I thought it would be entertaining and potentially instructive to go over the list of talented managers who have run PRWCX since inception. While none attained the notoriety of Giroux, all excelled. If memory is correct Giroux came in about 15 years ago along with a co-manager of equal status. That lasted only a year or two. ISTM the fella’s name was Jeff Arackle or something similar. It later came out he had some serious personal issues (financial ?) but I can’t recall the nature of such.
I even resorted to Bing’s AI asking about the history of managers for this fund. All AI could provide is this:
“Publicly available sources do not list any named individual managers prior to David Giroux (2006). Earlier reports consistently highlight Giroux as the first lead manager since founding. T. Rowe Price has not disclosed earlier stewardship or predecessor managers in public filings or press materials.”
Surely AI isn’t providing a very intelligent answer! I’d also love to know how much the fund has grown in AUM under Giroux? I’d guess it’s doubled since he became co-manager - perhaps even adjusting for asset growth..

I am taking the liberty of quoting excerpts from an excellent post by richardsok that appeared on the BIG BANG! Investors site:
"Trump's penchant for crowing victory on TV last night was unfortunate. He preens and congratulates himself too early and too much -- a habit of his. He's attempting to show his attack was a pain-free surgical strike without consequences. In truth, the mullahs do NOT have to seek peace. They still have a hundred ways to strike back.... including terror, sleeper cells, mining Hormuz Straits, Jihad eruptions from sympathetic quarters, and small scale bio/chemical "events". The American public's patience for easy-to-start wars is notoriously brief; more so after initially promising disasters in Afganistan, Iraq, Lebanon in recent memory. By itself, air power has not had great historic success in ending wars -- merely prolonging them and making people more grimly determined.
With our debt-growth trajectory already unsustainable, another war would be economically foolhardy for the US. There are more ways than military defeat to kill a great republic. Endless wars, crippling expense and financial collapse will do the trick too. Powell was exactly correct not to reduce interest rates the other day.
Wars have ways of surprising us all. Three long years ago it was "Ukraine is doomed! Surrender! America's fault! Putin will unleash nukes if NATO aids Zelensky!" (The posts are still preserved here on BB, I hope.) Well, well, well. The "doomed" side is still grimly hanging on and striking back harder than ever.
Wars end only when the LOSERS say they're over. Now we see how the mullahs respond."

https://www.sec.gov/Archives/edgar/data/34273/000093041325002005/c112473_497.htm
497 1 c112473_497.htm
Virtus KAR Global Quality Dividend Fund,
a series of Virtus Equity Trust
Supplement dated June 20, 2025, to the Summary Prospectus and
the Virtus Equity Trust Statutory Prospectus and Statement of Additional Information (“SAI”),
each dated January 28, 2025, as supplemented
IMPORTANT NOTICE TO INVESTORS
As approved by the Board of Trustees of Virtus Equity Trust, pursuant to an Agreement and Plan of Reorganization, Virtus KAR Global Quality Dividend Fund (the “Acquired Fund”) will merge with and into Virtus KAR Equity Income Fund (the “Acquiring Fund”) a separate series of Virtus Equity Trust, on or about September 12, 2025. The Acquired Fund and the Acquiring Fund have the same Board of Trustees and subadviser, as well as the same portfolio manager. The Acquiring Fund’s investment advisory fee rates are contractually identical to those of the Acquired Fund, and the Acquiring Fund’s expenses are or will be contractually limited by the investment adviser to levels the same as or lower than those of the Acquired Fund. The fundamental investment restrictions of the Acquired Fund are the same as those of the Acquiring Fund.
The Acquiring Fund’s investment objective and principal investment strategies are similar to those of the Acquired Fund. Therefore, the combined fund after the merger is expected to be managed similarly to the way that the Acquired Fund was managed before the merger, with higher assets and the potential for lower fees and expenses. Under normal circumstances, each of the Acquired Fund and the Acquiring Fund invests at least 80% of its assets in dividend paying equity securities. Each of the Acquired Fund’s and the Acquiring Fund’s investment strategy emphasizes companies the subadviser believes to have a durable competitive advantage, strong management and low financial risk and to be able to grow over market cycles. Each Fund typically invests in the securities of medium to large capitalization companies, but neither is limited to investing in the securities of companies of any particular size. Generally, each Fund invests in approximately 25 to 50 securities at any given time. However, whereas the Acquired Fund invests in companies that are tied economically to a number of countries throughout the world, the Acquiring Fund invests in U.S. companies, or companies with significant economic ties to the U.S.
Pursuant to the Agreement and Plan of Reorganization, the Acquired Fund will transfer all or substantially all of its assets to the Acquiring Fund in exchange for shares of the Acquiring Fund and the assumption by the Acquiring Fund of all liabilities of the Acquired Fund. Following the exchange, the Acquired Fund will distribute the shares of the Acquiring Fund to its shareholders pro rata, in liquidation of the Acquired Fund, and shareholders of the Acquired Fund will therefore become shareholders of the Acquiring Fund in the same class of shares they owned of the Acquired Fund immediately prior to the reorganization.
The merger is expected to be carried out pursuant to Rule 17a-8 under the Investment Company Act of 1940, as amended, which means that shareholder approval is not required for the merger to be carried out.
Investors should retain this supplement with the Prospectuses and
Statement of Additional Information for future reference.
VET 8019/Global Quality Dividend Merger (06/25)

