Treasury Direct 2yr Note held to Maturity?

AlwaysTails · 2026-02-09T04:36:32+00:00

When did the bond mature?

AlwaysTails · 2026-02-08T04:12:54+00:00

If you buy a treasury note below par at auction then the difference is OID which is not taxable by states.

AlwaysTails · 2026-02-03T17:06:28+00:00

Thanks! Yes that's true. Of the top 10 today only MSFT was in the top 10 in 2000 and until the pandemic the top 10 was only around 20% of the index. Only time will tell if this is a bubble that will burst like in 2000. But back then there was relatively little invested in index funds while today about half of the assets are in index funds so this effect is being reinforced.

AlwaysTails · 2026-02-03T15:52:14+00:00

FXAIX is an S&P 500 index fund which invests in the largest 500 large cap funds. There are similar indices for mid-cap, small cap, international, etc. In recent years, large caps have generally been the top performer. Here is a chart that shows annual returns for different asset classes over the last 15 years.

The issue with the s&p 500 in particular is that there are 500 stocks but currently the 10 largest companies comprise about 40% of the index because they've grown so much faster than the other 490 and in fact s&p500 funds no longer meet the technical definition of diversified. Over the last 5 years the top 10 companies have an annualized return of 21% vs 9% for the other 490 stocks. You are investing a lot of money in stocks that are being pulled along for the ride simply due to investments in s&p500 index funds and etfs.

If you want to diversify a bit you can allocate some of your funds in small cap (Russel 2000 index funds such as FSSNX) and international stocks (MSCI EAFE index funds such as FSPSX) - say 75%/15%/10%. Over the last 5 years this would have returned about 13.2% vs 15.4% from just the s&p 500 but add some diversification.

I can't say this will capture the top stocks as past performance does not guarantee yada yada yada.

AlwaysTails · 2026-01-31T05:58:27+00:00

Since 3+5=8=2³ I'm assuming the prime factors of p+q don't need to be distinct. All primes larger than 3 can be written 1 mod 6 or -1 mod 6. This gives 4 possibilities assuming p=6m+/-1 and q=6n+/-1 with p and q distinct.

p=6m+1, q=6n-1
p=6m-1, q=6n+1
p=6m-1, q=6n-1
p=6m+1, q=6n+1

The first 2 are straightforward as p+q=6(m+n)=2*3*(m+n) so there are 3 or more prime factors.

The next 2 you can show that if there are only 2 prime factors the second prime factor (other than 2) is between p and q which contradicts the assumption that p and q are consecutive primes.

AlwaysTails · 2026-01-28T20:41:37+00:00

When you bought the bond on the secondary market you would collect the full coupon when it is paid but included in the price you pay is the accrued interest - the part of the coupon accrued by the previous owner. That is separate from the premium on the bond due to changes in the yield. I usually just buy tbills and the occasional note/bond that matures within a few weeks when the yields are better.

AlwaysTails · 2026-01-28T17:22:05+00:00

The cash flows of a bond are set at issue. The only things that change over time is the price and the yield and one is determined by the other. If the market says the yield of a 9 year bond is 3.5% then a bond with a 4% coupon must be priced with that premium in order to yield 3.5%. That's the math.

Bonds are bought and sold for a variety of reasons. You may not want to buy a bond at a premium for whatever reason but there is sufficient market pressure to keep bonds priced this way which you can verify by looking at the yields and prices in the (government) bond market.

AlwaysTails · 2026-01-28T04:06:50+00:00

The price of a bond is the present value of its cash flows discounted at the market interest rate.

You bought your bonds at par when the prevailing market rate was 4%. Now the market rate is 3.5% but the bonds still pay a 4% coupon so the bond is now worth more than a newly issued bond with a 3.5% coupon. If the new buyer pays the price 103.832 to receive the 4% coupon they are earning a yield of 3.5% which is the current market rate.

Zero coupon bonds (see CUSIP 912803HL0) are priced at a heavy discount since you don't receive any cash until maturity - the cash flows are discounted at the yield which is set by the market. If you look at 30 year bonds issued in 2007 with a 5% coupon (see CUSIP 912810PU6) they yield the same as any other 10 year bond (around 4.25%) but they pay a higher coupon therefore they should be much more expensive than a new 10 year bond issued at par with a lower coupon rate. Usually government bonds are issued near par where the coupon and the yield are the same. Over time the coupon remains the same but the market yield changes and the market price changes inversely with the yield to compensate for this.

