MGOIX is classified as an intermediate core bond fund by M*. However, it's 93% taxable munis, which is not a mix you see all the time.
I ended up buying a slice just to take a little risk on longer duration. The IRA is still under two years overall.
According to MFO P, the correlation of MGOIX to VOO is .25 over the life of the youngest fund. MFO P defaults to MGAVX, which is the oldest share class.
Needless to add that this is not a recommendation. It's only about 6% of my IRA.

The Week in Charts (11/10/25)
The most important charts and themes in markets and investing...
00:00 Intro
00:19 Topics
01:18 Why Is Buffett Holding So Much Cash?
05:18 The Longest Shutdown in History Is About to End
08:09 The Highest Beat Rate Since 2021
11:12 Job Cuts Spike in Red October
16:21 Consumer Sentiment Nears Record Lows
22:11 Delaying the American Dream
27:30 No Recession in 2025
Video
Blog

NYT Shareable Article
"With little public scrutiny, the Trump administration is handing out hundreds of billions of dollars in tax cuts to some of the country’s most profitable companies and wealthiest investors.
The Treasury Department and Internal Revenue Service, through a series of new notices and proposed regulations, are giving breaks to giant private equity firms, crypto companies, foreign real estate investors, insurance providers and a variety of multinational corporations.
The primary target: The administration is rapidly gutting a 2022 law intended to ensure that a sliver of the country’s most profitable corporations pay at least some federal income tax. The provision, the corporate alternative minimum tax, was passed by Democrats and signed into law by President Joseph R. Biden Jr. It sought to stop corporations like Microsoft, Amazon and Johnson & Johnson from being able to report big profits to shareholders yet low tax liabilities to the federal government. It was projected to raise $222 billion over a decade.
But the succession of notices the Treasury and I.R.S. have issued beginning this summer means the tax could bring in a fraction of that."

https://www.morningstar.com/funds/which-funds-are-paying-out-big-distributions
#1- RDVIX 82.7%
#50 - PRMTX 17.1%
Then follows a LONG list of fund families with funds with notable CG distributions.

PIMCO ETFs
https://www.pimco.com/us/en/documents/912581e3-a5ef-40bc-a876-9d08a2a18add?id=2038511334689

@stayCalm - QDSNX $2,500 minimum vs QDSIX $5mill minimum. Same great taste, less filling. Just didn’t have enough in my couch cushions.

https://www.sec.gov/Archives/edgar/data/924727/000110465925110267/tm2530350d1_485apos.htm
Excerpt from filing:
The Fund will acquire the assets and liabilities of the FPA Queens Road Value Fund (the “Predecessor Fund”), a series of Investment Managers Series Trust III, through the reorganization of the Predecessor Fund into the Fund, which is expected to occur on [ ], 2026 (the “Reorganization”). As a result of the Reorganization, the Fund will be the accounting and performance successor of the Predecessor Fund.
The returns presented for the periods prior to July 28, 2023, reflect the performance of the FPA Queens Road Value Fund (the “Value Fund”), which was a series of Bragg Capital Trust and reorganized into the Predecessor Fund on July 28, 2023. As a result of this reorganization, the Predecessor Fund adopted the accounting and performance history of the Value Fund.

https://www.sec.gov/Archives/edgar/data/874964/000093041325003441/c114414_497.htm
497 1 c114414_497.htm
THE LAZARD FUNDS, INC.
Lazard Global Equity Select Portfolio
Supplement to Current Summary Prospectus and Prospectus
The Board of Directors of The Lazard Funds, Inc. (the “Fund”) has approved the liquidation of Lazard Global Equity Select Portfolio (the “Portfolio”).
No further investments are being accepted into the Portfolio, except for investments by certain brokers or other financial intermediaries or employee benefit or retirement plans (acting on behalf of their clients or participants) with pre-existing investments in the Portfolio pursuant to an agreement or other arrangement with the Fund, the Distributor or another agent of the Fund regarding Portfolio investments. Promptly upon completion of liquidation of the Portfolio’s investments, the Portfolio will redeem all its outstanding shares by distribution of its assets to shareholders in amounts equal to the net asset value of each shareholder’s Portfolio investment. It is anticipated that the Portfolio’s assets will be distributed to shareholders on or about December 30, 2025.
Prior to the liquidation of the Portfolio, depending on the arrangements of any broker or other financial intermediary associated with your account through which Portfolio shares are held, the Fund’s exchange privilege may allow you to exchange shares of the Portfolio for shares of the same Class of another series of the Fund in an identically registered account. Please see the section of the Prospectus entitled “Shareholder Information—Investor Services—Exchange Privilege” for more information.
Dated: November 13, 2025
Please retain this supplement for future reference.

