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  1. #161
    Quote Originally Posted by fuse View Post
    Had to dig to bring this back to the top.

    Fidelity announces 2 zero fee mutual funds, available starting today.

    One total market, one international fund.

    Clearly there is no history on which to draw relative to performance.

    Curious if the wiser financial minds on DBR have a take- hot or otherwise.
    Definitely a headline grabber from a perception perspective, but with the fees being already ridiculously low at Vanguard, Schwab, etc. (I think the bigger news was honestly Fidelity substantially reducing the expense ratios for its existing index funds), not sure how much it changes the landscape really. Futhermore, of more importance is both the tracking error and if Fidelity puts it lending security profits back into the fund. (Lending security is how Fidelity will still "make money" on the fund, although it's mostly a loss leader to get more people to open Fidelity accounts and pay for more expensive funds/services. But eventually we may see a fund with a "negative" expense ratio). Fidelity's current TSM fund gets about 4-5 bps from lending securities.

    You'll also notice that Vanguard's funds often outperform their index and you might wonder how that's possible as theoretically there should be 1.) tracking error, and 2.) there is the expense ratio. But since they put ALL their lending security profits back into the fund (which increases the price/total return of the fund), those can sometimes overcome the other two things. And their tracking error is exceptionally low since they've been playing the game for so long and know what they're doing. Not saying Fidelity doesn't know what they're doing, and I'm sure the zero fee funds will be fine, but I don't think it's the gamechanger that people are making it out to be and I wouldn't be shocked if TSM offerings from Schwab, Vanguard, BlackRock, etc. do better after fees because of differing "performance" of the two items mentioned above (of course, they also follow slightly different indexes).

  2. #162
    Quote Originally Posted by YmoBeThere View Post
    I bought some GM yesterday and found JNJ interesting today...
    Well, GM isn't going well. A brief spike after the SoftBank investment news, it quickly gave up those gains. Overall, my average price for GM is 40.35, but all is not lost. Between dividends and securities lending activities, I'm up 1.3% on my GM holdings. Not great news but not a loser on paper yet either.

    JNJ I didn't buy until June 6th at 121.53, it is up 8.6% since then.

    I'm probably being petty in another thread.

  3. #163
    Join Date
    Feb 2007
    Location
    Tennessee
    I Agree 100%. On practical basis it is hard to "trade" even moderately actively and have a life. The smart money is ahead of you. S and P ETF, Dow ETF< QQQ ETF, AND RUSSEL 2000 ETF gives you good coverage at low expense ratio.
    Look to the long term.

  4. #164
    Join Date
    Feb 2009
    Location
    Wilmington, NC

    Program Fee

    It's the weekend so I won't hear back from Edward Jones until Monday, so I thought I'd ask here since it's driving me crazy.

    I rolled a lot of different accounts into an Edward Jones traditional IRA 6 months ago. I just realized I've been getting charged a little over $100/month for a "program fee". What the hell is that?

  5. #165
    Quote Originally Posted by left_hook_lacey View Post
    It's the weekend so I won't hear back from Edward Jones until Monday, so I thought I'd ask here since it's driving me crazy.

    I rolled a lot of different accounts into an Edward Jones traditional IRA 6 months ago. I just realized I've been getting charged a little over $100/month for a "program fee". What the hell is that?
    Ouch, not sure what it is but it seems excessive depending upon what you are getting. I have one account at a full service firm(Morgan Stanley) and they charge me $75 per year to maintain the account. I don't trade much with as it is hyper expensive. (So, why do I have the account? Because it is a friend from B-School.)

    If they are providing comprehensive financial planning services such as budgeting, estate planning(including consultation with attorneys where needed), asset management, college financing advice, etc. in addition to asset management, it might be a more than reasonable fee.

    I would see what it will take to move the account or at a minimum reduce the fee.

    I'm probably being petty in another thread.

  6. #166
    GM is still killing me, but looks like I timed J&J well. Up 18.4% when factoring in one quarterly dividend.

    I'm probably being petty in another thread.

  7. #167
    Quote Originally Posted by YmoBeThere View Post
    GM is still killing me, but looks like I timed J&J well. Up 18.4% when factoring in one quarterly dividend.
    I’ve been holding J&J for a while, been a good investment.

    Its not “day one”, I picked up Amazon in May and the return has been quite strong.

  8. #168
    today was bloody indeed...I emailed my broker and said "the Fed kept raising interest rates every meeting, without stopping to see what impact it would have..." and he agreed. He's a pretty big deal with Merrill Lynch and recognized by Forbes....he's clued in.
    Race Bannon can drive ANYTHING!
    --and did you know Tim Matheson broke into show biz as voice of young Johnny Quest?

  9. #169
    Quote Originally Posted by HereBeforeCoachK View Post
    today was bloody indeed...I emailed my broker and said "the Fed kept raising interest rates every meeting, without stopping to see what impact it would have..." and he agreed. He's a pretty big deal with Merrill Lynch and recognized by Forbes...he's clued in.
    We needed a pullback, though, particularly in the tech space. Valuations were getting frothy and corrections can be a good thing -- and a buying opportunity. I still think there's more (bad) to come though, but overall, the US economy is in a good place (and hence the fed is justified in raising rates).

  10. #170
    Quote Originally Posted by Bluedog View Post
    We needed a pullback, though, particularly in the tech space. Valuations were getting frothy and corrections can be a good thing -- and a buying opportunity. I still think there's more (bad) to come though, but overall, the US economy is in a good place (and hence the fed is justified in raising rates).
    I tend to agree about the pullback...but here's the thing...with gas prices and interest rates rising...the economy can tank with that double whammy in a jiff. If the market loses 2-3000 in this little pull back, then throw that on top of all of it. The Fed is raising rates way too fast...after sitting on their arse for ten years. It's a shock to the system.
    Race Bannon can drive ANYTHING!
    --and did you know Tim Matheson broke into show biz as voice of young Johnny Quest?

