Buying a few more shares in NHYDY Norsk Hydro, at Market Open, 16th Feb, '23. The stock is down by more than -7% in the past 5 days alone. Latest earnings reported were 10 cents, but 12 cents was the consensus estimate. Mr. Market was disappointed. And Mr. Market ALWAYS overreacts. Also uncle Joe and the Congress are pushing "made in America." Dunno if that includes NHYDY. They have a presence here, Stateside...... Dividend is not due until May. RSI (14) is 39........EDIT: Alas, the booger rose, rather than falling to my target-price on my Limit Order. Guess I'll adjust it to "Good Till Canceled."

https://www.sec.gov/Archives/edgar/data/1355064/000158064223000908/dayhagen_497.htm
Day Hagan Smart Value Fund
Class A: DHQAX Class C: DHQCX Class I: DHQIX
(the “Fund”)
Supplement dated February 15, 2023 to the Prospectus, Summary Prospectus and Statement of Additional Information, each dated November 1, 2022.
______________________________________________________________________________
The Board of Trustees of Mutual Fund Series Trust has concluded that it is in the best interests of the Fund and its shareholders that the Fund cease operations. The Board has determined to close the Fund and redeem all outstanding shares on March 17, 2023 (“Liquidation Date”).
Effective immediately, the Fund will not accept any new investments and may no longer pursue its stated investment objective. The Fund will begin liquidating its portfolio and will invest in cash equivalents until all shares have been redeemed. Any capital gains will be distributed as soon as practicable to shareholders and reinvested in additional shares, unless you have previously requested payment in cash. Shares of the Fund are otherwise not available for purchase.
ANY SHAREHOLDERS WHO HAVE NOT REDEEMED OR EXCHANGED THEIR SHARES OF THE FUND PRIOR TO MARCH 17, 2023, WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OR ACCOUNT OF RECORD. If you have questions or need assistance, please contact the Fund at 1-877-329-4246 (877-DAY-HAGN).
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodian Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days in order to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement.
You should read this Supplement in conjunction with the Prospectus, any Summary Prospectus and the Statement of Additional Information for the Fund, each dated November 1, 2022, which provide information that you should know about the Fund before investing. These documents are available upon request and without charge by calling the Fund toll-free at 1-877-329-4246 (877-DAY-HAGN) or by writing to 4221 North 203rd Street, Suite 100, Elkhorn, Nebraska 68022.
Please retain this Supplement for future reference.

https://www.sec.gov/news/press-release/2023-29
"The Securities and Exchange Commission today adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one (T+1).....The adopting release is published on SEC.gov and will be published in the Federal Register. The final rules will become effective 60 days after publication in the Federal Register. The compliance date for the final rules is May 28, 2024."
Legal minds may like the 314-page SEC document. https://www.sec.gov/rules/final/2023/34-96930.pdf

Congress passed a massive year-end spending bill that included enhancements to retirement savings known as the SECURE Act 2.0. These changes build on the SECURE Act of 2019 and address issues that were not part of the original act, with the ultimate goal of increasing retirement preparedness for Americans.
McLean is hosting a webinar to provide insight into the meaningful changes brought by this new legislation. Moderated by Brian Bass, you will hear from McLean thought leaders Wade Pfau, Rob Cordeau, and Jason Rizkallah as we discuss what has changed and what financial planning opportunities are possible due to SECURE Act 2.0.
Topics include:
Required Minimum Distributions (RMDs)
529 College Savings Plans
Qualified retirement plans - both Traditional and Roth
Charitable planning
SEP and SIMPLE Roth accounts
Employer contributions to Roth accounts
Updates to benefit retirement savings

webinar secure act 2.0

Notice that the treasury yield curve has changed since summer 2022:
1. The inverted curve started to flatten as 1 yr, 2 yr and 10 yr yields moving upward in the last several weeks.
2. As of yesterday, the 6 mo and one year yields reached 4.98% and 4.99%, respectively. @yogibb mentioned that is the sweet spot.
3. 10 year yield is moving upward and that is negatively impacting other bond prices. My core bond funds have moved down since the beginning of the year. Yields are over 4% now so I will dollar-cost-average back to my target %.
@MikeM, Please note that individual TIPs bond is not the same as TIPs funds/ETFs. TIPs fund/ETF bond price is volatile and 2022 was a down year YTD even when inflation is high. In order to take advantage of the CPI, one needs to buy individual TIPs of 5 yr, 10 yr or 20 yr, and hold them to maturity. More explanations from David Enna.
https://tipswatch.com/tips-in-depth/