To force typewriter-like WYSIWYG formatting, surround the text with <PRE> and </PRE>. Then whitespace won't collapse and tabs will be treated as tabs. The only trick needed is to get the right number of tabs (or whitespaces) in each spot so things space out correctly.
The <CODE> tag you tried doesn't respect whitespace, i.e. sequential whitespace is still collapsed into a single whitespace as in the default rendering of HTML. And your attempt to space the display, while it looks great in the editor, comes out differently with monospace ("typwriter") font.
In the end, the data is more important than the presentation. (Thank you for the numbers.) With basically just a fund name and a dollar amount on each line, the table was already readable.

		Fund			   Value
Vanguard Institutional Index		$221,250,199
Vanguard Developed Markets Index Instl	 $83,722,284
Vanguard Total Bond Market Index	 $71,995,591
Vanguard Small Cap Index Instl 		 $70,044,449
Personal Choice Retirement 		 $67,962,323
Harbor Capital Appreciation 		 $44,636,465
Primecap Odyssey Aggr Growth		 $36,342,335
Vanguard FTSE Social Index		 $32,061,017
Vanguard Emrg Mkts Index Adm 		 $30,301,024
Vanguard Selected Value			 $28,262,985
Washington Mutual Fund R6		 $27,567,856
American Funds New World R6 		 $26,086,153
Dodge & Cox International Stock		 $25,466,788
Pimco Total Return Fund Cl A 		 $24,645,158
Oakmark Select Investor			 $21,042,844
Vanguard Intl Growth Admiral		 $20,605,184
PIMCO Real Return Fund Instl		 $20,450,560
Vanguard Target Retiremnt 2040		 $18,932,495
T. Rowe Price Stable Value Com Trust A	 $18,533,530
Vanguard Real Estate Inx Instl		 $17,500,289
Dodge & Cox Global Bond Fund 		 $17,214,377
Royce Special Equity Svc		 $13,314,096
PIMCO Commodity Real Ret Instl		 $11,423,605
Vanguard Target Retiremnt 2050		 $11,124,375
Vanguard Fed Money Market Fund		  $9,010,788
T Rowe Price High Yield 		  $7,981,306
Vanguard Target Retiremnt 2060		  $7,417,153
Loomis Sayles Bond Fund			  $7,338,851
Wasatch Small Cap Growth Fund		  $6,467,915
Vanguard Target Retiremnt 2030		  $5,930,256
Invesco Developing Markets R5		  $4,460,437
DFA International Small Company 	  $4,349,683
Vanguard Target Retiremnt 2045		  $1,642,105
Vanguard Target Retmt Income 		  $1,235,913
Personal Choice Retirement 2 	          $1,169,885
Vanguard Target Retiremnt 2035		    $806,421
Vanguard Target Retiremnt 2020		    $610,899
Vanguard Target Retiremnt 2055		    $169,980
Vanguard Target Retiremnt 2070		     $47,081
Vanguard Target Retiremnt 2065 		     $29,131
Vanguard Target Retiremnt 2025 		     $15,360
* Cash Cash				      $3,235

Good clip. @Level5 why QDSNX?

