@linter. Thanks for your question. I hold a good slug of CTFAX in my taxable account. Overall about 65 percent of my investments are held in taxable accounts since I have been an investor for the past sixty plus years from the age of twelve. And, simply stated ... I feel I'd be buying the distribution if purchased now. Yesterday, CTFAX sold down equities from an allocation of 70% to 40%. This sell activity will no doubt result in a sizeable capital gain payout in the upcoming June distribution.

Hi @Bobpa, My portfolio generates more income than I presently need. With this excess I continue to invest it back into my portfolio and grow my investment farm. At one time, I thought I'd reduce my asset allocation to produce just my my current income needs. But, as Lee Iacocca use to say ... "Lead, Follow or Get Out of the Way!" So, if you are not growing your principal you are losing to inflation. With this, I looked at what a conservative asset allocation (30% to 50% equity) would produce over time and I came up with somewhere between 4% to 6%. Trade around the edges, as I have done, and perhaps get up to 8%. I use to do a good number of spiffs from time to time. I see you list CTFAX as one of your choices. I like the fund and now, I let CTFAX automatically do some of my spiff positioning, for me. As you can recently see in this stock market volatility it has proved it's metal as it adjust its equity allocation based upon the movement of the S&P 500 Index. I plan to buy more of CTFAX after it makes it's June distribution.
You might also want to look at convertible securities funds. The one I use is FISCX.
In addition, my asset allocation is as important, to me, as the funds that I hold within my portfolio along with my investment strategy. My base line allocation is 20% cash, 40% income and 40% equity. From there I can tweak this up of down + (or -) five percent and generally rebalance at + (or -) two percent from my target allocation. When stocks go on sale why not own more of them? Currently, my temporary asset allocation while I'm playing this stock market pullback is 15% cash, 40% income and 45% equity. I recently let my equity allocation peak at 49% and then booked some profit reducing it to 47%. I'll be booking some more profit soon and I will be trimming equity back to 45%. From here I'll let it again move upward as the stock market recovers and trim again booking some more profit. And, keep on keeping on by repeating the process.
Something to ponder? Yes.
I wish you well with your investing endeavors.
Old_Skeet

I hope it is also one of the best 5 buying opportunities of his investors life. He will always earn management fees and buy yachts regardless of what's happening in the markets or the price of oil.

Yeah, it's a tough time, and I think going to get tougher, more than is being priced in now.
Since Feb 23, AOK and VWINX are about even, with the former showing bigger dip / recovery. Down over 5%, but only that. Praise the Lord.
AOM is a bit behind them, naturally. Two brutal months.
JABAX, FPURX, VLAAX, VWELX, and now VALIX are all bundled back around about the same point today, down 10% plus or minus, with the last one having the greatest dip and recovery over the last 2mos, the others closely tracking and less of a dip.
Of course all have different allocation proportions, but then almost everything has swung in step during this time.
You could conclude that you were simply going to put everything into some mix of AOK and AOM from now on, as someone recently recalled attention to, heading into a dicy future. But as msf and others have pointed out, you could probably do better with some effort and more than some luck. (Famous last words.)
I did not have the energy tonight to plot all of these allocation funds against my bespoke combo of CAPE, VOOG, and BND, so there.

Fidelity for me and others who like to invest in Instit funds and trade sometimes is a better choice. That's how I invest.

Fidelity?

- Schwab has a better online platform. It’s easier and more intuitive.

What's your metric? Something quantifiable, like time to complete tasks. If it can't be quantified, then the comparison is merely subjective.
For example, something I do often is look up a fund on a brokerage site. Just enter a ticker or fund name in the search box on Fidelity's home page. Easy and intuitive. Do the same search from Schwab's home page and get lots of links to scan through (for a search on fund name) or no results (for a search on fund ticker).
To get to fund data at Schwab: Use the drop down "What We Offer"; find Mutual Funds in the second column, click to next page. Scroll half way down that page for the "Browse Mutual Funds" link. Click to next page. Finally, a fund search box. Easy? Intuitive? Not.
To be fair, getting to Fidelity's fund screener is no more intuitive than getting to Schwab's. Navigation to a screener is lousy on both sites.