The bull case for TIPS goes something like this. Max real rate ranges have been,
5-Yr TIPS -1.87% to +4.24%, current +1.49%
10-Yr TIPS -1.10% to +3.06%, current +1.41%
So, IF one assumes that in the current environment the real rates are peaking too, and IF at some future time they move to new lows (and negative), then TIPS would have a giant rally. But note 2 "IFs".
As I said before, I am not speculating in this area. But I can also see @Devo's point after TIPS funds have been trashed along with regular bond funds (and those have bounced more).
https://fred.stlouisfed.org/graph/?g=105kz

I trust Devo understands this investment in TIPs, but even explained to me I can't say I really understand why they are positioned to move up. I can't invest in something I don't understand. Inflation continued to rise and TIPS continued to fall in 2022. If I look today, the ETF TIP is down ~13% in the past year, treading water YTD.
Schwab gives this analysis:

Trend Analysis
TIP appears to be consolidating within a longer term downtrend. Shares are presently below the 200-day moving average, which is falling along with the 10-day moving average. However, the Average Directional Index, or ADX, is below 20, indicating that shares have exhibited sideways movement recently. Comparative Relative Strength analysis shows that this issue is lagging the S&P 500.
As of 11:28 AM ET Wednesday, 02/15/2023
Momentum
Momentum for TIP is strongly bearish. The 14-period Slow Stochastic oscillator is below 20, the level which many analysts call oversold. This means that investors have been actively selling shares and driving the price lower.
As of 11:28 AM ET Wednesday, 02/15/2023

I'm pretty sure their day is coming as Devo says. I believe his analysis and investment ability but can't say I fully understand it. Bottom line, for me, if I don't understand their movement I can't invest.

I first tried instant X-ray before "rolling my own". I couldn't ignore the fact that M* only shows larger holdings.
Two of SCHD's top ten holdings, Lockheed Martin (LMT) and Blackrock (BLK), are not shown to overlap with the S&P 500. (They're very small parts of the S&P 500.)
These aren't isolated cases. Continuing down the list of SCHD's holdings, #11 IBM, #14 ADP, and #15 Altria are also S&P 500 components that don't appear to overlap. And so on.
What this x-ray does show is that the two funds are not all that similar.

M* Instant X-Ray with a portfolio of 50% SCHD, 50% SPY will also show overlaps/nonoverlaps for larger holdings. https://www.morningstar.com/instant-x-ray
https://i.ibb.co/VtFSfBv/Screenshot-2023-02-15-10-02-14.png

msf
I am sure I am not alone in dying to know what (7.) ff is.

The next step follows from my last sentence: "Of course the weightings of each company are completely different in SCHD and S&P 500."
The percentage of holding overlap, independent of weight, isn't especially meaningful. Consider funds holding just two securities: 99% and 1% in fund A, and 1% and 99% in fund B. These funds are essentially totally different, yet they have 100% overlap.
Or to give a less hypothetical example, compare an equally weighted index fund with a market weighted index fund. Significantly different, yet here too, 100% overlap.
So 7. is to compute active share. I did this a very quick and dirty way; I'm sure there are more elegant Excel functions to accomplish this. Steps are below.
The result is that SCHD has an 88% active share, relative to the S&P 500. It would be expected to, and does, behave very differently. Though over the long term it averages out to be rather similar.
As Lewis observed, the difference in behavior along the way may make SCHD a better choice (easier to hold). For the "true buy & hold types" this shouldn't matter.
7a. Copy the 500+ Ticker and weight columns of the S&P 500 components vertically on a separate page; start it in row 3 (columns A and B).
7b. Transpose (i.e. convert columns to rows) the ticker and weight columns of the SCHD components into rows 1 and 2.
https://support.microsoft.com/en-us/office/transpose-function-ed039415-ed8a-4a81-93e9-4b6dfac76027
7c. Fill in the cells of matrix (504 rows x 103 columns) with a formula that computes the absolute difference of the weights if the ticker is the same for that row and column. The formula looks like:
=IF(C$1 = $A3, ABS(C$2 - $B3) ,0) [this is for cell C3; cut and paste for the whole matrix]
7d. SUM the weights in the matrix.
7e. Compute the weights of all the Tickers in SCHD that are not in the S&P 500. This is done by using step 4 (with 0 if the ticker is not in S&P 500, 1 if it is). The formula looks like:
=IF(T2,0,P2)
7f. Sum these weights.
7g. Repeat this exercise (steps 4 and 7e-7f) to get the weights of all S&P 500 components that are not in SCHD.
7h. Compute active share: add absolute difference of weights for securities in both indexes (7d), weights of securities only in SCHD (7e), and weights of securities only in S&P 500 (7f); divide the sum by 2.
https://www.mutualfundobserver.com/active-share/

