Dodge & Cox Balanced Fund (DODBX)
Dodge & Cox Global Stock Fund (DODWX)
Dodge & Cox Income Fund (DODIX)
All on Honor Roll, which means they are top quintile in category the past 5, 3, and 1 year periods on an absolute return basis.

All ratings have been updated on MFO Premium site, including MultiSearch, Great Owls, Fund Alarm (Three Alarm and Honor Roll), Averages, Correlation, Dashboard of Profiled Funds, and Fund Family Scorecard.

@Old_Skeet
If this down draft continues,you might have to revive these threads.Your observations and insights were appreciated and well recieved by many of us.
From January 2016...............
Day Six & Day Seven ... Recent Selling Stampede Might Soon Be Ending
It's Day Eight /// Surprise ... Surprise ... Surprise!!
It's Day Nine ... Selling Stampede Continues ... Perhaps Plunge Protection Team Will Step In
Market Day Eleven ... It's Off to the Races
http://www.mutualfundobserver.com/discuss/profile/discussions/472/Old_Skeet
ARBITRAGE CREDIT OPPORTUNITIES ACFIX
Q3 2016 COMMENTARY
With several quarters of positive market performance
behind us, the fourth quarter could introduce new
volatility and opportunities given the upcoming US
elections, increased news flow detailing the UK’s plan
to exit from the EU, and the specter of December
interest rate hikes. As we saw during 2014 and 2015,
market gains can quickly reverse as investor
sentiment and direction rapidly change. While we may
not be able to predict political or economic outcomes
with certainty, we are aware of the risks and
outcomes that can result from changing events
https://arbitragefunds.com/restricted/get/Credit_Opportunities_Commentary.pdf
The death of retail isn't a problem for Starbucks
Nov. 4, 2016 3:50 PM ET By: Clark Schultz, Seeking Alpha News Editor
Starbucks (NASDAQ:SBUX) CEO Howard Schultz delved into some interesting large-scale retail issues during the company's earnings call yesterday.Schultz first noted that FedEx CEO Fred Smith shared some research with him confirming the significant drop in store traffic globally amid the 'Amazon Effect" across industries -- before he really turned up the retail bear rhetoric.
Q and A from SBUX conference call. Earnings Call Transcript (page 14-15)
John William Ivankoe - JPMorgan Securities LLC
Hi. Thank you. Howard, I was going to ask you to maybe apply the current environment in terms of what we're seeing both in the U.S. and around the world in the consumer environment,
Howard S. Schultz - Starbucks Corp.3rd Q
I was talking to Fred Smith just a couple of weeks ago about his situation at FedEx and he shared with me a piece of research which showed a significant drop in foot traffic on Main Street and in malls, not only domestically and around the world, as a result of e-commerce, the Web, and what I'll loosely describe as the Amazon effect. As a result of that, you're certainly seeing large companies and small companies not only not open new stores, but announce closures.
And let me just speak to that. I know this is a little long-winded but I think it's important. There's no doubt that over the next five years or so, we are going to see a dramatic level of retailers not be able to sustain their level of core business as a traditional bricks-and-mortar retailer, and their omni-channel approach is not going to be sustainable to maintain their cost of their infrastructure. And as a result of that, there's going to be tremendous amount of changes with regard to the retail landscape.
We believe, as we look down that pipe and look at the future, that our ability to maintain our growth in terms of new stores domestically and internationally, coupled with the fact that Starbucks still maintains a very special place in terms of a sense of community, the third place environment, and people looking for and seeking out human contact and a place to go, that as these store closures occur, and they will, that we are going to be in a very unique position five years, 10 years down the road because there's going to be a lot less people competing for those customers. I'm not talking about the coffee category; I'm talking overall.
But we are in the very, very early stages of a tremendous change in the bricks-and-mortar footprint of retailers domestically and internationally as a result of the sea change in how
people are buying things, and that's going to have, I think, a negative effect on all of retail.
http://seekingalpha.com/article/4019416-starbucks-sbux-q4-2016-results-earnings-call-transcript?page=15
Highlights of the Week:© 2016 Payden & Rygel
Equities Investors have been risk averse in light of the macro uncertainties, ignoring the first positive quarterly earnings growth in seven quarters.
Corporates: Corporate fund flows had a $2 billion out flow from mutual funds and ETFs
Securitized highlight of the week’s deal flow was the
$1 billion refinance of the Cosmopolitan Hotel in Las Vegas by Blackstone Real Estate
High Yield despite short-term volatility, the economic fundamentals that drive capital markets’ performance remain solid.
Municipals: Municipal issuance in October totaled approximately $53 billion, the largest total in 30 years and up 57% year-over-year...demand remained robust and municipal funds received approximately $1.7 billion of inflows during the month
.https://www.payden.com/weekly/wir110416.pdf

