“I don't know what the language of the year 2000 will look like, but I know it will be called Fortran.” —Tony Hoare, winner of the 1980 Turing Award, in 1982.
Scientific computing’s future: Can any coding language top a 1950s behemoth?
https://arstechnica.com/science/2014/05/scientific-computings-future-can-any-coding-language-top-a-1950s-behemoth/
That's from just 10 years ago. You don't have to be old to be familiar with Fortran. You just have to be in the right field of work.

AMZN joins AAPL, CRM, CSCO, IBM, INTC, MSFT already in DJIA.
News https://www.cnbc.com/2024/02/20/amazon-to-replace-walgreens-in-dow-industrial-average-on-february-26.html
DJIA
https://finance.yahoo.com/quote/^DJI
https://www.cnbc.com/dow-30/
Edit/Add. There were guesses that WMT split will cause some change in DJIA. Because it is price-weighted index, the higher-priced stocks have greater influence on its movements vs market-cap weighted index. S&P/DJ index committee (yes, there is such a thing) monitors this. WMT is both in retail and online (so, retail + fintech), so suddenly, the 3-for-1 split reduced the weight of those areas. While AMZN seems like a logical choice, somebody had to be kicked out to make room, and WBA has almost been asking for it (by how it has been doing).
WBA topped the list of 2024 Dogs of the Dow (ETF DOGG at high 75 bps). Now it will be VZ after the change.
https://www.kiplinger.com/investing/what-are-the-dogs-of-the-dow-for-2024

This is what sticks in the back of my mind, but I try my best to ignore it: "The S&P 500 PE Ratio is in the upper 15% of valuations for the past 80 years."

I was a Mutual Fund accountant many, many moons ago. Worked for a few different firms. They would price all securities using a feed just after the stock market's daily close (4PM ET). For any equities that moved > 5% from prior day close, you had to confirm that closing price at a Bloomberg terminal on-site.
For any bonds that were thinly traded, you could call down to a specific trading desk.
The holdings were adjusted for that day's trades that were made by the Portfolio Manager.
It was all very rushed and hectic, but maybe now it's more streamlined. At one point I handled an Intl Equities fund, and I received trades from London location via a Fax machine. It was less than ideal.
I have some stories, but they are boring. Or just better not to know.

I love old fax machine stories. Did you have to call their fax from your fax and coordinate placing the phones into the cups at the same time?

Very nice piece. One might add HSAs to the mix. They're sort of like Roths, in that growth is tax-free so long as you have accumulated medical expenses over the years (since the HSA was started) that exceed the amount withdrawn from the HSA.
Because of this qualification, they also resemble traditional IRAs. You don't want a T-IRA to grow too large because then RMDs can kick you into a higher bracket. You don't want HSAs to grow too fast, because if they outrun your medical expenses, some of the money you take out becomes taxable. For this reason, I allocate slower growing assets (e.g. bonds) to my HSA.
Regarding IRMAA, I don't see where the $5832 at $194,001 income level (joint) comes from in Table #2. A petty issue is that $194K is the 2023 threshold; for 2024 the threshold is $206K.
This minor point aside (and using 2023 figures for consistency), the monthly Part B IRMAA per person started at $65.90. That's $790.80/person per year. Throw in the starting level Part D IRMAA of $12.20/mo, and that brings the total annual IRMAA per person up to $943.20. Assuming both spouses are participating in Medicare, double the amount to $1886.40.
Cap gains - in 2016, cap gains didn't kick in until one hit the 25% tax bracket. The 2017 TCJA decoupled cap gains brackets from ordinary income tax brackets. Sunsetting reverses this - the 15% cap gains bracket will once again start at the 25% ordinary income tax bracket. Sunset minus cap gains should always be positive.
All of the numeric adjustments are noise. They don't change the points made. It's a formidable task to compress so many moving parts and levers into something clear and digestible. Bravo!
I haven't taken a close look at the funds yet, though I did notice a dearth of Fidelity MM to short term funds (bucket #1). It's hard to beat Vanguard on MMFs, but you might consider FCNVX as a peer to VUSFX.