Was researching EUFN, an ETF that holds European banks.
From their AI-generated 'research' page:
...analysis of the strategy's portfolio shows it has maintained a significant overweight position in liquidity exposure and an underweight in volatility exposure compared with category peers (Such gobblydegook!) High liquidity exposure is attributed to stocks with a high trading volume, lending managers more flexibility. And low volatility exposure is rooted in stocks that have a lower standard deviation of returns.
< - >
The investment seeks to track the investment results of the MSCI Europe Financials Index composed of developed market European equities in the financials sector. (So ... it's tracking a financial index; that's fair given its name.) The fund generally will invest at least 80% of its assets in the component securities of the underlying index and in investments that have economic characteristics that are substantially identical to the component securities of the underlying index. The index is a free float-adjusted market capitalization-weighted index designed to measure the combined equity market performance of the financials sector of developed market countries in Europe......
...The portfolio is overweight in financial services by 10.5 percentage points (ya think??) in terms of assets compared with the category average, and its utilities allocation is similar to the category. The sectors with low exposure compared with category peers are technology and consumer cyclical, with technology underweighting the average portfolio by 2.7 percentage points of assets and consumer cyclical similar to the average (Gee, I would hope so!) The portfolio is composed of 113 holdings and is diversified among those holdings.
< - >
Just another reason to take anything authored by "Morningstar Manager Research" with a healthy grain of salt. Because, who wants utilities and consumer cyclical stocks in an ETF tracking a Financial Index?

@hank
i dont consider barry in the MAGA camp, but unsurprised when some are unconvinced by numbers and what is right in their face. fyi, barry was\is part of the same financial complex he rails against. i have read all of bill's works and strongly suggest specifically for you and fd1000 "The Delusions Of Crowds: Why People Go Mad in Groups".
and the trump video is the demonstrative part of what was discussed in the interview.

