@ET91, today environment is challenging for smaller cap funds. TRP is one of the few shops that close their funds in order to maintain their investment process and their expense ratios are reasonable. I invested with their Mid Cap Growth fund for sometime now and having the same manager for over a decade is excellent. The fund finally closed to new investors a number years ago. I understand the closed TRP New Horizon lost its long time manager last year and there is fund outflow today. There are talk that this fund may reopen, but do you want to invest with a new management team? You may want to check if other TRP smaller cap funds are still open.

Thank you Sven for your response. I used to own T. Rowe Price small-cap value but bailed due to assets under management. However, assets under management ($9.6 bil as of August 11 2019) do/did not seem to affect performance (4 stars and rated bronze at Morningstar). Your comments about Royce funds are spot on.

I just noticed that the expense ratio for PIMCO income A is 1.45%. I realize that they are trying to slow down inflows (I think that this correct), however, 1.45% is too much. Assets are at $130 billions as of August 11, 2019. On the other hand, expense ratio for PIMCO total return A are 1.05%. Not sure how much outperformance PIMCO income can accomplish in the future with a 1.45% expense ratio in a low yield environment.

Looking at the line up of Royce funds (US equities) they now only have 9 funds. In addition, Morningstar is no longer a fan. Royce premier is rated neutral as of August 11 2019. I still own Royce small-cap value; with $166 mil in assets not sure how long it will be around. The ride and the results have not been great; granted small caps and value investing have not looked good for a while. Things started changing at Royce when Whitney George star dimmed and he left Royce in Nov 2014. I guess he was convinced that inflation was coming and the portfolios he managed reflected that. When inflation never came, he started under-performing and things never improved. Oh how the times have changed. Not sure how many people on the board still own Royce funds but my guess is not many. People at MFO were negative on Royce after it got bought out by Legg Mason and Royce was pumping out funds left and right.

I hear your $1k/month, and raise you $4k..
My fellow Americans, candidate Yang is tossing you scraps! $1k is subsistence living. Vote for me instead -- I will pay each of you $5k/month. No, wait $10k/month!
Ask not what you can do for your country, ask instead how much your country will pay you for being unproductive slackers! In fact, I will offer $10k/month to all Mexican, Honduran and Guatamalan families who can sneak across our border too (and come they will -- who wouldn't come for "free stuff"). Paying immigrants to come here and NOT be productive is truly what Lady Liberty stands for. Give me your huddled masses yearning... for free money.
---
The above is of course, satire.
But what would $1k do? Increase the price of a)lodging (renting or home prices), b)restaurants, c)labor
---
Yang (and the CB's) seem to think lack of inflation is problem. Its not. Stable prices are a good thing. Having the purchasing value of one's accumulated saving NOT be debased is a good thing.
Of course, I encourage philanthropy. If Mr. Yang and other "freedom dividend" advocates believes giving money to strangers for doing nothing is a good idea, by all means, let them give THEIR money away.

Take a look at this chart. You can switch between growth and price. I will miss this when it disappears from M*....
https://quotes.morningstar.com/chart/fund/chart.action?t=tmsrx&dataParams=%7B%22zoomKey%22%3A11%2C%22version%22%3A%22US%22%2C%22showNav%22%3Atrue%2C%22defaultShowName%22%3A%22name%22%2C%22mainSettingId%22%3A%22main%22%2C%22navSettingId%22%3A%22nav%22%2C%22benchmarkSettingId%22%3A%22benchmark%22%2C%22sliderBgSettingId%22%3A%22sliderBg%22%2C%22volumeSettingId%22%3A%22volume%22%2C%22defaultBenchmark%22%3Afalse%2C%22id%22%3A%22F00000Z2SL%7CFOUSA00EKJ%22%2C%22type%22%3A%22FO%7CFO%22%2C%22region%22%3A%22USA%22%2C%22name%22%3A%22XNAS%3ATMSRX%7CXNAS%3ARPSIX%22%2C%22baseCurrency%22%3A%22USD%22%2C%22defaultBenchmarks%22%3A%5B%22%22%2C%22%22%5D%2C%22chartType%22%3A%22growth%22%2C%22startDay%22%3A%2207%2F01%2F2018%22%2C%22endDay%22%3A%2212%2F31%2F2018%22%2C%22chartWidth%22%3A955%2C%22SMA%22%3A%5B%5D%7D

