No one can say for certain if we'll have inflation increases going forward...assumptions are being made...just the same ERC filings due to end in 2025, tuition loan forgiveness will end, energy costs likely to decrease, wasteful govt spending reduced, quite possible (hopefully) peace dividend to come under new govt etc etc...who knows, sure could go the other way?
what is wrong with staying short duration in Tbills/notes US2yr or less? still getting over 4%, no state taxes...think back a couple years ago and what dozen years before that...2% looked good, no?
Maybe stay with rolling US3M, US6M, US12MTbills out to a year with 90% of your monies and take the other 10-15% and go with GRNY, Tom Lee's new ETF...you can still be real conservative...

I have not mentioned MMs, where I have been holding a large chunk of my maturing CDs. I have chosen to use the highest yielding MMs at Schwab, which holds a broad range of investing categories, including US and foreign government and corporate sources. SNAXX and SWVXX are paying about .25% more than Bank CDs through Schwab. Those MMs are very liquid and have been dropping slowly, but at least offer a short term earnings advantage over CDs. Again you get into a guessing game about where rates are heading, and you have to be confident/comfortable with these more "diversified" MM investments. If you opt for safer US Government based MMs, you are pretty much mirroring the noncallable CD rates. In 2023, I opted to move a large chunk of my Schwab Taxable money to Capital One CDs, but as those Capital One CDs mature, I am now considering moving that CD money back to Schwab, where I can find more attractive investing returns. With my IRA money at Schwab, I hold SNAXX which offers much better rates than I can get with CDs--but for "how long" is the question.

Yield spreads between Vanguard High-Yield Corporate and Vanguard Interm-Term U.S. Treasury
(starting in 1998) are compared in the M* Fund Investor newsletter each month.
Current
(11-30-24) 1.95
Last Month
(10-31-24) 2.12
A Year Ago
(11-30-23) 2.74
High
10.71
Low
1.96
Average
3.74

The Week in Charts (12/06/24)
The most important charts and themes in markets and investing, including:
00:00 Intro
00:18 FREE Wealth Path Analysis
00:47 Topics
01:06 Goldilocks Jobs Report
04:14 One More Cut Before the Pause
08:48 The Most Wonderful Month of the Year
12:30 Bitcoin $100k
16:41 The Milei Miracle
19:52 More Affordable Rents
Video
Blog

06 december, 2024.

oksana aranov. economy is chugging along. rate cuts will just set the table for more inflation. november jobs report shows a healthy labor market, and it's been this way for months, apart from the hurricane month in october, of course. the fed doesn't even know where its neutral rate is.
cleveland fed chair hammack says we're at or near the time when rate cuts need to be slowed or stopped.
gargi chaudhuri. no reason to own bonds further out in duration than 5-7 years. own the belly.
investment grade vs. junk are at historic tights.
really? my core-plus fund offers me yield of 5.17%. My junk spews at me monthly with 7.33%. more than two percent better. throw enough benjamins in there and the difference is meaningful.

I'll wait for the upcoming end-of-year handouts. after that, i believe i'll switch out of prfdx. too volatile. i got into it for the fact that it offered quarterly dividends with the growth from stocks, as well. but that was before prcfx even existed. i like monthly dividends even more. just a personal preference. and as for risk comparison---- prfdx is rated to be more aggressive by quite a bit, thus explaining the torrid (often) and contrarian ups and downs. disappointing me of late, especially. prcfx is almost 42 in stocks and 53 in bonds. that would be just fine with me at this point in the game.
bhb bar harbor bank has been quite good to me, but falling down on the job in recent days. stinky poopy. the beta on that puppy is 1.15 and it shows in the share price from day to day. we are a week away from a dividend, and it's sinking, sinking. stinky poopy.
in the other direction, there's et, energy transfer. k-1 tax form. but it's facing litigation from the williams companies. the last time that happened, et got shellacked in court. nevertheless, the share price continues to climb. a real keeper--- as is bar harbor. too high a beta, but i can't find anything else to substitute for it. what's a mother to do?
otherwise, i'm continuing to grow weitz core-plus, wcpnx. happy motoring, everyone. the one handed typist, post-surgery, wishes you a deadly fun week-end.

