Funds mentioned GSIMX, GQGIX.
https://www.morningstar.com/articles/1149456/a-growth-fund-without-tech-stocks
More at GQG Website https://gqgpartners.com/

Or perhaps poor management. Walmart put up with losses there for 17 years, since day one, and then gave just five days notice before shutting down the stores. Not an indication of good planning skills, and certainly not good public relations. Not to mention running afoul of federal and state laws requiring months of advance notice.
The Honolulu closing was announced a month in advance. While longer, that might also be in violation of federal law, given that the shutdown affects 169 workers there.
https://www.kitv.com/news/business/walmart-store-in-downtown-honolulu-closing-in-april/article_fd2a9b04-c83f-11ed-89da-43bbf9638632.html
The issue in Chicago is not the loss of a retailer, but of supermarkets in food deserts.
https://www.businessinsider.com/walmart-closing-chicago-stores-sparks-outrage-2023-4
While there are other nearby retailers in Honolulu (per @Crash), apparently there aren't any remaining large retailers downtown. How does this affect residents who don't drive?

Closure of last big downtown retailer, Walmart, prompts fears
First the downtown Walgreens closed about a year ago, followed six months later by the shuttering of the neighborhood Longs, and now the last major retailer, Walmart, plans to shut its doors after April 21

https://howzitkohala.com/2023/03/22/closure-of-last-big-downtown-retailer-walmart-prompts-fears/
(The full piece is from the Honolulu Star Advertiser behind a paywall.)

The Journal of Accountancy article from 1997 isn't relevant in today's world especially after the rise of crowdfunded CRE following the JOBS Act in the 2010's.
Private CRE is not the right vehicle if liquidity is paramount but the major pro is being protected from "risk off" behavior during panic in the public markers. In general(certainly not always) private CRE offers higher tax advantaged yields(due to depreciation and 1031 exchange) and higher IRR than public REIT's.

Dollar remains key for PMs.
https://stockcharts.com/h-perf/ui?s=GDX&compare=GDXJ,UUP,GLD,SLV&id=p49896375419

@Sven and @LouisBraham - Thanks for your knowledgeable comments. I agree with you both to the point of saying that absolutist views on financial matters can be counterproductive and destructive of wealth and that they may blind one to potential opportunities. I really shouldn’t have cited what amounted to an “off-the-cuff” remark taken out of context from another forum. In that form it sheds no real light on the subject. My bad.
My intent was to augment @Old_Joe’s stated aversion to bond funds by extending his argument to an extreme absolutist viewpoint and thereby add a touch of good humor to the discussion. Anyone who reads my posts knows that I find a role for bond funds in a diversified portfolio and that I do not conform to or endorse the position a brief snipped pulled out of context elsewhere appears to support.
While we’re on the subject of bond funds: (1) One really shouldn’t throw all bond funds into one hopper and treat them the same. These vary in duration from ultra-short all the way out to long term treasuries. Credit quality and geographic location also vary greatly. (2) I suspect that some who disparage bond funds today are viewing them through a near-term distorted lens. Had you looked at performance charts prior to 2022 the 10-15 year returns would have looked much better.

AAII Sentiment Survey, 4/12/23
For the week ending on 4/12/23, neutral became the top sentiment (39.5%; above average) & bullish became the bottom sentiment (26.1%; low); bearish became the middle sentiment (34.5%; above average); Bull-Bear Spread was -8.4% (below average). Investor concerns: Inflation (moderating but high); economy; the Fed; dollar; cryptos; market volatility (VIX, VXN, MOVE); Russia-Ukraine war (59+ weeks, 2/24/22- ); geopolitical. For the Survey week (Th-Wed), stocks were mixed (cyclicals up, growth & tech down), bonds down, oil up, gold down, dollar down. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/thread/141/aaii-sentiment-survey-weekly?page=9&scrollTo=1007

Vanguard charges $20 per trade for TF funds.
Investors with $1M - $5M in eligible funds can execute 25 trades gratis per calendar year.
Fidelity charges $49.95 to buy TF funds but there are no fees to sell.
It appears the $5 automatic investment option (after initial investment) at Fidelity may be available for ARDBX.
Interested parties should probably contact Fidelity to confirm this is correct.

A couple of clarifications (perhaps):
- The termsheet that Shadow provided says that minimum additional investments are $5K, but doesn't say that these additional investments are required or that they can only be made on a monthly schedule.
- The 3 years before redemptions are allowed start when the initial offering is closed (as opposed to when operations begin). The Form D filing says that the initial offering is expected to remain open for more than a year. So it could be much longer than three years before one could get one's money out.
@sma3 - are you referring to the Tax Reform Act (TRA) of 1986?

ONCE TOUTED AS THE INVESTMENT vehicle of the future, limited partnerships are seldom pitched to investors today. Instead, clients and the CPAs who advise them are looking back at the tax and financial factors that contributed to the downfall of LPs in areas such as oil and gas, real estate and equipment leasing.
...
THE TAX REFORM ACT OF 1986, combined with increased Internal Revenue Service audit scrutiny spelled the beginning of the end for tax-oriented LPs. Extension of the at-risk limitations to real estate tax shelters and the passive loss provisions in the TRA [reducing the ability of individual taxpayers to offset income with losses from tax shelters] gave the IRS the weapons it needed.

