FYI: First Pacific Advisors, LP (“FPA”) announced today that it launched FPA Flexible Fixed Income Fund (FPFIX) (“the Fund”).
This marks FPA’s first new bond fund since becoming adviser to FPA New Income, Inc. (FPNIX) in 1984. FPA New Income, Inc. is the only fund in Morningstar’s Short-Term Bond category to post positive returns in every calendar year since 1984.1
FPA partners Thomas Atteberry and Abhijeet (Abhi) Patwardhan manage both funds with the same investment philosophy, process and team.
Regards,
Ted
https://www.businesswire.com/news/home/20190102005423/en

Hi Mike - At first suspected you were asking “tongue-in-cheek” ... as you and I are among those who previously owned HSGFX and fled. I track the fund a bit and have noticed his better than normal showing in ‘18. All of the above reactions are correct. Hussman has blown at least a couple opportunities to get the fund back on track (‘07-‘09 notable). So why trust him now?
The same thought you voice has occurred to me. If we enter a long, protracted, gut-wrenching bear market with major indexes off 50% or more over a decade, than this fund will shine (err - do a lot less worse) and you’d be glad to have owned it. (But God help this country.) It’s been my impression that’s the kind of scenario he’s long been expecting.
Will that happen? Dunno. Anything’s possible. NO - I won’t be sending him any money.
PS - As a timing play it may have some merrit. Not my game.

I disagree with your interpretation of the quoted statement (quoted from where?)
It suggests that employees should invest only in "funds managed by the firm", not just funds they manage, and not just managers but all employees.
Regarding employees, it would make more sense to me to confine this restriction to anyone with investing responsibilities, including analysts and traders, but not the cleaning crew, answering service, etc. assuming any of these people are employees.
In practice, money management firms may have a hard time imposing this policy. A number of firms have been sued over their retirement plans when they have included only house funds. See, e.g. this suit against SEI. Though the Barron's article cited below implies the issue may be more about excessive fees or poor performance; it claims that exclusive use of house funds is in itself okay:
" the law gives companies wide flexibility to design and run plans as they see fit. Employers aren’t required to select index funds or the lowest-cost shares; they can use their own investment products exclusively."
https://www.barrons.com/articles/fidelity-blackrock-401k-lawsuit-1539977967

@Bitzer and @Mulder420,
thanks very much for your feedback. I'm taking a hard look at Vanguard funds due to the low cost and good performance. I'm intrigued by the approach that Vanguard International Growth has taken. Good relative performance last year and also very strong on 3, 5 and 10 year performance. I'll take a look at T. Rowe Overseas Stock -- thanks for that recommendation. Thanks also for steering me to their emerging markets value and Asia Opportunities too. Will research both.
Any other thoughts from other board members?

FYI: Amid political turmoil around the world, the Morningstar Global Markets Index dropped 14% in the fourth quarter to Dec. 20, leaving the broad measure 10% below where it had started 2018.
From a bottom-up perspective, global equities are beginning to look attractive. The median stock across our 1,500-plus coverage trades at a 14% discount to our estimate of fair value. Entering the fourth quarter, we had pegged the typical stock as fairly valued. Not surprisingly, we also see more strong buying opportunities, with 6% of our coverage trading at 5 stars, up from 2% a few months ago.
Regards,
Ted
https://www.morningstar.com/articles/904716/stock-market-outlook-global-equities-are-starting-.html

Welcome to the New Year, dear friends.
Given the understandable (and rising) anxieties folks face, I tried to pursue a thoughtfully optimistic tone. In the end, I suspect most folks would not benefit from fleeing the market (since they'll mistime both the out and the eventual in) but they might benefit from a more-cautious asset allocation and the presence of a few more reliable options for their portfolio. So, that's about what I flagged.
The Ladder Select Bond folks reached out at about 5:00 a.m. today, so I'll likely chat with them this week.
FPA just launched a new income fund, a version of FPA New Income that has more high-yield exposure. Northern Trust uses high-yield as a surrogate for low-risk equity, so I'll be curious to hear what FPA's logic is.
Cheers,
David