https://www.sec.gov/Archives/edgar/data/1020425/000119312524272363/d901120d497.htm
497 1 d901120d497.htm 497
LITMAN GREGORY FUNDS TRUST
Supplement dated December 6, 2024 to the
Prospectus and Statement of Additional Information (“SAI”)
of the Litman Gregory Funds Trust (the “Trust”) dated April 29, 2024, as supplemented
Notice to Existing and Prospective Shareholders of the iMGP High Income Fund (“High Income Fund”) and the iMGP Alternative Strategies Fund (“Alternative Strategies Fund” and, together with the High Income Fund, the “Funds”):
At a meeting of the Board of Trustees (the “Board”) of the Trust on December 4, 2024, iM Global Partner Fund Management, LLC, the investment adviser to the Trust, proposed a reorganization (the “Reorganization”) of the Alternative Strategies Fund into the High Income Fund, whereby the High Income Fund would acquire the assets and assume the liabilities of the Alternative Strategies Fund. The Board of the Trust approved the Reorganization, subject to a determination that the Reorganization will qualify as a tax-free reorganization for U.S. federal income tax purposes. The proposed Reorganization is subject to regulatory disclosure review and effectiveness of a registration statement. There can be no assurance about whether or on what terms the Reorganization would occur. Additional information about the Reorganization will be made available to shareholders of the Funds in a combined information statement/prospectus before the Reorganization date.
In connection with the Reorganization, a registration statement on Form N-14 will be filed with the Securities and Exchange Commission (the “SEC”). The registration statement may be amended or withdrawn and the information statement/prospectus it contains will not be distributed to Alternative Strategies Fund shareholders until the registration statement is effective. Investors are urged to read the materials and any other relevant documents when they become available because they will contain important information about the Reorganization. After they are filed, free copies of the materials will be available on the SEC’s web site at www.sec.gov.
This communication is for informational purposes only and does not constitute an offer of any securities for sale. No offer of securities will be made except pursuant to a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Investors should carefully consider the investment objectives, risks, fees and expenses of the Funds.
Please keep this Supplement with your Prospectus and Statement of Additional Information.

https://www.sec.gov/Archives/edgar/data/1103243/000141304224000954/cweil497.htm
497 1 cweil497.htm
Christopher Weil & Company Core Investment Fund
A series of PFS Funds
Supplement dated December 6, 2024
to the Prospectus and Statement of Additional Information
each dated March 28, 2024
The Board of Trustees (the “Board”) of the PFS Funds (the “Trust”) has approved a Plan of Liquidation (the “Plan”) relating to the Christopher Weil & Company Core Investment Fund (the “Fund”), effective December 5, 2024. Christopher Weil & Company, Inc., the Fund’s investment adviser (the “Adviser”), has recommended to the Board to approve the Plan based on its representations the Fund is no longer a core focus of the Adviser’s business, the Fund’s assets have declined and the Adviser sees limited prospects for increasing assets, and the Adviser’s indication that it does not desire to continue to support the Fund. As a result, the Board has concluded that it is in the best interest of the shareholders to liquidate the Fund.
In connection with the proposed liquidation and dissolution of the Fund called for by the Plan, the Board has directed the Trust’s principal underwriter to cease offering shares of the Fund immediately as of the date of this Supplement. Shareholders may continue to reinvest dividends and distributions in the Fund or redeem their shares until the liquidation. While undergoing an orderly liquidation, the Fund will invest in cash equivalents and will not be pursuing its investment objective.
It is anticipated that the Fund will liquidate on or about December 23, 2024. Any remaining shareholders on the date of liquidation will receive a distribution of their remaining investment value in full liquidation of the Fund. If you have questions or need assistance, please contact your financial advisor directly or the Fund toll-free at 1-888-550-9266 or the Adviser at 1-858-724-6040.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of any 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 March 28, 2024, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information dated March 28, 2024 have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling the Fund toll-free at 1-888-550-9266.

I get access to most funds at zero to low mins due to being with a RIA. I tried to push through a purchase on Schwab with this one but was not able to get through. A push is necessary sometimes (on an advisor account) because the trade confirmation screen shows the real min.
For example the stated min for QLEIX is $5M but I have a much lower min (it might be zero, I don't recall it). With EMPIX, no bueno.
Thanks to this thread, I did purchase CBYYX (I wasn't aware of this fund). I was all set to purchase ILS instead which has a $50K min.

I thought Schwab does not offer EMPIX to retail investors - I thought one needs advisory account. Has that changed? Are there any work around such a restriction?
I think the $250 Min is pretty inflexible but I too would be interested in knowing exceptions.
******
I think Fidelity stopped offering EMPIX to new investors (account specific?) in 2024.
I just tried and EMPIX did not come up under the research tab.
When I tried to force a trade through the trade ticket, EMPIX shows not available for retail. But the minimum shown on the trade ticket is only $5,000.
Error message on forcing the trade -
(010952) The mutual fund you requested to trade is not available for retail trading. For more information, contact a Fidelity Representative at 1-800-544-6666.

court rejects plea deal.
https://www.cnbc.com/2024/12/05/court-rejects-boeing-plea-deal-tied-to-737-max-crashes.html

@Stillers- yes, I did the same, but our ladder is only out to the end of '27. I'm 85, and my wife is not financially intuitive, so I'm not at all sure how much further out to push that.
Normally I would agree with accepting lower CD rates as the Fed continues to reduce, but if the next administration does even half of what is promised I cannot see how inflation will go anywhere but up.

@Finder
Schwab min for EMPIX is $250K. Are you able to buy at a lower min?

