https://www.forbes.com/sites/brettowens/2020/05/14/the-biggest-mistake-a-preferred-income-investor-can-make/#a19e7c556359
The Biggest Mistake A Preferred Income Investor Can Make
Not for individual resale.”
Ever see that label on a box of food, and scratch your head? Like who’s buying this big-mega bag of Chips Ahoy for the purpose of reselling the “individually packaged” helpings of cookies inside?
One of our best holding is pff, it did plummet recently but we are still holding it and may add more later

Hi sir kings53man
Prob..many pundits are saying and singing same themes similar after 2008 crash, feds pumping massive amounts cash into systems to keep it afloat otherwise dows maybe at 10k now

I'm surprised. Only $3.5MM. There is no God.

while paper trading is good for confidence, unless you put actual money you will not learn. Just start with 1 SPY put OTM.
You need your own strategy / scale / objective. One thing I can tell you is do not do 2X, 3X, 5X of your trade. what I mean is, if you have more money to play with do not sell 5 puts of SPY. instead make 5 trades with 1 put. That's the standard "casino" logic. They have limits on their tables because they want you to bet smaller more number times because the more times you play, the better probability THEY have of winning. When you are SELLING a put, you are the casino. You are selling RISK to the other guy who is buying the put from you.
Next is your objective. Few ways to think about it. One obvious way is "can i make more than i'm earning as interest"? another is "can i generate enough cash to pay my monthly utility bills". i trust you get the picture. have a goal in mind and don't be greedy.
Here's a guideline. Disclaimer if you lose money you suck not me. Say SPY is $280. 1.5% of SPY is $4.20. Go OTM and sell a put to collect $4.20. Chill. If you get assigned SPY because it drops at expiry, go out and sell a covered call to get 1.5% of what your cost basis is. Rinse. Repeat. Do with just 1 PUT for maybe 6 months, a year, whatever.
I cannot say this again. Paper trading will only take you so far. To know your "psychology" you need to have real money on the line. Hindsight is always 2020, and this being the year 2020 is absolutely no help at all.

Here are excerpts from a recent article in Barrons. Surprisingly (maybe) many analysis see GE as a decent risk reward play. My figures are crossed for David Giroux decisions since PRWCX is my largest fund holding.

https://www.barrons.com/articles/ge-stock-drops-to-another-new-low-51589490158

I know a lot of people don't have the subscription to read so I added some lines from the article below:
GE Stock Dropped Again. But Here’s What Is Going Right.
The reasons (for stock collapse) are well known . Demand for air travel has been pummeled by Covid-19, which means fewer General Electric (ticker: GE ) jet engines on fewer commercial jets. What’s more, low interest rates and slower economic growth hurt the GE Capital and Power business units.
Most Wall Street analyst actually rate shares the equivalent of Buy, so they must see something in the stock. Here are a few positives about the company, and the stock, for investors to consider.
Larry Culp: ...well respected on Wall Street. Investors don’t have to worry about leadership while they worry about everything else.
The Balance Sheet: “GE’s industrial balance sheet is currently in a net cash position.” GE has done a lot of work on its balance sheet, paying down debt and selling assets.
Aerospace: ...expects the commercial aftermarket to recover “fairly quickly” in 2021. Defense is part of the aerospace industry, too, and GE supplies engines to the military. while relatively small, the company’s defense business is still growing.
Cost Cutting: The cost-cutting started when Culp took over, and more actions are being taken to reduce the size of the aerospace business, preparing it for a smaller future.
Vaccines: A vaccine or cure would solve a lot of problems for humanity, as well as the ones experienced by the commercial aviation industry.
Risk and Reward
Any stock, GE included, is ultimately about balancing risk and reward. The negatives, right now, are apparent, while the positives are less obvious. That is one reason GE stock is stuck. The question for investors now is how will the balance shift in coming months.