- Schwab offer more lower min funds. Examples: 1) All Pimco Instit shares have one million min at Fido but just $100K at Schwab. This means that for every $100K you will save $250 at Schwab per year 2) JMSIX,IISIX are NTF and Schwab but not fidelity. Many Fidelity customers buy these funds at other brokers and transfer.

How do others like you add to those Instit funds, like say, PIMIX, without incurring nearly $50 in fees every time, as opposed to $5 at Fidelity?
You're a numbers guy. Please quantify "more" in "more lower min funds". Otherwise, the comparison even if true, could be statistically meaningless, e.g. if Schwab offered 201 lower min funds while Fidelity offered 200.
What does "lower min funds" mean? Lower than stated in the prospectus? Lower than some fixed threshold? What threshold, $100K?
One can buy most Loomis Sayles Inst funds with a $2500 min at Fidelity, but they have a $100K min at Schwab. (The exceptions are LSFIX which is closed, LSIOX, LSHIX, LSIGX, and LSSAX, not offered.) You say PIMCO, I say Loomis Sayles. Naming individual funds or families doesn't substantiate the claim, let alone show that it's meaningful. Numbers please.
FWIW, All Pimco Instit shares have ... just $100K at Schwab" isn't correct. PCEIX, $1M min.

- Schwab reps will work harder to please you with fees, Fidelity reps are much tighter. In the last several years I got over $3500 cash rewards from Schwab after a transfer money from Fidelity which doesn't pay cash reward, I get free transactions on Istit share (extremely hard at Fidelity). I always ask for stuff and get it most times at

As the saying goes past performance does not guarantee future returns. Fidelity also provided sizeable bonuses in the past. Right now, Schwab isn't offering any promotion that I can find for existing customers.

- Schwab has a global ATM with a true no fees, Fidelity ATM has a 1% foreign transaction fee for other currencies

Not quite. Fidelity only reserves the right to assess the charge. Fidelity doesn't usually charge it. I even tested this a couple of years ago, by withdrawing the same amount using Schwab's card and Fidelity's. Each of the respective accounts was debited the same amount. That's when I decided that Schwab bank wasn't providing me any benefit.
Since you raised the matter of plastic, Fidelity's Visa credit card pays 2% vs 1.5% cash back from Schwab's American Express card. Amex, really?
Foreign transaction fees: After subtracting a 1% fee, Fidelity's card still nets 1% in cash rewards. Schwab's charges 2.7%, netting -1.2%. No wonder you're looking at Schwab's ATM card for foreign spending.

- Schwab target funds and ETF are cheaper than VG and Fidelity and most have just $1 min.

This is a thread about sector funds. So let's look at costs of Schwab sector funds. No tech, just a health care fund (SWHFX, 0.80% ER vs. 3 Fidelity sector funds with ERs between 0.71% and 0.76%), and a global real estate fund (SWASX, 1.05% ER vs. FIREX at 1.02%), not even any domestic real estate funds (Fidelity has two).

- Schwab doesn’t have a good sweep MM but you can just use SWVXX with competitive yield and trade in/out like any other fund and it doesn’t have a minimum. Fidelity makes it harder with several funds and different minimums.

At worst, that's a one time effort to pick the right fund. At Schwab, every time you want to make a security purchase, you have to remember to explicitly sell shares of your MMF. Fidelity takes care of this for you automatically.

Running Fidelity's Mutual Fund comparison tool, RBBAX returns less than VWINX or BACPX but is highly ranked in the 15% to 30% allocation segment.

