% VTMFX +12.63%.
VTMFX looks even better when one considers that the income side is federally tax-exempt.
Interesting factoid I wasn't aware of from M*'s writeup of the fund:
"they have to maintain at least 50% …
ytd VONE + STIP 50-50 = ½ x 25.48% + ½ x 5.38% = 15.43%.
That would not be the best way to do the calculation since the lack of rebalancing implicit in the arithmetic would see the equity allocation drift up toward:1.2548/(1.2548 + 1.0538) = 54%. …
I feel that the perceived decline in fund fees is largely illusory once one controls for: payment to advisors (which has been externalized, moving the source from 12b-1 fees and loads out of the funds to separate wrap fees); the increase in the rela…
Without giving it too much thought, the fund site comment might be suggesting that fund's behaviour due to its use of short term options is somewhat like that of leveraged/inverse funds that reset quarterly. That is, the risk/return profile is as …
You're correct that the management completed clawing back its fees. From the annual report:For the year ended April 30, 2021, the Investment Manager has fully recovered all of its previously waived fees totaling $401,308. For a period not to excee…
CTFAX is an example of a fund that tacks a management fee (0.10%) on top of its expenses including its acquired fund expenses (0.40%). It has put a temporary cap of 0.50% on fees excluding the acquired fund fees. When you add back the acquired…
Regarding the 1.85% fee - there's actually a cap in place of 1.45%. But this excludes the cost of acquired funds (0.57%). That's enough to drop the remaining expenses below the cap which in turn allows the fund to claw back previously waived fee…
Hard to tell if Carillon Tower has anything strategic in mind. It acquired Scout Funds (including its subsidiary Reams) in 2017 and left the management in place. But it used those funds as acquiring funds to merge two non-Scout funds into oblivi…
For context, the source of the figures is Morningstar. See, e.g.
https://www.morningstar.com/articles/1072421/existing-trends-in-us-fund-flows-hold-in-november
As Vanguard's total AUM of $7.2B is significantly more than the total AUM of iShares,…
@yogibearbull - Thanks for the update. You're right of course that most of the money has been flowing into index funds.
It has gotten much harder for active funds to compete with index funds. That's especially true in the larger cap space whe…
I have a friend who owned a condo (not a co-op) in Ocean Grove - a town where the land is owned by the Ocean Grove Camp Meeting Association of the United Methodist Church.
https://www.charitynavigator.org/ein/210652120
Leases there are typically fo…
too many! All VG active funds (33% of VG business) have outside advisors
Could you source this figure? Vanguard suggests a much lower percentage for its whole business. $1.6T/$7.2T = 22%.
Few people realize we’re among the world’s largest active…
I was sure Chartwell sounded familiar. Finally found the thread. Chartwell grew its fund business by acquiring Berwyn funds in 2016. It appears that prior to that it had been offering only two funds itself, though it was managing portions of tw…
Actually, and as noted in the SEC proposal, "Government funds are [currently] permitted, but not required, to impose fees and gates." So technically some parts of the SEC proposal have scope beyond prime & muni m-mkt funds.
Pragmatically, …
TRP told me that they will convert all eligible accounts to institutional class shares in January, but that upon request they will do the conversion now.
There 'Sales Charge' is $35 compared to Fido's $49.95 so that's better.
As I understand it, that's $35 to buy or to sell, as opposed to Fidelity's fees, which range from a high of $75 (to buy shares of Vanguard, Schwab, and D&C funds), to $49.…
What I experienced was exasperating and not well handled, but it was the exception.
So long as transactions have been ordinary and haven't deviated one iota from the norm, I've not had problems. But once one introduces even the slightest varia…
Brokerages do not seem to designate Rolledover Roths as such. All the brokerages I know just have Roth IRA but no Rollover Roth IRA and Roth 401(k) funds are rolled over to a Roth IRA account. Why is there this distinction between Traditional vs …
and you do have to file a separate partnership tax return on March 15 that is hard
Single member LLCs may be treated as "disregarded entities" by the IRS; they have no partnership tax returns to file.
https://www.irs.gov/businesses/small-businesses…
As we're looking at protection given to rollovers by the BAPCPA, we're talking about bankruptcy proceedings. Some retirement assets (employer plans, money rolled into IRAs, another $1.36+M in IRAs) are protected, but this money becomes fair game i…
Generally speaking, umbrella policies don't cover health care.
Umbrella insurance doesn’t cover your own injuries or property damage — you’ll need other types of coverage for that (such as health insurance or collision coverage on your auto insur…
Disregarding state law protections, IRAs of every ilk including conduit IRAs have less protection than employer plans.
Employer plans are usually covered under an anti-alienation rule that prohibits them from turning moneys over to creditors or p…
I thought that TRP and Vanguard were finally done with this simple(?) transfer. Surprise! Yesterday Vanguard submitted a couple more transactions without notifying me. On the bright side, what Vanguard did was finally clean up things correctly.
…
TRP rejected a purchase of a closed fund using cash from outside. As far as TRP was concerned, that cash could have been coming from a bank, from a fund company, or from Alpha Centauri. It shouldn't matter. Cash is cash, and that is what they …
This is about converting an existing account at an institution to a brokerage account at the same institution. Was that your experience, or did you transfer assets to an account at a different institution? In reality, all that transfers between …
I have joined carew338 in abandoning Vanguard for anything other than their funds that are unique are Admiral class or that I have a large capital gain in.
Why not transfer the non-Vanguard holdings in kind to another brokerage?
It's cheaper to…
Most Medicare Part B participants pay a premium that covers 25% of the actual cost of the coverage. (The government picks up the rest, using general tax revenue.) In 2021, that 25% comes to $148.50/mo, or $1782/year.
If one's MAGI¹ (AGI from lin…
I feel that longevity insurance is one of the few useful products that the financial industry has created in the past several years. That said, if it's not a product that you are interested in independent of tax considerations, then buying a QLAC i…
The question can be split into two parts:
1. Best time during a given year
2. Best year
1. In theory, the best time within a year to convert is when your T-IRA portfolio is at its nadir. Which is great if you can see into the future.
Pragm…
Tickers for the affected funds (R6, the lowest cost share class, is given since that should be closest to post-conversion ETF):
•JPMorgan Inflation Managed Bond Fund JIMMX
•JPMorgan International Research Enhanced Equity Fund JEIQX
•JPMorgan Market…
@hank - Aside from a minor nit, I agree with you. Though a fund that's 94% long and 6% short is net 88% long. TSMRX (equity) is 31.74% long, 37.54% short, for a small net negative position of -5.80%.
What you wrote about the quality of bonds be…
