@rforno I don't think FD1000 really cares if a fund has an expense ratio of less than 0.1%. He routinely recommends and invests in funds with higher expense ratios on MFO, according to his own posts. This is about defending POTUS's anti-ESG actions.

Hi, guys.
We posted our September issue late on the evening of September 1st, as usual, but decided to delay this announcement until this morning. We were thinking that you’d rather get the reminder when you were fresh in the morning, rather than late at night. As Derf notes in a separate thread, I'd be curious to hear folks reflection on the decision.
My publisher’s letter celebrated the start of the college year, my Propaganda class, the propaganda that you’re being bombarded with, the rising influence of frantically trading young stock investors (uhh, 20-25% of daily volume!), strategies to consider for managing a weak dollar environment and a sort of buyers guide for face masks. It’s a fairly busy missive.
We face uncertain times, and so we shared stories of three funds whose managers have seen many years and many market adventures. They seem like the sorts of people you’d want at the helm just about now.

• Jim Callinan manages the five-star Osterweis Emerging Opportunities Fund (OSTGX) now, but his career encompasses the frantic '90s and a Morningstar manager of the year award. We profile the fund.
  
• Eric Cinnamond and Jayme Wiggins manage one of the two top-performing small value funds, Palm Valley Capital Fund (PVCMX), up 15% YTD which is about 30% above their peers. That success shouldn’t surprise anyone who’s been following their absolute-value strategy back 20 years. Palm Valley just became available through TD Ameritrade. We explain why I just added PVCMX to my portfolio.
  
• Mark Oelschlager managed the very fine Pin Oak Equity Fund (POGSX) until he and Tina struck out on their own. They’re now replicating his Pin Oak strategy in their new all-cap Towpath Focus Fund (TOWFX). We share a belated Launch Alert of the youngster.

I think a conversation between the three would be fascinating if only because their views of the markets and investing are so dramatically different.
Complementing those individual fund-focused pieces, both Lynn Bolin and I take on the question of alternative funds that are demonstrably worth keeping around. Lynn’s piece is the broader of the two, “Alternative and Global Funds during a Global Recession.” I stuck close to my knitting with “The Long (and Short) of It: Top-Tier Long-Short Options" and starts with a short eye-roll in response to the WSJ observation that "most" long-short funds are a disappointment. (Duh.)
Ed Studzinski offers a surprising recommendation of “Where Not to Invest.” Hint: he’s not worrying you about stocks.
Charles Boccadoro takes inspiration from Warren Buffett’s recent comments about the meaning of "long-term".
In a mini-T. Rowe Price fest, I explain the decision to add T. Rowe Price Multi-Strategy Total Return (TMSRX) to my portfolio and we offer a Launch Alert for the active, low-cost ETF version of four of T. Rowe Price’s large-cap funds.
And, as always, Chip’s compendium of manager changes, plus funds in reg (Dodge & Cox is about to hit the emerging markets and T Rowe Price is launching active ETF versions of huge funds), liquidations, and other industry news.

Hi @MikeM, vaccine disappointment would definitely be #1 on the list!
Other possibilities:
2. This V shaped recovery turns into a W, either because stimulus peters out or we get a second wave like the Spanish flu.
3. A disputed result in the presidential election leads to chaos and disorder in November, crippling both stimulus and virus-fighting actions (if those are indeed still needed)
4. A banking crisis, maybe starting in emerging markets or one of the weaker Southern European countries, and stimulus-weary governments don't act fast enough to snuff it out.
5. Hints emerge that a Biden adminstration is going to make Elizabeth Warren Treasury Secretary and / or adopt an aggressive antitrust policy regarding the tech giants
6. Fed starts dialing back the QE a little too soon.
I don't think any of these are all that likely, but that's what I come up with.