MassMutual stole $50 in order to redeem and cash-out wifey's 403b. (Direct Rollover.) Mairs and Power took $20, when I cashed-out from them. We all like low fees. I'm just letting everyone know. Mass Mutual sucks pus from rat butts.

"I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%. And I don't need to wait 3 years to get ER=50%"
That's true. WIth FSPTX you'll need to wait forever to get an ER of 0.50%.
"Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?"
Yes.
Can you find a big discount broker that has a $25K min (or less) to buy Pimco Instit shares (example PIMIX)?
Since you mentioned FSPTX, can you find a big discount brokerage aside from Schwab that has a $2500 min to buy the fund in a taxable account? Can you suggest brokerages where one can buy this fund without a fee?
Schwab apparently meets your needs. I'm happy for you, really. It's a great brokerage. But your needs are not the same as those of others.
You wrote that you "never tell [others] to use [your] style, never, [you] helped them using their style." That makes the blanket marginalization of Fidelity ("lost its way") tantamount to saying that independent of an investor's style, Fidelity is a poor choice.
When Schwab makes additional purchases of share classes like PIMIX available for less than $10/purchase, I'll consider it. When Schwab starts letting me pay bills out of a cash account with a decent yield (not just 0.05%), I'll consider it. Until then, it doesn't meet my needs.

You got it. Fidelity for me and others who like to invest in Instit funds and trade sometimes is a better choice. That's how I invest. If you just buy and hold then VG maybe your choice.
- Schwab has a better online platform. It’s easier and more intuitive.
- Schwab offer more lower min funds. Examples: 1) All Pimco Instit shares have one million min at Fido but just $100K at Schwab. This means that for every $100K you will save $250 at Schwab per year 2) JMSIX,IISIX are NTF and Schwab but not fidelity. Many Fidelity customers buy these funds at other brokers and transfer.
- Fidelity has strict trading rules not found anywhere else and not mandated by agency, SEC or anybody else. Examples:
1) if you sell a fund in your IRA, you can't buy another online, you must call a rep and spend time
2) Even if you sold a fund and call a rep you can only buy at 90% of the proceed. At Schwab it’s easy, you sell your fund and just enter another fund. For bond fund I buy at 99.5% for stock funds I buy at 98-99% because I look at what markets are doing
3) Suppose you own mutual funds in your IRA and you don't have any cash and want to buy a stock/ETF, you can't do it, you must sell your fund and wait one say for settlement. At Schwab, you just buy your ETF, see how much you own and sell your mutual fund to cover it. This is a huge advantage for me. Over the years I'm invested at 99+% but I trade several times annually. That means thousands of dollar which I can't do at Fidelity because I must have it in cash.
4) Schwab doesn't care if you trade their funds, Fidelity will punish you on a roundtrip less than 30 days.
I basically want all the flexibility I need/want.
- Schwab reps will work harder to please you with fees, Fidelity reps are much tighter. In the last several years I got over $3500 cash rewards from Schwab after a transfer money from Fidelity which doesn't pay cash reward, I get free transactions on Istit share (extremely hard at Fidelity). I always ask for stuff and get it most times at
- Schwab was always/mostly the leader for lowering fees vs Fidelity
- Schwab has a global ATM with a true no fees, Fidelity ATM has a 1% foreign transaction fee for other currencies
- Schwab IT is more advanced and faster. Example: Funds dist are placed in your account on the same day at Schwab. It takes Fidelity most times 2 more days. Fidelity FULL VIEW(where they link all accounts from other institutions) was broken for months and still can be off. Schwab has a similar feature and it works better and faster. If you traded funds you will see it at Schwab the same date with all the settlement while it takes Fidelity longer.
- Schwab target funds and ETF are cheaper than VG and Fidelity and most have just $1 min.
- Schwab doesn’t have a good sweep MM but you can just use SWVXX with competitive yield and trade in/out like any other fund and it doesn’t have a minimum. Fidelity makes it harder with several funds and different minimums.
- In the last 2-3 year, Fidelity reps knowledge deteriorated significantly.
- At tax time I have been waiting at Fidelity 15-20 minutes for a rep to answer while I never waited more than 1-2 minutes at Schwab.

