TUHUX ranked on top quartile in 2019 and 2020, but it ranked in the bottom quartile this year! Being ranked 95% among HY category may help a bit. As of 11/4/22, YTD return of BND is down -16.1% and TUHYX is down -16.7% (and that is too much for me).

"The sharp rise in interest rates and the widely expected resultant recession may also be the 'zombie killer' that finally forces a wave of restructurings among companies reliant on accommodative capital markets to provide cash infusions to cover interest expense. That said, as a result of the dislocation that has already occurred, there are a lot of quality companies with 'money good' debt yielding 7.5-11.5% with maturities in the 1-3-year sweet spot."
With regard to Short-Term High Income, "As of September 30, 2022, the portfolio was comprised of securities with an average maturity of 4.17 months ... the Weighted Average Market Yield to Effective Maturity was 8.09% for Effective Maturities of 31 days or more. That comprised 64% of the invested Portfolio."
Seems hopeful. (More hopeful if I could keep the various yield calculations straight.)

Thanks for the kind words. I think the guys did some exceptional work. Devesh's story struck me as timely, well-researched and important.
I've received two or three requests to write about particular funds in the month ahead, including Frank Value and Schwartz Value. I'm spend some time seeing what the guys are up to.
CNBC asked me about the success of a particular fund in 2022. I think the best answer might have been to send them the Visual Capitalist moving graphic on S&P500 sector performance. The same chart answers the question, "why has my ESG lagged so badly?"
Uhhh ... "Exxon." The lifting price of oil in the US (the out-of-the-ground price) is in the neighborhood of $30/barrel. If the price of oil at auction is $40, they make $10/barrel. If it's $100 (around the current price), they make $70/barrel without any additional cost or effort to them. That's reflected in the $7 billion/month profit in Q# 2022.
The Saudis pay something in the $2-5/barrel range.
My answer to them was "own oil, make huge gains this year ... which tells you precisely nothing about next year." Exxon's 10-year returns exactly match RiverPark Short-Term High Yield's: 2.6%.

THIS IS NOT OUR TBO CAPITAL, BUT THEIR PRECURSOR, A REAL ESTATE GROUP

Majority of bond funds are down 15%, and the Fed is far from done with raising rate. This also spills over into traditional balanced funds and they sustained double digit loss.
Bank loan funds have the least amount of loss, -3% YTD. That is helping PRWCX, but Giroux now invest 10% in treasury. I considered that is a defensive move. During March 2020 pandemic, bank loan funds fell too until Powell cut rate to near zero. They bounced back ok. During stress time, things can fall at the same time. CDs and short term treasuries held up ok but they paid little at that time.
Right now, buying CD and treasury ladders is unlikely to loss like typical bond funds today, while you can get a respectable return with 4-5% yield.

Fido is offering a 5.50% 15 year (Callable) CD - Jonesboro State Bank.
The highest Non-callable CD Fido offers at the moment is 5.0% from Capital One. Its a 5 yr CD.
Note: These are New issue only, not secondary market CD offerings.

From M*:
https://www.morningstar.com/articles/1122484/which-popular-mutual-funds-will-hit-investors-with-losses-and-capital-gains-distributions-this-year

And now for a potential China "bull case"...
The following excerpt is from the 'Points of Return' newsletter (John Authers) published today.
That leads to a final question: Why would anyone be bullish about China at present? Its problems are evident, and most international investors will justifiably hate the current political direction. Andy Rothman, investment strategist and veteran China-watcher at Matthews Asia, agrees that watching for progress on Covid Zero, and particularly for a pickup in vaccination rates, which have been falling, is most important. Providing the country can find a way out of lockdowns, he offers the following “bull case” for 2023:
China is likely to remain the only major economy engaged in serious easing, while much of the world is tightening.
Chinese households have been in savings mode since the start of the pandemic, with family bank account balances up 42% from the beginning of 2020.
Those funds should fuel a consumer rebound, and an A-share recovery, as domestic investors hold about 95% of that market.

