I dread to get into this discussion because derivatives have been and always be a complicated beast. There is listed, Over the counter, and multiple types of instruments. There is the one thing we can see (because its easy) and the 99 things we can't see.
The FT Alphaville had an article:
https://www.ft.com/content/d9b964f0-7cc2-4684-b75d-80f47359d8a5
"JPMorgan blames JPMorgan for suppressed volatility
Once more unto the Vix discourse"
It should be free for those who sign up for FT Alphaville (its a free section of the FT).
Doing a thorough analysis needs something of this sort. One needs to measure (and continuously measure) the evolving greeks from derivatives funds to have any measurable market call.
Maybe its helpful to some...

Thoughtful piece by that title in the WSJ, 3/16-17/2024. One bullish argument for stocks is that there's an ocean of cash "on the sidelines" that might flood the market in the face of a dip.
Telis Demos, writing for the Journal, argues "not so much." Two reasons. First, while money is pouring into money market funds, it seems mostly to be moving from savings or checking accounts with negative real returns (the average yield on sweep accounts is 0.05% he claims, while my credit union is doling out a rich 0.01% on savings) to liquidity fund that are yielding 5% or so.
Second, when the money flows back out of money market funds, it usually flows into income investments rather than equity investments.
(I also suspect that the folks most desperate to buy Nvidia or DJT on a dip are not necessarily folks which huge cash reserves and vice versa, the folks like me who structure a 50% income sleeve into their portfolios are not apt to suddenly become memesters.)
Money markets hold $6.5 trillion currently, up $150 billion in two months. "[A]nalysts at Barclays estimate that ... what appears poised to possibly move into riskier assets is about $400 billion to $600 billion," including both equity and income investments. JP Morgan Chase strategists report that "companies with huge cash piles are still opting to be weighted toward money funds ... S&P 500 nonfinancial companies' cash investment portfolios hit a historical high of57% allocated to cash" at the end of 2023.
See "Market Bulls Won't Get a 'Wall of Cash,'" March 16-17, 2024, p.B12. The article is online but behind a paywall.
Palm Valley Capital Fund continues to putt along with about 80% cash and short bonds which implies that its microcap value stocks have been returning something like 15% a year for the past three years. (I'm assuming a 2% annual returns on the cash portion of the portfolio.) Stocks in the only microcap ETF (First Trust Dow Jones Select MicroCap ETF FDM), which is also value-oriented, 2.92% annually for the same period. Translation: the fully invested microcap ETF returned 2.9% while Palm Valley, with only 20% invested, returned 4.3%.

Covered-call funds, about which Devesh has written a series of essays (two more will appear in our April issue), are artificially and temporarily suppressing volatility, if Charley Grant and the WSJ are to be believed:

The stock market is calmer than it has been in years. Some worry that a popular strategy is contributing to the tranquility.
Measures of market volatility have fallen to levels last seen in 2018 ...
Investors are seeking protection from potential losses by pour money into [covered-call ETFs] ... assets in such funds has topped $67 billion, up from $7 billion at the end of 2020."

Their argument is that this sort of herd trade (in volatility ETFs) "blew up in spectacular fashion six years ago." The options trade now exceed stocks in value, with ever covered-call position necessarily matched over an opposite position in "call overwrites." The concern is that this is a complex, leveraged structure that might be catastrophically vulnerable to an external shock that causes a cascading rush to the exits.
To be clear, Devesh and the Journal are competent to comment on the risks. I'm not. Mostly I wanted to highlight the prospect that your hedges might become your anchors. (See Charley Grant, "Popular bet weighs on volatility," WSJ, 3/26/2024, B1. It's online with a paywall and a slightly different title.)
Curious for them to repeat a story unless their anxiety is growing. (Might call for Zoloft.)

What is the best bond fund total return one can HOPE for in the next twelve months? Assume dividends are irrelevant because they will be reinvested,,, assume low default rate because you have chosen a fund with high quality portfolio. And said fund has a duration of 5.8 years. And let us imagine that in the next twelve months interest rates are cut 1%. More specifically 4 cuts of .25%. So what would be the best possible total return under this scenario? Just wondering.

