Lots pundits stating no doubt another large recession likely occur 6 to 36 months... We don't really know exactly when
So if you are doing well/near retirement and thinking time to bail out, extremely happy w previous 10+years profit then maybe best time to get out..
I reduced mother portfolio to 30%equities and 70% bonds fixed-income recently

Anyone using this up tick as a reason to take some profit ?

Interesting question. But why are you calling today’s market conditions an

“uptick” ? U.S. equity markets today have barely clawed their way back to where they were 6-12 months ago. “Rebound” or “recovery” might better describe today’s market. @Derf, I share your apprehension. While I don’t have access to the Barrons story, I suspect it’s bearish in sentiment. Problem is: These warnings are becoming like a “broken record”. (For those too young to remember vinyl, “broken record” was a phenomenon characterized by the unstoppable repetition of a few notes or words - over and over again.)
Read virtually any respectable financial publication from Barrons to the MFO Monthly Commentaries over the past 8-10 years and you’ll find warnings about overvaluation, lofty levels, dangerous markets, overbought markets, over exuberance, etc.. Yet, had you heeded those warnings 3, 5 or 8 years ago and moved to ultra-safe investments like cash and limited duration bonds you’d likely have been left standing in the dust along the road as markets marched higher.
Does this make me optimistic going forward? No - not in the least. But something isn’t adding up when you compare the decade old flood of warnings about valuations alongside actual U.S. stock market performance over the same period. One possibility (but only a possibility) for those fixated on indexes is that the 10-year steady march higher since 2009 will eventually be erased by a sudden, rapid, downward spiral in valuations. Let’s hope that doesn’t happen. Should it occur, however, it might make the roughly 18 months slide from late ‘07 to early ‘09 look like a Sunday picnic.*
I don’t get paid to give investment advice here, so offer none. :) I share your concerns and I’ve done what I can to lower overall risk in how my retirement monies are invested - appropriate to age and a 10-20 year time horizon. But there are no guarantees. And, whatever plan / course one decides on, it needs to be tailored to age and circumstances. @Derf, I realize this does nothing to satisfy your concerns. But thanks for the question anyway.
*From its peak in 2007 to its low in 2009, The S&P 500 Index fell roughly 50%.
https://www.frbatlanta.org/cenfis/publications/notesfromthevault/0909

Absolutely super post Hank. One that younger investors should save as a reference.

Anyone using this up tick as a reason to take some profit ?

Interesting question. But why are you calling today’s market conditions an “uptick” ? U.S. equity markets today have barely clawed their way back to where they were 6-12 months ago. “Rebound” or “recovery” might better describe today’s market. @Derf, I share your apprehension. While I don’t have access to the Barrons story, I suspect it’s bearish in sentiment. Problem is: These warnings are becoming like a “broken record”. (For those too young to remember vinyl, “broken record” was a phenomenon characterized by the unstoppable repetition of a few notes or words - over and over again.)
Read virtually any respectable financial publication from Barrons to the MFO Monthly Commentaries over the past 8-10 years and you’ll find warnings about overvaluation, lofty levels, dangerous markets, overbought markets, over exuberance, etc.. Yet, had you heeded those warnings 3, 5 or 8 years ago and moved to ultra-safe investments like cash and limited duration bonds you’d likely have been left standing in the dust along the road as markets marched higher.
Does this make me optimistic going forward? No - not in the least. But something isn’t adding up when you compare the decade old flood of warnings about valuations alongside actual U.S. stock market performance over the same period. One possibility (but only a possibility) for those fixated on indexes is that the 10-year steady march higher since 2009 will eventually be erased by a sudden, rapid, downward spiral in valuations. Let’s hope that doesn’t happen. Should it occur, however, it might make the roughly 18 months slide from late ‘07 to early ‘09 look like a Sunday picnic.*
I don’t get paid to give investment advice here, so offer none. :) I share your concerns and I’ve done what I can to lower overall risk in how my retirement monies are invested - appropriate to age and a 10-20 year time horizon. But there are no guarantees. And, whatever plan / course one decides on, it needs to be tailored to age and circumstances. @Derf, I realize this does nothing to satisfy your concerns. But thanks for the question anyway.
*From its peak in 2007 to its low in 2009, The S&P 500 Index fell roughly 50%.
https://www.frbatlanta.org/cenfis/publications/notesfromthevault/0909