Honestly, you are 100% misinformed on Fidelity. If you sell a fund in your IRA, you can’t buy another online? That’s just straight up false.

"I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%. And I don't need to wait 3 years to get ER=50%"
That's true. WIth FSPTX you'll need to wait forever to get an ER of 0.50%.
"Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?"
Yes.
Can you find a big discount broker that has a $25K min (or less) to buy Pimco Instit shares (example PIMIX)?
Since you mentioned FSPTX, can you find a big discount brokerage aside from Schwab that has a $2500 min to buy the fund in a taxable account? Can you suggest brokerages where one can buy this fund without a fee?
Schwab apparently meets your needs. I'm happy for you, really. It's a great brokerage. But your needs are not the same as those of others.
You wrote that you "never tell [others] to use [your] style, never, [you] helped them using their style." That makes the blanket marginalization of Fidelity ("lost its way") tantamount to saying that independent of an investor's style, Fidelity is a poor choice.
When Schwab makes additional purchases of share classes like PIMIX available for less than $10/purchase, I'll consider it. When Schwab starts letting me pay bills out of a cash account with a decent yield (not just 0.05%), I'll consider it. Until then, it doesn't meet my needs.

You got it. Fidelity for me and others who like to invest in Instit funds and trade sometimes is a better choice. That's how I invest. If you just buy and hold then VG maybe your choice.
- Schwab has a better online platform. It’s easier and more intuitive.
- Schwab offer more lower min funds. Examples: 1) All Pimco Instit shares have one million min at Fido but just $100K at Schwab. This means that for every $100K you will save $250 at Schwab per year 2) JMSIX,IISIX are NTF and Schwab but not fidelity. Many Fidelity customers buy these funds at other brokers and transfer.
- Fidelity has strict trading rules not found anywhere else and not mandated by agency, SEC or anybody else. Examples:
1) if you sell a fund in your IRA, you can't buy another online, you must call a rep and spend time
2) Even if you sold a fund and call a rep you can only buy at 90% of the proceed. At Schwab it’s easy, you sell your fund and just enter another fund. For bond fund I buy at 99.5% for stock funds I buy at 98-99% because I look at what markets are doing
3) Suppose you own mutual funds in your IRA and you don't have any cash and want to buy a stock/ETF, you can't do it, you must sell your fund and wait one say for settlement. At Schwab, you just buy your ETF, see how much you own and sell your mutual fund to cover it. This is a huge advantage for me. Over the years I'm invested at 99+% but I trade several times annually. That means thousands of dollar which I can't do at Fidelity because I must have it in cash.
4) Schwab doesn't care if you trade their funds, Fidelity will punish you on a roundtrip less than 30 days.
I basically want all the flexibility I need/want.
- Schwab reps will work harder to please you with fees, Fidelity reps are much tighter. In the last several years I got over $3500 cash rewards from Schwab after a transfer money from Fidelity which doesn't pay cash reward, I get free transactions on Istit share (extremely hard at Fidelity). I always ask for stuff and get it most times at
- Schwab was always/mostly the leader for lowering fees vs Fidelity
- Schwab has a global ATM with a true no fees, Fidelity ATM has a 1% foreign transaction fee for other currencies
- Schwab IT is more advanced and faster. Example: Funds dist are placed in your account on the same day at Schwab. It takes Fidelity most times 2 more days. Fidelity FULL VIEW(where they link all accounts from other institutions) was broken for months and still can be off. Schwab has a similar feature and it works better and faster. If you traded funds you will see it at Schwab the same date with all the settlement while it takes Fidelity longer.
- Schwab target funds and ETF are cheaper than VG and Fidelity and most have just $1 min.
- Schwab doesn’t have a good sweep MM but you can just use SWVXX with competitive yield and trade in/out like any other fund and it doesn’t have a minimum. Fidelity makes it harder with several funds and different minimums.
- In the last 2-3 year, Fidelity reps knowledge deteriorated significantly.
- At tax time I have been waiting at Fidelity 15-20 minutes for a rep to answer while I never waited more than 1-2 minutes at Schwab.

