That chart shows QQQ +1984% with divs and if you add _QQQ (no divs) it shows +1721%.

Suppose you have 1 million in Fidelity SP500 (FXAIX) and you want $4K monthly. You can create a sell monthly trade on a specific date to run for years to do it...and you are done.

Only if you have the stomach for it. If you had $1M on Jan 1, 2022, and set up that trade you would be down $283,000 come October with zero guarantee that things were about to improve, and most likely torturing yourself thinking about what a terrible mistake you made.

My post wasn't discussing volatility, and no one advised to put it all in one fund.
It was an example of why you should invest based on TR and/or most people use risk-adjusted performance.
But why did you start on 1-1-2022? Why not start in 2008 and show it was down over 50%?
waggon:

How a fund delivers those dividends may have some short-term effect on returns, but there's no denying that dividends play a massive rose in returns. Since 1989, again according to S&P, the index has gained 1,393% without dividends; it's up 2,930% with dividends. With that kind of performance differential, it's hard to argue that dividends don't matter.

Why look at more than 30 years ago? The fact is that Divy have been going down. Since 2009, QQQ made about 1900% with minimal divy. High Divy stocks made a lot less than QQQ. (https://schrts.co/UhfIDyIu)

This is the likely outcome that is also reported by M* and others,
https://www.morningstar.com/news/marketwatch/20240617132/popular-tech-etf-forced-to-dump-apple-stock-buy-nvidia-in-upcoming-rebalancing
Things were really close in Friday's finish. In fact, AAPL was ahead of NVDA in the market-cap, but SPDR uses free-floats for XLK, and there NVDA seems ahead. So, for example, Warren Buffett couldn't have helped out his buddy Tim Cook by buying a few billion worth of AAPL that he sold recently - because of his large AAPL position, his shares are no longer part of the free-float.
All these articles do hedge a bit because SPDR/S&P hasn't issued a formal press release yet (why not?). But this huge AAPL to NVDA shift in XLK will be all done by the coming Friday, 6/21/24.
IMO, SPDR/S&P should review its strange way of rebalancing - nobody else does it in this silly manner.

Diversification means always having to say you're sorry about some investment in your portfolio!

I liked this one. Goes on the fridge.
Like a few others here, I am having trouble opening up my wallet to buy much at current asking prices - especially when I can expect to earn 5% in cash.

I guess Apple continues to be run conservatively.
https://www.cnbc.com/2024/06/17/apple-stops-offering-buy-now-pay-later-loans-in-us-.html

This is from a few minutes ago and i was surprised by the magnitude of change
https://www.cnbc.com/2024/06/17/nvidia-to-get-20percent-weighting-and-billions-in-investor-demand-while-apple-demoted-in-major-tech-fund.html

It was these assertions, the ones stating that large dividends help increase a fund's total return (i.e. enable it to catch up) that I've been questioning. You also wrote I was getting it backward. That it wasn't that higher dividends contribute higher total returns but rather that stocks with higher dividends tend to be better performing stocks.
Well, you'd be hard-put to invest in the S&P without investing in dividend payers. According to S&P, 403 stocks in the 500 pay dividends. All but two of the largest stocks in the index -- BRK and AMZ -- don't pay dividends. If you own a large-cap stock fund, you will get a dividend payout, most likely.
How a fund delivers those dividends may have some short-term effect on returns, but there's no denying that dividends play a massive rose in returns. Since 1989, again according to S&P, the index has gained 1,393% without dividends; it's up 2,930% with dividends. With that kind of performance differential, it's hard to argue that dividends don't matter.

I initiated a sizable stake in a CEF one morning around mid-week last week. I didn’t realize until after buying that it was set to go ex-dividend the next morning. At 2:00 PM the same day (a day before going ex-dividend) it fell out of bed, falling around 4%. The move was sudden, leading me to think somebody’s algorithm had kicked in. I then threw a few more dollars at it. It has been on the upswing for several days now, including even on its ex-dividend day and is now back near what I invested. With the dividend to be paid out in about 10 days, I’m ahead slightly.
I’m curious what, if anything, might have caused the brief plunge the day before going X? Best answer I can think of is folks felt it had been bid up in anticipation of going ex-dividend and wanted to cash out rather than hang around and wait to receive a dividend. Maybe there’s tax incentive for doing something like that? It’s crossed my mind that some big player noticed my 5-figure purchase in the morning and was trying to shake me out (prompt me to sell at a loss). I doubt that, however, because I don’t possess the kind of mega-bucks necessary to be considered a serious player or elicit another trader’s attention. Just food for thought … Obviously, I’m relieved to see it recover all its one-day losses over 3 or 4 trading days.
PS: Yogi once said: “Dumb money in the morning. Smart money in the afternoon.” Certainly held true in this one case.

This seems to be the October 1 - Sep 30, 2025 outcome period version of CPSM which started on May 1. Not sure why they picked Oct 1. May be they received interest with enough size for that date to make it worthwhile for them.

@stillers. Perhaps another universe is oddly phrased, but my financial life would be entirely different if I had a pension check roll in every month. Many decisions would be looked at differently.