@BaluBalu. You gave me a good laugh. I'll keep it on the watch list for now.
I'll need some cooperation from Mr. Market before I have more cash to sink into equities for the IRA. And then I'll have to think about whether I want more of the equity sleeve in the larger, and growthier cap boxes. At this point its main competition would be AMAGX if I go larger and growthier or GTSGX if I want to keep the current spread. Or I could just stick with the funds I have already condensed into, as described on the buy, sell, why thread
@yogibearbull, I'm not seeing the turnover history at that link. I see a condensed M* summary of all their share classes.
I have looked at the history of its weight in the M* boxes on the portfolio page.
@raqueteer, AUSF has 245% yearly turnover because of a specific sector rotation type of strategy that makes sense to me for the purpose I bought it for. So I own it for now.
When it comes down to humans saying this stock is something I need to buy, or sell, right this minute, there's Charlie Munger turnover, and then there's Rajiv Jain turnover.
Seems to me that the more often a manager is selling and buying stocks, the more often he has to be right.

Rajiv Jain of GQG uses value conscious growth approach. But unlike the traditional GARP, he combines value portion with momentum portion. Firm only has a handful of funds. Its other funds seems to have reasonable turnovers, but the high turnover for GQEPX may be due to where the US market is now. It may be useful to look at its turnover history.
https://www.morningstar.com/asset-management-companies/gqg-partners-BN00000J55/funds

The $50.00 transfer/extortion fee will be covered by the value of some fractional shares.

You probably know this already, but for anyone else who is not aware: Schwab does reimburse transfer fees. So, this is just a nuisance - no loss.

No, @yugo. I did NOT know that. Good news. How does it appear, then? What should I look for?
*In the BAD news category: my TS ADR holding is "ineligible" for dividend reinvestment. The chat-box agent tried to tell me the reason was with the Exchange. Reinvestment was not available. I cheerfully informed him that ineligibility in this case is a Schwab decision; reinvestment worked fine at TRP.
Is the better HUMAN contact at Schwab, compared to my recent experience at TRP, worth the hassles? The jury is out...

GQG Partners gets a lot of comments here. Them seem favorable. The institutional version of GQEPX frequently turns up in my screens at MFO Premium as a "Great Owl." I have it on a watch list. The expense ratio is reasonable. It's available at Fido; I could add it to my IRA.
So? What's my problem? With GQEPX, that is . . .
The turnover. M* says it's 211%. That's a lot of turnover. So I look at the investment strategy in the prospectus:

the Adviser typically pursues a “growth style” of investing as it seeks to capture market inefficiencies which the Adviser believes are driven by investors’ propensity to be short-sighted and overly focused on quarter-to-quarter price movements rather than on a company’s fundamentals over a longer time horizon (5 years or more). The Adviser believes that this market inefficiency tends to lead investors to underappreciate (sic) the compounding potential of quality, growing companies. To identify this subset of companies, the Adviser generates investment ideas from a variety of sources, ranging from institutional knowledge and industry contacts, to the Adviser’s proprietary screening process that seeks to identify suitable companies based on several quality factors such as rates of return on equity and total capital, margin stability and profitability. Ideas are then subject to rigorous fundamental analysis as the Adviser seeks to identify and invest in companies that it believes reflect higher quality opportunities on a forward-looking basis. Specifically, the Adviser seeks to buy companies that it believes are reasonably priced and have strong fundamental business characteristics and sustainable and durable earnings growth. The Adviser seeks to outperform peers over a full market cycle by seeking to capture market upside while limiting downside risk. For these purposes, a full market cycle can be measured from a point in the market cycle (e.g., a peak or trough) to the corresponding point in the next market cycle

That doesn't read to me like "And the only way we can do all that good stuff is to turn this sucker completely over twice a durn burn year! Yeehaw!"
The strategy reads more like an argument for a sedate rate of turnover to enjoy those "sustainable and durable earnings" over "a full market cycle" with tea and biscuits in an old, well-upholstered leather chair, on a Persian rug, by a crackling fire.
Am I missing something with this? Are we just hoping the team is that good at selling and buying stocks at that pace? And can keep it up over some period of time?

The $50.00 transfer/extortion fee will be covered by the value of some fractional shares.

You probably know this already, but for anyone else who is not aware: Schwab does reimburse transfer fees. So, this is just a nuisance - no loss.

Anyone moving into or adding to LT Treasuries now that the Fed is talking 3 rate decreases this year?

No, still riding my favorites. I want to stay at about 50/50 stocks/bonds. I'll add WCPNX sooner or later. Less risk.