Will it make the metal soar? (Dated 13 October.)
https://capital.com/could-a-us-ban-on-russian-aluminium-make-the-metal-soar
https://www.morningstar.com/stocks/xnys/aa/quote
https://www.morningstar.com/stocks/pinx/nhydy/quote
https://www.riotinto.com/en/products/Aluminium

For Terrsa: I found TBO capital website last June. Their healthcare fund looked good for me, also as their “fake “ team in LinkedLn. I opened account and made 4 wire deposits during next 4 month in total of $55k to HMC trading LLC (website provided wire instructions for HMC TRADING but not for TBO capital - that was a red flag but I wanted to believe that it was real good income opportunity)…last deposit was made in September, they sent me 3 checks with dividends ,all payable). That’s why I trusted them and kept doing additional deposits. On October 4th I tried to open website and check October dividends and found that website is off as well as contact emails and also their phones. That moment I understood that I was robbed and sameday I sent my complaint. to SEC, FBI cybercrime division, FINRA and WELLS FARGO wire claim dep.

JD: "What is surprising to me is how much higher the CD interest rates offered at third-party brokerages are vs. those advertised directly from the issuers."
From TD Ameritrade, March 22, 2022, "Bank CDs vs Brokered CDs:Whats the Big Difference": "You may be able to find higher yields among brokered CDs than those issued by an individual bank. This is partly because of their wider selection, but it may also have to do with a broker’s ability to transact higher volumes of capital and deposits, giving them a greater degree of negotiating power (for competitive rates) with banks."

JD: "I would love monthly interest pay schedule CDs, but so far I am finding that only the "lesser-known" banks seem to offer those, for the most part. It limits the search greatly."
I just took a quick look at Schwab, and most banks are not well known banks, but I did see Wells Fargo, Morgan Stanley, Capital One, Discover all offering CDs. I personally have a CD from Barclays, American Express, and Discover banks, but most of my CDs are from high rated, smaller banks, that are not well known. I also agree that I find more of the smaller banks offer the monthly dividends

Here is the background on Nicholas Borst of Seafarer, who @BenWP mentioned.

Nicholas joined Seafarer Capital Partners in 2018. He is Vice President and Director of China Research. Prior to joining Seafarer, Nicholas was a senior analyst at the Federal Reserve Bank of San Francisco covering financial and economic developments in Greater China. Previously, he was the China Program Manager and a research associate at the Peterson Institute for International Economics. Nicholas has also worked as an analyst at the World Bank.
Nicholas’ research and commentary has been featured in the Financial Times, The Wall Street Journal, The Economist, Bloomberg, and South China Morning Post. Nicholas is a 2021-2023 Public Intellectuals Program Fellow at the National Committee on U.S.-China Relations and has testified before the U.S.-China Economic and Security Review Commission on multiple occasions.
Nicholas holds a B.A. in Political Science and International Studies from the University of Arizona and a Master’s degree in International Relations and Economics from the Johns Hopkins University School of Advanced International Studies (SAIS). He is a CFA charterholder and a member of the CFA Institute.

https://seafarerfunds.com/team/

Capital gains were an issue for us when we were both working and trying to afford living in Marin County, California
With one of us working, and living in a paid-for house in the Phoenix metro, capital gains are a feature, not a bug. They are reinvested if there is no dividend from the fund, or realized from a couple of the dividend payers to make the holidays a little more comfortable.

The ETF’s largest and most biblically “inspirational” company is Devon Energy: https://asyousow.org/resolutions/2020/01/04/devon-energy-climate-change-risk-reporting?format=amp Diamondback Energy follows close behind: https://violationtracker.goodjobsfirst.org/parent/diamondback-energy What would Jesus say? According to Inspire’s site:

THE INSPIRE IMPACT SCORE is an objective, rules-based scoring system which Inspire uses to identify the most inspiring, biblically aligned companies to invest in -- the kind of companies that are blessings to their communities, customers, workforce and the world. The Inspire Impact Score rates a company on a scale of -100 to +100 in relation to how well the company aligns with biblical values, with +100 being the highest possible score.

