@Stillers ... I've done a lot of reading on FPURX vs FBALX. They are so closely correlated. Good suggestions everyone. Thank you! This is a good primer but would like your opinion. https://finance.yahoo.com/news/balanced-vs-puritan-fidelity-fund-100000950.html

John, an argument can be made for either and it would be a very close debate (as your linked article shows), ultimately decided by simple personal preference.
I prefer the L/M/S and G/B/V splatters and the slight/marginal 1-3-5-10-yr consistent outperformance of FBALX over FPURX.
That said, either one of these two is a great LT holding, AA choice, and coupled with others on my "short list," make for great core holdings in a balanced portfolio. If in doubt about FBALX vs FPURX, simply buy both at 50/50 weightings.
EDIT: BTW, I own all of the AA funds on my short list except JABAX. I have previously owned JABAX and VGSTX. I never owned FPURX. I reduced my AA holdings at EOY 2020 to just PRWCX, VLAAX, FBALX, VBIAX, FMSDX and VWIAX, all with just about the same allocations. Also, I've spent YEARS crunching AA fund options and the result of all of that time/research is these selected AA funds.

Here is another way to look at 2020 Asset Class Performance:

You get the drawdown, annual performance, and increase from the low in a single chart.

Taken From:

Can Earnings Growth Justify Current Stock Prices?

Grantham article is downright scary. Edit: Adding: So if he is right and interest rates are still at an all time low but sure to rise at somepoint ... where do you hide?
I know it depends on your investment horizon. For investors retiring soon or relying on dividends etc... it may be downright frightening to imagine a major correction in 2021. If you have 10 to 20 years before needing a distribution, perhaps you can what? Keep more money in Cash? Thoughts?

@Stillers ... I've done a lot of reading on FPURX vs FBALX. They are so closely correlated. Good suggestions everyone. Thank you! This is a good primer but would like your opinion. https://finance.yahoo.com/news/balanced-vs-puritan-fidelity-fund-100000950.html

A little more from Grantham:

his “favorite Tesla tidbit” is that it boasts a market cap of $1.25 million for every car it sells, 140 times the GM figure of $9,000.

Investing legends Carl Icahn and Jeremy Grantham see a stock market bubble

VLAIX has two bond managers and one equity manager as contrasted with two and two for JBALX. Otherwise there doesn't seem to be much difference in responsibilities.
 
JBALX Prospectus

Messrs. Keough and Wilensky focus on the fixed-income portion of the Fund. Messrs. Buckley and Pinto focus on the equity portion of the Fund.

 
VLAIX Prospectus

Stephen E. Grant has primary responsibility for the day-to-day management of the Value Line Asset Allocation Fund’s equity portfolio and its asset allocation. Jeffrey Geffen and Liane Rosenberg have primary responsibility for the day-to-day management of the fixed income portion of the Fund’s portfolio.

From third qter report it seem you're right @BenWP.
Business Update Five months into our work-from-home approach, we were optimistic that cautiously returning the team back to our office in Salt Lake City was possible. However, shortly after Labor Day, the COVID-19 cases began to rise in the local community and so we have postponed our transition. Instead, team members may coordinate with their respective officemates and utilize our offices by request. We remain committed to doing our part to reduce the potential impact of the pandemic on our communities, as we are fortunate to be able to be equally effective working from our home offices

The institional share of Thornberg funds are no load and requires $5K at Fidelity plus $49.95 transaction fee. It is better to go with ARTYX, NTF at Fidelity with $3K minimum. I gradually move some overseas funds toward growth style over several years. Finding good managers took sometime. So far Mr. Kaufman has done very well. I am okay with 20% invested in US growth companies. Stock picking has been right on so far. The only minor negative is the higher than average expense ratio, 1.36%.

+1. But THDAX with a front-load of 4.5%... ? No, thanks.

@fred495. JHQAX is very interesting. Will review the risk profile on MFO Premium and report back.

Thanks, Sven. Look forward to your assessment of JHQAX.
A quick look at its profile indicates that in its category the fund has a MFO Risk=2 ("Conservative") , a MFO Rating=5 ("Best") and is designated a "Great Owl". In last year's March debacle, the fund lost only 1.4%. On the other hand, VSCGX, an excellent 40/60 balanced fund, lost 6.6%.
I was surprised to see that the fund had only been mentioned once in the past on the MFO forum.
Fred

To those who are interested, I checked the Dodge and Cox website. The Emerging Markets Stock Fund is listed and has a link:
https://www.dodgeandcox.com/EMSF.asp
Accessing the link, It states the following:
"We anticipate opening the Dodge & Cox Emerging Markets Stock Fund to investors in May, 2021."

