@Sven, I-Bonds and ST-TIPS (held to maturity) are for safer money. They try to pick up CPI + a few bps (40 bps for I-Bonds, 165 bps for 5-yr TIPS, 1/3/23).
LT-TIPS are for speculative money. I doubt that investors buying 20 or 30 year TIPS will hold them to maturity. In that case, BOTH will be subject to rate changes and duration - very volatile.
Personally, I would rather speculate with equities.
https://stockcharts.com/h-perf/ui?s=VTIP&compare=$$CPI,TIP,LTPZ&id=p52415712751

TIPSwatch has its 2023 annual guide to I-Bonds. They are compared with current alternatives - TIPS and CDs. Conclusion is less clear cut for I-Bonds in 2023 than it was in 2022.
https://tipswatch.com/2023/01/03/i-bonds-a-not-so-simple-buying-guide-for-2023/
BTW, as I have mentioned here and elsewhere I now prefer 5-yr TIPS held to maturity - they capture attractive 5-yr real-rate + CPI.

It appears that the pundits are united in proclaiming that 2023 is the year that bonds make a comeback. We shall see when that tide begins to turn. The only bond fund I've held throughout 2022 was PCI/PDI...underwater but still spewing notable cash into the IRA. I did pick up a floater in December, anticipating an upturn along with the notable distribution. I've yet to be convinced where a bond fund would outperform a MM fund or a 2 year laddered CD or Treasury which I could build at Schwab. A few preferred CEFs are looking very good though late 1Q.
In retrospect, I had a reasonable 2022 considering a 96% equity position, with a -9.1% effort. The stocks did well, with the CEFs/ETFs less so other than kicking off a solid dividend stream. My 6 chosen OEFs are certainly hoping for a better year. I'm looking for a recovery over the next 12 months, but I'm doing very little different..adding to a few items which contribute to the dividend production, but nothing significant in terms of shifting the portfolio.

Hi @hank
You noted:

picking up 100 shares of one of Cathie’s badly devastated holdings. (No longer identify specific stocks, but folks can probably guess.)

ARKK....yes? What is the 'no longer identify specific stocks' part mean? Referencing to what is held inside the etf?
Thanks,
Catch

I did a little poking around when doing a writeup on ESG investing. Criteria and metrics are all over the map, so one needs to take care and understand the underlying methodology in looking at any scorecard. With all that said, a site I found useful (and one that Kiplinger lauds), is As You Sow - Invest Your Values.
https://www.asyousow.org/invest-your-values/
Lots of criteria with fund ratings and explanations. Here's their list of top fossil fuel free funds. Clicking on a particular fund will take you to a page that explains the letter score.
https://fossilfreefunds.org/funds
It really is important to go past the grade and understand what is going on. For example, it rates ZGEIX a 'D' on fossil fuels (though 'A' on all other ESG criteria). That low score comes from the fact that 5.51% of its portfolio invests in a single "bad" company, NextEra Energy (NEE).
Here are a couple of scorecards on NextEra Energy:
ClimateAction 100+ takes a very unfavorable view https://www.climateaction100.org/company/nextera-energy-inc/
Sustainalytics (a M* subsidiary) reports NextEra Energy's biggest ESG concern to be carbon.
https://www.morningstar.com/stocks/xnys/nee/sustainability
Is a 5.5% ownership stake enough to downgrade what appears to be an otherwise fine fund? Don't know.
With regard to New Alternatives, that's a fund I've loosely followed for a long time. Over the past several years it has performed well. My suspicion is that this reflects the world catching up to what it has focused on for decades.
As a mutual fund, it provides a rare window into marketing costs. You gave the ticker NALFX. Those are the older A shares, that come with a load. The newer, no load NAEFX shares have a higher ER due to their 12b-1 fee.
E*Trade sells NALFX NTF, and Schwab sells it TF, load waived. But these are likely new developments and most brokers sell it with the load. So an investor has a choice of paying for the transaction up front with a load, or paying it over time, with a 12b-1 fee. One way or another (except for E*Trade) one pays for the transaction service.