I've cited this Kitces piece before:
Tax-Efficient Spending Strategies From Retirement Portfolios
https://www.kitces.com/blog/tax-efficient-retirement-withdrawal-strategies-to-fund-retirement-spending-needs/

The conventional view is that taxable investment accounts should be liquidated first, while tax-deferred accounts are allowed to continue to compound. ...
However, the optimal approach is actually to preserve the tax-preferenced value of retirement accounts and to fill the tax brackets early on, by funding retirement spending from taxable investment accounts [while doing Roth conversions] ...
... tap investment accounts for retirement cash flows in the early years, [and tap] a combination of taxable IRA and tax-free Roth accounts in the later years

Emphasis in original.

FYI: As an investor, it’s easy to blow it. You could sell too early, buy too late. Bet on a loser or pass over a winner. But often the most damaging mistake has nothing to do with the selection or timing of investments—it is carelessness when it comes to managing a portfolio for taxes. This is particularly important when you’re planning how you’ll take withdrawals for retirement income.
Regards,
Ted
https://www.marketwatch.com/articles/have-multiple-retirement-accounts-use-them-in-this-order-51553425225?mod=barrons-on-marketwatch

https://www.sec.gov/Archives/edgar/data/915802/000139834419007092/fp0041649_497.htm
Vulcan Value Partners Fund
Vulcan Value Partners Small Cap Fund
(the “Funds”)
Supplement dated April 26, 2019
to the Funds’ Prospectus and Statement of Additional Information dated April 23, 2019
Effective as of the date of this supplement, the following changes are being made with respect to the Funds to reflect that the Vulcan Value Partners Fund is no longer closed to new investors.
Prospectus
The first paragraph of the section entitled “Summary Sections – Vulcan Value Partners Fund – Purchase and Sale of Fund Shares” in the prospectus is hereby deleted.
The section entitled “Buying, Exchanging and Redeeming Shares – Buying Shares” which currently refers to the Vulcan Value Partners Fund and the Vulcan Value Small Cap Fund is hereby deleted and replaced in its entirety with the following:
Effective as of the close of business on November 29, 2013, the Vulcan Value Partners Small Cap Fund is closed to new investors, except for new investors who are employees of the Adviser and as described below. This change will affect new investors seeking to purchase shares of the Vulcan Value Partners Small Cap Fund either directly or through third party intermediaries. Existing shareholders of the Vulcan Value Partners Small Cap Fund may continue to purchase additional shares of the Fund.
● A financial advisor whose clients have established accounts in the Vulcan Value Partners Small Cap Fund as of November 29, 2013 may continue to open new accounts in the Fund for any of its existing or new clients.
● Existing or new participants in a qualified retirement plan, such as a 401(k) plan, profit sharing plan, 403(b) plan or 457 plan, which has an existing position in the Vulcan Value Partners Small Cap Fund as of November 29, 2013, may continue to open new accounts in the Fund. In addition, if such qualified retirement plans have a related retirement plan formed in the future, this plan may also open new accounts in the Vulcan Value Partners Small Cap Fund.
Statement of Additional Information
The second paragraph of the section entitled “Purchase, Exchange & Redemption of Shares” which currently refers to the Vulcan Value Partners Fund and the Vulcan Value Small Cap Fund is hereby deleted and replaced in its entirety with the following:
Effective as of the close of business on November 29, 2013, the Vulcan Value Partners Small Cap Fund is closed to new investors, except for new investors who are employees of the Adviser and as described below. This change will affect new investors seeking to purchase shares of the Vulcan Value Partners Small Cap Fund either directly or through third party intermediaries. Existing shareholders of the Vulcan Value Partners Small Cap Fund may continue to purchase additional shares of the Fund.
● A financial advisor whose clients have established accounts in the Vulcan Value Partners Small Cap Fund as of November 29, 2013 may continue to open new accounts in the Vulcan Value Partners Small Cap Fund for any of its existing or new clients.
● Existing or new participants in a qualified retirement plan, such as a 401(k) plan, profit sharing plan, 403(b) plan or 457 plan, which has an existing position in the Vulcan Value Partners Small Cap Fund as of November 29, 2013, may continue to open new accounts in the Vulcan Value Partners Small Cap Fund. In addition, if such qualified retirement plans have a related retirement plan formed in the future, this plan may also open new accounts in the Vulcan Value Partners Small Cap Fund.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

A real professional job there on that link, Ted. And you call yourself "The Linkster". If you're going to do something, then do it right.
And here's the link.

