Excerpts from M* article posted 10/31.
"And sometimes, autocracy risks can even render an investment’s value almost worthless overnight. Last year, the profitability of Chinese tutoring firms was placed at risk by a government order forcing all such companies to register as nonprofit organizations. Since January 2021, ADRs of TAL Education Group (TAL) have lost 93.9% of their value, while those of New Oriental Education & Technology Group (EDU) are down 86.7%."
“'Increasingly, what you’ve been seeing over time is that the government of China is not hesitant to stick its hands in public companies’ positions,' says Daniel Sotiroff, senior manager research analyst at Morningstar. Sotiroff also points to the failed IPO of Ant Group—Jack Ma’s financial-technology company owned partially by Alibaba (BABA), set to be the largest IPO in history—as an example of government regulations affecting the markets. Just hours before the planned debut, Chinese regulators suspended the offering on the basis of new regulations."
“'China has been the fastest-growing economy for years, by a long shot,' Sotiroff says. Since 1992, China’s gross domestic product has risen from $426.9 billion to $17.7 trillion—that’s growth of over 4,000%. 'And for a while, the stock market did grow, but it never really turned into great performance compared to other markets.'”

Link

Yields on two-year Treasuries have been significantly above those of 10-year Treasuries since early July. Other parts of the curve that the Fed sees as more reliable warnings an economic contraction is expected have also inverted, or have flattened significantly, in recent weeks.

https://reuters.com/markets/us/several-parts-us-yield-curve-are-inverted-what-does-it-tell-us-2022-11-01/
If recession scenario plays out in early 2023, how would you position your portfolio and what asset classes would survive ?

No wonder EM stock funds are lagging badly.
https://morningstar.com/articles/1121936/big-china-stock-bets-continue-to-hit-emerging-markets-funds

A new bifurcated world, like back during the old Cold War. NATO and allies vs. both Putin-soviet-style junk, plus tacit or active support from communist China, and India--- which is buying materials from those two pariahs. ...Then you have the Orbans and Bolsinaro Trumpster-types. I have even noticed a religious connection: ultra-conservative wingnut Catholics who reject the current pope as somehow an anti-pope or anti-Christ, together with right-wing nutso evangelicals who are more than willing to swallow and spread conspiracy theories and assist with insurgent-type behavior.

No wonder EM stock funds are lagging badly.
https://morningstar.com/articles/1121936/big-china-stock-bets-continue-to-hit-emerging-markets-funds

Does this mean that only those who purchase after Oct 31, 2022 get the benefit of the 41 bp fixed rate addition? The rest of us get only 6.48%.

Yep! The fixed rate at purchase remains forever (well, 30 years).

Will it make the metal soar? (Dated 13 October.)
https://capital.com/could-a-us-ban-on-russian-aluminium-make-the-metal-soar
https://www.morningstar.com/stocks/xnys/aa/quote
https://www.morningstar.com/stocks/pinx/nhydy/quote
https://www.riotinto.com/en/products/Aluminium

Does this mean that only those who purchase after Oct 31, 2022 get the benefit of the 41 bp fixed rate addition? The rest of us get only 6.48%.

For previously bought I-Bonds, the new rates will be,

That fixed/base rate is low at 0.40%, IMO. The 5-yr TIPS/real rate is 1.60%. The 5-yr TIPS looking a better deal (next auction 12/22/22; buy anytime in the secondary market).

New I-Bond Rate 6.89%, 11/1/22
https://www.treasurydirect.gov/savings-bonds/i-bonds/i-bonds-interest-rates/

TIAA Traditional Rates, November 1, 2022
Restricted RC 6.50%, RA 6.25%
Flexible RCP 5.75%, SRA 5.50%, Newer IRAs 3.65%
#TIAA #TIAATraditional #StableValue #GuaranteedIncome #403b
https://ybbpersonalfinance.proboards.com/thread/142/tiaa-traditional-rates-monthly?page=2&scrollTo=820
TSP G Fund hasn't updated yet for 11/2022 (10/2022 rate was 4.00%).
https://www.tspfolio.com/tspgfundinterestrate

I have long wondered if there is any good poetry about Wall Street. Geritz's poem here, by her own admission, doesn't quite cut it. Here's one allegedly by Edgar Allan Poe:
Epigram for Wall Street
I'll tell you a plan for gaining wealth,
Better than banking, trade or leases —
Take a bank note and fold it up,
And then you will find your money in creases!
This wonderful plan, without danger or loss,
Keeps your cash in your hands, where nothing can trouble it;
And every time that you fold it across,
'Tis as plain as the light of the day that you double it!
Here's another by a poet named Lola Ridge:
Wall Street at Night
Long vast shapes... cooled and flushed through with darkness...
Lidless windows
Glazed with a flashy luster
From some little pert café chirping up like a sparrow.
And down among iron guts
Piled silver
Throwing gray spatter of light... pale without heat...
Like the pallor of dead bodies.

