Hank, I didn't say that I was an expert or that 15 years make me an expert. You made up these conclusions. I have been posting here for years and will keep posting, I never told anyone they are MISPLACED anywhere as you did.
I state my opinion, how about stating yours? Anytime you don't agree with my statement, you are welcome to do so with data and explanations.
Here is why most lag the SP500, one source (https://www.thebalancemoney.com/why-average-investors-earn-below-average-market-returns-2388519). There are many more.
Investment sites are for discussing different ideas and opinions without attacking anyone personally. If I offended you in any way, I apologize. Let me know.

FD - Please use quotation marks around or italicize my words when you quote them so readers know you’re quoting me. Thanks.
To your point … If hanging around discussion boards 15 years makes someone an expert, than over a dozen here, including myself, would qualify. You’re very good at making broad sweeping critical remarks about those you encounter on such sites. One is left to question your motive.
Regarding your previous assertion: “I have seen a lot more investors who lag the market when they own more funds, I mean over 5-7 funds.” One wonders why you don’t simply return to those other discussion boards you frequented for 15 years where you gleaned the data? You’re misplaced here because the data you profess to possess did not come from this board. As I said previously, the vast majority on this site are not inclined to post personal performance histories.

@dtconroe: I am intrigued by your explanation of how you use of CDs and their multiple maturity dates. I spend what some would probably call an excessive amount of my free time juggling MFs and ETFs. However, I did put $10K into a CD for the very first time a few months back. Most of my cash is in MM funds, namely SWVXX. Do you not spend any time on the equity side of your portfolio in favor of monitoring what appears to my inexperienced eye a complex operation devoted to CDs, ladders, and redemptions? For my part, I am content with the pretty generous yield on my MM stash, which allows me to buy and sell assets quickly and effortlessly, without worrying if I'm getting the last 1/10% out of the dough. FWIIW, I recall hearing it said about a stock trader in old days when stocks were priced in fractions that, "He'd sell his grandmother for an eighth." I guess I can accept my mileage varying a bit lest I become become too obsessive.

BenWP, I am 75 years old, devoted to preserving my accumulations with moderate TR, so my investments are relatively low risk now. Before retirement, I was very aggressive with a ton of Equity oriented holdings (Sector holdings, Value and Growth Equity Funds, some balanced funds, Global and International Equity holdings, etc.). After I retired, my investment emphasis changed dramatically to lower risk funds, focusing on Bond Oefs with low SD and solid momentum--my favorites were multisector and nontraditonal and HY bond oefs. In March of 2022, I sold everything, was totally in MMs, and started investing in CDs as my chosen option for risk management to produce guaranteed income. CDs require a special set of investing skills, and I chose to spread my cash around to multitude of CDs, in a short term laddering system. 90% of my CDs are in six figure CDs, but I do have a small number of 5 figure CDs. All of my CDs stay within the FDIC insured amounts, but my CD selections are more short term (2 years or less) with banks with high quality ratings. At 75, I don't have that many years left, have plenty of money to live comfortably, and have no interest in taking "unnecessary" risks, and am more focused on a retirement life, with minimal stress, and as much joy as I can muster.
I wish you well, but I suspect you are in a different life situation, with a different set of investing objectives!

M* has put VWEHX / VWEAX on review due to sudden manager change. The new manager has been an analyst for years, been a manager of an analyst group, but has no prior experience with fund management except for a short overlap with the departing manager.
Vanguard has also developed in-house bond capabilities. Its new multisector bond VMSIX / VMSAX is managed entirely in-house. So, it isn't surprising that a sleeve (about 1/3rd) of VWEHX / VWEAX is also managed internally.

Hank: Are you an investment professional? Where did you come by these individual’s performance histories? Must be from somewhere else. It’s quite rare for anyone here to ever post their annual returns. I don't.
FD: this is an observation after posting for over 15 years on several sites. I can't find where I posted my portfolio performance here.
Do professionals make more money than the SP500 over a long time frame? Bogle and Malkiel (Random Walk) proved it already decades ago that VOO/VTI beat most fund pros over a longer time.

