Like most small investors I tend to swim in the low end of the pool. When a cannon ball hits the deep end off the high dive I brace myself by taking gulp of air between large wakes of water.
Recently the Swiss Central Bank jumped off the high board, tucked their knees and made a pretty big splash in the US Equity markets.
Makes me cautious of the continued tailwind in the tech sector.
Article:
Switzerland's central bank now owns more publicly-traded shares in Facebook than Mark Zuckerberg

They say that it is targeted for advisors or those that will manage the cash position themselves. A fully invested portfolio, but cash is limited to 10%

Obit:
http://www.jsonline.com/story/money/2016/08/04/albert-o-ab-nicholas-dies/88273344/

As Birinyl pointed out,the timing to add REIT when it is at its height couldn't be worst. Also only 28 companies will be added and it is far short of VNQ and SHH which both have over 100 companies.

I will try :-P
True stories. I have messed up peoples portfolios just buying 1 share of stock they own. I have excellent track record doing that.

FYI: Laszlo Birinyi claims new real-estate sector designed to the ‘benefit of the vendor and not the customer.”
Regards,
Ted
http://www.marketwatch.com/story/sps-new-real-estate-sector-an-unnecessary-headache-says-laszlo-birinyi-2016-08-29/print

@Hank, Ive been rearranging my house too. Sold 1/2 my position in PKW and put it into VOO, VWINX, TWEIX and VCIT. Also am selling my biotech and transferring it to my health care fund PHSZX and PJP. I guess some of us are also lightening up on some riskier assets.

(With the deepest regards....)
https://www.sec.gov/Archives/edgar/data/913131/000091313116000022/nei497e082016.htm
497 1 nei497e082016.htm RULE 497(E)
Rule 497(e)
Registration No. 033-69804
1940 Act File No. 811-08062
SUPPLEMENT DATED AUGUST 29, 2016
TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION DATED JULY 31, 2016
OF
Nicholas Equity Income Fund, Inc.
THIS SUPPLEMENT UPDATES THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION.
PLEASE READ AND KEEP IT TOGETHER WITH YOUR COPY OF THE PROSPECTUS AND STATEMENT OF
ADDITIONAL INFOMARTION FOR FUTURE REFERENCE.
The purpose of this supplement is to notify the shareholders of Nicholas Equity Income Fund, Inc. (the “Fund”) with deep and sincere regrets that Mr. Albert O. Nicholas passed away on August 4, 2016. He was very hard working, diligent, humble, and generous. Effective immediately, Mr. Michael L. Shelton is the Lead Portfolio Manager of the Nicholas Equity Income Fund, Inc. and David O. Nicholas is the Portfolio Manager of the Fund. The information regarding the previous portfolio manager found in the following sections of the prospectus dated July 31, 2016 is deleted and replaced with the following effective August 29, 2016.
PART A: INFORMATION REQUIRED IN THE PROSPECTUS:
1. The section “SUMMARY -- Portfolio Managers” on page 4 of the prospectus is revised and restated as follows:
Portfolio Managers
Mr. Michael L. Shelton is the Lead Portfolio Manager of the Fund and is primarily responsible for the day-to-day management of the Fund's portfolio. Mr. Shelton is a Vice President of the Fund and has been the Lead Portfolio Manager of the Fund since August 2016. He formerly served as the Co-Portfolio Manager of the Fund from April 2011 to August 2016, and has been employed by the Adviser since 2006. Mr. David O. Nicholas is the President of the Fund and has been Portfolio Manager of the Fund since August 2016. He formerly served as the Co-Portfolio Manager of the Fund from July 2001 to April 2008.
2. The first paragraph of the section captioned “THE FUND'S INVESTMENT ADVISER” on page 12 of the prospectus is revised and restated as follows:
Mr. Michael L. Shelton is the Lead Portfolio Manager of the Fund and is primarily responsible for the day-to-day management of the Fund's portfolio. Mr. Shelton was the Co-Portfolio Manager of the Fund from April 2011 to August 2016. Mr. Shelton also serves as the Portfolio Manager to another fund managed by the Adviser, and has been employed by the Adviser since 2006, and is a Chartered Financial Analyst and a Certified Public Accountant. In August 2016, Mr. David O. Nicholas became Portfolio Manager of the Fund. Mr. Nicholas was the Co-Portfolio Manager of the Fund from July 2001 to April 2008. Mr. Nicholas is President of the Fund, a Director of the Adviser and the President, Chief Executive Officer and Chief Investment Officer of the Adviser. Mr. Nicholas also serves as a Lead Portfolio Manager or Portfolio Manager to other funds managed by the Adviser, and is a Chartered Financial Analyst.
3. The last paragraph of the section captioned “THE FUND'S INVESTMENT ADVISER” on page 12 of the prospectus is revised and restated as follows:
David O. Nicholas is a controlling person of the Adviser through his ownership of 60% of the outstanding voting securities of the Adviser which are held in trust for his benefit...

