https://www.sec.gov/Archives/edgar/data/1593547/000139834418013655/fp0035871_497.htm
497 1 fp0035871_497.htm
THE ADVISORS’ INNER CIRCLE FUND III (the “Trust”)
NorthPointe Small Cap Value Fund (the “Fund”)
Supplement dated September 18, 2018 to the
Prospectus dated March 1, 2018 (the “Prospectus”) and
the Statement of Additional Information, dated March 1, 2018 (the “SAI”)
This supplement provides new and additional information beyond that contained in the Prospectus and SAI, and should be read in conjunction with the Prospectus and SAI.
The Board of Trustees of the Trust, at the recommendation of NorthPointe Capital, LLC (the “Adviser”), the investment adviser of the Fund, has approved a plan of liquidation providing for the liquidation of the Fund’s assets and the distribution of the net proceeds pro rata to the Fund’s shareholders. In connection therewith, the Fund is closed to new investments. The Fund is expected to cease operations and liquidate on or about October 26, 2018 (the “Liquidation Date”).
Prior to the Liquidation Date, shareholders may redeem (sell) their shares in the manner described in the “How to Sell Your Fund Shares” section of the Prospectus. For those Fund shareholders that do not redeem (sell) their shares prior to the Liquidation Date, the Fund will distribute to each such shareholder, on or promptly after the Liquidation Date, a liquidating cash distribution equal in value to the shareholder’s interest in the net assets of the Fund as of the Liquidation Date.
In anticipation of the liquidation of the Fund, the Adviser may manage the Fund in a manner intended to facilitate the Fund’s orderly liquidation, such as by holding cash or making investments in other highly liquid assets. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with the Fund’s stated investment strategies, which may prevent the Fund from achieving the Fund’s investment objective.
The liquidation distribution amounts will include any accrued income and capital gains, will be treated as a payment in exchange for shares, and generally will be a taxable event for shareholders investing through taxable accounts. You should consult your personal tax advisor concerning your particular tax situation. Shareholders remaining in the Fund on the Liquidation Date will not be charged any transaction fees by the Fund. The net asset value of the Fund on the Liquidation Date, however, will reflect costs of liquidating the Fund.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
NPC-SK-005-0100

FYI: New data released this week from the Internal Revenue Service on Individual Retirement Accounts (IRAs) most notably includes who contributed to IRAs and how much for tax year 2015. Taxpayers contributed nearly $40 billion to IRAs in 2015, indicating that tax-neutral savings accounts will continue to be an important source of capital income. Expanding and simplifying their structure would broadly benefit many Americans.
Regards,
Ted
https://taxfoundation.org/new-irs-data-shows-ira-contributions-made-middle-class-taxpayers/

My coworkers been buying lots of old WW2 german luger guns. any ideas if these will go up in 5-10 yrs
https://www.legacy-collectibles.com/hand-guns/lugers

@Mfo Members: Actually there's is evidence that investing in the four "B" Booze, Bets, Bombs & Butts has paid off over the years. In fact Dan Ahrens former Vice Fund manager has written a book about investing in sin.
Regards,
Ted
https://www.amazon.com/Investing-Vice-Recession-Proof-Portfolio-Booze-ebook/dp/B003E4CYYO/ref=sr_1_fkmr0_1?ie=UTF8&qid=1537279123&sr=8-1-fkmr0&keywords=Dan+S.+Ahrens
M* Snapshot VICEX:
https://www.morningstar.com/funds/xnas/vicex/quote.html

