On the Pabrai Wagon Fund:
1. This is the MFO link to the article: https://www.mutualfundobserver.com/2024/10/the-pabrai-wagon-fund-overview-and-interview-with-mohnish-pabrai/
2. A Podcast made by NotebookLM based on this article:
NotebookLM is a Google Tool. I submitted the web link of my article and the audio file of the zoom interview with Pabrai. This is the link to the audio podcast. It's 14 minutes long. I don't endorse this podcast. I am showing this to reflect the growth in AI but also to offer a different alternative to MFO readers. Maybe we can have a group of MFO listeners.
Audio Podcast
https://notebooklm.google.com/notebook/04aec59c-cdb4-4833-b465-4871dd440d43/audio

For the past two months, I have been following two "Market Neutral" funds, QQMNX and VMNFX, which held up very well and provided some protection during recent market downturns. New managers have been at the helm of both funds since 2021.
As MikeM said: "I have to admit, QQMNX is a tempting alternative in this alternative field for a less bumpy ride and, so far, excellent returns."
..............QQMNX....VMNFX
YTD.........15.6%.......8.9%
3 YRS.......14.4........14.8
5 YRS.......10.3..........8.2
2022..........9.5.........13.5
Std. Dev....8.6%.......7.3%
As a retired investor who doesn't need a lot more money, preserving capital is more important to me than seeking sizeable returns on capital. While both funds have excellent risk/reward profiles, I have decided to add QQMNX to my portfolio at this time.

The 10 year return for VMNFX is 3.63%. That's my worry with QQMNFX. Is the risk/reward that much better than a solid bond fund particularly if rates fall as "expected"?

I didn't invest in VMNFX, but decided to pick QQMNFX instead. It's 10-year return is 7.1%, and its 15-year return is 8.7%. Not too shabby.
If you can name a "solid bond fund" with a similar risk reward profile, I will be happy to check it out.

Over the years, I have chosen varying ways of taking my RMDs, at differing ways. When I was heavily using a Bond OEF strategy, I chose to take my RMDs on a monthly basis, from the monthly and predictable PIMIX monthly dividends. A few years ago, PIMIX started having some problems in their dividend distribution predictability, so I switched to other dividend paying bond oefs, such as SEMMX, and essentially took RMDs, later in the calendar year from "accumulated" dividends that I had reinvested. Unfortunately, I abandoned these risky nontraditional bond oefs, when they started showing major drops in market corrections. For the past several years, I have been a CD investor in a rising interest rate environment, and I would base my RMD harvesting on specific CDs maturation date during the year, preferably late in the calendar year. Now, I am faced with a falling interest rate environment, and faced with some tough choices on how to reinvest maturing CDs. For now, I am just placing maturing CDs into higher paying money market funds, paying close to 5%--I will likely harvest RMDs from money market funds very late in the calendar year from accumulated interest earnings. I will have to re-examine my options starting in 2025, based on what I choose to invest in going forward. So my short answer to harvesting RMDs, is that I choose to be very flexible, change as I need to, in conjunction with my changing investing choices.

For the past two months, I have been following two "Market Neutral" funds, QQMNX and VMNFX, which held up very well and provided some protection during recent market downturns. New managers have been at the helm of both funds since 2021.
As MikeM said: "I have to admit, QQMNX is a tempting alternative in this alternative field for a less bumpy ride and, so far, excellent returns."
..............QQMNX....VMNFX
YTD.........15.6%.......8.9%
3 YRS.......14.4........14.8
5 YRS.......10.3..........8.2
2022..........9.5.........13.5
Std. Dev....8.6%.......7.3%
As a retired investor who doesn't need a lot more money, preserving capital is more important to me than seeking sizeable returns on capital. While both funds have excellent risk/reward profiles, I have decided to add QQMNX to my portfolio at this time.

The 10 year return for VMNFX is 3.63%. That's my worry with QQMNFX. Is the risk/reward that much better than a solid bond fund particularly if rates fall as "expected"?

AAII Sentiment Survey, 10/2/24
BULLISH remained the top sentiment (45.5%, high) & bearish remained the bottom sentiment (27.3% tie, below average); neutral remained the middle sentiment (27.3% tie, below average); Bull-Bear Spread was +18.2% (above average). Investor concerns: Elections, budget, inflation, economy, the Fed, dollar, Russia-Ukraine (136+ weeks), Israel-Hamas (51+ weeks), geopolitical. For the Survey week (Th-Wed), stocks mixed (growth down, cyclicals up), bonds up, oil up, gold down, dollar up. NYSE %Above 50-dMA 69.54% (positive). Port workers' strike will cause supply disruptions. Situation in Middle East has worsened, but oil hasn't reacted much. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/post/1681/thread

Thanks you both for your replies. Did the alternative allocation come from (reducing) your historic equity or historic fixed income allocation percentage?

I don't think I ever had a "historic" equity or fixed income portfolio allocation. It was always a function of my age and the current economic/market environment.
Thus, in the recent 5%+ interest rate environment, I was almost exclusively invested in CDs and Treasury bonds. As these instruments mature, I am now moving into bond and allocation funds, like ICMUX, RCTIX, BINC, PRCFX, etc.
I used to have JHQAX in my portfolio but sold it in 2022. I guess you could say that QQMNX has had a better risk/reward profile over the past 3 years and has replaced JHQAX.