  11. #171
    Definitely not happy with the losses yesterday.

    This to me is one of the fundamental challenges in investing.
    If you believe your investments are solid, what other strategies can you consider besides ride it out?

  12. #172
    Join Date
    Sep 2007
    Location
    Undisclosed
    Quote Originally Posted by fuse View Post
    Definitely not happy with the losses yesterday.

    This to me is one of the fundamental challenges in investing.
    If you believe your investments are solid, what other strategies can you consider besides ride it out?
    “Buy on the dip”
    1991 -- 1992 -- 2001 -- 2010 -- 2015

  13. #173
    Quote Originally Posted by fuse View Post
    Definitely not happy with the losses yesterday.

    This to me is one of the fundamental challenges in investing.
    If you believe your investments are solid, what other strategies can you consider besides ride it out?
    To ride it out: No perfect solution...because we don't know for sure what "it" is and how long the "ride" will be...but here's one:
    Sell and take profits that were made in last ten months or what have you...come back in slowly to take advantage of dips.
    Race Bannon can drive ANYTHING!
    --and did you know Tim Matheson broke into show biz as voice of young Johnny Quest?

  14. #174
    A few thoughts:

    1) Frothy is in the eye of the beer holder.

    2) Depending upon your portfolio construction, if tossing a position or two will help you ride out a market drop, then depending upon tax consequences, etc. IMHO, by all means do so. Investing and money can be an emotional game. If a small modification make you emotionally feel better, do what you need to do to get to a more balanced state of mind.

    3) Personally, I pitched GM last Thursday and did some more position selling on Friday, Monday, and Tuesday. Sold one big winner (NVDA) and pitched some losers(mainly Emerging Markets). I went from under 1% in cash to a little over 8% in cash over the four trading days between Thursday and Tuesday. Of course I wish I had moved more, but altogether I feel pretty good about it. I may trim a bit more and get closer to 12% cash, but these are the positions that have done well over the last few years and I think the long term stories remain intact(NVDA's very well remain so, but it got super heated and I think can be bought closer to $200 than its current $240s).

    As I type, tame inflation data appears to have placated the futures traders, however, without a change in Fed posture, upside is limited in my opinion.

    I'm probably being petty in another thread.

  15. #175
    Join Date
    Nov 2007
    Location
    Vermont
    I'm selling all my Sears stock today, and buying a 20 ounce soda with the proceeds. (thanksfully i have no sears stock). But seriously one of the most
    epic downfalls of a legendary and once prosperous brand, hideously mismanaged company for years, and the current CEO is a bloodsucking leech. (Stock price: 49 American cents).

  16. #176
    Join Date
    Nov 2007
    Location
    Vermont
    Quote Originally Posted by YmoBeThere View Post
    A few thoughts:

    1) Frothy is in the eye of the beer holder.

    2) Depending upon your portfolio construction, if tossing a position or two will help you ride out a market drop, then depending upon tax consequences, etc. IMHO, by all means do so. Investing and money can be an emotional game. If a small modification make you emotionally feel better, do what you need to do to get to a more balanced state of mind.

    3) Personally, I pitched GM last Thursday and did some more position selling on Friday, Monday, and Tuesday. Sold one big winner (NVDA) and pitched some losers(mainly Emerging Markets). I went from under 1% in cash to a little over 8% in cash over the four trading days between Thursday and Tuesday. Of course I wish I had moved more, but altogether I feel pretty good about it. I may trim a bit more and get closer to 12% cash, but these are the positions that have done well over the last few years and I think the long term stories remain intact(NVDA's very well remain so, but it got super heated and I think can be bought closer to $200 than its current $240s).

    As I type, tame inflation data appears to have placated the futures traders, however, without a change in Fed posture, upside is limited in my opinion.
    Regarding the Fed posture, positive article in the NY Times today about the current yield curve and what it may portend...it's all arguable, of course, but I think it's a good pice...

  17. #177
    Quote Originally Posted by budwom View Post
    Regarding the Fed posture, positive article in the NY Times today about the current yield curve and what it may portend...it's all arguable, of course, but I think it's a good pice...
    LINK?
    Race Bannon can drive ANYTHING!
    --and did you know Tim Matheson broke into show biz as voice of young Johnny Quest?

  18. #178
    Join Date
    Feb 2007
    Location
    Raleigh, NC
    Quote Originally Posted by budwom View Post
    I'm selling all my Sears stock today, and buying a 20 ounce soda with the proceeds. (thanksfully i have no sears stock). But seriously one of the most
    epic downfalls of a legendary and once prosperous brand, hideously mismanaged company for years, and the current CEO is a bloodsucking leech. (Stock price: 49 American cents).
    I suspect Sears is going to take a lot of struggling malls with it.

  19. #179
    Quote Originally Posted by jimsumner View Post
    I suspect Sears is going to take a lot of struggling malls with it.
    Agree in principle but perhaps most of that damage may be done? At this point it doesn't appear anyone is going to a Sears. So, they are no benefit to mall traffic. Some malls would probably be better off with them gone and repurposing the space to somerhing that might generate traffic.

    PS I debated skipping lunch, going all in SHLD and going down to my local store. Dang, all this is mine?

    I'm probably being petty in another thread.

  20. #180
    Quote Originally Posted by jimsumner View Post
    I suspect Sears is going to take a lot of struggling malls with it.
    A lot of Sears properties are locally owned old strip centers, dead malls, not publicly traded companies.
    Race Bannon can drive ANYTHING!
    --and did you know Tim Matheson broke into show biz as voice of young Johnny Quest?

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