Here’s an improved link to the transcript
Audio Link
Thank you @Mark. I hope above audio link works for those wanting to listen. I did a very quick read.
A Barry Ritholtz podcast with guest Bill Bernstein. - Bernstein’s credentials:” Efficient Frontier Advisors Co-Founder & Neurologist “
It’s a casual rambling look at stock market risks over many years and how various investors deal with the risk. Bernstein is interested in the part of the brain that instinctively tells us to flee when the going really gets bad. Very hard instinct for most to repress. They discuss different portfolios that are easier to stick to than 100% equities. One is a portfolio designed to endure “the worst 98% of all markets”. They debate whether an all-stock approach is best, but both seem to doubt most individuals could stick to it in prologued bear markets - even if they were 30+ years away from retirement.
Sounds like at any given time you have 5 chances out of 6 that stocks will go up. But how to deal with the 1 in 6 probability they will tank? Bonds enter into the discussion. Jim Grant and Charlie Munger are a couple big names they weave into the discussion (along with William Shakespeare). There are some references to Trump’s tariffs and the risk to markets they pose as well as his family’s general financial acumen - but not the dominant theme.

Looks like I'm having a computer malfunction.

The board’s software is really difficult to work with this evening!

- The only two sources of financial stress are risk and debt.
FD: It depends. Risk is in your head; change your thinking or maybe change your style.
The right debt is healthy and welcome. Example: buying a house with a loan.
- A home is not an investment.
FD: Home is the best investment for most Americans. Most retirees have small portfolios.
- Trying to get ahead by cutting down on expenses is a loser’s game.
FD: Cutting expenses is one of the best choices for most people because Americans spend too much money and have small portfolios at retirement.
- Increasing income is the key to financial happiness.
FD: If income is a higher salary, probably. Increasing investment income isn't the key.
If someone makes $150K annually, is she happier than another who makes $100K?
If someone's portfolio is worth 10 million, is she happier than another who has "only" 5 million?
- A dwelling under 1250 sq. feet represents a meager existence / lack of success in life
FD: Again, if you are a student or just started working in NYC, you are doing fine.
- Driving a 10-15 year old (rusty) vehicle also represents a lack of success in life.
FD: Really? So, why did Sam Walton drive an old vehicle?
- Never finance a new vehicle. Always pay cash.
FD: Know how to negotiate new vehicles and always finance it when the rate is low at 0-1.99% while your investments do much better.
- Don’t skimp on insurance.
FD: too generic. You need the proper insurance.
We always had Home, Auto, and Umbrella. When we had young kids, we had term life insurance. As retirees with grown kids, we stopped it years ago.
- Always give large outsized tips for services well rendered.
FD: Please define "well rendered."
Wait, I have one. Save a million by age 35. The devil is in the details :-)

Good points @PressmUP. It was just the unexpected price swings around X-dividend date that puzzled me. And I’ve noticed the same with other CEFs. You helped by noting these strange price swings are common.
I’m aware CEFs are priced by sentiment and do not often trade at NAV. I owned 15-16 a month or so ago and commented proudly on my ”CEF basket” here a few times. Many of them were doing very well. But when I pulled up the 2008 performance (where it was available) I learned that several of my “hottest” ones had lost between 50% and 65%* in 2008 alone. So, I pulled back out of caution. At age 79 I’m not going to go chasing anything lower as I did in ‘08.
Still own 11 CEFs. Most are somewhat sedate and income oriented - even though I realize they aren’t the “hottest rods” on the block! BTW - GDL held up well in 2008 losing just 8%.
Yes - Best to avoid thinly traded holdings. Tough to get on the fire escape when needed! :)
* UTF is the one that lost 65% in 2008. Yet, I’ve come across well meaning financial articles describing the fund as an excellent “conservative” choice ”for older investors”. Obviously those writers hadn’t bothered to pull up its past performance.

