FYI: So what if you lose everything, it's only money ! Go Q's Go !
Regards,
Ted
http://www.ritholtz.com/blog/wp-content/uploads/2015/02/chart1.png

From Article:
"Fifty-six percent of the 3.3 million Home Equity Lines of Credit potentially resetting with higher, fully amortizing monthly payments from 2015 to 2018 are on properties that are seriously underwater, meaning the combined loan to value ratio of all outstanding loans secured by the property is 125 percent or higher, according to the report."
and,
"We are entering a period of higher risk over the next four years when it comes to resetting bubble-era HELOCs - especially given slowing home price appreciation that offers underwater homeowners less hope of recovering their equity in the short term."
Link:
home-equity-loans-face-risk

Not at all certain that this qualifies as a "sleeve" system:
US Equity, 25% / US Bond, 16 % / US Balanced, 10% / World & EM Equity, 28% / Cash Equivalents, 17%

My "sleeve" system has 5 "Pots". Most holdings are in a taxable account. Core holdings include those in the Cash, Ballast, Moderate Volatility, and Stock Pots. The fifth Pot is the Special Situations Pot. Active trading is permitted in that ~10% of the portfolio. But, even there my primary tendency inclines to holding most investments for a year or more. There are 11 categories as the investments in some of the Pots get subdivided. The basic portfolio focus is on total return with low turnover of core holdings. The portfolio gets an annual review of its 35 holdings with changes in core holdings happening during that time period. Enough cash is kept on hand to handle annually predefined quarterly withdrawals without disturbing the core holdings. The final quarterly withdrawal of the year is increased if conditions are favorable. The system can comfortably be ignored for extended periods if traveling or other activities dictate. The organization of the holdings has evolved somewhat during my 10 years of retirement but is fairly stable now. This "Pot" system works well for me.

FYI: Brokerage giant intends to launch four new stock funds by mid-year.
Regards,
Ted
http://www.investmentnews.com/article/20150303/FREE/150309970?template=printart

FYI: The bank’s impressive mutual-fund-group performance figures come with little expl
Regards,
Ted
http://www.bloomberg.com/news/articles/2015-03-05/we-tried-to-re-create-jpmorgan-s-top-mutual-fund-returns-and-just-gave-up
M* JPMorgan Mutual Funds:
http://quicktake.morningstar.com/fundfamily/jpmorgan/0C00001YRR/fund-list.aspx

Vanguard must be thinking that index funds are getting boring. I wonder how Mr. Bogle feels about this new fund.
http://www.thinkadvisor.com/2015/03/01/top-portfolio-products-vanguard-to-launch-alt-fund

I can pretty well tell you that Mr. Bogle is not going to be a fan of this fund.
Nor its planned expense ratio of 1.1%. Not Bogle's type of fund......
"The new fund will have an actively managed approach an use a combination of long and short positions in equities, forward foreign currency contracts, commodity and Treasury futures, swaps, and other investments."

Ted said: "Never confuse risk and volatility, they are not the same."
Yeah. I hear that a lot. Maybe, But, I'll submit that if you're 95 years old, they are very much the same.

Someone said 45y, so that was what I looked at. 'Missing something' was being polite. Would not compare 45y with 89y.

>> 45 years it has returned essentially what the stock market has returned,
I must be missing something. Since origin, summer 1970, it has more than doubled SP500.

According to records, the S&P has returned about 10.5% since 1926, with returns reinvested; Wellesley 10.06% since 1970. That was what I was comparing. What the S&P has done since 1970, I don't know. I didn't even consider that. :(

>> 45 years it has returned essentially what the stock market has returned,
I must be missing something. Since origin, summer 1970, it has more than doubled SP500.
Wellington and DODBX have done notably better, but Windsor, FCNTX, and SEQUX have all done multiples better, Sequoia 6x or so. If I am reading the graphs right.
Some manager changes in there, of course.

@Leroy: Good choice, but a better bet Vanguard Fund is( VWELX 8.33% for 86 years) which has outperformed VWINX 1-15 years.
Regards,
Ted

After spending many evenings slicing, dicing, and contemplating a bunch of "set and forget" funds, in 2013 I bought Wellesley. It is 20% of my portfolio and I'm a happy camper.
Its long-term record, considering volatility, is hard to beat: Since inception in 1970 it has returned 10.06% annualized; its worst yearly return was in 2008 at -9.8%.
So for 45 years it has returned essentially what the stock market has returned, but with much less volatility (beta .53).

