New fund is "US High Yield". PRHYX currently "only" about 71% US bonds. Foreign bonds definitely not EM or Frontier heavy.
Not sure if now is the right time, but in 30 years I doubt anyone will say the fund would have been better if only they had launched it 5 years earlier/later... unless it fails and someone on MFO remembers this thread. Maybe Ted will be around then to post it.

Confused.
1) name of new fund is same as name of existing fund ?!?!?! and
2) Today is good time to start a high yield fund?
what am i missing?

Damage to FAIRX today is 12.98%.

Basically back to square one YTD.

Yikes! Haven't found any capital distribution news.

Why would this trigger distribution? You think Jerky Berky will sell? No way. Everyone needs their WAMU. He will keep fighting.

Damage to FAIRX today is 12.98%.

@MJG noted: "Yes, Wall Street has many shortcomings, but it must provide a useful function. It serves and thrives independent of its many scandals. It recovers rapidly from these scandals which speak to its necessity, and also the need for regulation. All coins have two sides.
I do believe the big kids in the money world find their favorable coin to have been struck on a single sided planchet.
Ha..........a common legal phrasing by whomever or entity upon being fined by the S.E.C;
Without admitting or denying any wrongdoing.
Hand slaps of money fines and no jail time. Jeez, the small folks are still being thrown in jail for tiny crimes or implied crimes. Forfeiture of assets by private citizens before being found guilty. Hell, aside from techniques; little has changed with the "money changers" over a few thousand years.
This link doesn't include mortgage related fines, etc.; and is related to other deeds ($12 billion in fines from 2009).
http://www.gao.gov/assets/680/675987.pdf
This link is for other "fine" goodies for the past 8 years.
https://www.google.com/#q=s.e.c.+fines+paid+by+financial+institutions+for+the+past+8+years
I haven't been asleep to the circumstance that I consider most of our investments to be mingled among the big money of the world; among many big money pimps and that this small personal sum of the global values of money is nothing less than investing "whore" money.
Regards,
Catch

Here is mjg's cartoon... I rather like it:

Hi Guys,
Folks have been beating up on Wall Street for a long time.. The question is what and how exactly does Wall Street contribute to our economy. This cartoon provides a common answer:
http://www.newyorker.com/wp-content/uploads/2010/11/101129_r20264_p886-872.jpg
Output is identical to input! Attacking the need for Wall Street is not new. It has been practiced almost for the Street's entire existence. A short, humorous challenge was nicely summarized in the book " Where are the Customers Yachts?". Here is a Link to an article that lifted a few quotes from that insightful book:
http://awealthofcommonsense.com/2015/02/10-great-lines-customers-yachts/
Yes, Wall Street has many shortcomings, but it must provide a useful function. It serves and thrives independent of its many scandals. It recovers rapidly from these scandals which speak to its necessity, and also the need for regulation. All coins have two sides.
Best Wishes

Not impressed...what are your "bear market" funds?
bear-market-defenders

FYI: To outsiders, Wall Street is a manic, dangerous and ridiculous republic unto itself – a sort of bizarro world where nothing adds up and common sense is virtually inapplicable.
Consider the following insane things that we believe on Wall Street, that make no sense whatsoever in the real world:
Regards,
Ted
http://ritholtz.com/2017/02/jb-10-insane-things-believe-wall-street/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+TheBigPicture+(The+Big+Picture)

FYI: It’s been well-documented that, on average, retail investors are “dumb” money. For example, on average, the stocks they buy go on to underperform and the stocks they sell go on to outperform. Investors, sadly, even manage to underperform the very mutual funds in which they invest.
Regards,
Ted
http://www.etf.com/sections/index-investor-corner/swedroe-investing-habits-affected-genetics?nopaging=1

If I can't be whole again in 3 years, then I don't want to invest there.

@VintageFreak,
Historically none of your funds have ever experienced a negative 3 year rolling average.
GLRBX has data back to 1996:

OAKBX data goes back to 1998:

ICMBX has to shortest history going back to 2008:

A fund like VWINX has maintained stellar 3 yr rolling average results for over 30 years. I'll let the managers of this balance fund decide the blend of equities and bonds (percentages & types).