"I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%. And I don't need to wait 3 years to get ER=50%"
That's true. WIth FSPTX you'll need to wait forever to get an ER of 0.50%.
"Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?"
Yes.
Can you find a big discount broker that has a $25K min (or less) to buy Pimco Instit shares (example PIMIX)?
Since you mentioned FSPTX, can you find a big discount brokerage aside from Schwab that has a $2500 min to buy the fund in a taxable account? Can you suggest brokerages where one can buy this fund without a fee?
Schwab apparently meets your needs. I'm happy for you, really. It's a great brokerage. But your needs are not the same as those of others.
You wrote that you "never tell [others] to use [your] style, never, [you] helped them using their style." That makes the blanket marginalization of Fidelity ("lost its way") tantamount to saying that independent of an investor's style, Fidelity is a poor choice.
When Schwab makes additional purchases of share classes like PIMIX available for less than $10/purchase, I'll consider it. When Schwab starts letting me pay bills out of a cash account with a decent yield (not just 0.05%), I'll consider it. Until then, it doesn't meet my needs.

Plus, from across the pond:

The European Central Bank said on Wednesday it would let banks post collateral that was downgraded to junk during the coronavirus outbreak to prevent a credit squeeze in the euro zone.

https://reuters.com/article/ecb-policy/update-1-ecb-accepts-junk-bonds-as-collateral-to-help-virus-hit-banks-idUSL5N2CA7CV

Inflation? My starting point, from decent definition: Inflation is a measure of the rate of rising prices of goods and services in an economy. Inflation can occur when prices rise due to increases in production costs, such as raw materials and wages. A surge in demand for products and services can cause inflation as consumers are willing to pay more for the product.
Obviously, there are several common areas that may cause broad inflation. Broad inflation, however; may be impacted more from some select sectors and how these sectors affect an individual household, IMHO. Example: While both personal healthcare needs (insurance, meds, etc.) and technology (computers, smart phones) are of great benefit for a household; their inflation paths likely have a bigger bang for the buck, over time. We have supplemental health insurance through United Health....it's expensive, well; until you need it. So, the offset, to pay for the insurance could be to buy United stock or a healthcare fund that has United stock as part of the portfolio. We may think the insurance cost is way out of line, but if this is the case; then holding the stock/fund should be of benefit and effectively the profit will pay for the premiums over time. As for technology and the consumer side, is that one has been able to upgrade, if desired; the ability of the product.......computers, smart phones, flat screen televisions, etc. If one has been investing in technology over the years, the likely profits have more than paid for the tech. upgrades one desires.
Investing in growth should provide, over time; enough to overcome broad inflation. Though a S&P 500 investment product should provide for growth too, as a reflection of the economy; for us, there remain sectors in the S&P 500 which we do not choose to invest, although this investment offers diversification. There are numerous quality growth funds, etf's or sectors within the growth area, to choose. Healthcare and tech. are ,of course; subject to their own problems with performance over time periods.......as in legislation that may affect profits, etc.; or too expensive and the big money takes profits and runs to another sector. Such, is the nature of all investing, eh?
OPPS, ADD: CPI (gov't. only data) 1971- April 10, 2020 = 537.3% AND Jan., 1999 - April 10, 2020 = 54.5%
NOTE: Our investment portfolio is fully tax deferred (IRA's), so we do not have to be concerned with buys/sells or capital gains when moving our investments. Taxable accounts will have other considerations; although long term investing in growth should not be set aside for this reason, IMHO.
My 2 cents worth.
The below chart is a line graph, for an easier view of returns; click the lime green/red icon at the bottom left of the chart screen for a bar graph. You may return to the line graph when clicking the icon adjacent.
This CHART starts at Jan. 4, 1999 comparing FSPHX, FSPTX and the S&P500.
Take care of you and yours,
Catch