@Catch22 - Point taken.
However, as I noted earlier, storing a few years supply of your favorite single-malt or blend is one investment to consider. I think a case can be made that the product, along with associated tariffs and taxes, will appreciate in value more quickly than cash. Heck, it might even do better than a 10-year treasury yielding 3%. In addition, many noted investors (like Peter Lynch and Warren Buffet) emphasize the importance of investing in something you know. Indeed, Buffet has long invested in his favorite beverage, CocaCola. Why should scotch whisky be accorded any less favorable treatment?
The linked article discusses 5 ways in which investors may profit from Scotch Whiskey. And, despite your preference for wine, I’d venture to guess that at least one of your mutual funds has exposure in some form (debt or equity) to Diageo.
Invest in Cask Schemes
Buy and Hold Rare Whisky
Buy Shares of Diageo
Invest in a Whisky Investment Fund
Treasure Hunt for Individual Bottles
“ Brands like Macallan, Glenlivet, and Highland Park are popular, as are lesser produced Scotches such as Mortlach, St. Magdalene, and Glenfarclas. While there is no guarantee it will continue to appreciate, The Rare Whiskey 101 Icon Index increased about 350% between 2008 and 2016.”
https://unusualinvestments.com/5-ways-invest-scotch-whisky/

And a bit more from The Wall Street Journal, (subscription only):
"WASHINGTON—The Trump administration will impose tariffs on about $200 billion in Chinese goods as part of its campaign to pressure Beijing to change its commercial practices, it said Monday, escalating trade tensions between the world’s two largest economies.
The 10% tax on Chinese imports will take effect on Sept. 24 and will rise to 25% at the end of the year, according to administration officials. The tariffs will affect thousands of goods ranging from luggage to seafood, extending the impact of Mr. Trump’s aggressive tariff policy for the first time to a broad population of American consumers."

And here it is. Excerpts from coverage in The Washington Post:
"President Trump threw his biggest punch yet at China, imposing tariffs on an additional $200 billion worth of Chinese imports and gambling that American consumers are willing to pay more for popular products to wring trade concessions from Beijing.
With Monday’s announcement, roughly half of the $505 billion in goods that Americans buy annually from Chinese firms will face new import levies.
Unlike the $50 billion in Chinese products that Trump hit in the first tariff wave in July — which fell mainly on industrial goods — Monday’s action will affect consumer products such as air conditioners, spark plugs, furniture and lamps.
Starting Sept. 24, American importers will pay an extra 10 percent tariff for the affected items, rising to 25 percent at the end of the year, according to senior administration officials, who briefed reporters on the condition that they not be identified by name."

1) The author of the linked article wrote
" The only thing that will cash a bond fund’s price to increase is declining interest rates. This means in an extended period of rising rates; bond fund investors will see their principal decline without the possibility of a recovery."
I assume that the 5th word "cash" is a typo for "cause". But even when the typo is corrected the sentence does not square with what I've observed over time. When interest rates rise the bond fund will invest in the higher yielding bonds that appear. The investor in the bond fund gets a higher interest rate on these bonds. While there have been years of loss ("negative return") I have never had my principal decline in a bond fund. For one thing all interest and capital gains are being used to automatically buy more shares in the fund. I invest in bond funds as a counter-balance to investments in stock funds. I'd be wary about using a bond fund to generate income. For that I have bought single bonds through a reliable broker.
2) The title of this post was sufficient for me to get an inkling of what the linked article was about. For me, unattributed replication of the first lines of an article is not more helpful than no blurb at all. Ted copies and pastes the first sentences of the linked articles. As often as not these first sentences have been written to establish a basis for understanding the main thrust of the article. They are not a synopsis of what follows.
3) None of the above should be taken to mean that I have not benefited from some of the articles linked by Ted, John, or others. I have. And I appreciate the public service, and the time & effort . It would be even better if when someone posts a link they write a few words of their own about what the article is about and why they find it worthy of attention.

FYI: President Donald Trump said he’ll make an announcement on China trade after U.S. financial markets close Monday.
His administration is planning to announce 10 percent tariffs on as much as $200 billion in Chinese goods as soon as Monday, according to five people familiar with the matter.
Regards,
Ted
https://www.bloomberg.com/news/articles/2018-09-17/trump-says-he-ll-make-announcement-monday-after-market-close?srnd=premium

@hank, what blends?

