Interesting ...
I took the anticipated returns as noted in the article for bonds at 3% and stocks at 6% and I ran a forecast of what my portfolio would be expected to return based upon it's current asset allocation. It bubbled close to 4%. According to Morningstar's Portfolio Manager in doing a ten year lookback (portfolio's current configuration) returned better than 8%. So, in short words I should expect about half of what I received from the market going forward for the next ten years when compared to the past ten year period. With this, I just may have to make some special investment positions from time-to-time if I want to better these projected return estimates as I'd like to at least average 5% to 6%; and, I don't want to be fully invested in stocks to do it. So, it looks as though I will have to make those spiff investment positions, from time-to-time, to achieve my return goal.

Mairs & Power
http://www.mairsandpower.com/news-and-updates/208-2015-capital-gains-and-dividends
"The Medtronic acquisition of Covidien earlier in the year created a taxable event for all Medtronic shareholders, including the Mairs & Power Balanced [& Growth] Fund. "

FYI:ETF investors have lately been seeking out safe, sound and stable stocks as the market turned more volatile. Stocks likely to make the whiz-bang moves are getting a lot less love.
Regards,
Ted
http://license.icopyright.net/user/viewFreeUse.act?fuid=MjA5MjA0MDI=
Enlarged Graphic;
http://news.investors.com/photopopup.aspx?path=webLV111315_1K.gif&docId=780668&xmpSource=&width=1000&height=696&caption=&id=780569

Maybe there are many money managers taking a look down the road they imagine and not much liking what they imagine could happen. And so, having made some very good money for themselves, some are concluding they just don't want to play that rough game anymore. It isn't just the greybeards. Just saw a blimp about Brett Lynn, manager of Janus Overseas, about to walk away from his charge at the end of 2015. He's still a young guy, hitting his prime years, yet he's had enough.
Just wondering. Given the number of liquidations being reported by The Shadow, there should be no shortage of possible replacements.

Not much new here, about which most on the discussion board are fully aware. With one exception (see last line of synopsis):
http://www.cnbc.com/2015/11/12/gundlachs-doubleline-winning-at-pimcos-expense.html
"(Ron) Redell [president of DL funds] said the firm plans on launching 14 new products in the first quarter of 2016."
14? Uh-oh. Doesn't seem to me that the current state of affairs suggests it's an optimal moment to be getting all bold and adventurous.
Well, we'll see.

FYI: When a stock you hold shows up on the list of 52-week lows, it is never a good feeling, but when it drops to a 5-year low depression starts to set in as half a decade has been wasted holding on to this loser of a stock. Gold is closing out the week at 5-year lows, and while not an equity, you can trade it using an ETF (GLD). Also, given the fact that GLD briefly overtook SPY as the largest in the world back in 2011, it probably takes up a spot on the portfolio holdings page of many investors out there.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/gold-closing-out-the-week-at-five-year-lows/
GLD Performance: http://performance.morningstar.com/funds/etf/total-returns.action?t=GLD&region=USA&culture=en_US

Here is the info from the Wasatch Funds website:
WAEMX
Current Share Price (NAV): $2.43 as of 11/12/15
0.00% (Daily % Change)

I'm saying, I smell a rat.

Here is the info from the Wasatch Funds website:
WAEMX
Current Share Price (NAV): $2.43 as of 11/12/15
0.00% (Daily % Change)

JG talks about the difference between TOTL and DBLTX.

IBD: What are the similarities and differences between the Total Return Fund and TOTL, the ETF?
Gundlach: They're not the same.
The interest-rate risk in TOTL is the same
Read more: http://www.nasdaq.com/article/is-doublelines-jeffrey-gundlach-the-new-bond-king-cm505054#ixzz3rNvBpyY9

I followed GOODX for a while after inception, but gave up. Looks like they had a decent 2012 and an okay 2013 and then fell off a cliff in '14 and '15, so now they come in at the bottom of the category.
If I recall correctly, the now-#1 holding, Walter Investment, has been high in the portfolio forever. It had a hot 2012, but since then has averaged -37% a year for the past three. Apparently the latest macro portfolio move has been to load up on commodity energy and materials.
Imho, the Goodhaven guys need to go in for comprehensive testing for value trap-itis.

