To The Moon

The Monarch ProCap Index ETF tracks an index with 6–9 constituents, ensuring broad exposure to U.S. and global markets, including a 10% alternative sleeve. The ETF's strategy includes sector-specific equity investments and diversified fixed-income selections, aiming to optimize returns through market cycle analysis. Along with reviewing the MRPO ETF, I compare its risk and return results against both FBALX and AOR. Based on this limited comparison, while I gave MPRO a Hold rating to give it more time to prove itself, if it doesn't, then a Sell rating would be justified. John M Lund Photography Inc Introduction I recently reviewed the Fidelity Balanced Fund (

U.S. equity markets soared to record highs this week after President-elect Trump scored a surprisingly decisive election victory, including a likely "trifecta" of Republican legislative control in Congress. The outcome sparked powerful moves across global financial markets as investors priced in a combination of domestic-focused and "pro-growth" economic policies but also reflected concern over deficits and immigration policy. Characteristic of the "Trump trade" dynamic, smaller-cap companies led the surge, outperforming mega-cap technology and international-heavy peers. The S&P Small-Cap 600 soared 9%, outpacing 5% gains from the S&P 500. Real estate equities were laggards this week as benchmark interest rates hovered around four-month highs, offsetting some likely longer-term tai

The Fidelity Mid Cap Index Fund is a low cost means of investing in the Russell Midcap Index. Along with reviewing FSMDX, its performance over the past decade is compared to a pair of actively managed Fidelity Mid Cap funds. This results in my giving FSMDX a Hold rating. While Large-Cap stocks are the best performers over the past decade, longer history shows the advantage of some mid cap allocation. Alistair Berg Introduction The last change I made once taking over managing my mother's IRA after my dad passed was expanding her equity exposure beyond Large-Cap stocks by adding the Fidelity Mid Cap Index Fund (MUTF:FSMDX) to

Ahead of a pivotal week of consequential decisions, U.S. equity markets posted a second-straight week of declines as investors parsed a relatively disappointing slate of employment and inflation data. The pivotal Nonfarm Payrolls report showed that the U.S. economy added just 12k jobs in October - the weakest month since 2020 - with notably weaker trends under the surface. Private employment declined by 28k during the month, fueled by the largest plunge in manufacturing employment since the pandemic shutdown, alongside job declines in retail, transportation, and hospitality. Posting its worst week since early September, the S&P 500 dipped 1.4% on the week, further weighed down by a downbeat slate of earnings results from several tech heavyweights. Real estate equities lagged this week,

I reallocated funds into Fidelity Capital & Income Fund for my mom’s IRA, appreciating its high yield and longer duration exposure. FAGIX invests in both equities and fixed income, with a focus on lower-quality debt securities and companies in troubled financial conditions. The fund's current allocation is 23% equities and 77% bonds, with a notable exposure to junk-rated bonds and a WAM of just under 6 years. FAGIX outperformed high-yield bond measures due to its equity exposure, making it a suitable choice for conservative allocation in my mom's IRA. Andrii Yalanskyi Introduction The Fidelity Capital & Income Fund (MUTF:FAGIX) is the last new Mutual Fund I reallocated funds into after taking over the management of my mom's IRA. I

We're at the halfway point of another consequential real estate earnings season, with 77 of the 150 equity REITs and 20 of the 38 mortgage REITs now having reported results. Beneath the interest rate-related volatility, real estate earnings season is off to a solid start. Of the 65 equity REITs that provided full-year FFO guidance, 65% have raised their outlook. Notable upside standouts relative to expectations include Strip Center and Senior Housing REITs - both of which continued to deliver record-setting results with impressive rent growth and occupancy trends. Results from residential REITs have also been moderately disappointing, showing further downward pressure in rent growth in early Autumn. In this report, we assign Halftime Grades to each property sector and highlight some q

Summary U.S. equity markets climbed to record-highs while benchmark interest rates rebounded from eight-month lows on a relatively quiet end-of-summer week as investors parsed a 'Goldilocks' slate of economic data. PCE data showed modest inflationary pressures in July - keeping the Fed on course for multiple rate cuts by year-end - while consumer spending and consumer confidence data topped estimates. Posting gains for a fourth week following a three-week skid in late July, the S&P 500 gained another 0.3% this week. The Dow Jones finished the week at all-time record-highs. Real estate equities continued their recent outperformance this week on indications that the rate retreat will spark a revival across the long-floundering REIT sector. The Equity REIT Index advanced 0.4%. Billboard R

Summary Charles Schwab launches Ultra-Short Income ETF, competing in a crowded market with over $350 billion in assets. The ETF invests in short-term, investment-grade debt securities. SCUS invests in short-term, investment-grade debt securities, with potential for lower yields if the FOMC is expected to cut the federal funds rate. Given where interest should be heading over the near term, the ETF easily qualifies as a Sell rated ETF. Current owners who bought for the safety factors can hold. PM Images/DigitalVision via Getty Images Introduction The current expectation is the FOMC will finally, almost a year after the first hints, cut the Federal Funds Rate. Betting is not if or when but by how much: 25 or 50 basis points. If indeed rates have peaked, long-duration funds or bonds are where

Summary U.S. equity markets rallied this week while benchmark interest rates tumbled to the lows of the year after Fed Chair Powell stated that the "time has come" to cut rates. The dovish pivot, underscored by an emphasis on "cooling labor markets," was further supported by data from the BLS showing that job growth has been far weaker than initially reported. The S&P 500 gained 1.4% this week, lifting the major benchmark to back within 0.5% of all-time record-highs. The Small-Cap 600 and Mid-Cap 400 each rallied nearly 3%. Real estate equities - the most "Fed-sensitive" market segment and weakest-performing sector since March 2022 - ripped higher this week. The Equity REIT Index rallied 3.8% while Homebuilders soared 10%. It was also a relatively busy week of dividend news in the REIT

Summary Light at the End of the Tunnel? Two years of persistent rate-driven pressure on residential and commercial real estate markets appears to finally be abating, not a moment too soon. Amid an otherwise underwhelming earnings season across the broader equity market, real estate earnings results were notably better than expected, providing an added uplift to the rate-driven rebound. Upside surprises at the property-sector level included Retail, Sunbelt Apartment, NYC/Sunbelt Office, Senior Housing, and Industrial REITs. Ten REITs announced dividend increases this earnings season. There were few major "bombshells" this earnings season, but we did observe ongoing pockets of distress among some of the most highly levered REITs. Five REITs reduced their dividends. With recession fears ever-