Several inflationary scenarios were discussed:

Sequence-of-Returns Risk, Explained
What is sequence-of-returns risk? It’s the risk of running out of money in retirement because of losses in the early retirement years. Early losses increase the probability of portfolio exhaustion for two reasons. First, they forestall the stock and bond gains needed to maintain and enlarge retirement funds over time. Second, they can force retirees to sell assets to support their spending at inopportune times—when stocks and bonds boast more-attractive expected returns.
High inflation has accentuated that risk in 2022, as many retirees naturally increase their spending as consumer prices escalate. While this inflation adjustment helps retirees maintain their standards of living, it further ratchets up the pressure on retirement funds and permanently elevates the base spending amount to which future inflation adjustments will be made. After all, today’s currently torrid inflation rate may moderate, but consumer prices are unlikely to go back to previous levels.

https://morningstar.com/articles/1129750/how-worried-should-new-retirees-be-about-market-losses-and-high-inflation

retirement? He's been around since forever. It seems to me he lost his mojo or juju, years back.

Consequences of Trump and his administration's blunders will be felt for years in this country. A lifetime grifter who should be on the golf course. It's embarrassing to see him read the teleprompter.
How this country fell for the defund the IRS, free money handouts for corporations, recommending horse drugs for Covid, violent, destructive and seditious riots, ripping children away from their families at the border, insane foreign policy, let convicted Trump conspirators out of jail, no consequences for crime is certainly the work of anti Americans.

Consequences of Biden and his administrations blunders will be felt for years in this country. Lifetime grifter who should be on the golf course. It's embarrassing to see him read the teleprompter.
Crazy news regarding the Twitter files. Government censorship why is it not front page on that propaganda rag the new York times? Seems many of the conspiracy theories are true over and over again.
I'm no orange man fan but for certain I'm no Biden admin fan either.
How this country fell for the defund the police, free money handouts, drug legalization, violent and destructive BLM riots, open borders, insane foreign policy, let folks out of jail, no consequences for crime is certainly the work of anti Americans.

Tom Madell Article:
Summary
"A long Fed pause, hopefully in 2023, might lead to surprising stock returns based on the effect of such pauses over the past 25 years. There have been five such pauses of over a year after the Fed began either to raise rates, such as now, or to drop them. In each case, the market showed outstanding gains during the paused period. We don't know when, or if the Fed will take a long pause during the current rising rate cycle, but if they do, investors will, in all likelihood, do quite well."
surprising-sp-500-stock-returns-after-fed-pause

One more reason to like Roths ….. ISTM
Excerpt: IRMAA is short for income-related monthly adjustment amount. It frequently surprises retirees because it is tacked on to standard Medicare premiums for people with incomes above certain cutoff points. Although it is aimed at higher-income retirees, “you don’t have to be rich to fall into the penalty box,” notes Denver financial planner Phil Lubinski.
This year, IRMAAs hit individuals with modified adjusted gross incomes of more than $91,000, and for couples, more than $182,000. Instead of paying the standard annual Medicare premium of $2,041.20, higher-income individuals are paying from $3,006 to $7,874.40. Couples can pay double that.
Each year, Medicare charges are reset based on the income that people reported two years earlier. Even retirees who never had a problem can be blindsided by an IRMAA after an unusually high-income year.
Ignorance isn’t bliss in such cases. People can often make income adjustments before year end to dodge an IRMAA threshold, such as selling losing investments to offset capital gains. Cutting income by as little as a penny can slice almost $1,000 off an individual’s annual Medicare premiums at the lowest levels, and thousands at higher levels.
Source / Barron’s https://www.barrons.com/articles/medicare-premiums-taxes-irmaa-51671059739
(Link may or may not work.)
Disclaimer - Not an expert on this - or even well informed. Highly recommend the article.

Damn I wish they had one for Giroux!! I’ve been wanting to get into his fund for years. Had hoped they would reopen it with the splitting of T Rowe into 2 units. Has anyone heard any recent discussion of PRWCX reopening?

To cop a line from Phantom of the Opera - ”These things do happen” ... :)
BHP is down slightly today. Worth noting - It is down about 5% the past 5 days according to Google.
Friday was a big quarterly options expiration date. Likely played a part.
WSJ Article: Traders Brace for Largest Options Expiration in Two Years -
“$4 Trillion - That’s the value of the equities underlying options contracts set to expire Friday, according to Goldman Sachs. Quarterly options expiration dates, such as today's, tend to see more activity because they tend to coincide with Wall Street's reporting dates.”
Source: https://www.wsj.com/livecoverage/stock-market-news-today-12-16-2022/card/traders-brace-for-largest-options-expiration-in-two-years-Zg0tj1YBlx2dqaenWqDS

Yes, I think that Krugman is probably right on. The folks at the Fed aren't morons either- I'm pretty sure that between all of them they won't do anything totally stupid.

Right, they know exactly what's going on. That last "high for longer" message may reflect that; they're nearly done but plan on leaving the rate at/near the peak for a good while to make sure inflation doesn't explode again. I can't imagine they're really going to stay hawk-y until they see YOY at 2%.
But Felix Zulauf talked about another global inflation explosion a couple of years from now in his recent interviews.

