@BenWP,
Just bought into the fund this past January as I did look at the past history with not much indicated. At $55 dollars a share, $2,500 doesn't buy much. I do have it in a taxable account with the transfer agent.
Most of my mid-cap holdings (except POAGX) have a history of paying significantly more cgs/dividends than my small cap funds.
Fund still has small asset base with not much outflow. If there were a lot of outflows similar to that of Turner's Microcap/Emerging Growth fund during its last couple of years of existence, I would be worried.
Here is the 2017 prospectus link:
https://www.sec.gov/Archives/edgar/data/720309/000119312517297883/d459672d485bpos.htm
Look at the footnotes in the financials for more information concerning dividends.

@TheShadow: I was wondering about MECAX annual distributions. M* has no info at all and the AMG site seems to say there were none paid for 2017. Hard to square with a 98% turnover ratio. The same managers run the Cadence mid-cap fund which has paid nose-bleed distributions for the last four years. It may not matter to you if your holding is in a tax-deferred account.

Morning @hank
Perhaps I should forgo a late night post, when I awaken at 5am on the same day.
--- Gov't. issue bonds/bills and the spread among the yields. Yes, the 2 and 10 year yield is narrowing again, as well as the 10 and 30 year yield spread which closed yesterday at 15 basis points. This spread continues to slowly narrow from the past year; even though both yields are significantly higher than one year ago.
---Bonds corporate, LQD found about a +.50%, which is a strong positive reversal of the trend for the year so far. May be nothing more than a technical trade by the big kids; but I do watch these bonds in particular, as so many ($'s) have been issued over the past years to finance take over, acquisitions, etc.
---VIX = Technically speaking, the CBOE Volatility Index does not measure the same kind of volatility as most other indicators. Volatility is the level of price fluctuations that can be observed by looking at past data. Instead, the VIX looks at expectations of future volatility, also known as implied volatility. Times of greater uncertainty (more expected future volatility) result in higher VIX values, while less anxious times correspond with lower values. (From Investopedia)
>>>I watch VIX strictly for the above description of the sentiment of those involved in trading this area. I don't trade this, but mingle the indicator with other market factors.
You noted "new cars sales down"..... Reportedly, 1/3 of new car sales for 2017 were leases (counted as a new car sale). To this, I saw a tv crawl on Bloomberg that used car prices are down. Also, that the ads I see for new car leases continue to reflect lower monthly lease prices, and in many cases; there is no increase in "up front" money, or no "up front" money at all required by the customer. So, this market finds the production of vehicle units to continue; and one wonders how much pricing is being squeezed all the way down the distribution chain. A large "boatload" of vehicles continuing to come off of a 2 year lease and flooding the secondary markets with decent "used" vehicles, eh?
'Course, many folks enjoy the thought of driving a $60K SUV for "x" dollars a month; while in their real life, they could not afford such a vehicle with a traditional auto loan, even with the very low interest loan rate for those with a good credit rating. Also, auto companies pumping their ads that "they" are able to finance those with crap credit ratings for a new vehicle. The sub-prime auto loan area is probably more smelly than folks know or that is reported. NOT a pretty picture for this segment of the economy, IMHO.
Per Sonny and Cher..........."and the beat goes on".
NOTE for today. Trump's "plan" announce at 2pm today about his plan to reduce drug pricing. No scare reflected in yesterday's healthcare sector gains. Will discover today if pharma or other narrow parts of healthcare gets some type of negative price whack.
I've run my mouth enough.
Take care and be assured, that winter is almost gone in Michigan, yes?
Catch

Uh-oh, looks like someone is getting ready to retire...
Sometimes I feel certain "Stores" of value is a convenience for the rich. Like Crap Paintings "You don't understand" from 400 years back, by certain Europeans selling for Millions, only because the rich decide to value it amongst themselves for a certain amount. This way they can have a "Store of Value", and they can "value" it at whatever amount, and then always be able to borrow against it making millions from millions.
Old Paintings are the ANALog equivalent of Bitcoin today. Value it for WTF you want.
Stamp collections are maybe Ripple. Try using the 19th century stamp for actually mailing something to someone. Oh no, but they are worth 40 freakin million to someone who has 40 freakin million lying around.