I was a Mutual Fund accountant many, many moons ago. Worked for a few different firms. They would price all securities using a feed just after the stock market's daily close (4PM ET). For any equities that moved > 5% from prior day close, you had to confirm that closing price at a Bloomberg terminal on-site.
For any bonds that were thinly traded, you could call down to a specific trading desk.
The holdings were adjusted for that day's trades that were made by the Portfolio Manager.
It was all very rushed and hectic, but maybe now it's more streamlined. At one point I handled an Intl Equities fund, and I received trades from London location via a Fax machine. It was less than ideal.
I have some stories, but they are boring. Or just better not to know.

Regarding a fund's holdings, it looks like you're referring to 17 CFR § 270.2a-4(a)(2)
https://www.ecfr.gov/current/title-17/part-270/section-270.2a-4#p-270.2a-4(a)(2)

Changes in holdings of portfolio securities shall be reflected no later than in the first calculation on the first business day following the trade date.

Emphasis added.
With respect to the price used, it isn't necessarily the current day's closing price. For example, some funds price more than once daily. The Fidelity sector funds used to price hourly, and several Rydex funds (owned by Guggenheim) still price twice daily.
https://www.planadviser.com/print-page/?url=https://www.planadviser.com/rydex-expands-offering-of-twice-a-day-fund-pricing/&cid=39311
The 10:45 AM price on a Tuesday couldn't be based on Tuesday's close because that's in the future. And if it were based on the prior close, that would be tantamount to letting investors trade on stale prices (see 2003 mutual fund trading scandal for why this is verboten).
Typically funds pick "market close" as the time to value their shares, but it can be any fixed time. See 17 CFR § 270.22c-1(b)(1).

The current net asset value of any such security shall be computed no less frequently than once daily, Monday through Friday, at the specific time or times during the day that the board of directors of the investment company sets, in accordance with paragraph (d) of this section

https://www.ecfr.gov/current/title-17/part-270/section-270.22c-1#p-270.22c-1(b)(1)

I stopped paying their $250 a year fee as I was not using most of the thousands (!) of recommendations.
Anybody got the article without the paywall?

Yes but it would require more formatting to cut-paste than I really care to do. And while there may be some outriders I'm not aware of, from what I can tell, most of the funds he mentions are well-known and well-discussed here anyway -- so no real surprises that I can (quickly) detect. (Though I do disagree w/some of those listed, but c'est life, right?)

Here are two multi/alternative strategy funds, with excellent risk/reward records, that a conservative retiree might also consider and that are available NTF at Fidelity:
- AQR Diversifying Strategies N (QDSNX) has a 3-year total return of 10.9% and a SD of 7.0%.
- JP Morgan Hedged Equity (JHQAX) has a 3-year total return of 6.7%, a 5-year return of 9.0%, and a SD of 9.3%.
Good luck,
Fred

I stopped paying their $250 a year fee as I was not using most of the thousands (!) of recommendations.
Anybody got the article without the paywall?

Entered order today for next-to-last sliver of NEAGX per the same reasons as last BUY.

Good trade on GOOG. I hope it works out with NVDA as well.
Just curious, Do you mind sharing what %age of your portfolio you anticipate is your NEAGX position? Thanks

Thanks and sure.
BTW, GOOGL is back at the price we BOT it and then SOLD it within 10 days for 6%. We are entertaining a repeat ride on it in addition to our current NVDA play.
We have LT experience with fellow high-flyer FSELX so we are comfortable with it at 10%.
We are conversely very new to NEAGX, having watched it for a year or more but never taking the plunge until this year. We are building it to no more than 5% for the time being, but MAY increase it IF IF IF SCs start to show signs of full participation and outperformance.
NEAGX MAY only be a 2024 holding while we will likely be taking FSELX to our graves, so to speak. Per venerable M* poster: "Volatility is the price we pay for growth!"
EDIT_1: BTW, SMCI is getting hammered again today for anyone looking at NEAGX as a possible SCG play.
EDIT_2: NVDA, DOWN over 6%, came knocking and we obliged by adding a 2nd sliver.