FYI:
Regards,
Ted
WSJ Slant:
http://www.wsj.com/articles/u-s-stock-futures-decline-1425474886
Bloomberg Slant;
http://www.bloomberg.com/news/articles/2015-03-04/u-s-index-futures-drop-indicating-equities-to-fall-second-day
Reuters Slant:
http://www.reuters.com/assets/print?aid=USKBN0M01B220150304
MarketWatch Slant;
http://www.marketwatch.com/story/us-stocks-futures-lower-as-investors-bide-their-time-for-jobs-data-2015-03-04?dist=countdown
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

wow. i don't recognize but one or two of the funds on that list. no VWINX?

Doing a little charting I compared VWINX and my screen list and as you point out it provided a different story so I apologize for my exclusion of VWINX. VWINX out performed all but three of the funds on my list over the most up to date 5 year period.
Here's the three funds that out performed VWINX (DIFIX, PGDIX, and COTZX) over the most recent 5 year period:

What VWINX did in 2007-2009 extremely well was protect to the downside. Here is VWINX charted against two of the three funds that existed 10 year ago:

FYI:
Regards,
Ted
http://video.cnbc.com/gallery/?video=3000358970&play=1

I find that this M* category (Conservative Allocation) has some of the most "diverse" active strategies that attempt to achieve what M* defines as:
"...portfolios that seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds, and cash. These portfolios tend to hold smaller positions in stocks than moderate-allocation portfolios. These portfolios typically have 20% to 50% of assets in equities and 50% to 80% of assets in fixed income and cash."
M* source:
morningstar defines Conservative_Allocation_Category
For example DIFIX has a stock portfolio that focuses on Real Estate and Finance and a bond portfolio that is highly concentrated in High Yield bonds. USBLX and VTMFX seem to favor holding stocks using the S&P 500 index and holding mostly tax free Municipal Bonds.
The list of conservative allocation funds with long term success based on,
- beating its 1, 3, and 5 year category average of 4.29%, 6.14% & 7.01%,
- having reasonable expense ratio of under 1%,
- requiring less than $5K to invest,
- having a M* ranking of 4* or 5*,
- and not charging a load
is displayed below:

FYI: For many years, I’ve been asking people what money means to them. Typical responses have been words like “freedom,” “security,” “survival” and “happiness,” the kind of words that pack a real emotional punch. My take is that money is stored energy that allows us to do what we want with our lives. And though it does not bring happiness in and of itself, it brings the freedom to pursue happiness.
What does all this talk of freedom and happiness have to do with Jack Bogle? Well, in 1975, Jack brought the first index fund to the public through Vanguard Group. Since then, the assets in stock and bond index funds have grown to about $3.9 trillion, according to research company Strategic Insight
Regards,
Ted
http://blogs.wsj.com/totalreturn/2015/03/03/why-you-owe-your-freedom-to-jack-bogle-roth/tab/print/?mg=blogs-wsj&url=http%3A%2F%2Fblogs.wsj.com%2Ftotalreturn%2F2015%2F03%2F03%2Fwhy-you-owe-your-freedom-to-jack-bogle-roth%2Ftab%2Fprint&fpid=2,121

@John Chisum: If I'm not mistaken these two TRP Funds were discussed in David Snowball March 2015 Commentary. However, its nice to know your on top of the release of new mutual funds.
Regards,
Ted

It's an enormous mis-allocation of capital. Disgusting! As you research various stocks (say, the stocks in your stock MFs), do yourself the shocking favor of clicking on the insider trading tab/link. There you will see just where these buybacks are happening: conversion of stock options held by directors and co. executives, then immediately sold. Not the 10-20K per person we're used to seeing; it's 100, 200, 500K+ per person, over and over, company after company. And from where is the money coming to do these buybacks? Cash on the books? In some cases, yes, but increasingly it is coming from cheap corp debt issuance. So out the door walks the cash (as shareholder, it's your cash, the product of your investment) and you're left with .... the debt to service.
http://www.bloomberg.com/news/articles/2015-03-03/company-cash-bathes-stocks-as-monthly-buybacks-set-record