Oh, now I get it!
And agreed, our collective SS and Pension incomes result in negligible, if any in some years, annual income gap. Makes a world of difference in all of our financial and investment decisions. We played it close to the vest in our first five years of retirement, but have swung for the fences in our last seven. To our credit though, we started planning for our retirements and this very situation on Day 1 of our first professional jobs in 1980. Well, I did at least. The missus got on board a wee bit later!

Nice chart in this article:
https://www.cnn.com/2023/09/07/success/pensions-retirement-savings-explained/index.html
https://www.investopedia.com/articles/retirement/06/demiseofdbplan.asp#:~:text=Key Takeaways,to manage than pension plans.
https://www.the-ifw.com/retirement/why-did-pensions-go-away/#:~:text=In the 1980s, the United,voluntary contributions towards retirement plans.

@stillers,
While I am not directly invested in the AI theme, I would appreciate you telling us when you think it may be time to get off the semi-conductor or Nvidia trade train (or when you sell). I know from your posts that you are directly invested in the AI theme and so your judgement is as good as any for me.
(I previously posted: If I do not respond to future posts about Rev Rec, pl do not assume I agree with any commentary in those posts. I have no comment on the Seeking Alpha article.)

Yeah, the proverbial $64K question.
Macro: The history of AI goes back to the 1950's. I posted a link this year detailing the phases. The current AI phase is expected by some of the analysts I follow to have another five years of growth in it. So there's that.
Micro: As I've posted a few previous times...My greatest exposure to AI is via FSELX though I certainly get plenty more via other OEFs. I've owned FSELX since near its inception. I routinely shave its allocation when it exceeds a given % of our Market Portfolio, and usually roll the proceeds to broader tech funds. That time has come again and I will likely be lightening up this week on FSELX to that extent, put may park the proceeds this time in FZDXX (per the following notion). I am also considering lightening up this week on some other OEFs with heavy tech/AI allocations. The FSELX sale is pre-programmed, so to speak, while the latter sales, if they happen, will be more of a gut feeling that I may be getting a wee bit greedy here. I will post any sales in this regard on the B/S/W thread. But no plans to significantly alter my tech/AI allocation...yet.

https://www.sec.gov/Archives/edgar/data/1545440/000158064224003191/westwoodcapappinc_497.htm
497 1 westwoodcapappinc_497.htm 497
June 17, 2024
WESTWOOD CAPITAL APPRECIATION AND INCOME FUND
Class A Shares Ticker Symbol: WWTAX
Class C Shares Ticker Symbol: WTOCX
Institutional Shares Ticker Symbol: WLVIX
A Series of Ultimus Managers Trust
Supplement to the Prospectuses and Statement of Additional Information
dated February 28, 2024, as supplemented
On May 24, 2024, the Fund discontinued all sales of its shares, except shares purchased by existing shareholders through an established automatic investment plan, or shares acquired through the reinvestment of dividends and distributions. Effective July 16, 2024, shares of the Fund are no longer available for purchase and, at the close of business on July 16, 2024, all outstanding shares of the Fund will be redeemed at net asset value (the “Transaction”).
The Board of Trustees of the Trust (the “Board”), in consultation with the Fund’s investment adviser, Westwood Management Corp. (the “Adviser”), determined and approved to discontinue the Fund’s operations based on, among other factors, the Adviser’s belief that it would be in the best interests of the Fund and its shareholders to discontinue the Fund’s operations. Through the date of the Transaction, the Adviser will continue to waive investment advisory fees and reimburse expenses of the Fund, as necessary, in order to maintain the Fund at its current expense limit, as specified in the Fund’s current Prospectus and Summary Prospectus.
In connection with the Transaction, the Board directed that: (i) all of the Fund’s portfolio securities be liquidated in an orderly manner not later than July 16, 2024; and (ii) all outstanding shareholder accounts on July 16, 2024 be closed and the proceeds of each account, less any required withholding, be sent to the shareholder’s address of record or to such other address as directed by the shareholder, including special instructions that may be needed for Individual Retirement Accounts (“IRAs”) and qualified pension and profit sharing accounts. As a result of the Transaction, the Fund’s portfolio holdings will be reduced to cash or cash equivalents. Accordingly, going forward, shareholders should not expect the Fund to achieve its stated investment objective.
Shareholders may redeem all or a portion of their shares of the Fund on any business day prior to July 16, 2024 as specified in the Fund’s Prospectus.
The Transaction will be considered for tax purposes a sale of Fund shares by shareholders, and shareholders should consult with their own tax advisors to ensure its proper treatment on their income tax returns. In addition, shareholders invested through an IRA or other tax-deferred account should consult the rules regarding the reinvestment of these assets. In order to avoid a potential tax issue, shareholders generally have 60 days from the date that proceeds are received to re-invest or “rollover” the proceeds into another IRA or qualified retirement account; otherwise, the proceeds may be required to be included in the shareholder’s taxable income for the current tax year.
If you have any questions regarding the Fund or the Transaction, please call the Fund toll free at 1-877-FUND-WHG (1-877-386-3944).
Investors Should Retain this Supplement for Future Reference.