FYI: Global markets logged a weak start to the new year, with indexes in Europe and Asia dropping on the first trading day of 2019.
The Stoxx Europe 600 was down 1.7% on Wednesday shortly after the open. France’s CAC 40 lost 2.6% and the U.K.’s FTSE 100 was down 1.9%.
The downbeat mood across markets followed a turbulent holiday period, when U.S. indexes seesawed over the Christmas week.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was broadly flat. The 10-year U.S. Treasury yield ticked down to 2.670%, from 2.684% at the close of 2018. Yields move inversely to prices.
In Asia, weak economic data sent markets lower. The China Caixin manufacturing purchasing managers index fell to 49.7 in December, according to data released Wednesday. That is the first time the sector has been in contraction territory—below 50—since May 2017.
Hong Kong’s Hang Seng Index led declines, falling 2.4% midday. The Shanghai Composite Index was off by 1.1% and Australia’s S&P/ASX was down 1.5%. Japanese stocks were closed for a public holiday.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/how-chinas-deteriorating-growth-could-ripple-through-markets-in-2019-11546397231?mod=hp_lead_pos1
Bloomberg:
https://www.bloomberg.com/news/articles/2019-01-01/asian-stocks-to-usher-in-new-year-on-cautious-note-markets-wrap?srnd=premium
MarketWatch:
https://www.marketwatch.com/story/dow-futures-sink-more-than-300-points-to-kick-of-2019-as-asian-markets-tumble-2019-01-02/print
IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-2019-stock-market-rally-lets-make-a-deal-trump/
Reuters:
https://www.reuters.com/article/us-global-markets/world-stocks-nurse-a-new-years-hangover-as-growth-worries-persist-idUSKCN1OW01N?il=0
CNBC:
https://www.cnbc.com/2019/01/02/stock-markets-dow-futures-fall-after-weak-economic-data-in-china.html
Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-start-2019-deep-in-the-red-idUSKCN1OW0I5?il=0
Asia:
https://www.marketwatch.com/story/data-showing-chinese-manufacturing-cooling-put-asia-stock-markets-in-early-hole-for-2019-2019-01-01/print
Bonds:
https://www.cnbc.com/2019/01/02/forex-markets-japanese-yen-australian-dollar-global-economy-in-focus.html
Currencies:
https://www.cnbc.com/2019/01/02/forex-markets-japanese-yen-australian-dollar-global-economy-in-focus.html
Oil:
https://www.cnbc.com/2019/01/02/oil-markets-us-crude-production-global-economy-in-focus.html:
Gold:
https://www.cnbc.com/2019/01/02/gold-markets-global-economy-stock-markets-in-focus.html
Current Futures:
https://finviz.com/futures.ashx

i searched thru all of the cefs that ipo'd that year about 10-15 when the article came out and nothing clicked for me.
Think he was wrong on the year

@ET91: Sorry but unable to help !
Regards,
Ted
https://www.barrons.com/articles/the-stock-market-crash-that-almost-no-one-heard-51545417177?tesla=y&mod=article_inline

FYI: Global stocks rose Monday, capping a volatile year for markets amid signs of progress in trade negotiations between the U.S. and China.
The Stoxx Europe 600 rose 0.4% in midmorning trade following an upbeat session in Asia. Some markets across the world were closed for the New Year’s Eve holiday. Oil prices also gained while the dollar fell slightly.
On Wall Street, futures pointed to opening gains of 0.9% for the S&P 500. Still, U.S. stocks were on course to record their worst December since 1931.
Over the weekend, President Trump tweeted that he and Chinese President Xi Jinping had recently talked by phone and made “big progress” in trade talks that are due to wrap up on March 1. A team of U.S. trade officials is expected in Beijing the week of Jan. 7 for several days of talks.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-rise-to-end-turbulent-2018-11546247179?mod=hp_lead_pos1
Bloomberg:
https://www.bloomberg.com/news/articles/2018-12-30/u-s-stock-futures-rally-after-trump-xi-big-progress-phonecall?srnd=premium
MarketWatch:
https://www.marketwatch.com/story/us-stock-futures-climb-over-trade-deal-hopes-in-last-session-of-2018-2018-12-31/print
IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-top-stocks/
Reuters:
https://www.reuters.com/article/us-usa-stocks-lastday/wall-street-may-gain-monday-but-unlikely-to-mute-december-losses-idUSKCN1OU00S
CNBC:
https://www.cnbc.com/2018/12/31/stock-market-wall-street-stocks-eye-us-china-trade-talks.html
Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-in-tentative-new-years-eve-rise-after-bruising-2018-idUSKCN1OU0C1
Asia: (Most Asian Markets Closed)
https://www.marketwatch.com/story/hong-kong-stocks-rise-in-abbreviated-asian-trading-day-2018-12-30/print
Bonds: (Early Close Bond Market 2:00 EST)
https://www.cnbc.com/2018/12/31/bond-market-yields-under-pressure-as-market-volatility-continues.html
Currencies:
https://www.cnbc.com/2018/12/28/forex-markets-japanese-yen-swiss-franc-us-china-trade-in-focus.html
Oil:
https://www.cnbc.com/2018/12/31/brent-crude-rises-but-set-for-first-yearly-drop-since-2015.html
Gold:
https://www.cnbc.com/2018/12/31/gold-set-for-first-annual-decline-in-three-years.html
Current Futures:
https://finviz.com/futures.ashx