Done.
I had to send a message to TRP to find out just what's what. The reply specified the transfer would be done TONIGHT. The $50.00 transfer/extortion fee will be covered by the value of some fractional shares. Those will not transfer. Any remainder will be sent as cash to Schwab.
Great. There was absolutely nothing about this process which was easy, routine and normal. Jayzuz. Next I'm waiting to hear if a trustee to trustee switch can be made with the Bruce Fund. Don't hold your breath. Looking forward to Purdue vs. Gonzaga on the week-end. "March Madness." Game-watch party here.

One of the things that convinced me to take a flyer on SYLD is their screens only include companies engaged in net share buybacks. Their screens for shareholder yield also include paying down debt.
I tried watching the video, but I find it hard to watch and/or listen to most people that lack any kind of professional experience or training. So I don't know what their complaints with buybacks are.
BTW. I know of two other ETF's, PKW and WTV, playing the buyback theme. Per MFO premium, the debt/equity ratios are .75 for SYLD, 3.06 for WTV, and 3.47 for PKW.

I asked a highly regarded professor of Finance to opine buybacks versus stock based compensation about a year ago. I am quoting him here but not his name. :
Devesh: I came across this article, which is slightly dated:
https://www.pionline.com/article/20170316/ONLINE/170319937/the-s-p-500-s-hidden-828-billion-annual-expenses
If correct, this means a large portion (or most of the buybacks) might just be repurchasing stock issued in comp each year.
Finance Professor:
First, a piece of advice. Don’t believe much that you read (including what I write), especially about buybacks. The mythology on buybacks is staggering, including the claims that they are funded mostly with debt, that they come at the expense of value creating investments and that they are primarily to cover stock-based compensation. The truth is that stock-based compensation is not only a much smaller amount than the buybacks, but the companies that are the biggest buyback players are not the ones where stock compensation is a large percent of expenses. Finally, starting in 2007, stock compensation has shifted away from options (which used to be the primary reason for buying back stock to cover exercise) to restricted stock units (which don’t require these gymnastics). The truth is that the buybacks, for the most part, are cash infusions to investors, and much of that cash gets reinvested back into the market.

You here little about the massive stock buybacks of most companies. The main reason they do it is to avoid dilution from the even more massive option awards that they give their top employees.
SP500 companies spent 2/3s of profits purchasing 2.7% of their market capitalization each year, but only reduced the total share count 0.7% in the last decade.
If you are playing poker for 30 minutes and you can't recognise the patsy, the patsy is you.

https://www.sec.gov/Archives/edgar/data/927972/000110465924038206/tm249166-1_497.htm
497 1 tm249166-1_497.htm 497
​
MASSMUTUAL FUNDS
MassMutual Main Street Fund
Supplement dated March 25, 2024 to the
Prospectus dated February 1, 2024
and the Summary Prospectus dated February 1, 2024
This supplement provides new and additional information beyond that contained in the Prospectus and Summary Prospectus, and any previous supplements. It should be retained and read in conjunction with the Prospectus and Summary Prospectus, and any previous supplements.
The Board of Trustees of the MassMutual Premier Funds has approved a Plan of Liquidation and Termination pursuant to which it is expected that the MassMutual Main Street Fund (the “Fund”) will be dissolved. Effective on or about August 23, 2024 (the “Termination Date”), shareholders of the various classes of shares of the Fund will receive proceeds in proportion to the number of shares of such class held by each of them on the Termination Date.
Please note that prior to the Termination Date, the Fund may hold most or all of its assets in cash or cash equivalents and therefore may not be able to meet its investment objective.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
B3000M-24-02
MS-24-01

New Boeing Board Chair CEO (as noted by @BaluBalu) is an electrical engineer who once ran Qualcomm.
https://www.boeing.com/company/bios/steven-m-mollenkopf-bio
https://boeing.mediaroom.com/2024-03-25-Boeing-Announces-Board-and-Management-Changes