I've thought about trying out for the Senior PGA Tour in retirement. They make pretty good money too. Biggest thing holding me back is they don't allow beer on the course while playing. That and my 18 handicap. Oh well.

Boo on Fidelity - NO - Boo on Vanderbilt sort of a funny title - " alleged retirement-plan mismanagement by Vanderbilt University,"

FYI: Most professional sports leagues have very generous retirement plans for athletes. In the NFL, for example, each player can put more than $40,000 a year in their 401(k) when the team match is factored in. But golf’s PGA Tour seems to enrich athletes the most: Over 600 pro golfers currently have more than $1 million in their retirement plans, and some have significantly more.
Regards,
Ted
https://www.marketwatch.com/story/hundreds-of-pro-golfers-have-over-1-million-in-their-pga-tour-retirement-accounts-2019-04-24/print

FYI: The marketing and sales tactics Fidelity Investments uses with retirement savers were called out in a lawsuit involving alleged retirement-plan mismanagement by Vanderbilt University, bringing into focus the ongoing and seemingly increasing tension felt between plan sponsors, participants and their service providers, many of which are seeking out additional revenue in the face of fee compression.
Monday, Vanderbilt University reached a $14.5 million settlement with the plaintiffs, represented by attorney Jerome Schlichter — the largest settlement to date by a university.
Regards,
Ted
https://www.google.com/search?source=hp&ei=omy_XN2dB4G15gLg8J6wCg&q=Fidelity+sales+tactics+called+out+in+settlement+of+retirement+plan+lawsuit&btnK=Google+Search&oq=Fidelity+sales+tactics+called+out+in+settlement+of+retirement+plan+lawsuit&gs_l=psy-ab.3...2962.2962..4346...0.0..0.131.236.0j2......0....2j1..gws-wiz.....0.sM35IAlScVg

"Many Americans don’t save enough for retirement because they just don’t have the money."
They don't have the money to save, however they do have enough to purchase $1,000 smartphones (and their expensive monthly data plans), spend hundreds more eating out/happy hours, etc... There are certainly families out there that truly don't make enough, but there is also a large group of people that simply make more spending decisions.

FYI: We all know how woefully unprepared Americans are for retirement. But a new study tells an even more sobering tale: Three of every four participants in the best corporate 401(k) retirement plans won’t have enough to cover their post-retirement living expenses.
Regards,
Ted
https://www.marketwatch.com/story/even-75-of-americans-in-the-best-401k-plans-wont-have-enough-to-retire-2019-04-18/print

There is already an experience team behind the lead managers. Their pending retirement will likely to have minimal impact on the long term performance to Wellington fund. The management strategy is similar to Dodge and Cox funds.

@Catch - Your link to Pentagon Papers doesn’t work.
Sorry for steering the ship off course with my reference to the “Mueller Report”. Worse, I expect that tomorrow we may learn that said (imaginary) report never really existed. It was merely a figment of the imagination perpetuated on a gullible public by a fake press.
Hope your friend has a long and prosperous retirement.