Is this Bill Gross's fund ?!?!?!

Yes and no. If the question is whether Gross manages this fund, Shadow's yes is the answer.
If the question is whether this is the billion dollar fund that garnered all the PR, the answer is no. This fund is a teeny, tiny $6.9M fund sold in variable annuities. It's not even a clone. Compare the fact sheets:
Variable Insurance Trust (VIT) Portfolio fact sheet
Mutual fund fact sheet
"shares of the Portfolio are only eligible to be held by insurance company separate accounts on behalf of variable insurance contract owners, or certain qualified retirement plans"

We file a joint return, so it's $270/month for EACH of us. I deferred my SS until I was 70, so it's not as big a hit for me as it is for the wife, who wanted to collect her SS at age 65. Too bad!

There is an Institutional Share (JUCBX) and Service Share (no symbol) in the Aspen Series.
From this filing, https://www.sec.gov/Archives/edgar/data/906185/000119312518039980/d533015d485apos.htm ,
the answer to your question would be "yes".
From the filing:
Management
Investment Adviser: Janus Capital Management LLC
Portfolio Manager: William H. Gross is Executive Vice President and Portfolio Manager of the Portfolio, which he has managed since January 2015.

The macroeconomic footprint was driven by several factors. In the second year of the Donald Trump presidency, he delivered on some of his promises and started a trade war with China, although a temporary truce was reached lately. A positive for markets overall were Trump’s tax cuts, which gave a boost to the U.S. GDP.
http://mutualfunds.com/news/2018/12/25/mutual-fund-scorecard-annual-edition/

Krugman data analysis from yesterday:
... around 1/3 of the surge in after-tax profits actually goes to foreigners. That's probably enough to ensure that the tax cut actually made America poorer. Great work all around.

FYI: From time to time, Barron’s writes about preferred stocks, which are of particular interest to income-seeking investors. They aren’t as sexy as common stocks because their price moves—up or down—are more restrained. But that relative stability attracts some folks, as does the offer of juicier dividend yields, compared with those of plain equities. Moreover, when preferred prices fall significantly—as some have now—there’s the potential for capital gains, too.
Regards,
Ted
https://www.barrons.com/articles/why-now-could-be-the-time-to-look-at-preferred-stocks-51546042631?mod=djem_b_Weekly Feed for Barrons Magazine
WSJ Preferred Stock Table:
http://www.wsj.com/mdc/public/page/2_3024-Preferreds.html?mod=mdc_uss_pglnk
Quantum Online.Com
http://www.quantumonline.com/QuickStart.cfm
KEY-J:
http://www.quantumonline.com/search.cfm?tickersymbol=KEY-J&sopt=symbol
COF-G:
http://www.quantumonline.com/search.cfm?tickersymbol=COF-G&sopt=symbol
TCF-D:
http://www.quantumonline.com/search.cfm?tickersymbol=TCF-D&sopt=symbol

While I appreciate the thought, I'm not infallible (as @Junkster well knows) and I prefer the adage: teach someone to fish ...
With that in mind, IMHO the best source is the documentation (RTFM), not some person, even the manager who may not be responsible for the bookkeeping. The prospectus reads:

FUND DISTRIBUTIONS
The Fund distributes substantially all of its net investment income to shareholders in the form of dividends. The Fund intends to declare and distribute income dividends every two weeks to shareholders of record.

