Where at Schwab can you find the summary report? I just looked for PVCMX and cannot find any analysis
Not that it is worth anything . ChatGPT pans PVCMS saying they have a "unseasoned portfolio mangers" ( Really!!! If you know how you can dig around and find they have been managing money since 1993) and unreasonable fees ( ER total - 1.15%)

Initiated starter position in Liberty Broadband Corporation's Series A preferreds (LBRDP) $ 22.50 as a long-term income holding.

Took a peek at EL. Late to the party already ! Low on 10/31 $104.5 up 37+% at $145.

@yogibb said, I have noted elsewhere that FBALX is among the more aggressive moderate-allocation funds (nominal 50-70%). This shows in its higher volatility and higher effective-equity.

FBALX is actively managed and tracks Vanguard Balanced Index fund and with heavier weighing in the tech %. This alone contributed to better performance. I prefer the more conservative, FMSDX, whose manager has running the fund for well over 10 years. Other than a handful of funds such as Contra and Low Priced Stocks, many Fidelity funds have high turnover on their managers. I agree with M* rating based on the mutual fund track record of the manager(s) tenure. The forward performance becomes less relevant whenever there is new management.
@MikeM, I also like PRCFX for a different reason; really like to explore the bond strategy of this new fund. @msf posted information on a SMA managed by Farris Shuggi. I think there are good opportunities on bonds next year.

I noticed a small drug company stock a few weeks ago that I was going to take a flyer on but got tied up with end-of-semester stuff and didn't have the time to put my order in. This past week, it's been up 5-15% every day (incl during premarkets0 and nearly doubled since i noticed it in mid-December.

Makes sports betting look tame by comparison. :)
I’d guess money is there to be made by folks willing to (1) do the research (2) invest an awful lot of time & effort into trading a basket of those stocks and (3) having the courage of their conviction / being able to add more $$ or sit tight when something falls further. (Who needs it?)
My 10% in individual stocks is split among (1) a mega-dollar international food conglomerate, (2) a large U.S. drug / grocery retailer and (3) a large insurance co. / equity conglomerate (not BRK). The latter replaced a small cap conglomerate which has only continued to rise since I sold a few weeks ago.
I tried exiting all individual stocks for a couple days back in Oct. or Nov. The withdrawal symptoms proved too great …

After pulling out significantly from of my Schwab robo earlier this year, I've been adding most of that money back into balanced funds, both conservative and moderate. The "balanced-funds-are-broken" mantra, I thought, was always a dumb knee jerk reaction by the media.
I already have about 20% of my self managed portfolio in PRWCX, but that fund sits in a 401k account that I can't add to. For that reason I recently added PRCFX (10% of total). I bought the manager and investment process and I'm fine with the more conservative equity/income weighting. I also added a chunk to LCR (Leuthold Core ETF) back in the summer and most recently to CGBL (Capital Group Core Balanced ETF) 5% each.

I checked and omission of FBALX from the list wasn't accidental. The list included only Gold, Silver, Bronze rated funds. M* downgraded FBALX to Neutral (from Bronze) in 2019, a long time ago!
Looking at M* Reports in the Archives, M*'s issue is lots of portfolio manager changes. Fund has a large list of PMs (11; it's almost a holding pool of Fido managers that didn't succeed with their own funds, but Fido likes to keep them) and someone is always coming or going. Now, the lead manager has also changed.
FBALX 5* Rating means that it has performed well in the group, but the Analyst Rating of Neutral shows M*'s skepticism. I have noted elsewhere that FBALX is among the more aggressive moderate-allocation funds (nominal 50-70%). This shows in its higher volatility and higher effective-equity.
It's a good moderate-allocation fund. M* ratings/evaluations should count only in the initial fund screening. But if you have done due diligence and know what you own, you should be comfortable with your decisions.

You first @Derf. Let us know how it works out.
Healthcare’s had a tough ride in ‘23. Something I’ve never been interested in from an investing standpoint. Potential for litigation issues alone make them too dicey for me. And I’ve witnessed enough tech high-wire acts and steep plunges in my life not to want to buy a tech company. (As part of a broadly diversified fund I’d have no objection.)
Next thing - you’ll be looking at the ”steep underdog” sports betting opportunities on DKNG!
BTW - The “guru”s on Bloomberg are all over the place this morning advising investors to begin transitioning from cash into equities - now that the S&P’s gained about 30% off its recent lows. Never fails!

Yeah, really. I noticed a small drug company stock a few weeks ago that I was going to take a flyer on but got tied up with end-of-semester stuff and didn't have the time to put my order in. This past week, it's been up 5-15% every day (incl during premarkets0 and nearly doubled since i noticed it in mid-December. While I'm sure it will be a long-term winner given the drug sector it's in, I'm definitely not chasing it.
That said, I'm still putting $$ to work on QDI stocks, preferred stocks, and my first ever purchase in the BDC space.

M* continues to slight FBALX, one of the top performing balanced funds over every time period. Yet they promote TRPBX, a mediocre fund at best. I owned both for many years (until I moved funds from TRPBX to FBALX this year), and FBALX has greatly outperformed TRPBX over the past 1, 3, 5, 10, 15 years with slightly higher volatility.