I often X-Ray my stuff using their tool. (Premium.) OK, so today is a week-end. That might have something to do with it. But the changes in the numbers are quite significant, in a good way. How do I know if I can trust them? (Well, can we ever be sure, completely?)
The new X-Ray (6:15 p.m. Eastern Time on Friday) has moved my portfolio's P/E from 1.0 to .77 and that's pretty big, in a good way. P/B is .70. ... PROJECTED EPS over the next 5 years has jumped from 1.18 to 1.30. And (current) Yield is 1.44. That last number is up, just a bit. (All of this is compared to the SP500.) I'm sitting wondering how I could be so smart--- because I'm NOT.

https://www.sec.gov/Archives/edgar/data/831114/000139834420010669/fp0053971_497.htm
497 1 fp0053971_497.htm
THE RBB FUND, INC.
Schneider Small Cap Value Fund
(the “Fund”)
_____________________________________________________________________________________
Supplement dated May 15, 2020
to the Prospectus and Statement of Additional Information,
each dated December 31, 2019
_____________________________________________________________________________________
At a meeting held on May 13-14, 2020, the Board of Directors (the “Board”) of The RBB Fund, Inc. (the “Company”), based upon the recommendation of Schneider Capital Management Company, the investment adviser to the Fund (the “Adviser”), approved a Plan of Liquidation and Termination for the Fund (the “Plan”). The Board concluded that it is in the best interest of the Fund and its shareholders that the Fund be closed and liquidated as a series of the Company effective as of the close of business on July 15, 2020.
The Adviser has determined to waive any applicable redemption fees for shares of the Fund redeemed on or after May 15, 2020.
Effective as of the close of business on May 25, 2020, in anticipation of the liquidation, the Fund will no longer accept purchases into the Fund. In addition, the Adviser is in the process of transitioning the Fund’s portfolio securities to cash and/or cash equivalents and the Fund will no longer be pursuing its stated investment objective.
Shareholders of the Fund may redeem their investments as described in the Fund’s Prospectus. The redemption of shares will generally be considered a taxable event.
If you hold shares of the Fund in an IRA account, you have 60 days from the date you receive your proceeds from the liquidation of the Fund (the “Proceeds”) to reinvest or “rollover” your Proceeds into another IRA and maintain their tax-deferred status. You must notify the Fund’s transfer agent by telephone at 1-888-520-3277 (toll free) prior to July 15, 2020, of your intent to rollover your IRA account to avoid withholding deductions from your Proceeds.
Pursuant to the Plan, if the Fund has not received your redemption request or other instruction prior to July 15, 2020, your shares will be automatically redeemed on July 15, 2020 at the closing net asset value per share, and you will receive your Proceeds from the Fund, subject to any required withholding. These Proceeds will generally be subject to federal and possibly state and local income taxes if the redeemed Fund shares are held in a taxable account, and the Proceeds exceed your adjusted basis in the Fund shares redeemed.
If the redeemed Fund shares are held in a qualified retirement account, such as an IRA, the redemption Proceeds may not be subject to current income taxation. You should consult with your tax advisor on the consequences of this redemption to you.
Shareholder inquiries should be directed to the Fund at 1-888-520-3277 (toll free).
* * * * *
Please retain this supplement for your reference.
(Disclosure: I have small positions in the this fund)

I don't know enough to fool with any of the default settings.
These were the standouts.
GLFOX hits 7.03% at the 10th percentile.
DODGX at 5.36. Which was better than VDIGX 2.51 or VEIRX 2.65. Shoot. DODIX is at 2.82
NBGNX at 5.26%
FDFAX at 5.48
FBIOX at 4.15. By this test perhaps I should have held onto VGHCX instead of selling it, and splitting it between FBIOX and FSMEX. But I wanted to get away from the providers in their portfolio.
PRBLX is at 5.26%. So I'll keep that on my watch list.
Thanks for the link Bee. I'm not sure what I learned though. My plan is to spend down the IRA completely anyway. I hope to leave the taxable to the kids.

