FYI: Last week, we reported that the ETFMG Alternative Harvest ETF (MJ) was on a tear—and it's showing no signs of slowing down.
Over the past month, MJ has surged 31%, making it the best-performing ETF in the U.S by far. In comparison, the SPDR S&P 500 ETF Trust (SPY) is only up 2% over the same period:
Regards,
Ted
https://www.etf.com/sections/features-and-news/etf-week-marijuana-etfs-meteoric-rise
Bloomberg Article On MJ:
https://www.bloomberg.com/news/articles/2018-09-07/canadian-weed-etf-passes-billion-dollar-mark-as-pot-stocks-surge

There are so many being mentioned, will be hard to choose just one. I have ARTGX and IWIRX which have been mentioned each for over 5 years, happy with both, but I also added GSIHX this year. New shop, with a manager that has an excellent reputation from Virtus, which I held for a long time. He left and formed the GQG Partners. Worth a look. If this is your only exposure to foreign , I would likely go with one of Vanguard's funds and later spread out to others as money and risk permit you.

RPGAX

(RPGAX) Not global "equity"

I agree with both of you. T. Rowe classifies RPGAX as an "allocation fund". They offer a great many diverse funds under that category - and I've owned a few, including RPGAX which I purchased almost at inception.
But one could certainly view it as a very conservative global fund. I'm not sure what @ep1 is really looking for, or what his/her needs and expectations are. But, possibly he's interested in something with global exposure that won't give too wild a ride. As badly as the U.S. domestic funds performed in '07-'09, the global and international funds did about 10% worse on average - many falling more than 50% peak to bottom.
Here's Fidelity's take on the terms "global" and "international: "... international stock funds primarily invest in companies outside of the U.S. Global stock funds have the ability to search for investments in both U.S. and non-U.S. companies". https://www.fidelity.com/learning-center/investment-products/mutual-funds/what-are-international-global-stock-funds
That said, the two terms are often used interchangeably by many here (and probably in the press). My motto is to read the annual and semi-annual fund reports and make your determination based on what the fund typically invests in. I'm not recommending RPGAX (perhaps best described as a "balanced fund with international and domestic exposure") because it doesn't fit the strict definition of global fund. But, I wouldn't be too hard on @Crash for throwing it out there for consideration.
Maybe @ep1 would clarify what his/her purpose is in seeking out a global fund. Does he own another one that has not met expectations? Is he a new investor and very young individual seeking maximum growth potential over a 30-40 year time horizon? Is he frightened by the U.S. markets for some reason and seeking to invest outside the U.S.? Or, perhaps, is he seeking advise to pass on to a family member? (These things do matter.)

.....finance timelines below.
2007 Financial Markets Timeline

2008 Financial Markets Timeline
2009 Financial Markets Timeline
I may add a bit more; but have other appointments today, in my timeline.
Take care,
Catch

@johnN: If you keep stepping on my toes, I'm going to need to buy a pair with steel toes. I get the same Tom Madell E-Mail that you do, and could have linked his monthly letter before you but as a courtesy to you I didn't. Let's knock ii off.
Regards,
Ted :(
https://www.mutualfundobserver.com/discuss/discussion/43356/vanguard-introduces-low-cost-total-world-bond-etf-bndw#latest

Not knowing what type of global fund you seek or how much you plan to invest below is a list of funds with a global perspective that I own. I have listed them by sleeve and by the area where the sleeve is held within my portfolio. A good number of these funds are A share class funds; however, many of them also have other share classes available for purchase. Especially, The American Funds which can be bought for as little as $250.00 for an opening position while others will require up to a minimum of $5,000.00. I'm thinking you'd find it of good interest to Xray each one of them or at least review their Morningstar fund report. In this way you can view how each is positioned, the type of assets are held, along with their asset allocations plus other details. Some generate income while some others are geared towards growth.
Global Equity, G&I Area: CWGIX, DEQAX & EADIX
Global Hybrid, G&I Area: CAIBX, PMAIX & TIBAX
Global Growth, Growth Area: ANWPX, FWAFX, NEWFX & SMCWX
Theme & Specialty, Growth Area: LPEFX, PCLAX & PGUAX

THAT, I believe, would be a wise strategy. No need to wait for year-end, and the averaging works automatically, without even thinking about it. That seems the best way to go. I just had my brother the banker here talking about this stuff. But he did not want to give much specific advice. He did advise 30/stocks and 70/ bonds, at age 65 (next birthday.) I need to really get some more juice out of my bonds, looking forward to a new address and higher---not lower--- expenses. The move out West will depend on wifey getting work out there at roughly the same salary. Should not be a problem. She has excellent evaluations and we do have a personal connection out there. ...I don't think I want to exit that fund PRWCX completely, though. If I transfer my entire MAPOX into TRP, then I'll be left with only a single fund which is NOT under the TRP umbrella: PTIAX multi-asset bonds, and PTIAX is the only one NOT in Trad. IRA. Should the DCA-ing be done weekly or monthly, do you think? @Derf.