Double whammy with Halloween and Presidential Cycle Indicators to buy:
Why The Halloween Indicator May Work For Investors In 2022 here
Halloween Investment Strategy Recent Results here

Well, that will be a way to avoid the transaction fee at the fund supermarkets. John Montgomery, the head honcho, has always refused to play the fee game with the big boys. In the days of physical annual reports, Bridgeway mailed plain old 8.5"X11" white printer paper. No glossy copy and generally a very honest report of hits and misses.

Interesting development. BOTSX has out performed BRSVX (which I own) over 1 year and 3 year periods. I wonder what Bridgeway sees in this reorganization.

https://www.sec.gov/Archives/edgar/data/916006/000168035922000198/brdgwyomnitmsmcap49710312022.htm
497 1 brdgwyomnitmsmcap49710312022.htm
BRIDGEWAY FUNDS, INC.
Omni Tax-Managed Small-Cap Value Fund (BOTSX)
Supplement dated October 31, 2022
to the Prospectus and Statement of Additional Information dated October 31, 2022
At a meeting of the Board of Directors (the “Board”) of Bridgeway Funds, Inc. (“Bridgeway Funds”) held on August 25, 2022 (the “Meeting”), the Board unanimously approved an Agreement and Plan of Reorganization (the “Plan”), providing for the reorganization of the Omni Tax-Managed Small-Cap Value Fund that would consist of: (i) the transfer of all of the property, assets, and goodwill of the Omni Tax-Managed Small-Cap Value Fund for shares of the EA Bridgeway Omni Small-Cap Value ETF (the “Omni Small-Cap Value ETF”), a newly-organized series of the EA Series Trust, and (ii) the distribution of the Omni Small-Cap Value ETF shares to Omni Tax-Managed Small-Cap Value Fund shareholders in complete liquidation of the Omni Tax-Managed Small-Cap Value Fund (when completed, the “Reorganization”). The Board determined that the Plan and Reorganization would be in the best interests of the Omni Tax-Managed Small-Cap Value Fund and its shareholders. The effect of the Plan and Reorganization will be that the Omni Tax-Managed Small-Cap Value Fund’s shareholders would become shareholders of the Omni Small-Cap Value ETF. The Omni Small-Cap Value ETF will be managed in a substantially similar manner as the Omni Tax-Managed Small-Cap Value Fund, and the Omni Small-Cap Value ETF’s investment objective, principal investment strategies, and portfolio management team will be the same as that of the Omni Tax-Managed Small-Cap Value Fund.
The Plan will require the approval of the shareholders of the Omni Tax-Managed Small-Cap Value Fund. A special meeting of the shareholders of the Omni Tax-Managed Small-Cap Value Fund is being called for that purpose. Shareholders of the Omni Tax-Managed Small-Cap Value Fund will receive proxy solicitation materials providing them with information about the Omni Small-Cap Value ETF, the Plan, the Reorganization, and potential benefits to Omni Tax-Managed Small-Cap Value Fund shareholders. If approved by shareholders of the Omni Tax-Managed Small-Cap Value Fund, the Reorganization is expected to take effect during the first quarter of 2023 (or such other time as permitted by the Plan). It is anticipated that the Reorganization will qualify as a tax-free reorganization for federal income tax purposes and that shareholders will not recognize any gain except as indicated in the next sentence. If the Reorganization is approved by Omni Tax-Managed Small-Cap Value Fund shareholders, any fractional shares held by shareholders will be redeemed, and the Omni Tax-Managed Small-Cap Value Fund will distribute the redemption proceeds to those shareholders, which may be a taxable event, and such shareholders are encouraged to consult their tax advisors to determine the effect of any such redemption. Share purchases of the Omni Tax-Managed Small-Cap Value Fund may no longer be permitted approximately one week prior to the Reorganization. Investors should check the Bridgeway Funds’ website (bridgewayfunds.com) for further information.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

@Observant1

Expanded state control of the economy may lead to unsatisfactory investor outcomes.

This is indeed why the market has sold off. The question for the value investor is at what point are the risks of expanded state control "priced in" to securities? Or should investors assume there is no suitable price for that risk? It is a vital question.
[snip]
By contrast, if you think, that's it, the end of capitalism in China altogether--no price is worth paying.

This is indeed a vital question for value investors.
Value investors must be cautious to avoid "falling knives."
Regardless of price, I don't want to deal with an increasingly authoritarian government
which can capriciously decimate equities (e.g., tech, education) in an instant ¹.
I don't believe Chinese-style capitalism will end, but government intervention
in the markets may increase now that Xi has consolidated power.
¹ I do own VWILX. Chinese equities comprised 14.6% of assets as of 08/31/2022.

Legally, only Vanguard ETFs can be classes (twins) of Vanguard OEFs. Others may use similar names and may point to manager overlaps to have cousins/clones. VG patent is expiring soon, so others may follow, or not bother.
Strange that JPMorgan doesn't show JAVA on its active ETF page, but can be found on the JPM website.
JPM Active ETFs https://am.jpmorgan.com/us/en/asset-management/adv/investment-strategies/etf-investing/capabilities/active-etfs/
JAVA at JPM https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-active-value-etf-etf-shares-46641q167