PRWCX's manager David Giroux chimes in on GE:

What about some nonutility stocks?
We are bullish on General Electric [GE].
GE is a controversial name lately.
We didn’t own it until recently. I’ve known [new CEO] Larry Culp for about 19 years, from when he ran Danaher [DHR]. I don’t think Larry has ever failed at anything, and we’re confident he will turn around GE. I don’t own GE for the upcoming quarter or the upcoming year; I’m looking at free cash flow in 2023 or 2024, and think this stock can double or triple over three to five years. It’s hard to find situations like that in the marketplace.

t-rowe-price-fund-manager-david-giroux-stock-picks-disruption-51570818202

Does PRWCX have GE stock right? Only VFINX and VTSMX hold more shares. GE is alomost 4% of PRWCX portfolio.
Some commentary:

GE's problem can be summarized in one sentence: The company is burning cash. Hence, other things equal, the company -- and its stock -- should be worth less every day that passes. While that is not true of some Nasdaq darlings, the market's consistent punishment of GE shares over the past decade shows that there is some efficiency left in the U.S. stock markets.

and,

Mr. Market has been dead right on GE. To shore up its balance sheet, GE finalized the sale of its Biopharma division for $20 billion on March 31st of this year. That was probably the worst time in human history to sell a business that focuses on therapeutics -- look at a stock chart of Moderna (MRNA) , Arcturus Therapeutics (ARCT) or Gilead (GILD) if you don't believe me -- but, hey, this is GE we are talking about.

Source:
mr-market-has-been-dead-right-on-general-electric

what's interesting is to not use longest time frame but to set the start date to 2007, so you're going into retirement at a very bad time. i did it w PRWCX. started with 1 mil and at the end of 2019 you had 780k with a max drawdown of 55%, at the 10th percentile. scary. but at least you still had money. oh -- did retirement of 20 years. thanks for posting this!

Great point...thanks. Wonder if starting in the year 2000 (tech bubble) had more dire results. The perpetual Withdrawal Rate would surely be lower (for both starting years) and maybe a better data points to use for this 2020 start year scenario.

what's interesting is to not use longest time frame but to set the start date to 2007, so you're going into retirement at a very bad time. i did it w PRWCX. started with 1 mil and at the end of 2019 you had 780k with a max drawdown of 55%, at the 10th percentile. scary. but at least you still had money. oh -- did retirement of 20 years. thanks for posting this!

https://www.sec.gov/Archives/edgar/data/809586/000110465920062270/tm2016450-9_497.htm
497 1 tm2016450-9_497.htm 497
Registration No. 33-11371
1940 Act File No. 811-4982
Filed Pursuant to Rule 497(e)
HEARTLAND GROUP, INC.
Heartland Select Value Fund
Investor (HRSVX)
Institutional (HNSVX)
Supplement Dated May 15, 2020 to the
Prospectus and Summary Prospectus, each dated May 1, 2020
On May 14, 2020, the Board of Directors of Heartland Group, Inc. (the “Company”), unanimously approved the proposed reorganization of the Heartland Select Value Fund (the “Select Value Fund”) into the Heartland Mid Cap Value Fund (the “Mid Cap Value Fund”), each a series of the Company, subject to the approval of the shareholders of the Select Value Fund (the “Reorganization”). Heartland Advisors, Inc. (the “Advisor”) serves as the investment adviser to both Funds. The Advisor recommended the Reorganization in order to combine the assets of the Funds into a single Fund that the Advisor believes will attract new shareholders and, therefore, benefit all shareholders. Both Funds have similar investment objectives, strategies and risks. Both Funds are managed pursuant to the Advisor’s disciplined and time-tested 10 Principles of Value Investing™ framework.
The Board of Directors of the Company approved an Agreement and Plan of Reorganization that provides for the acquisition of all of the assets of the Select Value Fund by the Mid Cap Value Fund in exchange for shares of the Mid Cap Value Fund. Shareholders of the Select Value Fund would become shareholders of the Mid Cap Value Fund, receiving shares of the applicable class of the Mid Cap Value Fund equal in value to the shares of the Select Value Fund held immediately prior to the Reorganization. The Reorganization is intended to qualify as a tax-free transaction for federal income tax purposes.
Shareholders of record of the Select Value Fund will receive a Proxy Statement/ Prospectus, which describes in detail the Reorganization, the Mid Cap Value Fund and the Agreement and Plan of Reorganization, and seeks their approval of the proposed Reorganization. Assuming shareholders of the Select Value Fund approve the Agreement and Plan of Reorganization, the Reorganization is expected to close in the fourth quarter of 2020.
This Supplement should be retained with your Prospectus for future reference.
The date of this Supplement is May 15, 2020.