@Sven Yes. I had money with Matthews. A bad experience with them over the phone years ago killed my desire to keep my money with them. MAPIX had a great 2020, but did not pay at year-end. It happened all those years ago, with one particular Quarter--- which is why I was on the phone with them.... Still shepherding money for a colleague and his wife. She has some of her stuff in MAPIX and MAINX. (The rest in DODBX and DODIX.) Ever since 2010, when I rearranged their stuff. Can't complain that much, I suppose. David lately offered us some words of assurance re: MAINX. It has switch from Q to monthly pay-outs.

I finally read the GP letter. Lots of trees, not much forest. I could not understand how the head honcho did not address the effects of COVID-19 on the travel his analysts purportedly do in order to visit companies around the globe. He said their IT department stepped up; that suggests everyone hunkered down like the rest of us. I’d like to know more.

Looking at WAGTX, its a Foreign/Small Mid with a high expense ratio of 1.98 gross and a 2% redemption fee. If I'm looking for a foreign fund (without caring if its small/mid), BGAFX and MGGPX are stand outs to me. Longer track records and lower fees and lower turnover. WAGTX has a 176% turnover. They also have better returns over 1-3-5-10 than WAGTX. So, what am I missing? Why is there so much interest in WAGTX?
Another one I follow is PRGSX which has a long track record.

@Crash, you are teasing us with PRIDX. Wish I invest in it earlier before it closed. The fund's 18% EM exposure is a decent allocation in the small and mid cap space. Asia is where the growth will be, not so much in eastern Europe and Latin America.
Also which regions in the world are in better shape dealing with their pandemic? This year it is likely those countries who are able to contain the coronavirus will able to advance their economy. My bet is on Asia. Matthews Asia, Grandeur Peaks, Rondure and Artisan are the shops I am investing with.

FWIW, JHQAX also available through Schwab, No Load/No Fee, minimum initial $100, additional $1.00.

Thanks, JD, for sharing.
Never considered using options-based funds. But, after a quick review, both SWAN & DRSK look quite promising. Need to do more DD, of course.
Thanks, again.
Fred
After doing some research, I came across JHQAX, a fund that has successfully employed an options strategy for the past seven years. M*'s last fund analysis report says that:
"Attractive fees, a transparent and consistent process, and an experienced manager elevate JPMorgan Hedged Equity ahead of its peers. The strategy maintains a Morningstar Analyst Rating of Silver for its cheapest share classes."
The fund has a standard deviation of 7.94%, a Sortino ratio of 1.41, and a 5-year total return of 10.3%. JHQAX is available at Fidelity with NTF and load waived. Min. initial investment is $1,000.
I may consider matching JHQAX with DRSK which also has an excellent but very short record.
Fred

He lost me at the first minute, where he says that twice the product (a television 2x the size of a CRT screen) at 16% less ($500 vs. $600) amounts to a 32% (2 x 16%) reduction in cost.
Of course the reduction in cost is more than half, merely because you're getting twice the product. (You're paying 5/6 for twice the product, or 5/12 for the same amount of product, for a 58͕1;% reduction in cost.)
Added note: a screen with twice the linear measurement offers 4x the viewing area (or at least it would if it still had the same 4:3 aspect ratio.)
Then he says that you couldn't buy a car with airbags in 1973. Wrong. GM sold production cars with its "Air Cushion Restraint System" to retail consumers in 1973. And that 1973 Honda Civic? 40 MPG (highway). Of course that was with no catalytic converter and leaded gasoline.
Never let bad arithmetic, misleading data and false "facts" get in the way of a good story.

Stop the crazy meaning everything...who in their right mind thought you could just waltz into the Capital and not learn the meaning of consequences...who thought we would have a break down in law and order...(I see where Macy's just announced pull out of Water Tower Place on Mag Mile, Chicago after being there 45 years...can you say no more looters and thugs in our stores please...ah but the tax monies!)...defund the police, crazy...police not letting up off a subdued suspect's neck, crazy...Tesla...Bitcoin....asset bubbles....folks thinking the virus is fake...
Honestly, I told the wife the other day...I don't know what to think anymore...
Here's to a saner, safer, more rational world and good health and good luck to all in 2021!
Baseball Fan

Here's what Russ Roberts misses. First you didn't need a college education to work at a well-paying job in 1973: for example UAW members at GM, Ford and Chrysler, or the multitude of union jobs at the auto suppliers. Second, college tuition has risen at 2.5 times the rate of inflation since the late 1970's:(tuition only) 1973 TOSU(their name!) $720 per year, 2019 $11,804. Monsieur Roberts employer Stanford University :1973 $3,135, 2019 $53,529. So unaffordable college tuition negates some of these "improvements" Roberts crows about !