FYI: The S&P 500 was trading higher Friday as the benchmark stock index looks to avoid its first 9-session losing streak in 36 years and traders react to a report showing steady job growth in October and brace for the coming presidential election.
Regards,
Ted
Bloomberg:
http://www.bloomberg.com/news/articles/2016-11-03/japan-futures-tip-stock-losses-on-yen-bounce-pound-holds-gains
Reuters:
http://www.reuters.com/article/us-usa-stocks-idUSKBN12Z1CD
MarketWatch:
http://www.marketwatch.com/story/dow-futures-frozen-in-place-with-all-eyes-on-jobs-report-election-homestretch-2016-11-04/print
USAToday:
http://www.usatoday.com/story/money/markets/2016/11/04/stocks-dow-friday/93282134/
IBD:
http://www.investors.com/market-trend/stock-market-today/stocks-gain-ground-facebook-drug-stocks-bounce-modestly/
WSJ Markets At A Glance:
http://markets.wsj.com/us
Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker
Current Futures: Mixed
http://finviz.com/futures.ashx

@MFO Members: More than $3.5 trillion in global assets under management, as of June 30, 2016.
Regards,
Ted

FYI: (Click On Article Title At Top Of Google Search)
Vanguard Group smashed its annual record for inflows last year. This year, it surpassed that record in 10 months.
Regards,
Ted
https://www.google.com/#q=Vanguard’s+Inflows+Pass+Annual+Record+in+10+Months+wsj

On Yahoo Finance you can look up the historical prices for funds and there's an option to choose to see just the dividends. As far as I've ever been aware that will give you a complete history of dividends for the fund.
Here's a link to the page with historical prices and maybe even the dividends but I'm not sure the link captures the choice to see dividends... (I checked, it does, so you just have to enter the funds you're interested in)
https://finance.yahoo.com/q/hp?s=PRBLX&a=07&b=31&c=1992&d=10&e=4&f=2016&g=v

I think persistence studies of this sort are a bit of a red herring when you consider that not even long-term 'successful' active funds would clear the bar they set. They're measuring something but I'm not sure what it proves. More thoughts here.
http://syouth1.tumblr.com/post/152422482225/consistency-is-a-mirage
Respectfully submitted,
Jeff Ptak
Morningstar

Would a stable value option take the place of a required money market fund in a 401-k account? I'm in the yes camp, but not sure.
Derf

For those that might find an interest in Principal Small Mid Cap Dividend Income Fund ...
PMDAX is my largest fund owned within my small/mid cap sleeve and has performed very well, for me, since I have owned it with an average annual return rate of 14.6% to date. I purchased this fund back in November of 2012 and I'd buy more of it but it now accounts for 60% of the sleeve. Another fund that I own within this sleeve is PCVAX which is closed to new investors and has had an average annual returned rate of 16.0%, for me, since I purchased it back in October of 2008. The other fund owned within this sleeve is ABSAX (a more recent purchase for me) which is open for purchase. It is run by a good number of sub advisors utilizing a sleeve system much like what I use myself for management of my own portfolio.
Now, if I could only get back into NEFJX as this fund has been closed to new investors for sometime now and it performed very well for me while I owned it.
I wish all "Good Investing."
Skeet

Here is the response I received from T. Rowe Price after inquiring where the quarterly fund commentary sections went on their website:
"I regret to inform you that that the commentary that was once found when clicking on the formerly labeled "Management/Commentary" tab has been removed for each fund. After careful consideration and research, we found that the tab did not receive enough visits to warrant keeping the commentary when combined with the knowledge that the commentary was never timely or 100% up-to-date despite our best efforts. We are working on developing a more robust experience for our shareholders to utilize in the future.
In the interim, we believe our T. Rowe Price Insights page will provide you with some of the information you may be looking for when it comes to investments, the markets & economy, and retirement & financial planning. These various pages are updated regularly with commentary and articles from specific investment professionals."
Very disappointing - I like to read a fund manager's commentary on how the fund performed, positioning, outlook, etc. each quarter.

FYI: Guggenheim Investments had positive net flows in its seven fixed-income mutual funds, its suite of BulletShares indexed exchange-traded funds, and both of its actively managed fixed-income ETFs in October, to reach a firm record $20 billion in retail fixed-income assets, the firm said on Wednesday.
Regards,
Ted
http://www.reuters.com/article/us-funds-guggenheim-idUSKBN12X26S

(1) ytd, I think it would be fair to say that performance has been below the expectations of most investors in the fund;
(2) he has said, on numerous occasions, almost since inception in fact, that DoubleLine would consider a soft close for this vehicle at around $50B, and we be over $61B and no talk of holding the fund's size in check yet, so...... what's up with that? Maybe it's time for investors to do some trimming/slimming.