https://www.sec.gov/Archives/edgar/data/1644419/000158064222005391/inspirefaithwardlgcap497.htm
497 1 inspirefaithwardlgcap497.htm 497
Inspire Faithward Large Cap Momentum ETF
(NYSE Arca: FEVR)
(a series of Northern Lights Fund Trust IV)
Supplement dated October 27, 2022 to the
Prospectus and Statement of Additional Information (the “SAI”) dated March 30, 2022 and Summary Prospectuses dated May 5, 2022, as supplemented
The Board of Trustees of the Northern Lights Fund Trust IV (the “Board”) authorized an orderly liquidation of the Inspire Faithward Large Cap Momentum ETF (the “Fund”), a series of the Northern Lights Fund Trust IV. The Board determined on October 25, 2022 that closing and liquidating the Fund was in the best interests of the Fund and the Fund’s shareholders.
The last day of trading of Fund shares on NYSE Arca, Inc. (the “NYSE”) will be November 18, 2022 (“Closing Date”), which will also be the last day the Fund will accept creation units from authorized participants. Shareholders may sell their holdings in the Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. Authorized Participants may redeem baskets of shares for a pro rata portion of the Fund’s portfolio on hand through the Closing Date.
The Fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders on November 28, 2022 (the “Liquidation Date”).
From the Closing Date (November 18, 2022), through the Liquidation Date (November 28, 2022), shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for the Fund’s shares during this time period. Between the Closing Date and the Liquidation Date, the Fund will be in the process of closing down and liquidating its portfolio. This process will result in the Fund increasing its cash holdings and, as a consequence, not tracking its underlying index.
Shareholders remaining on November 28, 2022 will receive cash at the net asset value of their shares as of that date, which will include any capital gains and dividends as of such date. The liquidating cash distribution to shareholders will be treated as payment in exchange for their shares. The liquidation of Fund shares may be treated as a taxable event. Shareholders should contact their tax adviser to discuss the income tax consequences of the liquidation. Once the distributions are complete, the Fund will terminate.
For additional information regarding the liquidation, shareholders of the Fund may call 1-877-658-9473
This supplement provides new and additional information beyond that contained in the Summary Prospectus, Prospectus, and Statement of Additional Information and should be read in conjunction with those documents. The Prospectus and Statement of Additional Information have been filed with the Securities and Exchange Commission and are incorporated herein by reference.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

Hi, guys. I was scammed by that TBO capital/HMC trading LLC too. Provide access to private board please.

@Catch22
Yes sir.. Was trying to say that if you don't better after few days of paxlovid treatments and get worse probably need to get back with your provider and get the antibody infusion treatments (Fda guidelines for not favor MAB infafter 9 days) or get admited due to compromised respiratory status. I think majority of patients do get better if vaccinated and most of the time we see patients get discharge home with supportive care unlike in mid 2020
...
The data for paxlovid is very good but against old variants ( ~85% kill rate) , think the pharmacist staff told me not enough data for the new one and could be only 50s% effective.... It's a very large anti hiv pill lots side effects liver kidney failure and many critical drug interactions... You have to stop hormones (oral contraceptives) psyche meds or heart ANTIARRYTH meds / coumadin, cholesterol meds, stomach meds, and antifungal, etc...medications for 5 7 days... Lots stomach upsets
I am not favor with imervecrin nor HCQ... Not much fda approval although India used it in 2020 and they did ok

@Catch22
Yes sir.. Was trying to say that if you don't better after few days of paxlovid treatments and get worse probably need to get back with your provider and get the antibody infusion treatments (Fda guidelines for not favor MAB infusion treatments after 9 days) or may get admited due to compromised respiratory status. I think majority of patients do get better if vaccinated and most of the time we see patients get discharge home with supportive care unlike in mid 2020
...

Unfortunately with the market retracement (dismal returns) this yr, our household and mama are likely to pay less than 2021 or 2020
https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets#:~:text=There are seven federal tax,taxes due in April 2023.