Thanks, Yogi. Yes, he told me that more than likely, the K-1 would be ready in March. They would be able to be more accurate about the time frame if I were to call back in February. Of course, this business is not the fault of the agent I spoke to. I made that clear to him.

About as extended now as care to go. The % held in the ”fixed-income” segment serves as a “gauge” of how much risk I’m undertaking. 22.5% of portfolio would be neutral. Today I took it down to around 19.4% in picking up 100 shares of one of Cathie’s badly devastated holdings. (No longer identify specific stocks, but folks can probably guess.)
Otherwise, stay the course. Defer taking distributions long as possible this year. I do think Price’s TCHP (ETF version) or TRBCX (mutual fund version) look like very good long term holds after falling 35% or more in 2022. On the radar, but it would take a much lower NASDAQ before I’d commit any funds to one of them.
Non-topical perhaps … Also planning to take in some Broadway shows and spend time on the beaches at Hilton Head in coming months. You know what they say about “All work and no play …” :)

I am now K-1 free!
But until a couple of years ago, I used the PWC site (registration required) that consolidates reporting of most K-1s. Typically, they start to become available in mid/late-March.
https://www.taxpackagesupport.com/

I have been exploring funds focused on investing in "climate Change" which is a very nebulous focus, but essentially includes renewable energy, electrical efficiency, basic materials and minerals required for renewable energy, carbon capture, recycling, and mitigating the effects of climate change on society
I have tried to avoid ETFs and funds based on indexes as I believe this is essentially an engineering problem and requires active management to pick the companies most likely to be successful. An alternative is to use ETFs focused on minerals and resources required for renewable energy and electrification, like Copper, rare earths LIT etc.
There is not a specific category yet, I searched M* database looking for appropriately named funds. I have been able to find a number of funds, but most have limited track records, as they started in 2020 or 2021. NALFX has a long track record, and is widely available. Others to consider include GCEBX, RKCIX, HEOMX, and an ETF run my the group that put two climate activists on XOM board NETZ.
Vanguard recently stated a "Global Environment Fund" VEOIX and VEOAX run by a South African management company "Ninety One" mimicking the strategy in their existing fund ZGEIX at less cost. ZGEIX is supposedly available on many platforms, but not Schwab or Fidelity that I can determine.
GMO, prodded by Jeremy Grantham, has run a great fund for several years GCCHX, but it requires $1,000,000 minimum.
Another alternative is Valueline, which publishes a "Climate Change Portfolio" with about a dozen stocks with monthly reports for $200
Has anyone else looked into this?

Obviously an east Indian fellow. Great start. At least we WERE able to communicate in English. That's not always the case. ... I called because the tool on the website would not let me sign-up to receive by email an alert, so I would know when the K-1 tax form is ready.
I was willing to give him all the information he might need to correct the situation, so that I could be informed by email when that K-1 is ready for me.
...He told me that the tool is DESIGNED not to let people like me use that tool---- until I already had a K-1 generated either from a previous year, or the one from '22 is ready, because I only started buying shares in 2022.
My quality suggestion to him was that some GENIUS somewhere needs to include that essential piece of information on the website, so that shareholders like me don't waste their time trying to use a tool that we are essentially locked-out from using.
Uncle Lewis Black describes just such a situation:
You walk into a public restroom and use the facilities. You flush the toilet, and the toilet water hits you in the face. As you're turning to leave, you notice a sign on the back-side of the door behind you: "Warning: toilet water may hit you in the face."
Only in THIS case, there is not even a sign in the WRONG place. No one has any way of knowing what's going on unless you take the time to call "Customer Service" so that you can be told just what's going on. And what's going on is a Cluster-F***.

@FD1000
>> You can make several % more in managed bond fund, this is where they shine.
go on, please (as always)
DODIX was down just under 10% for the year, a few percent better (yes) than FTBFX, FBND, AGG, BOND, and the others, not as good as PONAX (a bit better than -8%). STIP down a bit over 2%.