@bee, thank you for your notes added to the original thread.
From Mr. Madell's write: The eft's in his list vs the VTSMX total market index (U.S.)
The list is broad market of various styles, but not really much to sectors within styles. I will agree to this point of his notation of correlation in the equity area. I see that he mentioned a few sectors for correlation reference, but I didn't see any tech. or health.
http://stockcharts.com/freecharts/perf.php?VTSMX,VUG,VV,VTV,VOT,VO,VOE,VBK,VB,VBR&n=1258&O=111000
We tend to travel in equity sectors (bond sectors, too) vs broad, although this path has been chosen from time to time with ITOT.
A few of the sectors and active managed funds where we have had monies in the past 5 years to align with the writers time frame.....versus VTSMX. They are: FDGRX , FCNTX , JAGTX , FSPHX , and PRHSX.
http://stockcharts.com/freecharts/perf.php?VTSMX,FDGRX,FCNTX,JAGTX,FSPHX,PRHSX&n=1257&O=111000
I can't disagree with the correlation he indicated for his choices; but sector choices can and do matter, too.
However, sector investing can cause more emotional risk to the investor; and at times, monetary risk. One being curious about investments in these areas, must also tie this to study and patience.
Sectors have cycles too, for any number of reasons and there are times of what I call the doldrums or "horse latitude" investing.
--- What are horse latitudes and how did they get the name?
There are two sub-tropical high-pressure belts extending approximately between latitudes 15 and 30 degrees to the north and south of the Equator. Horse latitudes are generally areas of high pressure marked by calm, subsiding air that gets heated during descent. It is said that Spanish sailors ferrying horses to the West Indies were usually stuck for months in these calm waters and had to throw their horses into the water to conserve drinking water for themselves. This led to the term ‘horse latitudes’.
The equity markets found "horse latitudes" during 2015 and 2016 to the point of potentially making one scratch their head wondering, "What have I done?"
M* categories continue to indicate the lead of lg cap growth, with tech. and healthcare in the lead for the past 5 years. Small growth is the leader for the year by a tiny bit.
At times, in spite of having to wait; one gets lucky ever now and then.
Okay, done with self-therapy. :)
Take care,
Catch

Several years ago an associate received a 2 day all expenses paid invite to Branson Mo. Only one condition was he had to attend a 2 hour presentation for time shares available in and around Branson. He purchased a time share around Table rock. The following winter there was a water line break and his share of the repairs was over $ 4000.00.
The trip and the pitch were both lousy.

30 years ago my Wife and I received a RSVP through some of our friends for a family investment plan seminar with meal included. (As best as I can remember.) The plan was described as a savings and investment - 30% of your investment went into a popular mutual fund, 30% went into an annuity, and 40% went as a management fee. The food was good but the plan sucked.

I have had lunch with a number of advisors through my many years of investing.. Some I did business with and some I did not. Those that could not correctly answer my questions or said they would have "research it" and they'd get back to me. Well, I simply passed on doing business with them. Folks, I simply asked questions I felt people in the profession should know off the top of their heads.
I never attended many "free lunch" seminars ... and, still decline invitations to attend them today. But, I do indicate an interest for a one on one lunch appointment if I feel it appropriate with my current or a prospective advisor of my good interest. In this way, I get them into my environment one-on-one and often times in this meeting I find out just what they do know ... and, many times what they don't.
Most of the time on group "free lunch" seminars ... I pass. These are simply an easy way for them to qualify you and a limited way for you to qualify them. And, they will pay for lunch to find this out through the questionaire they ask you to fill out during the course of the seminar ... and, then turn it in. In this way they learn a good bit about you ... and, you have learned little about them. And, again, they will pay for lunch to find this out. So, if you are of the "free lunch type" enjoy it at their expense. But, be careful on how you answer their questionaire without being untruthful. Most of all, remember, in most cases, these are sales people who are licensed to sell investment products ... and, they prospect through offering "free" lunches.