@MJG
You penned: "Daily or weekly reviews of a portfolio’s value is a Loser’s Game."
My oh my; quite the rigid statement suggesting an inability of someone not being capable of a combination of emotional, intellectual or intuitive decision making regarding their portfolio.
Simply observing weekly portfolio/other market data does not impel or compel someone to take any actions; but can be part of a meaningful learning and study habit. Malcolm Gladwell would likely agree, yes?
As to those who would do harm to their portfolio from weekly observation of same or market data; I suggest these same folks are not yet fully developed to understand their nature. This further suggests these same folks would have some difficulties with other aspects of their live's and decision making. Of course, these folks exist; and may be observed by simply driving on the roads among them and observing their driving habits.
Living in Michigan, where I have experienced the weather extremes of a 120 degree heat index to a -45 degree wind chill factor; if I didn't pay attention to at least the weekly weather forecast, I would be ill prepared to have any sort of plan for anything I may want or be able to do.
I have reviewed the daily and forward weather forecast and discovered I am able to properly position my "work portfolio".
Lastly, we reviewed our portfolio and other market data on Saturday, as is the norm; and I am able to report that no harm has taken place within our investment portfolio.
Regards,
Catch

Hi Hank,
I’ve never been fast, but I am persistent. Why not make the comparison by doing it in several easy steps, one for each fund? Make several visits to Fidelity:
https://fundresearch.fidelity.com/mutual-funds/summary/77958R100
Plenty of info is available with a little effort. Good searching!
Best Wishes

My humble proposal –
Each citizen age 18 or over receives a $1,000 credit per month to be applied to health insurance of choice, whether private or public. Any minors must be covered before moving to the next option. (Yeah, I would favor DNA testing to identify deadbeat fathers.)
If the citizen and/or spouse has employer health coverage and the full amount is not needed for primary health coverage, the balance could be applied to dental coverage, vision coverage, or an HSA.
Or, it could be applied to an iron-clad retirement program, public or private. By “iron-clad,” I mean no borrowing, or sketchy exemptions like first home purchase. Retirement, and retirement only. Buy Social Security credits, if you want.

I’m interested in comparing the performance of 2 funds during the second half of 2018 - RPSIX and TMSRX. No idea how to do that. (TMSRX was new in early 2018).

FYI: Americans are no more likely to collect the “Freedom Dividend” than they are to win the next Mega Millions lottery jackpot, but just as playing the lottery can fuel dreams and shape financial priorities, so can the unusual political promise of free money help consumers and savers re-evaluate their finances.
The Freedom Dividend is the unconventional plan being floated by Andrew Yang, Democratic candidate for president; it would give all U.S. citizens over the age of 18 guaranteed payments of $1,000 per month.
Regards,
Ted
https://www.seattletimes.com/business/how-could-1000-a-month-change-your-life/

FYI: Municipal bonds are the perfect play for this trade-war obsessed market—they’re far more stable than your typical stock and they pay bigger dividends, too.
Regards,
Ted
https://www.forbes.com/sites/michaelfoster/2019/08/10/3-no-drama-muni-bond-cefs-to-buy-now-and-1-to-avoid/?ss=etfs-mutualfunds#18a0ec3a28ec
M* Snapshot BFZ:
https://www.morningstar.com/cefs/xnys/bfz/quote
M* Snapshot NQP:
https://www.morningstar.com/cefs/xnys/nqp/quote
M* Snapshot MYJ:
https://www.morningstar.com/cefs/xnys/myj/quote
M* Snapshot PCQ:
https://www.morningstar.com/cefs/xnys/pcq/quote

Once again we see context insensitive data masquerading as something applicable to now.

Specifically, based on Trefis analysis of many decades of data:
There is overall about 8% chance that S&P 500 will drop by -5% or more, over 20 trading days (roughly a month)
There is ONLY about 1% chance that S&P 500 will rise by 10% or more, over 20 trading days (roughly a month)

Does one really need machine learning to count the number of rolling 20 trading day periods where the market goes up 10% or drops by -5% (drops by a negative amount)? But I digress.
This generic observation applies just as much to June 2009 as to July 2019. But the contexts are very different. This result does not apply specifically to now, despite the text of the article saying that "over the next month, the S&P is roughly 8x more likely" to lose 10% than rise 5%."
Look carefully at the numbers - of course the market is much more likely to move 5% (in either direction even given an upward bias) over a month than it is likely it is to move 10%. What is this headline telling you that you don't already know?