What changes (if any) do you plan on making to your portfolio in 2023?
Why are you making (or not making) a change in 2023?
I'll start...
Overall, I'm relatively pleased with my current portfolio positioning.
My stable value fund was exchanged for DOXIX on 12/30/2022 since bond yields have increased significantly.
Dollar-cost averaging into my 401(k) and HSA accounts will continue for MIEIX "clone" and PRILX respectively.
I plan to purchase additional shares of VPCCX and VPMCX (up to annual purchase limits) later in the year.
Some of the cash remaining in money market funds/T-Bills will be redeployed.
There are no concrete plans for this cash but I'm considering TIPS, munis, and small-cap/mid-cap foreign equity.
My portfolio doesn't have any dedicated exposure to these three investment categories.

There seem to be several "mostly closed" funds that are listed as open at E*Trade. Closed funds often have a loophole - that you can open a new account if you are investing through an advisor who already has money with the fund. (Another common exception is investing directly with the fund.)
So I'm wondering whether these funds are really open to DIY investors, or whether you need to be working with a Morgan Stanley Financial Advisor, or whether a personal rep as @fundly mentioned suffices, or ...
Here are some (semi) closed funds that E*Trade shows as open:
ARTJX - investor class (1.31% ER), $1K min
APDJX - advisor class (1.15% ER), $0 min
(Other closed Artisan funds, e.g. ARTFX, ARTKX are closed at E*Trade.)
RPHYX - retail class (1.14% ER), $100 min
RPHIX - inst class (0.89% ER), $100K min
CIPNX - inst class (1.01% ER), $0 min
(The more expensive advisor class CIPSX is closed to new investors.)
DHMAX - inv class (1.21% ER), $2.5K min
(Another closed DH fund, DHLAX, is closed at E*Trade.)
Franklin Templeton - cheaper Advisor shares of some funds are open (e.g. FGADX, FRDAX); most brokerages sell more expensive A shares NTF. Also open are institutional shares of some Salomon Bros/Smith Barney legacy funds (now branded Clearbridge), such as SAIFX and SBLYX.
Invesco - older, cheaper Investor shares of some funds are open (e.g. LCEIX, FSTEX); most brokerages sell more expensive A shares NTF
PEMGX - A shares, NTF (0.93% ER), $1K min
PCBIX - inst class (0.67% ER), $0 min

@Observant1, you have made some excellent moves too. Now, what are you planning for the new year? Perhaps this should be in a new tread.

That is nuts for Blackstone to meet that 11% return for next 6 years. That is several % higher than average stock return.

UC invests $4 billion in a special class I of BREIT that will guarantee 11.25%+ return over 6 years. Sort of an expensive financing for BREIT. UC reached out to Blackstone/BX for the deal.
https://finance.yahoo.com/news/blackstone-breit-gets-4-billion-133750550.html

Down 11.5% this morning on top of a near 73% loss in 2022.
“When it rains, it pours …”
https://www.webullapp.com/news-detail/7961738086763520
https://www.webull.com/news/7954778224053248

With respect to PRWCX’s time horizon, Giroux stated several times that he invest with the goal to match the return of S&P500 within a full market cycle but with less volatility. He has done that more than once. Question is his fund is much bigger now, can he still meet his goals going forward?
-
Here’s PRWCX’s expected time-horizon as stated by Giroux in PRWCX’s Semi-Annual Report - June 31, 2022:
“Before we discuss fund performance, I would like to review the three goals of the Capital Appreciation Fund:
(1) Generate strong risk-adjusted returns annually
(2) Preserve shareholder capital over the intermediate term (i.e., three years)
(3) Generate equity-like returns with less risk than that of the overall market over a full market cycle (i.e., normally five years)”
-
As I understand Giroux’s words, they mean that if you had money in his fund on January 3, 2022 when the markets / fund topped-out, you can expect to get back to “break-even” no later than January 3, 2025. That would appear to be in nominal dollars - not inflation adjusted. Hypothetically, should inflation run at a 5% annual rate over that 3-year period, you’d be “poorer” in purchasing power by about 15%. (Of course, Giroux seems to view this as a worst case scenario.)

+1.

Chenai is home to Kollywood. Not exactly a hotbed of the sort of Hindu nationalism Modi's BJP is all about.
For those that don't subscribe to the NYT the story can be found here>