I don't know how a fund could accrue dividends on the 13 days out of every fortnight that it didn't declare dividends.
Since Junkster mentioned PIMCO, here's PIMCO's page summarizing its funds' distribution schedule. It seems to give a pretty clear description of how daily accrual works (and who gets the divs):

Daily Accrual Dividends: Dividends are declared daily to that day's "settled" shareowners of record for the amount of net investment income earned that day.

I'm not quite clear on what you're asking. I've got the part where you have to take your first RMD by April 1 (note 1, not 15) of next year, and you've taken half so far (in the form of QCDs).
It sounds like you want to use the other half for income. But it's not at all clear whether your concern is over CG distributions inside the IRA or outside. In what follows, I'm assuming that they're inside, though the next couple of paragraphs apply either way.
I think that CG distributions are a distraction. IMHO they are simply return of principal. So it doesn't matter if you sell fund shares in your IRA to generate cash or take CG divs, it amounts to the same thing.
The reason why I view them as return of principal is: a fund owns various securities. Say that some of them appreciate. The fund has unrealized gain. If the fund swaps those securities for other securities, the principal is unchanged, but the fund has realized gain.
No difference in your principal. But due to tax laws, in December, the fund is (conceptually) required to sell off some of its principal to pay those cap gains divs. (For investors who "reinvest" those divs, it doesn't have to sell some holdings; on paper the investors get cash that goes right back into the fund to "rebuy" the same fund holdings.)
If you're tapping principal for income (as I feel one does by taking CG divs in cash), then the question becomes what is a good time to sell principal? I leave it to each individual to guess whether this is a good time to lighten up on investments or a good time to be buying.
The other half of your question seems to be, given that you're going to be taking a certain amount of cash out of your IRA for income in the next 12 months and four days, whether you're better off taking part of that now, or all of it next year.
If you're in the 24% bracket in both 2018 and 2019, then from an income tax perspective, it won't matter. Either way, that 2nd half of your RMD will be taxed 24%. But if it would push you into the 32% bracket next year, you'd be better off taking it now - even if you leave it invested in funds in a taxable account (so as not to be tapping principal now).
There may be another concern. In the 24% bracket, you're likely paying IRMAA on Medicare. (Some retired people have medical coverage paid for as part of their retirement benefits; they may be protected from IRMAA.)
I haven't gone back to cross check the IRMAA brackets against the income brackets, that's something you would have to do yourself. Especially since IRMAA is based on MAGI that includes the 15% of SS that isn't otherwise taxed and non-taxable income. (If your CG divs are outside of your IRA, they would also get included in MAGI.)

https://www.sec.gov/Archives/edgar/data/803020/000114420418066379/tv509985_497.htm
(I class also)
https://www.sec.gov/Archives/edgar/data/803020/000114420418066376/tv509984_497.htm
497 1 tv509985_497.htm 497
The OBERWEIS FUNDS
Oberweis International Opportunities Fund
SUPPLEMENT DATED December 27, 2018
TO THE PROSPECTUS DATED MAY 1, 2018
The Oberweis International Opportunities Fund has resumed sales of its shares and is fully open for investment to both existing shareholders and new investors.
December 27, 2018
THE OBERWEIS FUNDS
3333 Warrenville Road, Suite 500
Lisle, Illinois 60532
1-800-245-7311

FYI: Sears, the 125-year-old icon, has 24 hours to survive.
The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole, people familiar with the situation tell CNBC. Without that bid or another like it, liquidators will break the company up into pieces.
Regards,
Ted
https://www.cnbc.com/2018/12/27/sears-may-need-to-liquidate-if-no-bid-comes-in-by-tomorrow.html

Trump leaves the country, markets up +5%.
But then Trump comes back......unfortunately....

We need to build a wall to keep him out!!!! :)