https://bilello.blog/2024/the-state-of-the-markets-october-2024
"High Yield Spreads are now at their tightest levels since June 2007 (2.89%) and Investment Grade Spreads at their tightest levels since March 2005 (0.83%). Bond investors are reaching for yield and behaving as if there will never be a default cycle again."
"Rents have been held down by a multi-family construction boom that significantly increased supply and is leading to the highest vacancy rates (6.7%) since 2020."
"And wage growth of close to 4% over the past year was 1.5% higher than the increase in CPI inflation. That was the 17th straight month in which wages outpaced inflation over the prior year, a great trend for the American worker that hopefully continues."

Thanks @yogibearbull.
I'd like to add (since I just turned 65):

2025 standard deduction over 65
There's an additional standard deduction for taxpayers 65 and older and those who are blind. For 2025 that additional amount is $1,600 ($2,000 if unmarried and not a surviving spouse).
Those eligible can add the extra standard deduction to the regular amount for their filing status. So, a single taxpayer 65 or older (or who is blind) can claim a total standard deduction of $17,000 on their 2025 federal tax return.

Source:
https://kiplinger.com/taxes/the-new-standard-deduction-is-here
Also, found these contribution limits for 2025:
"Remember there are catch-up provisions that increase some of these limits"
-I noticed they missed the $1K catch-up provision for HSA

https://www.sec.gov/Archives/edgar/data/1396092/000199937124013654/clifford-497_102124.htm
497 1 clifford-497_102124.htm SUPPLEMENT DATED OCTOBER 21, 2024
Clifford Capital Focused Small Cap Value Fund
Investor Class (FSVRX)
Institutional Class (FSVVX)
Super Institutional Class (FSVQX)
Supplement dated October 21, 2024
to the Prospectus, Summary Prospectus and Statement of Additional Information,
each dated January 31, 2024
The Board of Trustees (the “Board”) of World Funds Trust (the “Trust”) has approved a Plan of Liquidation (the “Plan”) for the Clifford Capital Focused Small Value Fund (the “Fund”), which became effective on October 21, 2024. Clifford Capital Partners LLC (the “Adviser”) recommended that the Board approve the Plan due to a diminished asset base and correspondingly rising expenses of the Fund, which the Adviser has indicated that it is no longer willing to continue to subsidize. As a result, the Board concluded that it is in the best interest of the Fund’s shareholders to liquidate the Fund. The Fund is expected to liquidate on or about November 20, 2024 (the “Liquidation Date”).
Effective October 21, 2024, the Fund was closed to new and subsequent investments. Until the Liquidation Date, Fund shareholders may continue to reinvest dividends and distributions in the Fund or redeem their shares. Any remaining shareholders on the Liquidation Date will receive a distribution of their remaining investment value in the Fund based on the instructions listed on your account. The sale or liquidation of your shares will generally be a taxable event. You should consult your tax advisor about your tax situation.
As shareholders redeem shares of the Fund between October 21, 2024 and the Liquidation Date, the Fund may not be able to maintain its stated investment goal and other investment policies. Accordingly, the Fund may deviate from its stated investment goal and other investment policies during the period between October 21, 2024 and the Liquidation Date.
If you have questions or need assistance, please contact your financial advisor directly or the Fund toll-free at 1-800-673-0550.
This Supplement, the Fund’s Prospectus, Summary Prospectus and Statement of Additional Information provide relevant information for all shareholders and should be retained for future reference. The Fund’s Prospectus, Summary Prospectus and Statement of Additional Information have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling the Fund toll-free at 1-800-673-0550.

Only if you knew what your votes means for your portfolio success -
https://beehiiv-publication-files.s3.amazonaws.com/uploads/downloadables/e6dae1e5-669f-4741-8d80-ba4aa229f6b0/879eb7a6-7307-4489-a228-56400c7e804b/The Compound's election chartbook.pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAQCMHTQSERNC675WH/20241021/us-east-1/s3/aws4_request&X-Amz-Date=20241021T121839Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=3f2c24892fd6d2fbaf31807449341428bf3f55a28177e8da91c9fcb29b413b64