(my kind of investing ... and why I went into my state's 403(b) versus the state pension system.)
The Florida Pension Fund Managers Who've Beaten the S&P 500 Over 50 Years
Unlike most other US public retirement plans of its size, the Tampa Fire & Police Pension Fund doesn’t invest in hedge funds, private equity or private credit. It doesn’t hire consultants to help it pick outside managers. Instead, for the past 50 years, its investments in stocks and bonds have been overseen by a single manager, Bowen, Hanes & Co., a nine-person firm led by Harold “Jay” Bowen III. In short, Tampa and Bowen Hanes do one thing, and the rest of the institutional world does something else.
Consider the Tampa fund’s performance, though. It racked up a 32.2% return in the fiscal year ended in September. “Fiscal 2024 was—not only was it our 50th year, it was the best year the plan’s ever had,” says Bowen, 63. The return was good enough to rank the Tampa plan as the best performer for the period in the Wilshire Trust Universe Comparison Service’s database of plans with more than $1 billion in assets under management. Tampa was also No. 1 for 3, 5, 10, 15, 20, 25, 30, 35 and 40 years.
When the firm started by Bowen’s father began managing the Tampa Fire & Police pension in 1974, the plan had $12.1 million in assets. Fifty years later, in September 2024, the plan’s assets totaled $3.2 billion. What’s more, net of contributions, the system had paid out $1.8 billion to retirees. That means by investing in stocks and bonds, Bowen Hanes had in effect turned $12 million into almost $5 billion over 50 years.
< - >
Full archive link: https://archive.ph/3nTUd
Fund holdings as of September 2024: https://www.tampa.gov/document/september-30-2024-fiscal-year-financial-statements-115286

Jimmy Buffett's Estate Co-Trustees Fight
You can make the best plans possible, but they can be spoiled when co-trustees fight.
Jimmy Buffett left a $275 million estate when he passed away in 2023. In his Will, he provided for a marital trust with his wife (Jane Buffett) as income-beneficiary & his children as remainder-asset-beneficiaries (Savannah, Delaney and Cameron). He designated his wife and his business manager/financial advisor (Richard Mozenter) as co-trustees.
Now, co-trustees are fighting accusing each other of noncooperation and not sharing financial information.
It seems that RM is managing the Trust for very low current income ($2 million only) and is charging high fees ($1.7 million). This looks like an asset preservation strategy, but it became contentious when co-trustee RM told co-trustee wife Jane that there wasn't enough trust income to support her living expenses.
Something looks very fishy. Even Bengen's 4% initial w/COLA can produce $11+ million/yr from $275 million to keep everyone happy. In fact, many marital trusts specify that income-beneficiary may get 5% as income and additional 5% of principal, if needed, and the trustees should manage the trust assets accordingly. That would make wife eligible for $13.75-27.5 million per year. Most living trusts spell this out. But maybe, the Will just mentioned the marital trust without including much details.
These lawsuits may take a long time to resolve - now, 2 lawsuits are filed in different states and have to consolidated first. If the court decides that the current co-trustees have an unworkable relationship, then it may replace one of the co-trustees, or both co-trustees.
https://www.cnbc.com/2025/06/13/jimmy-buffett-estate-family-trusts.html
For more estate information, see https://ybbpersonalfinance.proboards.com/thread/654/estate-planning-general

I was surprised last evening when at the beginning of Chapter 12 Dillian says he had never even heard of ”mutual funds” until 1997 when a shipmate aboard the CG cutter he served on bought a newspaper at a port and began scanning the financial section to see how his funds had done the day before.
Geez - Some of us here had been investing in mutual funds for 25 years before this financial “expert” first heard of them. Maybe we should be teaching him!

https://www.wsj.com/finance/investing/norway-oil-fund-puts-td-bank-under-observation-4cd41a12
Key Points
Norway’s sovereign wealth fund is observing Toronto-Dominion Bank for 4 years.
TD may be linked to multiple cases of financial crime in the past 10-15 years.
TD settled with U.S. authorities last year, pleading guilty to anti-money-laundering failings.

