@Hi Willmat72,
Here is a brief description of my sleeve system which I organized to help better manage the investments that were held in five accounts. The accounts consist of a taxable account, a self directed ira account, a 401k account, a profit sharing account and a health savings account plus two bank accounts. With this I came up with four investment areas. They are a cash area which consist of two sleeves … an investment cash sleeve and a demand cash sleeve. The next area is the income area which consists of two sleeves. … a fixed income sleeve and a hybrid income sleeve. Then there is the growth & income area which has more risk associated with it than the income area and it consist of four sleeves … a global equity sleeve, a global hybrid sleeve, a domestic equity sleeve and a domestic hybrid sleeve. An finally there is the growth area, where the most risk in the portfolio is found and it consist of four sleeves … a global sleeve, a large/mid cap sleeve, a small/mid cap sleeve and a specialty sleeve. Each sleeve consists of three to six funds (in most cases) with the size and the weight of each sleeve can easily be adjusted, from time-to-time, by adjusting the number of funds and the amounts held. By using the sleeve system one can get a better picture of their overall investment picture and weightings by sleeve and area. In addition, I have found it beneficial to xray each fund, each sleeve, each investment area, and the portfolio as a whole monthly. Again, weightings can be adjusted form time-to-time as to how I might be reading the markets and wish to weight accordingly. All funds pay their distributions to the cash area of the portfolio with the exception being those in my 401k, profit sharing, and health savings accounts where reinvestment occurs. With the other accounts paying to the cash area builds the cash area of the portfolio to meet the portfolio’s monthly cash distribution needs with the residual being left for new investment opportunity. In addition, most all buy/sell trades settle from, or settle to, the cash area.
Here is how I have my asset allocation currently broken out in percent ranges, by area. My neutral targets are cash 15%, income 30%, growth & income 35%, and growth 20%. I do an Instant Xray analysis of the portfolio monthly and make asset weighting adjustments as I feel warranted based upon my assesment of the market, my risk tolerance, cash needs, etc. Currently, I am heavy in the cash area, light in the income area and a little light in the equity area.
Cash Area (Weighting Range 5% to 25%)
Demand Cash Sleeve… (Cash Distribution Accrual & Future Investment Accrual)
Investment Cash Sleeve … (Savings & Time Deposits)
Income Area (Weighting Range 20% to 40%)
Fixed Income Sleeve: EVBAX, LALDX, THIFX, LBNDX, NEFZX & TSIAX
Hybrid Income Sleeve: AZNAX, CAPAX, FKINX, ISFAX, PASAX & PGBAX
Growth & Income Area (Weighting Range 25% to 45%)
Global Equity Sleeve: CWGIX, DEQAX, EADIX & PGUAX
Global Hybrid Sleeve: CAIBX, IGPAX & TIBAX
Domestic Equity Sleeve: ANCFX, CFLGX, FDSAX, INUTX, NBHAX, SPQAX & SVAAX
Domestic Hybrid Sleeve: ABALX, AMECX, DDIAX, FRINX, HWIAX & LABFX
Growth Area (Weighting Range 10% to 30%)
Global Sleeve: ANWPX, PGROX, THOAX, DEMAX, NEWFX & THDAX
Large/Mid Cap Sleeve: AGTHX, BWLAX, HWAAX, IACLX, SPECX & VADAX
Small/Mid Cap Sleeve: AJVAX, IIVAX, PCVAX & PMDAX
Specialty Sleeve: CCMAX, JCRAX, LPEFX, SGGDX & TOLLX
Total number of mutual fund investment positions equal fifty three.
The "other" that I referenced in my portfolio's asset allocation, and is the subject of your inquiry, comes from Morningstar's Instant Xray analysis of the above positions for assets held that does not fit the categories of cash, bonds, or stocks.
I hope this is helpful.
Old_Skeet

Perhaps the market cycle has reached the point that it will be easier for active managers to justify their fees. The author writes:
"While seeing accounts in San Francisco recently, I read a story about Boston-based Fidelity having a good year in 2014 from an earnings and revenue standpoint, but that they were losing assets to passive investments, aka index funds, ETFs, etc. Here the observation is that this is what you see at inflection points where individual investors are doing the exact wrong thing at the wrong time."
advisorperspectives.com/commentaries/20150325-raymond-james-active-vs-passive-redux

Now that the market is pulling back is a good time to gauge if your chosen cash substitute is performing to your expectations. Remember real cash will function much like a shock absorber for a portfolio in market declines as real cash offers a stable value where valuations for most other assets held follow their respectve market valuations.
Old_Skeet's overall portfolio allocation is now about 20% cash, 20% income, 50% equity, and 10% other.

