Interesting Read:
dividend-investing-man-vs-machine

FYI that M* article is from 2015, but still interesting reading.

The story mentions Verizon in the value camp as one that has done poorly. It's getting clobbered again today, and now has an eye-popping 7% dividend yield. Either it is insanely cheap or that dividend will soon be cut. I'm going with cheap: https://verizon.com/about/news/verizon-increases-dividend-16th-consecutive-year

TROW stock price has fallen over 50%, causing its dividend to climb (now 4.75%). P/E is under 10.
Seems a collection of these “cheap” dividend stocks would be a great alternative for someone considering buying an annuity.
Interesting Read:
dividend-investing-man-vs-machine
Notes:
VYM = (Vanguard High Dividend EFT) off (-12%) with a Dividend Yield of (3.39%)
VGSIX = Off (-33%) , YLD = (3.7%)
FRIFX = Off (-18%), YLD = (3.7%)
SCHD = Schwab US Dividend Equity ETF off (-13%), YLD = (3.79%)
VPU = Vanguard Utilities ETF off (-13%), YLD = (3.12%)

For some reason I am not able to access the full discussion this morning. So I will just go ahead and have my say, hoping it will be visible.
First, someone asked about the application - I did make a copy. and yes, it does ask for the SSN, so they have our personal information!!!
Then regarding the people involved: We have the name of Darius Carpavicius. One of the checks that I received list the address for HMC Trading as 11010 Lake Grove Blvd in Morrisville, NC, Ste 100-12. When I checked that address on google maps it showed a UPS store.
But then how about other people, like the managers they listed
Andrew Taubman, CEO, allegedly MBA from Columbia Business school
David Brown, COO with MBA from Harvard Business School
David Freedman, Fund manager
John Olson, FCFO
Are we going to let these men go unpunished, or are these all made up names? Their linked-in profiles disappeared. I wanted to check if these MBAs existed. To get that info you have to contact the National Student Clearing House, but they would only divulge such information to a company, and so I gave up.
Then I have 2 more names: One email to me was signed by Michael Jobs, and on their chat room the support agent was Kris Boac.
This will do for now, I hope it is somehow helpful

The story mentions Verizon in the value camp as one that has done poorly. It's getting clobbered again today, and now has an eye-popping 7% dividend yield. Either it is insanely cheap or that dividend will soon be cut. I'm going with cheap: https://verizon.com/about/news/verizon-increases-dividend-16th-consecutive-year

Growth stocks had another down quarter, but for the first time in a year they held up better than value stocks.
For much of the third quarter, there was no clear winner in the value versus growth stock tug-of-war. Some recommended turning instead to beta—a measure of volatility—to find the next group of market leaders amid the uncertain outlook. But in the quarter’s final days, growth held up better than value as the market fell.

https://morningstar.com/articles/1116310/7-charts-on-value-versus-growth-stocks-in-the-third-quarter
The first figure, YTD growth is lagging value style over 20-30% from large to small caps.

It would be premature to get excited when November and December rate hikes are coming. 75 bps hike is highly likely for November and 50 bps hike is predicted for December. 10-year treasury is now over 4%, the highest level for the year.

https://www.sec.gov/Archives/edgar/data/802716/000168386322006771/f23437d1.htm
497 1 f23437d1.htm VP NEWBRIDGE LARGE CAP GROWTH FUND LIQUIDATION
Victory Funds
Victory NewBridge Large Cap Growth Fund
Supplement dated October 20, 2022
to the Prospectus, Summary Prospectus, and
Statement of Additional Information
each dated March 1, 2022
On October 18, 2022, the Board of Trustees of Victory Portfolios ("Trust"), upon the recommendation of Victory Capital Management Inc., the Trust's investment adviser, approved a Plan of Liquidation ("Plan") for the Victory NewBridge Large Cap Growth Fund (the "Fund"). It is anticipated that the Fund will liquidate on or about December 28, 2022. On the liquidation date, the Fund will redeem all its outstanding shares at the net asset value of such shares.
In anticipation of the liquidation, at the start of business on November 1, 2022, the Fund will be closed to new investors and shareholder accounts. Through end of business on December 21, 2022, the Fund will continue to accept additional investments (including through the reinvestment of dividends and capital gains) from existing shareholders. In order to provide for an orderly liquidation and satisfy redemptions in anticipation of the liquidation, the Fund may deviate from its investment objective and strategies as the liquidation date approaches. It is anticipated that the Fund's portfolio will be positioned into cash on or some time prior to the liquidation date.
The Fund may pay more than one liquidating distribution in more than one installment. Distribution of liquidation proceeds to Fund shareholders may result in a taxable event for shareholders, depending on their individual circumstances. Shareholders should consult their own tax advisors about any tax liability resulting from the receipt of liquidation proceeds.
If you wish to obtain more information, please call the Victory Funds at 800-539-3863.
PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.