our health insurance is provided through the City of San Francisco contract with Blue Cross of California.
I sort of guessed that from your description of SF insurance company changes. For additional "fun", take a look at how NYC has been trying to change its retirees coverage for years. If you're not experiencing the plan yourself, it's hard to understand the current plan let alone the replacement plan. ISTM that both sides (city and retirees, with unions in the middle) are hyperventilating, exaggerating the problems with the other side. For the moment the status is: no change.
https://www.thecity.nyc/2025/06/20/medicare-advantage-unions-eric-adams/

ISTM Munger & Buffett always liked to shift more into cash when markets seemed frothy. A form of timing.
By all accounts Berkshire’s cash stash is at a record high today. That’s in nominal dollar terms. As a percentage of AUM it might not be a record.
I don’t imagine anyone mentioned that investment approaches / attitudes relative to market timing would likely be a lot different for a 25 year old dollar-averaging in during his / her second year on a career path than for a recently retired 60 year old or an 80 year old great granddad should he be fortunate enough to be alive, in good health and have a sum invested.

For someone who is 70, 80, 90, or 100, especially if their health isn’t great, receiving calls and bills from the hospital, even though they are not legally responsible for payment, can be confusing, frustrating, and stressful.
True enough. Sometimes knowing some magic words can help. A few years ago I helped someone who was billed an extra $1/2M by a standby surgeon. I suggested that they ask the surgeon's office for papers where the patient signed off on the potential charges. Otherwise the patient would file a balance billing complaint. That seemed to do the trick - the surgeon's office went silent.
Nevertheless it still creates a lot of stress for the person who thinks they are on the hook or is getting hounded for something they know they don't owe.
Let's say that you choose a financially unstable insurer that offers a low premium for a Medigap Plan N policy to attract business. A year later, on your birthday, the insurer sharply increases premiums, perhaps by 50%, to cover losses, well above what a highly rated, stable insurer charges.
This is a good example of where I see similarities between selecting investments and selecting insurers. Either way, you can pay up a bit for peace of mind: higher premiums to established insurer for more stable rates; lower return asset class for less volatility.
In some states, there are state regulators that watch out for rate manipulation and protect residents. Georgia does not seem to be among them.

State insurance departments review and approve all Medigap rate increase requests, but approval standards vary dramatically between states. California requires extensive justification for increases above 10%, while states like Florida approve most reasonable requests without extensive review. Some states like New York prohibit age-based increases entirely, while others allow companies to implement both inflation and age-related adjustments simultaneously. These regulatory differences explain why identical Medigap plans from the same company can have completely different rate increase patterns based on your location.

https://davesilverinsurance.com/how-to-compare-medigap-insurance-rate-increases/

in case you were wondering how the 401k was currently allocated:
Fund Value
Vanguard Institutional Index $221,250,199
Vanguard Developed Markets Index Instl $83,722,284
Vanguard Total Bond Market Index $71,995,591
Vanguard Small Cap Index Instl $70,044,449
Personal Choice Retirement $67,962,323
Harbor Capital Appreciation $44,636,465
Primecap Odyssey Aggr Growth $36,342,335
Vanguard FTSE Social Index $32,061,017
Vanguard Emrg Mkts Index Adm $30,301,024
Vanguard Selected Value $28,262,985
Washington Mutual Fund R6 $27,567,856
American Funds New World R6 $26,086,153
Dodge & Cox International Stock $25,466,788
Pimco Total Return Fund Cl A $24,645,158
Oakmark Select Investor $21,042,844
Vanguard Intl Growth Admiral $20,605,184
PIMCO Real Return Fund Instl $20,450,560
Vanguard Target Retiremnt 2040 $18,932,495
T. Rowe Price Stable Value Com Trust A $18,533,530
Vanguard Real Estate Inx Instl $17,500,289
Dodge & Cox Global Bond Fund $17,214,377
Royce Special Equity Svc $13,314,096
PIMCO Commodity Real Ret Instl $11,423,605
Vanguard Target Retiremnt 2050 $11,124,375
Vanguard Fed Money Market Fund $9,010,788
T Rowe Price High Yield $7,981,306
Vanguard Target Retiremnt 2060 $7,417,153
Loomis Sayles Bond Fund $7,338,851
Wasatch Small Cap Growth Fund $6,467,915
Vanguard Target Retiremnt 2030 $5,930,256
Invesco Developing Markets R5 $4,460,437
DFA International Small Company $4,349,683
Vanguard Target Retiremnt 2045 $1,642,105
Vanguard Target Retmt Income $1,235,913
Personal Choice Retirement 2 $1,169,885
Vanguard Target Retiremnt 2035 $806,421
Vanguard Target Retiremnt 2020 $610,899
Vanguard Target Retiremnt 2055 $169,980
Vanguard Target Retiremnt 2070 $47,081
Vanguard Target Retiremnt 2065 $29,131
Vanguard Target Retiremnt 2025 $15,360
* Cash Cash $3,235

