Bar-belling ARKK with Treasuries blew away SPY with less drawdown:
the-best-defense-is-a-good-offense-lately

Good grief! SPCAX has a turnover ratio of 4,249% according to M*. Maybe @msf’s legion of fact checkers/researchers could compute the average holding period for a typical position given that number. IIRC, a 20% TOR results from holding a position for 5 years.

This is one of your more opaque funds, with derivatives, shorts, and 25% of assets in the management company's Cayman Islands subsidiary. And the turnover figure presented represents only a small portion of the portfolio (the few "vanilla" holdings). So I'm afraid that any turnover calculation (even if I could decrypt all of this) wouldn't be meaningful.
From the annual report: "The Commodity Strategies Global Macro Fund may invest up to 25% of its total assets in the subsidiary, a wholly-owned and controlled subsidiary formed under the laws of the Cayman Islands." M* reports 25.11% of the portfolio in "Cayman" as of June 30th.
From the SAI:

The Commodity Strategies Global Macro Fund's portfolio turnover rates for the fiscal years ended June 30, 2020, and June 30, 2019 were 4,249% and 5,463%, respectively. ... As defined, the portfolio turnover rate calculation may only include the turnover of "securities" within the Fund’s portfolio .... The calculation does not include the turnover of other instruments in which the Fund more commonly invests, such as commodity futures instruments and other derivatives. The portfolio turnover rate, therefore, only provides a turnover rate on a narrow portion of assets purchased and sold within the Fund’s overall portfolio. The Advisor estimates that if futures contracts and derivatives were included in the calculation, the portfolio turnover ratio for the fiscal year ended June 30, 2020 would have been lower

One would certainly hope that the turnover rate for the whole portfolio is lower!
A few numeric oddities that one doesn't need to be an accounting expert to see:

• the cheaper Institutional shares have underperformed the Advisor shares by 0.02% over the past one and three years;
• while the website says: "[the Advisor] share class includes an explicit 0.25% shareholder servicing fee", the prospectus reports a 0.20% fee; and
• the investor class shares have "other" fees that are 0.19% higher than the advisor class fees (per prospectus)

This article is updated for January Lipper Data using MFO screens.
https://seekingalpha.com/article/4405656-best-funds-for-retirees-2021
Enjoy

Thank you, TheShadow.
This would be the ETF 'equivalent' of this [PRCOX]? [*]
https://www.troweprice.com/personal-investing/tools/fund-research/PCCOX#content-summary
[*] With a 34 bp ER, rather than the 37 bp ER of the "I Class" ($1 MM minimum), or the 50 bp ER of the "Investor Class" ($2,500 minimum).

TGGFX PFOAX GSGIX Diversified in case 1 blows up! SHSAX more sedate health care fund with low minimums at Schwab.

I owned some Matthews years ago. A very bad customer service experience--- with one of the SENIOR guys--- caused me to empty my account with them. I still have faith in Teresa Kong at MAINX. I track that one, and MAPIX, because they're in a friend's portfolio--- which I've been babysitting since 2010. ...As for my current holdings, I've got nothing terribly unconventional. I just sold some shares which amount to 2.62% of our total holdings. Good time to do it, with Markets at or near a top, day after day. It is ALL profit! This time, I spread out the withdrawal between a few funds we own. Wifey wants a house to retire to, and for her family to use over there, between now and then. A house for $6,000? And you'll be satisfied with that? "Sure, ok." 2 storeys, sliding glass door, balcony, great view of the surrounding hills. It's out in the country, in her old barrio, where she grew up.

Financial Literacy initiatives are always helpful:

With incredible support from GoFundMe backers, we created the pilot episode of a 10-part video curriculum that teaches the basics of financial literacy with a fresh voice.
It is accompanied by a curriculum website and PDF handout for classrooms. See all the pilot materials here.

https://learntomoney.org/

Thanks for providing @Mark. Yes IYG scores well. I was chatting with @Charles yesterday and he had a very helpful suggestion to look at the last time when rates were rising and which financial funds performed well. This was 2016-2018 and you can run screens on this period on MFO premium. IAI was top performer. IAI also is the top performer over 3 and 5 year timeframes. This is a broker/dealer focused fund rather than banks. Im strongly considering it.