https://www.sec.gov/Archives/edgar/data/1326544/000089418919002203/wintergreen_497e.htm
497 1 wintergreen_497e.htm SUPPLEMENTARY MATERIALS
WINTERGREEN FUND, INC.
(the “Fund”)
April 17, 2019
Supplement to Prospectus and Summary Prospectus each dated April 30, 2018, as amended.
At a meeting held on April 15, 2019, the Board of Directors (the “Board”) of Wintergreen Fund, Inc. (the “Fund”) approved the liquidation and dissolution of the Fund. Effective immediately at market close on April 17, 2019, the Fund has suspended most sales of its shares pending the completion of the liquidation and the payment of liquidating distributions to its shareholders. The Fund expects to make the liquidating distributions and cease operations on or shortly after June 3, 2019 (the “Liquidation Date”).
In limited circumstances, such as sales to certain retirement plans and sales made through retail omnibus platforms, the Fund will continue to offer its shares for a limited time, but no offer or sale of Fund shares will be made after April 30, 2019.
Shareholders should be aware that the Fund will convert its assets to cash and/or cash equivalents before the liquidating distributions are made to shareholders. After the Fund converts its assets to cash, the Fund will no longer pursue its stated investment objective or engage in any business activities except for the purposes of winding up its business and affairs, preserving the value of its assets, paying its liabilities, and distributing its remaining assets to shareholders.
In connection with the liquidation, the Board approved the immediate suspension of the Fund’s distribution and/or service (Rule 12b-1) fees. The Board also approved a waiver of the redemption fee of 2.00% imposed on shares redeemed within 60 days of purchase for redemptions of Fund shares that occur after the date of this supplement.
If a shareholder has not redeemed his or her shares prior to May 30, 2019, then the shareholder’s account will be automatically redeemed and proceeds will be sent to the shareholder’s address of record.
The liquidation of the Fund, like any redemption of Fund shares, will constitute an event upon which a gain or loss may be recognized for state and federal income tax purposes, depending on the type of account and the adjusted cost basis of the investor’s shares. The tax year for the Fund will end on the Liquidation Date.
The Fund expects to make one or more distributions of income and/or net capital gains prior to the Liquidation Date in order to eliminate Fund-level taxes. The Fund must declare and distribute to shareholders realized capital gains, if any, and all net investment income no later than the final liquidation distribution. The Fund currently expects to pay a capital gains distribution prior to the liquidation of the Fund. As with any other distribution, such pre-liquidation distribution by the Fund will be taxable unless you hold shares in a tax-advantaged account, such as an IRA or a retirement plan.
Please contact your tax advisor to discuss the tax consequences to you of the liquidation.
Important Action Required for Direct Shareholders with IRA Accounts
As an IRA account shareholder holding an account directly with the Fund, you should contact a shareholder service representative at 1-888-468-6473 to arrange a transfer of your Fund assets to another IRA custodian.
Please respond by May 30, 2019. If we do not receive a response by May 30, 2019, your investment in the Fund will be liquidated as an age-based distribution with 10% federal withholding on the Liquidation Date. Please also note that state withholding may also apply. Checks will be mailed to your address of record. You may have a limited time, typically 60 days, to reinvest proceeds to avoid tax consequences.
* * * * * *
YOU SHOULD RETAIN THIS SUPPLEMENT WITH YOUR PROSPECTUS AND
SUMMARY PROSPECTUS FOR FUTURE REFERENCE.

https://www.sec.gov/Archives/edgar/data/1110502/000139834419006651/fp0041132_497.htm
497 1 fp0041132_497.htm
April 16, 2019
HUSSMAN INVESTMENT TRUST
HUSSMAN STRATEGIC VALUE FUND
Supplement to the Prospectus dated November 1, 2018
Effective immediately, Hussman Strategic Value Fund (the “Fund”), a series of Hussman Investment Trust (the “Trust”), is terminating the public offering of its shares. Shares of the Fund are therefore no longer available for purchase by investors. As discussed below, all outstanding shares of the Fund will be redeemed at their net asset value per share determined as of the close of business on May 29, 2019 (the “Redemption Date”).
The redemption of all outstanding shares of the Fund was approved by the Board of Trustees of the Trust (the “Board”) based on the Board’s determination, in consultation with the Fund’s investment adviser, Hussman Strategic Advisors, Inc. (the “Adviser”) that, given the Fund’s very small asset size relative to its fixed expenses, and the Fund’s limited expectation of growing its assets from sales of additional shares to investors, failure to redeem all shares could have materially adverse consequences to the Fund and its shareholders. Through the Redemption Date, the Adviser will continue to reduce its fees and to reimburse expenses of the Fund as necessary to limit the ordinary operating expenses of the Fund to 1.25% annually of the Fund’s average daily net assets (as described in the Prospectus).
All shares of the Fund will be redeemed on the Redemption Date, and the proceeds of the redemption of shares held in each shareholder’s account will be sent to the shareholder’s address of record or to such other address as may be directed by the shareholder, including special instructions that may be needed for Individual Retirement Accounts (“IRAs”) and other tax deferred retirement accounts (as discussed below). Between the date of this Supplement and the Redemption Date, the portfolio securities of the Fund will be sold in an orderly manner as necessary to satisfy redemption requests and to effect redemptions of shares on the Redemption Date. This liquidation of the Fund’s portfolio holdings will reduce, and eventually eliminate, the Fund’s normal exposure to equity investments. Accordingly, during the liquidation process through the Redemption Date, the Fund will not be pursuing its stated investment objective.
Shareholders continue to have the right to redeem their Fund shares or to exchange those shares for shares of any of the other Hussman funds on each business day prior to the Redemption Date. Redemptions (including the redemption of shares in connection with an exchange) will be processed at the net asset value per share of the Fund next computed after receipt of the redemption or exchange request. Shareholders wishing to exchange their shares of the Fund for shares of another Hussman fund should obtain and read carefully the prospectus of the Hussman fund into which you wish to exchange shares before submitting an exchange request.*
The redemption of shares of the Fund, and the exchange of shares of the Fund for shares of another of the Hussman funds, as described in this Prospectus Supplement, will each for tax purposes be considered a sale of your Fund shares. Shareholders should consult with their own tax advisors to ensure proper treatment of the redemption or exchange on their income tax returns. In addition, shareholders invested in the Fund through an IRA or other tax-deferred retirement account should consult the rules regarding reinvestment of their redemption proceeds. In order to avoid the taxation of redemption proceeds in the current tax year, such a shareholder may choose to authorize, prior to the Redemption Date, a direct transfer of their retirement account assets invested in the Fund to another IRA or tax-deferred retirement account. Generally, a shareholder will have 60 days from the Redemption Date to invest their redemption proceeds in another IRA or tax-deferred retirement account to avoid treatment of the redemption proceeds as taxable income for the current tax year.
If you have any questions regarding your investment, or the redemption or exchange of Fund shares as described in this Prospectus Supplement, please call 1-800-487-7626.
Investors Should Retain this Supplement for Future Reference
* Before deciding whether to exchange your shares of the Fund for shares of another one of the Hussman funds, you should consider carefully the investment objective, risks, and charges and expenses of the other fund. The prospectuses for the Hussman funds are available at www.hussmanfunds.com or can be obtained by calling 1-800-487-7626. Please read the applicable prospectus carefully before investing. Purchases of shares of a fund acquired by means of an exchange will be effected at the net asset value of that fund next determined after receipt of your exchange request.