Journal of Accountancy, What Happened to Limited Partnerships?
https://www.journalofaccountancy.com/issues/1997/jul/knight.html

@msf Yes, my 2021 taxes are in the same quagmire as your deceased mother's. Last month, I finally was told by the call center representative that it is not even assigned to a processor yet. The 2022, however, went smoothly through the system even though he died in 2022 and not in 2021. They told me they need to use manual processing for 2021 and issue a snail mail check. I told them if they had processed it timely, he would have been alive when they issued the refund; so, they, not his death, was the source of the problem. The requested direct deposit account for 2021 was the same one they deposited the 2022 refund into, no problem.
(Actually, I feel sorry for the people who work for the IRS right now.)

@LewisBraham: I agree, it’s not a core international fund. What I am using now is a combination of DIVI, MOTI and FNDF, as no one international fund seems to check all the boxes. I remember a discussion here about how long Artisan seemed to be taking to get the new fund introduced after the new team members were hired. Prudent planning may be paying off. DIVI, open since 2016, changed indexes fairly recently and now follows the Morningstar Developed Markets ex-North America Target Market Exposure Index-NR.

I saw that one
FYI for all the opponents of the increased IRS budget, please remember that the chaos the GOP IRS budget cuts have caused has direct and significant negative impacts on average Americans.
My sisters and I are waiting for my deceased mother's refund ( $20,000) from her 2020 and 2021 taxes. She died over two years ago and we were required to file on paper.
I have called the IRS several times and have gotten conflicting advice about what to do. During the last call ( which takes hours) a very competent man confirmed they had the returns but they have to be processed by hand. He cold not tell me how long it would take, but wanted to make sure that this was not causing us significant financial distress.
What if we needed the money? Of course when we get it, it will not be paid with interest.

Bloomberg has great article on chaos at IRS but behind their paywall.
The Washington Post has a great op-ed along with pictures about how archaic the IRS system is (dating back to the 1970s, though they do have a computer running Windows XP). I believe that one can read a limited number of WP articles for free.

As of July 29, the IRS had a backlog of 10.2 million unprocessed individual returns. Blame the pandemic, sure, but also the agency’s embarrassingly outdated, paper-based system, which leaves stacks and stacks of returns cluttering shelves, hallways and even the cafeteria.

https://www.washingtonpost.com/opinions/interactive/2022/irs-pipeline-tax-return-delays/

Just found this:
https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/alt-new/pdf/core-real-estate-trust-fund-1-termsheet.pdf

I have owned VWIGX for 30 years and 2 months. Annual returns over that period work out to 6.91. Can't say I'm excited about it. But it does show what a small investment can turn into over 30 years. And someday it will be the kids' problem.
Within the past couple of years I purchased IHDG and FYLD for their yield. They held up better than VWIGX during the recent excitement. But neither has a long track record.
So far, I haven't had to tap either for yield. So far, I am happy with them.

I think if I were comparing and trying to value two houses to potentially purchase, one with an HOA and one without, I would subtract at least an extra 10% discount to my valuation estimate of the HOA one and call it the "BS Factor Discount."

I have decided the agony of paper filings is not worth the difference in possible performance for PHYS, vs other funds in taxable account. Since I have to file on paper anyway for 2023, and I have a gain I will wait until either gold drops a bit and sell for a loss, or sell higher late in the year.
The IRS regs say if you dont file 8621, they can claw back your entire gain and then some. If I have a loss, they probably dont care. It is small potatoes, and with the IRS in such shambles very unlikely to be an issue but why take the chance?
Bloomberg has great article on chaos at IRS but behind their paywall.

John Oliver has a good funny video piece on this HOA subject this week. I wonder if anyone has tried to handicap the value of houses with HOA fees and fines, given how 82% of new homes sold now are part of HOAs and how terrible and corrupt many of them are? What sort of discount should be applied to a home with an HOA versus one without? The thing is, this is low-road capitalism of the sort like hospital bills consumers can't anticipate before getting out of the hospital because costs aren't disclosed beforehand. It's the same with HOAs and their unique aggressive rules and the fines. You might know the standard HOA membership bill in advance of purchase, but not the fines for absurd infractions, which are really a money-making scheme for private HOA management companies. This again, has nothing to do with thinking houses should be government owned or "socialist," but just square dealing within our capitalist system, treating consumers, labor, communities and our environment with integrity and respect while still making a profit. Here's John Oliver's HOA video:

Great article. Just learned about “gift box”
Am I correct that each spouse can buy $10,000 for their individual account and gift $10,000 ,to each other in a gift box, but not deliver the gift until next year to stay under the $10,000 annual limit?

I used a wide range for fixed rate (0.40-1.00%). The current fixed rate of 0.40% should go up. But with 5-yr TIPS at 1.18%, 1.00% sounds generous. So, the range of 3.79-4.40% for the combined rate is solid.

Fixed rate 0.40-1.00%
Semiannual inflation 1.694% (Unadjusted CPI 6-mo change from Sep-Mar)
Composite rate = 3.79-4.40 %
(Current rate of 6.89% valid for purchases until 4/28/23)
https://ybbpersonalfinance.proboards.com/post/1006/thread