Just when I was seriously interested in QDSIX, I found it available at Vanguard for…$5M. Sheesh!
Edit: oh wait, there’s QDSNX.

@msf Over the past few years, I have tried to track the pricing of community rated, issue age rated, and attained age rated Medigap Plan N policies, but I haven’t found any pattern I can understand. It seems nearly impossible to determine definitive reasons for the differences in pricing.
For example, I have a friend on Medigap Plan N who is 70 years old. For most of 2025, she paid $116 per month. Recently, Aetna announced a new premium of $142, a 22.5% increase. After going through underwriting, she was able to switch to Cigna for $114 per month.
You wrote:
"True it can even be annoying to have to wait months for the EOBs to arrive. Other than that, what difference does the quality of the Medigap insurer make? They don't determine whether a service is covered. Medicare does that. They just fill in the gaps."
For someone who is 70, 80, 90, or 100, especially if their health isn’t great, receiving calls and bills from the hospital, even though they are not legally responsible for payment, can be confusing, frustrating, and stressful.
Let's say that you choose a financially unstable insurer that offers a low premium for a Medigap Plan N policy to attract business. A year later, on your birthday, the insurer sharply increases premiums, perhaps by 50%, to cover losses, well above what a highly rated, stable insurer charges. If you’ve had high medical usage or are in poor health, you may not be able to pass underwriting with another insurer for a Medigap Plan N. What options do you have then?
Of course, this isn’t to suggest it couldn’t happen with a financially stable insurer (as my Aetna Plan N example shows), but it is likely less common.

SENTIMENT & MARKET INDICATORS, 11/12/25
AAII Bull-Bear Spread -17.5% (very low)
CNN Fear & Greed Index 34 (fear)
NYSE %Above 50-dMA 48.58% (negative)
SP500 %Above 50-dMA 52.20% (positive)
These are contrarian indicators.
INVESTOR CONCERNS: Budget, debt, tariffs, inflation, jobs, Fed, dollar, recession, geopolitical, Russia-Ukraine (193+ weeks), Israel-Hamas (67+27 weeks; fragile peace).
For the Survey week (Th-Wed), stocks mixed (cyclicals up, growth down), bonds up, oil down, gold up, dollar down.
Supremes are handling several cases involving Administration. The longest DC shutdown has ended. Yearend reminders: TLH, RMDs, QCDs, donations, 529 transactions, 401k/403b contributions, Roth Conversions, gifts, tax w/h.
#AAII #CNN #Sentiment
https://ybbpersonalfinance.proboards.com/post/2300/thread

Recent interview with AQR boss Asness

I just won top ranking in 15 year ranking list from Hulbert Market Timing. I sold some stocks in April 2000 and April 2025. Oh, I won the worst market timer award.
My return was 8%, against 15% from SP500. Could be driving a Ferrari in many colors if I just kept 100% in SP500.
If I just left it TQQQ with 42% annual return, I’d have my own jet airplane - a little used Gulfstream 5.
$1,000 a month in TQQQ for last 15 years would have cost $190,000, but ending value of $22M. If I didn’t waste my money on Starbucks lattes and Avacado Toast…$22M…