@Observant1 @Junkster from the Barron's article:
"Every December for the past 13 years, Barron’s has identified 10 promising stocks that could outperform the market. This year’s group had a value bent, a benefit during a year when value outperformed growth by 19 percentage points. Barron’s 10 picks did even better.
The 10 stocks had a negative total return of 1.7% through Dec. 14, as measured from our publication date in December 2021. That’s 10 percentage points better than the S&P 500 SPX -1.11% index, which was down 12.1%, including dividends, over that span. "
Article

There's a VA clone of DFAT that oddly has performed about 2% better YTD (-5.24% vs. -7.26%), 3⅔% better (annualized) over three years (11.73% vs 9.08%), 1⅔% better over five years (7.59% vs 5.90%), and 3/4% better over ten years (11.26% vs. 10.44%). Same underlying ER, same managers. (The ETF was originally an OEF which explains how it has a long term record.)
You can coax some of this info out of M* by using instant X-ray and the "ticker" FVUSA001OG.
VA: https://www.dimensional.com/us-en/funds/233203710/va-us-targeted-value-portfolio
ETF: https://www.dimensional.com/us-en/funds/dfat/us-targeted-value-etf
Obviously a VA will have added wrapper fees. So this isn't a suggestion to go out and buy a VA to get the VA clone. But if you do own a VA and this portfolio is available, it is worth a look.

@PRESSmUP- Timkin Roller Bearings! Wow, haven't heard that name in many years. When I was in grammar school they advertised in The Saturday Evening Post, with very informative descriptions of what they made, why their tapered roller bearings were superior to ordinary ball bearings, and descriptions of the many types of equipment that used those bearings. Timkin did their part in kindling a lifelong interest in things mechanical. Thanks for the memories!

@PressmUP I'm a similar style investor - I'd say I'm 85% in quality dividend equities and equity funds (mostly individual stocks, though) held for the long haul. What little FI I hold is either stuff from 40-ish years ago I was given as a child or included in some of my funds. I may hold short-term treasuries from time to time just to put idle cash away for a while, too
I'll run numbers in another week or so, but while I'm down for 2022 as well, I've still done better than the broader indices, which is fine by me.

Rules for claw-backs under bankruptcy are complicated. It depends on intent, purpose and parties involved. Although 2 years is often mentioned in the media, the range be 90 days to multiple years.

.... Like Chris Hedges, now Rev. Chris Hedges, as of a few years ago. (Presbyterian Church-USA.) And then the Times dumped him because he didn't toe the line on the Israeli occupation of Palestine. In my opinion, he and Matt Taibbi are two of the best.

Agree with @MikeM that stocks are tough for small investors. Long term, personally, I’ll take good low-cost actively managed funds over anything else. I presently have only 4 stocks. A couple very small holds in metals / mining. Need to trade a lot (add or reduce exposure) in those volatile sectors and mutual funds wouldn’t allow it - although etfs would. In mining a little bit of exposure provides plenty of action. The other 2 are in the food distribution sectors - one large cap and one mid cap. I figure people will need to eat come hell or high water.
Over past couple years about 3 out of every 4 Barron’s stock picks have served me very well. But one or two have badly misfired. Goes to show there’s no free rides.

I agree with Crash, but one thing I’d like to add, which should be self-evident on this board, is that a company’s stock performance is not the same as its performance as a business or its underlying profitability. I haven’t done a deep dive on the Times’ operations, but my impression is its stock is down sharply this year not because of operational disappointments but because it is a highly valued stock and stocks with higher valuations are underperforming as interest rates rise.
The stock is highly valued because as a business the company has significantly outperformed its peers in recent years. That kind of performance would justify a pay raise for employees. In fact, just looking at the stock’s performance, it has completely trounced its peers in the flagging newspaper business and even the market overall in the past five years. So why fixate on 2022, a bad year for all stocks?
Moreover, in an industry where intellectual capital, i.e., content is king, the creators of that content should be well compensated. That content has won the Times several Pullitzers recently.

Is he talking about his Sea Change memo?

I’ll save folks a few thousand words of reading. The ”sea change” comes at the very end of Mark’s memo:
“We’ve gone from the low-return world of 2009-21 to a full-return world, and it may become more so in the near term. Investors can now potentially get solid returns from credit instruments, meaning they no longer have to rely as heavily on riskier investments to achieve their overall return targets. Lenders and bargain hunters face much better prospects in this changed environment than they did in 2009-21. And importantly, if you grant that the environment is and may continue to be very different from what it was over the last 13 years – and most of the last 40 years – it should follow that the investment strategies that worked best over those periods may not be the ones that outperform in the years ahead. That’s the sea change I’m talking about.”
Love Mark’s thinking. @Crash’s 15-20 minute video is well worth the time. In a nutshell, Marks looks for whatever appears “cheap” at the moment. (I affectionately term this practice “dumpster diving”).
I thought the memo kind of boring. Blame that on my short attention span. But generally I’m one who comprehends things better verbally than in writing. I treasure Mark’s book “The Most Important Thing” - the audible version of which I’ve listened to a number of times.
Back to basics, Mark’s “sea change” rests on his perception we’ve moved from an environment of ultra-low interest rates to a more moderate range of 3-4% on investment grade paper. The ramifications of this are too widespread to cover here. But, seemingly, investors will be inclined to to shun riskier assets now that decent returns are available with safer ones.
Not much new here. Working on a new sleeve in the allocation model which will include a 5-10% allocation called “La-La Land” - essentially high volatility funds like GUG (that I own) which employ options strategies, tons of leverage and charge exorbitant fees. :)

Oh my gosh! It has happened! I've been waiting years for this moment! Thank you so much for the heads up Shadow!

Maybe a few of the people who bought those whatever-they-ares intend to leave them to their children. Maybe in fifty years Antiques Road Show will appraise them for twice what they cost. Allowing for inflation, at least they might break even.