Hi Hank,
Unlike you, I do know a few folks who are uncomfortable if they do not make very frequent trades. Sometimes even a few trades every day. Unlike them, I do follow a strategy vey similar to yours. I make very few trades each year.
What motivates each market participant varies greatly. Each of us have different goals, knowledge, and disciplines. Here is a Link to a paper that attempts a very general explanation:
http://www.newtraderu.com/2017/05/31/battle-temptation-overtrade/
I am fortunate enough to successfully overcome the temptation to trade often. I suspect that temptation would be a greater challenge to resist if I viewed market shows on a daily basis. I do not do so. I find these presentations rather boring.
Thanks for your insightful and helpful submittal.
Best Wishes

@JohnN: You are 0-2, one more strike and your out. I linked this item twice, as text and the other a video. This could all be avoid if you took a little time to see what has already been linked. The MFO Search Box can help !
Regards,
Ted
Text:
https://www.mutualfundobserver.com/discuss/discussion/51885/meet-the-11-ordinary-twenty-somethings-with-250-billion-riding-on-their-lives#latest
Video:
https://www.mutualfundobserver.com/discuss/discussion/51916/the-spy-kids-with-250-billion-riding-on-their-lives-legal-structure-quirk-video-presentation#latest

FYI: Bond investors tend to fixate on worst-case scenarios, and that has been the case in the past two weeks. Bonds rallied and yields tumbled around the world, with holders of 30-year U.S. Treasury bonds earning a supersize (for bonds) 8.4% on their money over 10 trading sessions.
Run-of-the-mill worries about corporate profits or tighter monetary policy can’t be blamed for the latest gyrations, which sent 10-year Treasury yields as low as 1.6% Wednesday, especially as three Asian central banks announced surprise rate cuts this past week. Something else is gnawing at the market—fears of a looming recession, perhaps, or an escalation of the trade spat between the U.S. and China, or even a Chinese military response to the weeks-long protests in Hong Kong that could spark a regional conflict and draw in other countries. Global markets are “expecting Armageddon,” as one trader wrote in a note to clients on Wednesday.
Regards,
Ted
https://www.barrons.com/articles/the-bond-market-smells-big-trouble-where-to-hide-51565399138?mod=past_editions
M* Snapshot FGMNX:
https://www.morningstar.com/funds/xnas/fgmnx/quote
M* Snapshot VFIIX:
https://www.morningstar.com/funds/xnas/vfiix/quote

FYI: Yields on cash and money-market funds have fallen lately as the Federal Reserve cut interest rates. But Fidelity appears to be bucking the trend, at least temporarily.
Fidelity caused a stir on Wednesday with an announcement that the firm “has challenged conventional industry practices” by automatically defaulting brokerage customers into a government money-market fund yielding 1.9%.
Fidelity didn’t actually reveal anything new with the announcement (triggering some angry responses from advisors on Twitter). The firm has defaulted nonretirement accounts into Fidelity Government Money-Market fund (ticker: SPAXX) since the third quarter of 2015. New retail retirement accounts made the switch in May, 2019. Advisors who custody with Fidelity are still defaulted into F-Cash, rather than the money-market fund.
Regards,
Ted
https://www.barrons.com/articles/fidelity-sweep-accounts-cash-rates-federal-reserve-schwab-merrill-lynch-vanguard-etrade-51565291732?refsec=funds

WisdomTree Fund Family
Thru July, 2/3rds of WisdomTree funds have beaten their peers since launch by 1% annualized on avg. WidsomTree earns an “Upper” rating on MFO’s Fund Family Scorecard, beating numerous other families ...
https://www.member.mfopremium.com/2019/08/09/wisdomtree-fund-family/

Machine Learning Engine Says S&P 500 Is 8 Times More Likely To Drop 5% In A Month Than To Rise 10%
https://www.forbes.com/sites/greatspeculations/2019/08/09/60-years-of-raw-data-say-sp-500-is-8-times-more-likely-to-drop-5-in-a-month-than-to-rise-10/#7410a5f27958
Did you know if you’re investing in S&P 500, over the next month it’s roughly 8 times more likely you’ll lose 5% or more, than rack up gains greater than 10%?
Specifically, based on Trefis analysis of many decades of data:
... Anyone think going short for next 30days?

https://www.journalnow.com/business/the-hunt-for-yield/article_5fc7b62b-fae5-5a40-8de4-adcd2d11e5eb.html
The hunt for yield
I’ve got an investment idea for you. How about you loan me money and 10 years from now I will give your money back, less than one-half percent per year. But, no worries, it’s guaranteed. You will lose exactly one-half percent per year: no more, no less.
Anyone has DSL in their portfolio
Thx