Entered order today for next-to-last sliver of NEAGX per the same reasons as last BUY.
Also, could not resist starting position in NVDA today with first BUY while it was DOWN ~6%, a rare event indeed. Will be monitoring price action closely thru earnings announcement after the bell on Wed, in case anyone is not aware of it. It's carrying a +/-11% possible swing into the announcement. Today's DROP may be part of all that already, as many happy owners may be booking gains in advance. Plan here is same a recent GOOGL trade: If we can make a quick 5%-15%, may cash it in for a ST play, otherwise, will hold LT.

According to https://citywire.com/wealth-manager/news/fidelity-merges-japan-small-cap-fund-due-to-dwindling-assets/a2436589 FJSCX is being merged into the Fidelity Japan fund.

Range-bound. That's where my portfolio is. 54 stocks, 37 bonds 7 cash.
Just thought I'd mention it. Getting impatient. Tonight, I'm sitting just off my OLD high-point, at the start of '22, before the interest rate hikes. Financials, Energy, Tech and Healthcare are where I'm most concentrated. In that order. Bonds have come up, yes. But not "so'z you'd notice."
I really don't want to pile into a horrifically crowded tech-trade right now. Arm, A.I., Facebook, Google, Amazon. And some of my stuff is holding WFC as a top holding. Makes me want to gag. Criminal suck-bag banksters. All of the huge banks are that way.
Interest rate cuts will help. Earnings have pretty much been coming in hot for 4Q '23. Still not much of a difference in MY portfolio. Stinky poopy. Meanwhile, tempus fugit.
---End---

I'm still about 5% down from my January 2022 high, but I don't care; my bond income has gone up. I'm fine if rates stay normalized.

Crash,
Any Utilities in that 50 something stock portfolio? Most I own are yielding around 4% or better.

"Mushingstar" X-Ray tells me 7.14% of my stocks are in utilities. I own no single-stock Yoots. Checking my biggest holding, PRWCX. 40% of my total portfolio. It holds almost 9% in Yoots.
Ameren.
Xcel Energy.
Exelon
Those are the top 3. I can't find a Yoot that satisfies me in terms of just simple P/E.
For yield, I'm in junk. Own a still smallish regional bank, yielding 4.4%. (BHB.) Oil/gas midstream ET offers 8.9% yield. Pretty nuts. I love it.

Crash,
Any Utilities in that 50 something stock portfolio? Most I own are yielding around 4% or better.

@hank, Also Fidelity tool is very good to analyze your portfolio and % exposure to certain stocks, although not as neatly as those from M* portfolio X-ray analysis. T. Rowe Price used to make the M* too available to their investors, but now they only want those with $250K invested with them.
I also use the Fidelity tool for retirement planning analysis on several scenarios including expecting returns and inflation. We will do fine even at the worst scenario as long as we maintain our health. Glad to hear you are enjoying life.

@Crash- just curious- at your branch do you really need an appointment to do ordinary stuff, or just to reserve a time slot with the manager or an account specialist?
Thanks- OJ

Surely for more lengthy conversations, an appt. is called for, like my very first visit in there. There is a further, follow-up item: I must get a TRP statement printed, but I own no printer. So he just asked what time I'd like to come in, and I'll simply login at TRP while I'm sitting there with my guy at Schwab, and he can take a screen grab or print the pertinent info. He's telling me that in about 5 years, this can all be done more seamlessly, online. But not yet. And we did need my wife's signatures on the joint brokerage account and also her IRA, to get it under the Schwab umbrella, anyhow.

@hank. Looks bleak. And way too cold. I'm at 52 Stocks 39 bonds 7 cash 3 other.
After a dividend just arrived, ET is the biggest single-stock position. 5% of total portfolio. Among funds, PRWCX remains very, VERY near 40% of total.

:)
There was a fun pre-show here. Several people took part. Not cast members, just volunteers. Maybe paid volunteers? When I entered, there were two women all in red sequins. They were singing cabaret numbers, old standards. Then, boom: they broke into the Flower Duet song from Lakme. It was marvelous!