I do not understand all of the Apple haters, which is not to say that they are perfect. However, I am an unabashed Apple lover. In my home, we have iPhones, iPads, Apple TV, Apple Watch, an iCloud account and an old iMac that we no longer use. We seldom have problems with any of these devices. And when we do, the problems are easily fixed by a simple call to the Apple helpline (at no charge.)
Before we bought our first iMac, we used various Windows- based computers that were continually locking up and getting infected with viruses. We had frequent service calls from a computer technician who would visit our house to debug everything and download the latest antivirus fixes. Before actually using the computer, we would have to turn it on and wait 10-15 minutes for all of the antivirus programs to run. Even then, the computer was so slow, and we had to keep updating to more expensive computers with more memory to run all of the software.
We decided to try an Apple computer out of desperation. The Apple salesman told us we shouldn’t be having the problems we were experiencing and that we didn’t need a more powerful computer than an iMac because they were bug-free. I was skeptical but took the bait. He was correct. Our iMac ran flawlessly from the start with never any problems with viruses. When you turn it on, it’s ready to use almost immediately. I never have to download antivirus software.
We were so impressed with the iMac, that we soon got iPhones and iPads. My iPad is so easy and intuitive to use, that it eventually became my computer of choice for nearly everything. It has essentially replaced the iMac, which now gathers dust — not because it’s bad, but because the iPad does everything much easier. I can buy a new iPad when needed for a fraction of the price of a desktop computer, and I can take it on trips, hold it in my lap, take photos with it and my iPhone, etc. All of my Apple products run seamlessly among each other. If I take a photo on my iPhone, I can instantly edit on my iPad if needed.
The iPhone has truly revolutionized communications. It’s not simply a phone, it’s a pocket computer that can also take amazing photos, send messages and emails, browse the internet, read the news, etc. Although expensive, I’ve never doubted its worth. I can truly say that I’ve gotten my money’s worth out of every Apple product that I own.
Much of the Apple hate seems to be driven by jealousy or wannabes. I get it. Number One in anything becomes a target. But let’s not forget that Apple is No. 1 for a reason— actually many, many reasons.
Microsoft users have their fans. They are great products if you are computer savvy enough to keep them running and virus-free. Or if you work in an office with a staff of computer technicians to keep them running. But for my purposes, it’s Apple all the way.

@Charles, thanks. Here is my experience after the latest MFO Premium update.
Background - Yesterday (3/24/24), I had manually changed all old TIAA/CREF IF-xxxx tickers to Qxxxxx except the 2 residuals QCBMP (CREF Bond R2) and IF-SMZQ (TIAA REA).
Today (3/25/24):
1. It required a MANUAL change of QCBMP (CREF Bond R2) to QCBMPX. But on Save, it also AUTO-changed all references of old IF-SMZQ (TIAA REA) to new QREARX. So, the AUTO-substitution logic for old TIAA/CREF IF-xxxx to new Qxxxxx seems to be working.
But users should be aware that a WARNING screen may open up listing all affected saved portfolio by the update that will be overwritten and the choices are to Overwrite or Cancel. Users may be surprised by this (especially for their saved portfolios that they didn't touch) but should select Overwrite option.
Portfolios and Multisearch just won't run now with old IF-xxxx tickers (a lone exception is IF-BZKF for CREF Equity Index, but its Qxxxxx tickers transitioned fine). The changes aren't dynamic or real-time, but one-time to Overwrite.
2. As for the minor issue with trying to run several classes (R3, R2, R1) of CREF Stock - QCSTIX QCSTPX QCSTRX, it's the same and I understand @Charles' explanation:
It runs under Portfolio.
It doesn't run under Watchlist default (with Basic Info).
It runs under Watchlist with ALL Classes checked in More Basic Info.
3. I will look around for OTHER Qxxxxx tickers. Many are recognized by Yahoo Finance, M* Investor, Nasdaq, Stockcharts (few), but one has to know them. Not all VAs have Qxxxxx tickers. I don't know if Nasdaq would provide a list of all supported 6-character Qxxxxx tickers.
Of course, Multisearch pulls up VAs with IF-xxxx tickers from Fidelity, Transamerica, T Rowe Price, Vanguard, etc (and of course, TIAA/CREF, but that is done now), but I don't see an easy way to find which have Qxxxxx tickers. Reverse lookup from Qxxxxx to VA Names to IF-xxxx seems a manually laborious process. I think only Lipper may do something about this if/when it upgrades its system to recognize the 6-character Qxxxxx tickers.

A minor issue is that the following list (for CREF Stock) runs fine under Portfolio, but not under Watchlist.
QCSTIX QCSTPX QCSTRX
Each ticker runs fine individually under the Watchlist, but defaults to QCSTIX.
The previous list ran fine under both, but of course, those are gone now,
IF-CBMF IF-CMP5 IF-CMP6
Problem may be that in the Q-version, these 3 tickers are recognized as classes of the same VA/fund, and MFO may be complaining why run 3 classes simultaneously. This wasn't a problem with the old IF-tickers.
A workout is just to use More Basic Info - All Classes and then the list runs properly. (BTW, the interim instructions need to be adjusted to indicate that All Classes option is within More Basic Info, not Basic Info.