I was surprised to learn recently that regardless of “tread-wear” tires need to be replaced at a time interval set by the manufacturer - usually about 6 years - a year or so longer with some premium brands. The reason is that the sidewalls deteriorate over time and could cause a blowout. This was pointed out to me when I had my old 2005 pickup in for routine servicing a year or two ago. The mechanic pointed to extensive visible cracks in all of the sidewalls. The tire treads were lightly worn. I drive the old truck only about 1,000 miles a year, but often heavily loaded. The tires were probably 10 years old. Of course I replaced all 4.
Edmunds Commentary: How Old / Dangerous Are Your Tires?
Per @msf’s experience with an oil change - I encountered the same resistance a few years ago when I took the old pickup in for an annual oil change at a local “quick lube.” The guy claimed the oil looked “clean” on the dipstick and at first declined to change it. Eventually, I convinced him to do so. For us old-timers that seems indeed odd. We were taught (I believe correctly) that an oil’s “appearance” is not an accurate way to to access its condition or need to be replaced. And it seems especially peculiar a vehicle service center would voluntarily turn down a chance to make a dollar. I’m wondering if perhaps there’s been some pressure applied by the EPA to encourage or coerce oil change outfits to do this visual inspection with the goal of reducing the amount of waste oil, which presents environmental challenges (though I believe it can be recycled).
”Do I receive compensation for observing that the risk is water condensation?:-)”
As the old expression goes, ”a penny for your thoughts …” :)

It is the same with shoes. You should wear them at least once in a while; otherwise, the soles will just crumble. I stopped working soon after I bought a couple of pairs of formal, expensive shoes. When I took them out after a few years, the soles did not hold together.
After 7 years of buying my tires, once a year, I asked the Costco tire center person for his opinion if I need to change the tires. After 10 years of use, the Costco person said I should change because he noticed weak spots developing on the side of the tires.

That’s a nod to the fact that over time compensation (water) can form inside the engine and contaminate the oil.
Do I receive compensation for observing that the risk is water condensation? :-)
The first time I brought our car in for annual servicing, when I picked up my car they told me they didn't change the oil (even though I had requested it) because it was completely clean. They said they would have felt guilty charging me so much for an unneeded synthetic oil change.
The purity of the oil was no surprise - I drive around 1,000 miles/year. But since that first servicing I always tell them that I don't care how clean the oil is, change it.
An even more tangential question - how often do you replace tires? I used to drive 18,000 miles per year, so it was easy - buy tires when the old ones wear out. But now, there's no wear. I've read that the rubber is only supposed to last six years or so. If I replace tires every six years, at 1K miles/year I won't ever have to rotate them!

I used to be fanatical about oil changes. Up until around 2005 I did my own - crawling around under the pickup or driving my small cars up on ramps to work underneath. A couple things changed. Vehicles got lower and lower to the ground making it very difficult to work underneath. And tolerances (the acceptable degree of harmful “slack” or “play” on internal engine components) got narrower and narrower as better tooling / techniques evolved. This led to greatly reduced wear on internal components, reducing the need to change oil as frequently. At the same time, oils improved and synthetics (even better) came into common use. So the manufacturers gradually extended the oil change intervals from a few thousand miles in the 60s to (a guess here) 10K or more today.
I don’t pay attention to dates or mileage anymore because my 2018 Honda (like most new vehicles today) monitors oil changes and dozens of other service items, alerting me when it’s close to time for service. The system monitors not only miles driven, but things like outdoor temps, total number of days, idling time (hard on engines), speeds driven, number of stops & starts, ad infinitum. Much better ISTM than any prescribed limit based on miles or time. That said - I’ve yet to see a vehicle manual that doesn’t tell you to change the oil at least once a year. That’s in part a nod to the fact that over time compensation condensation (water) can form inside the engine and contaminate the oil.
One note: For “severe service” conditions - things like driving in mountains, pulling a heavy trailer, or driving extensively in high temperatures - the manufacturers do reduce the allowable time / miles between oil changes.

From Bloomberg this evening:
”How the US Mopped Up a Third of Global Capital Flows Since Covid “
(Excerpt) “In the face of calls around the world to diversify out of the dollar in recent years, the US has nabbed almost one-third of all the investment that flowed across borders since Covid struck. An International Monetary Fund analysis sent by request to Bloomberg News shows that the share of global flows has climbed — not fallen — since a shortage of dollars in 2020 spooked global investors and the 2022 freezing of Russian assets stoked questions about respect for free movement of capital. The pre-pandemic US average share was just 18%, according to the IMF. “
Article by Enda Curran and Saleha Mohsin - Bloomberg Media / June 16, 2024

@msf said, ”If China is doing so well, should one be investing more in China, despite the political risks involved?”
That would be a contrarian bet for sure. All my sources (various financial writers / commentators / pundits) are really down on China as an investment, chiefly because of what they see as deterioriating relations with the U.S. However, in Orwell’s 1984 alliances were constantly shifting - sometimes overnight. So one never knows. And TMWOT the pundits as a group are wrong more often than they are correct on the big issues.