Thank you again, @Observant1.
Everyone here should be watching these presentations; and saving them for further/future reference.
Especially important for this #39 report, IMHO; is Lesson #2 starting at the 5 minute mark, titled 'Price Targets'. A lot of time over the years and currently is spent regarding who/what to follow and/or read regarding financial thinking. The point of Lesson #2 is that those (the large, old money centers), those that one should expect to understand markets well, have problems like other 'humans', in spite of overwhelming data and 'schooling'. Somewhere here (MFO) is a write (2010 - 2012?) about about Morgan Stanley or Goldman fully getting things wrong about interest rates directions. A serious mistake.
One must be their own best student and attempt to blend whatever/whomever you choose to follow to help form one's thinking. No easy task.
A suitable topic area, for a future post.

We avoided this very issue by taking the opportunity when it was there to build a 5-yr CD ladder averaging 5+% that completely replaced our bond sleeve. In consideration of the (current high) probabilities of rate cuts in Dec, March and May, we will continue to replace maturing CDs as they fall off the ladder with the current, in our opinion, still acceptable 1-5-yr, 4+% rates.
We have looked at and are watching some of the popular ST and HY bond OEFs but are currently still Just Say(ing) No to them. No need for us at this point to add their respective risks given our ladder.

NYSE just had a moment of silence for Art. He was my financial hero and will be sorely missed by so many.
RIP Art. This Dewar's is for you!

Good point, Old Joe, that's why I am putting some of the proceeds of any maturing CDs into bond OEFs like CBLDX, DHEAX, ICMUX and RCTIX.
I am also putting money into two low risk market neutral funds like QQMNX (SD=7.2%) and JMNAX (SD=4.4%), and HELO, a hedged equity fund.
So far, so good. If not, I'll just pull the trigger. At my age, I prefer to err on the side of caution.
But, good luck.

Hi Fred, looks like you are back to using the same kind of bond oefs that you were using before the most recent market tumble. I am not there yet, but I do have a lot of good feelings about lower risk bond oefs like RPHIX, CBLDX, and DHEAX. I maintain a watchlist of very conservative/low risk bond oefs, but I am expecting those funds to become more volatile, than the past couple of years. But as I have said in the past, I am not a good predictor of the future, and will likely stay more conservative and risk averse, than most posters/investors on this forum

@dtconroe- good to hear from you again. We are in exactly the same situation as you describe. I recently bought a long-term Deutsche Bank bond at 5.75%, callable in two years (that MikeM found) from Schwab. However as msf mentions hoping for a call in two years may have been a bad move, since it seems likely that inflation may increase substantially under the new, improved political franchise. If that happens, we may be stuck with that bond for much longer than desirable.

I am not good at trying to predict the market, even for the near future. I expect some political turmoil in the near future, but I am not good at predicting politics either. CDs have been good for both my financial objectives, as well as my mental health, for a few years now. At my age, winning investing trophies is not important to me. My financial objectives are much more "modest"--just make enough TR to preserve principal, with as little stress as possible. I am not opposed to callable CDs, or even very low risk bond oefs like RPHIX, but not really interested in more risky investments than that. Other investors can chart the path that fits their financial objectives, and I realize that I am probably too conservative/risk averse, for most other investors/posters on this forum.

- Best All Around News + Financial Information - The Wall Street Journal
- Best for Investment Ideas / Insights - Barrons
- Best Deal Right Now - Reuters @$45 annually (monthly rate available). I found the internet site loaded with distracting story-related animations my Ad blocker couldn’t halt. But when I downloaded their free App they disappeared. Very readable.
- Best for Developing Stories - Bloomberg. Stories aren’t always the deepest dives, but they update 24 hours a day. When financial news breaks, you’ll see it here first. You also get the Bloomberg TV channel which is nice if your regular TV plan doesn’t carry it. I’m at (an introductory) $249 per year. But set to renew @ $100 more in 5 months.
- Best for A Long Term Perspective - InvesTech from James Stack. Monthly newsletter assessing market valuations and comparing current dynamics to historical cycles. Stack also provides an ever-changing etf investment model for his readers depending on his outlook. I don’t follow it. Can’t say it’s been the ideal allocation for the current bull market. But his gig is “preservation first.” Price is around $200 yearly. Less with multi-year packages.
- Best for Staying Sober (not succumbing to herd psychology) - “The Daily Rap” / Veteran investor Bill Fleckenstein writes a daily column looking at the day’s action. Once or twice a week there’s some deeper insights to be had. More often just a quick summary you can find anywhere. If it it was a Dull (“nothing happened”) Day Bill will tell you that. There’s a Q&A section I sometimes enjoy more than Bill’s opines. If having pro-Trump / anti-liberal messaging occasionally inserted into the discussions bothers you, you won’t like the site. If you can read thru that stuff, there’s a lot to be learned. Price is something north of $100 yearly.
- Most Enjoyable & Insightful Listening - “The Meb Faber Show” - I have access to over 50 45-minute long interviews dating back a couple years. Delightful conversations with many financial participants including fund managers. You can dig up a few on UTube. But to get the entire pack you might need to use a podcast service.
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