While I am with Fido because it seemed the best option of my 403b, I expect to to move most of the funds to Vanguard when I retire. (Interestingly, the university forcibly moved a significant portion of my money from Fido to Vanguard 2 years ago. While the transfers put me more into cash than I planned, that didn't turn out badly.)
I think the described actions are mainly cost-driven, as Fido downsizes in the face of reduced profits.

Berkshire has underperformed the S&P for the last 10 years.
He missed on Amazon and Google (as did I), and I would have bought Facebook at 18, when it was a bit above that, but, unfortunately, it failed to drop.)
I can accept that a fund manager doesn't understand tech, but perhaps he should buy someone who does. I made a bit on Berkshire, but decided I'd be better served with dividend paying funds.
I'd be a lot more confident about Berkshire if Warren was commenting on how well his replacements were doing while he continued to tweak their decisions.
Buy the index funds as he has advised. He's no longer beating them. I'm not sure how many years of outperformance he has to achieve to keep up, but I'm not riding that dream.

@Maurice
When I receive these, I discover as much as possible (curious) about the firm and the person. This includes a FINRA broker check. A few times over the years I have found negative data about a person; and of more interest is that some folks have switched jobs often.......not necessarily a bad sign, but interesting.
I imagine that the business cost of such events are anticipated to be overwhelmed from monies from new clients. The majority of these I receive are folks who have passed "x" number of insurance level exams (read annuity) without other attributes; although about 1/4 are indeed accredited financial planners.
Have not had a dinner.

Hold S&P 500 for 10 years...20 years...not 10-20 minutes

“The S&P 500 Index Fund is the one to use. That’s the one I used in that bet I made for ten years. It’s the one I’ve told the trustee for my wife to put 90% of the funds I leave her in to.”

90% of investors should hold index funds...the rest should own BHK-B (hard to afford A shares). BHK-B stock is like a concentrated fund with no ER.

I agree in recent years I have been stuck with large capital gain distributions in my active taxable funds due to large capital gains that have put me into a higher tax bracket I can't sell them as that would be jumping from the frying pan into the fire.

Hi @hawkmountain
A more personal question about the 529's. Are there 529's in the name of the parent(s) or only in your name. This is somewhat related to your original question about 529 monies affecting FAFSA. @bee added excellent info/links.
I added a few things below; past your original question.
Regards,
Catch
---Original 529 plan monies uses: the qualified education expenses of the designated beneficiary, such as tuition, fees, books, as well as room and board at an eligible education institution.
---Also, contributions to a 529 do not have to be stopped once the beneficiary starts undergrad school. Post graduate school is eligible, too. A consideration with continuing to add monies is whether all of the money will be used (not hard to use all of the money today, eh?). However, if more money appears to be needed and one has the ability to add to the 529; the distributions from the investments continue to be tax exempt. The 529 remains a tax free investment, yes?
---A few notes (IRS) about new adds to "what" 529 monies may now be used:
Q. Can I make withdrawals from my 529 plan for the costs of computer technology or equipment?
A. A qualified, nontaxable distribution from a 529 plan includes the cost of the purchase of any computer technology, related equipment and/or related services such as Internet access. The technology, equipment or services qualify if they are used by the beneficiary of the plan and the beneficiary's family during any of the years the beneficiary is enrolled at an eligible educational institution.
Q. What does “computer technology or equipment” mean?
A. This means any computer and related peripheral equipment. Related peripheral equipment is defined as any auxiliary machine (whether on-line or off-line) which is designed to be placed under the control of the central processing unit of a computer, such as a printer. This does not include equipment of a kind used primarily for amusement or entertainment. “Computer technology” also includes computer software used for educational purposes.
Q. Is this “cost of the purchase of any computer technology or equipment or Internet access and related services” available for any other education benefit under the tax laws?
A. No, it is only for 529 plan withdrawals. Such costs are generally not qualifying expenses for the American opportunity credit, Hope credit, lifetime learning credit or the tuition and fees deduction.