@MikeM, Good points. I understand there’s a difference between miners and the metal. They do tend to run together - but the mining stocks / funds are more volatile, as you’ve noted before. I’ve messed around off and on with OPGSX - one of the better mining funds - because I happen to invest at that house. I bailed 100% from it a month ago at a NAV of $30.08. I’ve since made a couple small token buys back in as it fell quite a bit after I sold. Today it closed at $3.12 . I don’t have any predictions for the metal or the fund. Might nibble more on a big pullback.
As for gold itself, here’s a 10 year price chart. Notice how erratic the price has been. The article I linked was very vague. I suppose we must assume they bought the metal in some form. While 5% doesn’t sound like much, gold tends to be so volatile that I’d call 5% a pretty good sized slug. I linked the story, of course, just to portray this recent trend in investing. As others here have noted, if the Ohio pension fund had been more prescient they’d have bought their gold a year ago for 30 or 40% less.
Chart covers gold’s price the past decade. Looks like it began this year around $1500-$1550. Today, it’s just shy of $2,000. I think it’s the very low interest rates that have investors looking for alternatives of all types. Also, some think the approaching election turmoil / possibly shooting in the streets, will propel gold to new highs. Ughh ...

https://www.fedsmith.com/2020/09/01/32-return-one-tsp-fund-in-5-months/
. stocks just finished their best month since April. The monthly returns for August continued an extraordinary rally fueled by stimulus money pouring from the federal government, signs of economic revival and apparent progress toward a coronavirus vaccine.
Best TSP Returns for August
The C Fund in the Thrift Savings Plan (TSP) advanced 7.19% and the S Fund went up 7.20% in August. The 7.20% return is the best return for August among all of the TSP Funds.
This is the fifth month in a row that the C and F Funds have provided positive returns for investors. The C Fund has ranged from a return of 12.81% in April (after falling 12.4% in March) to its lowest monthly return of 1.99% in June.
Imho - Maybe reasonable just add more index or tsp funds /spy qqq, these appears doing quite well compared to most hefty high fees active managed funds

@FD1000 EAGG: 0.1%
SUSL: 0.1%
USSG: 0.1%

https://www.schwab.com/resource-center/insights/section/on-investing
Schwab Fall issue
Come What May
1 0
by
Walt Bettinger
| AUGUST 24, 2020
Whatever the circumstances, we’re here to help.
The Law of Averages and Your Portfolio
9 3
AUGUST 24, 2020
How outsize gains plus outsize losses may produce long-term success.
Tax Withholding in Retirement
3 0
AUGUST 24, 2020
How to help ensure you prepay enough taxes once you’re no longer working.
Socially Responsible Investing in Your 401(k)
AUGUST 24, 2020
What to know before adding socially responsible investments to your retirement portfolio.
How to Shop for Bonds
3 0
AUGUST 24, 2020
You comparison-shop for everything else—so why not for bonds?
Can Your Family Members Collect Social Security When You File?
by
Carrie Schwab-Pomerantz
| AUGUST 24, 2020
Social Security benefits begin with you—but they don’t end there.
Enjoy
....

+1.

KISS=keep it simple stupid in the lowest expense ratio and eliminate all the rest.
If you can have a fund with ER under 0.1% I'm for it. Let me know which green fund has ER under 0.1%

msf +1 Doh! I should have checked the prospectus first.

https://www.google.com/amp/s/seekingalpha.com/amp/article/4371744-stocks-for-long-run
Stocks For The Long Run
Sep. 1, 2020 7:00 AM
Summary
Jeremy Siegel's "Stocks for the Long Run" is a highly acclaimed book.
However, the evidence shows that stocks can underperform riskless investments for very long periods.
My tale is from my collection of stories that show the path to the prudent investment strategy.
Any choices or ideas added for this list besude author's SPY
Wmt
Apple
Tesla
QQQ
ITOT
Home depot
Are few that I think may fit this list
Regards

@40 50% probably best...have changed mama portfolio based in many MFOers here @40s% stocks and rest in fixed incomes cash 16 months ago, never been happier

Good find, though no need to go scavenging for the information. It's in the prospectus.
On p. 47 (pdf p. 49) is a section entitled THE PORTFOLIO MANAGERS

Each Fund is managed with a collaborative team approach that utilizes the skills and insights of the entire research team. Trades may be initiated by any of the portfolio managers or analysts on the team, but the named portfolio managers are responsible for the day-to-day oversight and management of the Fund. The Guardian Portfolio Manager’s primary responsibility is to provide oversight of the Fund’s investments and allocations at a strategic level, whereas the Lead Portfolio Managers also have the tactical responsibility for selecting and inputting specific trades.

