Author Topic: Sequoia Fund Investor Day Transcript  (Read 28026 times)

Jurgis

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Re: Sequoia Fund Investor Day Transcript
« Reply #80 on: May 24, 2018, 12:38:25 PM »
I thought Sequoia reopened the fund after Valeant disaster. Fido says the fund is closed. So did they never reopen or did they reopen and then close again really fast? I tried searching the news but my Bing/Google-fu was not up to chops.  ::)

Edit: Morningstar page says SEQUX is open. Should I try to kick Fido about wrong info or is there more to the story? Anyone knows?
Edit2: Maybe it is only open if you go directly to SEQUX and not if you go through brokerage?
Edit3: Sequoia page has a link "open an account". I clicked up to the point where it asked for SSN. So I guess it is open for new investors directly? I still did not find any info if they restrict purchases through brokers.
« Last Edit: May 24, 2018, 12:48:25 PM by Jurgis »
"Before you can be rich, you must be poor." - Nef Anyo


lschmidt

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Re: Sequoia Fund Investor Day Transcript
« Reply #81 on: May 24, 2018, 01:06:09 PM »
The Sequoia Fund is open, but not through Fidelity. You can invest with them directly or through other brokerage platforms.

stahleyp

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Re: Sequoia Fund Investor Day Transcript
« Reply #82 on: May 24, 2018, 02:31:32 PM »
SEQUX is available on other mutual fund supermarkets (TD Ameritrade and Vanguard). I assume they won't pay Fidelity's bookkeeping fee (or whatever you'd like to call it). Just a fun fact about these "supermarkets." The No Transaction Fee funds usually pay around .40% to the platform. I think the Transaction Fee (TF) funds pay around .15%-.25%. If you look at Fidelity, most TF funds have a $49.95 fee for buys. There a couple firms - Vanguard and Dodge and Cox  that cost $75. I'm assuming these guys pay even less if anything (supposedly Vanguard doesn't pay anything and I think Dodge and Cox pays .10%). I'm not sure what SEQUX doesn't follow that path. I'd imagine they want to pay 0% (or close) like Vanguard but Fidelity makes an exception because well, they don't want to turn away Vanguard funds.
Paul

Jurgis

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Re: Sequoia Fund Investor Day Transcript
« Reply #83 on: May 24, 2018, 03:47:16 PM »
Thanks guys.

Fido should not mislead investors by saying that fund is closed. Should just say that it's not available. I guess since it's not available nobody bothered to change the message or something. I could complain but probably won't bother (but then that's why the message will never get fixed ;)).
"Before you can be rich, you must be poor." - Nef Anyo

Carvel46

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Re: Sequoia Fund Investor Day Transcript
« Reply #84 on: May 24, 2018, 04:59:25 PM »
Jurgis,
I suggest calling Fidelity Specialty Trading 800.343.4683 regarding your ability to buy the fund. I have spoken to them in April and Fidelity is now able hold it (I currently hold directly). Fidelity seems to be working out the kinks...don't know reasons. On Sequoia side, Ruane has been doing a large back office and admin overhaul/update over the past few years.

stahleyp

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Re: Sequoia Fund Investor Day Transcript
« Reply #85 on: May 24, 2018, 05:17:51 PM »
That's good news that they can hold it. I think at one time even that wasn't the case.
Paul

VersaillesinNY

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Re: Sequoia Fund Investor Day Transcript
« Reply #86 on: July 09, 2018, 02:52:27 AM »