FYI: Bogle’s forecasts may not be reliable guides for any specified time period, but they will likely be close to the mark over the longer term.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=722835

FYI: Vanguard Group Inc., the world’s largest mutual fund company, said two long-time managers of the firm’s funds, Lucius T. Hill and Karl E. Bandtel, will retire as of June 2016.
Regards,
Ted
http://www.bloomberg.com/news/articles/2015-11-12/two-vanguard-mutual-fund-managers-to-retire-by-middle-of-2016

Some interesting background details behind the resignation of the two independent directors from Sequoia SEQUX: http://www.nytimes.com/2015/11/13/business/huge-valeant-stake-exposes-rift-at-sequoia-fund.html?_r=0
One point that I hadn't heard before is that SEQUX bought an additional 1.5 million shares in Valeant sometime in the summer (the fund's official portfolio holdings list hasn't been updated since June 30). Also, apparently the remaining independent directors have insisted that the managers can't buy any more shares of Valeant.

"However, you simply can’t find this unique bond strategy in an ETF at this time, which is why we have continued to stick with the marginally more expensive mutual fund strategy. "
Doubleline has an ETF, TOTL.

TOTL ER = 0.65% (0.55% after temporary waiver)
BOND ER = 0.55%
DBLTX ER = 0.47%
DBLTX is marginally more expensive than what etf exactly?

Yes and no in my opinion VintageFreak. I think broad range index ETFs like the S&P 500 are definitely investing tools. I would even say more so then a managed large cap fund for many people who are seem tempted to jump to the fund of the month. Heck, see it here all the time.
Specific sector funds like gold minors, a perfect example, are certainly a traders tool. And for the last 8+ years more of a Las Vegas betting tool. Most people will loose with the minors. I think Barry is right-on point.

Why does he not provide performance of GLD ETF itself? Without it, that article could belong to any Stock Group ETF compared to the S&P 500.
News flash. All Sector ETFs are trades when you are buying a basket of stocks. That's the whole point. The S&P 500 ETF was created for TRADING not INVESTING. If it was for the latter, ETF was not needed since there is no compelling reason to "invest" intra-day.
I'm sorry Barry. You are filling quota for Bloomberg. Please publish on your own blog.

FYI: The funds are a new twist on sector investing. The idea is that investors might want broad exposure to the S&P 500 but would like to underweight a specific sector they don’t want. ETF Report sat down with Michael Sapir, chief executive officer of ProShares Advisors, to discuss the funds and the idea behind them.
Regards,
Ted
http://www.etf.com/sections/features-and-news/new-twist-on-sector-etf-investing

FYI: If you wanted to own gold in the bad old days, there were only a handful of choices: You could take physical delivery (but if you needed any size, you would incur costs for storage and security); you could buy futures contracts, but they also incur steep expenses; or you could buy the gold miners, with their “proven reserves.”
Earlier this year, I laid out the reasons I believed the gold miners were no longer a good proxy for the metal itself. The change occurred when the SPDR Gold Shares Trust exchange-traded fund gave professional and amateur investors a fast, cheap and easy way to gain instant exposure to gold.
Regards,
Ted
http://www.bloombergview.com/articles/2015-11-12/gold-miners-are-a-trade-not-an-investment
M* GLD Performance: http://performance.morningstar.com/funds/etf/total-returns.action?t=GLD&region=USA&culture=en_US

With respect to the tax case (previously reported and discussed, see for example, link below) reported in Philly paper - which claims that "Vanguard has no legal justification for charging its mutual funds artificially low management fees that reduce its reported profits and tax obligations" - it seems that one strategy [?] might be to just wait-it-out.
As reported here - http://tinyurl.com/blkrk-schwab-cuts - others are now charging around 3 bps or so for broad-based ETFs. Once others charge next to nothing, it seems (to this non-lawyer) that this might improve Vanguard's position.
Philly.com: http://articles.philly.com/2015-09-24/business/66826472_1_washington-tax-journal-tax-law-lee-sheppard