If you don't mind me asking, what is lurking in your "other" portion?

This chart is CAPE vs DSENX beginning with inception.
Click onto the the green/red icon at the far left end of the 350 day slider for a bar graph representation of the returns.

FYI: We tend to be willing to ignore historical facts when a more convenient promise comes along. In this case, that promise is the rise of the unconstrained bond fund.
Regards,
Ted
http://fortune.com/2015/03/25/unconstrained-bond-funds-risk/

Morningstar:
" intermediate-term bond categories are funds intended to be safer havens--these generally take on less credit risk or less interest-rate risk than peers.
Last week, we published a checklist for taxable-bond-fund investors. In it, we suggested that investors select intermediate-term bond funds for the core of their fixed-income allocations. By dedicating a sizable chunk of your fixed-income allocation in such funds, your portfolio will be better positioned to withstand bond-market shocks from interest-rate increases or credit-quality scares. Plus, you'll get the diversification benefits that bonds can offer an equity-heavy portfolio(exactly...tb)
Securities mentioned in this article"
Ticker
Price($)
Change(%) Morningstar Rating Morningstar Analyst Report ...Gold Rated
DODIX 13.94 -0.14
FGMNX 11.69 -0.09
FGOVX 10.62 -0.19
NERYX 13.15 -0.38
MWTIX 11.02 -0.18
LSIIX 11.77 -0.34
VFIJX 10.86 -0.09
VBTLX 10.98 -0.27
FTBFX 10.81 -0.18

Now that the market is pulling back is a good time to gauge if your chosen cash substitute is performing to your expectations. Remember real cash will function much like a shock absorber for a portfolio in market declines as real cash offers a stable value where valuations for most other assets held follow their respectve market valuations.
Old_Skeet's overall portfolio allocation is now about 20% cash, 20% income, 50% equity, and 10% other.

@hank That's a pleasant way of looking at the situation. And it was pleasurable to note I have done pretty much the same thing, for the same reasons--- I just hadn't fully realized why until I read your comment! [I hope you are aware that, with such a temperament, you're gonna need an additional 5-10 yrs of living expenses in your retirement]

Numbers thru Feb 2015...

@catch22. Ha! I certainly didn't intend that, unless they have finely-sculpted legs, in which case I need not apologize for revealing something attractive on a day like today. Yuk!
But you are correct about the -5 finish--- the 12% figure is the decline from the biotech sector high made 3d ago, so perhaps slightly smaller negative number on the slope. :)
After Friday's close, this might be a good weekend to check out our favorite HC funds to see how they fared this week viz-a-vis how much biotech they carry.

DoubleLine fact sheet for DSENX reports as of 2/28 that the average market cap of its equity holdings is 50.6B. I suppose you could call it Large Cap.

Hi @heezsafe
Don't fully scare the investing pants off of everyone in the bio/healthcare sector........ :)
Monitoring through the day, the bio sectors kept moving down, and + or - a tenth or so; most finished about -5%; not -12%.
They'll come back, IMO.
Take care,
Catch

Gilead starting to look like the Amgen of 10-15 yrs ago. Maybe better. Nice. Individual companies, for the foreseeable future, are definitely the investment to make.
As for the rest, well, biotech sector was down -12% today. Now that the Fed has stopped their QE magic tricks, all levitating bodies with phoney $1B+ cap but P/E= N/A will crash to the stage, sooner or later. There will be tears.
3/25 POAGX %change= -2.78% !

LOL, nice chart!
A retired friend of mine, who lives many states away and has something over $1M in his portfolio, told me about 6 months ago that he was buying 3D printer stocks. He didn't say how much, but if someone wanted to gamble with 5% - 10%, have at it.
Eh, good luck, but I'll stick with my stodgy old auto-pilot mutual funds, keeping me properly diversified and allocated. Jumping on bandwagons has never been my style.