From Fidelity:
https://institutional.fidelity.com/app/proxy/content?literatureURL=/9918563.PDF

https://www.sec.gov/Archives/edgar/data/754510/000075451024000276/filing8195.htm
497 1 filing8195.htm PRIMARY DOCUMENT
Supplement to the
Fidelity® Small Cap Growth Fund
Class A, Class M, Class C, Class I, and Class Z
September 28, 2024
Prospectus
The following information supplements information found in the "Fund Summary" section under the "Purchase and Sale of Shares" heading.
The fund is currently closed to new investors. For more information, see the "Additional Information about the Purchase and Sale of Shares" section of the prospectus. Remember to keep shares in your fund position to be eligible to purchase additional shares of the fund.
The following information supplements information found in the "Shareholder Information" section under the "Additional Information about the Purchase and Sale of Shares" heading.
Effective the close of business on October 16, 2024, new positions in Fidelity® Small Cap Growth Fund (the fund) may no longer be opened. Shareholders of the fund on that date may continue to add to their fund positions existing on that date. Investors who did not own shares of the fund on October 16, 2024, generally will not be allowed to buy shares of the fund except that new fund positions may be opened: 1) by participants in most group employer retirement plans (and their successor plans) if a qualifying fund is already established as an investment option under the plans (or under another plan sponsored by the same employer), 2) by participants in a 401(a) plan covered by a master record keeping services agreement between Fidelity and a national federation of employers that included a qualifying fund as a core investment option, 3) for accounts managed on a discretionary basis by certain registered investment advisers that have discretionary assets of at least $500 million invested in mutual funds and already included the fund in their discretionary account program, 4) by a mutual fund or a qualified tuition program for which Fidelity serves as investment manager, 5) by a portfolio manager of the fund, 6) by a fee deferral plan offered to trustees of certain Fidelity® funds, if the fund is an investment option under the plan, 7) by qualified intermediaries to facilitate in-kind redemption activity when deemed by the Adviser to be in the best interests of the fund, and 8) by certain asset pools associated with an organization that already offers a qualifying fund as an investment option in its retirement plan(s). These restrictions generally will apply to investments made directly with Fidelity and investments made through intermediaries. Investors may be required to demonstrate eligibility to buy shares of the fund before an investment is accepted.
ASCP-PSTK-1024-138
1.808092.138
October 16, 2024
Supplement to the
Fidelity® Small Cap Growth K6 Fund
September 28, 2024
Prospectus
The following information supplements information found in the "Fund Summary" section under the "Purchase and Sale of Shares" heading.
The fund is currently closed to new investors. For more information, see the "Additional Information about the Purchase and Sale of Shares" section of the prospectus. Remember to keep shares in your fund position to be eligible to purchase additional shares of the fund.
The following information supplements information found in the "Shareholder Information" section under the "Additional Information about the Purchase and Sale of Shares" heading.
Effective the close of business on October 16, 2024, new positions in Fidelity® Small Cap Growth K6 Fund (the fund) may no longer be opened. Shareholders of the fund on that date may continue to add to their fund positions existing on that date. Investors who did not own shares of the fund on October 16, 2024, generally will not be allowed to buy shares of the fund except that new fund positions may be opened: 1) by participants in most group employer retirement plans (and their successor plans) if a qualifying fund is already established as an investment option under the plans (or under another plan sponsored by the same employer), 2) by participants in a 401(a) plan covered by a master record keeping services agreement between Fidelity and a national federation of employers that included a qualifying fund as a core investment option, 3) for accounts managed on a discretionary basis by certain registered investment advisers that have discretionary assets of at least $500 million invested in mutual funds and already included the fund in their discretionary account program, 4) by a mutual fund or a qualified tuition program for which Fidelity serves as investment manager, 5) by a portfolio manager of the fund, 6) by a fee deferral plan offered to trustees of certain Fidelity® funds, if the fund is an investment option under the plan, 7) by qualified intermediaries to facilitate in-kind redemption activity when deemed by the Adviser to be in the best interests of the fund, and 8) by certain asset pools associated with an organization that already offers a qualifying fund as an investment option in its retirement plan(s). These restrictions generally will apply to investments made directly with Fidelity and investments made through intermediaries. Investors may be required to demonstrate eligibility to buy shares of the fund before an investment is accepted.
SCPK6-PSTK-1024-104
1.9886693.104
October 16, 2024
Supplement to the
Fidelity® Small Cap Growth Fund and Fidelity® Small Cap Value Fund
September 28, 2024
Prospectus
The following information supplements information for Fidelity® Small Cap Growth Fund found in the "Fund Summary" section under the "Purchase and Sale of Shares" heading.
The fund is currently closed to new investors. For more information, see the "Additional Information about the Purchase and Sale of Shares" section of the prospectus. Remember to keep shares in your fund position to be eligible to purchase additional shares of the fund.
The following information supplements information found in the "Shareholder Information" section under the "Additional Information about the Purchase and Sale of Shares" heading.
Effective the close of business on October 16, 2024, new positions in Fidelity® Small Cap Growth Fund (the fund) may no longer be opened. Shareholders of the fund on that date may continue to add to their fund positions existing on that date. Investors who did not own shares of the fund on October 16, 2024, generally will not be allowed to buy shares of the fund except that new fund positions may be opened: 1) by participants in most group employer retirement plans (and their successor plans) if a qualifying fund is already established as an investment option under the plans (or under another plan sponsored by the same employer), 2) by participants in a 401(a) plan covered by a master record keeping services agreement between Fidelity and a national federation of employers that included a qualifying fund as a core investment option, 3) for accounts managed on a discretionary basis by certain registered investment advisers that have discretionary assets of at least $500 million invested in mutual funds and already included the fund in their discretionary account program, 4) by a mutual fund or a qualified tuition program for which Fidelity serves as investment manager, 5) by a portfolio manager of the fund, 6) by a fee deferral plan offered to trustees of certain Fidelity® funds, if the fund is an investment option under the plan, 7) by qualified intermediaries to facilitate in-kind redemption activity when deemed by the Adviser to be in the best interests of the fund, and 8) by certain asset pools associated with an organization that already offers a qualifying fund as an investment option in its retirement plan(s). These restrictions generally will apply to investments made directly with Fidelity and investments made through intermediaries. Investors may be required to demonstrate eligibility to buy shares of the fund before an investment is accepted.