https://www.sec.gov/Archives/edgar/data/1111565/000174177325002495/c497.htm
June 11, 2025
BNY MELLON FUNDS TRUST
BNY Mellon Income Stock Fund
Supplement to Summary Prospectus, Prospectus and Statement of Additional Information
The Board of Trustees of BNY Mellon Funds Trust (the “Trust”) has approved, subject to shareholder approval, the conversion of BNY Mellon Income Stock Fund (the “Fund”), which currently operates as a mutual fund, into an exchange-traded fund (“ETF”). If approved by Fund shareholders, the Fund will be converted into an ETF through its reorganization with and into BNY Mellon Enhanced Dividend and Income ETF (the “Acquiring ETF”) pursuant to an Agreement and Plan of Reorganization (the “Agreement”) between the Trust, on behalf of the Fund, and BNY Mellon ETF Trust II (“ETF Trust II”), on behalf of the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund’s liabilities (the “Reorganization”). Upon consummation of the Reorganization, Acquiring ETF shares received by the Fund will be distributed to Fund shareholders, with each shareholder receiving a pro rata distribution of the Acquiring ETF shares received by the Fund, for Fund shares held prior to the Reorganization. If approved by Fund shareholders, the Reorganization will be consummated on or about the close of business on December 5, 2025 (the “Closing Date”). After the Reorganization, the Fund will cease operations and will be terminated as a series of the Trust.
Importantly, as described in more detail below, in order to receive Acquiring ETF shares as part of the conversion, Fund shareholders must hold their shares through a brokerage account that can accept shares of an ETF. Please see the Q&A below for additional actions Fund shareholders can take in order to receive ETF shares in the conversion if such shareholders do not currently hold Fund shares through a brokerage account that can accept shares of an ETF.
The Acquiring ETF is a newly-created series of ETF Trust II and will carry on the business of the Fund and assume its performance and financial records. The Acquiring ETF will have the same investment objective and similar investment strategies as the Fund. BNY Mellon Investment Adviser, Inc. (“BNY Adviser”) is the investment adviser to the Fund and BNY Mellon ETF Investment Adviser, LLC (“BNY ETF Adviser”), an affiliate of BNY Adviser, will serve as the investment adviser to the Acquiring ETF. Newton Investment Management North America, LLC (“NIMNA”), the Fund’s current sub-adviser, will serve as the sub-adviser to the Acquiring ETF and, subject to BNY ETF Adviser’s supervision and approval, provide the day-to-day management of the Acquiring ETF’s investments. The current primary portfolio managers of the Fund will manage the Acquiring ETF. The Acquiring ETF will be overseen by a different board, and will have certain different third-party service providers, than the Fund. The Acquiring ETF will not commence investment operations until the Reorganization is consummated.
The Trust’s Board unanimously concluded that reorganizing the Fund into the Acquiring ETF is in the best interests of the Fund and that the interests of the Fund’s shareholders will not be diluted as a result of the Reorganization. BNY Adviser believes that the Reorganization will permit the Fund’s shareholders to pursue similar investment goals in the Acquiring ETF, which has a lower management fee and an estimated lower total annual expense ratio than the Fund. Management also believes that the Reorganization should provide certain other potential benefits for the Fund’s shareholders, including greater tax efficiency, the ability to purchase and sell shares throughout the trading day at the then-prevailing market price on an exchange, less cash drag on performance, and lower portfolio transaction costs.
It is currently contemplated that shareholders of the Fund as of July 14, 2025 (the “Record Date”) will be asked to approve the Agreement on behalf of the Fund at a special meeting of shareholders to be held on or about September 10, 2025.