https://www.sec.gov/Archives/edgar/data/898745/000089874516001580/pfi831saisupp110216.htm
497 1 pfi831saisupp110216.htm PFI 831 SAI SUPP 110216
Principal Funds, Inc.
Supplement dated November 2, 2016
to the Statement of Additional Information dated December 31, 2015
as amended and restated March 29, 2016
(as supplemented on May 2, 2016, May 31, 2016, June 17, 2016,
July 29, 2016, September 16, 2016, and October 28, 2016)
This supplement updates information currently in the Statement of Additional Information. Please retain this supplement for future reference.
PURCHASE AND REDEMPTION OF SHARES
Under Purchase of Shares, add the following:
Small-MidCap Dividend Income Fund
For retail investors (i.e., non-employer sponsored retirement plan investors), effective as of the close of the New York Stock Exchange on December 1, 2016, and for employer-sponsored retirement plan investors, effective as of the close of the New York Stock Exchange on January 6, 2017, the Small-MidCap Dividend Income Fund (the “Fund”) will no longer be available for purchases from new investors except in limited circumstances.
• Shareholders, including those in omnibus accounts, who own shares of the Fund as of December 1, 2016 (for retail investors, i.e., non-employer sponsored retirement plan investors) or January 6, 2017, (for employer sponsored retirement plan investors), may continue to make purchases, exchanges, and dividend or capital gains reinvestment in existing accounts.
• Registered Investment Advisor (RIA) and bank trust firms that have an investment allocation to the Small-MidCap Dividend Income Strategy (i.e. investments in the same strategy used in collective investment trust, insurance separate accounts, or separately managed accounts) in a fee-based, wrap or advisory account, may add new clients, or purchase shares in the Fund. The Fund will not be available to new RIA and bank trust firms.
•Shareholders through accounts at private banks may continue to purchase shares and exchange into the Fund. Private Banks that have an investment allocation to the Small-MidCap Dividend Income Strategy may add new clients to the Fund. The Fund will not be available to private bank or private bank platforms not already investing in the Small-MidCap Dividend Income Strategy.
• Shareholders in broker/dealer wrap or fee-based programs that have an investment allocation to the Fund may continue to purchase shares and exchange into the Fund. Existing broker/dealer wrap or fee-based programs may add new participants.
• Shareholders in certain types of retirement plans (including 401(k)s, SEPs, SIMPLEs, 403(b)s, etc.) may continue to purchase shares and exchange into the Fund. New participants in these plans may elect to purchase shares of the Fund.
• Retirement plans in transition as of the closure date will have until January 6, 2017, to fund any new accounts in the Fund.
• Investors who open a new IRA transfer or rollover account by the close of business on December 1, 2016, will have until January 6, 2017, to fund these accounts.
•Shareholders within brokerage accounts may continue to purchase shares of the Fund; however, new brokerage accounts will not be permitted to begin investing in the Fund after December 1, 2016.
• 529 plans that include the Fund within their investment options may continue to purchase shares and exchange into the Fund.
•Investors who have a direct investment in the Small-MidCap Dividend Income Strategy may, subject to the approval of the Distributor, purchase shares in the Fund.
At the sole discretion of the Distributor, the Fund may permit certain types of investors to open new accounts, impose further restrictions on purchases, or reject any purchase orders, all without prior notice.

FYI: Investors pulled $33.2 million from Jeffrey Gundlach’s DoubleLine Total Return Bond Fund in October, the first outflow since January 2014.
Regards,
Ted
http://www.bloomberg.com/news/articles/2016-11-01/gundlach-s-total-return-fund-hit-with-first-outflow-since-2014

This election cycle may seem like it's been going on for years, but it's only been a bit more than a year since the Donald took his elevator ride, and just five days longer since Salient completed its acquisition of Forward. That didn't happen years ago, though it may feel that way.
http://abcnews.go.com/Politics/donald-trump-rode-escalator-2016-presidential-announcement/story?id=31801433 (candidacy announcement)
http://www.prnewswire.com/news-releases/salient-partners-completes-acquisition-of-forward-management-300096863.html (June 10, 2015)
Salient's acquisition involved only the management company. Unlike most acquisitions, Salient didn't restructure the funds. Usually what happens is that shell funds (like shell corps) are created that absorb the old funds.
For example, here's the agreement for Wells Fargo's acquisition of Strong funds (dare I comment on one firm of questionable ethics acquiring another?):

each Acquiring Fund ... [shall] acquire substantially all of the assets and assume
substantially all of the liabilities of the Acquired Fund
SHELL ACQUIRING FUNDS...........The Acquiring Funds that have no assets or
liabilities as of the date of this Plan.

https://www.sec.gov/Archives/edgar/data/1081400/000084051904000454/agreeandplan.txt (Exhibit from N-14AE filing dated 9/15/2004)
In contrast, looks like there was no reorganization of the Forward Funds. Further, even the management company did not change - Forward Management, not Salient, continued as the fund manager.