To me, the point isn’t that CD yields can be marginally higher than money markets. It’s that interest rates will start dropping at some point, and then MM yields will drop quickly. With CDs, you can lock in high yields for as long as 10 years, and you will continue getting those yields even if interest rates drop (assuming you bought non-callable CDs).

+1
And with that in mind, bond funds will make a lot more money than CDs.
That's the beauty of owning MM on the way up, and owning bond funds when rates go down. After rates stabilize, CDs still will not be great. The idea is to make a lot more money (several %) on the big moves and disregard very small gains (0.2-0.4%) for several months with a lot more effort and gates.
So, how do you figure out the above? use the following ideas
1) Listen to the Fed chair, not the experts
2) Pay attention to CME FedWatch Tool(https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html). It tells in real time where rates will be in the next several months, it's OK to be late, never be too early.

To me, the point isn’t that CD yields can be marginally higher than money markets. It’s that interest rates will start dropping at some point, and then MM yields will drop quickly. With CDs, you can lock in high yields for as long as 10 years, and you will continue getting those yields even if interest rates drop (assuming you bought non-callable CDs).

Supplement Dated July 31, 2023, to the Prospectus and Summary Prospectus Dated May 25, 2023
Important Changes to Vanguard High-Yield Corporate Fund (the Fund)
Effective immediately, Michael L. Hong will no longer serve as a co-portfolio manager
of Wellington Management Company LLP’s (Wellington Management) portion of the Fund.
Elizabeth H. Shortsleeve will continue to manage Wellington Management’s portion of the Fund.
The Fund’s investment objective, strategies, and policies remain unchanged.
Link

old joe +1

@BenWP- it's really not all that complicated, at least the way that I do it-
• Take a guess at how long I might be still around. Say, hopefully, at least a couple of years.
• (Alternatively, determine a date when I might be needing cash for something.)
• Decide how much overall that I want to invest in CDs or Treasuries.
• OK, now I've got a reasonable horizon to think about.
• Take a look at Schwab or other brokerage, plug in the desired specs: duration, non-callable, desired interest.
   (There's a page for setting up the specs. I use Schwab here as an example, but I'm sure that other
    brokerages have a similar setup.)
• All of the banks listed will be FDIC insured.
• Generally speaking, in a market like this one, the longer out you look the less the interest rate will be.
• OK, now just buy CDs:
    • each one for whatever amount is comfortable for a single bank. (You're FDIC insured, but spread out
       the chance of problems.)
    • each one for a particular maturity-
            say maybe 3 mths, 6mths, 9, 12, 15, 18, 21, 24. etc. That's your "ladder".
• Now you've got an income stream with payments coming in predictably.
• Additionally, there'll also be interest coming in at various times, depending on the CD terms.
• OK, at 3 mths the first one matures. Then you decide whether to buy a new one or use the cash for
   something else. The interest rates available at that time may have increased or decreased.
• Etc. for the remaining maturities. The procedure is similar for short-term Treasuries.
• That's about it. If I can figure it out, I guarantee that can't be very hard!
(If you're FD, none of this is worth your time.)

@dtconroe: I am intrigued by your explanation of how you use of CDs and their multiple maturity dates. I spend what some would probably call an excessive amount of my free time juggling MFs and ETFs. However, I did put $10K into a CD for the very first time a few months back. Most of my cash is in MM funds, namely SWVXX. Do you not spend any time on the equity side of your portfolio in favor of monitoring what appears to my inexperienced eye a complex operation devoted to CDs, ladders, and redemptions? For my part, I am content with the pretty generous yield on my MM stash, which allows me to buy and sell assets quickly and effortlessly, without worrying if I'm getting the last 1/10% out of the dough. FWIIW, I recall hearing it said about a stock trader in old days when stocks were priced in fractions that, "He'd sell his grandmother for an eighth." I guess I can accept my mileage varying a bit lest I become become too obsessive.

Easy fix by the bosses, easier prevention
Too long but so eloquent

@hank. BF?