https://www.google.com/amp/s/seekingalpha.com/amp/article/4347876-gold-sell-in-may-and-go-away
Gold: Sell In May And Go Away
May 15, 2020 4:33 AMGLD, IAU, PHYS
Summary
/Gold is facing very tight supplies so people are using the paper market to take delivery of the physical gold.
Gold should be trading at $2,000 given the fundamental news about the Fed pumping money into the economy.
We have a daily goal for day trading. Every trader should./
Could be merits in these ideas. If equity do rebounds, Gold may not do well in summer. We still have few % in gld holdingd in portfolio.

https://www.fa-mag.com/news/bond-etfs-survived-their-first-big-crisis-55750.html?print
https://www.fa-mag.com/news/bond-etfs-survived-their-first-big-crisis-55750.html?section=43&page=2
Bond ETFs Survived Their First Big Crisis
MAY 14, 2020 • PAGE 2 OF 3
/Investors were still able to trade through the market turmoil, just not at the prices they might have hoped for. “If investors wanted that liquidity, they basically had to pay for it,” says Ryan Sullivan, senior vice president of Brown Brothers Harriman’s global ETF services. “They were able to access it. It certainly was not an ideal trade, but all things equal, the funds held up.”/
The multi million dollars question maybe for us is how long can they survive/stay afloat. Market sentiment maybe better today compared to March 20 but much pains and obstacles ahead

https://www.financialadvisoriq.com/c/2750603/333853/morgan_stanley_merrill_wells_others_accused_bond_pricing_conspiracy?referrer_module=issueHeadline
Morgan Stanley, Merrill, Wells, Others Accused of Bond Pricing Conspiracy
By Miriam RozenMay 14, 2020
/A proposed class action lawsuit claiming market makers have been conspiring to inflate corporate bond prices will likely help brokers and advisors illustrate to clients the advantages of investing in bonds through mutual funds and exchange-traded funds, according to chief investment officers./

Hi @rforno
You noted:

" in 'safe' bonds earning piddling amounts"

Is/are the piles of debt too large across most bond areas? Yes. Will a day of reckoning arrive to blow up the debt markets? The potential exists.
Are some bond areas not earning their "keep" now? Yes. But, other quality areas are, well; "providing" for their owners.
While a debt blowup potential exists, I do not find this anymore more worrisome than the forward theoretical value of many equity sectors at this time.
The chart includes SP500 vs a few higher quality bond areas: IEF, TLT, EDV, ZROZ and AGG.
The chart is placed at 1 year (254 days). Right click the 254 days to find other default choices......YTD, etc.
CHART
Be careful and well,
Catch

If I was sitting on 25M like her I'd probably have 5-10M in 'safe' bonds earning piddling amounts as my cash 'bucket' for emergencies and/or my retirement piggy bank. Remember, the more you have sitting "earning next to nothing" the more "something" you will earn from that position ... you don't *need* to have 4% payouts from them to get a comfortable return if there's enough mass there to begin with.
The rest would be mostly in equities and perhaps a few direct investments within my area of expertise.