The 3D Printing and Technology Mutual Fund (TDPIX) doesn't last the year. 3M in AUM and....this chart:
http://finance.yahoo.com/echarts?s=TDPIX+Interactive#{"range":"2y","scale":"linear","comparisons":{"^GSPC":{"color":"#cc0000","weight":1}}}

@Scott - almost took a toehold at the closing but since it's almost the end of the month (or quarter) and fund managers are playing games with positions and holdings I'm going to let that shake itself off first. GILD has definitely been on the radar though. Do you think they are done splitting shares as has been their MO up to this point?

I don't see a split any time in the foreseeable future. There is a $15+B buyback in place, as well as a 43c quarterly div starting soon.
"Gilead Sciences, Inc. (Nasdaq: GILD) announced today that the company’s Board of Directors has authorized a dividend program under which the company intends to pay quarterly dividends of $0.43 per share, beginning in the second quarter of 2015, subject to quarterly declarations by the Board of Directors.
The Board of Directors also approved the repurchase of up to an additional $15.0 billion of the company’s common stock. This new program is in addition to the currently authorized three-year $5.0 billion repurchase program (authorized in May 2014). As of December 31, 2014, approximately $3 billion remained in the May 2014 program. The new program will expire 5 years after the completion of the May 2014 program. Purchases may be made in the open market or in privately negotiated transactions from time to time, as determined by Gilead’s management and in accordance with the requirements of the Securities and Exchange Commission"
http://www.gilead.com/news/press-releases/2015/2/gilead-sciences-announces-43-cents-quarterly-dividend-program-and-15-billion-share-buyback-program

It was XLE ... Energy ... +1.3%.

At market close today I added to DSENX and now have 35-40% of our nut in it, so I wonder if there is any accuracy whatsoever to M*'s characterization of it as like a 50-50 balanced fund.

Great stuff from everyone.
Cash seems to have widely varying definitions and widely varying purposes among investors. And it's natural to climb the ladder a little in search of something better than 0%. Even 2 or 3% on RPHYX looks good by comparison. No objection to that. But, it's not "cash" in the most basic traditional sense of the word.
I'm not sure one's definition of cash (or "enhanced cash" as someone put it) really matters a whole lot. I guess if you're running your household budget under really tight constraints, or meeting a weekly business payroll, or running a tax-funded government entity, than precise dollar amounts are critical to the operation and you best keep the necessary money in insured deposits or TBills.
For most of us however, fluxuations of 2, 3 or even 5% on our short term reserves (cash and cash substitutes) really isn't all that worrisome. We can take a bit more risk and accept those fluxuations. MSF makes a good point about some of the ultra-shorts that took a big hit during the '08 meltdown. Yes, they didn't appear all that risky before the crisis imploded. I have no answer to that one. A valid point.
I earn 0% on my Prime Reserve fund at Price and 0% on a couple checking accounts. But wait a second ... I'm actually receiving compensation through a wide range of services. These include free check-writing and electronic fund transfers. Free 24-hour online access from any device. Free phone numbers and live agents able to respond to account related questions or provide guidance. Also, live tellers at their branches, convenient credit cards and debit cards linked to these accounts and many other free or discounted services. That's a lot of "free" stuff available to me to in return for those cash deposits.
In the case of Price, keeping cash with them allows free and immediate access to any of their 100+ quality funds at literally the touch of a keypad. And exchanges between these great funds and my Prime Reserve account are conveniently exempted from their excessive trading restrictions. If I need some of the cash, they quickly transfer it to to my bank of record. Again at no fee. So, besides the higher stability of these low yielding cash accounts, I'm actually receiving quite a bit in return.
Advice to the original poster. Don't put all your eggs in one basket. As compelling as RPHYX may appear, spread your short term holdings (assuming they are significant) around a little.

FYI:
Regards,
Ted
WSJ Slant:
http://www.wsj.com/articles/u-s-stock-futures-edge-lower-1427285694
Bloomberg Slant:
http://www.bloomberg.com/news/articles/2015-03-25/u-s-index-futures-little-changed-kraft-surges-on-3g-deal-talks
Reuters Slant;
http://www.reuters.com/assets/print?aid=USKBN0ML16720150325
Market Watch Slant:
http://www.marketwatch.com/story/us-stocks-wall-street-keeps-a-nervous-eye-on-the-sleeping-giant-dollar-2015-03-25/print
WSJ Markets At A Glance:
http://markets.wsj.com/us
Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker
Current Futures:
http://finviz.com/futures.ashx