So, instead of buying Fidelity Disruptive Technology Fund (FTEKX) with ER=1% I can just buy Fidelity® Select Technology Portfolio (FSPTX) with ER=0.72%
And I don't need to wait 3 years to get ER=50%.
Fidelity lost its way for several years now. Please give me other family funds for lower min and more Inst fund with no fees and please let me sell a fund and buy another online on the same day without calling a rep...or...buy a stock and then sell a mutual fund to cover it when I don't have any cash(doable at Schwab). Can you find another big discount broker that has one million dollar min to buy Pimco Instit shares(example PIMIX)?

Now that Fidelity has no fund minimums, you could throw $50 or $100 at these funds and see how they perform !

If this appeals at all, consider making a minimum investment and waiting three years. Then all investments will receive the lowest share class ER.
This differs slightly from the way class B shares were handled by load funds. Traditionally any new B share you bought would have its own clock. After a certain number of years (typically 5-10) the share would automatically convert to the cheaper A class share.
Which makes me surprised that Barron's considers "time based pricing" something new for the industry. Fidelity is simply converting shares from the initial share class to Loyalty Class 1 shares, and later to Loyalty Class 2 shares. Same idea as converting B shares to A shares based on time.

https://www.fidelity.com/mutual-funds/investing-ideas/disruption
https://www.barrons.com/articles/these-fidelity-funds-will-get-cheaper-the-longer-you-own-them-51587504789
Thoughts?

...but doesn't he have a real nice boat somewhere?
Would have been better off laddering CDs and investing in 90 day Tbills over the past 5 years...and you wouldn't have had to pay state taxes on the Tbills, nor his management fees.
...maybe he's going to return the management fee monies like Harvard U?

Good briefing yesterday from the folks at Bloomberg ...
Ever hear of ARKK or CLIX?
https://1drv.ms/b/s!AmF1g-5ef-jIk81qnsOLJw_LlR9ekA

A couple of big name fund guys are bullish on stock market opportunities...

Miller said only four other times have stocks have been as attractive: In 1973-1974 when the Vietnam War was going on and Richard Nixon had resigned as president; in 1982 after Mexico defaulted on its debt; in 1987 following Black Monday; and in 2008-09 during the last financial crisis. "If you missed the other four great buying opportunities, the fifth one is now front and center," wrote Miller, who is now the chief investment officer and founder of Miller Value Partners in Baltimore.
Justin Thomson, a chief investment officer for T. Rowe Price Group Inc. (NASDAQ: TROW) who oversees international equities, also offered some guidance to help investors thrive.....he sees a buying opportunity...."I should emphasize that truly great companies are rare," Thomson wrote in a white paper. "Opportunities to buy great companies at great prices are even rarer. We are currently at one of those moments."

https://bizjournals.com/baltimore/news/2020/04/21/bill-miller-this-is-one-of-the-5-greatest-buying.html?ana=yahoo&yptr=yahoo

Howdy,
I won't talk about the metals as you've covered it. One of the oldest and most important (to me) quotes I've ever read was from the Elder Baron Rothschild. He said to guard against economic downturns, one should have 1/3 of their wealth in securities, 1/3 in real estate and 1/3 in rare art. Note that he's talking Wealth, not your asset allocation for your 401K. Also, you can substitute many things for Rare Art but in ain't Beanie Babies.
Take a few minutes and run your own numbers. Now wipe off your computer screen. Most people will be something like 80/15/5 . . . or worse.
I've been working at it for years now and still have never gotten to 33/33/33. That said, I'm better today than when I first looked at it.
I know it doesn't answer your question but it may serve as some strategic guidance.
Good luck,
rono