In a nod to all those still parked in short term and / or floating rate stuff,
Stan Druckenmiller at the Grant’s conference yesterday -
“Bipartisan fiscal recklessness is on the horizon.”
He’s short bonds equivalent to 15-20% of his portfolio.
“George [Soros, Stan's ex-boss / mentor] would be embarrassed of me” for not making it a bigger bet.
Obviously, I do not know Stan's time horizon for this bet and may differ from your criteria. So, please do not take the above as my commentary against anyone who is making a different bet. I am clueless about the bond market.

Saw the article. Color me clueless, but I hear they're supposed to provide safety; so I'm staying mostly short, not shorting, and not floating. :)

The initial investment minimum is supposed to be$5K through transfer agent. I had a problem with them when I filed an application for the Low Duration High Yield Fund. They told me I needed $50K until I told them about the SEC filing where the initial minimum was lowered to $5K..
Schwab wants $2,500 initial minimum for a Nordic account plus trade fee.

Thanks for the heads up on this and sorry for the confusion/inconvenience. I spoke w/ U.S. Bank today and all is fixed. Correct minimum through the transfer agent, as well as on the platforms, is $5k.

Thanks you both for your replies. Did the alternative allocation come from (reducing) your historic equity allocation or from your historic fixed income allocation?
For disclosure, since I am asked you about your info-
I started PHEFX and HELO at 1% which were entered by reducing PRWCX. I am comfortable with both, but I have to figure out how to increase them (from equity or fixed income).
I had previously experimented with BLNDX and closed that out at zero net gain / loss, except for the time value of money and opportunity cost.
QQMNX chart looks good and from what I can see it is a pure long-short fund (correct me if I am wrong). I like that it is not trying to shoots the lights out and its chart looks less correlated to SPY than BLNDX or QLEIX (previous alt funds discussed here). I am inclined to take money out of fixed income to buy QQMNX but have not decided yet.
@fred495, Do you no longer own Hedge equity fund(s)?

In Schwab the min is $2500 + $49.95. Most times I don't pay this.
Even if I pay for it, it's meaningless compared to the amounts I invest.
Most investors do too much analysis. If I know the manager and the uptrend is good and smooth I will buy, and will switch when it is not or I find a better fund. I am far from a weekly trader. I have owned 2 funds for months now.
Of course, on the first sign of volatility that looks subnormal I will sell.
I'm going into hibernation about what is my next move. I like to own small AUM funds, especially when they are new.
Today we hike at Laurel Falls Trail. Wow, no wonder it ranks 4.7 out of 5. Amazing beautiful trail with a river, hills, a fall, and rocks.
Several trees fell and we had to go above/under them. We love to hike in TN which is very similar to North GA

@fred495 and @MikeM,
If you are OK disclosing, what percentage of your portfolio makes up alternative funds and which one of the alternative funds do you currently own.

I have one alternative fund, QQMNX, which makes up 10% of my portfolio.

In a nod to all those still parked in short term and / or floating rate stuff,
Stan Druckenmiller at the Grant’s conference yesterday -
“Bipartisan fiscal recklessness is on the horizon.”
He’s short bonds equivalent to 15-20% of his portfolio.
“George [Soros, Stan's ex-boss / mentor] would be embarrassed of me” for not making it a bigger bet.
Obviously, I do not know Stan's time horizon for this bet and may differ from your criteria. So, please do not take the above as my commentary against anyone who is making a different bet. I am clueless about the bond market.

what percentage of your portfolio makes up alternative funds

Hi @BaluBalu. About 20% total. Hedge/options funds make up 15% of portfolio. 5% now in a market neutral fund (traded out of BLNDX to buy).
Options trading funds
JHQAX 12%
PHEFX 3%
Market neutral fund
QQMNX 5%

BHB still falling today. Bought a few more. 5.63% of total portfolio today.

It is concerning that the IRS chart discussing the differences between RMD for IRAs and Defined contribution plans still uses 72 as the age for RMDs ( even though it says it was updated 8/2024)
" April 1 of the year following the later of the year you turn 72 (70 ½ if you reach 70 ½ before January 1, 2020) or the year you retire (if allowed by your plan). If you are a 5% owner, you must start RMDs by April 1 of the year following the year you turn 72 (70 ½ if you reach 70 ½ before January 1, 2020)."
https://www.irs.gov/retirement-plans/rmd-comparison-chart-iras-vs-defined-contribution-plans
The "FAQS" page has the correct information
"(73 if you reach age 72 after Dec. 31, 2022). "

The initial investment minimum is supposed to be $5K through transfer agent. I had a problem with them when I filed an application for the Low Duration High Yield Fund. They told me I needed $50K until I told them about the SEC filing where the initial minimum was lowered to $5K..
Schwab wants $2,500 initial minimum for a Nordic account plus trade fee.

Update:
T Rowe Price's proxy info for The New America High Income Fund, Inc. reorganization:
https://www.sec.gov/Archives/edgar/data/754915/000110465924105255/tm2421611d5_497.htm

@fred495 and @MikeM,
If you are OK disclosing, what percentage of your portfolio makes up alternative funds and which one of the alternative funds do you currently own.

fyi- if you enroll with the fund's direct agent the minimum is $50k. I spoke to a rep yesterday who spoke to a manager and you cannot bypass the minimum via enrolling in the AIP (which is $100 per month). Unsure if Fidelity or Schwab have minimum purchase requirements. Side note, good to see you around still FD1000. I recall your name from the early 2000s on M* discussions. Still miss Copie. GLTA. GranTorino