On USFR, I figure that current distribution yield is between 5.00% (the last dividend only div by current price) and 5.20% (average of the last two dividends div by current price). The last div was lower than the average of the past few months.
(Of course there's more than one way to figure current yield; your choice.)

FirstHand SVVC is a closed-end business development company (BDC) on pink sheets (OTC). It doesn't show up in the CEFConnect database, but has quotes at M*, Yahoo Finance.
AUM $551K, Price 6c
https://finance.yahoo.com/quote/SVVC/key-statistics/
It seems that is has slipped in 2-20 hedge-fund type fees under BDC/CEF structure that isn't allowed for listed funds. Typically, incentives for listed funds are tiny %. Next, I will check its prospectus history. Not sure about rules for pink sheet/OTC funds.
Edgar/SEC 10-Q https://www.sec.gov/ix?doc=/Archives/edgar/data/1495584/000143774924026819/sccv20240630d_10q.htm
Edit/Add. 10/2023 notice of withdrawal as a BDC & liquidation. So, whatever is going on in OTC trading of SVVC isn't significant for typical fund investors.
https://www.sec.gov/Archives/edgar/data/1495584/000139834423019276/fp0085668-1_ex991.htm
https://www.sec.gov/ix?doc=/Archives/edgar/data/1495584/000139834423019276/fp0085668-1_8kixbrl.htm

One of the stunning numbers in the Score Card is the FirstHand fund family. Its three funds have an average ER of -1.12.
The culprit is a CEF Firsthand Technology Value Fund SVVC with an ER of -7.21.
I checked with Lipper and their folks say it's correct, referencing this 10K filing.
To my knowledge, the fund appears to have lost nearly all its AUM since launching in 2011.
Still can't quite get my head around this.
Here's an excerpt:

NOTE 4. INVESTMENT MANAGEMENT FEE
The Company has entered into an investment management agreement (the “Investment Management Agreement”) with FCM pursuant to which the Company will pay FCM a fee for providing investment management services consisting of two components—a base management fee and an incentive fee.
The base management fee will be calculated at an annual rate of 2.00% of our gross assets. For services rendered under the Investment Management Agreement, the base management fee will be payable quarterly in arrears. The base management fee will be calculated based on the average of (1) the value of our gross assets at the end of the current calendar quarter and (2) the value of the Company’s gross assets at the end of the preceding calendar quarter; and will be appropriately adjusted for any share issuances or repurchases during the current calendar quarter. Base management fees for any partial month or quarter will be pro-rated.
The incentive fee is determined and payable in arrears as of the end of each calendar year (or upon termination of the Investment Management Agreement, as of the termination date), commencing on April 15, 2011, and equals 20% of the Company’s realized capital gains, if any, on a cumulative basis from inception through the end of each calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid incentive fees, provided that the incentive fee determined as of December 31, 2023, will be calculated for a period of shorter than twelve calendar months to take into account any realized gains computed net of all realized capital losses and unrealized capital depreciation from inception. For the year ended December 31, 2023, there were no Incentive fee adjustments. For the year ended December 31, 2022, there were no incentive fee adjustments. For the year ended December 31, 2021, there were no incentive fee adjustments.
Effective September 30, 2023, the Company has entered into a fee waiver agreement with FCM (the “Fee Waiver Agreement”). Pursuant to the terms of the Fee Waiver Agreement, FCM agrees to (1) waive future accruals of the base management fee starting October 1, 2023, through December 31, 2024, with future recoupment to the extent permitted by the Investment Management Agreement, and (2) waive $2.5 million of base management fee that has been accrued but unpaid prior to but unpaid as of September 30, 2023. Any accrued base management fee waived under section (2) may be recouped by FCM within ten years.