@Crash. I have been favoring only 5-yr TIPS, not TIPS funds (ST or IT/LT). The idea is to capture CPI approximately, see chart below - I don't know why the StockCharts hasn't updated CPI for January in comparison charts (it has in separate CPI chart). And I am thinking that slowing inflation will catch up with individual TIPS too, just as it has with I-Bonds. I do have 5-yr TIPS from last year, but I am unclear about new purchase(s).
For me, m-mkt funds, T-Bills, 5-yr TIPS, SVs, I-Bonds are just the cash-side of fixed-income. I have plenty of equity exposure for risk.
https://stockcharts.com/h-perf/ui?s=VTIP&compare=TIP,SCHP,$$CPI&id=p24810227377
https://stockcharts.com/h-sc/ui?s=$$CPI&p=D&b=5&g=0&id=p17805591940

Also he sold majority of Taiwan Semiconductor Manufacturing that he acquired a year ago.
https://cnn.com/2023/02/15/tech/warren-buffett-tsmc-chips-earnings-hnk-intl/index.html

@BenWP
>> I don't know what happened to DEESX, either.
My post and phrasing were about CAPE and CAPE only.
As for DSEEX, the M* chart for DSEEX
https://www.morningstar.com/funds/xnas/dseex/chart
shows its growth from end October 2013 to yesterday to be >203%, compared w SP500's 181%. For ytd it's >13% vs <8%.
That's all. Not making any other claims about it. Don't hold it anymore. 5y and 1y show it lags SP500 somewhat.

I-Bonds use 6-mo change in unadjusted CPI for their May 1 & November 1 announcements. That is definitely collapsing on May 1.
TIPS use monthly CPI changes with 2-mo lag. How is that looking now?
I am definitely skipping I-Bonds, but I am still evaluating 5-yr TIPS.

Yogi, can you unpack that for me? Thank you. I own SCHP (TIPS.)

If not now Tips , then when? If not Tips, then what?

+1.

Specifically, if you exclude SCHD's last 25 or so holdings (out of ~100), which contribute a minuscule amount to performance, you do see that the remainder appear to be in SP500 (I'm not 100% positive about this, as I got tired searching within the long columns).
Simple and relatively fast way to do this analysis:
1. Download SCHD into a spreadsheet from the Schwab site; here is the link for the .csv file.
2. Download a current (or at least recent) list of S&P 500 companies. I used Finasko; here's the direct link for an Excel file.
3. Cut and paste the ticker column (roughly 500 rows plus heading) into the SCHD spreadsheet.
4. Use COUNTIF to test whether each SCHD ticker is in the S&P 500 list. The COUNTIF function will return 1 if the SCHD ticker is in the S&P 500 and 0 otherwise. You should adjust the column letters appropriately; the expression I used is:
=COUNTIF($O$2:$O$504, B2)
5. Sum the counts. There are 55 SCHD companies in the S&P 500. The other 48 are not. The first company not in the S&P 500 is #49, First Horizon Corp (FHN).
6. By multiplying the weight of each ticker by its '1' or '0' result, you get a column of weights of just those SCHD companies that are in the S&P 500.
94.06% of SCHD companies (by weight) are in the S&P 500.
Of course the weightings of each company are completely different in SCHD and S&P 500.

@MikeM, I don't know and can't easily uncover what the heck happened w CAPE as of 4/22, but I am sure someone here knows. DSEEX has still outperformed FXAIX for 9.5y and also ytd :) --- but not, as others would, or will, instantly point out, for various stints in between. (QQQ likewise looks appealing at 10y and ytd, not quite so much in between.)
I wasn't being facetious in rhetorically posing the question of where the breadth sweet spot is. Or can reliably be said to be, if we seek investment goals and guidelines. Some of the above apples-oranges (categories) objections are silly, but someone else also mentioned subsets of sets; and so I began to wonder whether everything in SCHD was in SP500 and everything in SP500 in VONE, and everything in VONE in VT.
For the first it turns out not, but close, so far as I had the energy to parse. Specifically, if you exclude SCHD's last 25 or so holdings (out of ~100), which contribute a minuscule amount to performance, you do see that the remainder appear to be in SP500 (I'm not 100% positive about this, as I got tired searching within the long columns). SCHD applies a seriously delimiting quantified quality criterion. Could there be an SCHD for the VONE universe? (For some periods, of course, that is sort of what VONG and VONV do.)
Unappreciated (why I also mentioned comparative UI) was the 'leveling' effect the SCHD criteria appear to exert. But maybe UI is arguably overvalued as well. Gustibus.

Given the size of the Buffett's estate, the 90% allocation to stock index funds might be far more acceptable than in this case. If you've got several billion dollars lying around, losing a billion or two to a stock market decline in a year isn't life altering.

Ditto
You can quote or cite the esteemed Buffet to support just about any point of view. My favorites are the ones about swimming naked + “Rule #1” and “Rule #2” .
But yes. @Mark’s reference to Buffet’s plan for wife (as vigorously discussed / debated here about a dozen years ago) is correct. Suggest a big grain of salt. As I believe Lewis intimated, not all of us have an extra billion lying around.