Hi all on this page, I have already posted this to the Private TBO victims board, but wanted to post it here in the public as well. If anyone has any thoughts or can help us?
Hi All, below is the research that my husband has done on the APPF (Authorized Push Payment Fraud). In the UK they have laws and basically automatically reimburse victims like us in situations like this. The US is behind. But there is hope. Here is his research:
Making the Case the Fraudster's Banks are Guilty of Negligence and Ought to Reimburse the Fraud Losses
The argument in short is the banks should have prevented the fraudster from opening accounts with the banks to stole our money. Moreover, the banks should have carefully monitored the accounts for suspicious activity, preventing the fraudster from stealing our money. Such suspicious activity includes withdrawing our money immediately or very soon after it was deposited, cashing large checks instead of depositing them, transferring our deposited money into crypto currencies, performing in-person bank activities in quasi-disguise (a cap and a medical mask), etc.
The fraud is called Authorized Push Payment Fraud, or APP fraud:
This fraud "happens when fraudsters deceive consumers or individuals at a business to send them a payment under false pretenses to a bank account controlled by the fraudster. As payments made using real-time payment schemes are irrevocable, the victims cannot reverse a payment once they realize they have been conned." (https://www.fico.com/blogs/what-authorised-push-payment-fraud)
The responsibility of the banks to detect fraudster's opening or holding an account(s) with their bank falls under the principle of Know Your Customer, or KYC:
This "refers to due diligence that banks and other financial institutions must perform on their customers before doing business with them. Know your customer policies are usually required by governments and enforced by bank regulators to prevent corruption, identity theft, financial fraud, money laundering and terrorism financing. Most Know Your Customer frameworks are based on four components: 1) customer identification, 2) customer acceptance, 3) transaction monitoring and 4) ongoing risk management. Requirements vary by country, but the collection of basic identity documents, comparison against certain name lists (‘politically exposed persons’ or PEP lists, for example), and analysis of transaction behaviors are most common." (https://fraud.net/d/kyc-know-your-customer/)
Anti-Money Laundering (AML) regulations are also relevant.
"AML is a set of regulations, laws and procedures that detect and prevent criminals from disguising illegal funds as legitimate income. AML policies help banks and financial institutions combat financial crimes. AML regulations require banks to collect customer information, monitor and screen their transactions and report suspicious activity to financial regulatory authorities. Additionally, the AML holding period requires deposits to remain in an account for a specified amount of time (at least five trading days in the U.S.). Banks can use this holding period to help in anti-money laundering and risk management." (https://www.jumio.com/aml-guidance-banking-finance-2021/)
Financial scams and frauds using banks has greatly increased in recent years. Victims of fraud are unaware of this development, but banks are well aware of it and therefore ought to be even more diligent than ever. In other words, banks are more culpable than ever for insufficient Know Your Customer and Anti-Money Laundering practices in a setting where financial fraud has significantly increased and banks know it.
"Authorized Push Payment (APP) fraud losses have now outstripped fraud losses on bank and credit cards for the first time. Impersonation scams more than doubled (up 123%), investment scams rose by 95% and romance scams were up 62%." (https://www.finextra.com/blogposting/20949/could-poor-bank-kyc-part-the-problem-of-fraud) Given this, banks should be especially diligent to prevent their banks from being involved in APP scams.
Articles
https://www.finextra.com/blogposting/20949/could-poor-bank-kyc-part-the-problem-of-fraud
https://www.paymentsjournal.com/is-poor-bank-kyc-enabling-a-spike-in-fraud/
https://www.benthamsgaze.org/2022/04/29/us-proposes-to-protect-bank-customers-from-authorised-push-payment-fraud/
https://www.financierworldwide.com/when-are-banks-liable-for-not-spotting-fraud#.Y00vQb1Ol5Y
https://www.cnbc.com/2022/07/20/federal-watchdog-to-tighten-bank-rules-around-money-transfer-scams-.html
https://www.pymnts.com/bank-regulation/2022/congress-drills-bank-brass-on-authorized-push-payments-fraud/
https://www.reuters.com/business/finance/uk-banks-told-reimburse-customers-tricked-by-scams-2022-09-28/
https://www.addleshawgoddard.com/en/insights/insights-briefings/2022/finance/app-fraud-three-key-legal-developments/

SUNAK, if opinion polls can be believed:
https://www.aljazeera.com/news/2022/10/20/liz-truss-has-resigned-who-could-become-the-uks-new-pm
Yes, Truss was like a bad movie that you couldn't wait to be finished. Cue Judi Dench! why the hell not?