Benjamin Franklin (1706-1790)
On Humility …
- “Humility makes great men twice honourable “
- “To be humble to superiors is a duty, to equals courtesy, to inferiors nobleness”
- “If thou hast wit and learning, add to it wisdom and modesty.”
On money …
“If you would know the value of money, go and try to borrow some; he that goes a- borrowing goes a- sorrowing"
”Rather go to bed without dinner than to rise in debt”
“A Penny Saved Is a Penny Earned”
“He that is of the opinion money will do everything may well be suspected of doing everything for money”
Many of these proverbs appeared in Franklin’s Poor Richard’s Almanac.:
”The Almanack contained the calendar, weather, poems, sayings and astronomical and astrological information that a typical almanac of the period would contain. Franklin also included the occasional mathematical exercise, and the Almanack from 1750 features an early example of demographics. It is chiefly remembered, however, for being a repository of Franklin's aphorisms and proverbs, many of which live on in American English. These maxims typically counsel thrift and courtesy, with a dash of cynicism.” https://en.wikipedia.org/wiki/Poor_Richard's_Almanack

+1 old joe Maybe FD is short for Financial Demagogue or Dork !

@Old_Joe : thanks I needed that . +1

“I have seen a lot more investors who lag the market when they own more funds, I mean over 5-7 funds.”
Are you an investment professional? Where did you come by these individual’s performance histories? Must be from somewhere else. It’s quite rare for anyone here to ever post their annual returns. I don't. Can think of only 3 or 4 members who did state their ‘22 performance. For longer periods - none that I’m aware of. Your logic is questionable here anyway. The S&P fell over 18% in 2022. Certainly, “leading” the S&P with a loss of “only 15%” would not have been a sign of superior intelligence or investment acumen.
I think Buffet is really cool. I’ve read dozens of his quotes. His bottom line seems to be to do your due diligence and buy companies you would like to own forever. He often compares buying a company to planting a tree. Sit back and watch it grow. But it is also true that for those who lack his ability or resources to research a company in depth, he thinks index investing is best. Temper that, however, with his quote: "Be fearful when others are greedy and greedy when others are fearful." That means Buffet does believe investors should take into consideration market valuations and public sentiment in deciding when to buy or sell equities.
Finally, there’s Buffett’s Rule #22 - ”If you want to invest well, don’t be a know-it-all.”

The FDIC coverage limit is 250k, so of course we stay inside that. Why trust any one bank when there are so many to use? Yes, I have to purchase many of them. No, there's only one institution to deal with: Schwab.
We've all been informed numerous times that you're a brilliant multizillionaire, and we're really not terribly impressed. Perhaps some of us are, also. Maybe you should change your user name to BS1000.

wow, only 50-100K in each CD? I would have to purchase many of them + deal with so many different institutions. The more details I read about the less I want to do it.
Disclaimer: I never owned CDs or treasuries.

Buffett's investment process is focused on purchasing companies with competitive advantages
(wide moats) at a fair price and holding them "forever."
He believes that at least 98% of people who invest should extensively diversify and not trade.
FWIW, I find it intriguing when individuals reference Buffett even though
their investment process is diametrically opposed to his.

Maybe the word BASED isn't the best but I explained what I do and it all came to me from Buffett. I read other books and articles but none lead me to these ideas.
Diversification according to Buffett is the SP500, not 5-10-20 funds which is how most invest. I disagree with "extensively diversify" part.
https://news.yahoo.com/warren-buffett-investing-advice-thats-beaten-most-pros-for-12-straight-years-100054380.html
Quote"I recommend the S&P 500 index fund and have for a long, long time to people," billionaire investor Warren Buffett said at Berkshire Hathaway’s annual shareholders meeting last May.
BTW, Bogle also recommends 2 or 3 funds VTI/VOO + (maybe international index) + BND.
The funny thing is that almost nobody buys and holds the above for decades, but they all know what diversification means. I have seen a lot more investors who lag the market when they own more funds, I mean over 5-7 funds. Generally, more funds = more trading = lower performance. This is a generic statement not toward anybody.

Buffett's investment process is focused on purchasing companies with competitive advantages
(wide moats) at a fair price and holding them "forever."
He believes that at least 98% of people who invest should extensively diversify and not trade.
FWIW, I find it intriguing when some people reference Buffett although their investment processes
are diametrically opposed.

+1
Buffett is a glib, but likable fellow. He’s said a lot of things over his 70+ years of investing. Need to prove a point? Search for a Buffett adage. You’ll likely find a witty remark to support your viewpoint. Right up there with the master, BF.