Good question, that. Shortly, I'm going to bite the bullet and switch gears from growth-mode to income mode. I will be deliberately moving to own less in equities and to a position of being overweight in bonds. Change is hard even when it's clearly appropriate. I just today checked my biggest holding. Over the past 5 years, I'm up in that fund by +50% in hard-dollar terms. PRWCX. "Take the profit and run, Crash." I still think I'll wait for the end-of-year shakeout and do this thing in January.

@catch22: I don't believe that anyone on the MFO Discussion Board has more invested in the Q's than myself. The (-1.34%) loss so far today means nothing when you consider the 16.05% annual return over the last ten years the Q's have provided me.
Regards,
Ted

FYI: Most target-date funds are either actively managed or passively track indexes. Fidelity Investments is betting that investors will want both in one wrapper.
The firm launched a suite of 13 Fidelity Freedom Blend Funds on Tuesday. Each fund holds an underlying mix of actively managed and index funds run by Fidelity. The target dates range from 2005—featuring the most conservative mix of socks and bonds—to 2060, with the highest equity exposure. The funds hold an average of 40% in underlying index funds, with expense ratios ranging from 0.26% to 0.54%, depending on the share class.
Regards,
Ted
https://www.barrons.com/articles/fidelitys-latest-gambit-for-your-retirement-savings-1536247498
Fidelity Website: Fidelity Freedom Blend Funds:
https://www.fidelity.com/about-fidelity/institutional-investment-management/fidelity-investments-launches-target-date-blend-funds

FYI: A veteran mutual-fund-watching journalist is now freelancing,
and a prominent trade publication for financial advisors is on the
hunt.
John Waggoner left InvestmentNews in June and has been
freelancing ever since, continuing to work from home in Vienna,
Virginia (outside Washington, D.C.), he confirms. He previously
served as a senior columnist and mutual funds reporter for the
FA-focused publication, yet he was laid off in June, he says. The
position has not yet been filled.
Regards,
Ted
http://www.mfwire.com/common/artprint2007.asp?storyID=58587&wireid=2

Themes that were positive in Old_Skeet's portfolio today with the S&P 500 Index being down -0.28% along with most global markets. My two dividend strategy funds were up (SVAAX +0.87%) & (FDSAX +0,49%), my infrastructure fund (PGUAX +0.34%), and my real estate fund (FRINX +0.16%) plus a good number of others were also up. In checking some of @hank's funds that he noted that were currently struggling and that he has been building positions in were his real estate fund TRREX which was up +0.70% and his infrustructure fund OQGAX which was up +0.09%.
Anybody else have funds that were up today that they would like to comment on?

From the prospectus link above:
Principal Investment Strategies The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in credit instruments and derivative instruments that are linked to, or provide investment exposure to, credit instruments. The fund defines credit instruments broadly to include any debt instrument, including corporate and sovereign bonds, bank loans, municipal securities, and securitized instruments (including mortgage- and asset-backed securities). The fund may invest in debt instruments of any maturity, duration, or credit rating, and there are no limits on the fund’s investments in high-yield (“junk”) bonds and securities in default. There is no limit on the fund’s investments in securities issued by foreign issuers, including issuers in emerging markets, although the fund’s overall net exposure to non-U.S. currencies through direct holdings and derivatives is normally limited to 25% of its net assets. The fund may invest up to 20% of its net assets in equity securities, including common and preferred stocks, convertible securities, warrants, and other equity securities in addition to derivatives that provide exposure to equity securities.