On June 9, 2015, Forward Management was acquired by Salient, an asset manager headquartered in Houston.... Subsequent to the acquisition, Forward Management continues to act as the investment advisor of the Funds as a wholly-owned subsidiary of Salient.

SAI, Jan 4, 2016.
https://www.sec.gov/Archives/edgar/data/889188/000119312516420390/d102511d497.htm
So you are correct that technically, legally, these are still Forward Funds, unlike what happens in typical acquisitions, where the funds are restructured and the trusts change.
Regarding M*'s websites (plural) ... Try to find a fund beginning with "Salient EM" in the "classic" site's quote box. This comes up empty, but the site has no problem finding "Forward EM" funds. In contrast, the "beta" site gets it right - it finds the former, but does not recognize the obsolete Forward names. Calling this discrepancy a "feature" does not help matters.
The problem appears to be that M* is not keeping its "classic" database current. The resulting inconsistency between its websites merely adds to the confusion that Salient created by changing the funds' branding without changing their legal structure.
Finally, regarding the fee change. I misread the change - I should have looked at the older filings. This isn't a reduction in fees, but an increase. What changed was the addition of footnote (3) - a new fee "waiver" agreement, that actually results in higher fees getting charged.
What happened was that there had been a fee waiver agreement in place until May 1, 2014. The financials in the current (May 1, 2016) prospectus state that. That expired fee agreement may be found here.
As noted in footnote (2) to the fee table, the management company was unable to recoup the fees it waived because this fee agreement expired. So what it did was put a new agreement in place, with a higher expense limitation. For example, instead of limiting ER of the Investor shares to 1.34%, the expense will now be "limited" to 1.85%. Since the actual expenses are running "just" 1.74%, this new agreement allows the management company to recoup 0.11% (i.e. charge the full 1.85%). It had been unable to do that once the old agreement expired.
In other words, this looks like a money grab by the management company down to the very last minute.

FYI: Bank of America Merrill Lynch told its financial advisers Tuesday to halt the sale of mutual funds in brokerage-based individual retirement accounts, months before the Labor Department's new fiduciary regulation takes effect.
Regards,
Ted
http://www.investmentnews.com/article/20161101/FREE/161109984?template=printart

Yes, the joy, the .... "magic":
http://www.pionline.com/article/20161031/PRINT/310319975/gross-eager-to-repeat-magic-that-made-him-investing-guru

And, if one CIO was good, then six will be better:

Meanwhile, in place of Rogers (age 61), T. Rowe will have six CIOs: group CIO Rob Sharps (45), U.S. equity growth CIO Henry Ellenbogen (43), U.S. equity multi-discipline CIO David Giroux (41), U.S. equity value CIO John Linehan (51), international equity CIO Justin Thomson (48), and fixed income CIO Mark Vaselkiv (58).

http://www.mfwire.com/article.asp?template=article&wireid=2&storyID=55075&bhcp=1

Highlights of the November issue include:

• BobC works through a quick, clean list of our investing biases and mistakes, then offers a half dozen tips for managing them.
  
• Leigh Walzer of Trapezoid LLC takes on the myth that the road to riches lies along the path of highly concentrated investing; it’s a strategy that sounds grand but, empirically, fails much more often than it succeeds.
  
• Global debt has reached $150 trillion dollars, two-thirds of that owed by corporations and individuals. In Ten Million Miles High, we offer a sense of how much that is, why it is and ten ways to steady yourself against it.
  
• Ed Studzinski, catching some of the same vibe, offers his suggestion for post-election investing. Short version: dodge the conventional wisdom.
  
• Charles catches up with John Ameriks, head of Vanguard’s Quantitative Equity Group which manages, or contributes to managing, 15 Vanguard funds.
  
• Impending webcasts from two funds: Litman Gregory Masters Alternative Strategies (MASNX), which is celebrating its fifth anniversary and “Bronze” rating, and RiverNorth Marketplace Lending Corporation (RMPLX), a newly-launched, nearly hedge fund targeting gains from the marketplace (a/k/a peer-to-peer) lending universe.
  
• An Elevator Talk with Donald Porter of DHGM MicroCap Value (DGMMX), a six-month old fund with a successful 25 year track record.
  
• The return of the capital gains season brings the return of the Cap Gains Valet. Chief Valet Mark Wilson previews the season ahead.
  
• for folks looking for managers well-equipped to handle hostile markets, we used the screener at MFO premium to help you out in Counting on the Winners.
  
• Twenty funds in registration, including a particularly interesting new emerging markets fund. Rajiv Jain, who did great work with the $7 billion Virtus Emerging Markets Opportunities Fund, left in May and is now launching his own EM fund. While we’re at it, we also take a swat at a dozen new ETFs.

For what that's worth,
David