@hank -
Warren Buffett on diversification:
"Warren Buffett has famously said he is against diversification. "Diversification is a protection against ignorance," Buffett once said. "[It] makes very little sense for those who know what they're doing."

And I agree with him. Since 2000 when I started using my system, I never diversified and I used only several funds. For years I used 5 funds. Then I changed to only 2-3 funds and they are not equal. In 2000-2010, the SP500 lost money, in 2010-20, US LC , mainly growth were the best.

Britain's resurgent nationalism has so metastasized they will knowingly elect and re-elect a buffoon just to keep Britain "British." They used to say the sun never sets on the British empire. Now I don't even think it rises there anymore. It's funny but I could feel it when they held the Olympics in 2012 with the James Bond and Beatles themes--this sense of their being a second-world power trying to cling to their past colonial glory. It's over, England. Johnny Rotten had it right all along.

https://www.sec.gov/Archives/edgar/data/1418191/000141304222000878/walthfocusedsupp.htm
497 1 walthfocusedsupp.htm
WALTHAUSEN FUNDS
Walthausen Focused Small Cap Value Fund (WSVIX)
Supplement dated October 20, 2022 to
the Prospectus dated June 1, 2022
The Board of Trustees of Walthausen Funds (the “Board”) has determined based on the recommendation of the investment adviser of the Walthausen Focused Small Cap Value Fund (the “Fund”), 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 or about November 21, 2022.
Effective at the close of business October 20, 2022, the Fund will not accept any purchases and will no longer pursue its stated investment objectives. The Fund may begin liquidating its portfolio and may invest in cash equivalents such as money market funds until all shares have been redeemed. Any capital gains and ordinary income will be distributed as soon as practicable to shareholders. Shares of the Fund are otherwise not available for purchase.
Prior to November 21, 2022, you may redeem your shares, including reinvested distributions, in accordance with the “Instructions For Selling Fund Shares” section in the Prospectus. Unless your investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Dividends and Distributions” and “Taxes” sections in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.
ANY SHAREHOLDERS WHO HAVE NOT REDEEMED THEIR SHARES OF THE FUNDS PRIOR TO NOVEMBER 21, 2022 WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OF RECORD. IF YOU HAVE QUESTIONS OR NEED ASSISTANCE, PLEASE CONTACT YOUR FINANCIAL ADVISOR DIRECTLY OR THE FUNDS AT 1-888-925-8428.
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.
This Supplement and the existing Prospectus dated June 1, 2022, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information dated June 1, 2022, have been filed with the Securities and Exchange Commission, are incorporated by reference and can be obtained without charge by calling the calling the Fund at 1-888-925-8428 or by visiting the Fund’s website at www.walthausenfunds.com.

On the lighter notes
Musk say tsla most valued stocks going forward maybe 4X- 5X 10 yrs??
I need to smoke what he is smoking

PM Truss resigned.
If BJ comes back, that would give a new meaning to recall.
https://www.cnbc.com/2022/10/20/uk-prime-minister-liz-truss-resigns-after-failed-budget-and-market-turmoil.html

Twitter parody,

For the week ending on 10/19/22, Bearish remained the top sentiment (56.2%; extremely high) & neutral became the bottom sentiment (21.2%; extremely low); bullish became the middle sentiment (22.6%; extremely low); Bull-Bear Spread was -33.6% (extremely low). Investor concerns: Recession; inflation; supply-chain disruptions; the Fed; US elections; market volatility (VIX, VXN, MOVE); Russia-Ukraine war (34+ weeks); geopolitical. For the Survey week (Thursday-Wednesday), stocks were up, bonds down, oil down, gold down, dollar down. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/thread/141/aaii-sentiment-survey-weekly?page=7&scrollTo=811

Incredible. Boris is the Tory favorite to step back in as P.M. if Truss goes.

https://earlyretirementnow.com/2022/10/12/dynamic-withdrawal-rates-based-on-the-shiller-cape-swr-series-part-54/
plus the comments
site is in need of proofing, also dummies' summaries, plus fixes of what appears to be some sketchy java/html (?) coding; but possibly of interest to crunchers here

+1.

@Old_Joe, ^ is a symbol for power. Now to 2/14/23 is about 4 months, so the power (12/4) to annualize. Result is 1.04048, or rate 4.048% or 4.05%.