@Crash - Looks like they can pretty much do anything they want with your money as long as it's somehow related to debt (including derivatives related to debt). Very wide latitude. Domestics or foreign (up to 25%). No limits on junk bond exposure. May also invest up to 20% in equities.
I haven't a clue what they're trying to do here. Garner more AUM, I'd guess, in order to stay competitive in a world of giants.
Here's their stated rationale, I'd guess. "The fund’s investment approach provides the flexibility to invest across a wide variety of global credit instruments without constraints to particular benchmarks, asset classes, or sectors in an effort to create a portfolio with consistent risk-adjusted returns over a full market cycle. The fund generally places a greater emphasis on its overall exposure to credit risk while also considering its overall exposure to interest."

"Laddering can be done with any fixed income product of a predetermined maturity, including bonds, CDs or fixed annuities"
Fixed annuities have a period of time when their interest rate is fixed, but they don't "mature" after that. They simply convert to paying a floating rate (still called "fixed annuities").
In this sense, they're like 5/1 adjustable rate mortgages - fixed rate for a period of time (here, five years), then a floating rate until the mortgage matures decades down the road.
You might want to lock in a new fixed rate with a new fixed annuity, but you're not forced to because the old annuity doesn't "mature".
Note that these days, many fixed annuities tack on market value adjustments (MVA) if you redeem before some "maturity" date, even if there is no "early withdrawal penalty" (to use CD terminology).
What that means is that the issuer is going to treat it like a bond - if interest rates go up while you hold the annuity, then its redemption value (or sale price of the equivalent bond) goes down, and you get less money. If interest rates go down (yeah, sure) while you hold the annuity, then you'll get more than face value for the annuity. Like a bond, you'll get face value at "maturity" or later if you continue to hold the annuity.
http://www.annuityadvisors.com/reference/detail/market-value-adjustment-mva?refid=12

It's certainly fun to pile on, but what exactly are people piling on to?

Bruce Berkowitz, head of Fairholme Capital Management, has cut his personal exposure ...

Get a grip. This is "just" a half million of his own shares shares, give or take. That's peanuts compared to what he dumped from the Fairholme Funds (FAIRX, FAAFX) combined - around three million shares.
https://www.gurufocus.com/news/731092/berkowitz-sells-20-of-sears-near-historic-low-
I doubt there's any way to find out how much Berkowitz paid for his personal shares.
As to what Fairholme paid for its shares, you can get a pretty good sense by reading through the latest semiannual and annual statements.
The annual shows that:
FAAFX held 1,425,398 shares at a cost of $53,325,603 (acquired between 12/16/11 and 12/11/14[sic])
FAIRX held 13,535,991 shares at a cost of $810,536,627 (between 11/26/07 and 12/11/15)
[Shares purchased outside these periods had obviously already been disposed of prior to the end of the reporting period of the statement, 11/30/17.]
The subsequent semiannual statement shows that FAIRX sold 4,397,400 shares at a loss of $318,744,149, sometime between 11/30/17 and 5/31/18, leaving FAIRX with 9,138,591 shares.
It's easy to estimate the proceeds, since the price of SHLD ranged roughly between $2 and $4 over that period. Given the loss, you know roughly how much those shares cost. Subtract that from the total cost of the Fairhome shares in the annual report, and you'll have the cost of the pool of shares from which the latest 3M were sold.
The fact that over four million shares were sold earlier this year (or late last year) shows that this recent sale of roughly 3M shares is neither the first nor the largest disposal of shares that the funds have made.
Here are the two SEC latest 13G filings I could find showing Berkowitz and/or Fairholme changes in the number of shares owned:
January 11, 2018
https://www.sec.gov/Archives/edgar/data/1056831/000091957418000429/d7793325_13g-a.htm
August 21, 2018
https://www.sec.gov/Archives/edgar/data/1056831/000091957418005887/d8057736_13g-a.htm

If 62 yo I would be sitting in bunch of cash cd and bond tooooo.. Likely > 65%

https://www.forbes.com/sites/mattcarey/2018/09/04/2018-guide-to-bond-cd-and-annuity-laddering/#5f36c7a62d00
Forbes
You can just as easily stagger the maturities at 3 month or 3 year intervals or have an investment horizon of 3 years or 10 years. Ladder with Bonds ...

@MFO Members: Unfortunately, the article link by JohnN, the stock choices were in slideshow format. Here are the nine.
Regards,
Ted
1. CVS
2. MSFT
3. SBUX
4. PG
5. HD
6. UNH
7. TXN
8. ITW
9. AFL

@MFO Members: Records indicate that Berkowitz first purchased Sears in 2005. How many shares, and the time frame I don't know, however ; the stock price for Sears ranged from $76 to $94 dollars in 2005.
Regards,
Ted