Hormel Goes Nuts for Mr Buffet's (Kraft Heinz) Mr Peanut...

For Kraft Heinz, which was formed through a 2015 merger orchestrated by Warren Buffett and 3G Capital, the sale will help simplify its operations as the company pursues a cost-cutting plan.

https://bloomberg.com/news/articles/2021-02-11/hormel-to-buy-planters-brand-from-kraft-heinz-for-3-35-billion?srnd=premium

Wrigley’s company now has 42 dispensaries across three states, with 39 in Florida and the rest in Massachusetts and Nevada, with new ones slated to open in Pennsylvania and Texas. To date, it has raised a total of $400 million largely from Wrigley and other high-net-worth individuals. The latest funding round, which closed in 2020, valued the $250 million company (2020 sales) at an estimated $2 billion.

billionaire-beau-wrigley-says-his-cannabis-company-will-be-bigger-than-the-family-candy-business

If you are open to the idea of Basic Material VMIAX has performed very well. It's top 10 positions make up 50% of the fund, but it covers 115 companies that are in the Small, MID, and Large Cap space. ER is .10%
VAW has no minimum.

If you are a trader like me and watch momentum you switch. I held PIMIX for about 7 years. I also watch very high risk and why I sold prior to the meltdown last March(link) and bought after it.
It's also pretty obvious from my table above that PIMIX is way behind the leaders for 1-3 months and what I use for my investments as a trader.

Just sad: https://cnn.com/2021/02/11/investing/robinhood-lawsuit-suicide-alex-kearns/index.html

After their son's death, Dan and Dorothy Kearns said they were horrified to learn that their panicked 20-year-old repeatedly tried and failed to get in touch with Robinhood about his negative account balance of $730,000.
College student Alex Kearns mistakenly believed he owed that staggering sum of money and took his own life last June after his desperate pleas to Robinhood went unanswered, according to his family. Alex left a note that signaled confusion about his negative Robinhood balance....

Some of us have investments that are unique to the MO Boards and considered outliers by most. List 1-2 that you own and what you like about it...
I'll start - MCSMX (Matthews China Small Companies).
YEs, the performance is outstanding, it's relatively expensive, volatile and limited access by analysts etc...I just find this a fascinating part of the International Markets. Getting in on possibly the next JANT-like company also intrigues me.

DBA has had 1 year of positive returns in the past 10...now that's buying the unloved!

According to the most recent findings of AAII the best 3, 5, and 10 year annual return's lies with IYG - iShares US Financial Services and IYF - iShares US Financials.

Elsewhere I read that catalytic converters are disappearing from parked cars because of their rare metals content. Signs of a bubble or social commentary re: the new normal?

Prices for the precious metals used in catalytic converters have increased significantly.
"From about $500 an ounce five years ago, the price of palladium quintupled to hit a record of $2,875 an ounce last year, and is now hovering between $2,000 and $2,500 an ounce, above the price of gold. Rhodium prices have skyrocketed more than 3,000% from about $640 an ounce five years ago to a record $21,900 an ounce this year, roughly 12 times the price of gold." Link

@BenWP. +1.

I spent a lot of time a couple years ago looking at this issue. the funds that track various indices are pretty heavily in energy, especially oil. I decided that if I wanted to invest this heavily in oil, I could buy individual stocks or an energy fund. I looked in some detail at actively managed funds and tried to avoid ones that had large fees ( although they all are expensive)
I finally picked Silverpepper Commodity Fund SPCAX and have been satisfied. It has handily beaten the category and most commodity indices.
Their web page is rather sparse but will show you that they are invested mainly in agricultural commodities now. M* has very little update information unfortunately.
An alternative is to pick large ETFs focused on various commodities and buy a basket of them that meets your objectives
Barrons had a article on Commodities recently.
https://www.barrons.com/articles/commodities-are-starting-to-rally-here-are-the-stocks-and-funds-to-play-it-51611958101