@MFO Members: In afternoon trading the S&P SmallCap 600 is up 1.40% , and the Russell 2000 1.50%. The trend is your friend !
Regards,
Ted

Yes ... But ... June '15 still not exceeded - another 52pts to go. Is that telling us something?
The only thing I can think about that today's action is telling us is that maybe the FED hike won't happen. Small caps are thought to be interest rate sensitive.
http://finance.yahoo.com/quote/^RUT/?p=^RUT

Hi davidrmoran
The "space" I was referring to is the small/mid value category. In my 401K, I enjoyed dedicated funds within each of these areas and was looking to replicate this in my IRA. Your suggestions are worthy as well.

@Crash TRPrice indicates two distributions,too; in Sept and Dec. of 2015 since your purchase.
We do our numbers every week and have for many years. We do the most simple process. So, for your TRGRX; if you purchased $10,000 on your noted date and the dollar value is now $11,469 (example only), one arrives at about +14.69 return noted.
I don't pay attention (other than checking) what distributions have taken place, (say over a 1 year period); but what is the total return during a given period.
I did see that TRP had return numbers, but were set for one year from July 31-July 31.
Anyhoo......have to get outside again before the rain arrives.

.....Hmmmmm. I see. But THAT is perplexing. Nothing, nowhere, can be trusted, then, to be frikkin' reliable--- not even the damned account-specific performance numbers from the fund company, itself. Thanks for your note, Catch. M* does show 1-year returns as +14.69%. But when I look at the hard-dollar numbers and work it out using a separate percentage calculator, I see that TRP is on target, while M* is full of shite. (sic.)

@Crash
Appears your TRGRX numbers are closer to YTD (8.84%) and not 1 year as indicated from purchase date, which is closer to 14.5%.
You're probably happier than you thought, eh?

Your guidance is much appreciated. Thanks to all. I always trim and rebalance just after the New Year. In Jan. of 2017, shall I take a chunk from TRGRX and dump it into PRDSX (Quant small-cap?) Or put it into PRIDX (int'l smid-cap?)..... Other choices include PREMX (14.68% of portfolio,) PRWCX (35.57% of portf,) and PRSNX (10.88% of portf.)
****************************************
These are actual, accurate performance numbers from TRP, not from M* or Lipper or Google: (And there have been no additions nor withdrawals from any of them, so the numbers are "true." SINCE INCEPTION, meaning since I opened the positions in each:)
-PRDSX +4.86% (since 8/20/2015)
-PRIDX +5.09% (since Jan. 4, 2016.)
-TRGRX +8.4% (also since 8/20/15.)

Oppenheimer's investors (529 participants) took a sizable loss in their "Core Bond" within a conservative portfolio. Oppenheimer settled out of court and a new administrator, TIAA-CRAF was named afterward
doj.state.or.us/releases/pages/2009/rel111909.aspx
It paid to get to know these companies prior to commit your 529 $ to them. Strong funds was charged with 2002-2003 mutual fund scandal, actually the worst offender charged among others. The founder of Strong fund, Dick Strong was banned for life from security exchange business afterward, and the mutual fund business was sold to Wells Fargo.
We considered Utah and decided to stay with States that Vanguard would manage the underlying portfolio and bookkeeping (i.e. all $ reside at Vanguard) for full transparency. In the end we picked Iowa over Nevada and New York based on the portfolio makeup with added exposure to emerging market. Thing may have changed since then.
https://personal.vanguard.com/us/whatweoffer/college/finda529Popup.jsf?cbdForceDomain=false
Other states including Utah use low cost Vanguard index funds and other mutual funds. I am glad to heat that Utah 529 is able to fulfill your need. Recently we changed our 529 portfolio since our kid will be attending college in less than 3 years.

The real estate sector has performed very well indeed. 12.54% is a big exposure. I currently have 6% invested.

ORK! Damn pay-wall. Anyhow, I'm overweight in Real Estate without even trying, these days: 12.54% of portfolio, though TRGRX is just 5.96% of my top 10 holdings, and my only earmarked RE fund. It's been shared here that it's best to stay domestic, though, and TRREX is doing better. One-year results:
TRREX +20.21%
TRGRX +14.69%.
Our own @JohnChisum advised me to own some Real Estate quite a while ago, and it's paid off. Thank you!

Thanks again for making a habit of posting the Bespoke valuation reports, Ted. It's hard to beat simple & comprehensive like Bespoke does.
The 10c summary: financials lead the U.S. pack, utes & health getting smacked, Brazil's taking a post-Olympics drubbing, gold & silver continue to correct, and something goosed natgas to the max.
--AJ

AAPL is a good chunk (12-15%) of technology index funds like IYW, XLK, FTEC, VITAX. But I don't think the concern is one of sector funds taking over the market. In broad based indexes like the S&P 500, AAPL represents about 3%. Would people sell an investment that they were 97% happy with just because they didn't like how the other 3% was being run? I'm more skeptical of that than you are.
But for the sake of argument, let's grant that people would bail on the S&P 500. Then all 500 CEOs would be punished for the sins of one. This may move prices of the whole market, but it's not an effective way of holding AAPL's management accountable - hitting a gnat (albeit a large one :-)) with a sledge hammer.
Going off on a slight tangent - I agree that some index funds are not robotic market participants. Some funds have the flexibility to buy and sell when prices are more to their advantage, as opposed to trading instantly when an index reconstitutes. To that small extent they can act to stabilize prices. This still doesn't help send a message to management, but it can move prices (a little).