FYI: I know several CPAs who are closing in on retirement and they’re all saying the same thing: Thanks to the new tax laws that went into effect last year, the just-ended tax season was a doozy. Although many fewer taxpayers are expected to itemize their deductions under the new tax regime, tax preparers still had to run the numbers to compare deductions eligible for itemization with the new, higher standard deduction.
There’s also the form itself: While the 1040 form itself has fewer lines, many of the line items on the old 1040 have been scattered across six new schedules. Having spent some time with the new form, I'm unconvinced this is an improvement.
Regards,
Ted
https://www.morningstar.com/articles/923273/what-you-can-learn-from-your-2018-tax-return.html

@jerry et al I don't disagree about a time frame chosen by Fidelity. They know better than any of us about the internals.
A couple of notes for the curious.
FSMEX and fund assets for the past few years.
2016 remained mostly around for the year for each month. I suspect, although did not check; this flatness to be the same for 2015, as that year was pretty much sideways for health funds in general.
---2016, avg. monthly assets =$2 billion
---2017, Aug. = $4 billion
---2018, Oct. = $6.3 billion
---2019, Mar./early April = $7 billion
Not a fair and fully just comparison, but FSPHX (broad-based health), which has been in place since 1981 and is very well known and respected, currently has $7.2 billion of managed assets.
Lastly, we did a test trade and for those having a position in FSMEX, all is well for purchase at this time. I suspect the same holds true for as long as access is allowed where this fund exists within 401k's, 403's, etc. Obviously, a lot of money may still flow to this fund.
ADD: Fidelity closed the FDGRX fund to new money in 2006. However, notice was provided as to a time frame. I don't recall exactly, but suggest the cut off was within a 3 month period. But, the fund remains open to adding money from existing fund holders, including where available in 401k/403b type retirement accounts.
Good evening,
Catch

FYI:
Regards,
Ted
While investors are often urged to focus on their tax-sheltered accounts for their retirement savings, there are many good reasons to stash assets in a taxable account, too.
A key reason to do this is if you’re a supersaver who has maxed out the available tax-sheltered vehicles and still have assets to invest. Once you’ve made all of those 401(k) and IRA contributions, investing in a taxable account may be your only option. (Just be sure to investigate whether health savings accounts and/or aftertax 401(k) contributions might be an avenue, too.)
https://www.morningstar.com/articles/922966/3-taxefficient-retirement-saver-portfolios-for-min.html