I'm having a hard time remembering any time I've had problems with Vanguard service. That could be because I'm a model Vanguard client - invest, make tweaks every couple of years, do ACH transfers online, and not much else.
Same sort of pattern with my use of internet banks. Set up an account, move money in and out, and watch the interest pile up. (Yes, really, over 1.5% at many internet banks these days.)
On the other hand, I use Fidelity for more frequent transactions. Their latest miscue is failing to provide me an image of a check that cleared a month ago. Called twice, each time was promised that it would show up online. Still hasn't.
Walked into an office today. Useless. Unlike the phone reps, they couldn't even see the image on their system. So no way to get a printout.
CMA accounts have been around since Merrill Lynch invented them in 1977. You'd think that after forty years, Fidelity could get it right.
Sure it's nice to be able to call 24x7. But if all they do is talk, what good is calling?

"It's good to start hearing BobC's reflections as he closes a chapter that he'd been writing for 50 years and begins another."
Thanks Bob, I enjoyed your comments !
Derf

With Ed just back and recovered from his European vacation, we'll publish an update soon. That is, we'll add Ed's essay - on the need by professionals investors to reinvent themselves to maintain their "edge" in a rapidly evolving ecosystem - to the May offering. It strikes me as a thoughtful piece.
I regret offering no memorial words for Marty Whitman; he surely deserves them but surely deserves them from people who knew and trusted him. I was afraid I had little more than platitudes to offer.
The Prospector fund looks interesting. I began following them when Ron Howard, the long-time manager of Price Capital Appreciation - the equity fund that had the longest-ever streak of years without a loss - left to co-found Prospector. They feel like T Rowe in a compact package.
It's good to start hearing BobC's reflections as he closes a chapter that he'd been writing for 50 years and begins another.
And I really do appreciate your input on the active share piece. I hope it was worth your time.
Take care,
David

Hi all. I've always been around...just lurking for a while. Some very nice posts here as always. Greetings to everyone!
Right now I am the owner of three 529 accounts for grandchildren. The FAFSA issue has come up, and seems to indicate that the amount of scholarship money available might be reduced far more if the grandparent owns the 529 than if the parent owns it. I swore my brains worked better than this, but it seems like a big muddy mess.
Has anyone deciphered the FAFSA/529 conundrum? TIA
Best, hawk
p.s. I might have posted along these lines a couple years ago. If so apologies for the redundancy

I wonder if SFGIX is still worth recommending? Downside capture is a good attribute. But I don't plan to grow my stake. I know Foster is an expert and knows his shit. Yet SFGIX seems to want to not lose, rather than to win. Just my opinion. I've owned it since 2012. I'm also beginning --- at the next (June) distribution, to start receiving, rather than re-investing profits.

I bailed on it a few months ago as it wasn't living up to my expectations for EM exposure. Upon further review, I see it has struggled YTD and over the past 3 years. I think there are better options.

Hi @Junkster
The below M* link is averages for categories they post, as of April 30 close.
Our house is now at about 50% cash, being money markets at Fidelity at about 1.3% yield.
Not much, but better than going backwards.
Our last big money move will have a 10 anniversary on June 17, when we moved to about 87% cash. Sadly, might have to do this again.
Our two largest equity areas at this time are tech. and healthcare. But, these two continue to get beat upon, too.
Today, May 1 is a flop so far for our holdings in general.......11 am, EST.
Can't bitch about 10 years of nice returns; but I don't want to have to go hide the money, either.
http://news.morningstar.com/fund-category-returns/
Take care of yourself,
Catch