@ducrow

I own BTBFX - good Perfomance,Rereasonable Expense Ratio,Small AUM

Good work!
@Puddenhead

Yes I own BTBFX also, I use it as a counter balance to VWINX

Excellent choice(s).
@VF Despite the SRI/ESG focus of WSBFX, the portfolios as of the September 2016 semi-annual report are very similar on the stock and bond side with significant overlap, and so I'm seeing very little difference using the SRI/ESG criteria between them. At .99, the two funds are highly correlated throughout their long history.
In its 21-year history, BTBFX has only had four losses: 2000: -1.55%; 2002: -1.33%; 2005: -.02; and 2008: -17.76%. Its lifetime performance against the S&P 500 lags by -.7%; 20 yr. by -.2; 10 yr. by -.2; 5 yr. by -5; 3 yr. by -3.1; and 1 yr. by -6.6.
BTBFX has underperformed the SP500, its benchmark, during the current Up Cycle (200903-201701 by 6.7% and the previous Up Cycle by -5.7% However, its performance in Full Cycle periods is outstanding: +4.1% (200009-200710) and -0.5 in 200711-201701.
During Down Cycles, 200009-200209 and 200711-200902, it outperformed by +21% in each period. Furthermore, its Sharpe, Sortino, and Martin Ratios are superior for 20 and 10 yrs., competitive for 5 and 3 yrs., but lag more in the last year. Its MAXDD is superior or much superior to the S&P for 20,10,5,3, and 1 yr.
While the Lipper Flexible Category fund MBEAX profiled this month is not in the Mixed Asset Target Allocation Growth Category (70-85%) like BTBFX, a comparison of the 10-Year Performance of BTBFX vs. PEERS, VBINX, VGSTX, and MBEAX (Since 200702) shows superior performance and risk metrics for BTBFX vs. its own peers, VBINX, VGSTX, and MBEAX in all areas except three for MBEAX: Recovery +9 mos., STD DEV +.1, and ULCER +.3.
I haven't looked at too many other AA products, but based on the research I've done, BTBFX as a GO and 5* at our competitor is worthy of consideration and is owned at MFO. Its ER is .94, and the 100K institutional minimum is waived at VG, Fido, and at TD, where it's 1K. The firm will not make it available at Scottrade or Schwab, as I learned last week, because it is too expensive to list there, they said.
I'm glad you noticed the fund and posted your question. Because I had been working on the product too, I thought I'd add what I can. (My apologies if you already know these things.) Best.

@STB65, Regardless what others may think you need to have an allocation/plan that you can sleep. I agree what you said on QE and market valuation. As always market timing is difficult and many of us have learn here.
Lately I have been rebalanced out of equity into cash or short term bond as I think US market is ahead of itself. Also pick up some gold ETF, IAU just to hedge inflation (regardless what the government reported). March 15th is next Fed meeting and there is increasing probability of 25 basis point hike. Similar to 2016, there is likely two other hikes this year. As for my bond allocation, I use balanced fund, PRWCX and WNENX so that the managers can make decision on the % bond-equity.

WAMFX,BTMFX at Fido
250 in 401 brokerage link
2500 in ira
the Pudd

FYI: It happened at least once a year, every year. In a roomful of a dozen Harvard University financial officials, Jack Meyer, the hugely successful head of Harvard’s endowment, and Lawrence Summers, then the school’s president, would face off in a heated debate. The topic: cash and how the university was managing – or mismanaging – its basic operating funds.
Through the first half of this decade, Meyer repeatedly warned Summers and other Harvard officials that the school was being too aggressive with billions of dollars in cash, according to people present for the discussions, investing almost all of it with the endowment’s risky mix of stocks, bonds, hedge funds, and private equity. Meyer’s successor, Mohamed El-Erian, would later sound the same warnings to Summers, and to Harvard financial staff and board members.
Mohamed was having a heart attack,’’ said one former financial executive, who spoke on the condition of anonymity for fear of angering Harvard and Summers. He considered the cash investment a “doubling up’’ of the university’s investment risk.
But the warnings fell on deaf ears, under Summers’s regime and beyond. And when the market crashed in the fall of 2008, Harvard would pay dearly, as $1.8 billion in cash simply vanished. Indeed, it is still paying, in the form of tighter budgets, deferred expansion plans, and big interest payments on bonds issued to cover the losses.
Regards,
Ted
http://ritholtz.com/2017/02/harvard-ignored-warnings-investments/

@MFO Members: WAMFX vs. BTMFX: Min. Investment $100,000
Regards,
Ted
M* Snapshot WAMFX:
http://www.morningstar.com/funds/xnas/wamfx/quote.html
M* Snapshot BTMFX:
http://www.morningstar.com/funds/XNAS/BTMFX/quote.html

@Maurice,

I can tell you that I've held cash longer than I ever have, and it has been my biggest mistake of all the years that I've been investing.

Putting cash back to work is challenging.
One way would be to "dip your toe" into conservative allocation funds. Funds like HBLIX, CBUZX, DIFIX, VWINX might fit this category. Try to own funds that you're comfortable holding through thick and thin (7- 10 years). To deal with the "thin", calculate (best estimate) what your (1-3 year) distribution needs will be. Keep this part of your portfolio in "near cash" or "cash" investments.
This thread is full of choices and it takes some time to digest. Do some research, select your options, and segregate this (1-3 year) amount from the rest of your portfolio. Once you can fill your 1-3 year needs move further out on the risk/reward/time line.
Time often a forgotten investment consideration. Time helps build positions (by DCA), time helps to smooth out market volatility, time provides undervalued assets to be recognized and revalued. Time also provides a framework for investors to reallocate their portfolio.
Consider these time frames for your portfolio: 1-3 years, 3-7 years, and 7-10 years. Three "time categories" that each of your investments should fit in. The percentage that is dedicated to the three categories is based on age, need, resources, goals, and any other tangible reasons to put "saved money" in that category.
Approach your "saved money" from the standpoint of goals (what did you save it for in the first place). For me, this approach is goals based, time based, and creates a set rules I can follow (a plan). It's success is not guaranteed, but it helps me stay the course.

@ibartman & MFO Members: Sorry, here's the screen.
Regards,
Ted
https://www.bespokepremium.com/bespoke-report/the-bespoke-report-21717/

@STB65,
Have you considered dollar cost averaging that money in over 1-2 years? Then if we do get that decline you can take advantage of it.