I’ve thus far identified 3 decent blends at / under $40. These all go well with a splash of water & ice:
#1 JW Black - Always $40 here in Michigan
#2 Dewars 12-Year (Black label) - Usually $35-40. Dropped to $30 briefly this spring
#3 Chivas Regal 12-Year - Usually $35 Ocassionally drops to $30
Always open to suggestions. Bear in mind we “conservative leaning” investors don’t have 60 or 80 bucks to throw at a bottle of spirits as some of you guys do. :)

Came across this summary from McKinsey which may be useful to those interested in this area. Haven't had a chance to fully read the article and associated documents. There are links to some pretty long reports in there.
https://www.mckinsey.com/featured-insights/innovation-and-growth/outperformers-high-growth-emerging-economies-and-the-companies-that-propel-them?cid=soc-app
Report linked in the article
https://www.mckinsey.com/~/media/mckinsey/featured insights/innovation/outperformers high growth emerging economies and the companies that propel them/mgi-outperformers-full-report-sep-2018.ashx
This infographic was also a good summary
https://www.mckinsey.com/~/media/mckinsey/featured insights/innovation/outperformers high growth emerging economies and the companies that propel them/outperformers-snapshot-poster.ashx

https://www.investorsalley.com/avoid-these-3-bond-funds-when-interest-rates-rise/?t=tdhlandjoe36mtmc&utm_source=marketcap&utm_medium=article&utm_campaign=tdh36monthplan
"Avoid These 3 Bond Funds When Interest Rates Rise
Bonds, Interest Rates, Stocks to Avoid
September 17, 2018 6:15 am by Tim Plaehn
Are bond funds a safe haven if the stock market crashes?
With interest rates about to rise, is it a good time to invest in a bond fund?
These are questions investors may be asking themselves as the stock market may be peaking and the Fed keeps jacking up interest rates. If you are fearful of what may happen in the stock market, you may also be considering putting money into one of the popular bond ETFs. Read further to understand that a bond fund comes with its own set of risks, ones that the financial services industry won’t tell you about."

Just bought Dewar's 12-year old. No taste test yet.

@MFO Members: I don't know about the end of 2019, but I am convinced the S&P 500 wiil close above 3,000 in 2018.
Regards,
Ted

I feel it is time to do a rebalance of sorts within my portfolio. Since, the US 10 year is now at three percent, and above, as of today I plan to add a little to one of my fixed income position held within my income sleeve. I will probably do this with every quarter of point increase. In addition, I may add another step to my cd ladder. As far as equities go I am pretty much invested within my asset allocation (both in styles and growth vs value) although I may do some buying around the edges.

Here is a little crystal ball gazing that suggests there may be good reasons to think the party can continue for a while longer....Will the S&P 500 be at 3,350 by the end of 2019?
https://www.reuters.com/article/us-usa-stocks-valuation/high-u-s-stock-valuations-hinge-on-inflation-interest-rates-idUSKCN1LX09O

NFJ selling at a 12% plus discount to NAV.
HTGC to provide some early stage tech & biotech exposure.

More single-malts. ;)

Ditto (But in my price range I prefer some of the better blends.)
Loading up on your favorite brand will probably pay-off better over the next few years (due to price inflation) than many investments folks seem to favor. The gain is tax-free (long as you consume it yourself). I can almost guarantee a good cache of scotch will perform better over the next few years than cash yielding 1-2% will.
I’m studying adding to the miners - especially if p/m prices stay low or continue falling.

@jerry, I like your idea of AAPL at 180, but that is a 20% drop from todays price. It would probably take a pretty good market down-turn, but anything is possible, so that would be a great entry point if you can get it. I actually sold my shares at about 140 a couple years ago, dumb, dumb, dumb...
If we are talking individual stocks, sold my remaining BABA, Alibaba shares last week and put a limit order in for DWDP, DowDupont @ 64.9 with the proceeds. I own EVGBX and I regard that funds management very highly. They talked about their recent purchase of this "value" stock in their latest communication to share holders.
Alibaba has probably been the most lucrative stock I've ever owned, but the continued China tariffs have put it in a steady down trend since June. When all this nonsense ends, I may buy back in.

are you a trader or investor(hold at least a year) MY buy idea is apple at 180