As a condition to the closing of the Reorganization, the Fund will receive an opinion of counsel to the effect that, for federal income tax purposes, the Reorganization will qualify as a tax-free reorganization and, thus, no gain or loss will be recognized by the Fund, the Fund’s shareholders or the Acquiring ETF as a direct result of the Reorganization. Fund shareholders may, however, be required to recognize gain or loss if their shares are redeemed, in whole or in part, in connection with the Reorganization.
If the Reorganization is approved, each shareholder who holds their Fund shares through an account that may hold Acquiring ETF shares (a “Qualifying Account”), as described below, will become a shareholder of the Acquiring ETF on the Closing Date and will no longer be a shareholder of the Fund. Such shareholders will receive shares of the Acquiring ETF with an aggregate net asset value equal to the aggregate net asset value of their investment in the Fund immediately before the Reorganization. In addition, approximately two business days before the Reorganization, any fractional shares of the Fund held by shareholders will be redeemed at the current net asset value and the Fund will distribute the redemption proceeds in cash to those shareholders.
If the Reorganization is approved, each shareholder who holds their Fund shares through an account that is not permitted to hold Acquiring ETF shares (a “Non-Qualifying Account”), as described below, will not receive Acquiring ETF shares in connection with the Reorganization. Instead, depending on the type of account through which such shareholder holds their Fund shares, the shareholder will either receive cash or Wealth shares of Dreyfus Government Cash Management, a government money market fund advised by BNY Adviser and sub-advised by Dreyfus, a division of Mellon Investments Corporation, an affiliate of BNY Adviser. The redemption or transfer of such shareholder’s investment may be subject to tax.
The Acquiring ETF offers one class of shares and does not issue fractional shares. If the Reorganization is approved, Class A, Class C, Class I, Class Y, and Investor shares of the Fund will be converted into Class M shares of the Fund (without a contingent deferred sales charge (“CDSC”) or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Fund’s exchange privilege (exchanges into and out of the Fund with other series of the Trust) will be terminated on or about November 21, 2025.
In addition, approximately two weeks before the Reorganization, the Fund may, if deemed advisable by management of BNY Adviser, effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date, as noted above. The distribution to shareholders of such redemption proceeds, which is expected to be a small amount, will likely be a taxable event to shareholders who hold their shares in a taxable account and shareholders are encouraged to consult their tax advisors to determine the effect of such redemption.
If the Reorganization is approved, effective on the first business day of the month following Fund shareholder approval of the Reorganization, (i) the CDSC applicable to Class C shares (and Class A shares, if applicable) of the Fund will not be imposed on redemptions made by shareholders of the Fund, (ii) the applicable front-end sales load will not be imposed on investments in the Fund’s Class A shares, (iii) the Fund’s 12b-1 and shareholder services plan fees will be waived, and (iv) any letters of intent will be closed out. In addition, effective on the first business day following Fund shareholder approval of the Reorganization, no investments for new accounts will be permitted in the Fund (with the exception of new accounts for clients of BNY Wealth, certain retirement plans, certain wrap programs and existing Fund shareholders who are transferring their Fund accounts to a brokerage or other account that is eligible to hold Acquiring ETF shares). The reinvestment of dividends and capital gains distributions will continue to be permitted. To the extent investments are made in the Fund on or after the first business day of the month following Fund shareholder approval of the Reorganization, the Fund’s distributor will not compensate financial institutions (which may include banks, securities dealers and other industry professionals) for selling Class C shares or Class A shares subject to a CDSC at the time of purchase. Approximately two business days prior to the Closing Date, the Fund will be closed to all purchases and redemptions...