https://www.grandeurpeakglobal.com/documents/grandeurpeakglobal-pro-20200831.pdf
For extra credit, what's an Associate Portfolio Manager? The position isn't described above. Only one fund, Global Contrarian GPGCX has an associate manager. This fund is under a year old, so perhaps Grandeur Peak hasn't yet gotten around to updating this section of the prospectus.

https://www.sec.gov/Archives/edgar/data/836487/000110465920100504/a20-27131_3497.htm
497 1 a20-27131_3497.htm 497
Prospectus and Summary
Prospectus Supplement
August 31, 2020
Morgan Stanley Institutional Fund, Inc.
Supplement dated August 31, 2020 to the Morgan Stanley Institutional Fund, Inc. Prospectus and Summary Prospectus dated April 30, 2020, as amended May 11, 2020
Global Opportunity Portfolio (the "Portfolio")
Effective at the close of business on December 31, 2020, the Portfolio will suspend offering Class I, Class A, Class C, Class IR and Class IS shares of the Portfolio to new investors, except as follows. The Portfolio will continue to offer Class I, Class A, Class C, Class IR and Class IS shares of the Portfolio: (1) through certain retirement plan accounts, (2) to clients of certain registered investment advisors who currently offer shares of the Portfolio in their asset allocation programs, (3) to directors and trustees of the Morgan Stanley Funds, (4) to Morgan Stanley affiliates and their employees and (5) to benefit plans sponsored by Morgan Stanley and its affiliates. The Portfolio will continue to offer Class I, Class A, Class C, Class IR and Class IS shares of the Portfolio to existing shareholders. The Portfolio may recommence offering Class I, Class A, Class C, Class IR and Class IS shares of the Portfolio to new investors in the future. Any such offerings of the Portfolio's Class I, Class A, Class C, Class IR and Class IS shares may be limited in amount and may commence and terminate without any prior notice.
The Portfolio has suspended offering Class L shares to all investors. Class L shareholders of the Portfolio do not have the option of purchasing additional Class L shares. However, existing Class L shareholders may invest in additional Class L shares through reinvestment of dividends and distributions.
Please retain this supplement for future reference.
IFIGOPSUMPROSPT 8/20

Found this brief tidbit from a July 15, 2015 newsletter:
An excerpt from a sentence:
"...guardian portfolio managers (Robert, Blake, & Randy) providing oversight and asset allocation." They probably provide insight to those overseeing/managing the funds.

“Investor: I am 69 years old and consider myself a moderate risk investor. About 80% of my portfolio is in stocks/stock funds, 17% is in bonds, and 3% in cash.”
Hmmm .... Suppose some of this depends on what specific stock funds are owned. But, by what standard is 80% in equities considered a moderate risk allocation?
Interestingly, Mandell’s main recommendations are to go to a 65/35 portfolio and try to eliminate sector duplication in the portfolio by eliminating overlapping funds. Geez - I hope he doesn’t change people money for such lame advice.

Thanks guys. Quick clarification, my "sell all" mandate has been on stock mutual funds and CEFS and closing out my position in VTI. Still mostly holding my asset allocation and bond funds and slowly positioning to more conservative on the bond side. Love PTIAX and especially GIBLX right now. In the real long term I'll be a buyer of ARKK. Very smart folks. I remember the manager selling the virtues of TESLA even when others were talking bankruptcy. They held a 10% position and never wavered. Need to respect that.

@wxman123: I'm on board with what you 're doing.
Still afloat, Derf

Hi wxman123, My late father taught me not to chase the market. In a strong upward trending bull market that if I was not already positioned don't chase it. Buy what others hate as long as you are getting paid to hold it. I have already done that so now I wait. My best to you. Skeet

I'm cashing out almost anything with a gain YTD at the moment (not much unfortunately) overall portfolio down .50 YTD (and actually thankful for that). I can't figure this market out. I get the "new" economy and Covid stocks but I can't bring myself to buy anything up 100% YTD let alone 1000% over the past year (TESLA). The things I like to buy everyone hates. After due consideration I'm going to hold my nose and buy DON in the coming weeks/months. The midcaps get overlooked in these types of environments. DON is down 19% ytd. I think it's a good bet to outperform next year.