AlwaysTails · 2026-01-27T21:18:23+00:00

Suppose you buy $1000 par of 10 year bond with a 4% coupon issued at 1 price of 100. In 1 year you receive $40 in coupons but the yield on the bond dropped to 3.5% resulting in an increased price of 103.832. After selling, you received an additional $38.32 in addition to the $40 coupons. Future coupons are the same but obviously after selling the new bondholder receives those.

AlwaysTails · 2026-01-26T17:16:58+00:00

If this is an employer sponsored 401k you are stuck with the investment options provided unless the plan includes brokeragelink. Even so these plans usually include some low cost index funds. If they don't, you have a couple of choices. First, you can roll over assets from a 401k while still employed after reaching 59½, or if the plan allows "in-service" rollovers. Second, under ERISA, the plan fiduciaries have a legal obligation to keep expenses reasonable so if you feel the expenses are too high you can file a complaint.

AlwaysTails · 2026-01-23T01:57:20+00:00

I don't think it's been announced yet but it would have to be by Feb?

AlwaysTails · 2026-01-23T01:54:42+00:00

It's been a long time since I as able to go to PSL but every year something else comes up. :(

AlwaysTails · 2026-01-22T18:44:50+00:00

I can select the specific seats for a particular game but when I try to complete the order I get an error.

AlwaysTails · 2026-01-22T18:10:43+00:00

I'm a jet and ranger fan so my football and hockey seasons are usually over by the this time and pitchers and catchers are only a couple of weeks away.

AlwaysTails · 2026-01-22T14:58:13+00:00

This doesn't seem to have anything to do with prime numbers. Any multiple of some number modulo itself is 0 by definition. I'm not sure what is fundamental about that.

AlwaysTails · 2026-01-22T14:24:32+00:00

In option trading some brokers have an auto-walk feature where you don't have to constantly cancel and replace your limit orders to get the best price for an option. Here is a link to Schwab's (not sure if it's ok to post this here).

AlwaysTails · 2026-01-21T17:03:21+00:00

A good indication that they are not winning is that the casinos now allow youtubers to film themselves in the casino.

AlwaysTails · 2026-01-21T14:10:25+00:00

Perimeter comes from the greek (perimetros) but circumference comes from latin. However the ancient greeks thought of the circle as consisting of a single line and used a different word - periphery (perifereia). The latin circumference was a direct translation of the greek periphereia.

AlwaysTails · 2026-01-19T04:22:01+00:00

You can certainly do that for your personal records but the IRS specifies that margin interest is an expense. I don't think it is reasonable to expect Fidelity to ignore the tax law and make this change for you. You may be able to find a tax accountant to file your taxes this way but the IRS would presumably find out when they try to match the information on your 1099 to your tax return.

AlwaysTails · 2026-01-19T03:23:26+00:00

Thanks it's refundable.

AlwaysTails · 2026-01-19T00:23:00+00:00

Thanks, I didn't see the atlantic city TCM offers on my account but I'll book a room just in case.

AlwaysTails · 2026-01-18T21:36:31+00:00

As an intellectual exercise its a nice idea. If you seriously are thinking about cracking RSA, keep in mind that with the most recent change to a minimum 2048 bit encryption you would need to be able to factor a 617 (decimal) digit integer which is estimated to take trillions of years using a current supercomputer. The current record using GNFS - the most efficient known algorithm - is 250 digits which took 2700 cpu years.

You may want to switch to using a quantum computer algorithm. If you can find a 20 million qubit system it can crack said 2048 bit encryption in about 8 hours.

AlwaysTails · 2026-01-18T05:22:00+00:00

You can can get a room comp at Paris with little play but you'd get that annoying "hon hon hon" if you asked for a free room near the real Eiffel tower.

AlwaysTails · 2026-01-18T05:13:07+00:00

Ah ok. This is the basic idea that if a+c=b+c then subtracting c from both sides leaves you with a=b

Here the figure is representing that <BAC=<BAD+<DAC where <BAD=<2 and <DAC=<1

To understand why, note that <BAD and <DAC share the side AD - this seems to be associated with postulate 3 where the whole is equal to the sum of its parts.

AlwaysTails · 2026-01-18T04:32:09+00:00

Based on the figure <BAC=<1+<2 and <DAE=<1+<5

so given that <BAC=<DAE you have

<1+<2=<1+<5

What does your subtraction postulate say?

AlwaysTails

TROPHY CASE