+1.
"...During pre-trial discovery, Fox News' internal communications were released, indicating that prominent hosts and top executives were aware the network was reporting false statements but continued doing so to retain viewers for financial reasons..."
https://en.wikipedia.org/wiki/Dominion_Voting_Systems_v._Fox_News_Network

Yes, I stand corrected. It was not during the actual trial, but the discovery phase. And taken from Fox's own internal communications.
We should ignore that though, as an inconvenient truth.

Really? Financial reasons ??? Well now, that's surely a new development. And all this time I thought that Fox was on a search for the truth. / sarc

+1.
"...During pre-trial discovery, Fox News' internal communications were released, indicating that prominent hosts and top executives were aware the network was reporting false statements but continued doing so to retain viewers for financial reasons..."
https://en.wikipedia.org/wiki/Dominion_Voting_Systems_v._Fox_News_Network

@Sven I am DIY and don’t have a Schwab advisor, only a standard Financial Consultant who was assigned to me out of one of their corporate offices. I never had any luck getting a waiver from my local office. When I asked my consultant, they connected me with a Trading Consultant out of Chicago who added the waivers to my account.

"How to live a stress-free financial life": have a lot more money than the average person.

HI WABC
I’m sorry you found this thread a waste of your time. I hope the moderators do not consider book reviews or discussions tantamount to advertisements, which are against board rules. Should this thread be determined to constitute an Ad, I’ll take it down.
My Audible library contains a dozen or more other investing books I’ve purchased and listened to over several years - or am in the process of listening to. Some get repeated. I’ll listen to a book by Howard Marks, John Templeton or Ray Dalio at least once yearly. It’s a fascination with hearing and learning about as many different viewpoints as possible that keeps me motivated. Below is the complete list from my Audible library. I’m hopeful you’ll find one or a few worthy of your time & consideration. Perhaps you’ve read some yourself and would care to comment?
Rating these authors for investment merrit:
1. Ben Graham
2. Howard Marks
3. John Templeton
A FEW NOTES:
- ”The Snowball” by Alice Schroeder is a lengthy and engaging biography of Warren Buffett - timely one might say.
- The one by Bob Pisanni is “light” on investment wisdom but does an excellent / colorful job depicting legendary investor Art Cashin, who recently passed away.
- The book by Andrew Tobias (The Only Investment Guide …) is the first investment book I ever read. A simple yet comprehensive introduction to the investment process with plenty of cautionary notes for novices.
- Copeland’s The Fund is a somewhat sensationalized look at Ray Dalio’s unorthodox management style and questionable relationships / morality very early in his career.
THE LIST:
Templeton's Way with Money
By Alasdair Nairn and Jonathan
Keys to Investment Success
By John Templeton
Fundamental Analysis, Value Investing, and Growth Investing
By Roger Lowenstein and Janet Lowe
The Millionaire Next Door
By Thomas J. Stanley Ph.D. and William D. Danko Ph.D.
The Intelligent Investor Rev Ed.
By Benjamin Graham
The Fund
By Rob Copeland
The Only Investment Guide You'll Ever Need
By Andrew Tobias
Gold, Hard Money, and Financial Gurus
By Michael Ketcher and Gary L. Alexander
What Works on Wall Street
By James P. O'Shaughnessy
No Worries
By Jared Dillian
The Humble Investor
By Daniel Rasmussen
The Most Important Thing
Howard Marks
Principles
By Ray Dalio
Crashes, Booms, Panics, and Government Regulations
By Robert Sobel and Roger Lowenstein
The Snowball
Alice Schroeder
The Psychology of Money
By Morgan Housel
Guide to Financial Markets (6th edition)
By Marc Levinson
Bargain Hunters, Contrarians, Cycles, and Waves
By Janet Lowe and Ken Fisher
The Art of Investing: Lessons from History's Greatest Traders
By John M. Longo and The Great Courses
Shut Up and Keep Talking
By Bob Pisani
Up Close and All In
By John Mack

'Speculation has persisted that China did not, in fact, “ignore” the Trump tariffs but instead dumped substantial quantities of its US debt holdings. “China may be selling Treasuries in retaliation,” wrote Ataru Okumura, a senior interest-rate strategist at SMBC Nikko Securities in Tokyo, in a note to clients, as reported by Bloomberg on April 11. If so, China has an incentive to show “it won’t hesitate to cause turmoil in the global financial market in order to improve its negotiating power against the US”.'
https://internationalbanker.com/finance/is-china-engaging-in-large-scale-dumping-of-us-treasury-securities/
I have also read that China selling as little as 10% of the UST it holds would be a significant circumstance.

China held $784.3 billion and $765.4 billion of Treasuries at the end of Feb. 2025 and Mar. 2025 respectively.
The value of China's Treasury holdings decreased by $18.9 billion during this period.
I don't know what has transpired since the end of Q1 2025.