2023 year-to-date
Company Ticker % ch. year-to-date Market value loss ($ billion) Sector
Pfizer (PFE) -44.6% -$128.9 Health Care
Chevron (CVX) -15.9% -$53.7 Energy
Johnson & Johnson (JNJ) -12.0% -$51.0 Health Care
NextEra Energy (NEE) -28.5% -$48.9 Utilities
Bristol-Myers Squibb (BMY) -27.4% -$40.1 Health Care
Estee Lauder (EL) -41.8% -$37.1 Consumer Staples
Exxon Mobil (XOM) -7.6% -$33.5 Energy
Moderna (MRNA) -47.2% -$32.3 Health Care

Covered are the US (up to 10% foreign), diversified (11-39% foreign), and global ( >= 40% foreign) moderate/global allocation/balanced funds. Excluded are Multi-Asset funds (M* calls them "supporting"; it's not a M* Category yet) and the TDFs (with glide-path allocations).
https://www.morningstar.com/funds/best-balanced-funds
"After suffering one of their worst downfalls on record in 2022, balanced funds bounced back in 2023. The Morningstar US Moderate Target Allocation Index, which resembles a typical diversified balanced fund, gained more than 15% for the year to date through mid-December, and despite continued pessimism from some market observers, the outlook isn’t as grim as some soothsayers say....."

More info on Vanguard ETF reinvestments.
Now I have 5 ETFs in my VG Brokerage a/c. My default is to reinvest when this option is available. So, it is interesting that VG is handling them differently.
ETF, Reinvestment, When Done?
ICSH, ON, Pay Date
USFR, ON, Pay Date
CEFS, ON, Pay Date
PYLD, ON, Not done (too new?) (div stays in core VMFXX)
TCAF, option NA, NA (too new?) (div stays in core VMFXX)
When the VG reinvestment works as intended, the money doesn't flow through core VMFXX, but is directly aggregated and reinvested via a market-order on the Pay Date.

am interested in knowing why the new PRCFX would be appealing to existing long-tenured PRWCX holders.
A. most importantly, it does not seem giroux will be using this unique time to go into small-mid cap space, given the very low ~$25M AUM. everything indicates they will want to re-use research & tradedesk effort already being put into PRWCX, which means more of the same LC growth.
B. there does not seem to be the allocation to international which PRWCX has latitude\mandate. (PRCFX showing 100% domestic as of 20nov2023)
https://troweprice.com/personal-investing/tools/fund-research/PRCFX
C. the equity mix seems similar (both min. 50% aspiration).
d. slightly smaller expenses, which is more like the PRWCX institutional version.

International value funds I own, MOWNX, BISMX,COBYX (heavily invested in Latin America) have beaten the SP500 in last three years with lower drawdowns. CCISX also but with equal loss in 9/2022. Typical Emerging market funds ( SIGIX GQGPX) have not done as well, although it appears they have beaten their peers. I would look for funds that are well run, invest in areas off the beaten path and have lower correlations with the US.

TwitterLINK
"boaz weinstein
@boazweinstein
!!
Saba Capital Reaches Agreement with Certain ClearBridge Funds
ClearBridge MLP and Midstream Fund, ClearBridge MLP and Midstream Total Return Fund, and ClearBridge Energy Midstream Opportunity Fund to Each Commence Cash Tender Offers for 50% of Their Shares at 100% of NAV"
YBB Note.
www.clearbridge.com/
Not to be confused with CrossingBridge www.crossingbridgefunds.com/

Thanks, @Sven.
EM can definitely be risky!
My top contender in the EM equity category is SIVLX.
As you mentioned, Seafarer has an experienced management team
and SIVLX provides a "smoother ride" than most EM equity funds.
You're fortunate to be invested in ARTKX.
The fund generated excellent long-term returns within Foreign Large Blend (10-Year: top 4%; 15-Year: top 2%).
I'm considering ARDBX which uses the same investment process as ARTKX applied to foreign small-caps.
David Samra is a Managing Director for ARDBX although he is not responsible for daily fund operations.

@MikwM, the institutional shares, RSIIX, is on NTF platform at Vanguard, whereas it is on Transaction Fee platform at Fidelity. The minimum investment was lowered to $5K, and I have been adding. YTD total return is over 9% with 30 days SEC yield 9.2%. If you wish to stay with Fidelity and you will pay $50 to get into RSIIX. Remember that you add more later for $5 each trade using their “automatic investment” feature. Fidelity requires you to do two consecutive buys, but you can cancel the second one before the buy date. Learn this from @msf awhile back.
https://investor.vanguard.com/investment-products/mutual-funds/profile/rsiix.
Each brokerage have their own policy on buying and selling OEFs, so it pays to check out their difference. Vanguard offers fewer number of funds than Schwab and Fidelity, sometimes you can get into institutional shares with less than $1 million. We invest with PIMIX that requires $25K.

The page yogi cited contains this image of a book:

That image says 2023 Edition. It also has a link embedded taking you to more information about the book including: "2023 edition published May 2023". So the cited page most likely dates from May 2023 or later.
Evidence supporting this thesis is that in March 2023 the page was different. So the page was changed no earlier than March 2023.

A popular misconception is that the stock market goes up most (~70%) of the time.
That's correct on an annual basis. And the odds get even better over longer periods of time.

Source: https://www.capitalgroup.com/individual/planning/investing-fundamentals/time-not-timing-is-what-matters.html
But on a day to day basis, the odds are barely better than break even that the market will go up:

Source: https://www.financialsamurai.com/average-daily-percent-move-of-the-stock-market/
This is why I am somewhat obsessive about doing same day exchanges. I invest for the long term and am willing to put my faith in the market going up over a period of years. I do not accept exposure to daily random fluctuations.