Yep. I added more last week. I am probably down about 5% in the current foray into this stock - third time in four years. I started the first time during Covid at near $100. I will hate to give back any profits I already took on BA stock. Each time I buy, I think it is a forever holding but I end up selling for one reason or the other. This time I bought it in a taxable account.
P.s.: corporate wide layoffs are a nice event to get rid of a lot of fat (e.g., redundant management) in the system. Some managers also relish these events to get rid of employees who produce less but take up too much of team resources, including management time, but which employees are otherwise pain to get rid of because of various entrenched corporate idiosyncrasies (e.g., power hogging HR). In all my work, for sometime after each mass layoff, the productivity of my group increased. Some tech companies layoff 5% of their work force every year - does not mean they do not grow. I know it sucks to be unemployed but I can be objective about it because I was unemployed as many years as I was employed.

I wish I'd been as thick-skinned as you, about being unemployed. Only a prostate exam is worse.

Yep. I added more last week. I am probably down about 5% in the current foray into this stock - third time in four years. I started the first time during Covid at near $100. I will hate to give back any profits I already took on BA stock. Each time I buy, I think it is a forever holding but I end up selling for one reason or the other. This time I bought it in a taxable account.
P.s.: corporate wide layoffs are a nice event to get rid of a lot of fat (e.g., redundant management) in the system. Some managers also relish these events to get rid of employees who produce less but take up too much of team resources, including management time, but which employees are otherwise pain to get rid of because of various entrenched corporate idiosyncrasies (e.g., power hogging HR). In all my work, for sometime after each mass layoff, the productivity of my group increased. Some tech companies layoff 5% of their work force every year - does not mean they do not grow. I know it sucks to be unemployed but I can be objective about it because I was unemployed as many years as I was employed.

Ryanair or Boeing's issues, here?
https://www.accuweather.com/en/weather-news/184-passengers-and-crew-evacuated-as-ryanair-boeing-plane-catches-fire-on-runway-in-italy/1705397

First the port workers, now Boeing: 1.35^0.25 = 1.078 or +7.8% wage growth annualized, not counting other goodies. Powell won't be happy.

and finally,
"Boeing, Union Reach Tentative Deal to End Strike. Wages Would Jump 35%."
https://www.barrons.com/articles/boeing-union-tentative-deal-strike-b8023738?mod=Searchresults

Expanded Family Score Card to include number of active and passive funds, number of Three Alarm and Great Owl funds. The tool also now includes family revenue, based on AUM times ER, in millions per year. Some of the numbers are pretty stunning. Normalized, the average revenue metric (revenue per fund) provides a measure of revenue efficiency.
There are some 900 fund families. The Score Card only rates families with 5 funds or more (about 300). But we now provide metrics on all 900 families, even families of one, in the Score Card tool. Enjoy.

In Senegal:
https://cdn.britannica.com/38/5038-050-F7CFE2C9/Elevation-Africa.jpg
https://finance.yahoo.com/news/nyc-bound-boeing-767-makes-224137827.html

@WABAC, that looks like stale info for USFR.
Website shows 30-day SEC yield 4.75%, 10/18/24.
https://www.wisdomtree.com/investments/etfs/fixed-income/usfr
Treasury shows FRN Index at 4.567%, 10/18/24. This is the variable rate for FRNs.
USFR has ER of 15 bps.

Thanks @yogibearbull. I pulled that number from Yahoo because M* seems to be stuck on Thursday asset prices for OEF's, so I wasn't sure what else was wrong there. Looks like %5.38 is the TTM yield. M* shows 4.75% for the SEC rate, if M* can be believed.
Of main importance to me is that total return for the week and four week periods shows USFR ahead of MM's available to me. I had been rocking along with XONE, but bailed recently, as I describe elsewhere. If conditions change, it's easy enough to change with them.

@WABAC, that looks like stale info for USFR.
Website shows 30-day SEC yield 4.75%, 10/18/24.
https://www.wisdomtree.com/investments/etfs/fixed-income/usfr
Treasury shows FRN Index at 4.567%, 10/18/24. This is the variable rate for FRNs.
USFR has ER of 15 bps.

The yield on USFR (floating rate treasury) is at 5.38. So it is still running ahead of MM's available to me.